Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of accumulated other comprehensive income (loss), net of tax

A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the three months ended September 30, 2021 and 2020 is as follows (in millions):


	Aircraft Fuel Derivatives(1)(2)
Balance of accumulated income, at June 30, 2021	$	—
Reclassifications into earnings, net of deferred taxes of $0	—
Change in fair value, net of deferred taxes of $0	—
Balance of accumulated income, at September 30, 2021	$	—

Balance of accumulated (loss), at June 30, 2020	$	(3)
Reclassifications into earnings, net of deferred taxes $(1)	1
Change in fair value, net of deferred taxes of $0	—
Balance of accumulated (loss), at September 30, 2020	$	(2)

A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the nine months ended September 30, 2021 and 2020 is as follows (in millions):


	Aircraft Fuel Derivatives(1)(2)
Balance of accumulated income, at December 31, 2020	$	—
Reclassifications into earnings, net of deferred taxes of $0	—
Change in fair value, net of deferred taxes of $0	—
Balance of accumulated income, at September 30, 2021	$	—

Balance of accumulated income, at December 31, 2019	$	2
Reclassifications into earnings, net of deferred taxes $(4)	7
Change in fair value, net of deferred taxes of $5	(11)
Balance of accumulated (loss), at September30, 2020	$	(2)

(1) Reclassified to aircraft fuel expense.

(2) In 2020, we made several capacity reductions in response to the COVID-19 pandemic. These capacity reductions led to the discontinuance of hedge accounting on a number of our aircraft fuel derivatives as the forecasted consumption of aircraft fuel was no longer probable. Losses of $1 million and $5 million that were previously deferred in other comprehensive loss were reclassified to interest income and other during the three and nine months ended September 30, 2020, respectively.