Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2023

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

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)Comprehensive income (loss) includes changes in fair value of our aircraft fuel derivatives which qualify for hedge accounting and unrealized loss on available-for-sale securities. A roll-forward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the three months ended June 30, 2023 and 2022 is as follows (in millions):


	Aircraft fuel derivatives		Available-for-sale securities		Total
Balance of accumulated loss, at March 31, 2023	$	(4)	$	(1)	$	(5)
Reclassifications into earnings, net of taxes of $1 (1)	3		—		3
Change in fair value, net of taxes of $(2)	(4)		—		(4)
Balance of accumulated loss, at June 30, 2023	$	(5)	$	(1)	$	(6)

Balance of accumulated loss, at March 31, 2022	$	—	$	(1)	$	(1)
Reclassifications into earnings, net of taxes $0 (1)	—		—		—
Change in fair value, net of taxes of $0	—		(1)		(1)
Balance of accumulated loss, at June 30, 2022	$	—	$	(2)	$	(2)

(1) Reclassified to aircraft fuel expense.

A roll-forward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the six months ended June 30, 2023 and 2022 is as follows (in millions):


	Aircraft fuel derivatives		Available-for-sale securities		Total
Balance of accumulated income (loss), at December 31, 2022	$	1	$	(1)	$	—
Reclassifications into earnings, net of taxes of $1 (1)	2		—		2
Change in fair value, net of taxes of $(3)	(8)		—		(8)
Balance of accumulated loss, at June 30, 2023	$	(5)	$	(1)	$	(6)

Balance of accumulated income (loss), at December 31, 2021	$	—	$	—	$	—
Reclassifications into earnings, net of taxes $0 (1)	—		—		—
Change in fair value, net of taxes of $0	—		(2)		(2)
Balance of accumulated income (loss), at June 30, 2022	$	—	$	(2)	$	(2)

(1) Reclassified to aircraft fuel expense.