Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2013

Accumulated Other Comprehensive Income (Loss)

NOTE 11—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The tables below present the components of the Company’s AOCI, net of tax (in millions):

UAL	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and  Prior Service Cost			Unrealized Gain (Loss) on Derivatives			Other			Total
Balance at March 31, 2013	$	(1,021	)	$	(10	)	$	4		$	(1,027	)
Other comprehensive income (loss) before reclassifications		—			(19	)		9			(10	)
Actuarial gain due to curtailment and remeasurement		442			—			—			442
Amounts reclassified from accumulated other comprehensive income		17			9			—			26
Net current-period other comprehensive income (loss)		459			(10	)		9			458
Balance at June 30, 2013	$	(562	)	$	(20	)	$	13		$	(569	)
Balance at December 31, 2012	$	(1,042	)	$	(10	)	$	6		$	(1,046	)
Other comprehensive income (loss) before reclassifications		—			(28	)		7			(21	)
Actuarial gain due to curtailment and remeasurement		442			—			—			442
Amounts reclassified from accumulated other comprehensive income		38			18			—			56
Net current-period other comprehensive income (loss)		480			(10	)		7			477
Balance at June 30, 2013	$	(562	)	$	(20	)	$	13		$	(569	)
UAL	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and Prior Service Cost			Unrealized Gain (Loss) on Derivatives			Other			Total
Balance at March 31, 2012	$	(308	)	$	25		$	3		$	(280	)
Other comprehensive loss before reclassifications		—			(262	)		—			(262	)
Amounts reclassified from accumulated other comprehensive income		5			38			—			43
Net current-period other comprehensive income (loss)		5			(224	)		—			(219	)
Balance at June 30, 2012	$	(303	)	$	(199	)	$	3		$	(499	)
Balance at December 31, 2011	$	(312	)	$	(99	)	$	(6	)	$	(417	)
Other comprehensive income (loss) before reclassifications		—			(169	)		9			(160	)
Amounts reclassified from accumulated other comprehensive income		9			69			—			78
Net current-period other comprehensive income (loss)		9			(100	)		9			(82	)
Balance at June 30, 2012	$	(303	)	$	(199	)	$	3		$	(499	)

United	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and Prior Service Cost			Unrealized Gain (Loss) on Derivatives			Other			Income Tax Benefit (Expense)			Total
Balance at March 31, 2013	$	(1,021	)	$	(10	)	$	4		$	—		$	(1,027	)
Other comprehensive income (loss) before reclassifications		—			(19	)		9			—			(10	)
Actuarial gain due to curtailment and remeasurement		442			—			—			—			442
Amounts reclassified from accumulated other comprehensive income		17			9			—			—			26
Net current-period other comprehensive income (loss)		459			(10	)		9			—			458
Balance at June 30, 2013	$	(562	)	$	(20	)	$	13		$	—		$	(569	)
Balance at December 31, 2012	$	(1,042	)	$	(10	)	$	5		$	(6	)	$	(1,053	)
Other comprehensive income (loss) before reclassifications		—			(28	)		8			—			(20	)
Actuarial gain due to curtailment and remeasurement		442			—			—			—			442
Amounts reclassified from accumulated other comprehensive income		38			18			—			6			62
Net current-period other comprehensive income (loss)		480			(10	)		8			6			484
Balance at June 30, 2013	$	(562	)	$	(20	)	$	13		$	—		$	(569	)
United	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and Prior Service Cost			Unrealized Gain (Loss) on Derivatives			Other			Income Tax Expense			Total
Balance at March 31, 2012	$	(308	)	$	25		$	2		$	(6	)	$	(287	)
Other comprehensive loss before reclassifications		—			(262	)		(1	)		—			(263	)
Amounts reclassified from accumulated other comprehensive income		5			38			—			—			43
Net current-period other comprehensive income (loss)		5			(224	)		(1	)		—			(220	)
Balance at June 30, 2012	$	(303	)	$	(199	)	$	1		$	(6	)	$	(507	)
Balance at December 31, 2011	$	(312	)	$	(99	)	$	(8	)	$	(6	)	$	(425	)
Other comprehensive income (loss) before reclassifications		—			(169	)		9			—			(160	)
Amounts reclassified from accumulated other comprehensive income		9			69			—			—			78
Net current-period other comprehensive income (loss)		9			(100	)		9			—			(82	)
Balance at June 30, 2012	$	(303	)	$	(199	)	$	1		$	(6	)	$	(507	)

UAL

Details about AOCI Components	Amount Reclassified from AOCI to Income												Affected Line Item in the Statement Where Net Income  is Presented
	Three Months Ended June 30,						Six Months Ended June 30,
	2013		2012				2013		2012
Derivatives designated as cash flow hedges
Fuel contracts-reclassifications of losses into earnings (a)	$	9	$	38			$	18	$	69			Aircraft fuel
Amortization of pension and post-retirement items
Amortization of unrecognized loss and prior service cost (a)		17		5	(b	)		38		9	(b	)	Salaries and related costs

(a) Income tax expense offset by Company’s valuation allowance.

(b) This accumulated other comprehensive income component is included in the computation of net periodic pension costs (see Note 5 of this report for additional details.)

United

Details about AOCI Components	Amount Reclassified from AOCI to Income										Affected Line Item in the Statement Where Net Income is Presented
	Three Months Ended June  30,					Six Months Ended June 30,
	2013		2012			2013		2012
Derivatives designated as cash flow hedges
Fuel contracts-reclassifications of losses into earnings (a)	$	9	$	38		$	18	$	69		Aircraft fuel
Amortization of pension and post-retirement items
Amortization of unrecognized loss and prior service cost (a)		17		5	(b)		38		9	(b)	Salaries and related costs
Income tax expense on other comprehensive income		—		—			6		—		Income tax expense (benefit)

(a) Income tax expense offset by Company’s valuation allowance.

(b) This accumulated other comprehensive income component is included in the computation of net periodic pension costs (see Note 5 of this report for additional details.)