Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income (Loss)

NOTE 3 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The tables below present the components of the Company’s accumulated other comprehensive income (loss), net of tax (“AOCI”) (in millions):

UAL (a)	Pension and Other Postretirement Liabilities		Derivative Contracts		Investments and Other		Pension and Other Postretirement Deferred Taxes		Derivative Contracts Deferred Taxes			Total
Balance at June 30, 2015	$	(442)	$	(266)	$	11	$	(115)	$	—		$	(812)
Changes in value		(10)		(181)		(6)		(1)		82			(116)
Amounts reclassified to earnings		8		150		—		(9)		(155)			(6)
Net change		(2)		(31)		(6)		(10)		(73)			(122)
Balance at September 30, 2015	$	(444)	$	(297)	$	5	$	(125)	$	(73)		$	(934)
Balance at December 31, 2014	$	(472)	$	(499)	$	7	$	(115)	$	—	(b)	$	(1,079)
Changes in value		3		(227)		(1)		(1)		82			(144)
Amounts reclassified to earnings		25		429		(1)		(9)		(155)			289
Net change		28		202		(2)		(10)		(73)			145
Balance at September 30, 2015	$	(444)	$	(297)	$	5	$	(125)	$	(73)		$	(934)
UAL (a)	Pension and Other Postretirement Liabilities		Derivative Contracts		Investments and Other		Pension and Other Postretirement Deferred Taxes		Derivative Contracts Deferred Taxes			Total
Balance at June 30, 2014	$	660	$	36	$	8	$	(115)	$	—		$	589
Changes in value (c)		(66)		(120)		3		—		—			(183)
Amounts reclassified to earnings (c)		(16)		—		(2)		—		—			(18)
Net change		(82)		(120)		1		—		—			(201)
Balance at September 30, 2014	$	578	$	(84)	$	9	$	(115)	$	—		$	388
Balance at December 31, 2013	$	699	$	11	$	13	$	(115)	$	—		$	608
Changes in value (c)		(71)		(99)		4		—		—			(166)
Amounts reclassified to earnings (c)		(50)		4		(8)		—		—			(54)
Net change		(121)		(95)		(4)		—		—			(220)
Balance at September 30, 2014	$	578	$	(84)	$	9	$	(115)	$	—		$	388

Details about AOCI Components	Amount Reclassified from AOCI to Income								Affected Line Item in the Statements of Consolidated Operations
	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Derivatives designated as cash flow hedges
Fuel contracts-reclassifications of (gains) losses into earnings	$	150	$	—	$	429	$	4	Aircraft fuel
Amortization of pension and post-retirement items
Amortization of unrecognized (gains) losses and prior service cost (credit) (d)		8		(16)		25		(50)	Salaries and related costs
Investments and other
Available for sale securities-reclassifications of gains into earnings		—		(2)		(1)		(8)	Miscellaneous, net

(a) UAL and United amounts are substantially the same except for additional gains related to investments and other of $1 million at United for the nine months ended September 30, 2015.

(b) Deferred tax balance was offset by the Company’s valuation allowance.

(c) Income tax expense for these items was offset by the Company’s valuation allowance.

(d) This AOCI component is included in the computation of net periodic pension and other postretirement costs (see Note 5 of this report for additional information).