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Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2020
Comprehensive Income (Loss) [Abstract]  
Comprehensive Income (Loss) (16) Comprehensive Income (Loss):

Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting equity (deficit) and pension/postretirement benefit (OPEB) liabilities that, under GAAP, are excluded from net loss.

The components of accumulated other comprehensive income (loss), net of tax, and changes are as follows:

($ in millions)

Pension Costs

OPEB Costs

Total

Balance at January 1, 2020 (1)

$

(684)

$

34 

$

(650)

Other comprehensive income (loss)

before reclassifications

(389)

(16)

(405)

Amounts reclassified from accumulated other

comprehensive loss to net loss

233 

(10)

223 

Net current-period other comprehensive

income (loss)

(156)

(26)

(182)

Balance at September 30, 2020 (1)

$

(840)

$

8 

$

(832)

($ in millions)

Pension Costs

OPEB Costs

Total

Balance at January 1, 2019 (1)

$

(489)

$

26 

$

(463)

Other comprehensive income (loss)

before reclassifications

-

-

-

Amounts reclassified from accumulated other

comprehensive loss to net loss

31 

(6)

25 

Net current-period other comprehensive

income (loss)

31 

(6)

25 

Impact of adoption of ASU 2018-02

(83)

4 

(79)

Balance at September 30, 2019 (1)

$

(541)

$

24 

$

(517)

(1)Pension and OPEB amounts are net of tax of $204 million and $250 million as of January 1, 2020 and 2019, respectively and $255 million and $163 million as of September 30, 2020 and 2019, respectively.

During the nine months ended September 30, 2020, Frontier recorded aggregate pension settlement charges of $159 million related to lump sum pension settlement payments to terminated or retired individuals and completed its sale of the Northwest Operations. In accordance with ASC 715, Compensation - Retirement Benefits (ASC 715), Frontier remeasured its pension plan during the nine months ended September 30, 2020. These remeasurements resulted in an increase in our pension liabilities and a remeasurement charge to Other comprehensive income (loss) of $516 million for the nine months ended September 30, 2020. Refer to Note 17 for additional disclosures related to the pension settlement and other items related to Defined Benefit Plans.

The significant items reclassified from each component of accumulated other comprehensive loss are as follows:

Amount Reclassified from

Accumulated Other

Comprehensive Loss (1)

($ in millions)

Affected Line Item in

For the three months ended

For the nine months ended

the Statement Where

Details about Accumulated Other

September 30,

September 30,

Net Income (Loss)

Comprehensive Loss Components

2020

2019

2020

2019

is Presented

Amortization of Pension Cost Items (2)

Actuarial gains (losses)

$

(29)

$

(14)

$

(76)

$

(42)

One-time loss on disposal

-

-

(61)

-

Pension settlement costs

-

-

(159)

-

(29)

(14)

(296)

(42)

Income (Loss) before income taxes

Tax impact

4 

4 

63 

11 

Income tax benefit

$

(25)

$

(10)

$

(233)

$

(31)

Net income (loss)

Amortization of OPEB Cost Items (2)

Prior-service costs

$

8 

$

3 

$

24 

$

7 

Actuarial gains (losses)

(1)

(1)

(4)

1 

One-time loss on disposal

-

-

(7)

-

7 

2 

13 

8 

Income (Loss) before income taxes

Tax impact

(2)

-

(3)

(2)

Income tax benefit

$

5 

$

2 

$

10 

$

6 

Net income (loss)

(1) Amounts in parentheses indicate losses.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (see Note 17 - Retirement Plans for additional details).