Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2019

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

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table shows the components of accumulated other comprehensive loss:


(in millions)	Pension and Other Benefits Liabilities⁽²⁾		Derivative Contracts and Other		Available-for-Sale Investments⁽³⁾		Total
Balance at January 1, 2017 (net of tax effect of $1,458)	$	(7,714)	$	114	$	(36)	$	(7,636)
Changes in value (net of tax effect of $32)	(264)		(23)		150		(137)
Reclassifications into earnings (net of tax effect of $90)⁽¹⁾	166		(6)		(8)		152
Balance at December 31, 2017 (net of tax effect of $1,400)	(7,812)		85		106		(7,621)
Changes in value (net of tax effect of $88)	(294)		7		—		(287)
Reclassifications into retained earnings (net of tax effect of $61)	—		—		(106)		(106)
Reclassifications into earnings (net of tax effect of $57)⁽¹⁾	181		8		—		189
Balance at December 31, 2018 (net of tax effect $1,492)	(7,925)		100		—		(7,825)
Changes in value (net of tax effect of $133)	(422)		7		—		(415)
Reclassifications into earnings (net of tax effect of $76)⁽¹⁾	252		(1)		—		251
Balance at December 31, 2019 (net of tax effect of $1,549)	$	(8,095)	$	106	$	—	$	(7,989)

⁽¹⁾Amounts reclassified from AOCI for pension and other benefits liabilities and for derivative contracts designated as foreign currency cash flow hedges are recorded in miscellaneous, net in non-operating expense and in passenger revenue, respectively, in the income statement.

⁽²⁾Includes $672 million of deferred income tax expense primarily related to pension and other benefit obligations that will not be recognized in net income until these obligations are fully extinguished. We consider all income sources, including other comprehensive income, in determining the amount of tax benefit allocated to continuing operations.

⁽³⁾The 2017 reclassification into earnings for available-for-sale investments relates to our investment in Grupo Aeroméxico and the related conversion to accounting under the equity method. The reclassification of the unrealized gain was recorded to non-operating expense in our income statement. The 2018 reclassification into retained earnings relates to our investments in GOL, China Eastern and other previously designated available-for-sale investments, and the related conversion to accounting for changes in fair value of these investments from AOCI to the income statement.