XML 47 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Derivatives (Tables)
 9 Months Ended
Sep. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Price Risk Derivatives [Table Text Block]
The following table shows the impact of fuel hedge gains (losses) for both designated and undesignated contracts on aircraft fuel and related taxes:
 
Three Months Ended September 30,
Nine Months Ended September 30,
(in millions)
2012
2011
2012
2011
Market adjustments for changes in fair value
$
414

$
(179
)
$
(121
)
$
(99
)
Effective portion reclassified from AOCI to earnings
—

68

15

202

Gain (loss) recorded in aircraft fuel and related taxes
$
414

$
(111
)
$
(106
)
$
103
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
Hedge Position as of September 30, 2012
(in millions)
Notional Balance
Final Maturity Date
Prepaid Expenses and Other
Other Noncurrent Assets
Other Accrued Liabilities
Other Noncurrent Liabilities
Hedge Derivatives, Net
Designated as hedges
 
 
 
 
 
 
 
 
Interest rate contracts (cash flow hedges)
$
762

U.S. dollars
May 2019
$
—

$
—

$
(23
)
$
(53
)
$
(76
)
Interest rate contracts (fair value hedges)
$
469

U.S. dollars
August 2022
6

—

—

—

6

Foreign currency exchange contracts
93,960

Japanese yen
August 2015
1

2

(30
)
(6
)
(33
)
456

Canadian dollars
 
 
 
 
 
Not designated as hedges
 
 
 
 
 
 
 
 
Fuel hedge contracts
2,666

gallons - heating oil, crude oil, jet fuel and diesel
December 2013
549

86

(283
)
(100
)
252

Total derivative contracts
 
 
$
556

$
88

$
(336
)
$
(159
)
$
149


Hedge Position as of December 31, 2011
(in millions)
Notional Balance
Final Maturity Date
Prepaid Expenses and Other
Other Noncurrent Assets
Other Accrued Liabilities
Other Noncurrent Liabilities
Hedge Derivatives, Net
Designated as hedges
 
 
 
 
 
 
 
 
Interest rate contracts (cash flow hedges)
$
989

U.S. dollars
May 2019
$
—

$
—

$
(27
)
$
(57
)
$
(84
)
Interest rate contracts (fair value hedges)
$
500

U.S. dollars
August 2022
—

—

—

(7
)
(7
)
Foreign currency exchange contracts
126,993

Japanese yen
April 2014
7

5

(58
)
(43
)
(89
)
313

Canadian dollars
 
 
 
 
 
Not designated as hedges
 
 
 
 
 
 
 
 
Fuel hedge contracts
1,225

gallons - heating oil, crude oil, jet fuel and diesel
December 2012
570

—

(500
)
—

70

Total derivative contracts
 
 
$
577

$
5

$
(585
)
$
(107
)
$
(110
)

He
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]
Gains (losses) related to our designated hedge contracts, including those previously designated as accounting hedges, are as follows:
 
Effective Portion Reclassified from AOCI to Earnings
 
Effective Portion Recognized in Other Comprehensive Income
(in millions)
2012
2011
 
2012
2011
Three Months Ended September 30
 
 
 
 
 
Fuel hedge contracts
$
—

$
68

 
$
—

$
(70
)
Interest rate contracts
(5
)
—

 
5

(51
)
Foreign currency exchange contracts
(8
)
(31
)
 
(27
)
(22
)
Total designated
$
(13
)
$
37

 
$
(22
)
$
(143
)
Nine Months Ended September 30
 
 
 
 
 
Fuel hedge contracts
$
15

$
202

 
$
(15
)
$
(136
)
Interest rate contracts
(5
)
—

 
8

(44
)
Foreign currency exchange contracts
(21
)
(53
)
 
56

4

Total designated
$
(11
)
$
149

 
$
49

$
(176
)