Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2013

Description of Derivative Instruments

The following tables present information about the financial statement classification of the Company’s derivatives (in millions):

Classification	Balance Sheet Location	March 31, 2013		December 31, 2012
Derivatives designated as cash flow hedges
Assets:
Fuel contracts due within one year	Receivables	$	19	$	7
Liabilities:
Fuel contracts due within one year	Current liabilities: Other	$	—	$	2
Derivatives not designated as hedges
Assets:
Fuel contracts due within one year	Receivables	$	51	$	44
Fuel contracts with maturities greater than one year	Other assets: Other, net		3		—
Total assets		$	54	$	44
Liabilities:
Fuel contracts due within one year	Current liabilities: Other	$	—	$	2
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		—		1
Total liabilities		$	—	$	3
Total derivatives
Assets:
Fuel contracts due within one year	Receivables	$	70	$	51
Fuel contracts with maturities greater than one year	Other assets: Other, net		3		—
Total assets		$	73	$	51
Liabilities:
Fuel contracts due within one year	Current liabilities: Other	$	—	$	4
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		—		1
Total liabilities		$	—	$	5

Schedule of Gains (Losses) on Derivative Instruments

The following tables present the impact of derivative instruments and their location within the Company’s unaudited Statements of Consolidated Operations (in millions):

Derivatives designated as cash flow hedges

Fuel contracts	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective portion)					Loss Reclassified from AOCI into Fuel Expense						Amount of Gain Recognized in Nonoperating income (expense): Miscellaneous, net (Ineffective Portion)
	Three Months Ended March 31,					Three Months Ended March 31,						Three Months Ended March 31,
	2013			2012		2013			2012			2013		2012
	$	(9	)	$	93	$	(9	)	$	(31	)	$	—	$	25

Derivatives not designated as hedges

Fuel contracts
	Three Months Ended March 31,
	2013		2012
Amount of gain recognized in Nonoperating income(expense): Miscellaneous, net	$	50	$	—

Schedule of Derivative Credit Risk and Fair Value

The following table presents information related to the Company’s derivative credit risk as of March 31, 2013 (in millions):

Net derivative asset with counterparties	$	73
Collateral held by the Company (a)		—
Potential loss related to the failure of the Company’s counterparties to perform		73

(a) Classified as an other current liability.