NOTE 11—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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


UAL	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and Prior Service Cost			Unrealized Gain (Loss) on Derivatives and Other Financial Instruments			Total
Balance at December 31, 2009	$	57		$	(22	)	$	35

Derivative financial instruments:
Reclassification of losses into earnings		—			68			68
Change in fair value of derivatives		—			168			168
Change in fair value of other financial instruments		—			21			21
Employee benefit plans:
Reclassification of unrecognized net actuarial gains into earnings		(12	)		—			(12	)
Current year actuarial gains		107			—			107

Balance at December 31, 2010		152			235			387

Derivative financial instruments:
Reclassification of gains into earnings		—			(503	)		(503	)
Change in fair value of derivatives		—			163			163
Employee benefit plans:
Reclassification of unrecognized net actuarial gains into earnings		(24	)		—			(24	)
Current year actuarial losses		(440	)		—			(440	)

Balance at December 31, 2011		(312	)		(105	)		(417	)

Derivative financial instruments:
Reclassification of losses into earnings		—			141			141
Change in fair value of derivatives		—			(51	)		(51	)
Change in fair value of other financial instruments		—			11			11
Employee benefit plans:
Reclassification of unrecognized net actuarial losses into earnings		17			—			17
Current year actuarial losses		(747	)		—			(747	)

Balance at December 31, 2012	$	(1,042	)	$	(4	)	$	(1,046	)


	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and Prior Service Cost			Unrealized Gain (Loss) on Derivative Instruments and Other Financial Instruments			Income Tax Expense			Total
United
Balance at December 31, 2009	$	57		$	(22	)	$	—		$	35
Derivative financial instruments:
Reclassification of losses into earnings		—			68			—			68
Change in fair value of derivatives		—			168			—			168
Change in fair value of other financial instruments		—			21			—			21
Employee benefit plans:
Reclassification of unrecognized net actuarial gains into earnings		(12	)		—			—			(12	)
Current year actuarial gains		107			—			—			107
Income tax expense on other comprehensive income		—			—			(6	)		(6	)

Balance at December 31, 2010		152			235			(6	)		381

Derivative financial instruments:
Reclassification of gains into earnings		—			(503	)		—			(503	)
Change in fair value of derivatives		—			163			—			163
Change in fair value of other financial instruments		—			(2	)		—			(2	)
Employee benefit plans:
Reclassification of unrecognized net actuarial gains into earnings		(24	)		—			—			(24	)
Current year actuarial losses		(440	)		—			—			(440	)

Balance at December 31, 2011		(312	)		(107	)		(6	)		(425	)

Derivative financial instruments:
Reclassification of losses into earnings		—			141			—			141
Change in fair value of derivatives		—			(51	)		—			(51	)
Change in fair value of other financial instruments		—			12			—			12
Employee benefit plans:
Reclassification of unrecognized net actuarial losses into earnings		17			—			—			17
Current year actuarial losses		(747	)		—			—			(747	)

Balance at December 31, 2012	$	(1,042	)	$	(5	)	$	(6	)	$	(1,053	)