Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2014

Description of Derivative Instruments

The Company’s derivatives were reported in its consolidated balance sheets as follows (in millions):

Classification	Balance Sheet Location	June 30, 2014		December 31, 2013
Derivatives designated as cash flow hedges
Assets:
Fuel contracts due within one year	Receivables	$	17	$	19
Fuel contracts with maturities greater than one year	Other assets: Other, net		29		6
Total assets		$	46	$	25
Derivatives not designated for hedge accounting
Assets:
Fuel contracts due within one year	Receivables	$	56	$	70
Fuel contracts with maturities greater than one year	Other assets: Other, net		16		9
Total assets		$	72	$	79
Liabilities:
Fuel contracts due within one year	Current liabilities: Other	$	1	$	—
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		1		—
Total liabilities		$	2	$	—
Total derivatives
Assets:
Fuel contracts due within one year	Receivables	$	73	$	89
Fuel contracts with maturities greater than one year	Other assets: Other, net		45		15
Total assets		$	118	$	104
Liabilities:
Fuel contracts due within one year	Current liabilities: Other	$	1	$	—
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		1		—
Total liabilities		$	2	$	—

Offsetting Assets and Liabilities

The following table shows the potential net fair value positions (including fuel derivatives and related collateral) had we elected to offset. The table reflects offset at the counterparty level (in millions):

	June 30, 2014		December 31, 2013
Receivables	$	72	$	89
Other assets: Other, net		44		15
Hedge derivatives, net	$	116	$	104

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

	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)				Loss Reclassified from AOCI  into Fuel Expense				Amount of Gain (Loss) Recognized in Nonoperating income (expense): Miscellaneous, net (Ineffective Portion)
	Three Months Ended June 30,				Three Months Ended June 30,				Three Months Ended June 30,
	2014		2013		2014		2013		2014		2013
Fuel contracts	$	31	$	(19)	$	(1)	$	(9)	$	5	$	(1)

Derivatives designated as cash flow hedges

	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)				Loss Reclassified  from AOCI into Fuel Expense				Amount of Gain (Loss) Recognized in Nonoperating income (expense): Miscellaneous, net (Ineffective Portion)
	Six Months Ended June 30,				Six Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013		2014		2013
Fuel contracts	$	21	$	(28)	$	(4)	$	(18)	$	4	$	(1)

Schedule of Derivative Instruments not Designated as Hedges Gains (Losses)

Derivatives not designated for hedge accounting

Fuel contracts
	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Amount of gain (loss) recognized in Nonoperating income (expense): Miscellaneous, net	$	39	$	(81)	$	(1)	$	(31)