Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2014

Accumulated Other Comprehensive Income (Loss)

NOTE 3 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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

UAL (a)	Pension and Other Postretirement Liabilities		Derivative Contracts		Investments and  Other		Total
Balance at March 31, 2014	$	563	$	4	$	13	$	580
Changes in value		—		31		1		32
Amounts reclassified to earnings		(18)		1		(6)		(23)
Net change		(18)		32		(5)		9
Balance at June 30, 2014	$	545	$	36	$	8	$	589
Balance at December 31, 2013	$	584	$	11	$	13	$	608
Changes in value		(5)		21		1		17
Amounts reclassified to earnings		(34)		4		(6)		(36)
Net change		(39)		25		(5)		(19)
Balance at June 30, 2014	$	545	$	36	$	8	$	589
UAL (a)	Pension and Other Postretirement Liabilities		Derivative Contracts		Investments and Other		Total
Balance at March 31, 2013	$	(1,021)	$	(10)	$	4	$	(1,027)
Changes in value		442		(19)		9		432
Amounts reclassified to earnings		17		9		—		26
Net change		459		(10)		9		458
Balance at June 30, 2013	$	(562)	$	(20)	$	13	$	(569)
Balance at December 31, 2012	$	(1,042)	$	(10)	$	6	$	(1,046)
Changes in value		442		(28)		7		421
Amounts reclassified to earnings		38		18		—		56
Net change		480		(10)		7		477
Balance at June 30, 2013	$	(562)	$	(20)	$	13	$	(569)

Details about AOCI Components	Amount Reclassified from AOCI to Income									Affected Line Item in the Statements of Consolidated Operations
	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014			2013
Derivatives designated as cash flow hedges
Fuel contracts-reclassifications of losses into earnings (b)	$	1	$	9	$	4		$	18	Aircraft fuel
Amortization of pension and post-retirement items
Amortization of unrecognized (gains) losses and prior service cost (credit) (b) (c)	$	(18)	$	17	$	(34	)	$	38	Salaries and related costs
Investments and other
Available for sale securities-reclassifications of gains into earnings (b)	$	(6)	$	—	$	(6	)	$	—	Miscellaneous, net

(a) UAL and United amounts are substantially the same except for an additional $6 million of income tax benefit at United in the six months ended June 30, 2013 and additional (losses) gains related to investments and other of $(1) million and $1 million in the three months ended June 30, 2014 and the six months ended June 30, 2013, respectively.

(b) Income tax expense for these items was offset by the Company’s valuation allowance.

(c) This AOCI component is included in the computation of net periodic pension and other postretirement costs (see Note 5 of this report for additional details).