Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2014

At December 31, the Company’s derivatives were reported in its consolidated balance sheets as follows (in millions):


Classification	Balance Sheet Location	2014		2013
Derivatives designated as cash flow hedges
Assets:
Fuel contracts due within one year	Receivables	$	—	$	19
Fuel contracts with maturities greater than one year	Other assets: Other, net		—		6

Total assets		$	—	$	25

Liabilities:
Fuel contracts due within one year	Fuel derivative instruments	$	450	$	—
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		27		—

		$	477	$	—

Derivatives not designated for hedge accounting
Assets:
Fuel contracts due within one year	Receivables	$	6	$	70
Fuel contracts with maturities greater than one year	Other assets: Other, net		—		9

Total assets		$	6	$	79

Liabilities:
Fuel contracts due within one year	Fuel derivative instruments	$	244	$	—
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		2		—

Total liabilities		$	246	$	—

Total derivatives
Assets:
Fuel contracts due within one year	Receivables	$	6	$	89
Fuel contracts with maturities greater than one year	Other assets: Other, net		—		15

Total assets		$	6	$	104

Liabilities:
Fuel contracts due within one year	Fuel derivative instruments	$	694	$	—
Fuel contracts with maturities greater than one year	Other liabilities and deferred credits: Other		29		—

Total liabilities		$	723	$	—

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):


	December 31, 2014		December 31, 2013
Receivables	$	—	$	89
Other assets: Other, net		—		15
Current liabilities: Other		(209)		—
Other liabilities and deferred credits: Other		(30)		—

Hedge derivatives assets (liabilities), net	$	(239)	$	104

Schedule of Gains (Losses) on Derivative Instruments

The following tables present the fuel hedge gains (losses) recognized during the periods presented and their classification in the financial statements (in millions):

Derivatives designated as cash flow hedges


	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)				Gain (Loss) Reclassified from AOCI into Income (Fuel Expense) (Effective Portion)				Amount of Gain (Loss) Recognized in Nonoperating income (expense): Miscellaneous, net (Ineffective Portion)
	2014		2013		2014		2013		2014		2013
Fuel contracts	$	(599)	$	39	$	(89)	$	18	$	(3)	$	5

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

Derivatives not designated for hedge accounting


	Amount of Gain (Loss) Recognized in Nonoperating income (expense): Miscellaneous, net
	2014		2013		2012
Fuel contracts	$	(462)	$	79	$	38