Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2015

Accumulated Other Comprehensive Income (Loss)

NOTE 6 - 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):

								Deferred Taxes
UAL (a)	Pension and Other Postretirement Unrecognized Actuarial Gains (Losses) and Prior Service Cost			Unrealized Gains  (Losses) on Derivatives		Investments and Other		Pension and Other Postretirement Liabilities		Derivative Contracts			Total
Balance at December 31, 2012	$	(927)		$	(10)	$	6	$	(115)	$	—	(d)	$	(1,046)
Other comprehensive income before reclassifications (b)		1,584	(c)		39		7		—		—			1,630
Amounts reclassified from accumulated other comprehensive income (b)		42			(18)		—		—		—			24
Net current-period other comprehensive income (loss)		1,626			21		7		—		—			1,654
Balance at December 31, 2013	$	699		$	11	$	13	$	(115)	$	—	(d)	$	608
Other comprehensive loss before reclassifications (b)		(1,106)	(c)		(599)		—		—		—			(1,705)
Amounts reclassified from accumulated other comprehensive income (b)		(65)			89		(6)		—		—			18
Net current-period other comprehensive income (loss)		(1,171)			(510)		(6)		—		—			(1,687)
Balance at December 31, 2014	$	(472)		$	(499)	$	7	$	(115)	$	—	(d)	$	(1,079)
Other comprehensive income (loss) before reclassifications		78	(c)		(320)		(4)		(28)		115			(159)
Amounts reclassified from accumulated other comprehensive income		31			604		—		(11)		(217)			407
Net current-period other comprehensive income (loss)		109			284		(4)		(39)		(102)			248
Balance at December 31, 2015	$	(363)		$	(215)	$	3	$	(154)	$	(102)		$	(831)

Details about AOCI Components	Amount Reclassified from AOCI to Income						Affected Line Item in the Statement Where Net Income is Presented
	Year Ended December 31,
	2015		2014		2013
Derivatives designated as cash flow hedges
Fuel contracts-reclassifications of (gains) losses into earnings	$	604	$	89	$	(18)	Aircraft fuel
Amortization of pension and postretirement items
Amortization of unrecognized (gains) losses and prior service cost and the effect of curtailments and settlements (e)		31		(65)		42	Salaries and related costs
Investments and other
Available-for-sale securities—reclassifications of gains into earnings		—		(6)		—	Miscellaneous, net

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

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

(c) Prior service credits increased by $0 million, $3 million and $331 million and actuarial gains (losses) increased by approximately $78 million, $(1.1) billion and $1.3 billion for 2015, 2014 and 2013, respectively.

(d) Deferred tax balance was offset by the Company’s valuation allowance.

(e) This accumulated other comprehensive income component is included in the computation of net periodic pension and other postretirement costs (see Note 8 of this report for additional information).