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COMPREHENSIVE INCOME
3 Months Ended
Sep. 30, 2011
Notes to Financial Statements [Abstract] 
COMPREHENSIVE INCOME (LOSS)

6.       COMPREHENSIVE INCOME (LOSS)

 

Comprehensive income (loss) includes changes in the fair value of certain financial derivative instruments that qualify for hedge accounting, unrealized gains and losses on certain investments, and actuarial gains/losses arising from the Company's postretirement benefit obligation. The differences between Net income (loss) and Comprehensive income (loss) for the three and nine months ended September 30, 2011 and 2010, were as follows:

 

   Three months ended September 30, 
(In millions)2011 2010 
         
         
Net income (loss)$ (140) $ 205 
 Unrealized gain (loss) on fuel derivative instruments,      
  net of deferred taxes of ($233) and $124  (372)   199 
 Unrealized gain (loss) on interest rate swaps,      
  net of deferred taxes of ($19) and ($7)  (30)   (12) 
 Other, net of deferred taxes of ($3) and $1  (4)   1 
 Total other comprehensive income (loss)  (406)   188 
         
Comprehensive income (loss)$ (546) $ 393 
         

   Nine months ended September 30, 
(In millions)2011 2010 
         
         
Net income$ 26 $ 328 
 Unrealized gain (loss) on fuel derivative instruments,      
  net of deferred taxes of ($137) and $100  (219)   160 
 Unrealized gain (loss) on interest rate swaps,      
  net of deferred taxes of ($22) and ($21)  (34)   (34) 
 Other, net of deferred taxes of $1 and $0  2   (1) 
 Total other comprehensive income (loss)  (251)   125 
         
Comprehensive income (loss)$ (225) $ 453 

A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three and nine months ended September 30, 2011:

 

  Fuel Interest    Accumulated other 
  hedge rate    comprehensive 
(In millions)derivatives derivatives Other income (loss) 
Balance at June 30, 2011$ (97) $ (38) $ 28 $ (107) 
 Changes in fair value  (417)   (30)   (4)   (451) 
 Reclassification to earnings  45   -   -   45 
Balance at September 30, 2011$ (469) $ (68) $ 24 $ (513) 

  Fuel Interest    Accumulated other 
  hedge rate    comprehensive 
(In millions)derivatives derivatives Other income (loss) 
Balance at December 31, 2010$ (250) $ (34) $ 22 $ (262) 
 Changes in fair value  (297)   (34)   2   (329) 
 Reclassification to earnings  78   -   -   78 
Balance at September 30, 2011$ (469) $ (68) $ 24 $ (513)