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COMPREHENSIVE INCOME
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
COMPREHENSIVE INCOME
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 and Comprehensive income (loss) for the three and six months ended June 30, 2013 and 2012 were as follows:

 
Three months ended June 30,
(in millions)
2013
 
2012
NET INCOME
$
224

 
$
228

Unrealized loss on fuel derivative instruments, net of
  deferred taxes of ($90) and ($156)
(152
)
 
(251
)
Unrealized gain (loss) on interest rate derivative instruments, net of
  deferred taxes of $9 and ($5)
15

 
(8
)
Other, net of deferred taxes of $ - and ($3)
—

 
(4
)
Total other comprehensive loss
$
(137
)
 
$
(263
)
COMPREHENSIVE INCOME (LOSS)
$
87

 
$
(35
)

 
Six months ended June 30,
(in millions)
2013
 
2012
NET INCOME
$
283

 
$
327

Unrealized loss on fuel derivative instruments, net of
  deferred taxes of ($91) and ($57)
(155
)
 
(92
)
Unrealized gain (loss) on interest rate derivative instruments, net of
  deferred taxes of $15 and ($1)
23

 
(2
)
Other, net of deferred taxes of $2 and ($1)
3

 
(2
)
Total other comprehensive loss
$
(129
)
 
$
(96
)
COMPREHENSIVE INCOME
$
154

 
$
231



A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three and six months ended June 30, 2013:

(in millions)
Fuel derivatives
 
Interest rate derivatives
 
Defined benefit pension items
 
Other
 
Deferred tax
 
Accumulated other
comprehensive income (loss)
Balance at March 31, 2013
$
(107
)
 
$
(94
)
 
$
26

 
$
(3
)
 
$
67

 
$
(111
)
Changes in fair value
(301
)
 
18

 
—

 
—

 
105

 
(178
)
Reclassification to earnings
59

 
6

 
—

 
—

 
(24
)
 
41

Balance at June 30, 2013
$
(349
)
 
$
(70
)
 
$
26

 
$
(3
)
 
$
148

 
$
(248
)

(in millions)
Fuel derivatives
 
Interest rate derivatives
 
Defined benefit pension items
 
Other
 
Deferred tax
 
Accumulated other
comprehensive income (loss)
Balance at December 31, 2012
$
(103
)
 
$
(108
)
 
$
26

 
$
(8
)
 
$
74

 
$
(119
)
Changes in fair value
(347
)
 
24

 
—

 
5

 
117

 
(201
)
Reclassification to earnings
101

 
14

 
—

 
—

 
(43
)
 
72

Balance at June 30, 2013
$
(349
)
 
$
(70
)
 
$
26

 
$
(3
)
 
$
148

 
$
(248
)


The following tables illustrate the significant amounts reclassified out of each component of AOCI for the three and six months ended June 30, 2013:

Three months ended June 30, 2013
 
 
Amounts reclassified from AOCI
 
 
(in millions)
 
 
Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
 
 
Unrealized gain on fuel derivative instruments
 
$
59

 
Fuel and oil expense
 
 
$
22

 
Less: Tax Expense
 
 
$
37

 
Net of tax
Unrealized gain on interest rate derivative instruments
 
$
6

 
Interest expense
 
 
$
2

 
Less: Tax Expense
 
 
$
4

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
41

 
Net of tax

Six months ended June 30, 2013
 
 
Amounts reclassified from AOCI
 
 
(in millions)
 
 
Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
 
 
Unrealized gain on fuel derivative instruments
 
$
101

 
Fuel and oil expense
 
 
$
38

 
Less: Tax Expense
 
 
$
63

 
Net of tax
Unrealized gain on interest rate derivative instruments
 
$
14

 
Interest expense
 
 
$
5

 
Less: Tax Expense
 
 
$
9

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
72

 
Net of tax