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Comprehensive Income (Tables)
9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
Components of Comprehensive Income
The differences between Net income and Comprehensive income for the three and nine months ended September 30, 2013 and 2012 were as follows:

 
Three months ended September 30,
(in millions)
2013
 
2012
NET INCOME
$
259

 
$
16

Unrealized gain on fuel derivative instruments, net of
  deferred taxes of $76 and $120
129

 
192

Unrealized gain (loss) on interest rate derivative instruments, net of
  deferred taxes of $2 and ($2)
2

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

 
6

Total other comprehensive income
$
134

 
$
195

COMPREHENSIVE INCOME
$
393

 
$
211


 
Nine months ended September 30,
(in millions)
2013
 
2012
NET INCOME
$
542

 
$
343

Unrealized gain (loss) on fuel derivative instruments, net of
  deferred taxes of ($16) and $63
(25
)
 
100

Unrealized gain (loss) on interest rate derivative instruments, net of
  deferred taxes of $16 and ($3)
26

 
(5
)
Other, net of deferred taxes of $6 and $2
4

 
4

Total other comprehensive income
$
5

 
$
99

COMPREHENSIVE INCOME
$
547

 
$
442

Rollforward of the Amounts Included in AOCI, Net of Taxes
A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three and nine months ended September 30, 2013:

(in millions)
Fuel derivatives
 
Interest rate derivatives
 
Defined benefit plan items
 
Other
 
Deferred tax
 
Accumulated other
comprehensive income (loss)
Balance at June 30, 2013
$
(349
)
 
$
(70
)
 
$
26

 
$
(3
)
 
$
148

 
(248
)
Changes in fair value
168

 
(3
)
 

 
5

 
(64
)
 
106

Reclassification to earnings
37

 
7

 

 

 
(16
)
 
28

Balance at September 30, 2013
$
(144
)
 
$
(66
)
 
$
26

 
$
2

 
$
68

 
$
(114
)

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

 
$
(8
)
 
$
74

 
$
(119
)
Changes in fair value
(181
)
 
20

 

 
10

 
54

 
(97
)
Reclassification to earnings
140

 
22

 

 

 
(60
)
 
102

Balance at September 30, 2013
$
(144
)
 
$
(66
)
 
$
26

 
$
2

 
$
68

 
$
(114
)
Reclassification out of Accumulated Other Comprehensive Income
The following tables illustrate the significant amounts reclassified out of each component of AOCI for the three and nine months ended September 30, 2013:

Three months ended September 30, 2013
(in millions)
 
Amounts reclassified from AOCI
 
Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
 
 
Unrealized gain on fuel derivative instruments
 
$
37

 
Fuel and oil expense
 
 
$
13

 
Less: Tax Expense
 
 
$
24

 
Net of tax
Unrealized gain on interest rate derivative instruments
 
$
7

 
Interest expense
 
 
$
3

 
Less: Tax Expense
 
 
$
4

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
28

 
Net of tax

Nine months ended September 30, 2013
(in millions)
 
Amounts reclassified from AOCI
 
Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
 
 
Unrealized gain on fuel derivative instruments
 
$
140

 
Fuel and oil expense
 
 
$
52

 
Less: Tax Expense
 
 
$
88

 
Net of tax
Unrealized gain on interest rate derivative instruments
 
$
22

 
Interest expense
 
 
$
8

 
Less: Tax Expense
 
 
$
14

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
102

 
Net of tax