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COMPREHENSIVE INCOME
 3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME

Comprehensive income 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 for the three months ended March 31, 2016 and 2015, were as follows:

 
Three months ended March 31,
(in millions)
2016
 
2015
NET INCOME
$
511

 
$
453

Unrealized gain (loss) on fuel derivative instruments, net of
  deferred taxes of $93 and ($1)
160

 
(3
)
Unrealized loss on interest rate derivative instruments, net of
  deferred taxes of ($1) and $-
(3
)
 
(1
)
Total other comprehensive income (loss)
$
157

 
$
(4
)
COMPREHENSIVE INCOME
$
668

 
$
449


A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three months ended March 31, 2016:
(in millions)
Fuel derivatives
 
Interest rate derivatives
 
Defined benefit plan items
 
Other
 
Deferred tax
 
Accumulated other
comprehensive income (loss)
Balance at December 31, 2015
$
(1,666
)
 
$
(30
)
 
$
22

 
$
6

 
$
617

 
$
(1,051
)
Changes in fair value
(57
)
 
(8
)
 
—

 
—

 
25

 
(40
)
Reclassification to earnings
310

 
4

 
—

 
—

 
(117
)
 
197

Balance at March 31, 2016
$
(1,413
)
 
$
(34
)
 
$
22

 
$
6

 
$
525

 
$
(894
)

The following table illustrates the significant amounts reclassified out of each component of AOCI for the three months ended March 31, 2016:

Three months ended March 31, 2016
(in millions)
 
Amounts reclassified from AOCI
 
Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
 
 
Unrealized loss on fuel derivative instruments
 
$
310

 
Fuel and oil expense
 
 
115

 
Less: Tax Expense
 
 
$
195

 
Net of tax
Unrealized loss on interest rate derivative instruments
 
$
4

 
Interest expense
 
 
2

 
Less: Tax Expense
 
 
$
2

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
197

 
Net of tax