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Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Components of Comprehensive Income
The differences between Net income and Comprehensive income for the three and six months ended June 30, 2016 and 2015 were as follows:

 
Three months ended June 30,
(in millions)
2016
 
2015
NET INCOME
$
820

 
$
608

Unrealized gain on fuel derivative instruments, net of
  deferred taxes of $155 and $44
265

 
74

Unrealized gain on interest rate derivative instruments, net of
  deferred taxes of $1 and $2
1

 
4

Total other comprehensive income
$
266

 
$
78

COMPREHENSIVE INCOME
$
1,086

 
$
686


 
Six months ended June 30,
(in millions)
2016
 
2015
NET INCOME
$
1,333

 
$
1,061

Unrealized gain on fuel derivative instruments, net of
  deferred taxes of $249 and $43
424

 
71

Unrealized gain (loss) on interest rate derivative instruments, net of
  deferred taxes of ($1) and $2
(1
)
 
3

Total other comprehensive income
$
423

 
$
74

COMPREHENSIVE INCOME
$
1,756

 
$
1,135
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 six months ended June 30, 2016:
(in millions)
Fuel derivatives
 
Interest rate derivatives
 
Defined benefit plan items
 
Other
 
Deferred tax
 
Accumulated other
comprehensive income (loss)
Balance at March 31, 2016
$
(1,413
)
 
$
(34
)
 
$
22

 
$
6

 
$
525

 
$
(894
)
Changes in fair value
184

 
(2
)
 
—

 
—

 
(68
)
 
114

Reclassification to earnings
236

 
4

 
—

 
—

 
(88
)
 
152

Balance at June 30, 2016
$
(993
)
 
$
(32
)
 
$
22

 
$
6

 
$
369

 
$
(628
)


(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
127

 
(10
)
 
—

 
—

 
(43
)
 
74

Reclassification to earnings
546

 
8

 
—

 
—

 
(205
)
 
349

Balance at June 30, 2016
$
(993
)
 
$
(32
)
 
$
22

 
$
6

 
$
369

 
$
(628
)
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 six months ended June 30, 2016:

Three months ended June 30, 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
 
$
236

 
Fuel and oil expense
 
 
87

 
Less: Tax Expense
 
 
$
149

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

 
Interest expense
 
 
1

 
Less: Tax Expense
 
 
$
3

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
152

 
Net of tax

Six months ended June 30, 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
 
$
546

 
Fuel and oil expense
 
 
202

 
Less: Tax Expense
 
 
$
344

 
Net of tax
Unrealized loss on interest rate derivative instruments
 
$
8

 
Interest expense
 
 
3

 
Less: Tax Expense
 
 
$
5

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
349

 
Net of tax