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 nine months ended September 30, 2022 and 2021 were as follows:


	Three months ended September 30,
(in millions)	2022		2021
NET INCOME	$	277	$	446
Unrealized gain (loss) on fuel derivative instruments, net of deferred taxes of ($153) and $39	(504)		129
Unrealized gain on interest rate derivative instruments, net of deferred taxes of $— and $1	4		2

Total other comprehensive income (loss)	$	(500)	$	131
COMPREHENSIVE INCOME (LOSS)	$	(223)	$	577


	Nine months ended September 30,
(in millions)	2022		2021
NET INCOME	$	759	$	909
Unrealized gain (loss) on fuel derivative instruments, net of deferred taxes of ($31) and $131	(101)		430
Unrealized gain on interest rate derivative instruments, net of deferred taxes of $5 and $2	18		8
Other, net of deferred taxes of $— and ($13)	—		(47)
Total other comprehensive income (loss)	$	(83)	$	391
COMPREHENSIVE INCOME	$	676	$	1,300

A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three and nine months ended September 30, 2022:


(in millions)	Fuel derivatives		Interest rate derivatives		Defined benefit plan items			Deferred tax		Accumulated other comprehensive income
Balance at June 30, 2022	$	1,017	$	(38)	$	66		$	(240)	$	805
Changes in fair value	(462)		2		—			108		(352)
Reclassification to earnings	(195)		2		—		(a)	45		(148)
Balance at September 30, 2022	$	360	$	(34)	$	66		$	(87)	$	305


(in millions)	Fuel derivatives		Interest rate derivatives		Defined benefit plan items			Deferred tax		Accumulated other comprehensive income
Balance at December 31, 2021	$	492	$	(57)	$	66		$	(113)	$	388
Changes in fair value	571		18		—			(137)		452
Reclassification to earnings	(703)		5		—		(a)	163		(535)
Balance at September 30, 2022	$	360	$	(34)	$	66		$	(87)	$	305

The following table illustrates the significant amounts reclassified out of each component of AOCI for the three and nine months ended September 30, 2022:


Three months ended September 30, 2022

(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	$	(195)	Fuel and oil expense

	(45)		Less: Tax expense
	$	(150)	Net of tax
Unrealized loss on interest rate derivative instruments	$	2	Other operating expenses
	—		Less: Tax expense
	$	2	Net of tax




Total reclassifications for the period	$	(148)	Net of tax


Nine months ended September 30, 2022

(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	$	(703)	Fuel and oil expense

	(164)		Less: Tax expense
	$	(539)	Net of tax
Unrealized loss on interest rate derivative instruments	$	5	Other operating expenses
	1		Less: Tax expense
	$	4	Net of tax




Total reclassifications for the period	$	(535)	Net of tax