Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Components of Comprehensive Income (Loss)

The differences between Net loss and Comprehensive income (loss) for the three months ended March 31, 2023 and 2022 were as follows:

	Three months ended March 31,
(in millions)	2023		2022
NET LOSS	$	(159)	$	(278)
Unrealized gain (loss) on fuel derivative instruments, net of   deferred taxes of ($44) and $151	(147)		498
Unrealized gain on interest rate derivative instruments, net of   deferred taxes of $0 and $2	—		5
Total other comprehensive income (loss)	$	(147)	$	503
COMPREHENSIVE INCOME (LOSS)	$	(306)	$	225

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 months ended March 31, 2023:

(in millions)	Fuel derivatives		Interest rate derivatives		Defined benefit plan items			Deferred tax impact		Accumulated other comprehensive income
Balance at December 31, 2022	$	305	$	(32)	$	170		$	(99)	$	344
Changes in fair value	(163)		(2)		—			38		(127)
Reclassification to earnings	(28)		2		—		(a)	6		(20)
Balance at March 31, 2023	$	114	$	(32)	$	170		$	(55)	$	197

Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table illustrates the significant amounts reclassified out of each component of AOCI for the three months ended March 31, 2023:

Three months ended March 31, 2023
(in millions)	Amounts reclassified from AOCI		Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income (Loss)
AOCI components
Unrealized (gain) on fuel derivative instruments	$	(28)	Fuel and oil expense
	(6)		Less: Tax expense
	$	(22)	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	$	(20)	Net of tax