| ACCUMULATED OTHER COMPREHENSIVE INCOME Comprehensive income includes changes in the fair value of certain financial derivative instruments that qualify for hedge accounting and actuarial gains/losses arising from the Company’s postretirement benefit obligation. A rollforward of the amounts included in AOCI, net of taxes, is shown below for 2023 and 2022:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | Fuel derivatives | | Interest rate derivatives | | Defined benefit plan items | | | | Deferred tax impact | | Accumulated other
comprehensive income | | Balance at December 31, 2021 | $ | 492 | | | $ | (57) | | | $ | 66 | | | | | $ | (113) | | | $ | 388 | | | | | | | | | | | | | | | | | | | | | | | | | | | Changes in fair value | 645 | | | 18 | | | 106 | | | | | (179) | | | 590 | | | Reclassification to earnings | (832) | | | 7 | | | (2) | | | | | 193 | | | (634) | | | Balance at December 31, 2022 | $ | 305 | | | $ | (32) | | | $ | 170 | | | | | $ | (99) | | | $ | 344 | | | | | | | | | | | | | | | Changes in fair value | (312) | | | 10 | | | (11) | | | | | 73 | | | (240) | | | Reclassification to earnings | (128) | | | 7 | | | (10) | | | | | 27 | | | (104) | | | Balance at December 31, 2023 | $ | (135) | | | $ | (15) | | | $ | 149 | | | | | $ | 1 | | | $ | — | |
The following table illustrates the significant amounts reclassified out of each component of AOCI for the year ended December 31, 2023:
| | | | | | | | | | | | | | | | Year ended December 31, 2023 | | | | | | | (in millions) | | Amounts reclassified from AOCI | | Affected line item in the Consolidated Statement of Income | | AOCI components | | | | Unrealized (gain) on fuel derivative instruments | | $ | (128) | | | Fuel and oil expense | | | | | | | | (29) | | | Less: Tax expense | | | $ | (99) | | | Net of tax | | Unrealized loss on interest rate derivative instruments | | 7 | | | Other operating expenses | | | 1 | | | Less: Tax expense | | | $ | 6 | | | Net of tax | | Unrealized (gain) on defined benefit plan | | $ | (10) | | | Other (gains) losses, net | | | $ | (3) | | | Less: Tax expense | | | $ | (7) | | | Net of tax | | Other | | $ | — | | | Other | | | 4 | | | Less: Tax expense | | | $ | (4) | | | Net of tax | | | | | | | Total reclassifications for the period | | $ | (104) | | | Net of tax |
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