COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2017

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 endedMarch 31,2017 and 2016 were as follows:

	Three months ended March 31,
(in millions)	2017		2016
NET INCOME	$	351	$	513
Unrealized gain on fuel derivative instruments, net of   deferred taxes of $5 and $93	9		160
Unrealized gain (loss) on interest rate derivative instruments, net of   deferred taxes of $1 and ($1)	2		(3		)
Total other comprehensive income	$	11	$	157
COMPREHENSIVE INCOME	$	362	$	670

A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three months endedMarch 31, 2017:

(in millions)	Fuel derivatives			Interest rate derivatives			Defined benefit plan items			Other		Deferred tax			Accumulated other comprehensive income (loss)
Balance at December 31, 2016	$	(499	)	$	(18	)	$	(14	)	$	20	$	188		$	(323	)
Changes in fair value	(125		)	—			—			—		46			(79		)
Reclassification to earnings	139			3			—			—		(52		)	90
Balance at March 31, 2017	$	(485	)	$	(15	)	$	(14	)	$	20	$	182		$	(312	)

The following table illustrates the significant amounts reclassified out of each component of AOCI for the three months endedMarch 31, 2017:

Three months ended March 31, 2017
(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	$	139	Fuel and oil expense
	51		Less: Tax expense
	$	88	Net of tax
Unrealized loss on interest rate derivative instruments	$	3	Interest expense
	1		Less: Tax expense
	$	2	Net of tax
Total reclassifications for the period	$	90	Net of tax