COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 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 and six months endedJune 30,2017 and 2016 were as follows:

	Three months ended June 30,
(in millions)	2017		2016
NET INCOME	$	746	$	820
Unrealized gain on fuel derivative instruments, net of   deferred taxes of $27 and $155	46		265
Unrealized gain on interest rate derivative instruments, net of   deferred taxes of $1 and $1	1		1
Other, net of deferred taxes of $- and $-	2		—
Total other comprehensive income	$	49	$	266
COMPREHENSIVE INCOME	$	795	$	1,086

	Six months ended June 30,
(in millions)	2017		2016
NET INCOME	$	1,097	$	1,333
Unrealized gain on fuel derivative instruments, net of   deferred taxes of $32 and $249	55		424
Unrealized gain (loss) on interest rate derivative instruments, net of   deferred taxes of $2 and ($1)	3		(1		)
Other, net of deferred taxes of $- and $-	2		—
Total other comprehensive income	$	60	$	423
COMPREHENSIVE INCOME	$	1,157	$	1,756

A rollforward of the amounts included in AOCI is shown below for the three and six months endedJune 30, 2017:

(in millions)	Fuel derivatives			Interest rate derivatives			Defined benefit plan items			Other		Deferred tax			Accumulated other comprehensive income (loss)
Balance at March 31, 2017	$	(485	)	$	(15	)	$	(14	)	$	20	$	182		$	(312	)
Changes in fair value	(85		)	(1		)	—			2		31			(53		)
Reclassification to earnings	158			3			—			—		(59		)	102
Balance at June 30, 2017	$	(412	)	$	(13	)	$	(14	)	$	22	$	154		$	(263	)

(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	(210		)	(1		)	—			2		77			(132		)
Reclassification to earnings	297			6			—			—		(111		)	192
Balance at June 30, 2017	$	(412	)	$	(13	)	$	(14	)	$	22	$	154		$	(263	)

The following tables illustrate the significant amounts reclassified out of each component of AOCI for the three and six months endedJune 30, 2017:

Three months ended June 30, 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	$	158	Fuel and oil expense
	58		Less: Tax expense
	$	100	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	$	102	Net of tax

Six months ended June 30, 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	$	297	Fuel and oil expense
	109		Less: Tax Expense
	$	188	Net of tax
Unrealized loss on interest rate derivative instruments	$	6	Interest expense
	2		Less: Tax Expense
	$	4	Net of tax
Total reclassifications for the period	$	192	Net of tax