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COMPREHENSIVE INCOME
 9 Months Ended
Sep. 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 nine months ended September 30, 2017 and 2016 were as follows:

 
Three months ended September 30,
(in millions)
2017
 
2016
NET INCOME
$
503

 
$
388

Unrealized gain on fuel derivative instruments, net of
  deferred taxes of $73 and $72
123

 
122

Unrealized gain on interest rate derivative instruments, net of
  deferred taxes of $- and $2
2

 
4

Other, net of deferred taxes of $2 and $2
2

 
3

Total other comprehensive income
$
127

 
$
129

COMPREHENSIVE INCOME
$
630

 
$
517


 
Nine months ended September 30,
(in millions)
2017
 
2016
NET INCOME
$
1,600

 
$
1,722

Unrealized gain on fuel derivative instruments, net of
  deferred taxes of $105 and $321
178

 
546

Unrealized gain on interest rate derivative instruments, net of
  deferred taxes of $2 and $1
5

 
3

Other, net of deferred taxes of $2 and $2
4

 
3

Total other comprehensive income
$
187

 
$
552

COMPREHENSIVE INCOME
$
1,787

 
$
2,274


A rollforward of the amounts included in AOCI is shown below for the three and nine months ended September 30, 2017:
(in millions)
Fuel derivatives
 
Interest rate derivatives
 
Defined benefit plan items
 
Other
 
Deferred tax
 
Accumulated other
comprehensive income (loss)
Balance at June 30, 2017
$
(412
)
 
$
(13
)
 
$
(14
)
 
$
22

 
$
154

 
$
(263
)
Changes in fair value
45

 
—

 
—

 
4

 
(18
)
 
31

Reclassification to earnings
151

 
2

 
—

 
—

 
(57
)
 
96

Balance at September 30, 2017
$
(216
)
 
$
(11
)
 
$
(14
)
 
$
26

 
$
79

 
$
(136
)

(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
(165
)
 
(1
)
 
—

 
6

 
59

 
(101
)
Reclassification to earnings
448

 
8

 
—

 
—

 
(168
)
 
288

Balance at September 30, 2017
$
(216
)
 
$
(11
)
 
$
(14
)
 
$
26

 
$
79

 
$
(136
)

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

Three months ended September 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
 
$
151

 
Fuel and oil expense
 
 
57

 
Less: Tax expense
 
 
$
94

 
Net of tax
Unrealized loss on interest rate derivative instruments
 
$
2

 
Interest expense
 
 
—

 
Less: Tax expense
 
 
$
2

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
96

 
Net of tax

Nine months ended September 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
 
$
448

 
Fuel and oil expense
 
 
166

 
Less: Tax Expense
 
 
$
282

 
Net of tax
Unrealized loss on interest rate derivative instruments
 
$
8

 
Interest expense
 
 
2

 
Less: Tax Expense
 
 
$
6

 
Net of tax
 
 
 
 
 
Total reclassifications for the period
 
$
288

 
Net of tax