XML 30 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
New Accounting Pronouncements (Tables)
 3 Months Ended
Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The following table provides the impact of applying the New Revenue Standard to the Company’s previously reported balances as of December 31, 2017:

 
Balance as of December 31, 2017
(in millions)
As Reported
 
New Revenue Standard
 
As Recast
Accrued liabilities
$
1,777

 
$
(77
)
 
$
1,700

Air traffic liability
3,460

 
35

 
3,495

Air traffic liability - loyalty noncurrent
—

 
1,070

 
1,070

Deferred income taxes
2,358

 
(239
)
 
2,119

Retained earnings
14,621

 
(789
)
 
13,832



The impacts of applying the New Revenue Standard, the New Retirement Standard, and the New Hedging Standard to the Company’s unaudited Condensed Consolidated Statement of Comprehensive Income for the three months ended March 31, 2017, are as follows:

 
Three months ended March 31, 2017
(in millions), except per share amounts
As Reported
 
New Revenue Standard
 
New Retirement Standard
 
New Hedging Standard
 
As Recast
Passenger revenue
$
4,424

 
$
122

 
$
—

 
$
—

 
$
4,546

Other revenue
417

 
(151
)
 
—

 
—

 
266

Salaries, wages, and benefits
1,733

 
—

 
(3
)
 
—

 
1,730

Fuel and oil expense
922

 
—

 
—

 
34

 
956

Other operating expenses (a)
696

 
(8
)
 
—

 
—

 
688

Other (gains) losses, net
94

 
—

 
3

 
(34
)
 
63

Provision for income taxes
202

 
(9
)
 
—

 
—

 
193

Net income
351

 
(12
)
 
—

 
—

 
339

Net income per share, basic
0.57

 
(0.02
)
 
—

 
—

 
0.55

Net income per share, diluted
0.57

 
(0.02
)
 
—

 
—

 
0.55


(a) The Company reclassified $54 million from Aircraft rentals to Other operating expenses in the unaudited Condensed Consolidated Statement of Comprehensive Income for the three months ended March 31, 2017, to be comparative with current period's presentation. See Note 1 for further information.

The impact of applying the New Revenue Standard to the Company’s unaudited Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2017, are as follows (amounts may not recalculate due to rounding):
 
Three months ended March 31, 2017
(in millions)
As Reported
 
New Revenue Standard
 
As Recast
Net income
$
351

 
$
(12
)
 
$
339

Deferred income taxes
62

 
(9
)
 
54

Changes in certain assets and liabilities
874

 
21

 
894

Net cash provided by operating activities
1,625

 
—

 
1,625