Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) includes changes in fair value of our aircraft fuel derivatives which qualify for hedge accounting and unrealized gain (loss) on available-for-sale securities. A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the three months ended June 30, 2025 and 2024 is as follows (in millions): | | | | | | | | | | | | | | | | | | | Aircraft fuel derivatives (1) | | Available-for-sale securities | | Total | Balance of accumulated income at March 31, 2025 | $ | — | | | $ | 7 | | | $ | 7 | | Reclassifications into earnings, net of taxes of $0 | — | | | (5) | | | (5) | | Change in fair value, net of taxes of $0 | — | | | 5 | | | 5 | | Balance of accumulated income, at June 30, 2025 | $ | — | | | $ | 7 | | | $ | 7 | | | | | | | | Balance of accumulated loss, at March 31, 2024 | $ | — | | | $ | (1) | | | $ | (1) | | Reclassifications into earnings, net of taxes of $1 | 2 | | | — | | | 2 | | Change in fair value, net of taxes of $0 | (2) | | | — | | | (2) | | Balance of accumulated loss, at June 30, 2024 | $ | — | | | $ | (1) | | | $ | (1) | | | | | | | |
(1) Reclassified to aircraft fuel expense for the three months ended June 30, 2024. As of June 30, 2025 there were no outstanding fuel derivative contracts. A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the six months ended June 30, 2025 and 2024 is as follows (in millions): | | | | | | | | | | | | | | | | | | | Aircraft fuel derivatives (1) | | Available-for-sale securities | | Total | Balance of accumulated income, at December 31, 2024 | $ | — | | | $ | 2 | | | $ | 2 | | Reclassifications into earnings, net of taxes of $0 | — | | | (5) | | | (5) | | Change in fair value, net of taxes of $0 | — | | | 10 | | | 10 | | Balance of accumulated income, at June 30, 2025 | $ | — | | | $ | 7 | | | $ | 7 | | | | | | | | Balance of accumulated loss, at December 31, 2023 | $ | (3) | | | $ | (1) | | | $ | (4) | | Reclassifications into earnings, net of taxes of $1 | 4 | | | — | | | 4 | | Change in fair value, net of taxes of $0 | (1) | | | — | | | (1) | | Balance of accumulated loss, at June 30, 2024 | $ | — | | | $ | (1) | | | $ | (1) | |
(1) Reclassified to aircraft fuel expense for the six months ended June 30, 2024. As of June 30, 2025 there were no outstanding fuel derivative contracts.
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