US Airways 2005 Annual Report Download - page 265

Table of Contents
US Airways, Inc.
Notes to the Financial Statements — (Continued)
As of December 31, 2005, most of US Airways' receivables related to tickets sold to individual passengers through the use of major credit cards or to
tickets sold by other airlines and used by passengers on US Airways or its regional airline affiliates. These receivables are short-term, mostly being settled
within seven days after sale. Bad debt losses, which have been minimal in the past, have been considered in establishing allowances for doubtful accounts.
US Airways does not believe it is subject to any significant concentration of credit risk.
10. Accumulated other comprehensive income (loss), net
Comprehensive income encompasses net income and "other comprehensive income," which includes all other non-owner transactions and events that
change stockholders' equity. US Airways' other comprehensive income includes unrealized gains (losses) on available-for-sale securities, certain changes in
the fair value of certain derivative instruments and an adjustment for minimum pension liability, each shown net of income tax effects.
As presented in the accompanying statements of stockholders' equity (deficit), US Airways recognized a comprehensive loss of $120 million, including a
net loss of $120 million with no other comprehensive loss for the three months ended December 31, 2005. For the nine months ended September 30, 2005,
US Airways recognized comprehensive income of $378 million including net income of $280 million and other comprehensive income of $98 million.
US Airways recognized comprehensive loss of $621 million, including a net loss of $578 million and other comprehensive loss of $43 million, for the year
ended December 31, 2004. For the nine months ended December 31, 2003, US Airways recognized a comprehensive loss of $215 million including a net loss
of $160 million and other comprehensive loss of $55 million. US Airways recognized comprehensive income of $2.48 billion, including net income of
$1.61 billion and other comprehensive income of $870 million, for the three months ended March 31, 2003.
There was no activity within other comprehensive income during the three months ended December 31, 2005. The activity within other comprehensive
income (loss) and the related income tax effects for all other periods is as follows (in millions):
Predecessor Company
Nine Months Nine Months Three Months
Ended Year Ended Ended Ended
September 30, December 31, December 31, March 31,
2005 2004 2003 2003
Fuel cash flow hedges:
Reclassification adjustment for gains included in net income(loss) during the period $ (17) $ (75) $ (14) $ (16)
Change in fair value of hedges — 66 45 5
Unrealized gain (loss), net of reclassification adjustment (17) (9) 31 (11)
Unrealized gain (loss) on available-for-sale securities — — — —
Minimum pension liability adjustment 29 (34) (86) 85
Adjustments in connection with reorganization 86 — — 796
Other comprehensive income (loss) $ 98 $ (43) $ (55) $ 870
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