United Airlines 2010 Annual Report Download - page 134

Pension and Other
Postretirement Benefits
Unrealized
Gain (Loss)
on
Derivatives
and other
Financial
Instruments
Income
Tax
Benefit
(Expense)Continental—Predecessor Company
Unrecognized
Prior Service
Cost
Unrecognized
Actuarial
Gains
(Losses) Total
Balance at December 31, 2007 ...................... $(250) $ (520) $ 29 $ 236 $ (505)
Derivative financial instruments:
Reclassification of losses into earnings ............ — — 170 — 170
Change in fair value ........................... — — (608) — (608)
Unrealized loss on student loan-related auction rate
securities ...................................... — — (3) — (3)
Employee benefit plans:
Reclassification of unrecognized net actuarial loss
into earnings ............................... — 85 — — 85
Reclassification of prior service cost into earnings . . . 31 — — — 31
Current year actuarial loss ...................... — (926) — — (926)
Balance at December 31, 2008 ...................... (219) (1,361) (412) 236 (1,756)
Derivative financial instruments:
Reclassification of losses into earnings ............ — — 375 — 375
Change in fair value of derivatives ............... — — 46 — 46
Unrealized gain on student loan-related auction rate
securities ...................................... — — 3 — 3
Employee benefit plans:
Reclassification of unrecognized net actuarial loss
into earnings ............................... — 138 — — 138
Reclassification of prior service cost into earnings . . . 31 — — — 31
Current year actuarial gain ...................... — 136 — — 136
Income tax expense on other comprehensive income (a) . . — — — (158) (158)
Balance at December 31, 2009 ...................... (188) (1,087) 12 78 (1,185)
Derivative financial instruments:
Reclassification of losses into earnings ............ — — 24 — 24
Change in fair value of derivatives ............... — — (13) — (13)
Employee benefit plans:
Reclassification of unrecognized net actuarial loss
into earnings ............................... — 62 — — 62
Reclassification of prior service cost into earnings . . . 23 — — — 23
Current year actuarial loss ...................... — (3) — — (3)
Balance at September 30, 2010 ...................... $(165) $(1,028) $ 23 $ 78 $(1,092)
Continental—Successor Company
Elimination of accumulated other comprehensive income
in connection with the Merger ..................... $165 $1,028 $ (23) $ (78) $ 1,092
Balance at October 1, 2010 ......................... — — — — —
Derivative financial instruments:
Reclassification of gains into earnings ............ — — (16) — (16)
Change in fair value of derivatives ............... — — 67 — 67
Unrealized gain on student loan-related auction rate
securities ...................................... — — 2 — 2
Current year actuarial gain .......................... — 243 — — 243
Income tax expense on other comprehensive income (a) . . — — — (6) (6)
Balance at December 31, 2010 ...................... $— $ 243 $ 53 $ (6) $ 290
(a) Taxes on other comprehensive income did not impact Continental’s net deferred tax position due to an offsetting tax
benefit on the loss from continuing operations as described in Note 8.
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