United Airlines 2014 Annual Report Download - page 80
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Table of Contents
The tables below present the components of the Company’s accumulated other comprehensive income (loss) (“AOCI”), net of tax (in millions):
Balance at December 31, 2011 $ (312) $ (100) $ (5) $ (417)
Other comprehensive loss before reclassifications (747)(b) (51) 11 (787)
Amounts reclassified from accumulated other
comprehensive income 17 141 — 158
Net current-period other comprehensive income (loss) (730) 90 11 (629)
Balance at December 31, 2012 $ (1,042) $ (10) $ 6 $ (1,046)
Other comprehensive income before reclassifications 1,584 (b) 39 7 1,630
Amounts reclassified from accumulated other
comprehensive income 42 (18) — 24
Net current-period other comprehensive income (loss) 1,626 21 7 1,654
Balance at December 31, 2013 $ 584 $ 11 $ 13 $ 608
Other comprehensive income before reclassifications (1,106)(b) (599) — (1,705)
Amounts reclassified from accumulated other
comprehensive income (65) 89 (6) 18
Net current-period other comprehensive income (loss) (1,171) (510) (6) (1,687)
Balance at December 31, 2014 $ (587) $ (499) $ 7 $ (1,079)
Derivatives designated as cash flow hedges
Fuel contracts-reclassifications of (gains) losses into earnings
(c) $ 89 $ (18) $ 141 Aircraft fuel
Amortization of pension and post-retirement items
Amortization of unrecognized (gains) losses and prior service
cost and the effect of curtailments and settlements (c) (d) (65) 42 17 Salaries and related costs
Investments and other
Available for sale securities—reclassifications of gains into
earnings (c) (6) — — Miscellaneous, net
(a) UAL and United amounts are substantially the same except for an additional $6 million of income tax benefit at United in 2013. In addition, United had additional gains related to investments and other of $1
million in both 2012 and 2013.
(b) For 2014, prior service credits increased by $3 million and actuarial losses increased by approximately $1.1 billion. For 2013, prior service credits increased by $331 million and actuarial gains increased by
approximately $1.3 billion. The amount for 2012 was not material.
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