United Airlines 2014 Annual Report Download - page 98
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Table of Contents
We have master trading agreements with all of our fuel hedging counterparties that allow us to net our fuel hedge derivative positions. We have elected not to
net the fair value positions and collateral recorded on our consolidated balance sheets. The following table shows the potential net fair value positions
(including fuel derivatives and related collateral) had we elected to offset. The table reflects offset at the counterparty level (in millions):
Receivables $ — $ 89
Other assets: Other, net — 15
Current liabilities: Other (209) —
Other liabilities and deferred credits: Other (30) —
Hedge derivatives assets (liabilities), net $ (239) $ 104
The following tables present the fuel hedge gains (losses) recognized during the periods presented and their classification in the financial statements (in
millions):
Fuel contracts $ (599) $ 39 $ (89) $ 18 $ (3) $ 5
Fuel contracts $ (462) $ 79 $ 38
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