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NOTE13.ACCUMULATEDOTHERCOMPREHENSIVELOSS
Thefollowingtableshowsthecomponentsofaccumulatedothercomprehensiveloss:
(inmillions)
Pensionand
OtherBenefits
Liabilities(2)
Derivative
Contracts(3) Investments Total
BalanceatJanuary1,2013 $ (8,307) $ (263) $ (7) $ (8,577)
Changesinvalue(netoftaxeffectof$0) 2,760 296 (19) 3,037
Reclassificationintoearnings(netoftaxeffectof$321)(1) 224 186 — 410
BalanceatDecember31,2013 (5,323) 219 (26) (5,130)
Changesinvalue(netoftaxeffectof$1,276) (2,267) 83 10 (2,174)
Reclassificationintoearnings(netoftaxeffectof$4)(1) 73 (80) — (7)
BalanceatDecember31,2014 (7,517) 222 (16) (7,311)
Changesinvalue(netoftaxeffectof$41) 10 43 (45) 8
Reclassificationintoearnings(netoftaxeffectof$16)(1) 153 (125) — 28
BalanceatDecember31,2015 $ (7,354) $ 140 $ (61) $ (7,275)
(1) AmountsreclassifiedfromAOCIforpensionandotherbenefitsarerecordedinsalariesandrelatedcostsintheConsolidatedStatementsofOperations.AmountsreclassifiedfromAOCIfor
derivativecontractsdesignatedasforeigncurrencycashflowhedgesandinterestratecashflowhedgesarerecordedinpassengerrevenueandinterestexpense,net,respectively,inthe
ConsolidatedStatementsofOperations.
(2)Includes$1.9billionofdeferredincometaxexpense,primarilyrelatedtopensionobligations,thatwillnotberecognizedinnetincomeuntilthepensionobligationsarefullyextinguished.
(3)Included$321millionofdeferredincometaxexpensethatremainedinAOCIuntilDecember2013whenallamountsinAOCIthatrelatedtoderivativecontractsdesignatedasfuelcash
flowhedgeswererecognizedintheConsolidatedStatementofOperations.
NOTE14.SEGMENTSANDGEOGRAPHICINFORMATION
Operatingsegmentsaredefinedascomponentsofanenterpriseaboutwhichseparatefinancialinformationisavailablethatisevaluatedregularlybythechief
operatingdecisionmaker,ordecisionmakinggroup,andisusedinresourceallocationandperformanceassessments.Ourchiefoperatingdecisionmakeris
consideredtobeourexecutiveleadershipteam.Ourexecutiveleadershipteamregularlyreviewsdiscreteinformationforourtwooperatingsegments,whichare
determinedbytheproductsandservicesprovided:ourairlinesegmentandourrefinerysegment.
Airline Segment
OurairlinesegmentismanagedasasinglebusinessunitthatprovidesscheduledairtransportationforpassengersandcargothroughouttheU.S.andaroundthe
worldandotherancillaryairlineservices.Thisallowsustobenefitfromanintegratedrevenuepricingandroutenetwork.Ourflightequipmentformsonefleet,
whichisdeployedthroughasinglerouteschedulingsystem.Whenmakingresourceallocationdecisions,ourchiefoperatingdecisionmakerevaluatesflight
profitabilitydata,whichconsidersaircrafttypeandrouteeconomics,butgivesnoweighttothefinancialimpactoftheresourceallocationdecisiononanindividual
carrierbasis.Ourobjectiveinmakingresourceallocationdecisionsistooptimizeourconsolidatedfinancialresults.
Refinery Segment
InJune2012,ourwholly-ownedsubsidiaries,MonroeEnergy,LLC,andMIPC,LLC(collectively,“Monroe”),acquiredtheTraineroilrefineryandrelated
assetslocatednearPhiladelphia,Pennsylvaniafor$180millionaspartofourstrategytomitigatethecostoftherefiningmarginreflectedinthepriceofjetfuel.
TheacquisitionincludedpipelinesandterminalassetsthatallowtherefinerytosupplyjetfueltoourairlineoperationsthroughouttheNortheasternU.S.,including
ourNewYorkhubsatLaGuardiaandJFK.Monroereceiveda$30milliongrantfromtheCommonwealthofPennsylvania.
Weaccountedfortherefineryacquisitionasabusinesscombination.Therefinery,pipelinesandterminalassetsacquiredwererecordedat$180millionin
propertyandequipment,netbasedontheirrespectivefairvaluesontheclosingdateofthetransaction.
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