American Airlines 2004 Annual Report Download - page 77

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74
12. Accumulated Other Comprehensive Loss
The components of Accumulated other comprehensive loss are as follows (in millions):
Minimum
Pension
Liability
Unrealized
Gain/(Loss)
on
Investments
Unrealized
Gain/(Loss)
on Derivative
Financial
Instruments
Income
Tax
Benefit Total
Balance at December 31, 2001 $ (171) $ 10 $ (75) $ 90 $ (146)
Current year net change (1,122) (6) - - (1,128)
Reclassification of derivative
financial instruments into
earnings - - 5 - 5
Change in fair value of
derivative financial
instruments - - 138 - 138
Income tax benefit - - - 55 55
Balance at December 31, 2002 (1,293) 4 68 145 (1,076)
Current year net change 337 (3) - - 334
Reclassification of derivative
financial instruments into
earnings - - (146) - (146)
Change in fair value of
derivative financial
instruments - - 103 - 103
Balance at December 31, 2003 (956) 1 25 145 (785)
Current year net change 129 (4) - - 125
Reclassification of derivative
financial instruments into
earnings - - (89) - (89)
Change in fair value of
derivative financial
instruments - - 85 - 85
Balance at December 31, 2004 $ (827) $ (3) $ 21 $ 145 $ (664)
As of December 31, 2004, the Company estimates during the next twelve months it will reclassify from
Accumulated other comprehensive loss into net earnings (loss) approximately $13 million in net gains related to its
cash flow hedges.