Company Overview and Financial Preparedness
Non-GAAP reconciliation
in millions, except per share amounts
Three months ended September 30,
2019
2020
2021
Fuel and oil expense, unhedged
Add: Premium cost of fuel contracts designated as hedges
1,070 $
20
372 $
999
13
14
Add (Deduct): Fuel hedge (gains) losses included in Fuel and oil expense, net
Fuel and oil expense, as reported
(6)
(23)
1,090
379 $
990
Add: Contracts settling in the current period, but for which losses were reclassified
from AOCI
6
5
Add: Premium cost of fuel contracts not designated as hedges
11
11
Fuel and oil expense, excluding special items (economic)
$
1,090 $
396 $
1,006
Total operating expenses, as reported
4,820 $
3,204 $
3,946
Add: Fuel contracts settling in the current period, but for which losses were reclassified
from AOCI
6
5
Add: Premium cost of fuel contracts not designated as hedges
11
11
Add: Payroll support and voluntary Employee programs, net
149
776
Total operating expenses, excluding special items
4,820 $
3,370 $
4,738
Deduct: Fuel and oil expense, excluding special items (economic)
(1,090)
Operating expenses, excluding Fuel and oil expense and special items
3,730 $
(396)
2,974 $
(1,006)
3,732
Deduct: Profitsharing expense
(144)
(77)
Operating expenses, excluding profitsharing, Fuel and oil expense and special
$
3,586 $
2,974 $
3,655
items
22
22
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