Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at gross fair value on a recurring basis are summarized below:



	Fair Value Measurements as of September 30, 2013
	Total		Level 1		Level 2		Level 3
	(in millions)
Cash and cash equivalents	$	540.2	$	540.2	$	—	$	—
Jet fuel swaps	1.7		—		1.7		—
Total assets	$	541.9	$	540.2	$	1.7	$	—

Jet fuel swaps	$	4.9	$	—	$	4.9	$	—
Total liabilities	$	4.9	$	—	$	4.9	$	—



	Fair Value Measurements as of December 31, 2012
	Total		Level 1		Level 2		Level 3
	(in millions)
Cash and cash equivalents	$	416.8	$	416.8	$	—	$	—
Jet fuel options	0.3		—		—		0.3
Total assets	$	417.1	$	416.8	$	—	$	0.3

Total liabilities	$	—	$	—	$	—	$	—

Assets and liabilities measured at fair value on a recuring basis using significant unobservable inputs (level 3)

The following table presents the Company’s activity for assets and liabilities measured at gross fair value on a recurring basis using significant unobservable inputs (Level 3):



	Jet Fuel Option Activity for the Three Months Ended September 30, 2013
	(in millions)
Balance at June 30, 2013	$	(0.3	)
Total realized or unrealized gains (losses) included in earnings, net	0.5
Settlements, net	(0.2		)
Balance at September 30, 2013	$	—



	Jet Fuel Option Activity for the Nine Months Ended September 30, 2013
	(in millions)
Balance at December 31, 2012	$	0.3
Total realized or unrealized gains (losses) included in earnings, net	0.1
Settlements, net	(0.4		)
Balance at September 30, 2013	$	—