Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis

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

(in millions)	Fair Value Measurements as of June 30, 2013
Description	Total		Level 1		Level 2		Level 3
Short-term investments 1, 2
Money market funds	$	1,306	$	1,306	$	—	$	—
Government agency investments	1,475		—		1,475		—
Repurchase investments	235		—		235		—
Corporate obligations	2,017		—		2,017		—
Bank notes / Certificates of deposit / Time deposits	571		—		571		—
	5,604		1,306		4,298		—
Restricted cash and short-term investments 1	863		863		—		—
Fuel derivative contracts, net 1	5		—		5		—
Total	$	6,472	$	2,169	$	4,303	$	—

¹ Unrealized gains or losses on short-term investments, restricted cash and short-term investments and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date.

² The Company’s short-term investments mature in one year or less except for $350 million of Bank notes, $1.4 billion of U.S. Government obligations and $782 million of Corporate obligations which have maturity dates exceeding one year.

Components Of Long-Term Debt

The carrying value and estimated fair values of the Company’s long-term debt, including current maturities, not classified as subject to compromise, were (in millions):

	June 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured variable and fixed rate indebtedness	$	2,925	$	2,873	$	3,297	$	3,143
Enhanced equipment trust certificates	2,308		2,379		1,741		1,811
6.0%—8.5% special facility revenue bonds	1,314		1,454		1,313		1,308
7.50% senior secured notes	1,000		1,159		1,000		1,074
Senior secured credit facility due 2019 (rate of 4.75% at June 30, 2013)	1,045		1,050		—		—
AAdvantage Miles advance purchase	693		699		772		779
Other	27		27		27		27
	$	9,312	$	9,641	$	8,150	$	8,142

The carrying value and estimated fair value of the Company’s long-term debt, including current maturities, classified as subject to compromise, were (in millions):

	June 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured variable and fixed rate indebtedness	$	149	$	131	$	172	$	154
6.0%—8.5% special facility revenue bonds	186		194		186		186
	$	335	$	325	$	358	$	340