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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets and Funded Status
The following tables provide a reconciliation of the changes in the pension and retiree medical and other postretirement benefits obligations, fair value of plan assets and funded status as of December 31, 2025 and 2024:
 Pension BenefitsRetiree Medical and 
Other Postretirement Benefits
 2025202420252024
 (In millions)
Benefit obligation at beginning of period$13,349 $14,410 $1,308 $1,325 
Service cost23 29 
Interest cost730 723 69 64 
Actuarial loss (gain) (1), (2)
168 (741)(11)(58)
Plan amendments (3)
— — — 55 
Benefit payments(919)(913)(130)(107)
Other— (132)— — 
Benefit obligation at end of period$13,331 $13,349 $1,259 $1,308 
Fair value of plan assets at beginning of period$12,254 $12,431 $128 $133 
Actual return on plan assets1,229 568 15 
Employer contributions (4)
228 300 105 93 
Benefit payments(919)(913)(130)(107)
Other— (132)— — 
Fair value of plan assets at end of period$12,792 $12,254 $118 $128 
Funded status at end of period$(539)$(1,095)$(1,141)$(1,180)
(1)The 2025 and 2024 pension actuarial loss (gain) primarily relates to the change in our weighted average discount rate assumption.
(2)The 2025 and 2024 retiree medical and other postretirement benefits actuarial gain primarily relates to changes in certain retirement assumptions, offset in part by increases in health care premiums and health care cost assumptions. Changes in our weighted average discount rate assumption also impacted the net actuarial gain in 2025 and 2024.
(3)In 2024 we remeasured our retiree medical and other postretirement benefits to account for enhanced retirement benefits pursuant to the ratification of new CBAs. As a result, we increased our postretirement benefits obligation by $55 million, which was included as a component of prior service cost in accumulated other comprehensive loss.
(4)In 2025 and 2024, we made required contributions of $224 million and $285 million, respectively, to our defined benefit pension plans.
Schedule of Amounts Recognized in Consolidated Balance Sheets
Balance Sheet Position
 Pension BenefitsRetiree Medical and 
Other Postretirement Benefits
 2025202420252024
 (In millions)
As of December 31:
Current liability$$$108 $142 
Noncurrent liability535 1,090 1,033 1,038 
Total liabilities$539 $1,095 $1,141 $1,180 
Schedule of Amounts Recognized in Other Comprehensive Income
Pension BenefitsRetiree Medical and 
Other Postretirement Benefits
2025202420252024
(In millions)
As of December 31:
Net actuarial loss (gain)$2,907 $3,128 $(395)$(408)
Prior service cost— 220 238 
Total accumulated other comprehensive loss (income), pre-tax
$2,907 $3,129 $(175)$(170)
Schedule of Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets
Plans with Projected Benefit Obligations Exceeding Fair Value of Plan Assets
 Pension Benefits
 20252024
 (In millions)
As of December 31:
Projected benefit obligation$8,820 $13,349 
Fair value of plan assets8,221 12,254 
Plans with Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets
 Pension BenefitsRetiree Medical and 
Other Postretirement Benefits
 2025202420252024
 (In millions)
As of December 31:
Accumulated benefit obligation$8,814 $13,341 $— $— 
Accumulated postretirement benefit obligation
— — 1,259 1,308 
Fair value of plan assets8,221 12,254 118 128 
Components of Net Periodic Benefit Cost (Income)
Net Periodic Benefit Cost (Income)
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 202520242023202520242023
 (In millions)
For the years ended December 31:
Defined benefit plans:
Service cost$$$$23 $29 $17 
Interest cost730 723 758 69 64 55 
Expected return on assets(929)(978)(918)(9)(10)(11)
Amortization of:
Prior service cost (benefit)— 18 17 14 (6)
Unrecognized net loss (gain)91 105 106 (27)(31)(34)
Net periodic benefit cost (income)$(104)$(148)$(34)$73 $66 $21 
Schedule of Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost
The following actuarial assumptions were used to determine our benefit obligations and net periodic benefit cost (income) for the periods presented:
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 2025202420252024
Benefit obligations as of December 31:
Weighted average discount rate5.5%5.7%5.3%5.6%
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 202520242023202520242023
Net periodic benefit cost (income) for the years ended December 31:
Weighted average discount rate5.7%5.2%5.6%5.6%5.3%5.7%
Weighted average expected rate of return on plan assets
7.75%8.0%8.0%7.75%8.0%8.0%
Weighted average health care cost trend rate assumed for next year (1)
N/AN/AN/A7.0%6.5%6.5%
(1)The weighted average health care cost trend rate at December 31, 2025 is assumed to decline gradually to 4.5% by 2036 and remain level thereafter.
Schedule of Expected Future Service Benefit Payments
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (approximately, in millions):
202620272028202920302031-2035
Pension benefits$984 $999 $1,012 $1,023 $1,029 $5,113 
Retiree medical and other postretirement benefits136 138 140 139 137 610 
Schedule of Allocation of Plan Assets The current strategic target asset allocation with the corresponding allowed range is as follows:
Asset Class/Sub-ClassTarget AllocationAllowed Range
Equity45%
10% - 80%
Public:
U.S.18%
5% - 40%
International developed markets9%
0% - 20%
Emerging markets3%
0% - 10%
Private equity15%
5% - 35%
Fixed income55%
15% - 90%
Public U.S. fixed income45%
15% - 70%
Private income10%
 0% - 20%
Other0%
0% - 5%
Cash equivalents0%
0% - 20%
Changes in Fair Value Measurements of Level 3 Investments
Changes in fair value measurements of Level 3 investments during the years ended December 31, 2025 and 2024, were as follows (in millions):
20252024
Balance at beginning of year$68 $84 
Actual gain (loss) on plan assets:
Relating to assets still held at the reporting date(8)(25)
Purchases
Sales(2)— 
Balance at end of year$63 $68 
American Airlines, Inc.  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets and Funded Status
The following tables provide a reconciliation of the changes in the pension and retiree medical and other postretirement benefits obligations, fair value of plan assets and funded status as of December 31, 2025 and 2024:
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 2025202420252024
 (In millions)
Benefit obligation at beginning of period$13,258 $14,314 $1,307 $1,325 
Service cost23 29 
Interest cost725 718 69 64 
Actuarial loss (gain) (1), (2)
169 (737)(11)(58)
Plan amendments (3)
— — — 54 
Benefit payments(914)(907)(130)(107)
Other— (132)— — 
Benefit obligation at end of period$13,240 $13,258 $1,258 $1,307 
Fair value of plan assets at beginning of period$12,175 $12,358 $128 $133 
Actual return on plan assets1,216 561 15 
Employer contributions (4)
225 295 105 93 
Benefit payments(914)(907)(130)(107)
Other— (132)— — 
Fair value of plan assets at end of period$12,702 $12,175 $118 $128 
Funded status at end of period$(538)$(1,083)$(1,140)$(1,179)
(1)The 2025 and 2024 pension actuarial loss (gain) primarily relates to the change in American’s weighted average discount rate assumption.
(2)The 2025 and 2024 retiree medical and other postretirement benefits actuarial gain primarily relates to changes in certain retirement assumptions, offset in part by increases in health care premiums and health care cost assumptions. Changes in American’s weighted average discount rate assumption also impacted the net actuarial gain in 2025 and 2024.
(3)In 2024, American remeasured its retiree medical and other postretirement benefits to account for enhanced retirement benefits pursuant to the ratification of new CBAs. As a result, American increased its postretirement benefits obligation by $54 million, which was included as a component of prior service cost in accumulated other comprehensive loss.
(4)In 2025 and 2024, American made required contributions of $221 million and $280 million, respectively, to its defined benefit pension plans.
Schedule of Amounts Recognized in Consolidated Balance Sheets
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 2025202420252024
 (In millions)
As of December 31:
Current liability$$$108 $142 
Noncurrent liability534 1,078 1,032 1,037 
Total liabilities$538 $1,083 $1,140 $1,179 
Schedule of Amounts Recognized in Other Comprehensive Income
Pension BenefitsRetiree Medical and 
Other Postretirement Benefits
2025202420252024
(In millions)
As of December 31:
Net actuarial loss (gain)$2,915 $3,130 $(395)$(407)
Prior service cost221 238 
Total accumulated other comprehensive loss (income), pre-tax
$2,916 $3,131 $(174)$(169)
Schedule of Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets
Plans with Projected Benefit Obligations Exceeding Fair Value of Plan Assets
 Pension Benefits
 20252024
 (In millions)
As of December 31:
Projected benefit obligation$8,807 $13,258 
Fair value of plan assets8,209 12,175 
Plans with Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 2025202420252024
 (In millions)
As of December 31:
Accumulated benefit obligation$8,801 $13,251 $— $— 
Accumulated postretirement benefit obligation
— — 1,258 1,307 
Fair value of plan assets8,209 12,175 118 128 
Components of Net Periodic Benefit Cost (Income)
 Pension BenefitsRetiree Medical and
  Other Postretirement Benefits  
 202520242023202520242023
 (In millions)
For the years ended December 31:
Defined benefit plans:
Service cost$$$$23 $29 $17 
Interest cost725 718 753 69 64 55 
Expected return on assets(923)(973)(914)(9)(10)(11)
Amortization of:
Prior service cost (benefit)— — 18 18 14 (6)
Unrecognized net loss (gain)91 105 106 (27)(31)(34)
Net periodic benefit cost (income)$(105)$(148)$(35)$74 $66 $21 
Schedule of Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost
The following actuarial assumptions were used to determine American’s benefit obligations and net periodic benefit cost (income) for the periods presented:
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 2025202420252024
Benefit obligations as of December 31:
Weighted average discount rate5.5%5.7%5.3%5.6%
 Pension BenefitsRetiree Medical and
Other Postretirement Benefits
 202520242023202520242023
Net periodic benefit cost (income) for the years ended December 31:
Weighted average discount rate5.7%5.2%5.6%5.6%5.3%5.7%
Weighted average expected rate of return on plan assets
7.75%8.0%8.0%7.75%8.0%8.0%
Weighted average health care cost trend rate assumed for next year (1)
N/AN/AN/A7.0%6.5%6.5%
(1)The weighted average health care cost trend rate at December 31, 2025 is assumed to decline gradually to 4.5% by 2036 and remain level thereafter.
Schedule of Expected Future Service Benefit Payments
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (approximately, in millions):
202620272028202920302031-2035
Pension benefits$979 $993 $1,006 $1,016 $1,023 $5,078 
Retiree medical and other postretirement benefits135 138 140 139 137 609 
Schedule of Allocation of Plan Assets The current strategic target asset allocation with the corresponding allowed range is as follows:
Asset Class/Sub-ClassTarget AllocationAllowed Range
Equity45%
10% - 80%
Public:
U.S.18%
5% - 40%
International developed markets9%
0% - 20%
Emerging markets3%
0% - 10%
Private equity15%
5% - 35%
Fixed income55%
15% - 90%
Public U.S. fixed income45%
15% - 70%
Private income10%
0% - 20%
Other0%
0% - 5%
Cash equivalents0%
0% - 20%
Changes in Fair Value Measurements of Level 3 Investments
Changes in fair value measurements of Level 3 investments during the years ended December 31, 2025 and 2024, were as follows (in millions):
20252024
Balance at beginning of year$68 $84 
Actual gain (loss) on plan assets:
Relating to assets still held at the reporting date(8)(25)
Purchases
Sales(2)— 
Balance at end of year$63 $68 
Pension Benefits  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Allocation of Plan Assets
The fair value of our pension plan assets at December 31, 2025 and 2024, by asset category, were as follows (in millions) (1):
 December 31, 2025December 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Equity (2)
$2,087 $— $— $2,087 $2,498 $— $— $2,498 
Fixed income (3)
476 5,390 — 5,866 439 3,723 — 4,162 
Other, net (4)
144 288 63 495 91 144 68 303 
Measured at NAV (5):
Common collective trusts (6)
— — — 273 — — — 1,153 
Private investments (7)
— — — 4,071 — — — 4,138 
Total plan assets$2,707 $5,678 $63 $12,792 $3,028 $3,867 $68 $12,254 
(1)See Note 7 for a description of the levels within the fair value hierarchy.
(2)Equity investments primarily include domestic and international common stock.
(3)Fixed income investments primarily include corporate and government bonds, as well as mutual funds invested in fixed income securities.
(4)Other primarily includes a short-term investment fund, net receivables and payables of the pension plan’s master trust for dividends, interest and amounts due to or from the sale and purchase of securities and cash and cash equivalents.
(5)Includes investments that were measured at NAV per share (or its equivalent) as a practical expedient that have not been classified in the fair value hierarchy.
(6)Common collective trusts include commingled funds primarily invested in equity securities.
(7)Private investments include limited partnerships that invest primarily in domestic private equity and private income opportunities. The pension plan’s master trust does not have the right to redeem its limited partnership investment at its NAV, but rather receives distributions as the underlying assets are liquidated. It is estimated that the underlying assets of these funds will be gradually liquidated over the next 10 years. As of December 31, 2025, the pension plan’s master trust has future funding commitments to these limited partnerships of approximately $1.0 billion, most of which are expected to be called over the next seven years.
Pension Benefits | American Airlines, Inc.  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Allocation of Plan Assets
The fair value of American’s pension plan assets at December 31, 2025 and 2024, by asset category, were as follows (in millions) (1):
December 31, 2025December 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Equity (2)
$2,083 $— $— $2,083 $2,498 $— $— $2,498 
Fixed income (3)
465 5,390 — 5,855 427 3,723 — 4,150 
Other, net (4)
144 288 63 495 91 144 68 303 
Measured at NAV (5):
Common collective trusts (6)
— — — 198 — — — 1,086 
Private investments (7)
— — — 4,071 — — — 4,138 
Total plan assets$2,692 $5,678 $63 $12,702 $3,016 $3,867 $68 $12,175 
(1)See Note 6 for a description of the levels within the fair value hierarchy.
(2)Equity investments primarily include domestic and international common stock.
(3)Fixed income investments primarily include corporate and government bonds, as well as mutual funds invested in fixed income securities.
(4)Other primarily includes a short-term investment fund, net receivables and payables of the pension plan’s master trust for dividends, interest and amounts due to or from the sale and purchase of securities and cash and cash equivalents.
(5)Includes investments that were measured at NAV per share (or its equivalent) as a practical expedient that have not been classified in the fair value hierarchy.
(6)Common collective trusts include commingled funds primarily invested in equity securities.
(7)Private investments include limited partnerships that invest primarily in domestic private equity and private income opportunities. The pension plan’s master trust does not have the right to redeem its limited partnership investment at its NAV, but rather receives distributions as the underlying assets are liquidated. It is estimated that the underlying assets of these funds will be gradually liquidated over the next 10 years. As of December 31, 2025, the pension plan’s master trust has future funding commitments to these limited partnerships of approximately $1.0 billion, most of which are expected to be called over the next seven years.