Investments And Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Investments And Fair Value Measurements [Abstract]

Short-term investments consisted of (in millions):



	December 31,
	2012		2011
Overnight investments, time deposits and Repurchase agreements	$	308	$	131
Corporate and bank notes	2,121		1,808
U. S. government agency mortgages	545		502
U.S. government agency notes			—
Commingled funds	435		1,274
Other	3		3
	$	3,412	$	3,718

Short-Term Investments By Contractual Maturity

Short-term investments at December 31, 2012, by contractual maturity included (in millions):



Due in one year or less	$	2,262
Due between one year and three years	605
Due after three years	545

	$	3,412

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 December 31, 2012
Description	Total		Level 1		Level 2		Level 3
Short-term investments ^{1, 2}
Money market funds	$	438	$	438	$	—	$	—
Government agency investments	545		—		545		—
Repurchase agreements	304		—		304		—
Corporate obligations	1,519				1,519		—
Bank notes / Certificates of deposit / Time deposits	606				606		—
	3,412		438		2,974		—
Restricted cash and short-term investments ¹	850		850		—		—
Fuel derivative contracts, net ¹	65		—		65		—
Total	$	4,327	$	1,288	$	3,039	$	—

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 $200 million of Bank notes/Certificates of deposit/Time deposits, $545 million of U.S. Government agency investments and $405 million of Corporate obligations which have maturity dates exceeding one year.