Chapter 11 Reorganization (Tables)

9 Months Ended

Sep. 30, 2013

Schedule Of Liabilities Subject To Compromise

The following table summarizes the components of liabilities subject to compromise included on the Condensed Consolidated Balance Sheet as of September 30, 2013 and December 31, 2012 (in millions):



	September 30, 2013			December 31, 2012
Long-term debt	$	1,130		$	1,198
Estimated allowed claims on aircraft lease and debt obligations and facility lease and bond obligations	4,151			3,716
Pension and postretirement benefits	1,201			1,250
Accounts payable and other accrued liabilities	419			442
Other	(12		)	—
Total liabilities subject to compromise	$	6,889		$	6,606

Schedule of Liabilities Subject to Compromise, Debt

Long-term debt, including undersecured debt, classified as subject to compromise as of September 30, 2013 and December 31, 2012 consisted of (in millions):



	September 30, 2013		December 31, 2012
Secured variable and fixed rate indebtedness due through 2023 (effective rates from 1.00% - 10.00% at September 30, 2013)	$	104	$	172
6.00%—8.50% special facility revenue bonds due through 2036	186		186
6.25% senior convertible notes due 2014	460		460
9.00%—10.20% debentures due through 2021	214		214
7.88%—10.55% notes due through 2039	166		166
	$	1,130	$	1,198

Schedule Of Reorganization Items

The following table summarizes the components included in reorganization items, net on the Consolidated Statements of Operations for the three and nine months ended September 30, 2013 and 2012 (in millions):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2013		2012			2013		2012
Pension and postretirement benefits	$	—	$	(66	)	$	—	$	(66	)
Aircraft and facility financing renegotiations and rejections^(1)(2)(3)	66		133			285		1,646
Professional fees	48		51			126		168
Other	37		19			24		19
Total reorganization items, net	$	151	$	137		$	435	$	1,767

(1)

Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to the rejection or modification of financings related to aircraft. The Debtors record an estimated claim associated with the rejection or modification of a financing when the applicable motion is filed with the Bankruptcy Court to reject or modify such financing and the Debtors believe that it is probable the motion will be approved, and there is sufficient information to estimate the claim. See above, “Special Protection Applicable to Leases and Secured Financing of Aircraft and Aircraft Equipment,” for further information.

(2)

Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors record an estimated claim associated with the treatment of claims with respect to facility agreements when the applicable motion is filed with the Bankruptcy Court and the Debtors believe that it is probable that the motion will be approved, and there is sufficient information to estimate the claim. See above, “Rejection of Executory Contracts,” for further information.

(3)

Pursuant to the Description of Plan of Reorganization, as defined and further described in Note 13 to the Condensed Consolidated Financial Statements, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the first nine months of 2013, the Company recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $170 million and allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at JFK, which is included in the table above.