Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2013
Description	Total		Level 1		Level 2		Level 3
Short-term investments (1)(2)
Money market funds	$	545	$	545	$	—	$	—
Government agency investments	1,136		—		1,136		—
Repurchase investments	205		—		205		—
Corporate obligations	3,448		—		3,448		—
Bank notes / Certificates of deposit / Time deposits	712		—		712		—
	6,046		545		5,501		—
Restricted cash and short-term investments (1)	935		879		56		—
Fuel derivative contracts, net (1)	58		—		58		—
Total	$	7,039	$	1,424	$	5,615	$	—

(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 $450 million of Bank notes, $635 million of U.S. Government obligations and $1.6 billion 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):

	September 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured variable and fixed rate indebtedness	$	2,625	$	2,570	$	3,297	$	3,143
Enhanced equipment trust certificates	2,747		2,725		1,741		1,811
6.0%—8.5% special facility revenue bonds	1,288		1,368		1,313		1,308
7.50% senior secured notes	1,000		1,190		1,000		1,074
Senior secured credit facility due 2019 (rate of 4.75% at September 30, 2013)	1,886		1,872		—		—
AAdvantage Miles advance purchase	652		658		772		779
	$	10,198	$	10,383	$	8,123	$	8,115

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):

	September 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured variable and fixed rate indebtedness	$	104	$	107	$	172	$	154
6.0%—8.5% special facility revenue bonds	186		176		186		186
6.25% senior convertible notes	460		485		460		400
9.0%—10.20% debentures	214		221		214		112
7.88%—10.55% notes	166		49		166		33
	$	1,130	$	1,038	$	1,198	$	885