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Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
The following table provides a reconciliation of the changes in the pension and retiree medical and other benefit obligations and fair value of assets for the years ended December 31, 2013 and 2012, and a statement of funded status as of December 31, 2013 and 2012 (in millions):
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
2013
 
2012
 
2013
 
2012
Reconciliation of benefit obligation:
 
 
 
 
 
 
 
 
Obligation at January 1
 
$
15,895

 
$
14,568

 
$
1,412

 
$
3,122

Service cost
 
3

 
341

 

 
46

Interest cost
 
654

 
729

 
50

 
128

Actuarial (gain) loss
 
(1,152
)
 
2,345

 
(82
)
 
104

Plan amendments
 

 
301

 

 
(1,904
)
Curtailments
 
2

 
(1,841
)
 

 
33

Settlements
 
(1
)
 

 

 

Benefit payments
 
(575
)
 
(548
)
 
(116
)
 
(117
)
US Airways plan liability (Assumed)
 
73

 

 
121

 

Obligation at December 31
 
$
14,899

 
$
15,895

 
$
1,385


$
1,412

Schedule of Changes in Fair Value of Plan Assets
Reconciliation of fair value of plan assets:
 
 
 
 
 
 
 
 
Fair value of plan assets at January 1
 
$
9,065

 
$
8,132

 
$
211

 
$
205

Actual return on plan assets
 
1,026

 
1,204

 
41

 
26

Employer contributions
 
494

 
277

 
103

 
97

Settlements
 
(1
)
 

 

 

Benefit payments
 
(575
)
 
(548
)
 
(116
)
 
(117
)
US Airways plan assets (Assumed)
 
48

 

 

 

Fair value of plan assets at December 31
 
$
10,057

 
$
9,065

 
$
239

 
$
211

Funded status at December 31
 
$
(4,842
)
 
$
(6,830
)
 
$
(1,146
)
 
$
(1,201
)
Schedule Of Amounts Recognized In Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets:
 
 
 
 
 
 
 
 
Current liability
 
$
31

 
$
21

 
$
129

 
$

Noncurrent liability
 
4,811

 
6,809

 
1,017

 
1,201

 
 
$
4,842

 
$
6,830

 
$
1,146

 
$
1,201

Schedule Of Amounts Recognized In Other Comprehensive Loss
Amounts recognized in other comprehensive loss:
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
 
$
2,395

 
$
3,943

 
$
(176
)
 
$
(78
)
Prior service cost (credit)
 
273

 
301

 
(1,592
)
 
(1,844
)
 
 
2,668

 
4,244

 
(1,768
)
 
(1,922
)
US Airways plan other comprehensive loss:
 

 

 
(12
)
 

 
 
$
2,668

 
$
4,244

 
$
(1,780
)
 
$
(1,922
)
Schedule Of Accumulated Benefit Obligations Exceeding Fair Value Of Plan Assets
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
 
2013
 
2012
 
2013
 
2012
 
 
(in millions)
For plans with accumulated benefit obligations exceeding the fair value of plan assets:
 
 
 
 
 
 
 
 
Projected benefit obligation (PBO)
 
$
14,869

 
$
15,895

 
$

 
$

Accumulated benefit obligation (ABO)
 
14,858

 
15,866

 

 

Accumulated postretirement benefit obligation (APBO)
 

 

 
1,385

 
1,412

Fair value of plan assets
 
10,024

 
9,065

 
239

 
211

ABO less fair value of plan assets
 
4,834

 
6,801

 

 

Schedule of Net Benefit Costs [Table Text Block]
The following tables provide the components of net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 (in millions):
 
 
Pension Benefits
 
Retiree Medical and Other Benefits
 
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
 
Defined benefit plans:
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
3

 
$
341

 
$
386

 
$

 
$
46

 
$
61

Interest cost
 
654

 
729

 
757

 
50

 
128

 
174

Expected return on assets
 
(720
)
 
(676
)
 
(657
)
 
(16
)
 
(17
)
 
(20
)
Curtailments
 
2

 
58

 

 

 
(124
)
 

Settlements
 
(1
)
 

 

 

 

 

Amortization of:
 
 
 
 
 
 
 
 
 
 
 
 
Prior service cost
 
28

 
10

 
13

 
(251
)
 
(82
)
 
(28
)
Unrecognized net loss (gain)
 
90

 
211

 
154

 
(9
)
 
(9
)
 
(9
)
Net periodic benefit cost for defined benefit plans
 
56

 
673

 
653

 
(226
)
 
(58
)
 
178

Defined contribution plans
 
328

 
218

 
179

 
N/A

 
N/A

 
N/A

 
 
$
384

 
$
891

 
$
832

 
$
(226
)
 
$
(58
)
 
$
178

Schedule Of Assumption Used
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
 
2013
 
2012
 
2013
 
2012
Weighted-average assumptions used to determine benefit obligations as of December 31:
 
 
 
 
 
 
 
 
Discount rate
 
5.10
%
 
4.20
%
 
4.71
%
 
3.80
%
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
 
2013
 
2012
 
2013
 
2012
Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:
 
 
 
 
 
 
 
 
Discount rate 1/1 - 9/30
 
4.20
%
 
5.20
%
 
3.80
%
 
4.89
%
Discount rate 10/1 - 12/31
 
4.20
%
 
4.10
%
 
3.80
%
 
3.80
%
Salary scale (ultimate) 1/1-9/30
 

 
3.78
%
 

 

Expected return on plan assets
 
8.00
%
 
8.25
%
 
8.00
%
 
8.25
%
Schedule of Allocation of Plan Assets [Table Text Block]
The current strategic target asset allocation is as follows:
Asset Class/Sub-Class
 
Allowed Range
Equity
 
62
%
-
72%
Public:
 
 
 
 
U.S. Value
 
20
%
-
35%
International Value
 
14
%
-
24%
Emerging Markets
 
5
%
-
11%
Alternative Investments
 
0
%
-
18%
Fixed Income
 
28
%
-
38%
U.S. Long Duration
 
26
%
-
36%
Emerging Markets
 
0
%
-
4%
Other
 
0
%
-
5%
Cash Equivalents
 
0
%
-
5%
Changes In Fair Value Measurements Of Level 3 Investments
Changes in fair value measurements of Level 3 investments during the year ended December 31, 2013, were as follows (in millions):
 
 
Private Equity Partnerships
 
Insurance Group Annuity Contracts
Beginning balance at December 31, 2012
 
$
914

 
$
2

Actual return on plan assets:
 
 
 
 
Relating to assets still held at the reporting date
 
(21
)
 
 
Relating to assets sold during the period
 
99

 
 
Purchases
 
85

 
 
Sales
 
(229
)
 
 
Ending balance at December 31, 2013
 
$
848

 
$
2

Changes in fair value measurements of Level 3 investments during the year ended December 31, 2012, were as follows (in millions):
 
 
Private Equity
Partnerships
 
Insurance Group
Annuity Contracts
Beginning balance at December 31, 2011
 
$
920

 
$
2

Actual return on plan assets:
 
 
 
 
Relating to assets still held at the reporting date
 
20

 
 
Relating to assets sold during the period
 
102

 
 
Purchases
 
96

 
 
Sales
 
(224
)
 
 
Ending balance at December 31, 2012
 
$
914

 
$
2

Schedule of Health Care Cost Trend Rates
 
 
2013
 
2012
Assumed health care trend rates at December 31
 
 
 
 
Health care cost trend rate assumed for next year
 
6.5
%
 
7.0
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
 
4.5
%
 
4.5
%
Year that the rate reaches the ultimate trend rate
 
2018

 
2018

Schedule Of One Percentage Point Change In Assumed Health Care Cost Trend Rates
A one percentage point change in the assumed health care cost trend rates would have the following effects (in millions):
 
 
1% Increase
 
1% Decrease
Impact on 2013 service and interest cost
 
$
3

 
$
(3
)
Impact on postretirement benefit obligation as of December 31, 2013
 
65

 
(64
)
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (in millions):
 
2014
 
2015
 
2016
 
2017
 
2018
 
2019-2023
Pension
$
642

 
$
642

 
$
667

 
$
697

 
$
731

 
$
4,252

Retiree Medical and Other
130

 
125

 
123

 
119

 
114

 
483

Pension Plans [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Allocation of Plan Assets [Table Text Block]
The fair value of the Company's pension plan assets at December 31, 2013 and 2012, by asset category, are as follows (in millions):
 
 
Fair Value Measurements at December 31, 2013
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Cash and cash equivalents
 
$
360

 
$

 
$

 
$
360

Equity securities:
 
 
 
 
 
 
 
 
International markets (a)(b)
 
2,908

 

 

 
2,908

Large-cap companies (b)
 
2,196

 

 

 
2,196

Mid-cap companies (b)
 
227

 

 

 
227

Small-cap companies(b)
 
18

 

 

 
18

Mutual funds - US Airways plan (g)
 
48

 

 

 
48

Fixed Income:
 
 
 
 
 
 
 
 
Corporate bonds (c)
 

 
2,067

 

 
2,067

Government securities (d)
 

 
1,035

 

 
1,035

U.S. municipal securities
 

 
55

 

 
55

Alternative investments:
 
 
 
 
 
 
 
 
Private equity partnerships (e)
 

 

 
848

 
848

Common/collective and 103-12 investment trusts (f)
 

 
245

 

 
245

Insurance group annuity contracts
 

 

 
2

 
2

Dividend and interest receivable
 
51

 

 

 
51

Due to/from brokers for sale of securities - net
 
(10
)
 

 

 
(10
)
Other assets – net
 
7

 

 

 
7

Total
 
$
5,805

 
$
3,402

 
$
850

 
$
10,057

a)
Holdings are diversified as follows: 19% United Kingdom, 10% Japan, 11% France, 7% Switzerland, 6% Germany, 5% Netherlands, 6% Republic of Korea, 15% emerging markets and the remaining 21% with no concentration greater than 5% in any one country.
b)
There are no significant concentrations of holdings by company or industry.
c)
Includes approximately 76% investments in corporate debt with a Standard and Poor's (S&P) rating lower than A and 24% investments in corporate debt with an S&P rating A or higher. Holdings include 80% U.S. companies, 17% international companies and 3% emerging market companies.
d)
Includes approximately 72% investments in U.S. domestic government securities and 28% in emerging market government securities. There are no significant foreign currency risks within this classification.
e)
Includes limited partnerships that invest primarily in U.S. (92%) and European (8%) buyout opportunities of a range of privately held companies. The Master Trust does not have the right to redeem its limited partnership investment at its net asset value. Instead, the Master Trust 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 one to ten years. Additionally, the Master Trust has future funding commitments of approximately $376 million over the next ten years.
f)
Investment includes 74% in an emerging market 103-12 investment trust with investments in emerging country equity securities, 14% in Canadian segregated balanced value, income growth and diversified pooled funds and 12% in a common/collective trust investing in securities of smaller companies located outside the U.S., including developing markets. Requests for withdrawals must meet specific requirements with advance notice of redemption preferred.
g)
Investment includes mutual funds invested 49% in equity securities of large-cap, mid-cap and small-cap US companies, 30% in US treasuries and corporate bonds and 21% in equity securities of international companies.
 
 
Fair Value Measurements at December 31, 2012
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Cash and cash equivalents
 
$
275

 
$

 
$

 
$
275

Equity securities
 
 
 
 
 
 
 
 
International markets (a)(b)
 
2,443

 

 

 
2,443

Large-cap companies (b)
 
1,601

 

 

 
1,601

Mid-cap companies (b)
 
216

 

 

 
216

Small-cap companies(b)
 
21

 

 

 
21

Fixed Income
 
 
 
 
 
 
 
 
Corporate bonds (c)
 

 
2,094

 

 
2,094

Government securities (d)
 

 
1,172

 

 
1,172

U.S. municipal securities
 

 
57

 

 
57

Alternative investments
 
 
 
 
 
 
 
 
Private equity partnerships (e)
 

 

 
914

 
914

Common/collective and 103-12 investment trusts (f)
 

 
229

 

 
229

Insurance group annuity contracts
 

 

 
2

 
2

Dividend and interest receivable
 
38

 

 

 
38

Due to/from brokers for sale of securities - net
 
1

 

 

 
1

Other assets – net
 
2

 

 

 
2

Total
 
$
4,597

 
$
3,552

 
$
916

 
$
9,065

a)
Holdings are diversified as follows: 20% United Kingdom, 9% Japan, 9% France, 8% Switzerland, 8% Germany, 5% Netherlands, 5% Republic of Korea, 15% emerging markets and the remaining 21% with no concentration greater than 5% in any one country.
b)
There are no significant concentrations of holdings by company or industry.
c)
Includes approximately 79% investments in corporate debt with a Standard and Poor's (S&P) rating lower than A and 21% investments in corporate debt with an S&P rating A or higher. Holdings include 81% U.S. companies, 16% international companies and 3% emerging market companies.
d)
Includes approximately 88% investments in U.S. domestic government securities and 12% in emerging market government securities. There are no significant foreign currency risks within this classification.
e)
Includes limited partnerships that invest primarily in U.S. (92%) and European (8%) buyout opportunities of a range of privately held companies. The Master Trust does not have the right to redeem its limited partnership investment at its net asset value. Instead, the Master Trust 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 one to ten years. Additionally, the Master Trust has future funding commitments of approximately $331 million over the next ten years.
f)
Investment includes 74% in an emerging market 103-12 investment trust with investments in emerging country equity securities, 14% in Canadian segregated balanced value, income growth and diversified pooled funds and 12% in a common/collective trust investing in securities of smaller companies located outside the U.S., including developing markets. Requests for withdrawals must meet specific requirements with advance notice of redemption preferred.
Other Postretirement Benefit Plans [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Allocation of Plan Assets [Table Text Block]
The fair value of the Company's other postretirement benefit plan assets at December 31, 2013 by asset category, were as follows (in millions):
 
 
Fair Value Measurements at December 31, 2013
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Money market fund
 
$
4

 
$

 
$

 
$
4

Mutual funds - AMR Class
 

 
235

 

 
235

Total
 
$
4

 
$
235

 
$

 
$
239

The fair value of the Company's other postretirement benefit plan assets at December 31, 2012 by asset category, were as follows (in millions):
 
 
Fair Value Measurements at December 31, 2012
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Money market fund
 
$
9

 
$

 
$

 
$
9

Mutual funds - AMR Class
 

 
202

 

 
202

Total
 
$
9

 
$
202

 
$

 
$
211

AA [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
The following table provides a reconciliation of the changes in the pension and retiree medical and other benefit obligations and fair value of assets for the years ended December 31, 2013 and 2012, and a statement of funded status as of December 31, 2013 and 2012 (in millions):
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
2013
 
2012
 
2013
 
2012
Reconciliation of benefit obligation:
 
 
 
 
 
 
 
 
Obligation at January 1
 
$
15,895

 
$
14,568

 
$
1,412

 
$
3,122

Service cost
 
3

 
341

 

 
46

Interest cost
 
654

 
729

 
50

 
128

Actuarial (gain) loss
 
(1,152
)
 
2,345

 
(82
)
 
104

Plan amendments
 

 
301

 

 
(1,904
)
Curtailments
 
2

 
(1,841
)
 

 
33

Settlements
 
(1
)
 

 

 

Benefit payments
 
(575
)
 
(548
)
 
(116
)
 
(117
)
Obligation at December 31
 
$
14,826

 
$
15,895

 
$
1,264

 
$
1,412

Schedule of Changes in Fair Value of Plan Assets
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
 
2013
 
2012
 
2013
 
2012
 
 
(in millions)
Reconciliation of fair value of plan assets:
 
 
 
 
 
 
 
 
Fair value of plan assets at January 1
 
$
9,065

 
$
8,132

 
$
211

 
$
205

Actual return on plan assets
 
1,026

 
1,204

 
41

 
26

Employer contributions
 
494

 
277

 
103

 
97

Settlements
 
(1
)
 

 

 

Benefit payments
 
(575
)
 
(548
)
 
(116
)
 
(117
)
Fair value of plan assets at December 31
 
$
10,009

 
$
9,065

 
$
239

 
$
211

Funded status at December 31
 
$
(4,817
)
 
$
(6,830
)
 
$
(1,025
)
 
$
(1,201
)
Schedule Of Amounts Recognized In Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets:
 
 
 
 
 
 
 
 
Current liability
 
$
31

 
$
21

 
$
118

 
$

Noncurrent liability
 
4,786

 
6,809

 
907

 
1,201

 
 
$
4,817

 
$
6,830

 
$
1,025

 
$
1,201

Schedule Of Amounts Recognized In Other Comprehensive Loss
Amounts recognized in other comprehensive loss:
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
 
$
2,395

 
$
3,943

 
$
(176
)
 
$
(78
)
Prior service cost (credit)
 
273

 
301

 
(1,592
)
 
(1,844
)
 
 
$
2,668

 
$
4,244

 
$
(1,768
)
 
$
(1,922
)
Schedule Of Accumulated Benefit Obligations Exceeding Fair Value Of Plan Assets
For plans with accumulated benefit obligations exceeding the fair value of plan assets:
 
 
 
 
Projected benefit obligation (PBO)
 
$
14,796

 
$
15,895

 
$

 
$

Accumulated benefit obligation (ABO)
 
14,788

 
15,866

 

 

Accumulated postretirement benefit obligation (APBO)
 

 

 
1,264

 
1,412

Fair value of plan assets
 
9,976

 
9,065

 
239

 
211

ABO less fair value of plan assets
 
4,812

 
6,801

 

 

Schedule of Net Benefit Costs [Table Text Block]
The following tables provide the components of net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 (in millions):
 
 
Pension Benefits
 
Retiree Medical  and Other Benefits
 
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
 
Defined benefit plans:
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
3

 
$
341

 
$
386

 
$

 
$
46

 
$
61

Interest cost
 
654

 
729

 
757

 
50

 
128

 
174

Expected return on assets
 
(720
)
 
(676
)
 
(657
)
 
(16
)
 
(17
)
 
(20
)
Curtailments
 
2

 
58

 

 

 
(124
)
 

Settlements
 
(1
)
 

 

 

 

 

Amortization of:
 
 
 
 
 
 
 
 
 
 
 
 
Prior service cost
 
28

 
10

 
13

 
(251
)
 
(82
)
 
(28
)
Unrecognized net loss (gain)
 
90

 
211

 
154

 
(9
)
 
(9
)
 
(9
)
Net periodic benefit cost for defined benefit plans
 
56

 
673

 
653

 
(226
)
 
(58
)
 
178

Defined contribution plans
 
303

 
202

 
162

 
N/A

 
N/A

 
N/A

 
 
$
359

 
$
875

 
$
815

 
$
(226
)
 
$
(58
)
 
$
178

Schedule Of Assumption Used
The estimated amount of unrecognized net gain for the retiree medical and other postretirement plans that will be amortized from Accumulated Other Comprehensive Income (Loss) into net periodic benefit cost over the next fiscal year is $8 million.
 
 
Pension Benefits
 
Retiree Medical and Other
Benefits
 
 
2013
 
2012
 
2013
 
2012
Weighted-average assumptions used to determine benefit obligations as of December 31:
 
 
 
 
 
 
 
 
Discount rate
 
5.10
%
 
4.20
%
 
4.71
%
 
3.80
%
Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:
 
 
 
 
 
 
 
 
Discount rate 1/1 - 9/30
 
4.20
%
 
5.20
%
 
3.80
%
 
4.89
%
Discount rate 10/1 - 12/31
 
4.20
%
 
4.10
%
 
3.80
%
 
3.80
%
Salary scale (ultimate) 1/1-9/30
 

 
3.78
%
 

 

Expected return on plan assets
 
8.00
%
 
8.25
%
 
8.00
%
 
8.25
%
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of American’s pension plan assets at December 31, 2013 and 2012, by asset category are as follows (in millions):
 
 
Fair Value Measurements at December 31, 2013
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable  Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Cash and cash equivalents
 
$
360

 
$

 
$

 
$
360

Equity securities:
 
 
 
 
 
 
 
 
International markets (a)(b)
 
2,908

 

 

 
2,908

Large-cap companies (b)
 
2,196

 

 

 
2,196

Mid-cap companies (b)
 
227

 

 

 
227

Small-cap companies(b)
 
18

 

 

 
18

Fixed Income:
 
 
 
 
 
 
 
 
Corporate bonds (c)
 

 
2,067

 

 
2,067

Government securities (d)
 

 
1,035

 

 
1,035

U.S. municipal securities
 

 
55

 

 
55

Alternative investments:
 
 
 
 
 
 
 
 
Private equity partnerships (e)
 

 

 
848

 
848

Common/collective and 103-12 investment trusts (f)
 

 
245

 

 
245

Insurance group annuity contracts
 

 

 
2

 
2

Dividend and interest receivable
 
51

 

 

 
51

Due to/from brokers for sale of securities - net
 
(10
)
 

 

 
(10
)
Other assets – net
 
7

 

 

 
7

Total
 
$
5,757

 
$
3,402

 
$
850

 
$
10,009

a)
Holdings are diversified as follows: 19% United Kingdom, 10% Japan, 11% France, 7% Switzerland, 6% Germany, 5% Netherlands, 6% Republic of Korea, 15% emerging markets and the remaining 21% with no concentration greater than 5% in any one country.
b)
There are no significant concentrations of holdings by company or industry.
c)
Includes approximately 76% investments in corporate debt with a Standard and Poor’s (S&P) rating lower than A and 24% investments in corporate debt with an S&P rating A or higher. Holdings include 80% U.S. companies, 17% international companies and 3% emerging market companies.
d)
Includes approximately 72% investments in U.S. domestic government securities and 28% in emerging market government securities. There are no significant foreign currency risks within this classification.
e)
Includes limited partnerships that invest primarily in U.S. (92%) and European (8%) buyout opportunities of a range of privately held companies. The Master Trust does not have the right to redeem its limited partnership investment at its net asset value. Instead, the Master Trust 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 one to ten years. Additionally, the Master Trust has future funding commitments of approximately $376 million over the next ten years.
f)
Investment includes 74% in an emerging market 103-12 investment trust with investments in emerging country equity securities, 14% in Canadian segregated balanced value, income growth and diversified pooled funds and 12% in a common/collective trust investing in securities of smaller companies located outside the U.S., including developing markets. Requests for withdrawals must meet specific requirements with advance notice of redemption preferred.
 
 
Fair Value Measurements at December 31, 2012
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable  Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Cash and cash equivalents
 
$
275

 
$

 
$

 
$
275

Equity securities
 
 
 
 
 
 
 
 
International markets (a)(b)
 
2,443

 

 

 
2,443

Large-cap companies (b)
 
1,601

 

 

 
1,601

Mid-cap companies (b)
 
216

 

 

 
216

Small-cap companies(b)
 
21

 

 

 
21

Fixed Income
 
 
 
 
 
 
 
 
Corporate bonds (c)
 

 
2,094

 

 
2,094

Government securities (d)
 

 
1,172

 

 
1,172

U.S. municipal securities
 

 
57

 

 
57

Alternative investments
 
 
 
 
 
 
 
 
Private equity partnerships (e)
 

 

 
914

 
914

Common/collective and 103-12 investment trusts (f)
 

 
229

 

 
229

Insurance group annuity contracts
 

 

 
2

 
2

Dividend and interest receivable
 
38

 

 

 
38

Due to/from brokers for sale of securities - net
 
1

 

 

 
1

Other assets – net
 
2

 

 

 
2

Total
 
$
4,597

 
$
3,552

 
$
916

 
$
9,065

a)
Holdings are diversified as follows: 20% United Kingdom, 9% Japan, 9% France, 8% Switzerland, 8% Germany, 5% Netherlands, 5% Republic of Korea, 15% emerging markets and the remaining 21% with no concentration greater than 5% in any one country.
b)
There are no significant concentrations of holdings by company or industry.
c)
Includes approximately 79% investments in corporate debt with a Standard and Poor’s (S&P) rating lower than A and 21% investments in corporate debt with an S&P rating A or higher. Holdings include 81% U.S. companies, 16% international companies and 3% emerging market companies.
d)
Includes approximately 88% investments in U.S. domestic government securities and 12% in emerging market government securities. There are no significant foreign currency risks within this classification.
e)
Includes limited partnerships that invest primarily in U.S. (92%) and European (8%) buyout opportunities of a range of privately held companies. The Master Trust does not have the right to redeem its limited partnership investment at its net asset value. Instead, the Master Trust 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 one to ten years. Additionally, the Master Trust has future funding commitments of approximately $331 million over the next ten years.
f)
Investment includes 74% in an emerging market 103-12 investment trust with investments in emerging country equity securities, 14% in Canadian segregated balanced value, income growth and diversified pooled funds and 12% in a common/collective trust investing in securities of smaller companies located outside the U.S., including developing markets. Requests for withdrawals must meet specific requirements with advance notice of redemption preferred.
The fair value of American’s other postretirement benefit plan assets at December 31, 2013 by asset category, were as follows (in millions):
 
 
Fair Value Measurements at December 31, 2013
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable  Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Money market fund
 
$
4

 
$

 
$

 
$
4

Mutual funds - AMR Class
 

 
235

 

 
235

Total
 
$
4

 
$
235

 
$

 
$
239

The fair value of American’s other postretirement benefit plan assets at December 31, 2012 by asset category, were as follows (in millions):
 
 
Fair Value Measurements at December 31, 2012
 
 
Quoted Prices in
Active Markets for
Identical Assets
 
Significant
Observable  Inputs
 
Significant
Unobservable
Inputs
 
 
Asset Category
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
Money market fund
 
$
9

 
$

 
$

 
$
9

Mutual funds - AMR Class
 

 
202

 

 
202

Total
 
$
9

 
$
202

 
$

 
$
211

The current strategic target asset allocation is as follows:
Asset Class/Sub-Class
 
Allowed Range
Equity
 
62
%
-
72%
Public:
 
 
 
 
U.S. Value
 
20
%
-
35%
International Value
 
14
%
-
24%
Emerging Markets
 
5
%
-
11%
Alternative Investments
 
0
%
-
18%
Fixed Income
 
28
%
-
38%
U.S. Long Duration
 
26
%
-
36%
Emerging Markets
 
0
%
-
4%
Other
 
0
%
-
5%
Cash Equivalents
 
0
%
-
5%
Changes In Fair Value Measurements Of Level 3 Investments
Changes in fair value measurements of Level 3 investments during the year ended December 31, 2013, were as follows (in millions):
 
 
Private Equity Partnerships
 
Insurance Group Annuity Contracts
Beginning balance at December 31, 2012
 
$
914

 
$
2

Actual return on plan assets:
 
 
 
 
Relating to assets still held at the reporting date
 
(21
)
 


Relating to assets sold during the period
 
99

 


Purchases
 
85

 

Sales
 
(229
)
 

Ending balance at December 31, 2013
 
$
848

 
$
2

Changes in fair value measurements of Level 3 investments during the year ended December 31, 2012, were as follows (in millions):
 
 
Private Equity
Partnerships
 
Insurance Group
Annuity Contracts
Beginning balance at December 31, 2011
 
$
920

 
$
2

Actual return on plan assets:
 
 
 
 
Relating to assets still held at the reporting date
 
20

 


Relating to assets sold during the period
 
102

 


Purchases
 
96

 

Sales
 
(224
)
 


Ending balance at December 31, 2012
 
$
914

 
$
2

Schedule of Health Care Cost Trend Rates
 
 
2013
 
2012
Assumed health care trend rates at December 31
 
 
 
 
Health care cost trend rate assumed for next year
 
6.5
%
 
7.0
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
 
4.5
%
 
4.5
%
Year that the rate reaches the ultimate trend rate
 
2018

 
2018

Schedule Of One Percentage Point Change In Assumed Health Care Cost Trend Rates
A one percentage point change in the assumed health care cost trend rates would have the following effects (in millions):
 
 
1% Increase
 
1% Decrease
Impact on 2013 service and interest cost
 
$
2

 
$
(2
)
Impact on postretirement benefit obligation as of December 31, 2013
 
50

 
(53
)
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (in millions):
 
2014
 
2015
 
2016
 
2017
 
2018
 
2019-2023
Pension
$
640

 
$
639

 
$
664

 
$
694

 
$
728

 
$
4,234

Retiree Medical and Other
119

 
116

 
114

 
110

 
104

 
443