XML 43 R29.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are summarized below (in millions):



	Fair Value Measurements as of June 30, 2020
	Total		Level 1		Level 2		Level 3
Short-term investments ^{(1), (2)}:
Money market funds	$	7,853	$	7,853	$	—	$	—
Bank notes/certificates of deposit/time deposits	1,131		—		1,131		—
Corporate obligations	367		—		367		—
	9,351		7,853		1,498		—
Restricted cash and short-term investments ^{(1), (4)}	539		390		149		—
Long-term investments ⁽³⁾	128		128		—		—
Total	$	10,018	$	8,371	$	1,647	$	—


⁽¹⁾	All short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are recorded in accumulated other comprehensive loss at each reporting period. There were no credit losses.


⁽²⁾	Our short-term investments mature in one year or less except for $484 million of bank notes/certificates of deposit/time deposits and $120 million of corporate obligations.


⁽³⁾	Long-term investments primarily include our equity investment in China Southern Airlines, in which we presently own a 1.8% equity interest, and are classified in other assets on the condensed consolidated balance sheet.

⁽⁴⁾

Restricted cash and short-term investments primarily includes money market funds to be used to finance a substantial portion of the cost of the renovation and expansion of Terminal 8 at JFK and collateral held to support workers' compensation obligations.

Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities

The carrying value and estimated fair value of our long-term debt, including current maturities, were as follows (in millions):



	June 30, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current maturities	$	30,664	$	26,081	$	23,645	$	24,508

American Airlines, Inc. [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are summarized below (in millions):



	Fair Value Measurements as of June 30, 2020
	Total		Level 1		Level 2		Level 3
Short-term investments ^(1), (2):
Money market funds	$	7,851	$	7,851	$	—	$	—
Bank notes/certificates of deposit/time deposits	1,131		—		1,131		—
Corporate obligations	367		—		367		—
	9,349		7,851		1,498		—
Restricted cash and short-term investments ^{(1), (4)}	539		390		149		—
Long-term investments ⁽³⁾	128		128		—		—
Total	$	10,016	$	8,369	$	1,647	$	—


⁽¹⁾	All short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are recorded in accumulated other comprehensive loss at each reporting period. There were no credit losses.


⁽²⁾	American’s short-term investments mature in one year or less except for $484 million of bank notes/certificates of deposit/time deposits and $120 million of corporate obligations.


⁽³⁾	Long-term investments primarily include American's equity investment in China Southern Airlines, in which American presently owns a 1.8% equity interest, and are classified in other assets on the condensed consolidated balance sheet.

⁽⁴⁾

Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities

The carrying value and estimated fair value of American’s long-term debt, including current maturities, were as follows (in millions):



	June 30, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current maturities	$	27,307	$	23,284	$	22,372	$	23,196