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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2021
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 September 30, 2021
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$944 $944 $— $— 
Corporate obligations9,002 — 9,002 — 
Bank notes/certificates of deposit/time deposits3,182 — 3,182 — 
Repurchase agreements1,115 — 1,115 — 
14,243 944 13,299 — 
Restricted cash and short-term investments (1), (3)
923 688 235 — 
Long-term investments (4)
153 153 — — 
Total$15,319 $1,785 $13,534 $— 
(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.
(3)Restricted cash and short-term investments primarily include collateral associated with the payment of certain fees and interest in respect to the AAdvantage Financing and money market funds to be used to finance a substantial portion of the cost of the renovation and expansion of the Terminal at JFK as well as collateral held to support workers' compensation obligations.
(4)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.
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):
 September 30, 2021December 31, 2020
 
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Long-term debt, including current maturities$37,875 $39,233 $32,021 $30,454 
American Airlines, Inc.  
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 September 30, 2021
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$929 $929 $— $— 
Corporate obligations9,002 — 9,002 — 
Bank notes/certificates of deposit/time deposits3,181 — 3,181 — 
Repurchase agreements1,115 — 1,115 — 
14,227 929 13,298 — 
Restricted cash and short-term investments (1), (3)
923 688 235 — 
Long-term investments (4)
153 153 — — 
Total$15,303 $1,770 $13,533 $— 
(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.
(3)Restricted cash and short-term investments primarily include collateral associated with the payment of certain fees and interest in respect to the AAdvantage Financing and money market funds to be used to finance a substantial portion of the cost of the renovation and expansion of the Terminal at JFK as well as collateral held to support workers' compensation obligations.
(4)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.
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):
 September 30, 2021December 31, 2020
 Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Long-term debt, including current maturities$31,911 $33,778 $28,410 $27,193