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Special Items, Net (Tables)
 3 Months Ended
Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]  
Components of Special Items, Net in Condensed Consolidated Statements of Operations
Special items, net in the condensed consolidated statements of operations consisted of the following (in millions):
 Three Months Ended March 31,
 20222021
Fleet impairment (1)
$149 $— 
PSP Financial Assistance (2)
— (1,882)
Severance expenses (3)
— 168 
Mark-to-market adjustments on bankruptcy obligations, net— 6 
Other operating special items, net8 — 
Mainline operating special items, net157 (1,708)
PSP Financial Assistance (2)
— (244)
Fleet impairment (1)
— 27 
Severance expenses (3)
— 2 
Regional operating special items, net— (215)
Operating special items, net157 (1,923)
Debt refinancing, extinguishment and other, net2 26 
Mark-to-market adjustments on equity and other investments, net (4)
1 (49)
Nonoperating special items, net3 (23)
(1)Fleet impairment in the first quarter of 2022 included a non-cash impairment charge to write down the carrying value of our retired Airbus A330 fleet to the estimated fair value due to current market conditions for certain used aircraft. We retired our Airbus A330 fleet in 2020 as a result of the decline in demand for air travel due to the COVID-19 pandemic and these aircraft are classified as long-lived nonoperating assets within other assets on the condensed consolidated balance sheets.
Fleet impairment in the first quarter of 2021 included a non-cash impairment charge to write down regional aircraft resulting from the retirement of the remaining Embraer 140 fleet earlier than planned.
(2)The PSP Financial Assistance represents recognition of a portion of the financial assistance received from the U.S. Department of Treasury (Treasury) pursuant to the payroll support program established under the PSP Extension Law (PSP2).
(3)Severance expenses include salary and medical costs primarily associated with certain team members who opted into voluntary early retirement programs offered as a result of reductions to our operation due to the COVID-19 pandemic. Cash payments primarily associated with our voluntary early retirement programs were approximately $90 million and $170 million for the first quarter of 2022 and 2021, respectively.
(4)Mark-to-market adjustments on equity and other investments, net principally included net unrealized gains and losses associated with our equity investment in China Southern Airlines Company Limited (China Southern Airlines) and in the first quarter of 2022, also included our equity investment in Vertical Aerospace Ltd. (Vertical)
American Airlines, Inc.  
Restructuring Cost and Reserve [Line Items]  
Components of Special Items, Net in Condensed Consolidated Statements of Operations
Special items, net in the condensed consolidated statements of operations consisted of the following (in millions):
 Three Months Ended March 31,
 20222021
Fleet impairment (1)
$149 $— 
PSP Financial Assistance (2)
— (1,882)
Severance expenses (3)
— 168 
Mark-to-market adjustments on bankruptcy obligations, net— 6 
Other operating special items, net 8 — 
Mainline operating special items, net157 (1,708)
PSP Financial Assistance (2)
— (244)
Fleet impairment (1)
— 27 
Regional operating special items, net— (217)
Operating special items, net157 (1,925)
Debt refinancing, extinguishment and other, net2 26 
Mark-to-market adjustments on equity and other investments, net (4)
1 (49)
Nonoperating special items, net3 (23)
(1)Fleet impairment in the first quarter of 2022 included a non-cash impairment charge to write down the carrying value of American's retired Airbus A330 fleet to the estimated fair value due to current market conditions for certain used aircraft. American retired its Airbus A330 fleet in 2020 as a result of the decline in demand for air travel due to the COVID-19 pandemic and these aircraft are classified as long-lived nonoperating assets within other assets on the condensed consolidated balance sheets.
Fleet impairment in the first quarter of 2021 included a non-cash impairment charge to write down regional aircraft resulting from the retirement of the remaining Embraer 140 fleet earlier than planned.
(2)The PSP Financial Assistance represents recognition of a portion of the financial assistance received from the U.S. Department of Treasury pursuant to the payroll support program established under the PSP Extension Law.
(3)Severance expenses include salary and medical costs primarily associated with certain team members who opted into voluntary early retirement programs offered as a result of reductions to American's operation due to the COVID-19 pandemic. Cash payments primarily associated with American's voluntary early retirement programs were approximately $90 million and $170 million for the first quarter of 2022 and 2021, respectively.
(4)Mark-to-market adjustments on equity and other investments, net principally included net unrealized gains and losses associated with American’s equity investment in China Southern Airlines Company Limited (China Southern Airlines) and in the first quarter of 2022, also included American's equity investment in Vertical Aerospace Ltd. (Vertical)