Investments And Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Text Block [Abstract]

Short-Term Investments

Short-term investments consisted of (in millions):

	December 31,
	2012		2011
Overnight investments, time deposits and Repurchase agreements	$	308	$	131
Corporate and bank notes		2,121		1,808
U. S. government agency mortgages		545		502
U.S. government agency notes				—
Commingled funds		435		1,274
Other		3		3
	$	3,412	$	3,718

Short-Term Investments By Contractual Maturity

Short-term investments at December 31, 2012, by contractual maturity included (in millions):

Due in one year or less	$	2,262
Due between one year and three years		605
Due after three years		545
	$	3,412

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 December 31, 2012
	Total		Level 1		Level 2		Level 3
Description
Short-term investments1,2
Money market funds	$	438	$	438	$	—	$	—
Government agency investments		545		—		545		—
Repurchase agreements		304		—		304		—
Corporate obligations		1,519				1,519		—
Bank notes / Certificates of deposit / Time deposits		606				606		—
		3,412		438		2,974		—
Restricted cash and short-term investments1		850		850		—		—
Fuel derivative contracts, net1		65		—		65		—
Total	$	4,327	$	1,288	$	3,039	$	—

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 $200 million of Bank notes/Certificates of deposit/Time deposits, $545 million of U.S. Government agency investments and $405 million of Corporate obligations which have maturity dates exceeding one year.