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Indebtedness (Tables)
12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
Components Of Long-Term Debt

Long-term debt classified as not subject to compromise consisted of (in millions):

 

    December 31,
2012
    December 31,
2011
 

Secured variable and fixed rate indebtedness due through 2023 (effective rates from 1.00%—13.00% at December 31, 2012)

  $         3,297      $         2,952   

Enhanced equipment trust certificates due through 2021 (rates from 5.10%—10.375% at December 31, 2012)

    1,741        1,942   

6.00%—8.50% special facility revenue bonds due through 2036

    1,313        1,436   

7.50% senior secured notes due 2016

    1,000        1,000   

AAdvantage Miles advance purchase (net of discount of $53 million) (effective rate 8.3%)

    772        890   

6.25% senior convertible notes due 2014

    —          —     

9.0%—10.20% debentures due through 2021

    —          —     

7.88%—10.55% notes due through 2039

    —          —     
 

 

 

   

 

 

 
    8,123        8,220   

Less current maturities

    1,388        1,518   
 

 

 

   

 

 

 

Long-term debt, less current maturities

  $ 6,735      $ 6,702   
 

 

 

   

 

 

 
Schedule Of Maturities Of Long-Term Debt Payments

As of December 31, 2012, maturities of long-term debt (including sinking fund requirements) for the next five years are:

 

Years Ending December 31

(in millions)

 

Principal Not Subject

to Compromise

 

Principal Subject

to Compromise

 

Total Principal

Amount

2013

  $                1,388   $                177   $                1,565

2014

  857   612   1,469

2015

  758   6   764

2016

  1,751   66   1,817

2017

  492   42   534
Schedule Of Collateral Coverage Tests

Specifically, American is required to meet certain collateral coverage tests on a periodic basis on two financing transactions: (1) 10.5% $450 million Senior Secured Notes due 2012 (the 10.5% Notes) and (2) Senior Secured Notes, as described below:

 

 

(1)

10.5% Notes

  

  

 

(2)

Senior Secured Notes

Frequency of

Appraisals

 

Semi-Annual

(April and October, ending April 2011)

  

  

 

Semi-Annual

(June and December)

LTV

Requirement

  43%; failure to meet collateral
test requires posting of additional
collateral
       1.5x Collateral valuation to
amount of debt outstanding
(67% LTV); failure to meet
collateral test results in
American paying 2% additional
interest until the ratio is at least
1.5x; additional collateral can be
posted to meet this requirement

LTV as of

Last

Measurement

Date

  47.5%          38.8%
      
  143 aircraft consisting of:     
  Type     
 
# of      
Aircraft        
  
  
  Generally, certain route authorities, take-off and landing slots, and rights to airport facilities used by American to operate certain services between the U.S. and London Heathrow, Tokyo Narita/Haneda, and China

Collateral

Description

 

MD-80

     74     
 

B757-200

     41     
 

B767-200ER

     3     
 

B767-300ER

     25     
 

TOTAL

     143