Fair Value Measurements and Other Investments (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017
	Total		Level 1		Level 2		Level 3
Short-term investments (1) (2):
Money market funds	$	170	$	170	$	—	$	—
Corporate obligations	2,320		—		2,320		—
Bank notes/certificates of deposit/time deposits	2,738		—		2,738		—
Repurchase agreements	200		—		200		—
	5,428		170		5,258		—
Restricted cash and short-term investments (1)	393		104		289		—
Total	$	5,821	$	274	$	5,547	$	—

⁽¹⁾  Unrealized gains or losses on short-term investments and restricted cash and short-term investments are recorded in accumulated other comprehensive loss at each measurement date.

⁽²⁾  All short-term investments are classified as available-for-sale and stated at fair value. Our short-term investments mature in one year or less except for $1.2 billion of bank notes/certificates of deposit/time deposits and $341 million of corporate 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):

	September 30, 2017				December 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current maturities	$	24,684	$	25,681	$	24,344	$	24,983

American Airlines, Inc. [Member]

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, 2017
	Total		Level 1		Level 2		Level 3
Short-term investments (1) (2):
Money market funds	$	169	$	169	$	—	$	—
Corporate obligations	2,320		—		2,320		—
Bank notes/certificates of deposit/time deposits	2,736		—		2,736		—
Repurchase agreements	200		—		200		—
	5,425		169		5,256		—
Restricted cash and short-term investments (1)	393		104		289		—
Total	$	5,818	$	273	$	5,545	$	—

⁽¹⁾  Unrealized gains or losses on short-term investments and restricted cash and short-term investments are recorded in accumulated other comprehensive loss at each measurement date.

⁽²⁾  All short-term investments are classified as available-for-sale and stated at fair value. American’s short-term investments mature in one year or less except for $1.2 billion of bank notes/certificates of deposit/time deposits and $341 million of corporate obligations.

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, 2017				December 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current maturities	$	22,912	$	23,839	$	22,577	$	23,181