Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents disclosures about the financial assets and financial liabilities measured at fair value on a recurring basis in the Company’s financial statements (in millions):

	June 30, 2015								December 31, 2014
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
	UAL
Cash and cash equivalents	$	2,796	$	2,796	$	—	$	—	$	2,002	$	2,002	$	—	$	—
Short-term investments:
Asset-backed securities		726		—		726		—		901		—		901		—
Corporate debt		868		—		868		—		876		—		876		—
Certificates of deposit placed through an account registry service (“CDARS”)		279		—		279		—		256		—		256		—
Auction rate securities		16		—		—		16		26		—		—		26
U.S. government and agency notes		45		—		45		—		68		—		68		—
Other fixed income securities		255		—		255		—		255		—		255		—
Enhanced equipment trust certificates (“EETC”)		27		—		—		27		28		—		—		28
Fuel derivatives liability, net		(361)		—		(361)		—		(717)		—		(717)		—
Foreign currency derivatives asset, net		6		—		6		—		2		—		2		—
Restricted cash		283		283		—		—		320		320		—		—
	United
Cash and cash equivalents	$	2,790	$	2,790	$	—	$	—	$	1,996	$	1,996	$	—	$	—
Short-term investments:
Asset-backed securities		726		—		726		—		901		—		901		—
Corporate debt		868		—		868		—		876		—		876		—
CDARS		279		—		279		—		256		—		256		—
Auction rate securities		16		—		—		16		26		—		—		26
U.S. government and agency notes		45		—		45		—		68		—		68		—
Other fixed income securities		255		—		255		—		255		—		255		—
EETC		27		—		—		27		28		—		—		28
Fuel derivatives liability, net		(361)		—		(361)		—		(717)		—		(717)		—
Foreign currency derivatives asset, net		6		—		6		—		2		—		2		—
Restricted cash		283		283		—		—		320		320		—		—
Convertible debt derivative asset		—		—		—		—		712		—		—		712
Convertible debt derivative option liability		—		—		—		—		(511)		—		—		(511)

Carrying Values and Estimated Fair Values of Financial Instruments

The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions):

	Fair Value of Debt by Fair Value Hierarchy Level
	June 30, 2015										December 31, 2014
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
UAL debt	$	10,985	$	11,388	$	—	$	8,573	$	2,815	$	11,434	$	12,386	$	—	$	8,568	$	3,818
United debt		10,985		11,388		—		8,573		2,815		11,433		12,386		—		8,568		3,818