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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Schedule of derivative contracts, classification of related gains (losses) on consolidate statements of operations
The following table summarizes the risk each type of derivative contract is hedging and the classification of related gains and losses on our Consolidated Statements of Operations:
Derivative Type
 Hedged Risk
Classification of Gains and Losses
Fuel hedge contracts
Increases in jet fuel prices
Aircraft fuel and related taxes
Interest rate contracts
Increases in interest rates
Interest expense, net
Foreign currency exchange contracts
Fluctuations in foreign currency exchange rates
Passenger revenue

The following table summarizes the accounting treatment of our derivative contracts:
 
Impact of Unrealized Gains and Losses
Accounting Designation
Effective Portion
Ineffective Portion
Not designated as hedges
Change in fair value of hedge is recorded in earnings
Designated as cash flow hedges
Market adjustments are recorded in AOCI
Excess, if any, over effective portion of hedge is recorded in other expense
Designated as fair value hedges
Market adjustments are recorded in long-term debt and capital leases
Excess, if any, over effective portion of hedge is recorded in other expense
Summary of property and equipment
The following table summarizes our property and equipment:
 
 
December 31,
(in millions, except for estimated useful life)
Estimated Useful Life
2014
2013
Flight equipment
21-30 years
$
24,313

$
23,373

Ground property and equipment
3-40 years
5,198

4,596

Flight and ground equipment under capital leases
Shorter of lease term or estimated useful life
1,141

1,296

Advance payments for equipment
 
617

381

Less: accumulated depreciation and amortization(1)
 
(9,340
)
(7,792
)
Total property and equipment, net
 
$
21,929

$
21,854



(1) Includes accumulated amortization for flight and ground equipment under capital leases in the amount of $767 million and $657 million at December 31, 2014 and 2013, respectively.