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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2016
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
Fluctuations 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 non-operating 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 non-operating 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
2016
2015
Flight equipment
20-32 years
$
28,135

$
26,057

Ground property and equipment
3-40 years
6,581

5,862

Flight and ground equipment under capital leases
Shorter of lease term or estimated useful life
1,056

1,112

Advance payments for equipment
 
1,059

879

Less: accumulated depreciation and amortization(1)
 
(12,456
)
(10,871
)
Total property and equipment, net
 
$
24,375

$
23,039


(1) 
Includes accumulated amortization for flight and ground equipment under capital leases in the amount of $757 million and $782 million at December 31, 2016 and 2015, respectively.