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Debt (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of debt
The following table summarizes our debt as of the dates noted in the table below:
MaturityInterest Rate(s) Per Annum atSeptember 30,December 31,
(in millions)DatesSeptember 30, 202020202019
Unsecured notes2020to20292.60%to7.38%$5,800 $5,550 
Unsecured CARES Act Payroll Support Program Loan20301.00%1,648 — 
Financing arrangements secured by SkyMiles assets:
SkyMiles Notes(1)
2023to20284.50%and4.75%6,000 — 
SkyMiles Term Loan(1)(2)
2023to20274.75%3,000 — 
Financing arrangements secured by slots, gates and/or routes:
2020 Senior Secured Notes20257.00%3,500 — 
2020 Term Loan(1)(2)
2020to20235.75%1,496 — 
2018 Revolving Credit Facility(2)
2021to20233.75%2,350 — 
2020 Secured Term Loan Facility(2)
20212.39%to2.41%2,950 — 
Financing arrangements secured by aircraft:
Certificates(1)
2020to20282.00%to8.02%2,686 1,669 
Notes(1)(2)
2020to20320.84%to5.75%1,068 1,193 
NYTDC Special Facilities Revenue Bonds, Series 2020(1)
2026to20454.00%to5.00%1,511 — 
NYTDC Special Facilities Revenue Bonds, Series 2018(1)
2022to20364.00%to5.00%1,383 1,383 
Other financings(1)(2)(3)
2020to20302.51%to8.75%241 196 
Other revolving credit facilities(2)
2021to20223.35%to3.75%267 — 
Total secured and unsecured debt33,900 9,991 
Unamortized (discount)/premium and debt issue cost, net and other(252)115 
Total debt33,648 10,106 
Less: current maturities(4,738)(2,054)
Total long-term debt$28,910 $8,052 
(1)Due in installments.
(2)Certain financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor) or another index rate, in each case plus a specified margin.
(3)Primarily includes unsecured bonds and debt secured by certain real estate.
Schedule of pass through certificates The proceeds of this issuance were used to repay unsecured notes that matured in the March 2020 quarter. In the June 2020 quarter, we issued an additional $135 million of Class B certificates. The amounts of all 2020-1 EETC issuances are included in Certificates in the table above. The details of the 2020-1 EETC issuances, which are secured by 33 aircraft, are shown in the table below:
(in millions)Total PrincipalFixed Interest RateIssuance DateFinal Maturity Date
2020-1 Class AA Certificates$796 2.00%March 2020June 2028
2020-1 Class A Certificates204 2.50%March 2020June 2028
2020-1 Class B Certificates135 8.00%April 2020June 2027
Total$1,135 
Schedule of estimated fair value of debt instruments The fair value of debt, shown below, is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Debt is primarily classified as Level 2 within the fair value hierarchy.    
(in millions)September 30,
2020		December 31,
2019
Net carrying amount$33,648 $10,106 
Fair value$33,900 $10,400