Segments (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of segment reporting information

Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis.

(in millions)	Airline		Refinery		Intersegment Sales/Other			Consolidated
Three Months Ended September 30, 2020
Operating revenue:	$	2,645	$	669				$	3,062
Sales to airline segment					$	—	(1)
Exchanged products					(249)		(2)
Sales of refined products					(3)		(3)
Operating loss	(6,358)		(28)		—			(6,386)
Interest expense, net	288		3		—			291
Depreciation and amortization	545		25		(25)		(4)	545
Restructuring charges	5,345		—		—			5,345
Total assets, end of period	77,558		1,518		—			79,076
Capital expenditures	130		3		—			133
Three Months Ended September 30, 2019
Operating revenue:	$	12,554	$	1,505				$	12,560
Sales to airline segment					$	(304)	(1)
Exchanged products					(1,143)		(2)
Sales of refined products					(52)		(3)
Operating income	2,022		49		—			2,071
Interest expense, net	70		—		—			70
Depreciation and amortization	631		26		(26)		(4)	631
Total assets, end of period	61,515		1,704		—			63,219
Capital expenditures	936		10		—			946

⁽¹⁾Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery.

⁽²⁾Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.

⁽³⁾These sales were at or near cost; accordingly, the margin on these sales is de minimis.

⁽⁴⁾Refinery segment operating results, including depreciation and amortization, are included within aircraft fuel and related taxes in our income statement.

(in millions)	Airline		Refinery		Intersegment Sales/Other			Consolidated
Nine Months Ended September 30, 2020
Operating revenue:	$	12,413	$	2,366				$	13,122
Sales to airline segment					$	(214)	(1)
Exchanged products					(1,144)		(2)
Sales of refined products					(299)		(3)
Operating loss	(11,498)		(113)		—			(11,611)
Interest expense, net	564		—		—			564
Depreciation and amortization	1,813		74		(74)		(4)	1,813
Restructuring charges	7,798		—		—			7,798
Capital expenditures	1,336		15		—			1,351
Nine Months Ended September 30, 2019
Operating revenue:	$	35,474	$	4,289				$	35,568
Sales to airline segment					$	(882)	(1)
Exchanged products					(2,953)		(2)
Sales of refined products					(360)		(3)
Operating income	5,167		52		—			5,219
Interest expense (income), net	247		(19)		—			228
Depreciation and amortization	1,960		74		(74)		(4)	1,960
Capital expenditures	3,836		28		—			3,864

⁽¹⁾Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery.

⁽²⁾Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.

⁽³⁾These sales were at or near cost; accordingly, the margin on these sales is de minimis.

⁽⁴⁾Refinery segment operating results, including depreciation and amortization, are included within aircraft fuel and related taxes in our income statement.