Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

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

	March 31, 2020								December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	3,442	$	3,442	$	—	$	—	$	2,762	$	2,762	$	—	$	—
Short-term investments:
Corporate debt	980		—		980		—		1,045		—		1,045		—
Asset-backed securities	610		—		610		—		690		—		690		—
U.S. government and agency notes	95		—		95		—		124		—		124		—
Certificates of deposit placed through an account registry service ("CDARS")	24		—		24		—		35		—		35		—
Other fixed-income securities	70		—		70		—		95		—		95		—
Other investments measured at net asset value ("NAV")	—		—		—		—		193		—		—		—
Restricted cash	106		106		—		—		106		106		—		—
Long-term investments:
Equity securities	92		92		—		—		385		385		—		—
AVH Derivative Assets	—		—		—		—		24		—		—		24
Other assets	16		—		—		16		—		—		—		—

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). Carrying amounts include any related discounts, premiums and issuance costs:

	March 31, 2020										December 31, 2019
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
Long-term debt	$	17,253	$	15,768	$	—	$	12,524	$	3,244	$	14,552	$	15,203	$	—	$	11,398	$	3,805