Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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):

	June 30, 2020								December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	6,505	$	6,505	$	—	$	—	$	2,762	$	2,762	$	—	$	—
Short-term investments:
Corporate debt	558		—		558		—		1,045		—		1,045		—
Asset-backed securities	309		—		309		—		690		—		690		—
U.S. government and agency notes	81		—		81		—		124		—		124		—
Certificates of deposit placed through an account registry service ("CDARS")	—		—		—		—		35		—		35		—
Other fixed-income securities	10		—		10		—		95		—		95		—
Other investments measured at net asset value ("NAV")	—		—		—		—		193		—		—		—
Restricted cash	107		107		—		—		106		106		—		—
Long-term investments:
Equity securities	101		101		—		—		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:

	June 30, 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	$	18,772	$	16,906	$	—	$	13,032	$	3,874	$	14,552	$	15,203	$	—	$	11,398	$	3,805