Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

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):

	September 30, 2017								December 31, 2016
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	1,870	$	1,870	$	—	$	—	$	2,179	$	2,179	$	—	$	—
Short-term investments:
Corporate debt		959		—		959		—		835		—		835		—
Asset-backed securities		891		—		891		—		792		—		792		—
Certificates of deposit placed through an account registry service (“CDARS”)		142		—		142		—		246		—		246		—
U.S. government and agency notes		112		—		112		—		140		—		140		—
Other fixed-income securities		171		—		171		—		54		—		54		—
Other investments measured at NAV		183		—		—		—		182		—		—		—
Restricted cash		109		109		—		—		124		124		—		—
Long-term investments:
Equity securities		114		114		—		—		—		—		—		—
Enhanced equipment trust certificates (“EETC”)		21		—		—		21		23		—		—		23

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):

	Fair Value of Debt by Fair Value Hierarchy Level
	September 30, 2017										December 31, 2016
	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	$	12,850	$	13,217	$	—	$	9,640	$	3,577	$	10,767	$	11,055	$	—	$	8,184	$	2,871