Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	2,404	$	2,404	$	—	$	—	$	1,482	$	1,482	$	—	$	—
Short-term investments:
Corporate debt		945		—		945		—		958		—		958		—
Asset-backed securities		606		—		606		—		753		—		753		—
U.S. government and agency notes		110		—		110		—		113		—		113		—
Certificates of deposit placed through an account registry service (“CDARS”)		53		—		53		—		120		—		120		—
Other fixed-income securities		172		—		172		—		188		—		188		—
Other investments measured at net asset value (“NAV”)		185		—		—		—		184		—		—		—
Restricted cash		106		106		—		—		109		109		—		—
Long-term investments:
Equity securities		144		144		—		—		99		99		—		—
Enhanced equipment trust certificates (“EETC”)		19		—		—		19		22		—		—		22

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
	March 31, 2018										December 31, 2017
	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	$	13,821	$	14,068	$	—	$	10,377	$	3,691	$	13,268	$	13,787	$	—	$	10,115	$	3,672