Chapter 11 Reorganization (Tables)

9 Months Ended

Sep. 30, 2012

Schedule Of Liabilities Subject To Compromise

The following table summarizes the components of liabilities subject to compromise included on the Condensed Consolidated Balance Sheet as of September 30, 2012:



(in millions)

Long-term debt	$	2,267
Aircraft lease and facility bond related obligations	3,036
Pension and postretirement benefits	7,803
Accounts payable and other accrued liabilities	403
Other	(16		)
Total liabilities subject to compromise	$	13,493

Schedule of Liabilities Subject to Compromise, Debt [Table Text Block]

Long-term debt, including undersecured debt, classified as subject to compromise as of September 30, 2012 consisted of (in millions):



Secured variable and fixed rate indebtedness due through 2023 (effective rates from 1.00% - 13.00% at September 30, 2012)	1,241
6.00%—8.50% special facility revenue bonds due through 2036	186
6.25% senior convertible notes due 2014	460
9.0%—10.20% debentures due through 2021	214
7.88%—10.55% notes due through 2039	166
	$	2,267

Schedule Of Reorganization Items

The following table summarizes the components included in reorganization items, net on the Consolidated Statements of Operations for the three and nine months ended September 30, 2012:



(in millions)
	Three Months Ended			Nine Months Ended
	September 30, 2012
Pension and postretirement benefits	$	(66	)	$	(66	)
Aircraft financing renegotiations and rejections ⁽¹⁾	133			1,247
Treatment of facility bond related obligations ⁽²⁾	—			399
Professional fees	51			168
Other	19			19
Total reorganization items, net	137			1,767

(1)

Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to the rejection or modification of financings related to aircraft. The Debtors record an estimated claim associated with the rejection or modification of a financing when the motion is filed with the Bankruptcy Court to reject or modify such financing and the Debtors believe that it is probable the motion will be approved by all parties, and there is sufficient information to estimate the claim. See above, “Special Protection Applicable to Leases and Secured Financing of Aircraft and Aircraft Equipment,” for further information.

(2)

Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to entry of orders treating as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors record an estimated claim associated with the treatment of claims with respect to facility agreements when the applicable motion is filed with the Bankruptcy Court and the Debtors believe that it is probable that the motion will be approved, and there is sufficient information to estimate the claim. See above, “Rejection of Executory Contracts,” for further information.