Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

(in millions)	Fair Value Measurements as of June 30, 2013
Description	Total		Level 1		Level 2		Level 3
Short-term investments 1, 2
Money market funds	$	1,308	$	1,308	$	—	$	—
Government agency investments	1,476		—		1,476		—
Repurchase investments	222		—		222		—
Corporate obligations	2,017		—		2,017		—
Bank notes / Certificates of deposit / Time deposits	583		—		583		—
	5,606		1,308		4,298		—
Restricted cash and short-term investments 1	863		863		—		—
Fuel derivative contracts, net 1	5		—		5		—
Total	$	6,474	$	2,171	$	4,303	$	—

¹ Unrealized gains or losses on short-term investments, restricted cash and short-term investments and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date.

² The Company’s short-term investments mature in one year or less except for $350 million of Bank notes, $1.4 billion of U.S. Government obligations and $782 million of Corporate obligations which have maturity dates exceeding one year.

Components Of Long-Term Debt

The carrying value and estimated fair values of the Company’s long-term debt, including current maturities, not classified as subject to compromise, were (in millions):

	June 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured variable and fixed rate indebtedness	2,925		2,873		3,297		3,143
Enhanced equipment trust certificates	2,308		2,379		1,741		1,811
6.0%—8.5% special facility revenue bonds	1,314		1,454		1,313		1,308
7.50% senior secured notes	1,000		1,159		1,000		1,074
Senior secured credit facility due 2019 (rate of 4.75% at June 30, 2013)	1,045		1,050		—		—
AAdvantage Miles advance purchase	693		699		772		779
	$	9,285	$	9,614	$	8,123	$	8,115

The carrying value and estimated fair value of the Company’s long-term debt, including current maturities, classified as subject to compromise, were (in millions):

	June 30, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured variable and fixed rate indebtedness	149		$	130	$	172	$	154
6.0%—8.5% special facility revenue bonds	186		194		186		186
6.25% senior convertible notes	460		525		460		400
9.0%—10.20% debentures	214		238		214		112
7.88%—10.55% notes	166		50		166		33
	$	1,175	$	1,137	$	1,198	$	885