XML 44 R29.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are summarized below (in millions):



	Fair Value Measurements as of June 30, 2019
	Total		Level 1		Level 2		Level 3
Short-term investments ^{(1), (2)}:
Money market funds	$	23	$	23	$	—	$	—
Corporate obligations	1,737		—		1,737		—
Bank notes/certificates of deposit/time deposits	3,103		—		3,103		—
Repurchase agreements	225		—		225		—
	5,088		23		5,065		—
Restricted cash and short-term investments ⁽¹⁾	157		12		145		—
Long-term investments ⁽³⁾	214		214		—		—
Total	$	5,459	$	249	$	5,210	$	—


⁽¹⁾	Unrealized gains or losses on short-term investments are recorded in accumulated other comprehensive loss at each measurement date.


⁽²⁾	All short-term investments are classified as available-for-sale and stated at fair value. Our short-term investments mature in one year or less except for $1.2 billion of bank notes/certificates of deposit/time deposits and $197 million of corporate obligations.

⁽³⁾

Long-term investments primarily include our equity investment in China Southern Airlines and are classified in other assets on the condensed consolidated balance sheets.

Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities

The carrying value and estimated fair value of our long-term debt, including current maturities, were as follows (in millions):



	June 30, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current maturities	$	24,639	$	25,205	$	23,779	$	23,775

American Airlines, Inc. [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis are summarized below (in millions):



	Fair Value Measurements as of June 30, 2019
	Total		Level 1		Level 2		Level 3
Short-term investments ^(1), (2):
Money market funds	$	11	$	11	$	—	$	—
Corporate obligations	1,737		—		1,737		—
Bank notes/certificates of deposit/time deposits	3,102		—		3,102		—
Repurchase agreements	225		—		225		—
	5,075		11		5,064		—
Restricted cash and short-term investments ⁽¹⁾	157		12		145		—
Long-term investments ⁽³⁾	214		214		—		—
Total	$	5,446	$	237	$	5,209	$	—


⁽¹⁾	Unrealized gains or losses on short-term investments are recorded in accumulated other comprehensive loss at each measurement date.


⁽²⁾	All short-term investments are classified as available-for-sale and stated at fair value. American’s short-term investments mature in one year or less except for $1.2 billion of bank notes/certificates of deposit/time deposits and $197 million of corporate obligations.

⁽³⁾

Long-term investments primarily include American's equity investment in China Southern Airlines and are classified in other assets on the condensed consolidated balance sheets.

Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities

The carrying value and estimated fair value of American’s long-term debt, including current maturities, were as follows (in millions):



	June 30, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, including current maturities	$	22,621	$	23,147	$	22,503	$	22,497