XML 59 R37.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2023
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, 2023
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$2,586 $2,586 $— $— 
Corporate obligations4,183 — 4,183 — 
Bank notes/certificates of deposit/time deposits3,523 — 3,523 — 
U.S. government and agency obligations905 — 905 — 
Repurchase agreements250 — 250 — 
11,447 2,586 8,861 — 
Restricted cash and short-term investments (1), (3)
984 542 442 — 
Long-term investments (4)
235 235 — — 
Total$12,666 $3,363 $9,303 $— 
(1)All short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are recorded in accumulated other comprehensive loss at each reporting period. There were no credit losses.
(2)Our short-term investments mature in one year or less.
(3)Restricted cash and short-term investments primarily include collateral held to support workers’ compensation obligations and collateral associated with the payment of interest for the AAdvantage Financing.
(4)Long-term investments include our equity investments in China Southern Airlines Company Limited (China Southern Airlines), GOL Linhas Aéreas Inteligentes S.A. (GOL) and Vertical Aerospace Ltd. (Vertical). See Note 8 for further information on our equity investments.
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, 2023December 31, 2022
 
Carrying
Value
Fair
Value
Carrying
Value
Fair
Value
Long-term debt, including current maturities$34,057 $34,115 $34,903 $32,569 
American Airlines, Inc.  
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, 2023
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$2,585 $2,585 $— $— 
Corporate obligations4,183 — 4,183 — 
Bank notes/certificates of deposit/time deposits3,522 — 3,522 — 
U.S. government and agency obligations905 — 905 — 
Repurchase agreements250 — 250 — 
11,445 2,585 8,860 — 
Restricted cash and short-term investments (1), (3)
984 542 442 — 
Long-term investments (4)
235 235 — — 
Total$12,664 $3,362 $9,302 $— 
(1)All short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are recorded in accumulated other comprehensive loss at each reporting period. There were no credit losses.
(2)American’s short-term investments mature in one year or less.
(3)Restricted cash and short-term investments primarily include collateral held to support workers’ compensation obligations and collateral associated with the payment of interest for the AAdvantage Financing.
(4)Long-term investments include American’s equity investments in China Southern Airlines Company Limited (China Southern Airlines), GOL Linhas Aéreas Inteligentes S.A. (GOL) and Vertical Aerospace Ltd. (Vertical). See Note 7 for further information on American’s equity investments.
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, 2023December 31, 2022
 Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Long-term debt, including current maturities$28,834 $28,571 $29,679 $28,453