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Special Charges and Mark-to-Market ("MTM") Adjustments | 6 Months Ended
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Jun. 30, 2019
Other Income and Expenses [Abstract] |
SPECIAL CHARGES AND MARK-TO-MARKET (MTM) ADJUSTMENTS | SPECIAL CHARGES AND MARK-TO-MARKET ("MTM") ADJUSTMENTS For the three and six months ended June 30, special charges and MTM adjustments consisted of the following (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
Operating: | 2019 |  | 2018 |  | 2019 |  | 2018
Impairment of assets | $ | 61 |  |  | $ | 111 |  |  | $ | 69 |  |  | $ | 134 |
Severance and benefit costs | 6 |  |  | 11 |  |  | 12 |  |  | 25 |
(Gains) losses on sale of assets and other special charges | 4 |  |  | 7 |  |  | 8 |  |  | 10 |
Total operating special charges | 71 |  |  | 129 |  |  | 89 |  |  | 169 |
Nonoperating MTM (gains) losses on financial instruments | (34 | ) |  | 135 |  |  | (51 | ) |  | 90 |
Total special charges and MTM (gains) losses on financial instruments | 37 |  |  | 264 |  |  | 38 |  |  | 259 |
Income tax benefit | (8 | ) |  | (59 | ) |  | (8 | ) |  | (58 | )
Total special charges and MTM (gains) losses on financial instruments, net of income tax | $ | 29 |  |  | $ | 205 |  |  | $ | 30 |  |  | $ | 201 |
2019 During the three months ended June 30, 2019, the Company recorded a $47 million impairment for aircraft engines removed from operations, a $6 million charge for the early termination of several regional aircraft finance leases and $8 million in other miscellaneous impairments. During the six months ended June 30, 2019, in addition to the charges described above, the Company recorded an $8 million f air value adjustment for aircraft purchased off lease. During the three and six months ended June 30, 2019, the Company recorded management severance of $6 million and $10 million, respectively. During the six months ended June 30, 2019, the Company recorded $2 million of severance and benefit costs related to a voluntary early-out program for its technicians and related employees represented by the International Brotherhood of Teamsters (the "IBT"). In the first quarter of 2017, approximately 1,000 technicians and related employees elected to voluntarily separate from the Company and received a severance payment, with a maximum value of $100,000 per participant, based on years of service, with retirement dates through early 2019. During the three and six months ended June 30, 2019, the Company recorded gains of $38 million and $52 million, respectively, for the change in market value of its investment in Azul. Also, during the three and six months ended June 30, 2019, the Company recorded losses of $4 million and $1 million, respectively, for the change in fair value of the AVH Derivative Assets. For equity investments and derivative assets subject to MTM accounting, the Company records gains and losses as part of Nonoperating income (expense): Miscellaneous, net in its statements of consolidated operations. 2018 In May 2018, the Brazil–United States open skies agreement was ratified, which provides air carriers with unrestricted access between the United States and Brazil. The Company determined that the approval of the open skies agreement impaired the entire value of its Brazil route authorities because the agreement removes all limitations or reciprocity requirements for flights between the United States and Brazil. Accordingly, the Company recorded a $105 million special charge to write off the entire value of the intangible asset associated with its Brazil routes. During the three and six months ended June 30, 2018, the Company recorded $6 million and $29 million, respectively, of fair value adjustments for aircraft purchased off lease and impairments related to certain fleet types and international slots no longer in use. During the three and six months ended June 30, 2018, the Company recorded $6 million and $14 million, respectively, of severance and benefit costs related to the early-out program described above and management severance of $5 million and $11 million, respectively. During the three and six months ended June 30, 2018, the Company recorded losses of $135 million and $90 million, respectively, for the change in market value of its investment in Azul.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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