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v3.21.1

Fair Value Measurements - Measured on Recurring Basis (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Fuel derivatives: |  |  |
Derivative Asset, Fair Value, Gross Asset |  | $ 255,000,000 | $ 134,000,000
Fuel derivatives: |  |  |
Derivative Liability, Fair Value, Gross Liability |  | 0 | (6,000,000)
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) |  |  |
Assets |  |  |
Treasury bills |  | 1,800,000,000 | 1,800,000,000
Interest rate derivatives (see Note 4) |  | 0 |
Fuel derivatives: |  |  |
Other available for sale securities |  | 240,000,000 | 259,000,000
Total assets |  | 13,640,000,000 | 12,722,000,000
Liabilities |  |  |
Interest rate derivatives (see Note 4) |  |  | 0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) |  |  |
Assets |  |  |
Treasury bills |  | 0 | 0
Interest rate derivatives (see Note 4) |  | 6,000,000 |
Fuel derivatives: |  |  |
Other available for sale securities |  | 0 | 0
Total assets |  | 954,000,000 | 871,000,000
Liabilities |  |  |
Interest rate derivatives (see Note 4) |  |  | (6,000,000)
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) |  |  |
Assets |  |  |
Treasury bills |  | 0 | 0
Interest rate derivatives (see Note 4) |  | 0 |
Fuel derivatives: |  |  |
Other available for sale securities |  | 0 | 0
Total assets |  | 249,000,000 | 134,000,000
Liabilities |  |  |
Interest rate derivatives (see Note 4) |  |  | 0
Options Held | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) |  |  |
Fuel derivatives: |  |  |
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 0
Options Held | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) |  |  |
Fuel derivatives: |  |  |
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 0
Options Held | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) |  |  |
Fuel derivatives: |  |  |
Derivative Asset, Fair Value, Gross Asset | [1] | 249,000,000 | 134,000,000
Cash Equivalents | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) |  |  |
Assets |  |  |
Cash equivalents | [2] | 11,600,000,000 | 10,663,000,000
Cash Equivalents | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) |  |  |
Assets |  |  |
Cash equivalents | [2] | 0 | 0
Cash Equivalents | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) |  |  |
Assets |  |  |
Cash equivalents | [2] | 0 | 0
Commercial Paper | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) |  |  |
Assets |  |  |
Cash equivalents |  | 0 | 0
Commercial Paper | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) |  |  |
Assets |  |  |
Cash equivalents |  | 90,000,000 | 90,000,000
Commercial Paper | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) |  |  |
Assets |  |  |
Cash equivalents |  | 0 | 0
Certificates of Deposit | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) |  |  |
Assets |  |  |
Cash equivalents |  | 0 | 0
Investments |  | 0 | 0
Certificates of Deposit | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) |  |  |
Assets |  |  |
Cash equivalents |  | 6,000,000 | 10,000,000
Investments |  | 27,000,000 | 46,000,000
Certificates of Deposit | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) |  |  |
Assets |  |  |
Cash equivalents |  | 0 | 0
Investments |  | 0 | 0
Time Deposits | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) |  |  |
Assets |  |  |
Cash equivalents |  | 0 | 0
Investments |  | 0 | 0
Time Deposits | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) |  |  |
Assets |  |  |
Cash equivalents |  | 275,000,000 | 300,000,000
Investments |  | 550,000,000 | 425,000,000
Time Deposits | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) |  |  |
Assets |  |  |
Cash equivalents |  | 0 | 0
Investments |  | 0 | 0
Estimate of Fair Value Measurement | Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Treasury bills |  | 1,800,000,000 | 1,800,000,000
Interest rate derivatives (see Note 4) |  | 6,000,000 |
Fuel derivatives: |  |  |
Other available for sale securities |  | 240,000,000 | 259,000,000
Total assets |  | 14,843,000,000 | 13,727,000,000
Liabilities |  |  |
Interest rate derivatives (see Note 4) |  |  | (6,000,000)
Estimate of Fair Value Measurement | Options Held | Fair Value, Measurements, Recurring |  |  |
Fuel derivatives: |  |  |
Derivative Asset, Fair Value, Gross Asset | [1] | 249,000,000 | 134,000,000
Estimate of Fair Value Measurement | Cash Equivalents | Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Cash equivalents | [2] | 11,600,000,000 | 10,663,000,000
Estimate of Fair Value Measurement | Commercial Paper | Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Cash equivalents |  | 90,000,000 | 90,000,000
Estimate of Fair Value Measurement | Certificates of Deposit | Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Cash equivalents |  | 6,000,000 | 10,000,000
Investments |  | 27,000,000 | 46,000,000
Estimate of Fair Value Measurement | Time Deposits | Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Cash equivalents |  | 275,000,000 | 300,000,000
Investments |  | $ 550,000,000 | $ 425,000,000
[1] | In the unaudited Condensed Consolidated Balance Sheet amounts are presented as an asset. See Note 4.
[2] | Cash equivalents are primarily composed of money market investments.

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