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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule 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, 2024
| Total |  | Level 1 |  | Level 2 |  | Level 3
Short-term investments (1), (2): |  |  |  |  |  |  |
Money market funds | $ | 295 |  |  | $ | 295 |  |  | $ | — |  |  | $ | — |
Corporate obligations | 5,007 |  |  | — |  |  | 5,007 |  |  | — |
Bank notes/certificates of deposit/time deposits | 1,989 |  |  | — |  |  | 1,989 |  |  | — |
Repurchase agreements | 550 |  |  | — |  |  | 550 |  |  | — |
| 7,841 |  |  | 295 |  |  | 7,546 |  |  | — |
Restricted cash and short-term investments (1), (3) | 875 |  |  | 445 |  |  | 430 |  |  | — |
Long-term investments (4) | 113 |  |  | 113 |  |  | — |  |  | — |
Total | $ | 8,829 |  |  | $ | 853 |  |  | $ | 7,976 |  |  | $ | — |
(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. Restricted short-term investments mature in one year or less except for $199 million as of June 30, 2024. (4)Long-term investments include our equity investments in China Southern Airlines Company Limited (China Southern Airlines), Vertical Aerospace Ltd. (Vertical) and GOL Linhas Aéreas Inteligentes S.A. (GOL). 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, 2024 |  | December 31, 2023
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Long-term debt, including current maturities | $ | 31,191 |  |  | $ | 31,286 |  |  | $ | 32,396 |  |  | $ | 32,310 |
American Airlines, Inc. |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule 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, 2024
| Total |  | Level 1 |  | Level 2 |  | Level 3
Short-term investments (1), (2): |  |  |  |  |  |  |
Money market funds | $ | 293 |  |  | $ | 293 |  |  | $ | — |  |  | $ | — |
Corporate obligations | 5,007 |  |  | — |  |  | 5,007 |  |  | — |
Bank notes/certificates of deposit/time deposits | 1,987 |  |  | — |  |  | 1,987 |  |  | — |
Repurchase agreements | 550 |  |  | — |  |  | 550 |  |  | — |
| 7,837 |  |  | 293 |  |  | 7,544 |  |  | — |
Restricted cash and short-term investments (1), (3) | 875 |  |  | 445 |  |  | 430 |  |  | — |
Long-term investments (4) | 113 |  |  | 113 |  |  | — |  |  | — |
Total | $ | 8,825 |  |  | $ | 851 |  |  | $ | 7,974 |  |  | $ | — |
(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. Restricted short-term investments mature in one year or less except for $199 million as of June 30, 2024. (4)Long-term investments include American’s equity investments in China Southern Airlines Company Limited (China Southern Airlines), Vertical Aerospace Ltd. (Vertical) and GOL Linhas Aéreas Inteligentes S.A. (GOL). 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, 2024 |  | December 31, 2023
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Long-term debt, including current maturities | $ | 25,968 |  |  | $ | 26,059 |  |  | $ | 27,177 |  |  | $ | 27,008 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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