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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring Basis | Fair values of financial instruments on the consolidated balance sheet (in millions):
September 30, 2017 | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |
Marketable securities |  |  |  |  |
U.S. government and agency securities | $ | 359 |  |  | $ | — |  |  | $ | 359 |
Foreign government bonds | — |  |  | 48 |  |  | 48 |
Asset-backed securities | — |  |  | 232 |  |  | 232 |
Mortgage-backed securities | — |  |  | 113 |  |  | 113 |
Corporate notes and bonds | — |  |  | 828 |  |  | 828 |
Municipal securities | — |  |  | 16 |  |  | 16 |
Total Marketable securities | 359 |  |  | 1,237 |  |  | 1,596 |
Derivative instruments |  |  |  |  |
Fuel hedge call options | — |  |  | 10 |  |  | 10 |
Interest rate swap agreements | — |  |  | 8 |  |  | 8 |
Total Assets | 359 |  |  | 1,255 |  |  | 1,614 |
Liabilities |  |  |  |  |
Derivative instruments |  |  |  |  |
Interest rate swap agreements | — |  |  | (11 | ) |  | (11 | )
Total Liabilities | — |  |  | (11 | ) |  | (11 | )
December 31, 2016 | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |
Marketable securities |  |  |  |  |
U.S. government and agency securities | $ | 287 |  |  | $ | — |  |  | $ | 287 |
Foreign government bonds | — |  |  | 36 |  |  | 36 |
Asset-backed securities | — |  |  | 138 |  |  | 138 |
Mortgage-backed securities | — |  |  | 89 |  |  | 89 |
Corporate notes and bonds | — |  |  | 691 |  |  | 691 |
Municipal securities | — |  |  | 11 |  |  | 11 |
Total Marketable securities | 287 |  |  | 965 |  |  | 1,252 |
Derivative instruments |  |  |  |  |
Fuel hedge call options | — |  |  | 20 |  |  | 20 |
Total Assets | 287 |  |  | 985 |  |  | 1,272 |
Liabilities |  |  |  |  |
Derivative instruments |  |  |  |  |
Interest rate swap agreements | — |  |  | (5 | ) |  | (5 | )
Total Liabilities | — |  |  | (5 | ) |  | (5 | )
Fair Value, Liabilities Measured on Recurring Basis | Fair values of financial instruments on the consolidated balance sheet (in millions):
September 30, 2017 | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |
Marketable securities |  |  |  |  |
U.S. government and agency securities | $ | 359 |  |  | $ | — |  |  | $ | 359 |
Foreign government bonds | — |  |  | 48 |  |  | 48 |
Asset-backed securities | — |  |  | 232 |  |  | 232 |
Mortgage-backed securities | — |  |  | 113 |  |  | 113 |
Corporate notes and bonds | — |  |  | 828 |  |  | 828 |
Municipal securities | — |  |  | 16 |  |  | 16 |
Total Marketable securities | 359 |  |  | 1,237 |  |  | 1,596 |
Derivative instruments |  |  |  |  |
Fuel hedge call options | — |  |  | 10 |  |  | 10 |
Interest rate swap agreements | — |  |  | 8 |  |  | 8 |
Total Assets | 359 |  |  | 1,255 |  |  | 1,614 |
Liabilities |  |  |  |  |
Derivative instruments |  |  |  |  |
Interest rate swap agreements | — |  |  | (11 | ) |  | (11 | )
Total Liabilities | — |  |  | (11 | ) |  | (11 | )
December 31, 2016 | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |
Marketable securities |  |  |  |  |
U.S. government and agency securities | $ | 287 |  |  | $ | — |  |  | $ | 287 |
Foreign government bonds | — |  |  | 36 |  |  | 36 |
Asset-backed securities | — |  |  | 138 |  |  | 138 |
Mortgage-backed securities | — |  |  | 89 |  |  | 89 |
Corporate notes and bonds | — |  |  | 691 |  |  | 691 |
Municipal securities | — |  |  | 11 |  |  | 11 |
Total Marketable securities | 287 |  |  | 965 |  |  | 1,252 |
Derivative instruments |  |  |  |  |
Fuel hedge call options | — |  |  | 20 |  |  | 20 |
Total Assets | 287 |  |  | 985 |  |  | 1,272 |
Liabilities |  |  |  |  |
Derivative instruments |  |  |  |  |
Interest rate swap agreements | — |  |  | (5 | ) |  | (5 | )
Total Liabilities | — |  |  | (5 | ) |  | (5 | )
Activity for Marketable Securities | Activity for marketable securities (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Proceeds from sales and maturities | $ | 528 |  |  | $ | 280 |  |  | $ | 1,069 |  |  | $ | 638 |
Investments Classified by Contractual Maturity Date | Maturities for marketable securities (in millions):
September 30, 2017 | Cost Basis |  | Fair Value
Due in one year or less | $ | 193 |  |  | $ | 193 |
Due after one year through five years | 1,367 |  |  | 1,367 |
Due after five years through 10 years | 36 |  |  | 36 |
Due after 10 years | — |  |  | — |
Total | $ | 1,596 |  |  | $ | 1,596 |
Fair Value, by Balance Sheet Grouping | Fixed-rate debt that is not carried at fair value on the consolidated balance sheet and the estimated fair value of long-term fixed-rate debt is as follows (in millions):
| September 30, 2017 |  | December 31, 2016
Carrying amount | $ | 1,024 |  |  | $ | 1,179 |
Fair value | 1,034 |  |  | 1,199 |

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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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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