Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 16, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'American Airlines Group Inc. | ' |
Entity Central Index Key | '0000006201 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 720,196,221 |
AA [Member] | ' | ' |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'AMERICAN AIRLINES INC | ' |
Entity Central Index Key | '0000004515 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 1,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | |||
In Millions, except Share data in Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Operating revenues | ' | ' | ||
Mainline passenger | $7,258 | $4,614 | ||
Regional passenger | 1,407 | 679 | ||
Cargo | 206 | 156 | ||
Other | 1,124 | 649 | ||
Total operating revenues | 9,995 | 6,098 | ||
Operating expenses | ' | ' | ||
Aircraft fuel and related taxes | 2,711 | 1,934 | ||
Salaries, wages and benefits | 2,119 | 1,267 | ||
Regional expenses | 1,594 | 780 | ||
Maintenance, materials and repairs | 485 | 326 | ||
Other rent and landing fees | 424 | 288 | ||
Aircraft rent | 320 | 165 | ||
Selling expenses | 401 | 290 | ||
Depreciation and amortization | 307 | 204 | ||
Special items, net | -137 | 71 | ||
Other | 1,041 | 702 | ||
Total operating expenses | 9,265 | 6,027 | ||
Operating income | 730 | 71 | ||
Nonoperating income (expense) | ' | ' | ||
Interest income | 7 | 4 | ||
Interest expense, net of capitalized interest | -243 | -254 | ||
Other, net | -1 | -24 | ||
Total nonoperating expense, net | -237 | -274 | ||
Income (loss) before reorganization items, net | 493 | -203 | ||
Reorganization items, net | 0 | [1] | -160 | [1] |
Income (loss) before income taxes | 493 | -363 | ||
Income tax provision (benefit) | 13 | -22 | ||
Net income (loss) | 480 | -341 | ||
Earnings (loss) per share | ' | ' | ||
Basic (usd per share) | $0.66 | ($1.37) | ||
Diluted (usd per share) | $0.65 | ($1.37) | ||
Weighted average shares outstanding (in thousands) | ' | ' | ||
Basic (in shares) | 723,971 | 249,491 | ||
Diluted (in shares) | 741,335 | 249,491 | ||
AA [Member] | ' | ' | ||
Operating revenues | ' | ' | ||
Mainline passenger | 4,906 | 4,614 | ||
Regional passenger | 669 | 679 | ||
Cargo | 168 | 156 | ||
Other | 726 | 636 | ||
Total operating revenues | 6,469 | 6,085 | ||
Operating expenses | ' | ' | ||
Aircraft fuel and related taxes | 1,871 | 1,934 | ||
Salaries, wages and benefits | 1,398 | 1,264 | ||
Regional expenses | 758 | 766 | ||
Maintenance, materials and repairs | 332 | 326 | ||
Other rent and landing fees | 285 | 287 | ||
Aircraft rent | 216 | 165 | ||
Selling expenses | 284 | 290 | ||
Depreciation and amortization | 214 | 204 | ||
Special items, net | -216 | 71 | ||
Other | 749 | 712 | ||
Total operating expenses | 5,891 | 6,019 | ||
Operating income | 578 | 66 | ||
Nonoperating income (expense) | ' | ' | ||
Interest income | 7 | 4 | ||
Interest expense, net of capitalized interest | -168 | -169 | ||
Other, net | -5 | -24 | ||
Total nonoperating expense, net | -166 | -189 | ||
Income (loss) before reorganization items, net | 412 | -123 | ||
Reorganization items, net | 0 | [2] | -160 | [2] |
Income (loss) before income taxes | 412 | -283 | ||
Income tax provision (benefit) | 11 | -30 | ||
Net income (loss) | $401 | ($253) | ||
[1] | In the 2013 first quarter, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | |||
[2] | In the 2013 first quarter, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income (loss) | $480 | ($341) |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | -45 | -33 |
Derivative financial instruments: | ' | ' |
Change in fair value | -67 | -15 |
Reclassification into earnings | 7 | -1 |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 2 | -1 |
Other comprehensive loss before tax | -103 | -50 |
Non-cash tax provision | 0 | 0 |
Comprehensive income (loss) | 377 | -391 |
AA [Member] | ' | ' |
Net income (loss) | 401 | -253 |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | -44 | -33 |
Derivative financial instruments: | ' | ' |
Change in fair value | -67 | -15 |
Reclassification into earnings | 7 | -1 |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 2 | -1 |
Other comprehensive loss before tax | -102 | -50 |
Non-cash tax provision | 0 | 0 |
Comprehensive income (loss) | $299 | ($303) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets | ' | ' |
Cash | $1,259 | $1,140 |
Short-term investments | 8,405 | 8,111 |
Restricted cash and short-term investments | 947 | 1,035 |
Accounts receivable, net | 2,008 | 1,560 |
Aircraft fuel, spare parts and supplies, net | 1,052 | 1,012 |
Prepaid expenses and other | 1,522 | 1,465 |
Total current assets | 15,193 | 14,323 |
Operating property and equipment | ' | ' |
Flight equipment | 24,687 | 23,730 |
Ground property and equipment | 5,663 | 5,585 |
Equipment purchase deposits | 1,045 | 1,077 |
Total property and equipment, at cost | 31,395 | 30,392 |
Less accumulated depreciation and amortization | -11,451 | -11,133 |
Total property and equipment, net | 19,944 | 19,259 |
Other assets | ' | ' |
Goodwill | 4,089 | 4,086 |
Intangibles, net of accumulated amortization | 2,319 | 2,311 |
Other assets | 2,192 | 2,299 |
Total other assets | 8,600 | 8,696 |
Total assets | 43,737 | 42,278 |
Current liabilities | ' | ' |
Current maturities of long-term debt and capital leases | 1,441 | 1,446 |
Accounts payable | 1,646 | 1,368 |
Accrued salaries and wages | 908 | 1,143 |
Air traffic liability | 5,686 | 4,380 |
Frequent flyer liability | 2,951 | 3,005 |
Payable to affiliates | 0 | 0 |
Accrued liabilities | 2,447 | 2,464 |
Total current liabilities | 15,079 | 13,806 |
Other Liabilities and Credits | ' | ' |
Long-term debt and capital leases, net of current maturities | 15,244 | 15,353 |
Pension and postretirement benefits | 5,766 | 5,828 |
Deferred gains and credits, net | 990 | 935 |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 2,322 | 5,928 |
Other liabilities | 3,241 | 3,159 |
Total noncurrent liabilities | 27,563 | 31,203 |
Commitments and contingencies | ' | ' |
Stockholders’ Equity (Deficit) | ' | ' |
Common stock | 6 | 5 |
Additional paid-in capital | 14,040 | 10,592 |
Accumulated other comprehensive loss | -2,135 | -2,032 |
Accumulated deficit | -10,816 | -11,296 |
Total stockholders' equity (deficit) | 1,095 | -2,731 |
Total Liabilities and Stockholders’ Equity (Deficit) | 43,737 | 42,278 |
AA [Member] | ' | ' |
Current assets | ' | ' |
Cash | 983 | 829 |
Short-term investments | 4,979 | 5,162 |
Restricted cash and short-term investments | 699 | 702 |
Accounts receivable, net | 1,521 | 1,186 |
Aircraft fuel, spare parts and supplies, net | 664 | 620 |
Prepaid expenses and other | 606 | 702 |
Total current assets | 9,452 | 9,201 |
Operating property and equipment | ' | ' |
Flight equipment | 19,182 | 18,534 |
Ground property and equipment | 5,057 | 5,002 |
Equipment purchase deposits | 829 | 847 |
Total property and equipment, at cost | 25,068 | 24,383 |
Less accumulated depreciation and amortization | -11,140 | -10,914 |
Total property and equipment, net | 13,928 | 13,469 |
Other assets | ' | ' |
Goodwill | 0 | 0 |
Intangibles, net of accumulated amortization | 844 | 812 |
Other assets | 2,016 | 2,130 |
Total other assets | 2,860 | 2,942 |
Total assets | 26,240 | 25,612 |
Current liabilities | ' | ' |
Current maturities of long-term debt and capital leases | 951 | 957 |
Accounts payable | 1,230 | 1,013 |
Accrued salaries and wages | 533 | 659 |
Air traffic liability | 3,808 | 3,145 |
Frequent flyer liability | 1,761 | 1,760 |
Payable to affiliates | 2,843 | 2,807 |
Accrued liabilities | 1,439 | 1,578 |
Total current liabilities | 12,565 | 11,919 |
Other Liabilities and Credits | ' | ' |
Long-term debt and capital leases, net of current maturities | 9,590 | 9,852 |
Pension and postretirement benefits | 5,631 | 5,693 |
Deferred gains and credits, net | 285 | 278 |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 2,242 | 5,424 |
Other liabilities | 2,168 | 2,106 |
Total noncurrent liabilities | 19,916 | 23,353 |
Stockholders’ Equity (Deficit) | ' | ' |
Common stock | 0 | 0 |
Additional paid-in capital | 8,481 | 5,361 |
Accumulated other comprehensive loss | -2,254 | -2,152 |
Accumulated deficit | -12,468 | -12,869 |
Total stockholders' equity (deficit) | -6,241 | -9,660 |
Total Liabilities and Stockholders’ Equity (Deficit) | $26,240 | $25,612 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Stockholders’ equity (deficit) | ' | ' |
Accumulated intangible amortization | ($399) | ($373) |
Common stock, par value (usd per share) | $0.01 | $0.01 |
Common stock, shares authorized (shares) | 1,750,000,000 | 1,750,000,000 |
Common stock, shares outstanding (shares) | 649,953,273 | 526,805,522 |
AA [Member] | ' | ' |
Stockholders’ equity (deficit) | ' | ' |
Accumulated intangible amortization | $378 | $375 |
Common stock, par value (usd per share) | $1 | $1 |
Common stock, shares authorized (shares) | 1,000 | 1,000 |
Common stock, shares issued (shares) | 1,000 | 1,000 |
Common stock, shares outstanding (shares) | 1,000 | 1,000 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net cash provided by operating activities | $1,256 | $700 |
Cash flows from investing activities: | ' | ' |
Capital expenditures and aircraft purchase deposits | -1,047 | -885 |
Increase in short-term investments | -294 | -226 |
Decrease (increase) in restricted cash and short-term investments | 88 | -3 |
Net proceeds from slot transaction | 307 | 0 |
Proceeds from sale of property and equipment | 3 | 26 |
Net cash used in investing activities | -943 | -1,088 |
Cash flows from financing activities: | ' | ' |
Payments on long-term debt and capital leases | -501 | -394 |
Proceeds from issuance of long-term debt | 224 | 161 |
Funds transferred to affiliates | 0 | ' |
Payments of employee withholding taxes on net share issuances | -84 | 0 |
Exercise of stock options | 9 | 0 |
Deferred financing costs | -7 | -17 |
Sale-leaseback transactions | 165 | 764 |
Net cash provided by (used in) financing activities | -194 | 514 |
Net increase in cash | 119 | 126 |
Cash at beginning of period | 1,140 | 480 |
Cash at end of period | 1,259 | 606 |
Non-cash investing and financing activities: | ' | ' |
Settlement of bankruptcy settlement obligation | 3,557 | 0 |
Supplemental information: | ' | ' |
Interest paid, net of amounts capitalized | 204 | 125 |
Income tax paid | 3 | 2 |
AA [Member] | ' | ' |
Net cash provided by operating activities | 742 | 696 |
Cash flows from investing activities: | ' | ' |
Capital expenditures and aircraft purchase deposits | -722 | -882 |
Increase in short-term investments | 183 | -228 |
Decrease (increase) in restricted cash and short-term investments | 3 | -3 |
Net proceeds from slot transaction | 299 | 0 |
Proceeds from sale of property and equipment | 3 | 26 |
Net cash used in investing activities | -234 | -1,087 |
Cash flows from financing activities: | ' | ' |
Payments on long-term debt and capital leases | -430 | -392 |
Proceeds from issuance of long-term debt | 0 | 161 |
Funds transferred to affiliates | -84 | 0 |
Payments of employee withholding taxes on net share issuances | 0 | ' |
Exercise of stock options | 0 | ' |
Deferred financing costs | -5 | -17 |
Sale-leaseback transactions | 165 | 764 |
Net cash provided by (used in) financing activities | -354 | 516 |
Net increase in cash | 154 | 125 |
Cash at beginning of period | 829 | 474 |
Cash at end of period | 983 | 599 |
Non-cash investing and financing activities: | ' | ' |
Settlement of bankruptcy settlement obligation | 3,104 | 0 |
Supplemental information: | ' | ' |
Interest paid, net of amounts capitalized | 170 | 125 |
Income tax paid | $2 | $1 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Line Items] | ' | ||||||||
Basis of Presentation | ' | ||||||||
Basis of Presentation | |||||||||
Basis of Presentation | |||||||||
On December 9, 2013 (the Effective Date), AMR Merger Sub, Inc. (Merger Sub) merged with and into US Airways Group, Inc. (US Airways Group) (the Merger), with US Airways Group surviving as a wholly-owned subsidiary of American Airlines Group Inc., a Delaware corporation (formerly known as AMR Corporation and referred to herein as AAG and, together with its consolidated subsidiaries, the Company), following the Merger. "AMR" refers to the Company during the period of time prior to its emergence from Chapter 11 and the Effective Date of the Merger. | |||||||||
The accompanying unaudited condensed consolidated financial statements of AAG should be read in conjunction with the consolidated financial statements contained in AAG's Annual Report on Form 10-K for the year ended December 31, 2013. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Principal subsidiaries include American and, effective December 9, 2013, US Airways Group. Because the Merger did not occur until December 2013, the unaudited condensed consolidated financial statements presented do not include the accounts of US Airways Group for the three months ended March 31, 2013. Certain prior period amounts have been reclassified to conform to the current year financial statement presentation as described below. All significant intercompany transactions have been eliminated. | |||||||||
Management believes that all adjustments necessary for the fair presentation of results, consisting of normally recurring items, have been included in the unaudited condensed consolidated financial statements for the interim periods presented. The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The most significant areas of judgment relate to passenger revenue recognition, impairment of goodwill, impairment of long-lived and intangible assets, the frequent traveler programs, pensions and retiree medical and other benefits and the deferred tax asset valuation allowance. | |||||||||
Chapter 11 Matters | |||||||||
In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Debtors (as defined in Note 2 below) applied ASC 852 "Reorganizations" (ASC 852) in preparing the condensed consolidated financial statements for periods subsequent to the Chapter 11 Cases (as defined in Note 2 below). ASC 852 requires that the financial statements distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred in the Chapter 11 Cases for the 2013 period are recorded in Reorganization items, net on the accompanying unaudited condensed consolidated statement of operations. | |||||||||
Reclassifications | |||||||||
Certain prior period amounts have been reclassified between various financial statement line items to conform to the current year financial statement presentation. These reclassifications do not impact the historic net loss and are comprised principally of the following items: | |||||||||
• | Reclassifications between various operating income line items to conform the presentation of Cargo and Other revenues. | ||||||||
• | Reclassifications between various operating expense line items to conform the presentation of Regional expenses. | ||||||||
• | Reclassifications between Other nonoperating income (expense), net and Operating expenses to conform the presentation of foreign currency gains and losses. | ||||||||
The following table summarizes the historical and revised financial statement amounts for AAG (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2013 | |||||||||
As Reclassified | Historical | ||||||||
Operating revenues: | |||||||||
Mainline passenger | $ | 4,614 | $ | 4,614 | |||||
Regional passenger | 679 | 679 | |||||||
Cargo | 156 | 155 | |||||||
Other | 649 | 650 | |||||||
Total operating revenues | 6,098 | 6,098 | |||||||
Operating expenses: | |||||||||
Aircraft fuel and related taxes | 1,934 | 2,200 | |||||||
Salaries, wages and benefits | 1,267 | 1,484 | |||||||
Regional expenses | 780 | — | |||||||
Maintenance, materials and repairs | 326 | 383 | |||||||
Other rent and landing fees | 288 | 346 | |||||||
Aircraft rent | 165 | 164 | |||||||
Selling expenses | 290 | 276 | |||||||
Depreciation and amortization | 204 | 246 | |||||||
Special items, net | 71 | 28 | |||||||
Other | 702 | 919 | |||||||
Total operating expenses | 6,027 | 6,046 | |||||||
Operating income | 71 | 52 | |||||||
Nonoperating income (expense): | |||||||||
Interest income | 4 | 4 | |||||||
Interest expense, net of capitalized interest | (254 | ) | (250 | ) | |||||
Other, net | (24 | ) | (9 | ) | |||||
Total nonoperating expense, net | $ | (274 | ) | $ | (255 | ) | |||
AA [Member] | ' | ||||||||
Accounting Policies [Line Items] | ' | ||||||||
Basis of Presentation | ' | ||||||||
Basis of Presentation | |||||||||
Basis of Presentation | |||||||||
The accompanying unaudited condensed consolidated financial statements of American should be read in conjunction with the consolidated financial statements contained in American's Annual Report on Form 10-K for the year ended December 31, 2013. American is a wholly-owned subsidiary of AAG. Certain prior period amounts have been reclassified to conform to the current year financial statement presentation as described below. All significant intercompany transactions have been eliminated. | |||||||||
Management believes that all adjustments necessary for the fair presentation of results, consisting of normally recurring items, have been included in the unaudited condensed consolidated financial statements for the interim periods presented. The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The most significant areas of judgment relate to passenger revenue recognition, impairment of long-lived and intangible assets, the frequent traveler program, pensions and retiree medical and other benefits and the deferred tax asset valuation allowance. | |||||||||
Chapter 11 Matters | |||||||||
In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Debtors (as defined in Note 2 below) applied ASC 852 "Reorganizations" (ASC 852) in preparing the condensed consolidated financial statements for periods subsequent to the Chapter 11 Cases (as defined in Note 2 below). ASC 852 requires that the financial statements distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred in the Chapter 11 Cases for the 2013 period are recorded in Reorganization items, net on the accompanying condensed consolidated statement of operations. | |||||||||
Reclassifications | |||||||||
Certain prior period amounts have been reclassified between various financial statement line items to conform to the current year financial statement presentation. These reclassifications do not impact the historic net loss and are comprised principally of the following items: | |||||||||
• | Reclassifications between various operating income line items to conform the presentation of Cargo and Other revenues. | ||||||||
• | Reclassifications between various operating expense line items to conform the presentation of Regional expenses. | ||||||||
• | Reclassifications between Other nonoperating income (expense), net and Operating expenses to conform the presentation of foreign currency gains and losses. | ||||||||
The following table summarizes the historical and revised financial statement amounts for American (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2013 | |||||||||
As Reclassified | Historical | ||||||||
Operating revenues: | |||||||||
Mainline passenger | $ | 4,614 | $ | 4,614 | |||||
Regional passenger | 679 | 679 | |||||||
Cargo | 156 | 155 | |||||||
Other | 636 | 637 | |||||||
Total operating revenues | 6,085 | 6,085 | |||||||
Operating expenses: | |||||||||
Aircraft fuel and related taxes | 1,934 | 2,199 | |||||||
Salaries, wages and benefits | 1,264 | 1,312 | |||||||
Regional expenses | 766 | 269 | |||||||
Maintenance, materials and repairs | 326 | 318 | |||||||
Other rent and landing fees | 287 | 342 | |||||||
Aircraft rent | 165 | 164 | |||||||
Selling expenses | 290 | 276 | |||||||
Depreciation and amortization | 204 | 241 | |||||||
Special items, net | 71 | 28 | |||||||
Other | 712 | 889 | |||||||
Total operating expenses | 6,019 | 6,038 | |||||||
Operating income | 66 | 47 | |||||||
Nonoperating income (expense): | |||||||||
Interest income | 4 | 4 | |||||||
Interest expense, net of capitalized interest | (169 | ) | (165 | ) | |||||
Other, net | (24 | ) | (9 | ) | |||||
Total nonoperating expense, net | $ | (189 | ) | $ | (170 | ) |
Emergence_From_Chapter_11_and_
Emergence From Chapter 11 and Merger with US Airways Group | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Reorganization [Line Items] | ' | ||||
Emergence From Chapter 11 and Merger with US Airways Group | ' | ||||
Emergence From Chapter 11 and Merger with US Airways Group | |||||
Overview | |||||
On November 29, 2011 (the Petition Date), AMR, its principal subsidiary, American Airlines, Inc. (American), and certain of the Company's other direct and indirect domestic subsidiaries (collectively, the Debtors), filed voluntary petitions for relief (the Chapter 11 Cases) under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court). On October 21, 2013, the Bankruptcy Court entered an order (the Confirmation Order) approving and confirming the Debtors' fourth amended joint plan of reorganization (as amended, the Plan). | |||||
On the Effective Date, the Debtors consummated their reorganization pursuant to the Plan, principally through the transactions contemplated by that certain Agreement and Plan of Merger (as amended, the Merger Agreement), dated as of February 13, 2013, by and among the Company, AMR Merger Sub and US Airways Group, pursuant to which Merger Sub merged with and into US Airways Group (the Merger), with US Airways Group surviving as a wholly-owned subsidiary of the Company following the Merger. Pursuant to the Merger Agreement, each share of common stock, par value $0.01 per share, of US Airways Group was converted into the right to receive one share of American Airlines Group common stock (AAG Common Stock), par value $0.01 per share. | |||||
From the Petition Date through the Effective Date, pursuant to automatic stay provisions under the Bankruptcy Code and orders granted by the Bankruptcy Court, all actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date as well as all pending litigation against the Debtors generally were stayed. Following the Effective Date, actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date generally have been permanently enjoined. Any unresolved claims will continue to be subject to the claims reconciliation process under the supervision of the Bankruptcy Court. However, certain pending litigation related to pre-petition liabilities may proceed in courts other than the Bankruptcy Court to the extent the parties to such litigation have obtained relief from the permanent injunction. | |||||
Plan of Reorganization | |||||
The Plan implements the Merger and incorporates a compromise and settlement of certain intercreditor and intercompany claim issues. | |||||
Pursuant to the Plan, all shares of AMR common stock outstanding prior to the Effective Date were canceled. AAG's Certificate of Incorporation, which was approved in connection with the Plan, authorizes the issuance of 1.75 billion new shares of AAG Common Stock, par value $0.01 per share, and 200 million shares of AAG Series A Preferred Stock, par value $0.01 per share. Of the authorized AAG Series A Preferred Stock, approximately 168 million were designated "Series A Convertible Preferred Stock," with a stated value $25.00 per share, and issued in accordance with the Plan. AAG Common Stock is listed on the NASDAQ Global Select Market under the symbol "AAL" and began trading on December 9, 2013. AAG Series A Preferred Stock was listed on the NASDAQ Global Select Market under the symbol "AALCP" from December 9, 2013 until its final mandatory conversion on April 8, 2014. In addition, pursuant to the Plan and the Merger Agreement, up to 40 million shares of AAG Common Stock were authorized for issuance under the 2013 Incentive Award Plan (the 2013 IAP). | |||||
The Plan contains the following provisions relating to the treatment of pre-petition claims against the Debtors and other holders of allowed interests in AMR: | |||||
• | all secured claims against the Debtors have been reinstated; | ||||
• | allowed administrative claims, priority claims and convenience claims have been or will be paid in full in cash; | ||||
• | other holders of allowed pre-petition unsecured claims, holders of allowed interests and certain employees of AMR received or will receive 72% of AAG Common Stock (on a fully converted basis) authorized to be issued pursuant to the Plan and in connection with the Merger under the following provisions: | ||||
◦ | all creditors holding general unsecured claims against American that are guaranteed by AAG and general unsecured claims against AAG that are guaranteed by American (Double-Dip Unsecured Claims) were treated the same under the Plan. Holders of Double-Dip Unsecured Claims received, at the Effective Date, their recovery in shares of AAG Series A Preferred Stock with a stated amount equal to the allowed amount of their claims, including post-petition interest at the non-default rate; | ||||
◦ | all creditors holding Single-Dip Unsecured Claims were treated the same regardless of whether the claim was asserted against the AAG Debtors, the American Debtors, or other Debtors. As used herein, "Single-Dip Unsecured Claims" means the general unsecured claims against the Debtors that are not guaranteed by any other Debtor, other than the claims of the Debtors' labor unions representing mainline workers. Holders of Single-Dip Unsecured Claims received, at the Effective Date, a portion of their recovery in shares of AAG Series A Preferred Stock and a right, subject to the trading price of the Company's common stock during the 120-day period after the Effective Date, to receive their remaining recovery in shares of AAG Common Stock 120 days after the Effective Date; | ||||
◦ | holders of certain labor-related deemed claims and certain non-management, non-union employees as specified in the Plan received, at the Effective Date, the right to receive an allocation of shares of AAG Common Stock representing 23.6% of the total number of shares of AAG Common Stock ultimately distributed to holders of pre-petition general unsecured creditors against the Debtors. On the Effective Date, pursuant to the Plan, an initial allocation of approximately 39 million shares of AAG Common Stock was made related to these labor and employee groups, of which approximately 27 million shares were distributed on the Effective Date and approximately 13 million shares of which were withheld in connection with the Company making a cash payment of approximately $300 million for certain required withholding taxes; | ||||
◦ | holders of allowed interests in AMR (primarily holders of AMR common stock existing immediately prior to the Effective Date) received, at the Effective Date, a distribution of approximately 26 million shares of AAG Common Stock representing 3.5% of the total number of shares of AAG Common Stock contemplated for issuance pursuant to the Plan and will receive additional shares of AAG Common Stock if, among other considerations, the trading price of the Company's common stock at various points during the 120-day period after the Effective Date provides for a full recovery to claimholders and other allowed priority interests; and | ||||
◦ | holders of disputed claims at the Effective Date, to the extent such disputed claims become allowed Single-Dip Unsecured Claims after the Effective Date, are eligible to receive shares of AAG Common Stock held in reserve (Disputed Claims Reserve), beginning 120 days after the Effective Date. Disputed claimholders that subsequently become Single-Dip unsecured claimholders will receive, subject to the availability of sufficient shares in the Disputed Claims Reserve, the number of shares of AAG Common Stock that the disputed claimholder would have received had such claimholder been a Single-Dip unsecured claimholder as of the Effective Date. | ||||
The Plan contemplated the distribution of up to 756 million shares of common stock, however this amount will be reduced by approximately 20 million shares because certain tax withholdings for employees were paid in cash as permitted under the Plan. In accordance with the Plan, the Company issued the remaining shares of AAG Common Stock over the 120-day distribution period, subject to a disputed claims reserve. In addition, pursuant to the Plan, approximately 197 million common shares were distributed to holders of outstanding shares of US Airways Group common stock. | |||||
Pursuant to rulings of the Bankruptcy Court, the Plan has established a disputed claims reserve to hold shares of AAG Series A Preferred Stock and AAG Common Stock reserved for issuance to disputed claimholders that ultimately become allowed Single-Dip general unsecured claimholders after emergence. The shares provided for under the Plan are determined based upon a disputed claims reserve amount of approximately $755 million, representing the maximum amount of additional allowable Single-Dip claims under the Plan's provisions. Approximately 16 million shares of AAG Series A Preferred Stock are reserved for distribution to holders of disputed Single-Dip general unsecured claims whose claims ultimately become allowed. Approximately 18 million of additional new shares of AAG Common Stock were distributed into the reserve on April 10, 2014. As disputed claims are resolved, the claimants will receive distributions of shares from the reserve on the same basis as if such distributions had been made on or about the Effective Date. To the extent that any of the reserved shares remain undistributed upon resolution of the remaining disputed claims, such shares will not be returned to the Company but rather will be distributed by priority first, if necessary, to satisfy unsecured claims or labor-related obligations, and then to former AMR shareholders as of the Effective Date. | |||||
AAG is not required to distribute additional shares above the limits contemplated by the Plan described above. | |||||
In addition, from the Effective Date through March 31, 2014, the Company made the following cash disbursements under the Plan: | |||||
• | $385 million in cash to the Pension plans in connection with missed contributions to the pension plans during Chapter 11 and interest and penalty interest thereon; | ||||
• | $107 million in cash to holders in partial or full satisfaction of their claims, including to holders of administrative claims, and state and local priority tax claims; | ||||
• | $196 million in cure payments to holders of secured debt; and | ||||
• | Approximately $380 million for payroll taxes associated with equity distributions to employees. | ||||
Several parties have filed appeals seeking reconsideration of the Confirmation Order. Refer to Note 14 for more information. | |||||
As noted above, the reconciliation process with respect to the remaining claims will take considerable time post-emergence. The Company's estimates of the amounts of disputed claims that will ultimately become allowed Single-Dip General Unsecured Claims are included in Mandatorily convertible preferred stock and other bankruptcy settlement obligations on the Company's condensed consolidated balance sheet as of March 31, 2014. As these claims are resolved, or where better information becomes available and is evaluated, AAG will make adjustments to the liabilities recorded on the Company's condensed consolidated financial statements as appropriate. Any such adjustments could be material to the Company's financial position or results of operations in any given period. | |||||
Availability and Utilization of Net Operating Losses | |||||
Upon emergence from bankruptcy, the Debtors experienced an "ownership change" as defined in Section 382 of the Internal Revenue Code which could potentially limit the ability to utilize certain tax attributes including the Debtors’ substantial net operating losses (NOLs). The general limitation rules for a debtor in a bankruptcy case are liberalized where the ownership change occurs upon emergence from bankruptcy. While the Debtors anticipate taking advantage of certain special rules for federal income tax purposes that would permit approximately $9.0 billion of the federal NOL Carryforwards to be utilized without regard to the annual limitation generally imposed by Section 382, there can be no assurance that these special rules will apply. | |||||
Moreover, an ownership change subsequent to the Debtors’ emergence from bankruptcy may further limit or effectively eliminate the ability to utilize the Debtors’ NOL Carryforwards and other tax attributes. To reduce the risk of a potential adverse effect on the Debtors’ ability to utilize the NOL Carryforwards, AAG's Certificate of Incorporation contains transfer restrictions applicable to certain substantial shareholders. Although the purpose of these transfer restrictions is to prevent an ownership change from occurring, there can be no assurance that an ownership change will not occur even with these transfer restrictions. A copy of AAG's Certificate of Incorporation was attached as Exhibit 3.1 to a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on December 9, 2013. | |||||
Reorganization Items, Net | |||||
Reorganization items refer to revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred in the Chapter 11 Cases. The following table summarizes the components included in reorganization items, net on the condensed consolidated statements of operations for the three months ended March 31, 2013 (in millions): | |||||
Aircraft and facility financing renegotiations and rejections (1), (2) | $ | 136 | |||
Professional fees | 39 | ||||
Other | (15 | ) | |||
Total reorganization items, net | $ | 160 | |||
(1) | Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to (i) the rejection or modification of financings related to aircraft and (ii) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the Bankruptcy Court to reject or modify such financing and the Debtors believed that it was probable the motion would be approved, and there was sufficient information to estimate the claim. | ||||
(2) | Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the three months ended March 31, 2013, the Company recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $127 million, which are included in the table above. | ||||
AA [Member] | ' | ||||
Reorganization [Line Items] | ' | ||||
Emergence From Chapter 11 and Merger with US Airways Group | ' | ||||
Emergence From Chapter 11 | |||||
Overview | |||||
On November 29, 2011 (the Petition Date), AMR, its principal subsidiary, American Airlines, Inc. (American), and certain of AMR's other direct and indirect domestic subsidiaries (collectively, the Debtors), filed voluntary petitions for relief (the Chapter 11 Cases) under Chapter 11 of the United States Bankruptcy Code (the Bankruptcy Code) in the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court). On October 21, 2013, the Bankruptcy Court entered an order (the Confirmation Order) approving and confirming the Debtors' fourth amended joint plan of reorganization (as amended, the Plan). | |||||
On December 9, 2013 (the Effective Date), the Debtors consummated their reorganization pursuant to the Plan, principally through the transactions contemplated by that certain Agreement and Plan of Merger (as amended, the Merger Agreement), dated as of February 13, 2013, by and among AAG, AMR Merger Sub, Inc. (Merger Sub) and US Airways Group, Inc. (US Airways Group), pursuant to which Merger Sub merged with and into US Airways Group (the Merger), with US Airways Group surviving as a wholly-owned subsidiary of AAG following the Merger. Pursuant to the Merger Agreement, each share of common stock, par value $0.01 per share, of US Airways Group was converted into the right to receive one share of American Airlines Group common stock (AAG Common Stock), par value $0.01 per share. | |||||
From the Petition Date through the Effective Date, pursuant to automatic stay provisions under the Bankruptcy Code and orders granted by the Bankruptcy Court, all actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date as well as all pending litigation against the Debtors generally were stayed. Following the Effective Date, actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date generally have been permanently enjoined. Any unresolved claims will continue to be subject to the claims reconciliation process under the supervision of the Bankruptcy Court. However, certain pending litigation related to pre-petition liabilities may proceed in courts other than the Bankruptcy Court to the extent the parties to such litigation have obtained relief from the permanent injunction. | |||||
Plan of Reorganization | |||||
The Plan implements the Merger and incorporates a compromise and settlement of certain intercreditor and intercompany claim issues. | |||||
Pursuant to the Plan, all shares of AMR common stock outstanding prior to the Effective Date were canceled. AAG's Certificate of Incorporation, which was approved in connection with the Plan, authorizes the issuance of 1.75 billion new shares of AAG Common Stock, par value $0.01 per share, and 200 million shares of AAG Series A Preferred Stock, par value $0.01 per share. Of the authorized AAG Series A Preferred Stock, approximately 168 million were designated "Series A Convertible Preferred Stock," with a stated value $25.00 per share, and issued in accordance with the Plan. AAG Common Stock is listed on the NASDAQ Global Select Market under the symbol "AAL" and began trading on December 9, 2013. AAG Series A Preferred Stock was listed on the NASDAQ Global Select Market under the symbol "AALCP" from December 9, 2013 until its final mandatory conversion on April 8, 2014. In addition, pursuant to the Plan and the Merger Agreement, up to 40 million shares of AAG Common Stock were authorized for issuance under the 2013 Incentive Award Plan (the 2013 IAP). | |||||
The Plan contains the following provisions relating to the treatment of pre-petition claims against the Debtors and other holders of allowed interests in the Debtors including AMR and American: | |||||
• | all secured claims against the Debtors have been reinstated; | ||||
• | allowed administrative claims, priority claims and convenience claims have been or will be paid in full in cash; | ||||
• | other holders of allowed pre-petition unsecured claims, holders of allowed interests and certain employees of AMR received or will receive 72% of AAG Common Stock (on a fully converted basis) authorized to be issued pursuant to the Plan and in connection with the Merger under the following provisions: | ||||
◦ | all creditors holding general unsecured claims against American that are guaranteed by AAG and general unsecured claims against AAG that are guaranteed by American (Double-Dip Unsecured Claims) were treated the same under the Plan. Holders of Double-Dip Unsecured Claims received, at the Effective Date, their recovery in shares of AAG Series A Preferred Stock with a stated amount equal to the allowed amount of their claims, including post-petition interest at the non-default rate; | ||||
◦ | all creditors holding Single-Dip Unsecured Claims were treated the same regardless of whether the claim was asserted against the AAG Debtors, the American Debtors, or other Debtors. As used herein, "Single-Dip Unsecured Claims" means the general unsecured claims against the Debtors that are not guaranteed by any other Debtor, other than the claims of the Debtors' labor unions representing mainline workers. Holders of Single-Dip Unsecured Claims received, at the Effective Date, a portion of their recovery in shares of AAG Series A Preferred Stock and a right, subject to the trading price of AAG's common stock during the 120-day period after the Effective Date, to receive their remaining recovery in shares of AAG Common Stock 120 days after the Effective Date; | ||||
◦ | holders of certain labor-related deemed claims and certain non-management, non-union employees as specified in the Plan received, at the Effective Date, the right to receive an allocation of shares of AAG Common Stock representing 23.6% of the total number of shares of AAG Common Stock ultimately distributed to holders of pre-petition general unsecured creditors against the Debtors. On the Effective Date, pursuant to the Plan, an initial allocation of approximately 39 million shares of AAG Common Stock was made related to these labor and employee groups, of which approximately 27 million shares were distributed on the Effective Date and approximately 13 million shares of which were withheld in connection with American making a cash payment of approximately $300 million for certain required withholding taxes; | ||||
◦ | holders of allowed interests in AMR (primarily holders of AMR common stock existing immediately prior to the Effective Date) received, at the Effective Date, a distribution of approximately 26 million shares of AAG Common Stock representing 3.5% of the total number of shares of AAG Common Stock contemplated for issuance pursuant to the Plan and will receive additional shares of AAG Common Stock if, among other considerations, the trading price of AAG's common stock at various points during the 120-day period after the Effective Date provides for a full recovery to claimholders and other allowed priority interests; and | ||||
◦ | holders of disputed claims at the Effective Date, to the extent such disputed claims become allowed Single-Dip Unsecured Claims after the Effective Date, are eligible to receive shares of AAG Common Stock held in reserve (Disputed Claims Reserve), beginning 120 days after the Effective Date. Disputed claimholders that subsequently become Single-Dip unsecured claimholders will receive, subject to the availability of sufficient shares in the Disputed Claims Reserve, the number of shares of AAG Common Stock that the disputed claimholder would have received had such claimholder been a Single-Dip unsecured claimholder as of the Effective Date. | ||||
The Plan contemplated the distribution of up to 756 million shares of common stock, however this amount will be reduced by approximately 20 million shares because certain tax withholdings for employees were paid in cash as permitted under the Plan. In accordance with the Plan, AAG issued the remaining shares of AAG Common Stock over the 120-day distribution period, subject to a disputed claims reserve. In addition, pursuant to the Plan, approximately 197 million common shares were distributed to holders of outstanding shares of US Airways Group common stock. | |||||
Pursuant to rulings of the Bankruptcy Court, the Plan has established a disputed claims reserve to hold shares of AAG Series A Preferred Stock and AAG Common Stock reserved for issuance to disputed claimholders that ultimately become allowed Single-Dip general unsecured claimholders after emergence. The shares provided for under the Plan are determined based upon a disputed claims reserve amount of approximately $755 million, representing the maximum amount of additional allowable Single-Dip claims under the Plan's provisions. Approximately 16 million shares of AAG Series A Preferred Stock are reserved for distribution to holders of disputed Single-Dip general unsecured claims whose claims ultimately become allowed. Approximately 18 million of additional new shares of AAG Common Stock were distributed into the reserve on April 10, 2014. As disputed claims are resolved, the claimants will receive distributions of shares from the reserve on the same basis as if such distributions had been made on or about the Effective Date. To the extent that any of the reserved shares remain undistributed upon resolution of the remaining disputed claims, such shares will not be returned to AAG but rather will be distributed by priority first, if necessary, to satisfy unsecured claims or labor-related obligations, and then to former AMR shareholders as of the Effective Date. | |||||
AAG is not required to distribute additional shares above the limits contemplated by the Plan described above. | |||||
In addition, from the Effective Date through March 31, 2014, American made the following cash disbursements under the Plan: | |||||
• | $385 million in cash to the Pension plans in connection with missed contributions to the pension plans during Chapter 11 and interest and penalty interest thereon; | ||||
• | $107 million in cash to holders in partial or full satisfaction of their claims, including to holders of administrative claims, and state and local priority tax claims; | ||||
• | $196 million in cure payments to holders of secured debt; and | ||||
• | Approximately $380 million for payroll taxes associated with equity distributions to employees. | ||||
Several parties have filed appeals seeking reconsideration of the Confirmation Order. Refer to Note 14 for more information. | |||||
As noted above, the reconciliation process with respect to the remaining claims will take considerable time post-emergence. American's estimates of the amounts of disputed claims that will ultimately become allowed Single-Dip General Unsecured Claims are included in Bankruptcy settlement obligations on American's condensed consolidated balance sheet as of March 31, 2014. As these claims are resolved, or where better information becomes available and is evaluated, American will make adjustments to the liabilities recorded in American's condensed consolidated financial statements as appropriate. Any such adjustments could be material to American's financial position or results of operations in any given period. | |||||
Availability and Utilization of Net Operating Losses | |||||
Upon emergence from bankruptcy, American experienced an "ownership change" as defined in Section 382 of the Internal Revenue Code which could potentially limit the ability to utilize certain tax attributes including American's substantial net operating losses (NOLs). The general limitation rules for a debtor in a bankruptcy case are liberalized where the ownership change occurs upon emergence from bankruptcy. While American anticipates taking advantage of certain special rules for federal income tax purposes that would permit approximately $9.5 billion of the federal NOL Carryforwards to be utilized without regard to the annual limitation generally imposed by Section 382, there can be no assurance that these special rules will apply. | |||||
Moreover, an ownership change subsequent to American's emergence from bankruptcy may further limit or effectively eliminate the ability to utilize American's NOL Carryforwards and other tax attributes. To reduce the risk of a potential adverse effect on American's ability to utilize the NOL Carryforwards, AAG's Certificate of Incorporation contains transfer restrictions applicable to certain substantial shareholders. Although the purpose of these transfer restrictions is to prevent an ownership change from occurring, there can be no assurance that an ownership change will not occur even with these transfer restrictions. A copy of AAG's Certificate of Incorporation was attached as Exhibit 3.1 to a Current Report on Form 8-K filed by AAG with the Securities and Exchange Commission on December 9, 2013. | |||||
Reorganization Items, Net | |||||
Reorganization items refer to revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred in the Chapter 11 Cases. The following table summarizes the components included in reorganization items, net on the condensed consolidated statements of operations for the three months ended March 31, 2013 (in millions): | |||||
Aircraft and facility financing renegotiations and rejections (1), (2) | $ | 136 | |||
Professional fees | 39 | ||||
Other | (15 | ) | |||
Total reorganization items, net | $ | 160 | |||
(1) | Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to (i) the rejection or modification of financings related to aircraft and (ii) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the Bankruptcy Court to reject or modify such financing and the Debtors believed that it was probable the motion would be approved, and there was sufficient information to estimate the claim. | ||||
(2) | Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the three months ended March 31, 2013, American recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $127 million, which are included in the table above. |
Mandatorily_Convertible_Prefer
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Class of Stock [Line Items] | ' | ||||||||
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations | ' | ||||||||
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations | |||||||||
The components of Mandatorily convertible preferred stock and other bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): | |||||||||
31-Mar-14 | 31-Dec-13 | ||||||||
AAG Series A Preferred Stock | $ | 589 | $ | 3,833 | |||||
Single-Dip equity obligations | 1,259 | 1,246 | |||||||
Labor-related deemed claim | 474 | 849 | |||||||
Total | $ | 2,322 | $ | 5,928 | |||||
The AAG Series A Preferred Stock, while outstanding, voted and participated in accordance with the terms of the underlying Certificate of Designation. One quarter of the shares of AAG Series A Preferred Stock initially issued was mandatorily convertible on each of the 30th, 60th, 90th and 120th days after the Effective Date, subject to additional voluntary conversions. The initial stated value of each share of AAG Series A Preferred Stock is $25.00 and accrues dividends at 6.25% per annum, calculated daily, while outstanding. Additionally, AAG Series A Preferred Stock converts to AAG Common Stock based upon the volume weighted average price of the shares of AAG Common Stock on the five trading days immediately preceding the conversion date, at a 3.5% fixed discount, subject to a conversion price floor of $10.875 per share and a conversion price cap of $33.8080 per share, below or above which the conversion rate remains fixed. AAG Series A Preferred Stock outstanding at March 31, 2014 is included within the "Mandatorily convertible preferred stock and other bankruptcy settlement obligations" line on the Company's condensed consolidated balance sheets. During the three months ended March 31, 2014, 140 million shares of AAG Series A Preferred Stock were converted into 118 million shares of AAG Common Stock in accordance with the Plan. The AAG Series A Preferred Stock obligation was reduced by approximately $3.5 billion, offset in part by an increase in the number of shares of AAG Common Stock issued and expected to be issued to settle the obligation resulting from an increase in the price of AAG's Common Stock exceeding the conversion price cap. As of April 8, 2014, all shares of AAG Series A Preferred Stock had been converted into an aggregate of 141 million shares of AAG Common Stock. | |||||||||
The Company's Single-Dip equity obligations, while outstanding, do not vote or participate in accordance with the terms of the Plan. These equity contract obligations, representing the amount of total Single-Dip unsecured creditor obligations not satisfied through the issuance of AAG Series A Preferred Stock at the Effective Date, represent an unconditional obligation to transfer a variable number of shares based predominantly on a fixed monetary amount known at inception, and, as such, are not treated as equity, but rather as liabilities until the 120th day after emergence. At the 120th day after emergence, the Company will issue a variable amount of AAG Common Stock necessary to satisfy the obligation amount at emergence, plus accrued dividends of 12% per annum, calculated daily, through the 120th day after emergence, based on the volume weighted average price of the shares of AAG Common Stock, at a 3.5% discount, as specified in the Plan and subject to there being a sufficient number of shares remaining for issuance to unsecured creditors under the Plan. | |||||||||
In exchange for employees' contributions to the successful reorganization of the Company, including agreeing to reductions in pay and benefits, the Company agreed in the Plan to provide each employee group a deemed claim which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees. Each employee group received a deemed claim amount based upon a fixed percentage of the distributions to be made to general unsecured claimholders. The fair value based on the expected number of shares to be distributed to satisfy this deemed claim, as adjusted, was approximately 1.5 billion. From the Effective Date through March 31, 2014, the Company has made distributions of $680 million in AAG Common Stock and paid approximately $380 million in cash to cover payroll taxes related to the equity distributions. As of March 31, 2014, the remaining liability to certain AMR labor groups and employees of $474 million is based upon the estimated fair value of the shares expected to be issued in satisfaction of such obligation, measured as if the obligation were settled using the trading price of AAG Common Stock at March 31, 2014. Increases in the trading price of AAG Common Stock after March 31, 2014 could cause a decrease in the fair value measurement of the remaining obligation, and vice-versa. The Company will record this obligation at fair value primarily through the 120th day after emergence, at which time the obligation will be materially settled. | |||||||||
As of March 31, 2014, the Company reduced the Mandatorily convertible preferred stock and other bankruptcy settlement obligations by approximately $41 million, which is included in Special items, net on the condensed consolidated statements of operations, to reflect the estimated fair value of the shares expected to be issued in satisfaction of the outstanding Mandatorily convertible preferred stock and other bankruptcy settlement obligations, measured as if the obligations were settled using the trading price of AAG Common Stock at March 31, 2014. | |||||||||
On April 8, 2014 the Company satisfied all of the AAG Series A Preferred Stock obligations, the Single-Dip equity obligations and the majority of the labor related deemed claim. After the April 8, 2014 distribution date, the Company had an obligation recorded related to the accrued Disputed Claims Reserve of approximately $335 million, which includes an amount expected to be issued to labor assuming the fully accrued Disputed Claims Reserve is allowed by the court and distributed. Allowed claims will receive 30.7553 shares, subject to reduction for expenses of the Disputed Claims Reserve, including tax liabilities, for each $1,000 of allowed claims. Accordingly, increases in the trading price of AAG Common Stock after March 31, 2014 could cause an increase in the value of the Disputed Claims Reserve, and vice-versa. | |||||||||
AA [Member] | ' | ||||||||
Class of Stock [Line Items] | ' | ||||||||
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations | ' | ||||||||
Bankruptcy Settlement Obligations | |||||||||
The components of Bankruptcy settlement obligations on American's condensed consolidated balance sheets are as follows (in millions) and reflect those included in AAG's consolidated financial statements. The settlement of these claims through the issuance of AAG common stock will result in an increase in additional paid-in capital for American. | |||||||||
31-Mar-14 | 31-Dec-13 | ||||||||
Single-Dip and Double-Dip equity obligations | 1,768 | 4,575 | |||||||
Labor-related deemed claim | 474 | 849 | |||||||
Total | $ | 2,242 | $ | 5,424 | |||||
The AAG Series A Preferred Stock, while outstanding, voted and participated in accordance with the terms of the underlying Certificate of Designation. One quarter of the shares of AAG Series A Preferred Stock initially issued was mandatorily convertible on each of the 30th, 60th, 90th and 120th days after the Effective Date, subject to additional voluntary conversions. The initial stated value of each share of AAG Series A Preferred Stock is $25.00 and accrues dividends at 6.25% per annum, calculated daily, while outstanding. Additionally, AAG Series A Preferred Stock converts to AAG Common Stock based upon the volume weighted average price of the shares of AAG Common Stock on the five trading days immediately preceding the conversion date, at a 3.5% fixed discount, subject to a conversion price floor of $10.875 per share and a conversion price cap of $33.8080 per share, below or above which the conversion rate remains fixed. AAG Series A Preferred Stock outstanding at March 31, 2014 is included within the "Bankruptcy settlement obligations" line on American's condensed consolidated balance sheets. During the three months ended March 31, 2014, 123 million shares of AAG Series A Preferred Stock were converted into 103 million shares of AAG Common Stock in accordance with the Plan in settlement of American's bankruptcy settlement obligations. The AAG Series A Preferred Stock obligation for American was reduced by approximately $3.0 billion, offset in part by an increase in the number of shares of AAG Common Stock issued and expected to be issued to settle the obligation resulting from an increase in the price of AAG's Common Stock exceeding the conversion price cap. As of April 8, 2014, all shares of AAG Series A Preferred Stock had been converted into an aggregate of 124 million shares of AAG Common Stock for settlement of American's bankruptcy settlement obligations. | |||||||||
The Single-Dip equity obligations, while outstanding, do not vote or participate in accordance with the terms of the Plan. These equity contract obligations, representing the amount of total Single-Dip unsecured creditor obligations not satisfied through the issuance of AAG Series A Preferred Stock at the Effective Date, represent an unconditional obligation to transfer a variable number of shares of AAG Common Stock based predominantly on a fixed monetary amount known at inception, and, as such, are not treated as equity, but rather as liabilities until the 120th day after emergence. At the 120th day after emergence, AAG will issue a variable amount of AAG Common Stock necessary to satisfy the obligation amount at emergence, plus accrued dividends of 12% per annum, calculated daily, through the 120th day after emergence, based on the volume weighted average price of the shares of AAG Common Stock, at a 3.5% discount, as specified in the Plan and subject to there being a sufficient number of shares remaining for issuance to unsecured creditors under the Plan. | |||||||||
In exchange for employees' contributions to the successful reorganization of AAG, including agreeing to reductions in pay and benefits, AAG and American agreed in the Plan to provide each employee group a deemed claim which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees. Each employee group received a deemed claim amount based upon a fixed percentage of the distributions to be made to general unsecured claimholders. The fair value based on the expected number of shares to be distributed to satisfy this deemed claim, as adjusted, was approximately $1.5 billion. From the Effective Date through March 31, 2014, AAG has made distributions of $680 million in AAG Common Stock and paid approximately $380 million in cash to cover payroll taxes related to the equity distributions. As of March 31, 2014, the remaining liability to certain AMR labor groups and employees of $474 million is based upon the estimated fair value of the shares expected to be issued in satisfaction of such obligation, measured as if the obligation were settled using the trading price of AAG Common Stock at March 31, 2014. Increases in the trading price of AAG Common Stock after March 31, 2014 could cause a decrease in the fair value measurement of the remaining obligation, and vice-versa. American will record this obligation at fair value primarily through the 120th day after emergence, at which time the obligation will be materially settled. | |||||||||
As of March 31, 2014, American reduced the Bankruptcy settlement obligations by approximately $65 million, which is included in Special items, net on the condensed consolidated statements of operations, to reflect the estimated fair value of the shares expected to be issued in satisfaction of the outstanding Bankruptcy settlement obligations, measured as if the obligations were settled using the trading price of AAG Common Stock at March 31, 2014. | |||||||||
On April 8, 2014, AAG satisfied all of the AAG Series A Preferred Stock obligations, the Single-Dip equity obligations and the majority of the labor related deemed claim. After the April 8, 2014 distribution date, American had an obligation recorded related to the accrued Disputed Claims Reserve of approximately $335 million, which includes an amount expected to be issued to labor assuming the fully accrued Disputed Claims Reserve is allowed by the court and distributed. Allowed claims will receive 30.7553 shares, subject to reduction for expenses of the Disputed Claims Reserve, including tax liabilities, for each $1,000 of allowed claims. Accordingly, increases in the trading price of AAG Common Stock after March 31, 2014 could cause an increase in the value of the Disputed Claims Reserve, and vice-versa. |
Slot_Divestiture
Slot Divestiture | 3 Months Ended |
Mar. 31, 2014 | |
Noncash or Part Noncash Divestitures [Line Items] | ' |
Slot Divestiture | ' |
Slot Divestiture | |
As a stipulation for the Merger to be approved by the Department of Justice (DOJ), the Company was required to divest certain slots at Ronald Reagan Washington National Airport (DCA). As of December 31, 2013, the DCA slots to be divested were recorded as assets held for sale and included in Prepaid expenses and other on the consolidated balance sheet. During the three months ended March 31, 2014, the Company divested the required DCA slots and received $307 million in cash as well as 24 slots at John F. Kennedy Airport. The Company recognized a gain of $309 million related to the divestiture, which has been included in Special items, net in the condensed consolidated statement of operations | |
. | |
AA [Member] | ' |
Noncash or Part Noncash Divestitures [Line Items] | ' |
Slot Divestiture | ' |
Slot Divestiture | |
As a stipulation for the Merger to be approved by the Department of Justice (DOJ), American was required to divest certain slots at Ronald Reagan Washington National Airport (DCA). As of December 31, 2013, the DCA slots to be divested were recorded as assets held for sale and included in Prepaid expenses and other on the consolidated balance sheet. During the three months ended March 31, 2014, American divested the required DCA slots and received $299 million in cash as well as 24 slots at John F. Kennedy Airport. American recognized a gain of $305 million related to the divestiture, which has been included in Special items, net in the condensed consolidated statement of operations. |
Special_Items
Special Items | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Restructuring Cost and Reserve [Line Items] | ' | ||||||||
Special Items | ' | ||||||||
Special Items | |||||||||
Special items, net on the condensed consolidated statements of operations is as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Mainline operating special items, net (a) | $ | (137 | ) | $ | 71 | ||||
(a) | The 2014 first quarter mainline operating special items totaled a net credit of $137 million, which principally included a $309 million gain on the sale of slots at DCA and a net $32 million credit for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $142 million of cash merger integration expenses including amounts related to the pilot memorandum of understanding, information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as $60 million of non-cash compensation expense for merger equity awards. | ||||||||
The 2013 first quarter mainline operating special items included $28 million in merger related expenses and a $43 million charge for workers' compensation claims. | |||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Regional operating special items, net | $ | 4 | $ | 2 | |||||
Nonoperating special items, net (b) | 47 | 116 | |||||||
Reorganization items, net (c) | — | 160 | |||||||
Income tax special items, net (d) | 8 | — | |||||||
(b) | The 2014 first quarter nonoperating special items of $47 million were principally due to non-cash interest accretion of $31 million on the bankruptcy settlement obligations. | ||||||||
The 2013 first quarter nonoperating special items consisted of interest charges to recognize post-petition interest expense on unsecured obligations pursuant to the Plan. | |||||||||
(c) | In the 2013 first quarter, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | ||||||||
(d) | The 2014 first quarter included a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. | ||||||||
AA [Member] | ' | ||||||||
Restructuring Cost and Reserve [Line Items] | ' | ||||||||
Special Items | ' | ||||||||
Special Items | |||||||||
Special items, net on the condensed consolidated statements of operations is as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Mainline operating special items, net (a) | $ | (216 | ) | $ | 71 | ||||
(a) | The 2014 first quarter mainline operating special items totaled a net credit of $216 million, which principally included a $305 million gain on the sale of slots at DCA and a net $56 million credit for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $91 million of cash merger integration expenses including amounts related to the pilot memorandum of understanding, information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as $43 million of non-cash compensation expense for merger equity awards. | ||||||||
The 2013 first quarter mainline operating special items included $28 million in merger related expenses and a $43 million charge for workers' compensation claims. | |||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Regional operating special items, net | $ | 1 | $ | — | |||||
Nonoperating special items, net (b) | 44 | 27 | |||||||
Reorganization items, net (c) | — | 160 | |||||||
Income tax special items, net (d) | 7 | — | |||||||
(b) | The 2014 first quarter nonoperating special items of $44 million were principally due to non-cash interest accretion of $27 million on the bankruptcy settlement obligations. | ||||||||
The 2013 first quarter nonoperating special items consisted of interest charges to recognize post-petition interest expense on unsecured obligations pursuant to the Plan. | |||||||||
(c) | In the 2013 first quarter, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | ||||||||
(d) | The 2014 first quarter included a special $7 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Earnings_Loss_Per_Share
Earnings (Loss) Per Share | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings (Loss) Per Share | ' | |||||||
Earnings (Loss) Per Share | ||||||||
Pursuant to the Plan and the Merger Agreement, holders of AMR common stock formerly traded under the symbol “AAMRQ” received shares of AAG Common Stock principally over the 120-day distribution period following the Effective Date. In accordance with GAAP, the first quarter 2013 weighted average shares and loss per share calculation have been adjusted to retrospectively reflect these distributions which were made at the rate of approximately 0.7441 shares of AAG Common Stock per share of AAMRQ. Former holders of AAMRQ shares as of the Effective Date may in the future receive additional distributions of AAG Common Stock dependent upon the ultimate distribution of shares of AAG Common Stock to holders of disputed claims. Thus, the shares and related earnings per share (EPS) calculation prior to the Effective Date may change in the future to reflect additional retrospective adjustments for future AAG Common Stock distributions to former holders of AAMRQ shares. | ||||||||
As of March 31, 2014, approximately 147 million shares remain to be distributed pursuant to the Plan upon the conversion of AAG Series A Preferred Stock and to satisfy other bankruptcy settlement obligations related to allowed unsecured claims, including disputed claims, labor-related deemed claims and former holders of AAMRQ shares. However, the Company remitted cash for employee withholding taxes in lieu of distributing approximately 4 million shares for the final mandatory distribution to employees on April 8, 2014. Although undistributed shares are not yet issued and outstanding, all conditions of distribution except the passage of time have been met and such shares are considered issued and outstanding for purposes of the Company's basic and diluted EPS calculation. | ||||||||
The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except share and per share amounts in thousands): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Basic EPS: | ||||||||
Net income (loss) | $ | 480 | $ | (341 | ) | |||
Weighted-average common shares outstanding (in thousands) | 723,971 | 249,491 | ||||||
Basic EPS | $ | 0.66 | $ | (1.37 | ) | |||
Diluted EPS: | ||||||||
Net income (loss) | $ | 480 | $ | (341 | ) | |||
Change in fair value of conversion feature on 7.25% convertible senior notes (a) | 5 | — | ||||||
Net income (loss) for purposes of computing diluted EPS | $ | 485 | $ | (341 | ) | |||
Share computation for diluted EPS (in thousands): | ||||||||
Weighted-average shares outstanding | 723,971 | 249,491 | ||||||
Dilutive effect of stock awards | 13,534 | — | ||||||
Assumed conversion of 7.25% convertible senior notes (a) | 3,830 | — | ||||||
Weighted average common shares outstanding - as adjusted | 741,335 | 249,491 | ||||||
Diluted EPS | $ | 0.65 | $ | (1.37 | ) | |||
The following were excluded from the computation of diluted EPS (in thousands): | ||||||||
Stock options, SARs and RSUs because inclusion would be antidilutive | 33 | 20,010 | ||||||
Convertible notes because inclusion would be antidilutive | — | 34,581 | ||||||
(a) | In March 2014, the Company notified the holders of US Airways Group's 7.25% convertible senior notes that it has elected to settle all future conversions solely in cash instead of shares of AAG Common Stock in accordance with the related indenture. Thus, the diluted shares include the weighted average impact of the 7.25% convertible senior notes only for the period from January 1, 2014 to March 12, 2014. In addition, under GAAP, the Company must adjust the numerator for purposes of calculating diluted earnings per share by the change in fair value of the conversion feature from March 12, 2014 to March 31, 2014, which increased GAAP net income for purposes of computing diluted earnings per share by $5 million. |
Debt
Debt | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Instrument [Line Items] | ' | |||||||
Indebtedness | ' | |||||||
Debt | ||||||||
Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): | ||||||||
March 31, | 31-Dec-13 | |||||||
2014 | ||||||||
Secured | ||||||||
American | ||||||||
Secured indebtedness, fixed and variable interest rates ranging from 1.43% to 8.10%, maturing from 2014 to 2023 | $ | 1,966 | $ | 2,140 | ||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 4.00% to 7.00%, maturing from 2017 to 2025 | 3,415 | 3,516 | ||||||
Special facility revenue bonds, fixed interest rates ranging from 7.125% to 8.50%, maturing from 2016 to 2031 | 1,313 | 1,313 | ||||||
7.50% senior secured notes, interest only payments until due in 2016 | 900 | 1,000 | ||||||
Senior secured credit facility, variable interest rate of 3.75%, installments through 2019 | 1,886 | 1,891 | ||||||
AAdvantage Miles advance purchase, effective rate of 8.30%, installments through 2017 | 568 | 611 | ||||||
Other secured obligations, fixed interest rates ranging from 5.20% to 12.20%, maturing from 2014 to 2035 | 532 | 380 | ||||||
Total American secured debt | 10,580 | 10,851 | ||||||
US Airways Group | ||||||||
2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 | 1,000 | 1,000 | ||||||
2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 | 600 | 600 | ||||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.95% to 11.00%, maturing from 2014 to 2025 | 2,703 | 2,515 | ||||||
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.55% to 8.48%, maturing from 2015 to 2029 | 1,297 | 1,330 | ||||||
Other secured obligations, fixed interest rates ranging from 5.20% to 8.00%, maturing from 2015 to 2028 | 46 | 47 | ||||||
Total US Airways Group secured debt | 5,646 | 5,492 | ||||||
Total AAG secured debt | 16,226 | 16,343 | ||||||
Unsecured | ||||||||
US Airways Group | ||||||||
6.125% senior notes, interest only payments until due in 2018 | 500 | 500 | ||||||
7.25% convertible senior notes, interest only payments until due in 2014 | 22 | 22 | ||||||
Industrial development bonds, fixed interest rate of 6.30%, interest only payments until due in 2023 | 29 | 29 | ||||||
Total US Airways Group unsecured debt | 551 | 551 | ||||||
Total AAG unsecured debt | 551 | 551 | ||||||
Total long-term debt and capital lease obligations | 16,777 | 16,894 | ||||||
Less: total unamortized debt discount | 92 | 95 | ||||||
Less: current maturities | 1,441 | 1,446 | ||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 15,244 | $ | 15,353 | ||||
Senior Secured Notes (American) | ||||||||
In March 2014, American prepaid $100 million of its 7.50% senior secured notes at a redemption price of 103% of principal amount plus accrued and unpaid interest. | ||||||||
2013-1 EETCs (US Airways) | ||||||||
In the first quarter of 2014, US Airways issued $224 million of equipment notes in two series under its 2013-1 EETCs completed in April 2013: Series A equipment notes in the amount of $170 million bearing interest at 3.95% per annum and Series B equipment notes in the amount of $54 million bearing interest at 5.375% per annum. The equipment notes are secured by liens on aircraft. | ||||||||
7.25% Convertible Notes (US Airways Group) | ||||||||
In March 2014, the Company notified the holders of US Airways Group's 7.25% convertible notes that it has elected to settle solely in cash instead of shares of AAG Common Stock all conversions during the period beginning on March 15, 2014 and ending on, and including, the second scheduled trading day immediately preceding the maturity date of May 15, 2014. As a result, as of March 31, 2014, the Company has reclassified from equity into other current liabilities the cash payment expected upon conversion of these notes less the carrying amount of debt in the amount of $157 million. | ||||||||
Guarantees | ||||||||
In March 2014, AAG, US Airways Group and US Airways entered into amended and restated guarantees of the payment obligations of US Airways under the equipment notes relating to each of its Series 2010-1, 2011-1, 2012-1, 2012-2 and 2013-1 Pass Through Certificates the result of which was to add AAG as a guarantor of such equipment notes on a joint and several basis with US Airways Group. Refer to Note 15 for further information. | ||||||||
AA [Member] | ' | |||||||
Debt Instrument [Line Items] | ' | |||||||
Indebtedness | ' | |||||||
Debt | ||||||||
Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): | ||||||||
March 31, | 31-Dec-13 | |||||||
2014 | ||||||||
Secured | ||||||||
Secured indebtedness, fixed and variable interest rates ranging from 1.43% to 8.10%, maturing from 2014 to 2023 | $ | 1,966 | $ | 2,140 | ||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 4.00% to 7.00%, maturing from 2017 to 2025 | 3,415 | 3,516 | ||||||
Special facility revenue bonds, fixed interest rates ranging from 7.125% to 8.50%, maturing from 2016 to 2031 | 1,313 | 1,313 | ||||||
7.50% senior secured notes, interest only payments until due in 2016 | 900 | 1,000 | ||||||
Senior secured credit facility, variable interest rate of 3.75%, installments through 2019 | 1,886 | 1,891 | ||||||
AAdvantage Miles advance purchase, effective rate of 8.30%, installments through 2017 | 568 | 611 | ||||||
Other secured obligations, fixed interest rates ranging from 5.20% to 12.20%, maturing from 2014 to 2035 | 532 | 380 | ||||||
10,580 | 10,851 | |||||||
Unsecured | ||||||||
Affiliate unsecured obligations | 27 | 27 | ||||||
27 | 27 | |||||||
Total long-term debt and capital lease obligations | 10,607 | 10,878 | ||||||
Less: total unamortized debt discount | 66 | 69 | ||||||
Less: current maturities | 951 | 957 | ||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 9,590 | $ | 9,852 | ||||
Senior Secured Notes | ||||||||
In March 2014, American prepaid $100 million of its 7.50% senior secured notes at a redemption price of 103% of principal amount plus accrued and unpaid interest. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Line Items] | ' |
Income Taxes | ' |
Income Taxes | |
As a result of the Merger, US Airways Group and its subsidiaries are included in the AAG consolidated federal and state income tax returns for the three months ended March 31, 2014. The Merger resulted in a statutory "ownership change" on December 9, 2013, as defined in Section 382 of the Internal Revenue Code of 1986, as amended (Section 382), which limits the Company's future ability to utilize NOLs generated before the ownership change and certain subsequently recognized "built-in" losses and deductions, if any, existing as of the date of the ownership change. The general limitation rules for a debtor in a bankruptcy case are liberalized where an ownership change occurs upon emergence from bankruptcy. The Company's ability to utilize any new NOLs arising after the ownership change is not affected. | |
At December 31, 2013, the Company had approximately $10.6 billion of gross NOLs to reduce future federal taxable income, the majority of which are expected to be available for use in 2014, subject to the Section 382 limitation described above. The federal NOLs will expire beginning in 2022 if unused. These NOLs include an unrealized tax benefit of $762 million related to the implementation of share-based compensation accounting guidance that will be recorded in equity when realized. The Company also had approximately $4.7 billion of gross NOLs to reduce future state taxable income at December 31, 2013, which will expire in years 2014 through 2033 if unused. At December 31, 2013, the Company had an Alternative Minimum Tax (AMT) credit carryforward of approximately $370 million available for federal income tax purposes, which is available for an indefinite period. The Company's net deferred tax assets, which include the NOLs, are subject to a full valuation allowance. At December 31, 2013, the federal and state valuation allowances were $4.6 billion and $415 million, respectively. In accordance with GAAP, utilization of the NOLs after December 9, 2013 will result in a corresponding decrease in the valuation allowance and offset the Company's tax provision dollar for dollar. | |
For the three months ended March 31, 2014, the Company utilized NOLs to reduce its income tax obligation. However, the Company recorded a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets and $5 million of state and international income tax expense related to certain states and countries where NOLs were limited or unavailable to be used. | |
For the three months ended March 31, 2013, the Company reported a loss before income taxes and recorded an income tax benefit of approximately $22 million as a result of the American Taxpayer Relief Act of 2012. | |
When profitable, the Company is ordinarily subject to AMT. However as a result of a special tax election made in 2009, the Company was able to utilize AMT NOLs to fully offset its AMT taxable income for the three months ended March 31, 2014. | |
AA [Member] | ' |
Income Tax Disclosure [Line Items] | ' |
Income Taxes | ' |
Income Taxes | |
The Merger resulted in a statutory "ownership change" on December 9, 2013, as defined in Section 382 of the Internal Revenue Code of 1986, as amended (Section 382), which limits American's future ability to utilize NOLs generated before the ownership change and certain subsequently recognized "built-in" losses and deductions, if any, existing as of the date of the ownership change. The general limitation rules for a debtor in a bankruptcy case are liberalized where an ownership change occurs upon emergence from bankruptcy. American's ability to utilize any new NOLs arising after the ownership change is not affected. | |
At December 31, 2013, American had approximately $9.5 billion of gross NOLs to reduce future federal taxable income, the majority of which are expected to be available for use in 2014, subject to the Section 382 limitation described above. The federal NOLs will expire beginning in 2022 if unused. These NOLs include an unrealized tax benefit of $647 million related to the implementation of share-based compensation accounting guidance that will be recorded in equity when realized. American also had approximately $3.8 billion of gross NOLs to reduce future state taxable income at December 31, 2013, which will expire in years 2014 through 2033 if unused. At December 31, 2013, American had an Alternative Minimum Tax (AMT) credit carryforward of approximately $467 million available for federal income tax purposes, which is available for an indefinite period. American's net deferred tax assets, which include the NOLs, are subject to a full valuation allowance. At December 31, 2013, the federal and state valuation allowances were $4.9 billion and $378 million, respectively. In accordance with GAAP, utilization of the NOLs after December 9, 2013 will result in a corresponding decrease in the valuation allowance and offset American's tax provision dollar for dollar. | |
For the three months ended March 31, 2014, American utilized NOLs to reduce its income tax obligation. However, American recorded a special $7 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets and $4 million of state and international income tax expense related to certain states and countries where NOLs were limited or unavailable to be used. | |
For the three months ended March 31, 2013, American reported a loss before income taxes and recorded an income tax benefit of approximately $30 million as a result of the American Taxpayer Relief Act of 2012. | |
When profitable, American is ordinarily subject to AMT. However as a result of a special tax election made in 2009, American was able to utilize AMT NOLs to fully offset its AMT taxable income for the three months ended March 31, 2014. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ||||||||||||||||
Investments and Fair Value Measurements | ' | ||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The Company's short-term investments classified as Level 2 primarily utilize broker quotes in a non-active market for valuation of these securities. The Company's fuel derivative contracts, which consist primarily of call options, collars (consisting of a purchased call option and a sold put option) and call spreads (consisting of a purchased call option and a sold call option), are valued using energy and commodity market data which is derived by combining raw inputs with quantitative models and processes to generate forward curves and volatilities. Jet fuel, crude oil, and ultra low sulfur diesel are the primary underlying commodities in the hedge portfolio. No changes in valuation techniques or inputs occurred during the three months ended March 31, 2014. | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): | |||||||||||||||||
Fair Value Measurements as of March 31, 2014 | |||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Short-term investments (1), (2) | |||||||||||||||||
Money market funds | $ | 3,596 | $ | 3,596 | $ | — | $ | — | |||||||||
Government agency investments | 941 | — | 941 | — | |||||||||||||
Repurchase agreements | 99 | — | 99 | — | |||||||||||||
Corporate obligations | 3,064 | — | 3,064 | — | |||||||||||||
Bank notes / Certificates of deposit / Time deposits | 705 | — | 705 | — | |||||||||||||
8,405 | 3,596 | 4,809 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 947 | 891 | 56 | — | |||||||||||||
Fuel derivative contracts, net (1) | 50 | — | 50 | — | |||||||||||||
Total | $ | 9,402 | $ | 4,487 | $ | 4,915 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments, restricted cash and short-term investments, and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date. | ||||||||||||||||
(2) | The Company's short-term investments mature in one year or less except $441 million of U.S. government agency investments and $2.1 billion of corporate obligations. | ||||||||||||||||
There were no Level 1 to Level 2 transfers during the three months ended March 31, 2014. The Company's policy regarding the recording of transfers between levels is to reflect any such transfers at the end of the reporting period. | |||||||||||||||||
Approximately $5.0 billion of the Company's short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are reflected as a component of Accumulated other comprehensive income (loss). Approximately $3.4 billion of the Company's short-term investments are classified as held to maturity and recorded at cost, which approximates fair value. | |||||||||||||||||
The Company is also party to certain interest rate swap agreements that are accounted for as cash flow hedges. Ineffectiveness for these instruments is required to be measured at each reporting period. The ineffectiveness and fair value associated with all of the Company's interest rate cash flow hedges for all periods presented was not material. | |||||||||||||||||
Venezuela Cash and Short-term Investments | |||||||||||||||||
As of March 31, 2014, approximately $750 million of the Company’s unrestricted cash balance was held in Venezuelan bolivars, valued at the weighted average applicable exchange rate of 6.32 bolivars to the dollar. This includes approximately $94 million valued at 4.3 bolivars, approximately $611 million valued at 6.3 bolivars, and approximately $45 million valued at 10.7 bolivars, with the rate depending on the date the Company submitted its repatriation request to the Venezuelan government. In the first quarter of 2014, the Venezuelan government announced that a newly-implemented system (SICAD I) will determine the exchange rate (which fluctuates as determined by weekly auctions and at March 31, 2014 was 10.7 bolivars to the dollar) for repatriation of cash proceeds from ticket sales after January 1, 2014, and introduced new procedures for approval of repatriation of local currency. The Company is continuing to work with Venezuelan authorities regarding the timing and exchange rate applicable to the repatriation of funds held in local currency, is monitoring this situation closely and continues to evaluate its holdings of Venezuelan bolivars for potential impairment. See Part II, Item 1A. - Risk Factors "We operate a global business with international operations that are subject to economic and political instability and have been, and in the future may continue to be, adversely affected by numerous events, circumstances or government actions beyond our control" for additional discussion of these and other currency risks. | |||||||||||||||||
Fair Value of Debt | |||||||||||||||||
The fair values of the Company’s long-term debt were estimated using quoted market prices or discounted cash flow analyses, based on the Company’s current estimated incremental borrowing rates for similar types of borrowing arrangements. If the Company’s long-term debt was measured at fair value, it would have been classified as Level 2 in the fair value hierarchy. | |||||||||||||||||
In connection with the Merger, US Airways Group's long-term debt was recorded at fair value as of December 9, 2013 using the acquisition method of accounting in accordance with ASC 805, "Business Combinations" and was determined by discounting the future contractual principal and interest payments using a market interest rate. | |||||||||||||||||
The carrying value and estimated fair values of the Company’s long-term debt, including current maturities, were (in millions): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 16,685 | $ | 17,494 | $ | 16,799 | $ | 17,035 | |||||||||
AA [Member] | ' | ||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ||||||||||||||||
Investments and Fair Value Measurements | ' | ||||||||||||||||
Fair Value Measurements | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
American utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. American's short-term investments classified as Level 2 primarily utilize broker quotes in a non-active market for valuation of these securities. American's fuel derivative contracts, which consist primarily of call options, collars (consisting of a purchased call option and a sold put option) and call spreads (consisting of a purchased call option and a sold call option), are valued using energy and commodity market data which is derived by combining raw inputs with quantitative models and processes to generate forward curves and volatilities. Jet fuel, crude oil, and ultra low sulfur diesel are the primary underlying commodities in the hedge portfolio. No changes in valuation techniques or inputs occurred during the three months ended March 31, 2014. | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): | |||||||||||||||||
Fair Value Measurements as of March 31, 2014 | |||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Short-term investments (1), (2) | |||||||||||||||||
Money market funds | $ | 171 | $ | 171 | $ | — | $ | — | |||||||||
Government agency investments | 941 | — | 941 | — | |||||||||||||
Repurchase agreements | 99 | — | 99 | — | |||||||||||||
Corporate obligations | 3,064 | — | 3,064 | — | |||||||||||||
Bank notes / Certificates of deposit / Time deposits | 704 | — | 704 | — | |||||||||||||
4,979 | 171 | 4,808 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 699 | 643 | 56 | — | |||||||||||||
Fuel derivative contracts, net (1) | 50 | — | 50 | — | |||||||||||||
Total | $ | 5,728 | $ | 814 | $ | 4,914 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments, restricted cash and short-term investments, and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date. | ||||||||||||||||
(2) | American's short-term investments mature in one year or less except for $441 million of U.S. government agency investments and $2.1 billion of corporate obligations. | ||||||||||||||||
There were no Level 1 to Level 2 transfers during the three months ended March 31, 2014. American's policy regarding the recording of transfers between levels is to reflect any such transfers at the end of the reporting period. | |||||||||||||||||
All of American's short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are reflected as a component of Accumulated other comprehensive income (loss). | |||||||||||||||||
American is also party to certain interest rate swap agreements that are accounted for as cash flow hedges. Ineffectiveness for these instruments is required to be measured at each reporting period. The ineffectiveness and fair value associated with all of American's interest rate cash flow hedges for all periods presented was not material. | |||||||||||||||||
Venezuela Cash and Short-term Investments | |||||||||||||||||
As of March 31, 2014, approximately $750 million of the American's unrestricted cash balance was held in Venezuelan bolivars, valued at the weighted average applicable exchange rate of 6.32 bolivars to the dollar. This includes approximately $94 million valued at 4.3 bolivars, approximately $611 million valued at 6.3 bolivars, and approximately $45 million valued at 10.7 bolivars, with the rate depending on the date American submitted its repatriation request to the Venezuelan government. In the first quarter of 2014, the Venezuelan government announced that a newly-implemented system (SICAD I) will determine the exchange rate (which fluctuates as determined by weekly auctions and at March 31, 2014 was 10.7 bolivars to the dollar) for repatriation of cash proceeds from ticket sales after January 1, 2014, and introduced new procedures for approval of repatriation of local currency. American is continuing to work with Venezuelan authorities regarding the timing and exchange rate applicable to the repatriation of funds held in local currency, is monitoring this situation closely and continues to evaluate its holdings of Venezuelan bolivars for potential impairment. See Part II, Item 1A. - Risk Factors "We operate a global business with international operations that are subject to economic and political instability and have been, and in the future may continue to be, adversely affected by numerous events, circumstances or government actions beyond our control" for additional discussion of these and other currency risks. | |||||||||||||||||
Fair Value of Debt | |||||||||||||||||
The fair values of American’s long-term debt were estimated using quoted market prices or discounted cash flow analyses, based on American's current estimated incremental borrowing rates for similar types of borrowing arrangements. If American's long-term debt was measured at fair value, it would have been classified as Level 2 in the fair value hierarchy. | |||||||||||||||||
The carrying value and estimated fair values of American’s long-term debt, including current maturities, were (in millions): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 10,541 | $ | 11,032 | $ | 10,809 | $ | 11,045 | |||||||||
Retirement_Benefits
Retirement Benefits | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||
Retirement Benefits | ' | ||||||||||||||||
Retirement Benefits | |||||||||||||||||
The following table provides the components of net periodic benefit cost for the three months ended March 31, 2014 and 2013 (in millions): | |||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Components of net periodic benefit cost: | |||||||||||||||||
Service cost | $ | — | $ | 1 | $ | — | $ | — | |||||||||
Interest cost | 186 | 163 | 15 | 13 | |||||||||||||
Expected return on assets | (196 | ) | (180 | ) | (5 | ) | (4 | ) | |||||||||
Settlements | 2 | — | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost | 7 | 7 | (61 | ) | (61 | ) | |||||||||||
Unrecognized net loss (gain) | 11 | 23 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 10 | $ | 14 | $ | (53 | ) | $ | (54 | ) | |||||||
Effective November 1, 2012, the Company's defined benefit pension plans were frozen. | |||||||||||||||||
The Company is required to make minimum contributions to its defined benefit pension plans under the minimum funding requirements of ERISA, the Pension Funding Equity Act of 2004, the Pension Protection Act of 2006, the Pension Relief Act of 2010, and the Moving Ahead for Progress in the 21st Century Act of 2012. During the first three months of 2014, the Company contributed $34 million to its defined benefit pension plans. On April 15, 2014, the Company contributed an additional $37 million to its defined benefit pension plans. During the first three months of 2013, the Company contributed $33 million to its defined benefit plans covering post-petition periods. Prior to emergence from bankruptcy, the Company made a $385 million contribution to its defined benefit plans in connection with missed contributions during Chapter 11 as well as interest and penalty interest. | |||||||||||||||||
AA [Member] | ' | ||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||
Retirement Benefits | ' | ||||||||||||||||
Retirement Benefits | |||||||||||||||||
The following table provides the components of net periodic benefit cost for the three months ended March 31, 2014 and 2013 (in millions): | |||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Components of net periodic benefit cost: | |||||||||||||||||
Service cost | $ | — | $ | 1 | $ | — | $ | — | |||||||||
Interest cost | 185 | 163 | 14 | 13 | |||||||||||||
Expected return on assets | (195 | ) | (180 | ) | (5 | ) | (4 | ) | |||||||||
Settlements | 2 | — | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost | 7 | 7 | (60 | ) | (61 | ) | |||||||||||
Unrecognized net loss (gain) | 11 | 23 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 10 | $ | 14 | $ | (53 | ) | $ | (54 | ) | |||||||
Effective November 1, 2012, American's defined benefit pension plans were frozen. | |||||||||||||||||
American is required to make minimum contributions to its defined benefit pension plans under the minimum funding requirements of ERISA, the Pension Funding Equity Act of 2004, the Pension Protection Act of 2006, the Pension Relief Act of 2010, and the Moving Ahead for Progress in the 21st Century Act of 2012. During the first three months of 2014, American contributed $34 million to its defined benefit pension plans. On April 15, 2014, American contributed an additional $37 million to its defined benefit pension plans. During the first three months of 2013, American contributed $33 million to its defined benefit plans covering post-petition periods. Prior to emergence from bankruptcy, American made a $385 million contribution to its defined benefit plans in connection with missed contributions during Chapter 11 as well as interest and penalty interest. |
Financial_Instruments_And_Risk
Financial Instruments And Risk Management | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Derivative [Line Items] | ' | |||||||||
Financial Instruments And Risk Management | ' | |||||||||
Financial Instruments and Risk Management | ||||||||||
Fuel Price Risk Management | ||||||||||
As of March 31, 2014, the Company had fuel derivative contracts outstanding covering 15 million barrels of jet fuel that will be settled over the next fifteen months. The Company does not hold or issue derivative financial instruments for trading purposes. The Company has not entered into any fuel hedges since the Effective Date, and its current policy is not to do so. | ||||||||||
In accordance with GAAP, the Company assesses, both at the inception of each hedge and on an ongoing basis, whether the derivatives that are used in its hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. Derivatives that meet the requirements are granted special hedge accounting treatment and the Company’s hedges generally meet these requirements. Accordingly, the Company’s fuel derivative contracts are accounted for as cash flow hedges and the fair value of the Company’s hedging contracts is recorded in current assets or current liabilities in the accompanying condensed consolidated balance sheets, until the underlying jet fuel is purchased. The Company determines the ineffective portion of its fuel hedge contracts by comparing the cumulative change in the total value of the fuel hedge contract, or group of fuel hedge contracts, to the cumulative change in a hypothetical jet fuel hedge. If the total cumulative change in value of the fuel hedge contract more than offsets the total cumulative change in a hypothetical jet fuel hedge, the difference is considered ineffective and is immediately recognized as a component of aircraft fuel expense. Effective gains or losses on fuel hedging contracts are deferred in accumulated other comprehensive income (loss) (OCI) and are recognized in earnings as a component of aircraft fuel expense when the underlying jet fuel being hedged is used. | ||||||||||
Ineffectiveness is inherent in hedging jet fuel with derivative positions based in crude oil or other crude oil related commodities. The Company assesses, both at the inception of each hedge and on an ongoing basis, whether the derivatives that are used in its hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. In doing so, the Company uses a regression model to determine the correlation of the change in prices of the commodities used to hedge jet fuel (e.g., NY Harbor Ultra Low Sulfur Diesel) to the change in the price of jet fuel. The Company also monitors the actual dollar offset of the hedges’ market values as compared to hypothetical jet fuel hedges. The fuel hedge contracts are generally deemed to be "highly effective" if the R-squared is greater than 80% and the dollar offset correlation is within 80% to 125%. The Company discontinues hedge accounting prospectively if it determines that a derivative is no longer expected to be highly effective as a hedge or if it decides to discontinue the hedging relationship. Subsequently, any changes in the fair value of these derivatives are marked to market through earnings in the period of change. | ||||||||||
For the three months ended March 31, 2014 and 2013, the Company recognized net gains/(losses) of approximately $(2) million, and $8 million, respectively, as a component of aircraft fuel expense on the accompanying condensed consolidated statements of operations related to its fuel hedging agreements, including the ineffective portion of the hedges. The net fair value of the Company’s fuel hedging agreements at March 31, 2014 and December 31, 2013, representing the amount the Company would receive upon termination of the agreements (net of settled contract assets), totaled $48 million and $107 million, respectively. As of March 31, 2014, the Company estimates that during the next twelve months it will reclassify from OCI into earnings approximately $3 million in net losses (based on prices as of March 31, 2014) related to its fuel derivative hedges. | ||||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on the Company’s condensed consolidated statements of operations is depicted below (in millions): | ||||||||||
Location in condensed consolidated statements of operations | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of gain (loss) reclassified from accumulated OCI into income (1) | Aircraft fuel and related taxes | $ | (7 | ) | $ | 1 | ||||
Amount of gain (loss) recognized in income on derivative (2) | Aircraft fuel and related taxes | 5 | 7 | |||||||
Amount of gain (loss) recognized in condensed consolidated statements of operations (3) | Aircraft fuel and related taxes | $ | (2 | ) | $ | 8 | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
(2) Includes the ineffective portion of hedge gain (loss) | ||||||||||
(3) Includes the effective and ineffective portion of hedge gain (loss) | ||||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on the Company’s condensed consolidated statements of comprehensive income (loss) is depicted below (in millions): | ||||||||||
Location | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of (gain) loss reclassified from accumulated OCI into income (1) | Reclassification into earnings | $ | 7 | $ | (1 | ) | ||||
Amount of gain (loss) recognized in OCI on derivative (1) | Change in fair value | (57 | ) | (13 | ) | |||||
Amount of gain (loss) recognized in condensed consolidated statements of comprehensive income | $ | (50 | ) | $ | (14 | ) | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
While certain of the Company's fuel derivatives are subject to enforceable master netting agreements with its counterparties, the Company does not offset its fuel derivative assets and liabilities in its condensed consolidated balance sheets. Certain of these agreements would also allow for the offsetting of fuel derivatives with interest rate derivatives. The impact of aircraft fuel derivative instruments (all cash flow hedges) on the Company's condensed consolidated balance sheets, and the impact of offsetting aircraft fuel derivative instruments, is depicted below (in millions): | ||||||||||
March 31, | December 31, | |||||||||
2014 | 2013 | |||||||||
Gross asset (1) | $ | 50 | $ | 109 | ||||||
Gross liability (2) | — | — | ||||||||
Net recognized asset (liability) in condensed consolidated balance sheet | 50 | 109 | ||||||||
Gross asset (liability) offset in condensed consolidated balance sheet: | ||||||||||
Financial instruments | — | — | ||||||||
Cash collateral received (posted) (3) | — | — | ||||||||
Net amount | $ | 50 | $ | 109 | ||||||
(1) | Fuel derivative assets are included in prepaid expenses and other on the accompanying condensed consolidated balance sheets. | |||||||||
(2) | Fuel derivative liabilities are included in accrued liabilities on the accompanying condensed consolidated balance sheets. | |||||||||
(3) | As of March 31, 2014, the Company had no posted cash collateral. | |||||||||
The Company is also exposed to credit losses in the event of non-performance by counterparties to these financial instruments, and although no assurances can be given, the Company does not expect any of the counterparties to fail to meet their obligations. The credit exposure related to these financial instruments is represented by the fair value of contracts with a positive fair value at the reporting date, reduced by the effects of master netting agreements. To manage credit risks, the Company selects counterparties based on credit ratings, limits its exposure to a single counterparty under defined guidelines, and monitors the market position of the program and its relative market position with each counterparty. The Company also maintains industry-standard security agreements with a number of its counterparties which may require the Company or the counterparty to post collateral if the value of selected instruments exceeds specified mark-to-market thresholds or upon certain changes in credit ratings. The amount of collateral required to be posted from time to time may be substantial. | ||||||||||
AA [Member] | ' | |||||||||
Derivative [Line Items] | ' | |||||||||
Financial Instruments And Risk Management | ' | |||||||||
Financial Instruments and Risk Management | ||||||||||
Fuel Price Risk Management | ||||||||||
As of March 31, 2014, American had fuel derivative contracts outstanding covering 15 million barrels of jet fuel that will be settled over the next fifteen months. American does not hold or issue derivative financial instruments for trading purposes. American has not entered into any fuel hedges since the Effective Date, and its current policy is not to do so. | ||||||||||
In accordance with GAAP, American assesses, both at the inception of each hedge and on an ongoing basis, whether the derivatives that are used in its hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. Derivatives that meet the requirements are granted special hedge accounting treatment and American’s hedges generally meet these requirements. Accordingly, American’s fuel derivative contracts are accounted for as cash flow hedges and the fair value of American’s hedging contracts is recorded in current assets or current liabilities in the accompanying condensed consolidated balance sheets, until the underlying jet fuel is purchased. American determines the ineffective portion of its fuel hedge contracts by comparing the cumulative change in the total value of the fuel hedge contract, or group of fuel hedge contracts, to the cumulative change in a hypothetical jet fuel hedge. If the total cumulative change in value of the fuel hedge contract more than offsets the total cumulative change in a hypothetical jet fuel hedge, the difference is considered ineffective and is immediately recognized as a component of aircraft fuel expense. Effective gains or losses on fuel hedging contracts are deferred in accumulated other comprehensive income (loss) (OCI) and are recognized in earnings as a component of aircraft fuel expense when the underlying jet fuel being hedged is used. | ||||||||||
Ineffectiveness is inherent in hedging jet fuel with derivative positions based in crude oil or other crude oil related commodities. American assesses, both at the inception of each hedge and on an ongoing basis, whether the derivatives that are used in its hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. In doing so, American uses a regression model to determine the correlation of the change in prices of the commodities used to hedge jet fuel (e.g., NY Harbor Ultra Low Sulfur Diesel) to the change in the price of jet fuel. American also monitors the actual dollar offset of the hedges’ market values as compared to hypothetical jet fuel hedges. The fuel hedge contracts are generally deemed to be "highly effective" if the R-squared is greater than 80% and the dollar offset correlation is within 80% to 125%. American discontinues hedge accounting prospectively if it determines that a derivative is no longer expected to be highly effective as a hedge or if it decides to discontinue the hedging relationship. Subsequently, any changes in the fair value of these derivatives are marked to market through earnings in the period of change. | ||||||||||
For the three months ended March 31, 2014 and 2013, American recognized net gains/(losses) of approximately $(2) million and $8 million, respectively, as a component of aircraft fuel expense on the accompanying condensed consolidated statements of operations related to its fuel hedging agreements, including the ineffective portion of the hedges. The net fair value of American’s fuel hedging agreements at March 31, 2014 and December 31, 2013, representing the amount American would receive upon termination of the agreements (net of settled contract assets), totaled $48 million and $107 million, respectively. As of March 31, 2014, American estimates that during the next twelve months it will reclassify from OCI into earnings approximately $3 million in net losses (based on prices as of March 31, 2014) related to its fuel derivative hedges. | ||||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on American's condensed consolidated statements of operations is depicted below (in millions): | ||||||||||
Location in condensed consolidated statements of operations | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of gain (loss) reclassified from accumulated OCI into income (1) | Aircraft fuel and related taxes | $ | (7 | ) | $ | 1 | ||||
Amount of gain (loss) recognized in income on derivative (2) | Aircraft fuel and related taxes | 5 | 7 | |||||||
Amount of gain (loss) recognized in condensed consolidated statements of operations (3) | Aircraft fuel and related taxes | $ | (2 | ) | $ | 8 | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
(2) Includes the ineffective portion of hedge gain (loss) | ||||||||||
(3) Includes the effective and ineffective portion of hedge gain (loss) | ||||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on American's condensed consolidated statements of comprehensive income is depicted below (in millions): | ||||||||||
Location | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of (gain) loss reclassified from accumulated OCI into income (1) | Reclassification into earnings | $ | 7 | $ | (1 | ) | ||||
Amount of gain (loss) recognized in OCI on derivative (1) | Change in fair value | (57 | ) | (13 | ) | |||||
Amount of gain (loss) recognized in condensed consolidated statements of comprehensive income | $ | (50 | ) | $ | (14 | ) | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
While certain of American's fuel derivatives are subject to enforceable master netting agreements with its counterparties, American does not offset its fuel derivative assets and liabilities in its condensed consolidated balance sheets. Certain of these agreements would also allow for the offsetting of fuel derivatives with interest rate derivatives. The impact of aircraft fuel derivative instruments (all cash flow hedges) on American's condensed consolidated balance sheets, and the impact of offsetting aircraft fuel derivative instruments, is depicted below (in millions): | ||||||||||
March 31, | December 31, | |||||||||
2014 | 2013 | |||||||||
Gross asset (1) | $ | 50 | $ | 109 | ||||||
Gross liability (2) | — | — | ||||||||
Net recognized asset (liability) in condensed consolidated balance sheet | 50 | 109 | ||||||||
Gross asset (liability) offset in condensed consolidated balance sheet: | ||||||||||
Financial instruments | — | — | ||||||||
Cash collateral received (posted) (3) | — | — | ||||||||
Net amount | $ | 50 | $ | 109 | ||||||
(1) | Fuel derivative assets are included in prepaid expenses and other on the accompanying condensed consolidated balance sheets. | |||||||||
(2) | Fuel derivative liabilities are included in accrued liabilities on the accompanying condensed consolidated balance sheets. | |||||||||
(3) | As of March 31, 2014, American had no posted cash collateral. | |||||||||
American is also exposed to credit losses in the event of non-performance by counterparties to these financial instruments, and although no assurances can be given, American does not expect any of the counterparties to fail to meet their obligations. The credit exposure related to these financial instruments is represented by the fair value of contracts with a positive fair value at the reporting date, reduced by the effects of master netting agreements. To manage credit risks, American selects counterparties based on credit ratings, limits its exposure to a single counterparty under defined guidelines, and monitors the market position of the program and its relative market position with each counterparty. American also maintains industry-standard security agreements with a number of its counterparties which may require American or the counterparty to post collateral if the value of selected instruments exceeds specified mark-to-market thresholds or upon certain changes in credit ratings. The amount of collateral required to be posted from time to time may be substantial. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
The components of accumulated other comprehensive income (loss) are as follows (in millions): | |||||||||||||||||||||
Pension and retiree medical liability | Unrealized gain/(loss) on investments | Derivative financial instruments | Income tax benefit (expense) | Total | |||||||||||||||||
Balance at December 31, 2013 | $ | (887 | ) | $ | (2 | ) | $ | 67 | $ | (1,210 | ) | $ | (2,032 | ) | |||||||
Other comprehensive loss before reclassifications | — | — | (67 | ) | — | (67 | ) | ||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (45 | ) | 2 | 7 | — | (36 | ) | ||||||||||||||
Net current-period other comprehensive income (loss) | (45 | ) | 2 | (60 | ) | — | (103 | ) | |||||||||||||
Balance at March 31, 2014 | $ | (932 | ) | $ | — | $ | 7 | $ | (1,210 | ) | $ | (2,135 | ) | ||||||||
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and 2013 are as follows (in millions): | |||||||||||||||||||||
Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated other comprehensive income (loss) | Affected line item in the statement where net income (loss) is presented | |||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (54 | ) | $ | (54 | ) | Salaries, wages and benefits | ||||||||||||||
Actuarial loss | 9 | 21 | Salaries, wages and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | 7 | (1 | ) | Aircraft fuel and related taxes | |||||||||||||||||
Unrealized gain (loss) on investments: | |||||||||||||||||||||
Net change in value | 2 | — | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (36 | ) | $ | (34 | ) | |||||||||||||||
AA [Member] | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
The components of accumulated other comprehensive income (loss) are as follows (in millions): | |||||||||||||||||||||
Pension and retiree medical liability | Unrealized | Derivative | Income | Total | |||||||||||||||||
gain/(loss) | financial | tax | |||||||||||||||||||
on | instruments | benefit/ | |||||||||||||||||||
investments | (expense) | ||||||||||||||||||||
Balance at December 31, 2013 | $ | (899 | ) | $ | 1 | $ | 65 | $ | (1,319 | ) | $ | (2,152 | ) | ||||||||
Other comprehensive loss before reclassifications | — | — | (67 | ) | — | (67 | ) | ||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (44 | ) | 2 | 7 | — | (35 | ) | ||||||||||||||
Net current-period other comprehensive loss | (44 | ) | 2 | (60 | ) | — | (102 | ) | |||||||||||||
Balance at March 31, 2014 | $ | (943 | ) | $ | 3 | $ | 5 | $ | (1,319 | ) | $ | (2,254 | ) | ||||||||
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and 2013 are as follows (in millions): | |||||||||||||||||||||
Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated other comprehensive income (loss) | Affected line item in the statement where net income (loss) is presented | |||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (53 | ) | $ | (54 | ) | Salaries, wages and benefits | ||||||||||||||
Actuarial loss | 9 | 21 | Salaries, wages and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | 7 | (1 | ) | Aircraft fuel and related taxes | |||||||||||||||||
Unrealized gain (loss) on investments: | |||||||||||||||||||||
Net change in value | 2 | — | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (35 | ) | $ | (34 | ) |
Regional_Expenses
Regional Expenses | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Airline Destination Disclosure [Line Items] | ' | ||||||||
Regional Expenses | ' | ||||||||
Regional Expenses | |||||||||
Expenses associated with the Company's wholly-owned regional airlines and third-party regional carriers operating under the brand names American Eagle and US Airways Express are classified as Regional expenses on the condensed consolidated statements of operations. Regional expenses consist of the following (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Aircraft fuel and related taxes | $ | 500 | $ | 265 | |||||
Salaries, wages and benefits | 265 | 173 | |||||||
Capacity purchases from third-party regional carriers | 347 | 34 | |||||||
Maintenance, materials and repairs | 87 | 70 | |||||||
Other rent and landing fees | 96 | 59 | |||||||
Aircraft rent | 14 | 1 | |||||||
Selling expenses | 72 | 37 | |||||||
Depreciation and amortization | 53 | 42 | |||||||
Special items, net | 4 | 2 | |||||||
Other | 156 | 97 | |||||||
Total regional expenses | $ | 1,594 | $ | 780 | |||||
AA [Member] | ' | ||||||||
Airline Destination Disclosure [Line Items] | ' | ||||||||
Regional Expenses | ' | ||||||||
Regional Expenses | |||||||||
Expenses associated with AAG's wholly-owned regional airline and third-party regional carriers operating under the brand name American Eagle are classified as Regional expenses on the condensed consolidated statements of operations. Regional expenses consist of the following (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Aircraft fuel and related taxes | $ | 252 | $ | 265 | |||||
Salaries, wages and benefits | 5 | 5 | |||||||
Capacity purchases from third-party regional carriers | 296 | 303 | |||||||
Maintenance, materials and repairs | 1 | 1 | |||||||
Other rent and landing fees | 55 | 54 | |||||||
Aircraft rent | 5 | 1 | |||||||
Selling expenses | 36 | 37 | |||||||
Depreciation and amortization | 37 | 37 | |||||||
Special items, net | 1 | — | |||||||
Other | 70 | 63 | |||||||
Total regional expenses | $ | 758 | $ | 766 | |||||
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Related Party Transactions | ' | |||||||
Related Party Transactions | ||||||||
American invests funds, including funds of certain affiliates, if any, in a combined short-term investment portfolio and passes through interest income on such funds at the average rate earned on the portfolio. These amounts are classified as Payable to affiliates on the accompanying condensed consolidated balance sheets. | ||||||||
The following represents the net receivables from (payables to) related parties (in millions): | ||||||||
March 31, | 31-Dec-13 | |||||||
2014 | ||||||||
American Airlines Group | $ | (2,471 | ) | $ | (2,455 | ) | ||
Envoy Aviation Group Inc. (1) | (400 | ) | (394 | ) | ||||
Other American Airlines Group subsidiaries | 28 | 42 | ||||||
$ | (2,843 | ) | $ | (2,807 | ) | |||
(1) | Formerly known as AMR Eagle Holding Corporation, the net payable to AAG's wholly-owned regional airline operating under the brand name of American Eagle consists principally of amounts due under regional capacity purchase agreements. |
Legal_Proceedings
Legal Proceedings | 3 Months Ended |
Mar. 31, 2014 | |
Loss Contingencies [Line Items] | ' |
Legal Proceedings | ' |
Legal Proceedings | |
Chapter 11 Cases. As previously disclosed, on the Petition Date, November 29, 2011, the Debtors filed voluntary petitions for relief under the Bankruptcy Code. On October 21, 2013, the Bankruptcy Court entered the Confirmation Order approving and confirming the Debtors' Plan. On the Effective Date, December 9, 2013, the Debtors consummated their reorganization pursuant to the Plan, principally through the transactions contemplated by the Merger Agreement pursuant to which Merger Sub merged with and into US Airways Group, with US Airways Group surviving as a wholly-owned subsidiary of AAG. From the Petition Date through the Effective Date, pursuant to automatic stay provisions under the Bankruptcy Code and orders granted by the Bankruptcy Court, all actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date as well as all pending litigation against the Debtors generally were stayed. Following the Effective Date, actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date, generally have been permanently enjoined. Any unresolved claims will continue to be subject to the claims reconciliation process under the supervision of the Bankruptcy Court. However, certain pending litigation related to pre-petition liabilities may proceed in courts other than the Bankruptcy Court to the extent the parties to such litigation have obtained relief from the permanent injunction. | |
Pursuant to rulings of the Bankruptcy Court, the Plan has established a disputed claims reserve to hold shares of AAG Series A Preferred Stock and AAG Common Stock reserved for issuance to disputed claimholders that ultimately become allowed Single-Dip general unsecured claimholders after emergence. The shares provided for under the Plan are determined based upon a disputed claims reserve amount of approximately $755 million. As disputed claims are resolved, the claimants will receive distributions of shares from the reserve on the same basis as if such distributions had been made on or about the Effective Date. To the extent that any of the reserved shares remain undistributed upon resolution of the remaining disputed claims, such shares will not be returned to AAG but rather will be distributed by priority first, if necessary, to satisfy unsecured claims or labor-related obligations, and then to former AMR shareholders as of the Effective Date. AAG is not required to distribute additional shares above the limits contemplated by the Plan, even if the shares remaining for distribution are not sufficient to fully pay all allowed unsecured claims. However, resolution of disputed claims could have a material effect on Single-Dip creditor recoveries under the Plan and the amount of additional share distributions, if any, that are made to former AMR shareholders as the total number of shares of AAG Common Stock that remain available for distribution upon resolution of disputed claims is limited pursuant to the Plan. | |
There is also pending in the Bankruptcy Court an adversary proceeding relating to an action brought by American to seek a determination that certain non-pension, post-employee benefits are not vested benefits and thus may be modified or terminated without liability to American. On April 18, 2014, the Bankruptcy Court granted American's motion for summary judgment with respect to certain non-union employees, concluding that their benefits were not vested and could be terminated. The summary judgment motion was denied with respect to all other retirees. The Bankruptcy Court has not yet scheduled a trial on the merits concerning whether those retirees' benefits are vested, and American cannot predict whether it will receive relief from obligations to provide benefits to any of those retirees. The Company's financial statements presently reflect these retirement programs without giving effect to any modification or termination of benefits that may ultimately be implemented based upon the outcome of this proceeding. | |
Government Antitrust Actions. On August 13, 2013, the U.S. government, along with the States of Arizona, Florida, Tennessee and Texas, the Commonwealths of Pennsylvania and Virginia, and the District of Columbia (collectively, the plaintiff states), filed a complaint against US Airways Group and AMR in the U.S. District Court for the District of Columbia. The plaintiffs alleged, among other things, that the proposed Merger would substantially lessen competition in violation of Section 7 of the Clayton Act and sought to permanently enjoin the transaction. On September 5, 2013, the plaintiffs filed an amended complaint, adding the State of Michigan as a plaintiff. On October 1, 2013, the State of Texas entered into an agreement with US Airways Group and AMR that resolved that state’s objections to the Merger, and its claims were dismissed with prejudice on October 7, 2013. On November 11, 2013, US Airways and American entered into agreements with the U.S. government and the plaintiff states resolving all claims in the litigation. The agreement with the U.S. government requires the carriers to divest assets at certain airports and remains subject to public comment and court approval. In the agreement with the United States government, among other things, we agreed to divest and not reacquire for 10 years certain rights and assets consisting of 52 slot pairs at DCA, and 17 slot pairs at LaGuardia Airport, in each case together with associated gates and related ground facilities necessary to operate those slot pairs, and two gates at each of Boston Logan International Airport, Chicago O’Hare International Airport, Dallas Love Field, Los Angeles International Airport and Miami International Airport. The agreement with the plaintiff states, which was entered by the court on November 12, 2013, requires American and US Airways, subject to certain conditions and exceptions, to maintain certain hub operations in a manner generally consistent with historical operations and to continue to provide scheduled daily service to certain specified communities, both for limited periods of time. In addition, the Company entered into a related settlement with the DOT related to small community service from DCA. | |
Merger Class Action. On March 1, 2013, a complaint captioned Plumbers & Steamfitters Local Union No. 248 Pension Fund v. US Airways Group, Inc., et al., No. CV2013-051605, was filed as a putative class action on behalf of the stockholders of US Airways Group in the Superior Court for Maricopa County, Arizona. On July 3, 2013, an amended complaint, captioned Dennis Palkon, et al. v. US Airways Group, Inc., et al., No. CV2013-051605, was filed with the same court. The amended complaint names as defendants US Airways Group and the members of its board of directors, and alleges that the directors failed to maximize the value of US Airways Group in connection with the Merger and that US Airways Group aided and abetted those breaches of fiduciary duty. The relief sought in the amended complaint includes an injunction against the Merger, or rescission in the event it has been consummated. The court in the above-referenced action denied the plaintiff’s motion for a temporary restraining order that had sought to enjoin the US Airways Group Annual Meeting of Stockholders. The above-referenced action was stayed pending the outcome of the antitrust lawsuit filed by the U.S. government and various states on August 13, 2013 (described above). This stay has now been lifted and a motion to dismiss this action filed by US Airways Group is pending before the court. The Company believes this lawsuit is without merit and intends to vigorously defend against the allegations. | |
Private Party Antitrust Action. On July 2, 2013, a lawsuit captioned Carolyn Fjord, et al., v. US Airways Group, Inc., et al., was filed in the United States District Court for the Northern District of California. The complaint names as defendants US Airways Group and US Airways, and alleges that the effect of the Merger may be to substantially lessen competition or tend to create a monopoly in violation of Section 7 of the Clayton Antitrust Act. The relief sought in the complaint includes an injunction against the Merger, or divestiture. On August 6, 2013, the plaintiffs re-filed their complaint in the Bankruptcy Court, adding AMR and American as defendants, and on October 2, 2013, dismissed the initial California action. The Bankruptcy Court denied plaintiffs’ motion to preliminarily enjoin the Merger. On January 10, 2014, the plaintiffs moved to amend their complaint to add additional factual allegations, a claim for money damages and a request for preliminary injunctive relief requiring the carriers to hold separate their assets. On March 14, 2014, the Court allowed plaintiffs to add certain allegations but denied plaintiffs' requests to add a damages claim or seek preliminary injunctive relief requiring the carriers to hold separate their assets. There is currently no trial date set. The Company believes this lawsuit is without merit and intends to vigorously defend against the allegations. | |
US Airways Sabre Matter. On April 21, 2011, US Airways filed an antitrust lawsuit against Sabre Holdings Corporation, Sabre Inc. and Sabre Travel International Limited (collectively, Sabre) in Federal District Court for the Southern District of New York. The lawsuit, as amended to date, alleges, among other things, that Sabre has engaged in anticompetitive practices to preserve its market power by restricting the Company's ability to distribute its products to its customers. The lawsuit also alleges that these actions have permitted Sabre to charge supracompetitive booking fees and to use technologies that are not as robust and as efficient as alternatives in a competitive market. The lawsuit seeks both injunctive relief and money damages. Sabre filed a motion to dismiss the case, which the court denied in part and granted in part in September 2011, allowing two of the four counts in the complaint to proceed. On April 1, 2014, Sabre filed motions for summary judgment that are pending before the court. The Company intends to pursue its claims against Sabre vigorously, but there can be no assurance of the outcome of this litigation. | |
General. The Company and its subsidiaries are also engaged in other legal proceedings from time to time. Legal proceedings can be complex and take many months, or even years, to reach resolution, with the final outcome depending on a number of variables, some of which are not within the control of the Company. Therefore, although the Company will vigorously defend itself in each of the actions described above and such other legal proceedings, their ultimate resolution and potential financial and other impacts on the Company are uncertain. | |
AA [Member] | ' |
Loss Contingencies [Line Items] | ' |
Legal Proceedings | ' |
Legal Proceedings | |
Chapter 11 Cases. As previously disclosed, on the Petition Date, November 29, 2011, the Debtors filed voluntary petitions for relief under the Bankruptcy Code. On October 21, 2013, the Bankruptcy Court entered the Confirmation Order approving and confirming the Debtors' Plan. On the Effective Date, December 9, 2013, the Debtors consummated their reorganization pursuant to the Plan, principally through the transactions contemplated by the Merger Agreement pursuant to which Merger Sub merged with and into US Airways Group, with US Airways Group surviving as a wholly-owned subsidiary of AAG. From the Petition Date through the Effective Date, pursuant to automatic stay provisions under the Bankruptcy Code and orders granted by the Bankruptcy Court, all actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date as well as all pending litigation against the Debtors generally were stayed. Following the Effective Date, actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date, generally have been permanently enjoined. Any unresolved claims will continue to be subject to the claims reconciliation process under the supervision of the Bankruptcy Court. However, certain pending litigation related to pre-petition liabilities may proceed in courts other than the Bankruptcy Court to the extent the parties to such litigation have obtained relief from the permanent injunction. | |
Pursuant to rulings of the Bankruptcy Court, the Plan has established a disputed claims reserve to hold shares of AAG Series A Preferred Stock and AAG Common Stock reserved for issuance to disputed claimholders that ultimately become allowed Single-Dip general unsecured claimholders after emergence. The shares provided for under the Plan are determined based upon a disputed claims reserve amount of approximately $755 million. As disputed claims are resolved, the claimants will receive distributions of shares from the reserve on the same basis as if such distributions had been made on or about the Effective Date. To the extent that any of the reserved shares remain undistributed upon resolution of the remaining disputed claims, such shares will not be returned to AAG but rather will be distributed by priority first, if necessary, to satisfy unsecured claims or labor-related obligations, and then to former AMR shareholders as of the Effective Date. AAG is not required to distribute additional shares above the limits contemplated by the Plan, even if the shares remaining for distribution are not sufficient to fully pay all allowed unsecured claims. However, resolution of disputed claims could have a material effect on Single-Dip creditor recoveries under the Plan and the amount of additional share distributions, if any, that are made to former AMR shareholders as the total number of shares of AAG Common Stock that remain available for distribution upon resolution of disputed claims is limited pursuant to the Plan. | |
There is also pending in the Bankruptcy Court an adversary proceeding relating to an action brought by American to seek a determination that certain non-pension, post-employee benefits are not vested benefits and thus may be modified or terminated without liability to American. On April 18, 2014, the Bankruptcy Court granted American's motion for summary judgment with respect to certain non-union employees, concluding that their benefits were not vested and could be terminated. The summary judgment motion was denied with respect to all other retirees. The Bankruptcy Court has not yet scheduled a trial on the merits concerning whether those retirees' benefits are vested, and American cannot predict whether it will receive relief from obligations to provide benefits to any of those retirees. American's financial statements presently reflect these retirement programs without giving effect to any modification or termination of benefits that may ultimately be implemented based upon the outcome of this proceeding. | |
Government Antitrust Actions. On August 13, 2013, the U.S. government, along with the States of Arizona, Florida, Tennessee and Texas, the Commonwealths of Pennsylvania and Virginia, and the District of Columbia (collectively, the plaintiff states), filed a complaint against US Airways Group and AMR in the U.S. District Court for the District of Columbia. The plaintiffs alleged, among other things, that the proposed Merger would substantially lessen competition in violation of Section 7 of the Clayton Act and sought to permanently enjoin the transaction. On September 5, 2013, the plaintiffs filed an amended complaint, adding the State of Michigan as a plaintiff. On October 1, 2013, the State of Texas entered into an agreement with US Airways Group and AMR that resolved that state’s objections to the Merger, and its claims were dismissed with prejudice on October 7, 2013. On November 11, 2013, US Airways and American entered into agreements with the U.S. government and the plaintiff states resolving all claims in the litigation. The agreement with the U.S. government requires the carriers to divest assets at certain airports and remains subject to public comment and court approval. In the agreement with the United States government, among other things, we agreed to divest and not reacquire for 10 years certain rights and assets consisting of 52 slot pairs at DCA, and 17 slot pairs at LaGuardia Airport, in each case together with associated gates and related ground facilities necessary to operate those slot pairs, and two gates at each of Boston Logan International Airport, Chicago O’Hare International Airport, Dallas Love Field, Los Angeles International Airport and Miami International Airport. The agreement with the plaintiff states, which was entered by the court on November 12, 2013, requires American and US Airways, subject to certain conditions and exceptions, to maintain certain hub operations in a manner generally consistent with historical operations and to continue to provide scheduled daily service to certain specified communities, both for limited periods of time. In addition, US Airways and American entered into a related settlement with the DOT related to small community service from DCA. | |
Merger Class Action. On March 1, 2013, a complaint captioned Plumbers & Steamfitters Local Union No. 248 Pension Fund v. US Airways Group, Inc., et al., No. CV2013-051605, was filed as a putative class action on behalf of the stockholders of US Airways Group in the Superior Court for Maricopa County, Arizona. On July 3, 2013, an amended complaint, captioned Dennis Palkon, et al. v. US Airways Group, Inc., et al., No. CV2013-051605, was filed with the same court. The amended complaint names as defendants US Airways Group and the members of its board of directors, and alleges that the directors failed to maximize the value of US Airways Group in connection with the Merger and that US Airways Group aided and abetted those breaches of fiduciary duty. The relief sought in the amended complaint includes an injunction against the Merger, or rescission in the event it has been consummated. The court in the above-referenced action denied the plaintiff’s motion for a temporary restraining order that had sought to enjoin the US Airways Group Annual Meeting of Stockholders. The above-referenced action was stayed pending the outcome of the antitrust lawsuit filed by the U.S. government and various states on August 13, 2013 (described above). This stay has now been lifted and a motion to dismiss this action filed by US Airways Group is pending before the court. American believes this lawsuit is without merit and intends to vigorously defend against the allegations. | |
Private Party Antitrust Action. On July 2, 2013, a lawsuit captioned Carolyn Fjord, et al., v. US Airways Group, Inc., et al., was filed in the United States District Court for the Northern District of California. The complaint names as defendants US Airways Group and US Airways, and alleges that the effect of the Merger may be to substantially lessen competition or tend to create a monopoly in violation of Section 7 of the Clayton Antitrust Act. The relief sought in the complaint includes an injunction against the Merger, or divestiture. On August 6, 2013, the plaintiffs re-filed their complaint in the Bankruptcy Court, adding AMR and American as defendants, and on October 2, 2013, dismissed the initial California action. The Bankruptcy Court denied plaintiffs’ motion to preliminarily enjoin the Merger. On January 10, 2014, the plaintiffs moved to amend their complaint to add additional factual allegations, a claim for money damages and a request for preliminary injunctive relief requiring the carriers to hold separate their assets. On March 14, 2014, the Court allowed plaintiffs to add certain allegations but denied plaintiffs' requests to add a damages claim or seek preliminary injunctive relief requiring the carriers to hold separate their assets. There is currently no trial date set. American believes this lawsuit is without merit and intends to vigorously defend against the allegations. | |
General. American is also engaged in other legal proceedings from time to time. Legal proceedings can be complex and take many months, or even years, to reach resolution, with the final outcome depending on a number of variables, some of which are not within the control of American. Therefore, although American will vigorously defend itself in each of the actions described above and such other legal proceedings, their ultimate resolution and potential financial and other impacts on American are uncertain. |
Financial_Information_for_Subs
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||||||
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries | ' | ||||||||||||||||||||||||||||
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries | |||||||||||||||||||||||||||||
There are various cross-guarantees among the Company, American, US Airways Group and US Airways with respect to publicly held debt securities. In connection with the Merger, the Company and American entered into a second supplemental indenture under which they jointly and severally guaranteed the payment of obligations associated with US Airways Group's 6.125% senior notes. The Company also entered into a second supplemental indenture under which the Company guaranteed the payment of obligations of US Airways Group's 7.25% convertible notes and which also provides for the conversion of the 7.25% convertible notes into AAG Common Stock rather than into US Airways Group common stock. In addition, in March 2014, the Company, US Airways Group and US Airways entered into amended and restated guarantees of the payment obligations of US Airways under the equipment notes relating to each of its Series 2010-1, 2011-1, 2012-1, 2012-2 and 2013-1 Pass Through Certificates the result of which was to add AAG as a guarantor of such equipment notes on a joint and several basis with US Airways Group. | |||||||||||||||||||||||||||||
In connection with the issuance of these guarantees, in accordance with Rule 3-10 of Regulation S-X and Rule 12h-5 under the Securities Exchange Act of 1934, as amended, US Airways Group and US Airways discontinued filing separate periodic and current reports with the SEC. As a result, in accordance with Rule 3-10, the Company is required to present the following condensed consolidating financial information for the periods after Merger close for American Airlines Group Parent, American, US Airways Group Parent, US Airways and all other non-guarantor subsidiaries, together with the consolidating adjustments necessary to present the Company’s results on a consolidated basis. | |||||||||||||||||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
Operating revenues | |||||||||||||||||||||||||||||
Mainline passenger | $ | — | $ | 4,906 | $ | — | $ | 2,352 | $ | — | $ | — | $ | 7,258 | |||||||||||||||
Regional passenger | — | 669 | — | 738 | — | — | 1,407 | ||||||||||||||||||||||
Cargo | — | 168 | — | 38 | — | — | 206 | ||||||||||||||||||||||
Other | — | 726 | — | 418 | 744 | (764 | ) | 1,124 | |||||||||||||||||||||
Total operating revenues | — | 6,469 | — | 3,546 | 744 | (764 | ) | 9,995 | |||||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||||||
Aircraft fuel and related taxes | — | 1,871 | — | 840 | — | — | 2,711 | ||||||||||||||||||||||
Salaries, wages and benefits | — | 1,398 | — | 719 | 197 | (195 | ) | 2,119 | |||||||||||||||||||||
Regional expenses | — | 758 | — | 828 | — | 8 | 1,594 | ||||||||||||||||||||||
Maintenance, materials and repairs | — | 332 | — | 153 | 85 | (85 | ) | 485 | |||||||||||||||||||||
Other rent and landing fees | — | 285 | — | 139 | 7 | (7 | ) | 424 | |||||||||||||||||||||
Aircraft rent | — | 216 | — | 104 | 21 | (21 | ) | 320 | |||||||||||||||||||||
Selling expenses | — | 284 | — | 117 | — | — | 401 | ||||||||||||||||||||||
Depreciation and amortization | — | 214 | — | 95 | 10 | (12 | ) | 307 | |||||||||||||||||||||
Special items, net | 24 | (216 | ) | — | 55 | 3 | (3 | ) | (137 | ) | |||||||||||||||||||
Other | 2 | 749 | — | 308 | 431 | (449 | ) | 1,041 | |||||||||||||||||||||
Total operating expenses | 26 | 5,891 | — | 3,358 | 754 | (764 | ) | 9,265 | |||||||||||||||||||||
Operating income (loss) | (26 | ) | 578 | — | 188 | (10 | ) | — | 730 | ||||||||||||||||||||
Nonoperating income (expense) | |||||||||||||||||||||||||||||
Interest income | 2 | 7 | — | 1 | 1 | (4 | ) | 7 | |||||||||||||||||||||
Interest expense, net | (4 | ) | (168 | ) | (10 | ) | (65 | ) | — | 4 | (243 | ) | |||||||||||||||||
Equity in earnings of subsidiaries | 453 | — | 118 | — | — | (571 | ) | — | |||||||||||||||||||||
Other, net | — | (5 | ) | (56 | ) | 3 | 1 | 56 | (1 | ) | |||||||||||||||||||
Total nonoperating income (expense), net | 451 | (166 | ) | 52 | (61 | ) | 2 | (515 | ) | (237 | ) | ||||||||||||||||||
Income (loss) before income taxes | 425 | 412 | 52 | 127 | (8 | ) | (515 | ) | 493 | ||||||||||||||||||||
Income tax provision | 1 | 11 | — | 1 | — | — | 13 | ||||||||||||||||||||||
Net income (loss) | $ | 424 | $ | 401 | $ | 52 | $ | 126 | $ | (8 | ) | $ | (515 | ) | $ | 480 | |||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
Net income (loss) | $ | 424 | $ | 401 | $ | 52 | $ | 126 | $ | (8 | ) | $ | (515 | ) | $ | 480 | |||||||||||||
Other comprehensive loss before tax: | |||||||||||||||||||||||||||||
Defined benefit pension plans and retiree medical: | |||||||||||||||||||||||||||||
Amortization of actuarial gain and prior service cost | — | (44 | ) | — | (1 | ) | — | — | (45 | ) | |||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||||||||||
Change in fair value | — | (67 | ) | — | — | — | — | (67 | ) | ||||||||||||||||||||
Reclassification into earnings | — | 7 | — | — | — | — | 7 | ||||||||||||||||||||||
Unrealized gain (loss) on investments: | |||||||||||||||||||||||||||||
Net change in value | — | 2 | — | — | — | — | 2 | ||||||||||||||||||||||
Other comprehensive loss before tax | — | (102 | ) | — | (1 | ) | — | — | (103 | ) | |||||||||||||||||||
Non-cash tax provision | — | — | — | — | — | — | — | ||||||||||||||||||||||
Comprehensive income (loss) | $ | 424 | $ | 299 | $ | 52 | $ | 125 | $ | (8 | ) | $ | (515 | ) | $ | 377 | |||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
(In millions)(unaudited) | |||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 983 | $ | 1 | $ | 269 | $ | 5 | $ | — | $ | 1,259 | |||||||||||||||
Short-term investments | — | 4,979 | — | 3,423 | 3 | — | 8,405 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 699 | — | 248 | — | — | 947 | ||||||||||||||||||||||
Accounts receivable, net | (7 | ) | 1,521 | — | 473 | 21 | — | 2,008 | |||||||||||||||||||||
Receivables from related parties,net | 2,474 | — | 155 | 444 | 499 | (3,572 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 664 | — | 330 | 58 | — | 1,052 | ||||||||||||||||||||||
Prepaid expenses and other | — | 606 | — | 989 | 22 | (95 | ) | 1,522 | |||||||||||||||||||||
Total current assets | 2,468 | 9,452 | 156 | 6,176 | 608 | (3,667 | ) | 15,193 | |||||||||||||||||||||
Operating property and equipment | — | 13,928 | — | 5,736 | 280 | — | 19,944 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investment in subsidiaries | — | — | 5,461 | — | — | (5,461 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,089 | — | — | 4,089 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 844 | — | 1,475 | — | — | 2,319 | ||||||||||||||||||||||
Other assets | 42 | 2,016 | — | 136 | 32 | (34 | ) | 2,192 | |||||||||||||||||||||
Total other assets | 42 | 2,860 | 5,461 | 5,700 | 32 | (5,495 | ) | 8,600 | |||||||||||||||||||||
Total assets | $ | 2,510 | $ | 26,240 | $ | 5,617 | $ | 17,612 | $ | 920 | $ | (9,162 | ) | $ | 43,737 | ||||||||||||||
LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 951 | $ | 22 | $ | 468 | $ | — | $ | — | $ | 1,441 | |||||||||||||||
Accounts payable | — | 1,230 | — | 374 | 42 | — | 1,646 | ||||||||||||||||||||||
Payables to related parties, net | — | 2,843 | 421 | 84 | 224 | (3,572 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 3,808 | — | 1,878 | — | — | 5,686 | ||||||||||||||||||||||
Frequent flyer liability | — | 1,761 | — | 1,190 | — | — | 2,951 | ||||||||||||||||||||||
Other accrued liabilities | (12 | ) | 1,972 | 168 | 1,076 | 151 | — | 3,355 | |||||||||||||||||||||
Total current liabilities | (12 | ) | 12,565 | 611 | 5,070 | 417 | (3,572 | ) | 15,079 | ||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 7 | 9,590 | 523 | 5,158 | — | (34 | ) | 15,244 | |||||||||||||||||||||
Pensions and postretirement benefits | — | 5,631 | — | 108 | 27 | — | 5,766 | ||||||||||||||||||||||
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 74 | 2,242 | — | — | 6 | — | 2,322 | ||||||||||||||||||||||
Negative investment in subsidiaries | 1,345 | — | — | — | — | (1,345 | ) | — | |||||||||||||||||||||
Other liabilities | 1 | 2,453 | — | 1,861 | 272 | (356 | ) | 4,231 | |||||||||||||||||||||
Total noncurrent liabilities | 1,427 | 19,916 | 523 | 7,127 | 305 | (1,735 | ) | 27,563 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 6 | — | — | — | — | — | 6 | ||||||||||||||||||||||
Additional paid-in capital | 14,040 | 8,481 | 4,629 | 5,468 | 192 | (18,770 | ) | 14,040 | |||||||||||||||||||||
Accumulated other comprehensive income (loss) | (2,135 | ) | (2,254 | ) | 11 | 11 | — | 2,232 | (2,135 | ) | |||||||||||||||||||
Retained earnings (deficit) | (10,816 | ) | (12,468 | ) | (157 | ) | (64 | ) | 6 | 12,683 | (10,816 | ) | |||||||||||||||||
Total stockholders’ equity (deficit) | 1,095 | (6,241 | ) | 4,483 | 5,415 | 198 | (3,855 | ) | 1,095 | ||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 2,510 | $ | 26,240 | $ | 5,617 | $ | 17,612 | $ | 920 | $ | (9,162 | ) | $ | 43,737 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
(In millions)(unaudited) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 829 | $ | 1 | $ | 303 | $ | 6 | $ | — | $ | 1,140 | |||||||||||||||
Short-term investments | — | 5,162 | — | 2,947 | 2 | — | 8,111 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 702 | — | 333 | — | — | 1,035 | ||||||||||||||||||||||
Accounts receivable, net | — | 1,186 | — | 357 | 17 | — | 1,560 | ||||||||||||||||||||||
Receivables from related parties, net | 2,468 | — | 144 | 407 | 459 | (3,478 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 620 | — | 296 | 96 | — | 1,012 | ||||||||||||||||||||||
Prepaid expenses and other | — | 702 | — | 857 | 20 | (114 | ) | 1,465 | |||||||||||||||||||||
Total current assets | 2,469 | 9,201 | 145 | 5,500 | 600 | (3,592 | ) | 14,323 | |||||||||||||||||||||
Operating property and equipment | — | 13,469 | — | 5,506 | 284 | — | 19,259 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investment in subsidiaries | — | — | 5,317 | — | — | (5,317 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,086 | — | — | 4,086 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 812 | — | 1,496 | 3 | — | 2,311 | ||||||||||||||||||||||
Other assets | 42 | 2,130 | — | 131 | 30 | (34 | ) | 2,299 | |||||||||||||||||||||
Total other assets | 42 | 2,942 | 5,317 | 5,713 | 33 | (5,351 | ) | 8,696 | |||||||||||||||||||||
Total assets | $ | 2,511 | $ | 25,612 | $ | 5,462 | $ | 16,719 | $ | 917 | $ | (8,943 | ) | $ | 42,278 | ||||||||||||||
LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 957 | $ | 22 | $ | 467 | $ | — | $ | — | $ | 1,446 | |||||||||||||||
Accounts payable | — | 1,013 | — | 304 | 51 | — | 1,368 | ||||||||||||||||||||||
Payables to related parties, net | — | 2,807 | 408 | 50 | 213 | (3,478 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 3,145 | — | 1,235 | — | — | 4,380 | ||||||||||||||||||||||
Frequent flyer liability | — | 1,760 | — | 1,245 | — | — | 3,005 | ||||||||||||||||||||||
Other accrued liabilities | (9 | ) | 2,237 | 103 | 1,137 | 139 | — | 3,607 | |||||||||||||||||||||
Total current liabilities | (9 | ) | 11,919 | 533 | 4,438 | 403 | (3,478 | ) | 13,806 | ||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 7 | 9,852 | 523 | 5,005 | — | (34 | ) | 15,353 | |||||||||||||||||||||
Pensions and postretirement benefits | — | 5,693 | — | 109 | 26 | — | 5,828 | ||||||||||||||||||||||
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 435 | 5,424 | — | — | 69 | — | 5,928 | ||||||||||||||||||||||
Negative investment in subsidiaries | 4,808 | — | — | — | — | (4,808 | ) | — | |||||||||||||||||||||
Other liabilities | 1 | 2,384 | — | 1,905 | 277 | (473 | ) | 4,094 | |||||||||||||||||||||
Total noncurrent liabilities | 5,251 | 23,353 | 523 | 7,019 | 372 | (5,315 | ) | 31,203 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 5 | — | — | — | — | — | 5 | ||||||||||||||||||||||
Additional paid-in capital | 10,592 | 5,361 | 4,602 | 5,441 | 126 | (15,530 | ) | 10,592 | |||||||||||||||||||||
Accumulated other comprehensive income (loss) | (2,032 | ) | (2,152 | ) | 12 | 12 | — | 2,128 | (2,032 | ) | |||||||||||||||||||
Retained earnings (deficit) | (11,296 | ) | (12,869 | ) | (208 | ) | (191 | ) | 16 | 13,252 | (11,296 | ) | |||||||||||||||||
Total stockholders’ equity (deficit) | (2,731 | ) | (9,660 | ) | 4,406 | 5,262 | 142 | (150 | ) | (2,731 | ) | ||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 2,511 | $ | 25,612 | $ | 5,462 | $ | 16,719 | $ | 917 | $ | (8,943 | ) | $ | 42,278 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
(unaudited)(In millions) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | (9 | ) | $ | 742 | $ | — | $ | 515 | $ | 8 | $ | — | $ | 1,256 | ||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||
Capital expenditures and aircraft purchase deposits | — | (722 | ) | — | (316 | ) | (9 | ) | — | (1,047 | ) | ||||||||||||||||||
Decrease (increase) in investments | — | 183 | — | (477 | ) | — | — | (294 | ) | ||||||||||||||||||||
Decrease in restricted cash and short-term investments | — | 3 | — | 85 | — | — | 88 | ||||||||||||||||||||||
Net proceeds from slot transaction | — | 299 | — | 8 | — | — | 307 | ||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 3 | — | — | — | — | 3 | ||||||||||||||||||||||
Net cash used in investing activities | — | (234 | ) | — | (700 | ) | (9 | ) | — | (943 | ) | ||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||
Payments on long-term debt and capital leases | — | (430 | ) | — | (71 | ) | — | — | (501 | ) | |||||||||||||||||||
Proceeds from issuance of long-term debt | — | — | — | 224 | — | — | 224 | ||||||||||||||||||||||
Payments of employee withholding taxes on net share issuances | (84 | ) | — | — | — | — | — | (84 | ) | ||||||||||||||||||||
Funds transferred from (to) affiliates | 84 | (84 | ) | — | — | — | — | — | |||||||||||||||||||||
Exercise of stock options | 9 | — | — | — | — | — | 9 | ||||||||||||||||||||||
Deferred financing costs | — | (5 | ) | — | (2 | ) | — | — | (7 | ) | |||||||||||||||||||
Sale-leaseback transactions | — | 165 | — | — | — | — | 165 | ||||||||||||||||||||||
Net cash provided by (used in) financing activities | 9 | (354 | ) | — | 151 | — | — | (194 | ) | ||||||||||||||||||||
Net increase (decrease) in cash | — | 154 | — | (34 | ) | (1 | ) | — | 119 | ||||||||||||||||||||
Cash at beginning of period | 1 | 829 | 1 | 303 | 6 | — | 1,140 | ||||||||||||||||||||||
Cash at end of period | $ | 1 | $ | 983 | $ | 1 | $ | 269 | $ | 5 | $ | — | $ | 1,259 | |||||||||||||||
Subsequent_Events
Subsequent Events | 3 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Subsequent Events [Abstract] | ' | ||||||||||
Subsequent Events | ' | ||||||||||
Subsequent Events | |||||||||||
Conversions of shares of AAG Series A Preferred Stock into shares of AAG Common Stock subsequent to the reporting date consisted of the remaining optional and mandatory conversions through April 8, 2014. These conversions are presented in the table below (in thousands): | |||||||||||
Conversion date | Conversion type | Shares converted | Increase (decrease) in AAG preferred shares outstanding | Increase (decrease) in AAG common shares outstanding | |||||||
April 1, 2014 | Optional | 30 | -30 | 23 | |||||||
April 2, 2014 | Optional | 294 | -294 | 222 | |||||||
April 8, 2014 | Mandatory | 17,230 | -17,230 | 13,007 | |||||||
17,554 | -17,554 | 13,252 | |||||||||
On April 8, 2014, the Company satisfied all of the AAG Series A Preferred Stock obligations, the Single-Dip equity obligations and the majority of the labor related deemed claim. After the April 8, 2014 distribution date, the Company had an obligation recorded related to the accrued Disputed Claims Reserve of approximately $335 million, which includes an amount expected to be issued to labor assuming the fully accrued Disputed Claims Reserve is allowed by the court and distributed. Allowed claims will receive 30.7553 shares, subject to reduction for expenses of the Disputed Claims Reserve, including tax liabilities, for each $1,000 of allowed claims. Accordingly, increases in the trading price of AAG Common Stock after March 31, 2014 could cause an increase in the value of the Disputed Claims Reserve, and vice-versa. | |||||||||||
Shares distributed as of April 8, 2014, in settlement of the Company's bankruptcy settlement obligations, are presented in the table below (in thousands): | |||||||||||
Conversion date | Preferred conversion | Single-dip distribution | Labor distribution | Legacy AAMRQ holders | Increase in AAG Common Shares outstanding | ||||||
8-Apr-14 | 13,252 | 48,219 | 8,902 | 72,383 | 142,756 |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Line Items] | ' |
Basis of Presentation - Consolidation | ' |
The accompanying unaudited condensed consolidated financial statements of AAG should be read in conjunction with the consolidated financial statements contained in AAG's Annual Report on Form 10-K for the year ended December 31, 2013. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Principal subsidiaries include American and, effective December 9, 2013, US Airways Group. Because the Merger did not occur until December 2013, the unaudited condensed consolidated financial statements presented do not include the accounts of US Airways Group for the three months ended March 31, 2013. Certain prior period amounts have been reclassified to conform to the current year financial statement presentation as described below. All significant intercompany transactions have been eliminated. | |
Management believes that all adjustments necessary for the fair presentation of results, consisting of normally recurring items, have been included in the unaudited condensed consolidated financial statements for the interim periods presented. The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The most significant areas of judgment relate to passenger revenue recognition, impairment of goodwill, impairment of long-lived and intangible assets, the frequent traveler programs, pensions and retiree medical and other benefits and the deferred tax asset valuation allowance. | |
Chapter 11 Matters | ' |
Chapter 11 Matters | |
In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Debtors (as defined in Note 2 below) applied ASC 852 "Reorganizations" (ASC 852) in preparing the condensed consolidated financial statements for periods subsequent to the Chapter 11 Cases (as defined in Note 2 below). ASC 852 requires that the financial statements distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred in the Chapter 11 Cases for the 2013 period are recorded in Reorganization items, net on the accompanying unaudited condensed consolidated statement of operations. | |
AA [Member] | ' |
Accounting Policies [Line Items] | ' |
Chapter 11 Matters | ' |
Chapter 11 Matters | |
In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Debtors (as defined in Note 2 below) applied ASC 852 "Reorganizations" (ASC 852) in preparing the condensed consolidated financial statements for periods subsequent to the Chapter 11 Cases (as defined in Note 2 below). ASC 852 requires that the financial statements distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred in the Chapter 11 Cases for the 2013 period are recorded in Reorganization items, net on the accompanying condensed consolidated statement of operations. |
Basis_of_Presentation_Tables
Basis of Presentation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Accounting Policies [Line Items] | ' | ||||||||
Summary of Reclassifications Between Financial Statement Line Items to Conform to New Financial Statement Presentation | ' | ||||||||
The following table summarizes the historical and revised financial statement amounts for AAG (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2013 | |||||||||
As Reclassified | Historical | ||||||||
Operating revenues: | |||||||||
Mainline passenger | $ | 4,614 | $ | 4,614 | |||||
Regional passenger | 679 | 679 | |||||||
Cargo | 156 | 155 | |||||||
Other | 649 | 650 | |||||||
Total operating revenues | 6,098 | 6,098 | |||||||
Operating expenses: | |||||||||
Aircraft fuel and related taxes | 1,934 | 2,200 | |||||||
Salaries, wages and benefits | 1,267 | 1,484 | |||||||
Regional expenses | 780 | — | |||||||
Maintenance, materials and repairs | 326 | 383 | |||||||
Other rent and landing fees | 288 | 346 | |||||||
Aircraft rent | 165 | 164 | |||||||
Selling expenses | 290 | 276 | |||||||
Depreciation and amortization | 204 | 246 | |||||||
Special items, net | 71 | 28 | |||||||
Other | 702 | 919 | |||||||
Total operating expenses | 6,027 | 6,046 | |||||||
Operating income | 71 | 52 | |||||||
Nonoperating income (expense): | |||||||||
Interest income | 4 | 4 | |||||||
Interest expense, net of capitalized interest | (254 | ) | (250 | ) | |||||
Other, net | (24 | ) | (9 | ) | |||||
Total nonoperating expense, net | $ | (274 | ) | $ | (255 | ) | |||
AA [Member] | ' | ||||||||
Accounting Policies [Line Items] | ' | ||||||||
Summary of Reclassifications Between Financial Statement Line Items to Conform to New Financial Statement Presentation | ' | ||||||||
The following table summarizes the historical and revised financial statement amounts for American (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2013 | |||||||||
As Reclassified | Historical | ||||||||
Operating revenues: | |||||||||
Mainline passenger | $ | 4,614 | $ | 4,614 | |||||
Regional passenger | 679 | 679 | |||||||
Cargo | 156 | 155 | |||||||
Other | 636 | 637 | |||||||
Total operating revenues | 6,085 | 6,085 | |||||||
Operating expenses: | |||||||||
Aircraft fuel and related taxes | 1,934 | 2,199 | |||||||
Salaries, wages and benefits | 1,264 | 1,312 | |||||||
Regional expenses | 766 | 269 | |||||||
Maintenance, materials and repairs | 326 | 318 | |||||||
Other rent and landing fees | 287 | 342 | |||||||
Aircraft rent | 165 | 164 | |||||||
Selling expenses | 290 | 276 | |||||||
Depreciation and amortization | 204 | 241 | |||||||
Special items, net | 71 | 28 | |||||||
Other | 712 | 889 | |||||||
Total operating expenses | 6,019 | 6,038 | |||||||
Operating income | 66 | 47 | |||||||
Nonoperating income (expense): | |||||||||
Interest income | 4 | 4 | |||||||
Interest expense, net of capitalized interest | (169 | ) | (165 | ) | |||||
Other, net | (24 | ) | (9 | ) | |||||
Total nonoperating expense, net | $ | (189 | ) | $ | (170 | ) |
Emergence_From_Chapter_11_and_1
Emergence From Chapter 11 and Merger with US Airways Group (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Reorganization [Line Items] | ' | ||||
Schedule of Reorganization Items | ' | ||||
The following table summarizes the components included in reorganization items, net on the condensed consolidated statements of operations for the three months ended March 31, 2013 (in millions): | |||||
Aircraft and facility financing renegotiations and rejections (1), (2) | $ | 136 | |||
Professional fees | 39 | ||||
Other | (15 | ) | |||
Total reorganization items, net | $ | 160 | |||
(1) | Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to (i) the rejection or modification of financings related to aircraft and (ii) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the Bankruptcy Court to reject or modify such financing and the Debtors believed that it was probable the motion would be approved, and there was sufficient information to estimate the claim. | ||||
(2) | Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the three months ended March 31, 2013, the Company recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $127 million, which are included in the table above. | ||||
AA [Member] | ' | ||||
Reorganization [Line Items] | ' | ||||
Schedule of Reorganization Items | ' | ||||
The following table summarizes the components included in reorganization items, net on the condensed consolidated statements of operations for the three months ended March 31, 2013 (in millions): | |||||
Aircraft and facility financing renegotiations and rejections (1), (2) | $ | 136 | |||
Professional fees | 39 | ||||
Other | (15 | ) | |||
Total reorganization items, net | $ | 160 | |||
(1) | Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to (i) the rejection or modification of financings related to aircraft and (ii) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the Bankruptcy Court to reject or modify such financing and the Debtors believed that it was probable the motion would be approved, and there was sufficient information to estimate the claim. | ||||
(2) | Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the three months ended March 31, 2013, American recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $127 million, which are included in the table above. |
Mandatorily_Convertible_Prefer1
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Class of Stock [Line Items] | ' | ||||||||
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations | ' | ||||||||
The components of Mandatorily convertible preferred stock and other bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): | |||||||||
31-Mar-14 | 31-Dec-13 | ||||||||
AAG Series A Preferred Stock | $ | 589 | $ | 3,833 | |||||
Single-Dip equity obligations | 1,259 | 1,246 | |||||||
Labor-related deemed claim | 474 | 849 | |||||||
Total | $ | 2,322 | $ | 5,928 | |||||
AA [Member] | ' | ||||||||
Class of Stock [Line Items] | ' | ||||||||
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations | ' | ||||||||
The components of Bankruptcy settlement obligations on American's condensed consolidated balance sheets are as follows (in millions) and reflect those included in AAG's consolidated financial statements. The settlement of these claims through the issuance of AAG common stock will result in an increase in additional paid-in capital for American. | |||||||||
31-Mar-14 | 31-Dec-13 | ||||||||
Single-Dip and Double-Dip equity obligations | 1,768 | 4,575 | |||||||
Labor-related deemed claim | 474 | 849 | |||||||
Total | $ | 2,242 | $ | 5,424 | |||||
Special_Items_Tables
Special Items (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Restructuring Cost and Reserve [Line Items] | ' | ||||||||
Components Of Company's Special Charges | ' | ||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Regional operating special items, net | $ | 4 | $ | 2 | |||||
Nonoperating special items, net (b) | 47 | 116 | |||||||
Reorganization items, net (c) | — | 160 | |||||||
Income tax special items, net (d) | 8 | — | |||||||
(b) | The 2014 first quarter nonoperating special items of $47 million were principally due to non-cash interest accretion of $31 million on the bankruptcy settlement obligations. | ||||||||
The 2013 first quarter nonoperating special items consisted of interest charges to recognize post-petition interest expense on unsecured obligations pursuant to the Plan. | |||||||||
(c) | In the 2013 first quarter, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | ||||||||
(d) | The 2014 first quarter included a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. | ||||||||
Special items, net on the condensed consolidated statements of operations is as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Mainline operating special items, net (a) | $ | (137 | ) | $ | 71 | ||||
(a) | The 2014 first quarter mainline operating special items totaled a net credit of $137 million, which principally included a $309 million gain on the sale of slots at DCA and a net $32 million credit for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $142 million of cash merger integration expenses including amounts related to the pilot memorandum of understanding, information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as $60 million of non-cash compensation expense for merger equity awards. | ||||||||
AA [Member] | ' | ||||||||
Restructuring Cost and Reserve [Line Items] | ' | ||||||||
Components Of Company's Special Charges | ' | ||||||||
Special items, net on the condensed consolidated statements of operations is as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Mainline operating special items, net (a) | $ | (216 | ) | $ | 71 | ||||
(a) | The 2014 first quarter mainline operating special items totaled a net credit of $216 million, which principally included a $305 million gain on the sale of slots at DCA and a net $56 million credit for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $91 million of cash merger integration expenses including amounts related to the pilot memorandum of understanding, information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as $43 million of non-cash compensation expense for merger equity awards. | ||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Regional operating special items, net | $ | 1 | $ | — | |||||
Nonoperating special items, net (b) | 44 | 27 | |||||||
Reorganization items, net (c) | — | 160 | |||||||
Income tax special items, net (d) | 7 | — | |||||||
(b) | The 2014 first quarter nonoperating special items of $44 million were principally due to non-cash interest accretion of $27 million on the bankruptcy settlement obligations. | ||||||||
The 2013 first quarter nonoperating special items consisted of interest charges to recognize post-petition interest expense on unsecured obligations pursuant to the Plan. | |||||||||
(c) | In the 2013 first quarter, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | ||||||||
(d) | The 2014 first quarter included a special $7 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Computations Of Basic And Diluted Earnings (Loss) Per Share | ' | |||||||
The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except share and per share amounts in thousands): | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
Basic EPS: | ||||||||
Net income (loss) | $ | 480 | $ | (341 | ) | |||
Weighted-average common shares outstanding (in thousands) | 723,971 | 249,491 | ||||||
Basic EPS | $ | 0.66 | $ | (1.37 | ) | |||
Diluted EPS: | ||||||||
Net income (loss) | $ | 480 | $ | (341 | ) | |||
Change in fair value of conversion feature on 7.25% convertible senior notes (a) | 5 | — | ||||||
Net income (loss) for purposes of computing diluted EPS | $ | 485 | $ | (341 | ) | |||
Share computation for diluted EPS (in thousands): | ||||||||
Weighted-average shares outstanding | 723,971 | 249,491 | ||||||
Dilutive effect of stock awards | 13,534 | — | ||||||
Assumed conversion of 7.25% convertible senior notes (a) | 3,830 | — | ||||||
Weighted average common shares outstanding - as adjusted | 741,335 | 249,491 | ||||||
Diluted EPS | $ | 0.65 | $ | (1.37 | ) | |||
The following were excluded from the computation of diluted EPS (in thousands): | ||||||||
Stock options, SARs and RSUs because inclusion would be antidilutive | 33 | 20,010 | ||||||
Convertible notes because inclusion would be antidilutive | — | 34,581 | ||||||
(a) | In March 2014, the Company notified the holders of US Airways Group's 7.25% convertible senior notes that it has elected to settle all future conversions solely in cash instead of shares of AAG Common Stock in accordance with the related indenture. Thus, the diluted shares include the weighted average impact of the 7.25% convertible senior notes only for the period from January 1, 2014 to March 12, 2014. In addition, under GAAP, the Company must adjust the numerator for purposes of calculating diluted earnings per share by the change in fair value of the conversion feature from March 12, 2014 to March 31, 2014, which increased GAAP net income for purposes of computing diluted earnings per share by $5 million. |
Debt_Tables
Debt (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Instrument [Line Items] | ' | |||||||
Components Of Long-Term Debt | ' | |||||||
Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): | ||||||||
March 31, | 31-Dec-13 | |||||||
2014 | ||||||||
Secured | ||||||||
American | ||||||||
Secured indebtedness, fixed and variable interest rates ranging from 1.43% to 8.10%, maturing from 2014 to 2023 | $ | 1,966 | $ | 2,140 | ||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 4.00% to 7.00%, maturing from 2017 to 2025 | 3,415 | 3,516 | ||||||
Special facility revenue bonds, fixed interest rates ranging from 7.125% to 8.50%, maturing from 2016 to 2031 | 1,313 | 1,313 | ||||||
7.50% senior secured notes, interest only payments until due in 2016 | 900 | 1,000 | ||||||
Senior secured credit facility, variable interest rate of 3.75%, installments through 2019 | 1,886 | 1,891 | ||||||
AAdvantage Miles advance purchase, effective rate of 8.30%, installments through 2017 | 568 | 611 | ||||||
Other secured obligations, fixed interest rates ranging from 5.20% to 12.20%, maturing from 2014 to 2035 | 532 | 380 | ||||||
Total American secured debt | 10,580 | 10,851 | ||||||
US Airways Group | ||||||||
2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 | 1,000 | 1,000 | ||||||
2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 | 600 | 600 | ||||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.95% to 11.00%, maturing from 2014 to 2025 | 2,703 | 2,515 | ||||||
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.55% to 8.48%, maturing from 2015 to 2029 | 1,297 | 1,330 | ||||||
Other secured obligations, fixed interest rates ranging from 5.20% to 8.00%, maturing from 2015 to 2028 | 46 | 47 | ||||||
Total US Airways Group secured debt | 5,646 | 5,492 | ||||||
Total AAG secured debt | 16,226 | 16,343 | ||||||
Unsecured | ||||||||
US Airways Group | ||||||||
6.125% senior notes, interest only payments until due in 2018 | 500 | 500 | ||||||
7.25% convertible senior notes, interest only payments until due in 2014 | 22 | 22 | ||||||
Industrial development bonds, fixed interest rate of 6.30%, interest only payments until due in 2023 | 29 | 29 | ||||||
Total US Airways Group unsecured debt | 551 | 551 | ||||||
Total AAG unsecured debt | 551 | 551 | ||||||
Total long-term debt and capital lease obligations | 16,777 | 16,894 | ||||||
Less: total unamortized debt discount | 92 | 95 | ||||||
Less: current maturities | 1,441 | 1,446 | ||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 15,244 | $ | 15,353 | ||||
AA [Member] | ' | |||||||
Debt Instrument [Line Items] | ' | |||||||
Components Of Long-Term Debt | ' | |||||||
Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): | ||||||||
March 31, | 31-Dec-13 | |||||||
2014 | ||||||||
Secured | ||||||||
Secured indebtedness, fixed and variable interest rates ranging from 1.43% to 8.10%, maturing from 2014 to 2023 | $ | 1,966 | $ | 2,140 | ||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 4.00% to 7.00%, maturing from 2017 to 2025 | 3,415 | 3,516 | ||||||
Special facility revenue bonds, fixed interest rates ranging from 7.125% to 8.50%, maturing from 2016 to 2031 | 1,313 | 1,313 | ||||||
7.50% senior secured notes, interest only payments until due in 2016 | 900 | 1,000 | ||||||
Senior secured credit facility, variable interest rate of 3.75%, installments through 2019 | 1,886 | 1,891 | ||||||
AAdvantage Miles advance purchase, effective rate of 8.30%, installments through 2017 | 568 | 611 | ||||||
Other secured obligations, fixed interest rates ranging from 5.20% to 12.20%, maturing from 2014 to 2035 | 532 | 380 | ||||||
10,580 | 10,851 | |||||||
Unsecured | ||||||||
Affiliate unsecured obligations | 27 | 27 | ||||||
27 | 27 | |||||||
Total long-term debt and capital lease obligations | 10,607 | 10,878 | ||||||
Less: total unamortized debt discount | 66 | 69 | ||||||
Less: current maturities | 951 | 957 | ||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 9,590 | $ | 9,852 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ||||||||||||||||
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): | |||||||||||||||||
Fair Value Measurements as of March 31, 2014 | |||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Short-term investments (1), (2) | |||||||||||||||||
Money market funds | $ | 3,596 | $ | 3,596 | $ | — | $ | — | |||||||||
Government agency investments | 941 | — | 941 | — | |||||||||||||
Repurchase agreements | 99 | — | 99 | — | |||||||||||||
Corporate obligations | 3,064 | — | 3,064 | — | |||||||||||||
Bank notes / Certificates of deposit / Time deposits | 705 | — | 705 | — | |||||||||||||
8,405 | 3,596 | 4,809 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 947 | 891 | 56 | — | |||||||||||||
Fuel derivative contracts, net (1) | 50 | — | 50 | — | |||||||||||||
Total | $ | 9,402 | $ | 4,487 | $ | 4,915 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments, restricted cash and short-term investments, and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date. | ||||||||||||||||
(2) | The Company's short-term investments mature in one year or less except $441 million of U.S. government agency investments and $2.1 billion of corporate obligations. | ||||||||||||||||
Investment | ' | ||||||||||||||||
The carrying value and estimated fair values of the Company’s long-term debt, including current maturities, were (in millions): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 16,685 | $ | 17,494 | $ | 16,799 | $ | 17,035 | |||||||||
AA [Member] | ' | ||||||||||||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ||||||||||||||||
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): | |||||||||||||||||
Fair Value Measurements as of March 31, 2014 | |||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Short-term investments (1), (2) | |||||||||||||||||
Money market funds | $ | 171 | $ | 171 | $ | — | $ | — | |||||||||
Government agency investments | 941 | — | 941 | — | |||||||||||||
Repurchase agreements | 99 | — | 99 | — | |||||||||||||
Corporate obligations | 3,064 | — | 3,064 | — | |||||||||||||
Bank notes / Certificates of deposit / Time deposits | 704 | — | 704 | — | |||||||||||||
4,979 | 171 | 4,808 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 699 | 643 | 56 | — | |||||||||||||
Fuel derivative contracts, net (1) | 50 | — | 50 | — | |||||||||||||
Total | $ | 5,728 | $ | 814 | $ | 4,914 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments, restricted cash and short-term investments, and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date. | ||||||||||||||||
(2) | American's short-term investments mature in one year or less except for $441 million of U.S. government agency investments and $2.1 billion of corporate obligations. | ||||||||||||||||
Investment | ' | ||||||||||||||||
The carrying value and estimated fair values of American’s long-term debt, including current maturities, were (in millions): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 10,541 | $ | 11,032 | $ | 10,809 | $ | 11,045 | |||||||||
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||
Schedule of Net Benefit Costs | ' | ||||||||||||||||
The following table provides the components of net periodic benefit cost for the three months ended March 31, 2014 and 2013 (in millions): | |||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Components of net periodic benefit cost: | |||||||||||||||||
Service cost | $ | — | $ | 1 | $ | — | $ | — | |||||||||
Interest cost | 186 | 163 | 15 | 13 | |||||||||||||
Expected return on assets | (196 | ) | (180 | ) | (5 | ) | (4 | ) | |||||||||
Settlements | 2 | — | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost | 7 | 7 | (61 | ) | (61 | ) | |||||||||||
Unrecognized net loss (gain) | 11 | 23 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 10 | $ | 14 | $ | (53 | ) | $ | (54 | ) | |||||||
AA [Member] | ' | ||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ||||||||||||||||
Schedule of Net Benefit Costs | ' | ||||||||||||||||
The following table provides the components of net periodic benefit cost for the three months ended March 31, 2014 and 2013 (in millions): | |||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Components of net periodic benefit cost: | |||||||||||||||||
Service cost | $ | — | $ | 1 | $ | — | $ | — | |||||||||
Interest cost | 185 | 163 | 14 | 13 | |||||||||||||
Expected return on assets | (195 | ) | (180 | ) | (5 | ) | (4 | ) | |||||||||
Settlements | 2 | — | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost | 7 | 7 | (60 | ) | (61 | ) | |||||||||||
Unrecognized net loss (gain) | 11 | 23 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 10 | $ | 14 | $ | (53 | ) | $ | (54 | ) | |||||||
Financial_Instruments_And_Risk1
Financial Instruments And Risk Management (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Derivative [Line Items] | ' | |||||||||
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | ' | |||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on the Company’s condensed consolidated statements of operations is depicted below (in millions): | ||||||||||
Location in condensed consolidated statements of operations | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of gain (loss) reclassified from accumulated OCI into income (1) | Aircraft fuel and related taxes | $ | (7 | ) | $ | 1 | ||||
Amount of gain (loss) recognized in income on derivative (2) | Aircraft fuel and related taxes | 5 | 7 | |||||||
Amount of gain (loss) recognized in condensed consolidated statements of operations (3) | Aircraft fuel and related taxes | $ | (2 | ) | $ | 8 | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
(2) Includes the ineffective portion of hedge gain (loss) | ||||||||||
(3) Includes the effective and ineffective portion of hedge gain (loss) | ||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | ' | |||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on the Company’s condensed consolidated statements of comprehensive income (loss) is depicted below (in millions): | ||||||||||
Location | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of (gain) loss reclassified from accumulated OCI into income (1) | Reclassification into earnings | $ | 7 | $ | (1 | ) | ||||
Amount of gain (loss) recognized in OCI on derivative (1) | Change in fair value | (57 | ) | (13 | ) | |||||
Amount of gain (loss) recognized in condensed consolidated statements of comprehensive income | $ | (50 | ) | $ | (14 | ) | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
Derivatives Offsetting Disclosures | ' | |||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on the Company's condensed consolidated balance sheets, and the impact of offsetting aircraft fuel derivative instruments, is depicted below (in millions): | ||||||||||
March 31, | December 31, | |||||||||
2014 | 2013 | |||||||||
Gross asset (1) | $ | 50 | $ | 109 | ||||||
Gross liability (2) | — | — | ||||||||
Net recognized asset (liability) in condensed consolidated balance sheet | 50 | 109 | ||||||||
Gross asset (liability) offset in condensed consolidated balance sheet: | ||||||||||
Financial instruments | — | — | ||||||||
Cash collateral received (posted) (3) | — | — | ||||||||
Net amount | $ | 50 | $ | 109 | ||||||
(1) | Fuel derivative assets are included in prepaid expenses and other on the accompanying condensed consolidated balance sheets. | |||||||||
(2) | Fuel derivative liabilities are included in accrued liabilities on the accompanying condensed consolidated balance sheets. | |||||||||
(3) | As of March 31, 2014, the Company had no posted cash collateral. | |||||||||
AA [Member] | ' | |||||||||
Derivative [Line Items] | ' | |||||||||
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | ' | |||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on American's condensed consolidated statements of operations is depicted below (in millions): | ||||||||||
Location in condensed consolidated statements of operations | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of gain (loss) reclassified from accumulated OCI into income (1) | Aircraft fuel and related taxes | $ | (7 | ) | $ | 1 | ||||
Amount of gain (loss) recognized in income on derivative (2) | Aircraft fuel and related taxes | 5 | 7 | |||||||
Amount of gain (loss) recognized in condensed consolidated statements of operations (3) | Aircraft fuel and related taxes | $ | (2 | ) | $ | 8 | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
(2) Includes the ineffective portion of hedge gain (loss) | ||||||||||
(3) Includes the effective and ineffective portion of hedge gain (loss) | ||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | ' | |||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on American's condensed consolidated statements of comprehensive income is depicted below (in millions): | ||||||||||
Location | Three Months Ended March 31, | |||||||||
2014 | 2013 | |||||||||
Amount of (gain) loss reclassified from accumulated OCI into income (1) | Reclassification into earnings | $ | 7 | $ | (1 | ) | ||||
Amount of gain (loss) recognized in OCI on derivative (1) | Change in fair value | (57 | ) | (13 | ) | |||||
Amount of gain (loss) recognized in condensed consolidated statements of comprehensive income | $ | (50 | ) | $ | (14 | ) | ||||
(1) Includes the effective portion of hedge gain (loss) | ||||||||||
Derivatives Offsetting Disclosures | ' | |||||||||
The impact of aircraft fuel derivative instruments (all cash flow hedges) on American's condensed consolidated balance sheets, and the impact of offsetting aircraft fuel derivative instruments, is depicted below (in millions): | ||||||||||
March 31, | December 31, | |||||||||
2014 | 2013 | |||||||||
Gross asset (1) | $ | 50 | $ | 109 | ||||||
Gross liability (2) | — | — | ||||||||
Net recognized asset (liability) in condensed consolidated balance sheet | 50 | 109 | ||||||||
Gross asset (liability) offset in condensed consolidated balance sheet: | ||||||||||
Financial instruments | — | — | ||||||||
Cash collateral received (posted) (3) | — | — | ||||||||
Net amount | $ | 50 | $ | 109 | ||||||
(1) | Fuel derivative assets are included in prepaid expenses and other on the accompanying condensed consolidated balance sheets. | |||||||||
(2) | Fuel derivative liabilities are included in accrued liabilities on the accompanying condensed consolidated balance sheets. | |||||||||
(3) | As of March 31, 2014, American had no posted cash collateral. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ||||||||||||||||||||
Components Of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
The components of accumulated other comprehensive income (loss) are as follows (in millions): | |||||||||||||||||||||
Pension and retiree medical liability | Unrealized gain/(loss) on investments | Derivative financial instruments | Income tax benefit (expense) | Total | |||||||||||||||||
Balance at December 31, 2013 | $ | (887 | ) | $ | (2 | ) | $ | 67 | $ | (1,210 | ) | $ | (2,032 | ) | |||||||
Other comprehensive loss before reclassifications | — | — | (67 | ) | — | (67 | ) | ||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (45 | ) | 2 | 7 | — | (36 | ) | ||||||||||||||
Net current-period other comprehensive income (loss) | (45 | ) | 2 | (60 | ) | — | (103 | ) | |||||||||||||
Balance at March 31, 2014 | $ | (932 | ) | $ | — | $ | 7 | $ | (1,210 | ) | $ | (2,135 | ) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and 2013 are as follows (in millions): | |||||||||||||||||||||
Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated other comprehensive income (loss) | Affected line item in the statement where net income (loss) is presented | |||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (54 | ) | $ | (54 | ) | Salaries, wages and benefits | ||||||||||||||
Actuarial loss | 9 | 21 | Salaries, wages and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | 7 | (1 | ) | Aircraft fuel and related taxes | |||||||||||||||||
Unrealized gain (loss) on investments: | |||||||||||||||||||||
Net change in value | 2 | — | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (36 | ) | $ | (34 | ) | |||||||||||||||
AA [Member] | ' | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ||||||||||||||||||||
Components Of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
The components of accumulated other comprehensive income (loss) are as follows (in millions): | |||||||||||||||||||||
Pension and retiree medical liability | Unrealized | Derivative | Income | Total | |||||||||||||||||
gain/(loss) | financial | tax | |||||||||||||||||||
on | instruments | benefit/ | |||||||||||||||||||
investments | (expense) | ||||||||||||||||||||
Balance at December 31, 2013 | $ | (899 | ) | $ | 1 | $ | 65 | $ | (1,319 | ) | $ | (2,152 | ) | ||||||||
Other comprehensive loss before reclassifications | — | — | (67 | ) | — | (67 | ) | ||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (44 | ) | 2 | 7 | — | (35 | ) | ||||||||||||||
Net current-period other comprehensive loss | (44 | ) | 2 | (60 | ) | — | (102 | ) | |||||||||||||
Balance at March 31, 2014 | $ | (943 | ) | $ | 3 | $ | 5 | $ | (1,319 | ) | $ | (2,254 | ) | ||||||||
Reclassification out of Accumulated Other Comprehensive Income | ' | ||||||||||||||||||||
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and 2013 are as follows (in millions): | |||||||||||||||||||||
Details about accumulated other comprehensive income (loss) components | Amount reclassified from accumulated other comprehensive income (loss) | Affected line item in the statement where net income (loss) is presented | |||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (53 | ) | $ | (54 | ) | Salaries, wages and benefits | ||||||||||||||
Actuarial loss | 9 | 21 | Salaries, wages and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | 7 | (1 | ) | Aircraft fuel and related taxes | |||||||||||||||||
Unrealized gain (loss) on investments: | |||||||||||||||||||||
Net change in value | 2 | — | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (35 | ) | $ | (34 | ) |
Regional_Expenses_Tables
Regional Expenses (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Airline Destination Disclosure [Line Items] | ' | ||||||||
Regional Expenses | ' | ||||||||
Regional expenses consist of the following (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Aircraft fuel and related taxes | $ | 500 | $ | 265 | |||||
Salaries, wages and benefits | 265 | 173 | |||||||
Capacity purchases from third-party regional carriers | 347 | 34 | |||||||
Maintenance, materials and repairs | 87 | 70 | |||||||
Other rent and landing fees | 96 | 59 | |||||||
Aircraft rent | 14 | 1 | |||||||
Selling expenses | 72 | 37 | |||||||
Depreciation and amortization | 53 | 42 | |||||||
Special items, net | 4 | 2 | |||||||
Other | 156 | 97 | |||||||
Total regional expenses | $ | 1,594 | $ | 780 | |||||
AA [Member] | ' | ||||||||
Airline Destination Disclosure [Line Items] | ' | ||||||||
Regional Expenses | ' | ||||||||
Expenses associated with AAG's wholly-owned regional airline and third-party regional carriers operating under the brand name American Eagle are classified as Regional expenses on the condensed consolidated statements of operations. Regional expenses consist of the following (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2014 | 2013 | ||||||||
Aircraft fuel and related taxes | $ | 252 | $ | 265 | |||||
Salaries, wages and benefits | 5 | 5 | |||||||
Capacity purchases from third-party regional carriers | 296 | 303 | |||||||
Maintenance, materials and repairs | 1 | 1 | |||||||
Other rent and landing fees | 55 | 54 | |||||||
Aircraft rent | 5 | 1 | |||||||
Selling expenses | 36 | 37 | |||||||
Depreciation and amortization | 37 | 37 | |||||||
Special items, net | 1 | — | |||||||
Other | 70 | 63 | |||||||
Total regional expenses | $ | 758 | $ | 766 | |||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Related Party Transactions [Abstract] | ' | |||||||
Schedule of Related Party Transactions | ' | |||||||
The following represents the net receivables from (payables to) related parties (in millions): | ||||||||
March 31, | 31-Dec-13 | |||||||
2014 | ||||||||
American Airlines Group | $ | (2,471 | ) | $ | (2,455 | ) | ||
Envoy Aviation Group Inc. (1) | (400 | ) | (394 | ) | ||||
Other American Airlines Group subsidiaries | 28 | 42 | ||||||
$ | (2,843 | ) | $ | (2,807 | ) |
Financial_Information_for_Subs1
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ' | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
Operating revenues | |||||||||||||||||||||||||||||
Mainline passenger | $ | — | $ | 4,906 | $ | — | $ | 2,352 | $ | — | $ | — | $ | 7,258 | |||||||||||||||
Regional passenger | — | 669 | — | 738 | — | — | 1,407 | ||||||||||||||||||||||
Cargo | — | 168 | — | 38 | — | — | 206 | ||||||||||||||||||||||
Other | — | 726 | — | 418 | 744 | (764 | ) | 1,124 | |||||||||||||||||||||
Total operating revenues | — | 6,469 | — | 3,546 | 744 | (764 | ) | 9,995 | |||||||||||||||||||||
Operating expenses | |||||||||||||||||||||||||||||
Aircraft fuel and related taxes | — | 1,871 | — | 840 | — | — | 2,711 | ||||||||||||||||||||||
Salaries, wages and benefits | — | 1,398 | — | 719 | 197 | (195 | ) | 2,119 | |||||||||||||||||||||
Regional expenses | — | 758 | — | 828 | — | 8 | 1,594 | ||||||||||||||||||||||
Maintenance, materials and repairs | — | 332 | — | 153 | 85 | (85 | ) | 485 | |||||||||||||||||||||
Other rent and landing fees | — | 285 | — | 139 | 7 | (7 | ) | 424 | |||||||||||||||||||||
Aircraft rent | — | 216 | — | 104 | 21 | (21 | ) | 320 | |||||||||||||||||||||
Selling expenses | — | 284 | — | 117 | — | — | 401 | ||||||||||||||||||||||
Depreciation and amortization | — | 214 | — | 95 | 10 | (12 | ) | 307 | |||||||||||||||||||||
Special items, net | 24 | (216 | ) | — | 55 | 3 | (3 | ) | (137 | ) | |||||||||||||||||||
Other | 2 | 749 | — | 308 | 431 | (449 | ) | 1,041 | |||||||||||||||||||||
Total operating expenses | 26 | 5,891 | — | 3,358 | 754 | (764 | ) | 9,265 | |||||||||||||||||||||
Operating income (loss) | (26 | ) | 578 | — | 188 | (10 | ) | — | 730 | ||||||||||||||||||||
Nonoperating income (expense) | |||||||||||||||||||||||||||||
Interest income | 2 | 7 | — | 1 | 1 | (4 | ) | 7 | |||||||||||||||||||||
Interest expense, net | (4 | ) | (168 | ) | (10 | ) | (65 | ) | — | 4 | (243 | ) | |||||||||||||||||
Equity in earnings of subsidiaries | 453 | — | 118 | — | — | (571 | ) | — | |||||||||||||||||||||
Other, net | — | (5 | ) | (56 | ) | 3 | 1 | 56 | (1 | ) | |||||||||||||||||||
Total nonoperating income (expense), net | 451 | (166 | ) | 52 | (61 | ) | 2 | (515 | ) | (237 | ) | ||||||||||||||||||
Income (loss) before income taxes | 425 | 412 | 52 | 127 | (8 | ) | (515 | ) | 493 | ||||||||||||||||||||
Income tax provision | 1 | 11 | — | 1 | — | — | 13 | ||||||||||||||||||||||
Net income (loss) | $ | 424 | $ | 401 | $ | 52 | $ | 126 | $ | (8 | ) | $ | (515 | ) | $ | 480 | |||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ' | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
Net income (loss) | $ | 424 | $ | 401 | $ | 52 | $ | 126 | $ | (8 | ) | $ | (515 | ) | $ | 480 | |||||||||||||
Other comprehensive loss before tax: | |||||||||||||||||||||||||||||
Defined benefit pension plans and retiree medical: | |||||||||||||||||||||||||||||
Amortization of actuarial gain and prior service cost | — | (44 | ) | — | (1 | ) | — | — | (45 | ) | |||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||||||||||
Change in fair value | — | (67 | ) | — | — | — | — | (67 | ) | ||||||||||||||||||||
Reclassification into earnings | — | 7 | — | — | — | — | 7 | ||||||||||||||||||||||
Unrealized gain (loss) on investments: | |||||||||||||||||||||||||||||
Net change in value | — | 2 | — | — | — | — | 2 | ||||||||||||||||||||||
Other comprehensive loss before tax | — | (102 | ) | — | (1 | ) | — | — | (103 | ) | |||||||||||||||||||
Non-cash tax provision | — | — | — | — | — | — | — | ||||||||||||||||||||||
Comprehensive income (loss) | $ | 424 | $ | 299 | $ | 52 | $ | 125 | $ | (8 | ) | $ | (515 | ) | $ | 377 | |||||||||||||
Condensed Consolidating Balance Sheet | ' | ||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 983 | $ | 1 | $ | 269 | $ | 5 | $ | — | $ | 1,259 | |||||||||||||||
Short-term investments | — | 4,979 | — | 3,423 | 3 | — | 8,405 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 699 | — | 248 | — | — | 947 | ||||||||||||||||||||||
Accounts receivable, net | (7 | ) | 1,521 | — | 473 | 21 | — | 2,008 | |||||||||||||||||||||
Receivables from related parties,net | 2,474 | — | 155 | 444 | 499 | (3,572 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 664 | — | 330 | 58 | — | 1,052 | ||||||||||||||||||||||
Prepaid expenses and other | — | 606 | — | 989 | 22 | (95 | ) | 1,522 | |||||||||||||||||||||
Total current assets | 2,468 | 9,452 | 156 | 6,176 | 608 | (3,667 | ) | 15,193 | |||||||||||||||||||||
Operating property and equipment | — | 13,928 | — | 5,736 | 280 | — | 19,944 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investment in subsidiaries | — | — | 5,461 | — | — | (5,461 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,089 | — | — | 4,089 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 844 | — | 1,475 | — | — | 2,319 | ||||||||||||||||||||||
Other assets | 42 | 2,016 | — | 136 | 32 | (34 | ) | 2,192 | |||||||||||||||||||||
Total other assets | 42 | 2,860 | 5,461 | 5,700 | 32 | (5,495 | ) | 8,600 | |||||||||||||||||||||
Total assets | $ | 2,510 | $ | 26,240 | $ | 5,617 | $ | 17,612 | $ | 920 | $ | (9,162 | ) | $ | 43,737 | ||||||||||||||
LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 951 | $ | 22 | $ | 468 | $ | — | $ | — | $ | 1,441 | |||||||||||||||
Accounts payable | — | 1,230 | — | 374 | 42 | — | 1,646 | ||||||||||||||||||||||
Payables to related parties, net | — | 2,843 | 421 | 84 | 224 | (3,572 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 3,808 | — | 1,878 | — | — | 5,686 | ||||||||||||||||||||||
Frequent flyer liability | — | 1,761 | — | 1,190 | — | — | 2,951 | ||||||||||||||||||||||
Other accrued liabilities | (12 | ) | 1,972 | 168 | 1,076 | 151 | — | 3,355 | |||||||||||||||||||||
Total current liabilities | (12 | ) | 12,565 | 611 | 5,070 | 417 | (3,572 | ) | 15,079 | ||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 7 | 9,590 | 523 | 5,158 | — | (34 | ) | 15,244 | |||||||||||||||||||||
Pensions and postretirement benefits | — | 5,631 | — | 108 | 27 | — | 5,766 | ||||||||||||||||||||||
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 74 | 2,242 | — | — | 6 | — | 2,322 | ||||||||||||||||||||||
Negative investment in subsidiaries | 1,345 | — | — | — | — | (1,345 | ) | — | |||||||||||||||||||||
Other liabilities | 1 | 2,453 | — | 1,861 | 272 | (356 | ) | 4,231 | |||||||||||||||||||||
Total noncurrent liabilities | 1,427 | 19,916 | 523 | 7,127 | 305 | (1,735 | ) | 27,563 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 6 | — | — | — | — | — | 6 | ||||||||||||||||||||||
Additional paid-in capital | 14,040 | 8,481 | 4,629 | 5,468 | 192 | (18,770 | ) | 14,040 | |||||||||||||||||||||
Accumulated other comprehensive income (loss) | (2,135 | ) | (2,254 | ) | 11 | 11 | — | 2,232 | (2,135 | ) | |||||||||||||||||||
Retained earnings (deficit) | (10,816 | ) | (12,468 | ) | (157 | ) | (64 | ) | 6 | 12,683 | (10,816 | ) | |||||||||||||||||
Total stockholders’ equity (deficit) | 1,095 | (6,241 | ) | 4,483 | 5,415 | 198 | (3,855 | ) | 1,095 | ||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 2,510 | $ | 26,240 | $ | 5,617 | $ | 17,612 | $ | 920 | $ | (9,162 | ) | $ | 43,737 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
(In millions)(unaudited) | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
American Airlines Group (Parent Company Only) | American | US Airways Group (Parent Company Only) | US Airways | Non-Guarantor Subsidiaries | Eliminations and Reclassifications | American Airlines Group Inc. Consolidated | |||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 829 | $ | 1 | $ | 303 | $ | 6 | $ | — | $ | 1,140 | |||||||||||||||
Short-term investments | — | 5,162 | — | 2,947 | 2 | — | 8,111 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 702 | — | 333 | — | — | 1,035 | ||||||||||||||||||||||
Accounts receivable, net | — | 1,186 | — | 357 | 17 | — | 1,560 | ||||||||||||||||||||||
Receivables from related parties, net | 2,468 | — | 144 | 407 | 459 | (3,478 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 620 | — | 296 | 96 | — | 1,012 | ||||||||||||||||||||||
Prepaid expenses and other | — | 702 | — | 857 | 20 | (114 | ) | 1,465 | |||||||||||||||||||||
Total current assets | 2,469 | 9,201 | 145 | 5,500 | 600 | (3,592 | ) | 14,323 | |||||||||||||||||||||
Operating property and equipment | — | 13,469 | — | 5,506 | 284 | — | 19,259 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investment in subsidiaries | — | — | 5,317 | — | — | (5,317 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,086 | — | — | 4,086 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 812 | — | 1,496 | 3 | — | 2,311 | ||||||||||||||||||||||
Other assets | 42 | 2,130 | — | 131 | 30 | (34 | ) | 2,299 | |||||||||||||||||||||
Total other assets | 42 | 2,942 | 5,317 | 5,713 | 33 | (5,351 | ) | 8,696 | |||||||||||||||||||||
Total assets | $ | 2,511 | $ | 25,612 | $ | 5,462 | $ | 16,719 | $ | 917 | $ | (8,943 | ) | $ | 42,278 | ||||||||||||||
LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 957 | $ | 22 | $ | 467 | $ | — | $ | — | $ | 1,446 | |||||||||||||||
Accounts payable | — | 1,013 | — | 304 | 51 | — | 1,368 | ||||||||||||||||||||||
Payables to related parties, net | — | 2,807 | 408 | 50 | 213 | (3,478 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 3,145 | — | 1,235 | — | — | 4,380 | ||||||||||||||||||||||
Frequent flyer liability | — | 1,760 | — | 1,245 | — | — | 3,005 | ||||||||||||||||||||||
Other accrued liabilities | (9 | ) | 2,237 | 103 | 1,137 | 139 | — | 3,607 | |||||||||||||||||||||
Total current liabilities | (9 | ) | 11,919 | 533 | 4,438 | 403 | (3,478 | ) | 13,806 | ||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 7 | 9,852 | 523 | 5,005 | — | (34 | ) | 15,353 | |||||||||||||||||||||
Pensions and postretirement benefits | — | 5,693 | — | 109 | 26 | — | 5,828 | ||||||||||||||||||||||
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 435 | 5,424 | — | — | 69 | — | 5,928 | ||||||||||||||||||||||
Negative investment in subsidiaries | 4,808 | — | — | — | — | (4,808 | ) | — | |||||||||||||||||||||
Other liabilities | 1 | 2,384 | — | 1,905 | 277 | (473 | ) | 4,094 | |||||||||||||||||||||
Total noncurrent liabilities | 5,251 | 23,353 | 523 | 7,019 | 372 | (5,315 | ) | 31,203 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 5 | — | — | — | — | — | 5 | ||||||||||||||||||||||
Additional paid-in capital | 10,592 | 5,361 | 4,602 | 5,441 | 126 | (15,530 | ) | 10,592 | |||||||||||||||||||||
Accumulated other comprehensive income (loss) | (2,032 | ) | (2,152 | ) | 12 | 12 | — | 2,128 | (2,032 | ) | |||||||||||||||||||
Retained earnings (deficit) | (11,296 | ) | (12,869 | ) | (208 | ) | (191 | ) | 16 | 13,252 | (11,296 | ) | |||||||||||||||||
Total stockholders’ equity (deficit) | (2,731 | ) | (9,660 | ) | 4,406 | 5,262 | 142 | (150 | ) | (2,731 | ) | ||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 2,511 | $ | 25,612 | $ | 5,462 | $ | 16,719 | $ | 917 | $ | (8,943 | ) | $ | 42,278 | ||||||||||||||
Subsequent_Events_Tables
Subsequent Events (Tables) | 3 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Subsequent Events [Abstract] | ' | ||||||||||
Schedule of Conversions of Stock | ' | ||||||||||
Conversions of shares of AAG Series A Preferred Stock into shares of AAG Common Stock subsequent to the reporting date consisted of the remaining optional and mandatory conversions through April 8, 2014. These conversions are presented in the table below (in thousands): | |||||||||||
Conversion date | Conversion type | Shares converted | Increase (decrease) in AAG preferred shares outstanding | Increase (decrease) in AAG common shares outstanding | |||||||
April 1, 2014 | Optional | 30 | -30 | 23 | |||||||
April 2, 2014 | Optional | 294 | -294 | 222 | |||||||
April 8, 2014 | Mandatory | 17,230 | -17,230 | 13,007 | |||||||
17,554 | -17,554 | 13,252 | |||||||||
Shares distributed as of April 8, 2014, in settlement of the Company's bankruptcy settlement obligations, are presented in the table below (in thousands): | |||||||||||
Conversion date | Preferred conversion | Single-dip distribution | Labor distribution | Legacy AAMRQ holders | Increase in AAG Common Shares outstanding | ||||||
8-Apr-14 | 13,252 | 48,219 | 8,902 | 72,383 | 142,756 |
Basis_of_Presentation_Reclassi
Basis of Presentation (Reclassification) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating revenues | ' | ' |
Mainline passenger | $7,258 | $4,614 |
Regional passenger | 1,407 | 679 |
Cargo | 206 | 156 |
Other | 1,124 | 649 |
Total operating revenues | 9,995 | 6,098 |
Operating expenses | ' | ' |
Aircraft fuel and related taxes | 2,711 | 1,934 |
Salaries, wages and benefits | 2,119 | 1,267 |
Regional expenses | 1,594 | 780 |
Maintenance, materials and repairs | 485 | 326 |
Other rent and landing fees | 424 | 288 |
Aircraft rent | 320 | 165 |
Selling expenses | 401 | 290 |
Depreciation and amortization | 307 | 204 |
Special items, net | -137 | 71 |
Other | 1,041 | 702 |
Total operating expenses | 9,265 | 6,027 |
Operating income | 730 | 71 |
Nonoperating income (expense) | ' | ' |
Interest income | 7 | 4 |
Interest expense, net | -243 | -254 |
Other, net | -1 | -24 |
Total nonoperating expense, net | -237 | -274 |
Historical [Member] | ' | ' |
Operating revenues | ' | ' |
Mainline passenger | ' | 4,614 |
Regional passenger | ' | 679 |
Cargo | ' | 155 |
Other | ' | 650 |
Total operating revenues | ' | 6,098 |
Operating expenses | ' | ' |
Aircraft fuel and related taxes | ' | 2,200 |
Salaries, wages and benefits | ' | 1,484 |
Regional expenses | ' | 0 |
Maintenance, materials and repairs | ' | 383 |
Other rent and landing fees | ' | 346 |
Aircraft rent | ' | 164 |
Selling expenses | ' | 276 |
Depreciation and amortization | ' | 246 |
Special items, net | ' | 28 |
Other | ' | 919 |
Total operating expenses | ' | 6,046 |
Operating income | ' | 52 |
Nonoperating income (expense) | ' | ' |
Interest income | ' | 4 |
Interest expense, net | ' | -250 |
Other, net | ' | -9 |
Total nonoperating expense, net | ' | -255 |
AA [Member] | ' | ' |
Operating revenues | ' | ' |
Mainline passenger | 4,906 | 4,614 |
Regional passenger | 669 | 679 |
Cargo | 168 | 156 |
Other | 726 | 636 |
Total operating revenues | 6,469 | 6,085 |
Operating expenses | ' | ' |
Aircraft fuel and related taxes | 1,871 | 1,934 |
Salaries, wages and benefits | 1,398 | 1,264 |
Regional expenses | 758 | 766 |
Maintenance, materials and repairs | 332 | 326 |
Other rent and landing fees | 285 | 287 |
Aircraft rent | 216 | 165 |
Selling expenses | 284 | 290 |
Depreciation and amortization | 214 | 204 |
Special items, net | -216 | 71 |
Other | 749 | 712 |
Total operating expenses | 5,891 | 6,019 |
Operating income | 578 | 66 |
Nonoperating income (expense) | ' | ' |
Interest income | 7 | 4 |
Interest expense, net | -168 | -169 |
Other, net | -5 | -24 |
Total nonoperating expense, net | -166 | -189 |
AA [Member] | Historical [Member] | ' | ' |
Operating revenues | ' | ' |
Mainline passenger | ' | 4,614 |
Regional passenger | ' | 679 |
Cargo | ' | 155 |
Other | ' | 637 |
Total operating revenues | ' | 6,085 |
Operating expenses | ' | ' |
Aircraft fuel and related taxes | ' | 2,199 |
Salaries, wages and benefits | ' | 1,312 |
Regional expenses | ' | 269 |
Maintenance, materials and repairs | ' | 318 |
Other rent and landing fees | ' | 342 |
Aircraft rent | ' | 164 |
Selling expenses | ' | 276 |
Depreciation and amortization | ' | 241 |
Special items, net | ' | 28 |
Other | ' | 889 |
Total operating expenses | ' | 6,038 |
Operating income | ' | 47 |
Nonoperating income (expense) | ' | ' |
Interest income | ' | 4 |
Interest expense, net | ' | -165 |
Other, net | ' | -9 |
Total nonoperating expense, net | ' | ($170) |
Emergence_From_Chapter_11_and_2
Emergence From Chapter 11 and Merger with US Airways Group (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 4 Months Ended | 0 Months Ended | 3 Months Ended | 4 Months Ended | |||||||||||
Dec. 09, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 09, 2013 | Mar. 31, 2014 | Dec. 09, 2013 | Dec. 09, 2013 | Dec. 09, 2013 | Dec. 09, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Apr. 10, 2014 | |
Series A Preferred Stock [Member] | Preferred Class A [Member] | Preferred Class A [Member] | Common Stock [Member] | 2013 AAG Incentive Award Plan [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | Internal Revenue Service (IRS) [Member] | Subsequent Event [Member] | ||||||
AA [Member] | Common Stock [Member] | ||||||||||||||||
Reorganization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value (usd per share) | $0.01 | $0.01 | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | $1 | ' | $1 | $1 | ' | ' |
Merger common stock conversion ratio | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized (shares) | 1,750,000,000 | 1,750,000,000 | ' | 1,750,000,000 | 1,750,000,000 | ' | ' | ' | ' | ' | ' | 1,000 | ' | 1,000 | 1,000 | ' | ' |
Preferred stock, shares authorized (shares) | 200,000,000 | ' | ' | ' | ' | 168,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par or stated value per share (usd per share) | $0.01 | ' | ' | ' | ' | $25 | $25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock authorized for issuance (shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' |
Common shares authorized to be distributed to debtor's stakeholders (percent) | 72.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Common Stock allocated to holders of unsecured claims, allowed interests and certain employees (percent) | 72.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of common stock allocated to labor related claimholders (percent) | 23.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock allocated to labor related claimholders (shares) | 39,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock distributed to labor related claimholders (shares) | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock withheld for required withholding taxes related to labor related claimholders (shares) | 13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for payroll taxes associated with equity distributions to employees | $300,000,000 | $380,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $300,000,000 | $380,000,000 | ' | ' | ' | ' | ' |
Common stock distributed to allowed interests holders of AMR (shares) | 26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of common stock distributed to allowed interests holders of AMR (percent) | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of days after effective date holders of claims are eligible to receive shares | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum number of shares to be distributed in accordance with the Plan (shares) | 756,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pension Contributions | ' | ' | ' | 385,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 385,000,000 | ' | ' | ' |
Payments to Satisfy Claims | ' | ' | ' | 107,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107,000,000 | ' | ' | ' |
Cure payments to holders of secured debt | ' | ' | ' | 196,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 196,000,000 | ' | ' | ' |
Payments Related to Tax Withholding for Share-based Compensation | ' | 84,000,000 | 0 | 380,000,000 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 380,000,000 | ' | ' | ' |
Expected reduction in maximum number of shares to be distributed, per plan (shares) | ' | 20,000,000 | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common shares distributed to holders of US Airways Group common stock (shares) | ' | 197,000,000 | ' | 197,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserve for disputed claims | 755,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 755,000,000 | ' | ' | ' | ' | ' | ' |
Convertible preferred stock, shares reserved for future issuance (shares) | ' | ' | ' | ' | ' | 16,000,000 | 147,000,000 | 16,000,000 | 18,000,000 | ' | ' | ' | ' | ' | ' | ' | 18,000,000 |
Federal NOL carryforwards, maximum allowable utilization | ' | 9,000,000,000 | ' | 9,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,500,000,000 | ' |
Plan of reorganization additional estimated allowed claim amounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $127,000,000 | ' | ' | ' | ' |
Emergence_From_Chapter_11_and_3
Emergence From Chapter 11 and Merger with US Airways Group (Schedule of Reorganization Items) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Reorganization Items, Net | ' | ' | ||
Aircraft and facility financing renegotiations and rejections | ' | $136 | [1],[2] | |
Professional fees | ' | 39 | ||
Other | ' | -15 | ||
Total reorganization items, net | 0 | [3] | 160 | [3] |
AA [Member] | ' | ' | ||
Reorganization Items, Net | ' | ' | ||
Aircraft and facility financing renegotiations and rejections | ' | 136 | [2],[4] | |
Professional fees | ' | 39 | ||
Other | ' | -15 | ||
Total reorganization items, net | $0 | [5] | $160 | [5] |
[1] | Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the three months ended March 31, 2013, the Company recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $127 million, which are included in the table above. | |||
[2] | Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to (i) the rejection or modification of financings related to aircraft and (ii) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds. The Debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the Bankruptcy Court to reject or modify such financing and the Debtors believed that it was probable the motion would be approved, and there was sufficient information to estimate the claim. | |||
[3] | In the 2013 first quarter, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | |||
[4] | Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations. As a result, during the three months ended March 31, 2013, American recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $127 million, which are included in the table above. | |||
[5] | In the 2013 first quarter, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. |
Mandatorily_Convertible_Prefer2
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations (Details) (USD $) | 0 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | ||||||||||||
Dec. 09, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 09, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Apr. 08, 2014 | Apr. 03, 2014 | Apr. 03, 2014 | Apr. 08, 2014 | Apr. 08, 2014 | Apr. 03, 2014 | Apr. 03, 2014 | Dec. 09, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Apr. 08, 2014 | Mar. 31, 2014 | |
Series A Preferred Stock [Member] | Preferred Class A [Member] | Common Stock [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | Special Items, Net [Member] | ||||
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series A Preferred Stock [Member] | Common Stock [Member] | Subsequent Event [Member] | |||||||||||||||
Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
AAG Series A Preferred Stock | ' | $589,000,000 | $3,833,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Single-Dip equity obligations | ' | 1,259,000,000 | 1,246,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Single-Dip and Double-Dip equity obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,768,000,000 | 4,575,000,000 | ' | ' | ' | ' |
Labor-related deemed claim | ' | 474,000,000 | 849,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 474,000,000 | 849,000,000 | ' | ' | ' | ' |
Total | ' | 2,322,000,000 | 5,928,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,242,000,000 | 5,424,000,000 | ' | ' | ' | ' |
Preferred stock, par or stated value per share (usd per share) | $0.01 | ' | ' | $25 | $25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends rate per annum (percent) | ' | 6.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion discount for unsecured creditors receiving AAG Preferred Stock (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | 3.50% | ' | ' | ' | ' | ' |
Series A Convertible Preferred Stock, conversion price floor (in usd per share) | ' | $10.88 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series A Convertible Preferred Stock, conversion price cap (in usd per share) | ' | $33.81 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares converted (shares) | ' | ' | ' | ' | 140,000,000 | ' | 17,230,000 | 294,000 | 30,000 | 17,554,000 | ' | ' | ' | ' | ' | ' | 123,000,000 | ' | ' | ' |
Optional conversion of AAG Series A Preferred Stock into shares of AAG Common Stock on December 17, 2013 (shares) | ' | ' | ' | ' | ' | 118,000,000 | 141,000,000 | ' | ' | ' | 13,007,000 | 222,000 | 23,000 | ' | ' | ' | ' | 103,000,000 | 124,000,000 | ' |
Decrease in mandatory convertible preferred stock obligation | ' | 3,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000,000 | ' | ' | ' | ' | ' |
Dividend rate for single-dip unsecured claims not settled in Preferred Stock (percent) | ' | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Labor-related deemed claim | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' |
Value of initial distribution of common stock | ' | 680,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 680,000,000 | ' | ' | ' | ' | ' |
Payments for payroll taxes associated with equity distributions to employees | 300,000,000 | 380,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 380,000,000 | ' | ' | ' | ' | ' |
Decrease in mandatory convertible preferred stock obligation and other bankruptcy settlement obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,000,000 | ' | ' | ' | ' | 41,000,000 |
Reserve for disputed claims | ' | ' | ' | ' | ' | ' | $335,000,000 | ' | ' | $335,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $335,000,000 | ' |
Stock issued per $1,000 in claims (shares) | ' | ' | ' | ' | ' | ' | 30.7553 | ' | ' | 30.7553 | ' | ' | ' | ' | ' | ' | ' | ' | 30.7553 | ' |
Slot_Divestiture_Narrative_Det
Slot Divestiture (Narrative) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Noncash or Part Noncash Divestitures [Line Items] | ' | ' |
Net proceeds from slot transaction | $307 | $0 |
Gain related to sale of DCA slots | 309 | ' |
AA [Member] | ' | ' |
Noncash or Part Noncash Divestitures [Line Items] | ' | ' |
Net proceeds from slot transaction | 299 | 0 |
Number of slots sold, John F. Kennedy Airport (slots) | 24 | ' |
Gain related to sale of DCA slots | $305 | ' |
John F. Kennedy Airport [Member] | ' | ' |
Noncash or Part Noncash Divestitures [Line Items] | ' | ' |
Number of slots sold, John F. Kennedy Airport (slots) | 24 | ' |
Special_Items_Details
Special Items (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Restructuring Cost and Reserve [Line Items] | ' | ' | ||
Mainline operating special items, net | ($137) | [1] | $71 | [1] |
Gain related to sale of DCA slots | 309 | ' | ||
Fair value adjustments for bankruptcy settlement obligations | -32 | ' | ||
Integration related costs | 142 | ' | ||
Non-cash compensation expense | 60 | ' | ||
Regional operating special items, net | 4 | 2 | ||
Nonoperating special items, net | 47 | [2] | 116 | [2] |
Reorganization items, net | 0 | [3] | 160 | [3] |
Income tax special items, net | 8 | [4] | 0 | [4] |
Interest accretion, bankruptcy settlement obligations | 31 | ' | ||
AA [Member] | ' | ' | ||
Restructuring Cost and Reserve [Line Items] | ' | ' | ||
Mainline operating special items, net | -216 | [1] | 71 | [1] |
Gain related to sale of DCA slots | 305 | ' | ||
Fair value adjustments for bankruptcy settlement obligations | -56 | ' | ||
Integration related costs | 91 | ' | ||
Non-cash compensation expense | 43 | ' | ||
Operating special items expense | ' | -28 | [2] | |
Workers' compensation claims | ' | 43 | ||
Regional operating special items, net | 1 | 0 | ||
Nonoperating special items, net | 44 | [2] | 27 | [2] |
Reorganization items, net | 0 | [5] | 160 | [5] |
Income tax special items, net | 7 | [4] | 0 | [4] |
Interest accretion, bankruptcy settlement obligations | $27 | ' | ||
[1] | The 2014 first quarter mainline operating special items totaled a net credit of $137 million, which principally included a $309 million gain on the sale of slots at DCA and a net $32 million credit for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $142 million of cash merger integration expenses including amounts related to the pilot memorandum of understanding, information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as $60 million of non-cash compensation expense for merger equity awards. | |||
[2] | The 2014 first quarter nonoperating special items of $47 million were principally due to non-cash interest accretion of $31 million on the bankruptcy settlement obligations. The 2013 first quarter nonoperating special items consisted of interest charges to recognize post-petition interest expense on unsecured obligations pursuant to the Plan. | |||
[3] | In the 2013 first quarter, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. | |||
[4] | The 2014 first quarter included a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. | |||
[5] | In the 2013 first quarter, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees. |
Earnings_Loss_Per_Share_Narrat
Earnings (Loss) Per Share (Narrative) (Details) (USD $) | 3 Months Ended | 3 Months Ended | ||||
In Millions, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 09, 2013 | Apr. 08, 2014 |
Convertible Senior Notes, 7.25, Due in 2014 [Member] | Convertible Senior Notes, 7.25, Due in 2014 [Member] | Preferred Class A [Member] | Preferred Class A [Member] | Subsequent Event [Member] | ||
Senior Notes [Member] | Preferred Class A [Member] | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Distributions made to holders | 0.7441 | ' | ' | ' | ' | ' |
Convertible preferred stock, shares reserved for future issuance (shares) | ' | ' | ' | 147 | 16 | ' |
Reduction in mandatory share distribution due to cash payment of employee withholding taxes (shares) | ' | ' | ' | ' | ' | 4 |
Stated interest rate percentage (percent) | ' | 7.25% | 7.25% | ' | ' | ' |
Adjustment to net income (loss) for fair value of conversion feature for diluted earnings per share | ' | ' | $5 | ' | ' | ' |
Earnings_Loss_Per_Share_EPS_Ca
Earnings (Loss) Per Share (EPS Calculation) (Details) (USD $) | 3 Months Ended | |||
In Millions, except Share data in Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ||
Net income (loss) | $480 | ($341) | ||
Weighted-average shares outstanding (shares) | 723,971 | 249,491 | ||
Basic EPS (usd per share) | $0.66 | ($1.37) | ||
Change in fair value of conversion feature on 7.25% convertible senior notes | 5 | [1] | 0 | [1] |
Net income (loss) for purposes of computing diluted EPS | $485 | ($341) | ||
Assumed conversion of 7.25% convertible senior notes (shares) | 3,830 | [1] | 0 | [1] |
Weighted average common shares outstanding - as adjusted (shares) | 741,335 | 249,491 | ||
Diluted EPS (usd per share) | $0.65 | ($1.37) | ||
Convertible Debt Securities [Member] | ' | ' | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ||
Stock options, SARs and RSUs because inclusion would be antidilutive (shares) | 0 | 34,581 | ||
Stock Compensation Plan [Member] | ' | ' | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ||
Stock options, SARs and RSUs because inclusion would be antidilutive (shares) | 33 | 20,010 | ||
Stock Compensation Awards [Member] | ' | ' | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ||
Dilutive effect of stock awards (shares) | 13,534 | 0 | ||
[1] | In March 2014, the Company notified the holders of US Airways Group's 7.25% convertible senior notes that it has elected to settle all future conversions solely in cash instead of shares of AAG Common Stock in accordance with the related indenture. Thus, the diluted shares include the weighted average impact of the 7.25% convertible senior notes only for the period from January 1, 2014 to March 12, 2014. In addition, under GAAP, the Company must adjust the numerator for purposes of calculating diluted earnings per share by the change in fair value of the conversion feature from March 12, 2014 to March 31, 2014, which increased GAAP net income for purposes of computing diluted earnings per share by $5 million. |
Debt_Components_Of_LongTerm_De
Debt (Components Of Long-Term Debt) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | $16,777 | $16,894 |
Less: total unamortized debt discount | 92 | 95 |
Current maturities of long-term debt and capital leases | 1,441 | 1,446 |
Long-term debt and capital lease obligations, net of current maturities | 15,244 | 15,353 |
Convertible Senior Notes, 7.25, Due in 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Stated interest rate percentage (percent) | 7.25% | ' |
Secured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 16,226 | 16,343 |
Unsecured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 551 | 551 |
AA [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 10,607 | 10,878 |
Less: total unamortized debt discount | 66 | 69 |
Current maturities of long-term debt and capital leases | 951 | 957 |
Long-term debt and capital lease obligations, net of current maturities | 9,590 | 9,852 |
AA [Member] | Secured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 10,580 | 10,851 |
Stated interest rate percentage (percent) | 7.50% | ' |
AA [Member] | Secured Debt [Member] | Secured variable and fixed rate indebtedness due through 2023 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 1,966 | 2,140 |
Effective interest rate percentage - minimum (percent) | 1.43% | 1.43% |
Effective interest rate percentage - maximum (percent) | 8.10% | 8.10% |
AA [Member] | Secured Debt [Member] | Enhanced Equipment Trust Certificates Due Two Thousand Twenty Five [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 3,415 | 3,516 |
Percentage of debt instrument interest rate - minimum (percent) | 4.00% | 4.00% |
Percentage of debt instrument interest rate - maximum (percent) | 7.00% | 7.00% |
AA [Member] | Secured Debt [Member] | Special Facility Revenue Bonds, Due Through 2031 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 1,313 | 1,313 |
Percentage of debt instrument interest rate - minimum (percent) | 7.13% | 7.13% |
Percentage of debt instrument interest rate - maximum (percent) | 8.50% | 8.50% |
AA [Member] | Secured Debt [Member] | 7.50% Senior Secured Notes Due 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 900 | 1,000 |
Interest rate at period end (percent) | 7.50% | 7.50% |
Stated interest rate percentage (percent) | 7.50% | 7.50% |
AA [Member] | Secured Debt [Member] | Senior Secured Credit Facility, Due 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 1,886 | 1,891 |
Interest rate at period end (percent) | 3.75% | 3.75% |
AA [Member] | Secured Debt [Member] | AAdvantage Miles Advance Purchase [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 568 | 611 |
Effective interest rate percentage (percent) | 8.30% | 8.30% |
AA [Member] | Secured Debt [Member] | Other Secured Obligations, Fixed Rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 532 | 380 |
Percentage of debt instrument interest rate - minimum (percent) | 5.20% | 5.20% |
Percentage of debt instrument interest rate - maximum (percent) | 12.20% | 12.20% |
AA [Member] | Unsecured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 27 | 27 |
AA [Member] | Unsecured Debt [Member] | Affiliate Unsecured Obligations [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 27 | 27 |
US Airways Group (Parent Company Only) [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Current maturities of long-term debt and capital leases | 22 | 22 |
Long-term debt and capital lease obligations, net of current maturities | 523 | 523 |
US Airways Group (Parent Company Only) [Member] | Secured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 5,646 | 5,492 |
US Airways Group (Parent Company Only) [Member] | Secured Debt [Member] | Other Secured Obligations, Fixed Rate [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 46 | 47 |
Percentage of debt instrument interest rate - minimum (percent) | 5.20% | 5.20% |
Percentage of debt instrument interest rate - maximum (percent) | 8.00% | 8.00% |
US Airways Group (Parent Company Only) [Member] | Secured Debt [Member] | Credit Facility, Tranche B-1, Citicorp 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 1,000 | 1,000 |
Variable interest rate percentage (percent) | 3.50% | 3.50% |
US Airways Group (Parent Company Only) [Member] | Secured Debt [Member] | Credit Facility, Tranche B-2, Citicorp 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 600 | 600 |
Variable interest rate percentage (percent) | 3.00% | 3.00% |
US Airways Group (Parent Company Only) [Member] | Secured Debt [Member] | Aircraft Enhanced Equipment Trust Certificates [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 2,703 | 2,515 |
Percentage of debt instrument interest rate - minimum (percent) | 3.95% | 3.95% |
Percentage of debt instrument interest rate - maximum (percent) | 11.00% | 11.00% |
US Airways Group (Parent Company Only) [Member] | Secured Debt [Member] | Equipment Loans and Other Notes Payable [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 1,297 | 1,330 |
Effective interest rate percentage - minimum (percent) | 1.55% | 1.55% |
Effective interest rate percentage - maximum (percent) | 8.48% | 8.48% |
US Airways Group (Parent Company Only) [Member] | Unsecured Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 551 | 551 |
US Airways Group (Parent Company Only) [Member] | Unsecured Debt [Member] | Senior Notes, 6.125, Due in 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 500 | 500 |
Stated interest rate percentage (percent) | 6.13% | 6.13% |
US Airways Group (Parent Company Only) [Member] | Unsecured Debt [Member] | Convertible Senior Notes, 7.25, Due in 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | 22 | 22 |
Stated interest rate percentage (percent) | 7.25% | 7.25% |
US Airways Group (Parent Company Only) [Member] | Unsecured Debt [Member] | Industrial Development Bonds, 6.30, Due in 2023 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total long-term debt and capital lease obligations | $29 | $29 |
Stated interest rate percentage (percent) | 6.30% | 6.30% |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 1 Months Ended |
Mar. 31, 2014 | |
Convertible Senior Notes, 7.25, Due in 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Stated interest rate percentage (percent) | 7.25% |
other current liabilities | $157,000,000 |
AA [Member] | Secured Debt [Member] | ' |
Debt Instrument [Line Items] | ' |
Repayments of long-term debt | 100,000,000 |
Stated interest rate percentage (percent) | 7.50% |
Redemption price (percent) | 103.00% |
US Airways Group (Parent Company Only) [Member] | ' |
Debt Instrument [Line Items] | ' |
Notes Payable | 224,000,000 |
US Airways Group (Parent Company Only) [Member] | Enhanced Equipment Trust Certificate (EETC), Series 2013-1 Class A [Member] | ' |
Debt Instrument [Line Items] | ' |
Stated interest rate percentage (percent) | 3.95% |
Notes Payable | 170,000,000 |
US Airways Group (Parent Company Only) [Member] | Enhanced Equipment Trust Certificate (EETC), Series 2013-1 Class B [Member] | ' |
Debt Instrument [Line Items] | ' |
Stated interest rate percentage (percent) | 5.38% |
Notes Payable | $54,000,000 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |||
Income Tax Examination [Line Items] | ' | ' | ' | ||
Unrecognized federal tax benefit | ' | ' | $762,000,000 | ||
Alternative minimum tax | ' | ' | 370,000,000 | ||
Income tax special items, net | 8,000,000 | [1] | 0 | [1] | ' |
Income tax provision (benefit) | 13,000,000 | -22,000,000 | ' | ||
American Taxpayer Relief Act of 2012 credit | ' | 22,000,000 | ' | ||
AA [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
Unrecognized federal tax benefit | ' | ' | 647,000,000 | ||
Alternative minimum tax | ' | ' | 467,000,000 | ||
Income tax special items, net | 7,000,000 | [1] | 0 | [1] | ' |
Income tax provision (benefit) | 11,000,000 | -30,000,000 | ' | ||
American Taxpayer Relief Act of 2012 credit | ' | 30,000,000 | ' | ||
State and Local Jurisdiction [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
NOL subject to expiration | ' | ' | 4,700,000,000 | ||
Valuation allowance | ' | ' | 415,000,000 | ||
State and Local Jurisdiction [Member] | AA [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
NOL subject to expiration | ' | ' | 3,800,000,000 | ||
Valuation allowance | ' | ' | 378,000,000 | ||
Internal Revenue Service (IRS) [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
NOL subject to expiration | ' | ' | 10,600,000,000 | ||
Valuation allowance | ' | ' | 4,600,000,000 | ||
Internal Revenue Service (IRS) [Member] | AA [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
NOL subject to expiration | ' | ' | 9,500,000,000 | ||
Valuation allowance | ' | ' | 4,900,000,000 | ||
Foreign Tax Authority and State and Local Jurisdiction [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
Income tax provision (benefit) | 5,000,000 | ' | ' | ||
Foreign Tax Authority and State and Local Jurisdiction [Member] | AA [Member] | ' | ' | ' | ||
Income Tax Examination [Line Items] | ' | ' | ' | ||
Income tax provision (benefit) | $4,000,000 | ' | ' | ||
[1] | The 2014 first quarter included a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Millions, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | $8,405 | $8,111 | |
Restricted cash and short-term investments | 947 | 1,035 | |
US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments, mature in more than one year | 441 | [1],[2] | ' |
Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments, mature in more than one year | 2,100 | [1],[2] | ' |
Fair Value [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 8,405 | [1],[2] | ' |
Restricted cash and short-term investments | 947 | [1] | ' |
Fuel derivative contracts, net | 50 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 9,402 | ' | |
Fair Value [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 3,596 | [1],[2] | ' |
Fair Value [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 941 | [1],[2] | ' |
Fair Value [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 99 | [1],[2] | ' |
Fair Value [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 3,064 | [1],[2] | ' |
Fair Value [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 705 | [1],[2] | ' |
Level 1 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 3,596 | [1],[2] | ' |
Restricted cash and short-term investments | 891 | [1] | ' |
Fuel derivative contracts, net | 0 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 4,487 | ' | |
Level 1 [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 3,596 | [1],[2] | ' |
Level 1 [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 1 [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 1 [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 1 [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 2 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 4,809 | [1],[2] | ' |
Restricted cash and short-term investments | 56 | [1] | ' |
Fuel derivative contracts, net | 50 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 4,915 | ' | |
Level 2 [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 2 [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 941 | [1],[2] | ' |
Level 2 [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 99 | [1],[2] | ' |
Level 2 [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 3,064 | [1],[2] | ' |
Level 2 [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 705 | [1],[2] | ' |
Level 3 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Restricted cash and short-term investments | 0 | [1] | ' |
Fuel derivative contracts, net | 0 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 0 | ' | |
Level 3 [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 3 [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 3 [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 3 [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
Level 3 [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 0 | [1],[2] | ' |
AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 4,979 | 5,162 | |
Restricted cash and short-term investments | 699 | 702 | |
AA [Member] | Fair Value [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 4,979 | [1],[3] | ' |
Restricted cash and short-term investments | 699 | [1] | ' |
Fuel derivative contracts, net | 50 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 5,728 | ' | |
AA [Member] | Fair Value [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 171 | [1],[3] | ' |
AA [Member] | Fair Value [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 941 | [1],[3] | ' |
AA [Member] | Fair Value [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 99 | [1],[3] | ' |
AA [Member] | Fair Value [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 3,064 | [1],[3] | ' |
AA [Member] | Fair Value [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 704 | [1],[3] | ' |
AA [Member] | Level 1 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 171 | [1],[3] | ' |
Restricted cash and short-term investments | 643 | [1] | ' |
Fuel derivative contracts, net | 0 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 814 | ' | |
AA [Member] | Level 1 [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 171 | [1],[3] | ' |
AA [Member] | Level 1 [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 1 [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 1 [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 1 [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 2 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 4,808 | [1],[3] | ' |
Restricted cash and short-term investments | 56 | [1] | ' |
Fuel derivative contracts, net | 50 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 4,914 | ' | |
AA [Member] | Level 2 [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 2 [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 941 | [1],[3] | ' |
AA [Member] | Level 2 [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 99 | [1],[3] | ' |
AA [Member] | Level 2 [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 3,064 | [1],[3] | ' |
AA [Member] | Level 2 [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 704 | [1],[3] | ' |
AA [Member] | Level 3 [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
Restricted cash and short-term investments | 0 | [1] | ' |
Fuel derivative contracts, net | 0 | [1] | ' |
Fair value of assets and liabilities measured on recurring basis | 0 | ' | |
AA [Member] | Level 3 [Member] | Money Market Funds [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 3 [Member] | US Government Agencies Debt Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 3 [Member] | Repurchase Agreements [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 3 [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
AA [Member] | Level 3 [Member] | Bank Notes/Certificates of Deposit/Time Deposits [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 0 | [1],[3] | ' |
Available-for-sale Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 5,000 | [1],[2] | ' |
Held-to-maturity Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Short-term investments | 3,400 | ' | |
Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 750 | ' | |
Foreign currency translation exchange rate | 6.32 | ' | |
Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 750 | ' | |
Foreign currency translation exchange rate | 6.32 | ' | |
4.3 Bolivars per Dollar [Member] | Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 94 | ' | |
Foreign currency translation exchange rate | 4.3 | ' | |
4.3 Bolivars per Dollar [Member] | Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 94 | ' | |
Foreign currency translation exchange rate | 4.3 | ' | |
6.3 Bolivars per Dollar [Member] | Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 611 | ' | |
Foreign currency translation exchange rate | 6.3 | ' | |
6.3 Bolivars per Dollar [Member] | Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 611 | ' | |
Foreign currency translation exchange rate | 6.3 | ' | |
10.7 Bolivars per Dollar [Member] | Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 45 | ' | |
Foreign currency translation exchange rate | 10.7 | ' | |
10.7 Bolivars per Dollar [Member] | Venezuelan bolÃvar fuerte | Cash and Cash Equivalents [Member] | AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Unrestricted cash balance held in Venezuelan blivars | 45 | ' | |
Foreign currency translation exchange rate | 10.7 | ' | |
Carrying Value [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Long-term debt, including current maturities | 16,685 | 16,799 | |
Carrying Value [Member] | AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Long-term debt, including current maturities | 10,541 | 10,809 | |
Fair Value [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Long-term debt, including current maturities | 17,494 | 17,035 | |
Fair Value [Member] | AA [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Long-term debt, including current maturities | 11,032 | 11,045 | |
Maturity Dates Exceeding One Year [Member] | AA [Member] | Corporate Obligations [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | 441 | ' | |
Maturity Dates Exceeding One Year [Member] | AA [Member] | Government Agency Investments [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Available-for-sale Securities | $2,100 | ' | |
[1] | Unrealized gains or losses on short-term investments, restricted cash and short-term investments, and derivatives qualifying for hedge accounting are recorded in Accumulated other comprehensive income (loss) at each measurement date. | ||
[2] | The Company's short-term investments mature in one year or less except $441 million of U.S. government agency investments and $2.1 billion of corporate obligations. | ||
[3] | American's short-term investments mature in one year or less except for $441 million of U.S. government agency investments and $2.1 billion of corporate obligations. |
Retirement_Benefits_Narrative_
Retirement Benefits (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Apr. 15, 2014 | Apr. 15, 2014 |
AA [Member] | AA [Member] | Pension Plans [Member] | Pension Plans [Member] | Pension Plans [Member] | Pension Plans [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
AA [Member] | AA [Member] | Pension Plans [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Employer contributions | $33 | $385 | $34 | $33 | $385 | $34 | $37 | $37 |
Retirement_Benefits_Components
Retirement Benefits (Components Of Net Periodic Benefit Cost) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | $0 | $1 |
Interest cost | 186 | 163 |
Expected return on assets | -196 | -180 |
Settlements | 2 | 0 |
Prior service cost | 7 | 7 |
Unrecognized net loss (gain) | 11 | 23 |
Net periodic benefit cost | 10 | 14 |
Retiree Medical and Other Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 0 | 0 |
Interest cost | 15 | 13 |
Expected return on assets | -5 | -4 |
Settlements | 0 | 0 |
Prior service cost | -61 | -61 |
Unrecognized net loss (gain) | -2 | -2 |
Net periodic benefit cost | -53 | -54 |
AA [Member] | Pension Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 0 | 1 |
Interest cost | 185 | 163 |
Expected return on assets | -195 | -180 |
Settlements | 2 | 0 |
Prior service cost | 7 | 7 |
Unrecognized net loss (gain) | 11 | 23 |
Net periodic benefit cost | 10 | 14 |
AA [Member] | Retiree Medical and Other Benefits [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost | 0 | 0 |
Interest cost | 14 | 13 |
Expected return on assets | -5 | -4 |
Settlements | 0 | 0 |
Prior service cost | -60 | -61 |
Unrecognized net loss (gain) | -2 | -2 |
Net periodic benefit cost | ($53) | ($54) |
Financial_Instruments_And_Risk2
Financial Instruments And Risk Management (Narrative) (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
barrel | |||
Derivative [Line Items] | ' | ' | ' |
Nonmonetary notional amount | 15,000,000 | ' | ' |
Higher remaining maturity range | '15 months | ' | ' |
Amount of gain (loss) recognized in condensed consolidated statements of operations | ($2) | $8 | ' |
Price risk cash flow hedge derivative, at fair value | 48 | ' | 107 |
Estimate of time to transfer | '12 months | ' | ' |
Estimated net amount to be transferred | -3 | ' | ' |
AA [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Nonmonetary notional amount | 15,000,000 | ' | ' |
Higher remaining maturity range | '15 months | ' | ' |
Minimum R-squared percentage in fuel hedge contracts (percent) | 80.00% | ' | ' |
Minimum dollar offset correlation (percent) | 80.00% | ' | ' |
Maximum dollar offset correlation (percent) | 125.00% | ' | ' |
Amount of gain (loss) recognized in condensed consolidated statements of operations | -2 | 8 | ' |
Price risk cash flow hedge derivative, at fair value | 48 | ' | 107 |
Estimate of time to transfer | '12 months | ' | ' |
Estimated net amount to be transferred | ($3) | ' | ' |
Financial_Instruments_And_Risk3
Financial Instruments And Risk Management (Effect Of Derivative Instruments On Statements Of Operations) (Details) (USD $) | 3 Months Ended | |||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Amount of gain (loss) recognized in condensed consolidated statements of operations | ($2) | $8 | ||
Fuel Derivative Contracts [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Amount of gain (loss) reclassified from accumulated OCI into income | -7 | [1] | 1 | [1] |
Amount of gain (loss) recognized in income on derivative | 5 | [2] | 7 | [2] |
Amount of gain (loss) recognized in condensed consolidated statements of operations | -2 | [3] | 8 | [3] |
Amount of gain (loss) recognized in OCI on derivative | -50 | -14 | ||
AA [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Amount of gain (loss) recognized in condensed consolidated statements of operations | -2 | 8 | ||
AA [Member] | Fuel Derivative Contracts [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Amount of gain (loss) reclassified from accumulated OCI into income | -7 | [1] | 1 | [1] |
Amount of gain (loss) recognized in income on derivative | 5 | [2] | 7 | [2] |
Amount of gain (loss) recognized in condensed consolidated statements of operations | -2 | [3] | 8 | [3] |
Amount of gain (loss) recognized in OCI on derivative | -50 | -14 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Fuel Derivative Contracts [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Amount of gain (loss) reclassified from accumulated OCI into income | 7 | [1] | -1 | [1] |
Amount of gain (loss) recognized in OCI on derivative | -57 | [1] | -13 | [1] |
Reclassification out of Accumulated Other Comprehensive Income [Member] | AA [Member] | Fuel Derivative Contracts [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Amount of gain (loss) reclassified from accumulated OCI into income | 7 | [1] | -1 | [1] |
Amount of gain (loss) recognized in OCI on derivative | ($57) | [1] | ($13) | [1] |
[1] | Includes the effective portion of hedge gain (loss) | |||
[2] | Includes the ineffective portion of hedge gain (loss) | |||
[3] | Includes the effective and ineffective portion of hedge gain (loss) |
Financial_Instruments_And_Risk4
Financial Instruments And Risk Management Financial Instruments and Risk Management (Offsetting Disclosure) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Derivative [Line Items] | ' | ' | ||
Gross asset | $50 | [1] | $109 | [1] |
Gross liability | 0 | [2] | 0 | [2] |
Net recognized asset (liability) in condensed consolidated balance sheet | 50 | 109 | ||
Financial instruments | 0 | 0 | ||
Cash collateral received (posted) | 0 | [3] | 0 | [3] |
Net amount | 50 | 109 | ||
AA [Member] | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Gross asset | 50 | [1] | 109 | [1] |
Gross liability | 0 | [2] | 0 | [2] |
Net recognized asset (liability) in condensed consolidated balance sheet | 50 | 109 | ||
Financial instruments | 0 | 0 | ||
Cash collateral received (posted) | 0 | [4] | 0 | [4] |
Net amount | $50 | $109 | ||
[1] | Fuel derivative assets are included in prepaid expenses and other on the accompanying condensed consolidated balance sheets. | |||
[2] | Fuel derivative liabilities are included in accrued liabilities on the accompanying condensed consolidated balance sheets. | |||
[3] | As of March 31, 2014, the Company had no posted cash collateral. | |||
[4] | As of March 31, 2014, American had no posted cash collateral. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, Tax | ($1,210) | ' |
Balance, Net of Tax | -2,032 | ' |
Other comprehensive income (loss), before reclassifications, Tax | 0 | ' |
Other comprehensive income (loss), before reclassifications, net of Tax | -67 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), Tax | 0 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), net of Tax | -36 | ' |
Other comprehensive loss before tax | -103 | -50 |
Net current-period other comprehensive income (loss), Tax | 0 | 0 |
Net current-period other comprehensive income (loss), net of Tax | -103 | ' |
Balance, Tax | -1,210 | ' |
Balance, Net of Tax | -2,135 | ' |
Pension and retiree medical liability | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, before Tax | -887 | ' |
Other comprehensive income (loss), before reclassifications, before Tax | 0 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), before Tax | -45 | ' |
Other comprehensive loss before tax | -45 | ' |
Balance, before Tax | -932 | ' |
Unrealized gain/(loss) on investments | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, before Tax | -2 | ' |
Other comprehensive income (loss), before reclassifications, before Tax | 0 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), before Tax | 2 | ' |
Other comprehensive loss before tax | 2 | ' |
Balance, before Tax | 0 | ' |
Derivative financial instruments | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, before Tax | 67 | ' |
Other comprehensive income (loss), before reclassifications, before Tax | -67 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), before Tax | 7 | ' |
Other comprehensive loss before tax | -60 | ' |
Balance, before Tax | 7 | ' |
AA [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, Tax | -1,319 | ' |
Balance, Net of Tax | -2,152 | ' |
Other comprehensive income (loss), before reclassifications, Tax | 0 | ' |
Other comprehensive income (loss), before reclassifications, net of Tax | -67 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), Tax | 0 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), net of Tax | -35 | ' |
Other comprehensive loss before tax | -102 | -50 |
Net current-period other comprehensive income (loss), Tax | 0 | 0 |
Net current-period other comprehensive income (loss), net of Tax | -102 | ' |
Balance, Tax | -1,319 | ' |
Balance, Net of Tax | -2,254 | ' |
AA [Member] | Pension and retiree medical liability | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, before Tax | -899 | ' |
Other comprehensive income (loss), before reclassifications, before Tax | 0 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), before Tax | -44 | ' |
Other comprehensive loss before tax | -44 | ' |
Balance, before Tax | -943 | ' |
AA [Member] | Unrealized gain/(loss) on investments | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, before Tax | 1 | ' |
Other comprehensive income (loss), before reclassifications, before Tax | 0 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), before Tax | 2 | ' |
Other comprehensive loss before tax | 2 | ' |
Balance, before Tax | 3 | ' |
AA [Member] | Derivative financial instruments | ' | ' |
Accumulated Other Comprehensive Income (Loss) Net Of Tax [Roll Forward] | ' | ' |
Balance, before Tax | 65 | ' |
Other comprehensive income (loss), before reclassifications, before Tax | -67 | ' |
Amounts reclassified from accumulated other comprehensive income (loss), before Tax | 7 | ' |
Other comprehensive loss before tax | -60 | ' |
Balance, before Tax | $5 | ' |
Regional_Expenses_Details
Regional Expenses (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Product Information [Line Items] | ' | ' |
Aircraft fuel and related taxes | $500 | $265 |
Salaries, wages and benefits | 265 | 173 |
Capacity purchases from third-party regional carriers | 347 | 34 |
Maintenance, materials and repairs | 87 | 70 |
Other rent and landing fees | 96 | 59 |
Aircraft rent | 14 | 1 |
Selling expenses | 72 | 37 |
Depreciation and amortization | 53 | 42 |
Special items, net | 4 | 2 |
Other | 156 | 97 |
Total regional expenses | 1,594 | 780 |
AA [Member] | ' | ' |
Product Information [Line Items] | ' | ' |
Aircraft fuel and related taxes | 252 | 265 |
Salaries, wages and benefits | 5 | 5 |
Capacity purchases from third-party regional carriers | 296 | 303 |
Maintenance, materials and repairs | 1 | 1 |
Other rent and landing fees | 55 | 54 |
Aircraft rent | 5 | 1 |
Selling expenses | 36 | 37 |
Depreciation and amortization | 37 | 37 |
Special items, net | 1 | 0 |
Other | 70 | 63 |
Total regional expenses | $758 | $766 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Reclassification out of AOCI) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | ($36) | ($34) |
Derivative Financial Instruments [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 7 | -1 |
Unrealized gain (loss) on investments [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | 0 |
Prior Service Cost [Member] | Pension And Retiree Medical Liability [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | -54 | -54 |
Actuarial Loss [Member] | Pension And Retiree Medical Liability [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 9 | 21 |
AA [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | -35 | -34 |
AA [Member] | Derivative Financial Instruments [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 7 | -1 |
AA [Member] | Unrealized gain (loss) on investments [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | 0 |
AA [Member] | Prior Service Cost [Member] | Pension And Retiree Medical Liability [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | -53 | -54 |
AA [Member] | Actuarial Loss [Member] | Pension And Retiree Medical Liability [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | $9 | $21 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (AA [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Millions, unless otherwise specified | ||||
Related Party Transaction [Line Items] | ' | ' | ||
Due to (due from) related parties | ($2,843) | ($2,807) | ||
American Airlines Group [Member] | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ||
Due to (due from) related parties | -2,471 | -2,455 | ||
Envoy Aviation Group Inc [Member] | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ||
Due to (due from) related parties | -400 | [1] | -394 | [1] |
Other American Airlines Group subsidiaries [Member] | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ||
Due to (due from) related parties | $28 | $42 | ||
[1] | Formerly known as AMR Eagle Holding Corporation, the net payable to AAG's wholly-owned regional airline operating under the brand name of American Eagle consists principally of amounts due under regional capacity purchase agreements. |
Legal_Proceedings_Details
Legal Proceedings (Details) (USD $) | Dec. 09, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Mar. 31, 2014 | Dec. 09, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Nov. 11, 2013 | Nov. 11, 2013 |
In Millions, unless otherwise specified | Boston Logan International Airport [Member] | LaGuardia Airport [Member] | DCA [Member] | Merger Agreement [Domain] | US Airways Sabre Matter [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | AA [Member] | |
gate | slot | slot | claim | Boston Logan International Airport [Member] | LaGuardia Airport [Member] | DCA [Member] | Merger Agreement [Domain] | ||||
gate | slot | slot | |||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserve for disputed claims | $755 | ' | ' | ' | ' | ' | $755 | ' | ' | ' | ' |
Required period to divest and not reacquire assets | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | '10 years |
Settlement agreement, slot pairs divested | ' | ' | 17 | 52 | ' | ' | ' | ' | 17 | 52 | ' |
Assets sold under bankruptcy agreement | ' | 2 | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Number of counts allowed to proceed (claims) | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' |
Number of complaints filed (claims) | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' |
Financial_Information_for_Subs2
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries-Income Statement (Details) (USD $) | 3 Months Ended | |||||||||||||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
AA [Member] | AA [Member] | US Airways Group (Parent Company Only) [Member] | US Airways [Member] | Non-Guarantor Subsidiaries [Member] | Eliminations and Reclassifications [Member] | American Airlines Group (Parent Company Only) [Member] | Senior Notes, 6.125, Due in 2018 [Member] | Senior Notes, 6.125, Due in 2018 [Member] | Convertible Senior Notes, 7.25, Due in 2014 [Member] | Convertible Senior Notes, 7.25, Due in 2014 [Member] | Convertible Senior Notes, 7.25, Due in 2014 [Member] | |||
Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | |||||||||||
US Airways Group (Parent Company Only) [Member] | US Airways Group (Parent Company Only) [Member] | US Airways Group (Parent Company Only) [Member] | US Airways Group (Parent Company Only) [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated interest rate percentage (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.13% | 6.13% | 7.25% | 7.25% | 7.25% |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mainline passenger | $7,258 | $4,614 | $4,906 | $4,614 | $0 | $2,352 | $0 | $0 | $0 | ' | ' | ' | ' | ' |
Regional passenger | 1,407 | 679 | 669 | 679 | 0 | 738 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Cargo | 206 | 156 | 168 | 156 | 0 | 38 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Other | 1,124 | 649 | 726 | 636 | 0 | 418 | 744 | -764 | 0 | ' | ' | ' | ' | ' |
Total operating revenues | 9,995 | 6,098 | 6,469 | 6,085 | 0 | 3,546 | 744 | -764 | 0 | ' | ' | ' | ' | ' |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aircraft fuel and related taxes | 2,711 | 1,934 | 1,871 | 1,934 | 0 | 840 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Salaries, wages and benefits | 2,119 | 1,267 | 1,398 | 1,264 | 0 | 719 | 197 | -195 | 0 | ' | ' | ' | ' | ' |
Regional expenses | 1,594 | 780 | 758 | 766 | 0 | 828 | 0 | 8 | 0 | ' | ' | ' | ' | ' |
Maintenance, materials and repairs | 485 | 326 | 332 | 326 | 0 | 153 | 85 | -85 | 0 | ' | ' | ' | ' | ' |
Other rent and landing fees | 424 | 288 | 285 | 287 | 0 | 139 | 7 | -7 | 0 | ' | ' | ' | ' | ' |
Aircraft rent | 320 | 165 | 216 | 165 | 0 | 104 | 21 | -21 | 0 | ' | ' | ' | ' | ' |
Selling expenses | 401 | 290 | 284 | 290 | 0 | 117 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Depreciation and amortization | 307 | 204 | 214 | 204 | 0 | 95 | 10 | -12 | 0 | ' | ' | ' | ' | ' |
Special items, net | -137 | 71 | -216 | 71 | 0 | 55 | 3 | -3 | 24 | ' | ' | ' | ' | ' |
Other | 1,041 | 702 | 749 | 712 | 0 | 308 | 431 | -449 | 2 | ' | ' | ' | ' | ' |
Total operating expenses | 9,265 | 6,027 | 5,891 | 6,019 | 0 | 3,358 | 754 | -764 | 26 | ' | ' | ' | ' | ' |
Operating income (loss) | 730 | 71 | 578 | 66 | 0 | 188 | -10 | 0 | -26 | ' | ' | ' | ' | ' |
Nonoperating income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | 7 | 4 | 7 | 4 | 0 | 1 | 1 | -4 | 2 | ' | ' | ' | ' | ' |
Interest expense, net | -243 | -254 | -168 | -169 | -10 | -65 | 0 | 4 | -4 | ' | ' | ' | ' | ' |
Equity in earnings of subsidiaries | 0 | ' | 0 | ' | 118 | 0 | 0 | -571 | 453 | ' | ' | ' | ' | ' |
Other, net | -1 | -24 | -5 | -24 | -56 | 3 | 1 | 56 | 0 | ' | ' | ' | ' | ' |
Total nonoperating income (expense), net | -237 | -274 | -166 | -189 | 52 | -61 | 2 | -515 | 451 | ' | ' | ' | ' | ' |
Income (loss) before income taxes | 493 | -363 | 412 | -283 | 52 | 127 | -8 | -515 | 425 | ' | ' | ' | ' | ' |
Income tax provision (benefit) | 13 | -22 | 11 | -30 | 0 | 1 | 0 | 0 | 1 | ' | ' | ' | ' | ' |
Net income (loss) | 480 | -341 | 401 | -253 | 52 | 126 | -8 | -515 | 424 | ' | ' | ' | ' | ' |
Amortization of actuarial gain and prior service cost | -45 | -33 | -44 | -33 | 0 | -1 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Change in fair value | -67 | -15 | -67 | -15 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Reclassification into earnings | 7 | -1 | 7 | -1 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Net change in value | 2 | -1 | 2 | -1 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Other comprehensive loss before tax | -103 | -50 | -102 | -50 | 0 | -1 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Non-cash tax provision | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Comprehensive income (loss) | $377 | ($391) | $299 | ($303) | $52 | $125 | ($8) | ($515) | $424 | ' | ' | ' | ' | ' |
Financial_Information_for_Subs3
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries-Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | $480 | ($341) |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | -45 | -33 |
Derivative financial instruments: | ' | ' |
Change in fair value | -67 | -15 |
Reclassification into earnings | 7 | -1 |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 2 | -1 |
Other comprehensive loss before tax | -103 | -50 |
Non-cash tax provision | 0 | 0 |
Comprehensive income (loss) | 377 | -391 |
American Airlines Group (Parent Company Only) [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 424 | ' |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | 0 | ' |
Derivative financial instruments: | ' | ' |
Change in fair value | 0 | ' |
Reclassification into earnings | 0 | ' |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 0 | ' |
Other comprehensive loss before tax | 0 | ' |
Non-cash tax provision | 0 | ' |
Comprehensive income (loss) | 424 | ' |
AA [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 401 | -253 |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | -44 | -33 |
Derivative financial instruments: | ' | ' |
Change in fair value | -67 | -15 |
Reclassification into earnings | 7 | -1 |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 2 | -1 |
Other comprehensive loss before tax | -102 | -50 |
Non-cash tax provision | 0 | 0 |
Comprehensive income (loss) | 299 | -303 |
US Airways Group (Parent Company Only) [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 52 | ' |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | 0 | ' |
Derivative financial instruments: | ' | ' |
Change in fair value | 0 | ' |
Reclassification into earnings | 0 | ' |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 0 | ' |
Other comprehensive loss before tax | 0 | ' |
Non-cash tax provision | 0 | ' |
Comprehensive income (loss) | 52 | ' |
US Airways [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | 126 | ' |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | -1 | ' |
Derivative financial instruments: | ' | ' |
Change in fair value | 0 | ' |
Reclassification into earnings | 0 | ' |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 0 | ' |
Other comprehensive loss before tax | -1 | ' |
Non-cash tax provision | 0 | ' |
Comprehensive income (loss) | 125 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | -8 | ' |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | 0 | ' |
Derivative financial instruments: | ' | ' |
Change in fair value | 0 | ' |
Reclassification into earnings | 0 | ' |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 0 | ' |
Other comprehensive loss before tax | 0 | ' |
Non-cash tax provision | 0 | ' |
Comprehensive income (loss) | -8 | ' |
Eliminations and Reclassifications [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net income (loss) | -515 | ' |
Defined benefit pension plans and retiree medical: | ' | ' |
Amortization of actuarial gain and prior service cost | 0 | ' |
Derivative financial instruments: | ' | ' |
Change in fair value | 0 | ' |
Reclassification into earnings | 0 | ' |
Unrealized gain (loss) on investments: | ' | ' |
Net change in value | 0 | ' |
Other comprehensive loss before tax | 0 | ' |
Non-cash tax provision | 0 | ' |
Comprehensive income (loss) | ($515) | ' |
Financial_Information_for_Subs4
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries-Balance Sheet (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash | $1,259 | $1,140 | $606 | $480 |
Short-term investments | 8,405 | 8,111 | ' | ' |
Restricted cash and short-term investments | 947 | 1,035 | ' | ' |
Accounts receivable, net | 2,008 | 1,560 | ' | ' |
Receivables from related parties,net | 0 | 0 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 1,052 | 1,012 | ' | ' |
Prepaid expenses and other | 1,522 | 1,465 | ' | ' |
Total current assets | 15,193 | 14,323 | ' | ' |
Operating property and equipment | 19,944 | 19,259 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Goodwill | 4,089 | 4,086 | ' | ' |
Intangibles, net of accumulated amortization | 2,319 | 2,311 | ' | ' |
Other assets | 2,192 | 2,299 | ' | ' |
Total other assets | 8,600 | 8,696 | ' | ' |
Total assets | 43,737 | 42,278 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | 15,244 | 15,353 | ' | ' |
Pension and postretirement benefits | 5,766 | 5,828 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 2,322 | 5,928 | ' | ' |
Negative investment in subsidiaries | 0 | 0 | ' | ' |
Other liabilities | 4,231 | 4,094 | ' | ' |
Total noncurrent liabilities | 27,563 | 31,203 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 1,441 | 1,446 | ' | ' |
Accounts payable | 1,646 | 1,368 | ' | ' |
Payable to affiliates | 0 | 0 | ' | ' |
Air traffic liability | 5,686 | 4,380 | ' | ' |
Frequent flyer liability | 2,951 | 3,005 | ' | ' |
Other accrued liabilities | 3,355 | 3,607 | ' | ' |
Total current liabilities | 15,079 | 13,806 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 6 | 5 | ' | ' |
Additional paid-in capital | 14,040 | 10,592 | ' | ' |
Accumulated other comprehensive loss | -2,135 | -2,032 | ' | ' |
Accumulated deficit | -10,816 | -11,296 | ' | ' |
Total stockholders’ equity (deficit) | 1,095 | -2,731 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | 43,737 | 42,278 | ' | ' |
American Airlines Group (Parent Company Only) [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash | 1 | 1 | ' | ' |
Short-term investments | 0 | 0 | ' | ' |
Restricted cash and short-term investments | 0 | 0 | ' | ' |
Accounts receivable, net | -7 | 0 | ' | ' |
Receivables from related parties,net | 2,474 | 2,468 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 0 | 0 | ' | ' |
Prepaid expenses and other | 0 | 0 | ' | ' |
Total current assets | 2,468 | 2,469 | ' | ' |
Operating property and equipment | 0 | 0 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangibles, net of accumulated amortization | 0 | 0 | ' | ' |
Other assets | 42 | 42 | ' | ' |
Total other assets | 42 | 42 | ' | ' |
Total assets | 2,510 | 2,511 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | 7 | 7 | ' | ' |
Pension and postretirement benefits | 0 | 0 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 74 | 435 | ' | ' |
Negative investment in subsidiaries | 1,345 | 4,808 | ' | ' |
Other liabilities | 1 | 1 | ' | ' |
Total noncurrent liabilities | 1,427 | 5,251 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 0 | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Payable to affiliates | 0 | 0 | ' | ' |
Air traffic liability | 0 | 0 | ' | ' |
Frequent flyer liability | 0 | 0 | ' | ' |
Other accrued liabilities | -12 | -9 | ' | ' |
Total current liabilities | -12 | -9 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 6 | 5 | ' | ' |
Additional paid-in capital | 14,040 | 10,592 | ' | ' |
Accumulated other comprehensive loss | -2,135 | -2,032 | ' | ' |
Accumulated deficit | -10,816 | -11,296 | ' | ' |
Total stockholders’ equity (deficit) | 1,095 | -2,731 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | 2,510 | 2,511 | ' | ' |
AA [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash | 983 | 829 | 599 | 474 |
Short-term investments | 4,979 | 5,162 | ' | ' |
Restricted cash and short-term investments | 699 | 702 | ' | ' |
Accounts receivable, net | 1,521 | 1,186 | ' | ' |
Receivables from related parties,net | 0 | 0 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 664 | 620 | ' | ' |
Prepaid expenses and other | 606 | 702 | ' | ' |
Total current assets | 9,452 | 9,201 | ' | ' |
Operating property and equipment | 13,928 | 13,469 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangibles, net of accumulated amortization | 844 | 812 | ' | ' |
Other assets | 2,016 | 2,130 | ' | ' |
Total other assets | 2,860 | 2,942 | ' | ' |
Total assets | 26,240 | 25,612 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | 9,590 | 9,852 | ' | ' |
Pension and postretirement benefits | 5,631 | 5,693 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 2,242 | 5,424 | ' | ' |
Negative investment in subsidiaries | 0 | 0 | ' | ' |
Other liabilities | 2,453 | 2,384 | ' | ' |
Total noncurrent liabilities | 19,916 | 23,353 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 951 | 957 | ' | ' |
Accounts payable | 1,230 | 1,013 | ' | ' |
Payable to affiliates | 2,843 | 2,807 | ' | ' |
Air traffic liability | 3,808 | 3,145 | ' | ' |
Frequent flyer liability | 1,761 | 1,760 | ' | ' |
Other accrued liabilities | 1,972 | 2,237 | ' | ' |
Total current liabilities | 12,565 | 11,919 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | 8,481 | 5,361 | ' | ' |
Accumulated other comprehensive loss | -2,254 | -2,152 | ' | ' |
Accumulated deficit | -12,468 | -12,869 | ' | ' |
Total stockholders’ equity (deficit) | -6,241 | -9,660 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | 26,240 | 25,612 | ' | ' |
US Airways Group (Parent Company Only) [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash | 1 | 1 | ' | ' |
Short-term investments | 0 | 0 | ' | ' |
Restricted cash and short-term investments | 0 | 0 | ' | ' |
Accounts receivable, net | 0 | 0 | ' | ' |
Receivables from related parties,net | 155 | 144 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 0 | 0 | ' | ' |
Prepaid expenses and other | 0 | 0 | ' | ' |
Total current assets | 156 | 145 | ' | ' |
Operating property and equipment | 0 | 0 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | 5,461 | 5,317 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangibles, net of accumulated amortization | 0 | 0 | ' | ' |
Other assets | 0 | 0 | ' | ' |
Total other assets | 5,461 | 5,317 | ' | ' |
Total assets | 5,617 | 5,462 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | 523 | 523 | ' | ' |
Pension and postretirement benefits | 0 | 0 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 0 | 0 | ' | ' |
Negative investment in subsidiaries | 0 | 0 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total noncurrent liabilities | 523 | 523 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 22 | 22 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Payable to affiliates | 421 | 408 | ' | ' |
Air traffic liability | 0 | 0 | ' | ' |
Frequent flyer liability | 0 | 0 | ' | ' |
Other accrued liabilities | 168 | 103 | ' | ' |
Total current liabilities | 611 | 533 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | 4,629 | 4,602 | ' | ' |
Accumulated other comprehensive loss | 11 | 12 | ' | ' |
Accumulated deficit | -157 | -208 | ' | ' |
Total stockholders’ equity (deficit) | 4,483 | 4,406 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | 5,617 | 5,462 | ' | ' |
US Airways [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash | 269 | 303 | ' | ' |
Short-term investments | 3,423 | 2,947 | ' | ' |
Restricted cash and short-term investments | 248 | 333 | ' | ' |
Accounts receivable, net | 473 | 357 | ' | ' |
Receivables from related parties,net | 444 | 407 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 330 | 296 | ' | ' |
Prepaid expenses and other | 989 | 857 | ' | ' |
Total current assets | 6,176 | 5,500 | ' | ' |
Operating property and equipment | 5,736 | 5,506 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Goodwill | 4,089 | 4,086 | ' | ' |
Intangibles, net of accumulated amortization | 1,475 | 1,496 | ' | ' |
Other assets | 136 | 131 | ' | ' |
Total other assets | 5,700 | 5,713 | ' | ' |
Total assets | 17,612 | 16,719 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | 5,158 | 5,005 | ' | ' |
Pension and postretirement benefits | 108 | 109 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 0 | 0 | ' | ' |
Negative investment in subsidiaries | 0 | 0 | ' | ' |
Other liabilities | 1,861 | 1,905 | ' | ' |
Total noncurrent liabilities | 7,127 | 7,019 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 468 | 467 | ' | ' |
Accounts payable | 374 | 304 | ' | ' |
Payable to affiliates | 84 | 50 | ' | ' |
Air traffic liability | 1,878 | 1,235 | ' | ' |
Frequent flyer liability | 1,190 | 1,245 | ' | ' |
Other accrued liabilities | 1,076 | 1,137 | ' | ' |
Total current liabilities | 5,070 | 4,438 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | 5,468 | 5,441 | ' | ' |
Accumulated other comprehensive loss | 11 | 12 | ' | ' |
Accumulated deficit | -64 | -191 | ' | ' |
Total stockholders’ equity (deficit) | 5,415 | 5,262 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | 17,612 | 16,719 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash | 5 | 6 | ' | ' |
Short-term investments | 3 | 2 | ' | ' |
Restricted cash and short-term investments | 0 | 0 | ' | ' |
Accounts receivable, net | 21 | 17 | ' | ' |
Receivables from related parties,net | 499 | 459 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 58 | 96 | ' | ' |
Prepaid expenses and other | 22 | 20 | ' | ' |
Total current assets | 608 | 600 | ' | ' |
Operating property and equipment | 280 | 284 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangibles, net of accumulated amortization | 0 | 3 | ' | ' |
Other assets | 32 | 30 | ' | ' |
Total other assets | 32 | 33 | ' | ' |
Total assets | 920 | 917 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | 0 | 0 | ' | ' |
Pension and postretirement benefits | 27 | 26 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 6 | 69 | ' | ' |
Negative investment in subsidiaries | 0 | 0 | ' | ' |
Other liabilities | 272 | 277 | ' | ' |
Total noncurrent liabilities | 305 | 372 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 0 | 0 | ' | ' |
Accounts payable | 42 | 51 | ' | ' |
Payable to affiliates | 224 | 213 | ' | ' |
Air traffic liability | 0 | 0 | ' | ' |
Frequent flyer liability | 0 | 0 | ' | ' |
Other accrued liabilities | 151 | 139 | ' | ' |
Total current liabilities | 417 | 403 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | 192 | 126 | ' | ' |
Accumulated other comprehensive loss | 0 | 0 | ' | ' |
Accumulated deficit | 6 | 16 | ' | ' |
Total stockholders’ equity (deficit) | 198 | 142 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | 920 | 917 | ' | ' |
Eliminations and Reclassifications [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash | 0 | 0 | ' | ' |
Short-term investments | 0 | 0 | ' | ' |
Restricted cash and short-term investments | 0 | 0 | ' | ' |
Accounts receivable, net | 0 | 0 | ' | ' |
Receivables from related parties,net | -3,572 | -3,478 | ' | ' |
Aircraft fuel, spare parts and supplies, net | 0 | 0 | ' | ' |
Prepaid expenses and other | -95 | -114 | ' | ' |
Total current assets | -3,667 | -3,592 | ' | ' |
Operating property and equipment | 0 | 0 | ' | ' |
Other assets | ' | ' | ' | ' |
Investment in subsidiaries | -5,461 | -5,317 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangibles, net of accumulated amortization | 0 | 0 | ' | ' |
Other assets | -34 | -34 | ' | ' |
Total other assets | -5,495 | -5,351 | ' | ' |
Total assets | -9,162 | -8,943 | ' | ' |
Liabilities, Noncurrent [Abstract] | ' | ' | ' | ' |
Long-term debt and capital leases, net of current maturities | -34 | -34 | ' | ' |
Pension and postretirement benefits | 0 | 0 | ' | ' |
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | 0 | 0 | ' | ' |
Negative investment in subsidiaries | -1,345 | -4,808 | ' | ' |
Other liabilities | -356 | -473 | ' | ' |
Total noncurrent liabilities | -1,735 | -5,315 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Current maturities of long-term debt and capital leases | 0 | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Payable to affiliates | -3,572 | -3,478 | ' | ' |
Air traffic liability | 0 | 0 | ' | ' |
Frequent flyer liability | 0 | 0 | ' | ' |
Other accrued liabilities | 0 | 0 | ' | ' |
Total current liabilities | -3,572 | -3,478 | ' | ' |
Stockholders’ equity (deficit) | ' | ' | ' | ' |
Common stock | 0 | 0 | ' | ' |
Additional paid-in capital | -18,770 | -15,530 | ' | ' |
Accumulated other comprehensive loss | 2,232 | 2,128 | ' | ' |
Accumulated deficit | 12,683 | 13,252 | ' | ' |
Total stockholders’ equity (deficit) | -3,855 | -150 | ' | ' |
Total liabilities and stockholders’ equity (deficit) | ($9,162) | ($8,943) | ' | ' |
Financial_Information_for_Subs5
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries-Cash Flows (Details) (USD $) | 3 Months Ended | 4 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $1,256 | $700 | ' |
Capital expenditures and aircraft purchase deposits | -1,047 | -885 | ' |
Increase in short-term investments | -294 | -226 | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 88 | -3 | ' |
Net proceeds from slot transaction | 307 | 0 | ' |
Proceeds from sale of property and equipment | 3 | 26 | ' |
Net cash used in investing activities | -943 | -1,088 | ' |
Payments on long-term debt and capital leases | -501 | -394 | ' |
Proceeds from issuance of long-term debt | 224 | 161 | ' |
Payments of employee withholding taxes on net share issuances | -84 | 0 | -380 |
Funds transferred from (to) affiliates | 0 | ' | ' |
Exercise of stock options | 9 | 0 | ' |
Deferred financing costs | -7 | -17 | ' |
Sale-leaseback transactions | 165 | 764 | ' |
Net cash provided by (used in) financing activities | -194 | 514 | ' |
Net increase (decrease) in cash | 119 | 126 | ' |
Cash at beginning of period | 1,140 | 480 | ' |
Cash at end of period | 1,259 | 606 | 1,259 |
American Airlines Group (Parent Company Only) [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | -9 | ' | ' |
Capital expenditures and aircraft purchase deposits | 0 | ' | ' |
Increase in short-term investments | 0 | ' | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 0 | ' | ' |
Net proceeds from slot transaction | 0 | ' | ' |
Proceeds from sale of property and equipment | 0 | ' | ' |
Net cash used in investing activities | 0 | ' | ' |
Payments on long-term debt and capital leases | 0 | ' | ' |
Proceeds from issuance of long-term debt | 0 | ' | ' |
Payments of employee withholding taxes on net share issuances | -84 | ' | ' |
Funds transferred from (to) affiliates | 84 | ' | ' |
Exercise of stock options | 9 | ' | ' |
Deferred financing costs | 0 | ' | ' |
Sale-leaseback transactions | 0 | ' | ' |
Net cash provided by (used in) financing activities | 9 | ' | ' |
Net increase (decrease) in cash | 0 | ' | ' |
Cash at beginning of period | 1 | ' | ' |
Cash at end of period | 1 | ' | 1 |
AA [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 742 | 696 | ' |
Capital expenditures and aircraft purchase deposits | -722 | -882 | ' |
Increase in short-term investments | 183 | -228 | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 3 | -3 | ' |
Net proceeds from slot transaction | 299 | 0 | ' |
Proceeds from sale of property and equipment | 3 | 26 | ' |
Net cash used in investing activities | -234 | -1,087 | ' |
Payments on long-term debt and capital leases | -430 | -392 | ' |
Proceeds from issuance of long-term debt | 0 | 161 | ' |
Payments of employee withholding taxes on net share issuances | 0 | ' | -380 |
Funds transferred from (to) affiliates | -84 | 0 | ' |
Exercise of stock options | 0 | ' | ' |
Deferred financing costs | -5 | -17 | ' |
Sale-leaseback transactions | 165 | 764 | ' |
Net cash provided by (used in) financing activities | -354 | 516 | ' |
Net increase (decrease) in cash | 154 | 125 | ' |
Cash at beginning of period | 829 | 474 | ' |
Cash at end of period | 983 | 599 | 983 |
US Airways Group (Parent Company Only) [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 0 | ' | ' |
Capital expenditures and aircraft purchase deposits | 0 | ' | ' |
Increase in short-term investments | 0 | ' | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 0 | ' | ' |
Net proceeds from slot transaction | 0 | ' | ' |
Proceeds from sale of property and equipment | 0 | ' | ' |
Net cash used in investing activities | 0 | ' | ' |
Payments on long-term debt and capital leases | 0 | ' | ' |
Proceeds from issuance of long-term debt | 0 | ' | ' |
Payments of employee withholding taxes on net share issuances | 0 | ' | ' |
Funds transferred from (to) affiliates | 0 | ' | ' |
Exercise of stock options | 0 | ' | ' |
Deferred financing costs | 0 | ' | ' |
Sale-leaseback transactions | 0 | ' | ' |
Net cash provided by (used in) financing activities | 0 | ' | ' |
Net increase (decrease) in cash | 0 | ' | ' |
Cash at beginning of period | 1 | ' | ' |
Cash at end of period | 1 | ' | 1 |
US Airways [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 515 | ' | ' |
Capital expenditures and aircraft purchase deposits | -316 | ' | ' |
Increase in short-term investments | -477 | ' | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 85 | ' | ' |
Net proceeds from slot transaction | 8 | ' | ' |
Proceeds from sale of property and equipment | 0 | ' | ' |
Net cash used in investing activities | -700 | ' | ' |
Payments on long-term debt and capital leases | -71 | ' | ' |
Proceeds from issuance of long-term debt | 224 | ' | ' |
Payments of employee withholding taxes on net share issuances | 0 | ' | ' |
Funds transferred from (to) affiliates | 0 | ' | ' |
Exercise of stock options | 0 | ' | ' |
Deferred financing costs | -2 | ' | ' |
Sale-leaseback transactions | 0 | ' | ' |
Net cash provided by (used in) financing activities | 151 | ' | ' |
Net increase (decrease) in cash | -34 | ' | ' |
Cash at beginning of period | 303 | ' | ' |
Cash at end of period | 269 | ' | 269 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 8 | ' | ' |
Capital expenditures and aircraft purchase deposits | -9 | ' | ' |
Increase in short-term investments | 0 | ' | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 0 | ' | ' |
Net proceeds from slot transaction | 0 | ' | ' |
Proceeds from sale of property and equipment | 0 | ' | ' |
Net cash used in investing activities | -9 | ' | ' |
Payments on long-term debt and capital leases | 0 | ' | ' |
Proceeds from issuance of long-term debt | 0 | ' | ' |
Payments of employee withholding taxes on net share issuances | 0 | ' | ' |
Funds transferred from (to) affiliates | 0 | ' | ' |
Exercise of stock options | 0 | ' | ' |
Deferred financing costs | 0 | ' | ' |
Sale-leaseback transactions | 0 | ' | ' |
Net cash provided by (used in) financing activities | 0 | ' | ' |
Net increase (decrease) in cash | -1 | ' | ' |
Cash at beginning of period | 6 | ' | ' |
Cash at end of period | 5 | ' | 5 |
Eliminations and Reclassifications [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 0 | ' | ' |
Capital expenditures and aircraft purchase deposits | 0 | ' | ' |
Increase in short-term investments | 0 | ' | ' |
Increase Decrease In Restricted Cash And Short Term Investments | 0 | ' | ' |
Net proceeds from slot transaction | 0 | ' | ' |
Proceeds from sale of property and equipment | 0 | ' | ' |
Net cash used in investing activities | 0 | ' | ' |
Payments on long-term debt and capital leases | 0 | ' | ' |
Proceeds from issuance of long-term debt | 0 | ' | ' |
Payments of employee withholding taxes on net share issuances | 0 | ' | ' |
Funds transferred from (to) affiliates | 0 | ' | ' |
Exercise of stock options | 0 | ' | ' |
Deferred financing costs | 0 | ' | ' |
Sale-leaseback transactions | 0 | ' | ' |
Net cash provided by (used in) financing activities | 0 | ' | ' |
Net increase (decrease) in cash | 0 | ' | ' |
Cash at beginning of period | 0 | ' | ' |
Cash at end of period | $0 | ' | $0 |
Subsequent_Events_Conversions_
Subsequent Events (Conversions of Stock) (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||||||||||||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Apr. 08, 2014 | Apr. 03, 2014 | Apr. 03, 2014 | Apr. 08, 2014 | Apr. 08, 2014 | Apr. 08, 2014 | Apr. 08, 2014 | Apr. 03, 2014 | Apr. 03, 2014 | Apr. 08, 2014 | Apr. 08, 2014 | Apr. 03, 2014 | Apr. 03, 2014 |
Common Stock [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
Series A Convertible Preferred [Member] | Series A Convertible Preferred [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | ||||||
Conversion of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares converted (shares) | ' | -17,230,000 | -294,000 | -30,000 | -17,554,000 | ' | ' | -17,230,000 | -294,000 | -30,000 | -17,554,000 | ' | ' | ' |
Increase (decrease) in AAG common shares outstanding (shares) | 118,000,000 | 141,000,000 | ' | ' | ' | 142,756,000 | 13,252,000 | ' | ' | ' | ' | 13,007,000 | 222,000 | 23,000 |
Reserve for disputed claims | ' | $335 | ' | ' | $335 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued per $1,000 in claims (shares) | ' | 30.7553 | ' | ' | 30.7553 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Single-dip distribution (shares) | ' | ' | ' | ' | ' | 48,219,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Labor distribution (shares) | ' | ' | ' | ' | ' | 8,902,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Legacy AAMRQ holders (shares) | ' | ' | ' | ' | ' | 72,383,000 | ' | ' | ' | ' | ' | ' | ' | ' |