Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 17, 2015 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | AAL | |
Entity Registrant Name | American Airlines Group Inc. | |
Entity Central Index Key | 6201 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 692,798,851 | |
American Airlines, Inc. [Member] | ||
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | AMERICAN AIRLINES INC | |
Entity Central Index Key | 4515 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | |
In Millions, except Share data in Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating revenues: | ||
Mainline passenger | $6,989 | $7,258 |
Regional passenger | 1,452 | 1,407 |
Cargo | 194 | 206 |
Other | 1,192 | 1,124 |
Total operating revenues | 9,827 | 9,995 |
Operating expenses: | ||
Aircraft fuel and related taxes | 1,544 | 2,711 |
Salaries, wages and benefits | 2,373 | 2,119 |
Regional expenses | 1,462 | 1,594 |
Maintenance, materials and repairs | 494 | 485 |
Other rent and landing fees | 408 | 424 |
Aircraft rent | 317 | 320 |
Selling expenses | 336 | 401 |
Depreciation and amortization | 336 | 307 |
Special items, net | 303 | -137 |
Other | 1,038 | 1,041 |
Total operating expenses | 8,611 | 9,265 |
Operating income | 1,216 | 730 |
Nonoperating income (expense): | ||
Interest income | 10 | 7 |
Interest expense, net of capitalized interest | -210 | -243 |
Other, net | -73 | -1 |
Total nonoperating expense, net | -273 | -237 |
Income before income taxes | 943 | 493 |
Income tax provision | 11 | 13 |
Net income | 932 | 480 |
Earnings per share: | ||
Basic | $1.34 | $0.66 |
Diluted | $1.30 | $0.65 |
Weighted average shares outstanding (in thousands): | ||
Basic | 696,415 | 723,971 |
Diluted | 716,930 | 741,335 |
Cash dividends declared per common share | $0.10 | |
American Airlines, Inc. [Member] | ||
Operating revenues: | ||
Mainline passenger | 4,690 | 4,906 |
Regional passenger | 699 | 669 |
Cargo | 162 | 168 |
Other | 818 | 726 |
Total operating revenues | 6,369 | 6,469 |
Operating expenses: | ||
Aircraft fuel and related taxes | 1,070 | 1,871 |
Salaries, wages and benefits | 1,585 | 1,398 |
Regional expenses | 728 | 758 |
Maintenance, materials and repairs | 304 | 332 |
Other rent and landing fees | 270 | 285 |
Aircraft rent | 225 | 216 |
Selling expenses | 235 | 284 |
Depreciation and amortization | 236 | 214 |
Special items, net | 198 | -216 |
Other | 758 | 749 |
Total operating expenses | 5,609 | 5,891 |
Operating income | 760 | 578 |
Nonoperating income (expense): | ||
Interest income | 6 | 7 |
Interest expense, net of capitalized interest | -126 | -168 |
Other, net | -63 | -5 |
Total nonoperating expense, net | -183 | -166 |
Income before income taxes | 577 | 412 |
Income tax provision | 8 | 11 |
Net income | $569 | $401 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net income | $932 | $480 |
Other comprehensive income (loss), before tax: | ||
Defined benefit pension plans and retiree medical | -27 | -45 |
Derivative financial instruments: | ||
Change in fair value | 0 | -67 |
Reclassification into earnings | -6 | 7 |
Unrealized gain on investments: | ||
Net change in value | 2 | 2 |
Other comprehensive income (loss) before tax | -31 | -103 |
Non-cash tax provision | 0 | 0 |
Comprehensive income | 901 | 377 |
American Airlines, Inc. [Member] | ||
Net income | 569 | 401 |
Other comprehensive income (loss), before tax: | ||
Defined benefit pension plans and retiree medical | -26 | -44 |
Derivative financial instruments: | ||
Change in fair value | 0 | -67 |
Reclassification into earnings | -6 | 7 |
Unrealized gain on investments: | ||
Net change in value | 1 | 2 |
Other comprehensive income (loss) before tax | -31 | -102 |
Non-cash tax provision | 0 | 0 |
Comprehensive income | $538 | $299 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Current assets | ||
Cash | $1,048 | $994 |
Short-term investments | 8,125 | 6,309 |
Restricted cash and short-term investments | 757 | 774 |
Accounts receivable, net | 1,826 | 1,771 |
Aircraft fuel, spare parts and supplies, net | 995 | 1,004 |
Prepaid expenses and other | 1,378 | 1,260 |
Total current assets | 14,129 | 12,112 |
Operating property and equipment | ||
Flight equipment | 29,273 | 28,213 |
Ground property and equipment | 6,013 | 5,900 |
Equipment purchase deposits | 1,265 | 1,230 |
Total property and equipment, at cost | 36,551 | 35,343 |
Less accumulated depreciation and amortization | -12,509 | -12,259 |
Total property and equipment, net | 24,042 | 23,084 |
Other assets | ||
Goodwill | 4,091 | 4,091 |
Intangibles, net of accumulated amortization | 2,281 | 2,240 |
Other assets | 2,211 | 2,244 |
Total other assets | 8,583 | 8,575 |
Total assets | 46,754 | 43,771 |
Current liabilities | ||
Current maturities of long-term debt and capital leases | 1,284 | 1,708 |
Accounts payable | 1,587 | 1,377 |
Accrued salaries and wages | 1,009 | 1,194 |
Air traffic liability | 5,415 | 4,252 |
Frequent flyer liability | 2,776 | 2,807 |
Other accrued liabilities | 2,162 | 2,097 |
Total current liabilities | 14,233 | 13,435 |
Noncurrent liabilities | ||
Long-term debt and capital leases, net of current maturities | 17,638 | 16,196 |
Pension and postretirement benefits | 7,517 | 7,562 |
Deferred gains and credits, net | 788 | 829 |
Bankruptcy settlement obligations | 275 | 325 |
Other liabilities | 3,539 | 3,403 |
Total noncurrent liabilities | 29,757 | 28,315 |
Commitments and contingencies | ||
Stockholders' equity (deficit) | ||
Common stock | 7 | 7 |
Additional paid-in capital | 15,049 | 15,135 |
Accumulated other comprehensive loss | -4,590 | -4,559 |
Accumulated deficit | -7,702 | -8,562 |
Total stockholders' equity (deficit) | 2,764 | 2,021 |
Total liabilities and stockholders' equity (deficit) | 46,754 | 43,771 |
American Airlines, Inc. [Member] | ||
Current assets | ||
Cash | 884 | 785 |
Short-term investments | 4,853 | 3,290 |
Restricted cash and short-term investments | 646 | 650 |
Accounts receivable, net | 1,437 | 1,445 |
Aircraft fuel, spare parts and supplies, net | 623 | 625 |
Prepaid expenses and other | 635 | 462 |
Total current assets | 9,078 | 7,257 |
Operating property and equipment | ||
Flight equipment | 22,462 | 21,646 |
Ground property and equipment | 5,326 | 5,217 |
Equipment purchase deposits | 1,199 | 1,128 |
Total property and equipment, at cost | 28,987 | 27,991 |
Less accumulated depreciation and amortization | -11,857 | -11,692 |
Total property and equipment, net | 17,130 | 16,299 |
Other assets | ||
Intangibles, net of accumulated amortization | 872 | 815 |
Other assets | 1,885 | 1,921 |
Total other assets | 2,757 | 2,736 |
Total assets | 28,965 | 26,292 |
Current liabilities | ||
Current maturities of long-term debt and capital leases | 802 | 1,230 |
Accounts payable | 1,175 | 1,029 |
Accrued salaries and wages | 591 | 650 |
Air traffic liability | 3,691 | 2,989 |
Frequent flyer liability | 2,776 | 1,823 |
Payable to affiliates | 2,168 | 2,563 |
Other accrued liabilities | 1,244 | 1,236 |
Total current liabilities | 12,447 | 11,520 |
Noncurrent liabilities | ||
Long-term debt and capital leases, net of current maturities | 10,972 | 10,004 |
Pension and postretirement benefits | 7,355 | 7,400 |
Deferred gains and credits, net | 277 | 271 |
Bankruptcy settlement obligations | 275 | 325 |
Other liabilities | 2,591 | 2,344 |
Total noncurrent liabilities | 21,470 | 20,344 |
Commitments and contingencies | ||
Stockholders' equity (deficit) | ||
Common stock | 0 | 0 |
Additional paid-in capital | 10,714 | 10,632 |
Accumulated other comprehensive loss | -4,676 | -4,645 |
Accumulated deficit | -10,990 | -11,559 |
Total stockholders' equity (deficit) | -4,952 | -5,572 |
Total liabilities and stockholders' equity (deficit) | $28,965 | $26,292 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, except Share data, unless otherwise specified | ||
Accumulated amortization of intangibles | $465 | $447 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 1,750,000,000 | 1,750,000,000 |
Common stock, shares issued | 693,800,651 | 697,474,535 |
Common stock, shares outstanding | 693,800,651 | 697,474,535 |
American Airlines, Inc. [Member] | ||
Accumulated amortization of intangibles | $379 | $376 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net cash provided by operating activities | $2,494 | $1,256 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | -1,409 | -1,047 |
Purchase of short-term investments | -3,474 | -1,176 |
Sales of short-term investments | 1,660 | 882 |
Decrease in restricted cash and short-term investments | 17 | 88 |
Net proceeds from slot transaction | 307 | |
Proceeds from sale of property and equipment | 4 | 3 |
Net cash used in investing activities | -3,202 | -943 |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | -746 | -501 |
Proceeds from issuance of long-term debt | 1,766 | 224 |
Deferred financing costs | -25 | -7 |
Sale-leaseback transactions | 165 | |
Exercise of stock options | 9 | |
Treasury stock repurchases | -181 | -84 |
Dividend payment | -70 | |
Other financing activities | 18 | |
Net cash provided by (used in) financing activities | 762 | -194 |
Net increase in cash | 54 | 119 |
Cash at beginning of period | 994 | 1,140 |
Cash at end of period | 1,048 | 1,259 |
Non-cash investing and financing activities: | ||
Settlement of bankruptcy obligations | 35 | 3,557 |
Capital lease obligations | 5 | 122 |
Supplemental information: | ||
Interest paid, net of amounts capitalized | 219 | 204 |
Income taxes paid | 3 | 3 |
American Airlines, Inc. [Member] | ||
Net cash provided by operating activities | 2,285 | 742 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | -1,160 | -722 |
Purchase of short-term investments | -1,945 | -499 |
Sales of short-term investments | 382 | 682 |
Decrease in restricted cash and short-term investments | 4 | 3 |
Net proceeds from slot transaction | 299 | |
Proceeds from sale of property and equipment | 4 | 3 |
Net cash used in investing activities | -2,715 | -234 |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | -680 | -430 |
Proceeds from issuance of long-term debt | 1,227 | |
Deferred financing costs | -18 | -5 |
Sale-leaseback transactions | 165 | |
Funds transferred to affiliates | -84 | |
Net cash provided by (used in) financing activities | 529 | -354 |
Net increase in cash | 99 | 154 |
Cash at beginning of period | 785 | 829 |
Cash at end of period | 884 | 983 |
Non-cash investing and financing activities: | ||
Settlement of bankruptcy obligations | 35 | 3,104 |
Capital lease obligations | 122 | |
Supplemental information: | ||
Interest paid, net of amounts capitalized | 189 | 170 |
Income taxes paid | $1 | $2 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Basis of Presentation | 1. Basis of Presentation |
The accompanying unaudited condensed consolidated financial statements of American Airlines Group Inc. (AAG or the Company) 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, 2014. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Principal subsidiaries include American Airlines, Inc. (American) and US Airways Group, Inc. (US Airways Group). All significant intercompany transactions have been eliminated. | |
On December 9, 2013 (the Effective Date), AMR Merger Sub, Inc. (Merger Sub) merged with and into US Airways Group (the Merger), with US Airways Group surviving as a wholly-owned subsidiary of AAG, a Delaware corporation (formerly known as AMR Corporation) following the Merger. “AMR” or “AMR Corporation” refers to the Company during the period of time prior to its emergence from Chapter 11 and the Effective Date of the Merger. | |
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 (GAAP) 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. | |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 completes the joint effort by the FASB and International Accounting Standards Board (IASB) to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards (IFRS). ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for public entities for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and entities have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application and not adjusting comparative information. The Company is currently evaluating the requirements of ASU 2014-09 and has not yet determined its impact on the Company’s condensed consolidated financial statements. | |
In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on the Company’s condensed consolidated financial statements. | |
American Airlines, Inc. [Member] | |
Basis of Presentation | 1. Basis of Presentation |
The accompanying unaudited condensed consolidated financial statements of American Airlines, Inc. (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, 2014. American is a wholly-owned subsidiary of American Airlines Group Inc. (AAG). 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 (GAAP) 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. | |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 completes the joint effort by the FASB and International Accounting Standards Board (IASB) to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards (IFRS). ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for public entities for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and entities have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application and not adjusting comparative information. American is currently evaluating the requirements of ASU 2014-09 and has not yet determined its impact on American’s condensed consolidated financial statements. | |
In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on American’s condensed consolidated financial statements. |
Emergence_from_Chapter_11_and_
Emergence from Chapter 11 and Merger with US Airways Group | 3 Months Ended |
Mar. 31, 2015 | |
Emergence from Chapter 11 and Merger with US Airways Group | 2. Emergence from Chapter 11 and Merger with US Airways Group |
Chapter 11 Reorganization | |
On November 29, 2011 (the Petition Date), AMR Corporation (AMR, renamed American Airlines Group Inc., upon the closing of the Merger), its principal subsidiary, 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 the Effective Date, the Debtors consummated their reorganization pursuant to the Plan, principally through the transactions contemplated by an Agreement and Plan of Merger (as amended, the Merger Agreement), dated as of February 13, 2013, by and among AMR, Merger Sub and US Airways Group, pursuant to which Merger Sub merged with and into US Airways Group, with US Airways Group surviving as a wholly-owned subsidiary of the Company following the Merger. | |
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 U.S. Bankruptcy Court. However, certain pending litigation related to pre-petition liabilities may proceed in courts other than the U.S. Bankruptcy Court to the extent the parties to such litigation have obtained relief from the permanent injunction. | |
In connection with the Chapter 11 Cases, trading in AMR’s common stock and certain debt securities on the New York Stock Exchange (NYSE) was suspended on January 5, 2012, and AMR’s common stock and such debt securities were delisted by the SEC from the NYSE on January 30, 2012. On January 5, 2012, AMR’s common stock began trading under the symbol “AAMRQ” (CUSIP 001765106) on the OTCQB marketplace, operated by OTC Markets Group. Pursuant to the Plan, on the Effective Date (i) all existing shares of AAG’s old common stock formerly traded under the symbol “AAMRQ” were canceled and (ii) the Company was authorized to issue up to approximately 544 million shares of common stock, par value $0.01 per share, of AAG (AAG Common Stock) by operation of the Plan (excluding shares of AAG Common Stock issuable pursuant to the Merger Agreement). On the Effective Date, the AAG Common Stock was listed on the NASDAQ Global Select Market under the symbol “AAL,” and AAMRQ ceased trading on the OTCQB marketplace. | |
Upon emergence from Chapter 11, AAG issued approximately 53 million shares of AAG Common Stock to AMR’s old equity holders and certain of the Debtors’ employees, and issued 168 million shares of AAG Series A Convertible Preferred Stock, par value $0.01 per share (the AAG Series A Preferred Stock), which was mandatorily convertible into new AAG Common Stock during the 120-day period after the Effective Date, to certain creditors and employees of the Debtors (including shares deposited in the Disputed Claims Reserve (as defined in the Plan)). In accordance with the terms of the Plan, former holders of AMR common stock (previously traded under the symbol “AAMRQ”) received, for each share of AMR common stock, an initial distribution of approximately 0.0665 shares of the AAG Common Stock as of the Effective Date. Following the Effective Date, former holders of AMR common stock and those deemed to be treated as such in connection with the elections made pursuant to the Plan have received through December 31, 2014, additional aggregate distributions of shares of AAG Common Stock of approximately 0.6776 shares of AAG Common Stock for each share of AMR common stock previously held, and may continue to receive additional distributions. As of the Effective Date, the adjusted total Double-Dip General Unsecured Claims (as defined in the Plan) were approximately $2.45 billion and the Allowed Single-Dip General Unsecured Claims (as defined in the Plan) were approximately $2.45 billion. | |
The Disputed Claims Reserve established under the Plan initially was issued 30.4 million shares, which shares are reserved for distributions to holders of disputed Single-Dip Unsecured Claims (Single-Dip Equity Obligations) whose claims ultimately become allowed as well as to certain AMR labor groups and employees who received a deemed claim amount based upon a fixed percentage of the distributions to be made to general unsecured claimholders. As of December 31, 2014, the Disputed Claims Reserve held 26.8 million shares of AAG Common Stock pending distribution of those shares in accordance with the Plan. On February 10, 2015, approximately 0.8 million shares of AAG Common Stock held in the Disputed Claims Reserve were distributed to holders of allowed Single-Dip Unsecured Claims, to holders of certain labor-related deemed claims, and to holders of certain non-management, non-union employee deemed claims as specified in the Plan, and the Company repurchased less than 0.1 million shares of AAG Common Stock for an aggregate of $4 million from the Disputed Claims Reserve at the then prevailing market price in order to fund cash tax obligations resulting from this distribution. As of March 31, 2015, there were approximately 26.0 million shares of AAG Common Stock remaining in the Disputed Claims Reserve. As disputed claims are resolved, the claimants will receive distributions of shares from the Disputed Claims 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 all remaining disputed claims, such shares will not be returned to the Company but rather will be distributed to former AMR shareholders as of the Effective Date. The Company is not required to distribute additional shares above the limits contemplated by the Plan. | |
Several parties have filed appeals seeking reconsideration of the Confirmation Order. See Note 13 for more information. | |
The reconciliation process with respect to the remaining claims will take considerable time post-emergence. The Company’s estimate of the amounts of disputed claims that will ultimately become allowed Single-Dip Unsecured Claims are included in bankruptcy settlement obligations on the Company’s condensed consolidated balance sheet as of March 31, 2015. As these claims are resolved, or where better information becomes available and is evaluated, the Company will make adjustments to the liabilities recorded on its 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. | |
Merger | |
Pursuant to the Merger Agreement and consistent with the Plan, each share of common stock, par value $0.01 per share, of US Airways Group (the US Airways Group Common Stock) was converted into the right to receive one share of AAG Common Stock. The aggregate number of shares of AAG Common Stock issuable in the Merger to holders of US Airways Group equity instruments (including stockholders, holders of convertible notes, optionees, and holders of restricted stock units (RSUs)) represented 28% of the diluted equity ownership of AAG. The remaining 72% diluted equity ownership in AAG (up to approximately 544 million shares) was or is distributable, pursuant to the Plan, to stakeholders, labor unions, certain employees of AMR and the other Debtors, and former holders of AMR common stock (previously traded under the symbol “AAMRQ”) such that the aggregate number of shares of AAG Common Stock issuable under the Plan will not exceed 72% of the diluted equity ownership of AAG as of the time of the Merger. | |
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 of 1986, as amended (Section 382), 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. The Debtors elected to be covered by certain special rules for federal income tax purposes that permit approximately $9.0 billion of the federal NOL Carryforwards to be utilized without regard to the annual limitation generally imposed by Section 382. | |
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 SEC on December 9, 2013. | |
American Airlines, Inc. [Member] | |
Emergence from Chapter 11 and Merger with US Airways Group | 2. Emergence from Chapter 11 |
Chapter 11 Reorganization | |
On November 29, 2011 (the Petition Date), AMR Corporation (AMR, renamed American Airlines Group Inc., upon the closing of the Merger), its principal subsidiary, 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 an Agreement and Plan of Merger (as amended, the Merger Agreement), dated as of February 13, 2013, by and among AMR, 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. | |
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 U.S. Bankruptcy Court. However, certain pending litigation related to pre-petition liabilities may proceed in courts other than the U.S. Bankruptcy Court to the extent the parties to such litigation have obtained relief from the permanent injunction. | |
In connection with the Chapter 11 Cases, trading in AMR’s common stock and certain debt securities on the New York Stock Exchange (NYSE) was suspended on January 5, 2012, and AMR’s common stock and such debt securities were delisted by the SEC from the NYSE on January 30, 2012. On January 5, 2012, AMR’s common stock began trading under the symbol “AAMRQ” (CUSIP 001765106) on the OTCQB marketplace, operated by OTC Markets Group. Pursuant to the Plan, on the Effective Date (i) all existing shares of AAG’s old common stock formerly traded under the symbol “AAMRQ” were canceled and (ii) AAG was authorized to issue up to approximately 544 million shares of common stock, par value $0.01 per share, of AAG (AAG Common Stock) by operation of the Plan (excluding shares of AAG Common Stock issuable pursuant to the Merger Agreement). On the Effective Date, the AAG Common Stock was listed on the NASDAQ Global Select Market under the symbol “AAL,” and AAMRQ ceased trading on the OTCQB marketplace. | |
Upon emergence from Chapter 11, AAG issued approximately 53 million shares of AAG Common Stock to AMR’s old equity holders and certain of the Debtors’ employees, and issued 168 million shares of AAG Series A Convertible Preferred Stock, par value $0.01 per share (the AAG Series A Preferred Stock), which was mandatorily convertible into new AAG Common Stock during the 120-day period after the Effective Date, to certain creditors and employees of the Debtors (including shares deposited in the Disputed Claims Reserve (as defined in the Plan)). In accordance with the terms of the Plan, former holders of AMR common stock (previously traded under the symbol “AAMRQ”) received, for each share of AMR common stock, an initial distribution of approximately 0.0665 shares of the AAG Common Stock as of the Effective Date. Following the Effective Date, former holders of AMR common stock and those deemed to be treated as such in connection with the elections made pursuant to the Plan have received through December 31, 2014, additional aggregate distributions of shares of AAG Common Stock of approximately 0.6776 shares of AAG Common Stock for each share of AMR common stock previously held, and may continue to receive additional distributions. As of the Effective Date, the adjusted total Double-Dip General Unsecured Claims (as defined in the Plan) were approximately $2.45 billion and the Allowed Single-Dip General Unsecured Claims (as defined in the Plan) were approximately $2.45 billion. | |
The Disputed Claims Reserve established under the Plan initially was issued 30.4 million shares, which shares are reserved for distributions to holders of disputed Single-Dip Unsecured Claims (Single-Dip Equity Obligations) whose claims ultimately become allowed as well as to certain AMR labor groups and employees who received a deemed claim amount based upon a fixed percentage of the distributions to be made to general unsecured claimholders. As of December 31, 2014, the Disputed Claims Reserve held 26.8 million shares of AAG Common Stock pending distribution of those shares in accordance with the Plan. On February 10, 2015, approximately 0.8 million shares of AAG Common Stock held in the Disputed Claims Reserve were distributed to holders of allowed Single-Dip Unsecured Claims, to holders of certain labor-related deemed claims, and to holders of certain non-management, non-union employee deemed claims as specified in the Plan, and American repurchased less than 0.1 million shares of AAG Common Stock for an aggregate of $4 million from the Disputed Claims Reserve at the then prevailing market price in order to fund cash tax obligations resulting from this distribution. As of March 31, 2015, there were approximately 26 million shares of AAG Common Stock remaining in the Disputed Claims Reserve. As disputed claims are resolved, the claimants will receive distributions of shares from the Disputed Claims 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 all remaining disputed claims, such shares will not be returned to AAG but rather will be distributed to former AMR shareholders as of the Effective Date. American is not required to distribute additional shares above the limits contemplated by the Plan. | |
Several parties have filed appeals seeking reconsideration of the Confirmation Order. See Note 12 for more information. | |
The reconciliation process with respect to the remaining claims will take considerable time post-emergence. American’s estimate of the amounts of disputed claims that will ultimately become allowed Single-Dip Unsecured Claims are included in bankruptcy settlement obligations on American’s condensed consolidated balance sheet as of March 31, 2015. As these claims are resolved, or where better information becomes available and is evaluated, American will make adjustments to the liabilities recorded on its 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 of 1986, as amended (Section 382), 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. American elected to be covered by certain special rules for federal income tax purposes that permit approximately $9.5 billion of the federal NOL Carryforwards to be utilized without regard to the annual limitation generally imposed by Section 382. | |
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 SEC on December 9, 2013. |
Bankruptcy_Settlement_Obligati
Bankruptcy Settlement Obligations | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Bankruptcy Settlement Obligations | 3. Bankruptcy Settlement Obligations | ||||||||
The components of bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Single-Dip Equity Obligations | $ | 210 | $ | 248 | |||||
Labor-related deemed claim | 65 | 77 | |||||||
Total | $ | 275 | $ | 325 | |||||
The amount of the remaining Single-Dip Equity Obligations at March 31, 2015 is the Company’s estimate of its obligation for disputed claims of $210 million and is calculated based on the fair value of the shares expected to be issued, measured as if the obligations were settled using the closing price of AAG Common Stock at March 31, 2015. Additional 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. For accounting purposes, the value of the shares expected to be issued is marked-to-market each period until issued. Accordingly, changes in the value of AAG Common Stock could result in future increases and decreases in this obligation. | |||||||||
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. As of March 31, 2015, the remaining liability to certain AMR labor groups and employees of $65 million represents the estimated fair value of the remaining shares expected to be issued in satisfaction of such obligation, measured as if the obligation were settled using the closing price of AAG Common Stock at March 31, 2015. For accounting purposes, the value of the remaining shares expected to be issued to satisfy the labor claim is marked-to-market each period until issued. Accordingly, changes in the value of AAG Common Stock could result in future increases and decreases in this obligation. | |||||||||
As described above, on February 10, 2015, approximately 0.8 million shares of AAG Common Stock held in the Disputed Claims Reserve were distributed to holders of allowed Single-Dip Unsecured Claims, to holders of certain labor-related deemed claims and to holders of certain non-management, non-union employee deemed claims as specified in the Plan, and shares were withheld or sold on account of related tax obligations. | |||||||||
American Airlines, Inc. [Member] | |||||||||
Bankruptcy Settlement Obligations | 3. Bankruptcy Settlement Obligations | ||||||||
The components of bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Single-Dip and Double-Dip Equity Obligations | $ | 210 | $ | 248 | |||||
Labor-related deemed claim | 65 | 77 | |||||||
Total | $ | 275 | $ | 325 | |||||
The amount of the remaining Single-Dip Equity Obligations at March 31, 2015 is American’s estimate of its obligation for disputed claims of $210 million and is calculated based on the fair value of the shares expected to be issued, measured as if the obligations were settled using the closing price of AAG Common Stock at March 31, 2015. Additional 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. For accounting purposes, the value of the shares expected to be issued is marked-to-market each period until issued. Accordingly, changes in the value of AAG Common Stock could result in future increases and decreases in this obligation. | |||||||||
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. As of March 31, 2015, the remaining liability to certain AMR labor groups and employees of $65 million represents the estimated fair value of the remaining shares expected to be issued in satisfaction of such obligation, measured as if the obligation were settled using the closing price of AAG Common Stock at March 31, 2015. For accounting purposes, the value of the remaining shares expected to be issued to satisfy the labor claim is marked-to-market each period until issued. Accordingly, changes in the value of AAG Common Stock could result in future increases and decreases in this obligation. | |||||||||
As described above, on February 10, 2015, approximately 0.8 million shares of AAG Common Stock held in the Disputed Claims Reserve were distributed to holders of allowed Single-Dip Unsecured Claims, to holders of certain labor-related deemed claims and to holders of certain non-management, non-union employee deemed claims as specified in the Plan, and shares were withheld or sold on account of related tax obligations. |
Special_Items
Special Items | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Special Items | 4. Special Items | ||||||||
Special items, net on the condensed consolidated statements of operations are as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Mainline operating special items, net (a) | $ | 303 | $ | (137 | ) | ||||
(a) | The 2015 first quarter mainline operating special items totaled a net charge of $303 million, which principally included $216 million of merger integration expenses related to information technology, professional fees, severance, share-based compensation, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training. In addition, the Company recorded a net $99 million charge principally related to its new pilot joint collective bargaining agreement. These charges were offset in part by a net $6 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. | ||||||||
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 Ronald Reagan Washington National Airport and a net $32 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $202 million of merger integration expenses related to alignment of labor union contracts, information technology, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training. | |||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Regional operating special items, net(a) | $ | 7 | $ | 4 | |||||
Nonoperating special items, net (b) | (8 | ) | 47 | ||||||
Income tax special items, net (c) | 9 | 8 | |||||||
(a) | The 2015 and 2014 first quarter regional operating special items principally related to merger integration expenses. | ||||||||
(b) | The 2015 first quarter nonoperating special items totaled a net credit of $8 million primarily due to a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank, offset in part by a $9 million charge principally related to a non-cash write off of unamortized debt discount associated with the prepayment of certain aircraft financings. | ||||||||
The 2014 first quarter nonoperating special items totaled a net charge of $47 million principally due to non-cash interest accretion of $31 million on the bankruptcy settlement obligations and $13 million for Venezuelan foreign currency losses. | |||||||||
(c) | The 2015 and 2014 first quarter tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. | ||||||||
American Airlines, Inc. [Member] | |||||||||
Special Items | 4. Special Items | ||||||||
Special items, net on the condensed consolidated statements of operations are as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Mainline operating special items, net (a) | $ | 198 | $ | (216 | ) | ||||
(a) | The 2015 first quarter mainline operating special items totaled a net charge of $198 million, which principally included $148 million of merger integration expenses related to information technology, professional fees, severance, share-based compensation, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training. In addition, American recorded a net $64 million charge principally related to its new pilot joint collective bargaining agreement. These charges were offset in part by a net $6 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. | ||||||||
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 Ronald Reagan Washington National Airport and a net $56 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $134 million of merger integration expenses related to alignment of labor union contracts, information technology, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training. | |||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Regional operating special items, net(a) | $ | 2 | $ | 1 | |||||
Nonoperating special items, net (b) | (8 | ) | 44 | ||||||
Income tax special items, net (c) | 8 | 7 | |||||||
(a) | The 2015 and 2014 first quarter regional operating special items principally related to merger integration expenses. | ||||||||
(b) | The 2015 first quarter nonoperating special items totaled a net credit of $8 million primarily due to a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank, offset in part by a $9 million charge principally related to a non-cash write off of unamortized debt discount associated with the prepayment of certain aircraft financings. | ||||||||
The 2014 first quarter nonoperating special items totaled a net charge of $44 million principally due to non-cash interest accretion of $27 million on the bankruptcy settlement obligations and $13 million for Venezuelan foreign currency losses. | |||||||||
(c) | The 2015 and 2014 first quarter tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings Per Share | 5. Earnings Per Share | ||||||||
The following table sets forth the computation of basic and diluted earnings per share (EPS) (in millions, except share and per share amounts in thousands): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Basic EPS: | |||||||||
Net income | $ | 932 | $ | 480 | |||||
Weighted-average common shares outstanding (in thousands) | 696,415 | 723,971 | |||||||
Basic EPS | $ | 1.34 | $ | 0.66 | |||||
Diluted EPS: | |||||||||
Net income | $ | 932 | $ | 480 | |||||
Change in fair value of conversion feature on 7.25% convertible senior notes (a) | — | 5 | |||||||
Net income for purposes of computing diluted EPS | $ | 932 | $ | 485 | |||||
Share computation for diluted earnings per share (in thousands): | |||||||||
Weighted-average shares outstanding | 696,415 | 723,971 | |||||||
Dilutive effect of stock awards | 20,515 | 13,534 | |||||||
Assumed conversion of convertible senior notes | — | 3,830 | |||||||
Weighted average common shares outstanding | 716,930 | 741,335 | |||||||
Diluted earnings per share | $ | 1.3 | $ | 0.65 | |||||
The following were excluded from the calculation of diluted EPS (in thousands): | |||||||||
Stock options, SARs and RSUs because inclusion would be antidilutive | 1 | 33 | |||||||
(a) | In March 2014, the Company notified the holders of US Airways Group’s 7.25% convertible senior notes that it had 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 included 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 was required to 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 for the three months ended March 31, 2014. |
Share_Repurchase_Program_and_D
Share Repurchase Program and Dividend | 3 Months Ended |
Mar. 31, 2015 | |
Equity [Abstract] | |
Share Repurchase Program and Dividend | 6. Share Repurchase Program and Dividend |
On January 27, 2015, the Company announced that its Board of Directors had authorized a new $2.0 billion share repurchase program to be completed by the end of 2016. Shares repurchased under the program may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades or accelerated share repurchase transactions. Any such repurchases will be made from time to time subject to market and economic conditions, applicable legal requirements and other relevant factors. The program does not obligate the Company to repurchase any specific number of shares and may be suspended at any time at the Company’s discretion. During the three months ended March 31, 2015, the Company repurchased 3.8 million shares of AAG Common Stock for $190 million at a weighted average cost per share of $49.47. | |
Also on January 27, 2015, the Company announced that its Board of Directors had declared a $0.10 per share dividend for shareholders of record on February 9, 2015, and payable on February 23, 2015. The total cash payment for dividends during the three months ended March 31, 2015 was $70 million. Any future dividends that may be declared and paid from time to time under the Company’s capital deployment program will be subject to market and economic conditions, applicable legal requirements and other relevant factors. The Company’s capital deployment program does not obligate it to continue a dividend for any fixed period, and payment of dividends may be suspended at any time at the Company’s discretion. |
Debt
Debt | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt | 7. Debt | ||||||||
Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Secured | |||||||||
2013 Credit Facilities, variable interest rate of 3.75%, installments through 2019 | $ | 1,867 | $ | 1,872 | |||||
2014 Credit Facilities, variable interest rate of 4.25%, installments through 2021 | 750 | 750 | |||||||
2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 | 990 | 990 | |||||||
2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 | 594 | 594 | |||||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 9.75%, maturing from 2015 to 2027 | 7,912 | 7,028 | |||||||
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.50% to 8.48%, maturing from 2015 to 2027 | 3,025 | 2,952 | |||||||
Special facility revenue bonds, fixed interest rates ranging from 5.50% to 8.50%, maturing from 2016 to 2035 | 1,100 | 1,100 | |||||||
AAdvantage Loan, effective rate of 8.30% | — | 433 | |||||||
Other secured obligations, fixed interest rates ranging from 3.60% to 12.24%, maturing from 2015 to 2028 | 983 | 994 | |||||||
17,221 | 16,713 | ||||||||
Unsecured | |||||||||
5.50% senior notes, interest only payments until due in 2019 | 750 | 750 | |||||||
6.125% senior notes, interest only payments until due in 2018 | 500 | 500 | |||||||
4.625% senior notes, interest only payments until due in 2020 | 500 | — | |||||||
1,750 | 1,250 | ||||||||
Total long-term debt and capital lease obligations | 18,971 | 17,963 | |||||||
Less: Total unamortized debt discount | 49 | 59 | |||||||
Less: Current maturities | 1,284 | 1,708 | |||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 17,638 | $ | 16,196 | |||||
2015-1 EETCs | |||||||||
In March 2015, American created two pass-through trusts which issued approximately $1.2 billion aggregate face amount of Series 2015-1 Class A and Class B EETCs in connection with the financing of 28 aircraft currently owned or scheduled to be delivered from July 2015 to September 2015 (the 2015 EETC Aircraft). The 2015-1 EETCs represent fractional undivided interests in the respective pass-through trusts and are not obligations of American. Proceeds received from the sale of EETCs are initially held by a depository in escrow for the benefit of the certificate holders until American issues equipment notes to the pass-through trusts, which purchase the notes with a portion of the escrowed funds. These escrowed funds are not guaranteed by American and are not reported as debt on the Company’s condensed consolidated balance sheet because the proceeds held by the depository are not American’s assets. | |||||||||
As of March 31, 2015, $1.0 billion of the escrowed proceeds from the 2015-1 EETCs have been used to purchase equipment notes issued by American in two series: Series A equipment notes in the amount of $796 million bearing interest at 3.375% per annum and Series B equipment notes in the amount of $223 million bearing interest at 3.70% per annum. Interest and principal payments on the equipment notes are payable semiannually in May and November of each year, beginning in November 2015. The final payments on the Series A and Series B equipment notes will be due in May 2027 and May 2023, respectively. These equipment notes are secured by liens on 19 of the 2015 EETC Aircraft. The remaining $195 million of escrowed proceeds will be used to purchase equipment notes as the remaining nine new aircraft are delivered. | |||||||||
4.625% Senior Notes | |||||||||
In March 2015, the Company issued $500 million aggregate principal amount of 4.625% senior notes due 2020 (the 4.625% senior notes). These notes bear interest at a rate of 4.625% per annum and are payable semi-annually in arrears on each March 1 and September 1, beginning on September 1, 2015. The 4.625% senior notes mature on March 1, 2020 and are fully and unconditionally guaranteed by American, US Airways Group and US Airways. The 4.625% senior notes are senior unsecured obligations of the Company. The indenture for the 4.625% senior notes contains covenants and events of default generally customary for similar financings. In addition, if the Company experiences specific kinds of changes of control, the Company must offer to repurchase the 4.625% senior notes in whole or in part at a repurchase price of 101% of the aggregate principal amount plus accrued and unpaid interest, if any, to (but not including) the repurchase date. Upon the occurrence of certain events of default, the 4.625% senior notes may be accelerated and become due and payable. | |||||||||
Other Aircraft Financing Transactions | |||||||||
In the first quarter of 2015, the Company entered into loan agreements to borrow $247 million in connection with the financing of certain aircraft deliveries. The notes mature in 2025 through 2027 and bear interest at a rate of LIBOR plus an applicable margin. | |||||||||
AAdvantage Loan | |||||||||
American had the right to repay in cash, without premium or penalty, any or all of the amounts owed to Citibank under the AAdvantage Loan. Effective January 2, 2015, American exercised its loan repayment right with respect to the full value of the outstanding balance to Citibank for $400 million. In connection with the repayment, in the first quarter of 2015, American recognized an early debt extinguishment gain of approximately $17 million. | |||||||||
American Airlines, Inc. [Member] | |||||||||
Debt | 5. Debt | ||||||||
Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Secured | |||||||||
2013 Credit Facilities, variable interest rate of 3.75%, installments through 2019 | $ | 1,867 | $ | 1,872 | |||||
2014 Credit Facilities, variable interest rate of 4.25%, installments through 2021 | 750 | 750 | |||||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 7.00%, maturing from 2017 to 2027 | 5,186 | 4,271 | |||||||
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.50% to 8.10%, maturing from 2015 to 2026 | 1,927 | 1,860 | |||||||
Special facility revenue bonds, fixed interest rates ranging from 5.50% to 8.50%, maturing from 2016 to 2035 | 1,071 | 1,071 | |||||||
AAdvantage Loan, effective rate of 8.30% | — | 433 | |||||||
Other secured obligations, fixed interest rates ranging from 4.19% to 12.24%, maturing from 2015 to 2028 | 977 | 992 | |||||||
11,778 | 11,249 | ||||||||
Unsecured | |||||||||
Affiliate unsecured obligations | 27 | 27 | |||||||
27 | 27 | ||||||||
Total long-term debt and capital lease obligations | 11,805 | 11,276 | |||||||
Less: Total unamortized debt discount | 31 | 42 | |||||||
Less: Current maturities | 802 | 1,230 | |||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 10,972 | $ | 10,004 | |||||
2015-1 EETCs | |||||||||
In March 2015, American created two pass-through trusts which issued approximately $1.2 billion aggregate face amount of Series 2015-1 Class A and Class B EETCs in connection with the financing of 28 aircraft currently owned or scheduled to be delivered from July 2015 to September 2015 (the 2015 EETC Aircraft). The 2015-1 EETCs represent fractional undivided interests in the respective pass-through trusts and are not obligations of American. Proceeds received from the sale of EETCs are initially held by a depository in escrow for the benefit of the certificate holders until American issues equipment notes to the pass-through trusts, which purchase the notes with a portion of the escrowed funds. These escrowed funds are not guaranteed by American and are not reported as debt on American’s condensed consolidated balance sheet because the proceeds held by the depository are not American’s assets. | |||||||||
As of March 31, 2015, $1.0 billion of the escrowed proceeds from the 2015-1 EETCs have been used to purchase equipment notes issued by American in two series: Series A equipment notes in the amount of $796 million bearing interest at 3.375% per annum and Series B equipment notes in the amount of $223 million bearing interest at 3.70% per annum. Interest and principal payments on the equipment notes are payable semiannually in May and November of each year, beginning in November 2015. The final payments on the Series A and Series B equipment notes will be due in May 2027 and May 2023, respectively. These equipment notes are secured by liens on 19 of the 2015 EETC Aircraft. The remaining $195 million of escrowed proceeds will be used to purchase equipment notes as the remaining nine new aircraft are delivered. | |||||||||
Other Aircraft Financing Transactions | |||||||||
In the first quarter of 2015, American entered into loan agreements to borrow $208 million in connection with the financing of certain aircraft deliveries. The notes mature in 2025 and 2026 and bear interest at a rate of LIBOR plus an applicable margin. | |||||||||
AAdvantage Loan | |||||||||
American had the right to repay in cash, without premium or penalty, any or all of the amounts owed to Citibank under the AAdvantage Loan. Effective January 2, 2015, American exercised its loan repayment right with respect to the full value of the outstanding balance to Citibank for $400 million. In connection with the repayment, in the first quarter of 2015, American recognized an early debt extinguishment gain of approximately $17 million. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Taxes | 8. Income Taxes |
At December 31, 2014, the Company had approximately $10.1 billion of gross NOL Carryforwards to reduce future federal taxable income, substantially all of which are expected to be available for use in 2015. The federal NOL Carryforwards will expire beginning in 2022 if unused. These NOL Carryforwards include an unrealized tax benefit of $867 million related to the implementation of share-based compensation accounting guidance that will be recorded in equity when realized. The Company also had approximately $4.6 billion of NOL Carryforwards to reduce future state taxable income at December 31, 2014, which will expire in years 2015 through 2034 if unused. The Company’s ability to deduct its NOL Carryforwards and to utilize certain other available tax attributes can be substantially constrained under the general annual limitation rules of Section 382 where an “ownership change” has occurred. The Company experienced an ownership change in connection with its emergence from the Chapter 11 Cases, and US Airways Group experienced an ownership change in connection with the Merger. As a result of the Merger, US Airways Group is now included in the AAG consolidated federal and state income tax return. The general limitation rules of Section 382 for a debtor in a bankruptcy case are liberalized where the ownership change occurs upon emergence from bankruptcy. The Company elected to be covered by certain special rules for federal income tax purposes that permit approximately $9.0 billion of its federal NOL Carryforwards to be utilized without regard to the Section 382 annual limitation rules. Substantially all of the Company’s remaining federal NOL Carryforwards (attributable to US Airways Group) are subject to limitation under Section 382; however, the Company’s ability to utilize such NOL Carryforwards is not anticipated to be effectively constrained as a result of such limitation. Similar limitations may apply for state income tax purposes. The Company’s ability to utilize any new NOL Carryforwards arising after the ownership changes is not affected by the annual limitation rules imposed by Section 382 unless another ownership change occurs. | |
At December 31, 2014, the Company had an Alternative Minimum Tax (AMT) credit carryforward of approximately $341 million available for federal income tax purposes, which is available for an indefinite period. The Company’s net deferred tax assets, which include the NOL Carryforwards, are subject to a full valuation allowance. At December 31, 2014, the federal and state valuation allowances were $4.5 billion and $264 million, respectively. In accordance with GAAP, utilization of the NOL Carryforwards after December 9, 2013 will result in a corresponding decrease in the valuation allowance and offset the Company’s tax provision dollar for dollar. | |
The Company provides a valuation allowance for deferred tax assets when it is more likely than not that some portion, or all of its deferred tax assets, will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. The Company considers all available positive and negative evidence and makes certain assumptions. The Company considers many factors in evaluating the realizability of its deferred tax assets including risks associated with merger integration as well as other factors, which continue to be affected by conditions beyond its control, such as the condition of the economy, the level and volatility of fuel prices and travel demand. The Company has concluded as of March 31, 2015 that the valuation allowance was still needed on its deferred tax asset based on the weight of the factors described above. | |
For the three months ended March 31, 2015, the Company recorded a special $9 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets and $2 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, 2014, 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. | |
American Airlines, Inc. [Member] | |
Income Taxes | 6. Income Taxes |
At December 31, 2014, American had approximately $10.3 billion of gross NOL Carryforwards to reduce future federal taxable income, substantially all of which are expected to be available for use in 2015. American is a member of AAG’s consolidated federal and certain state income tax returns. The amount of federal and state NOL Carryforwards available in those returns is $10.1 billion and $4.6 billion, respectively, substantially all of which is expected to be available for use in 2015. The federal NOL Carryforwards will expire beginning in 2022 if unused. These NOL Carryforwards include an unrealized tax benefit of $712 million related to the implementation of share-based compensation accounting guidance that will be recorded in equity when realized. American also had approximately $3.9 billion of NOL Carryforwards to reduce future state taxable income at December 31, 2014, which will expire in years 2015 through 2034 if unused. American’s ability to deduct its NOL Carryforwards and to utilize certain other available tax attributes can be substantially constrained under the general annual limitation rules of Section 382 where an “ownership change” has occurred. American experienced an ownership change in connection with its emergence from the Chapter 11 Cases. The general limitation rules of Section 382 for a debtor in a bankruptcy case are liberalized where the ownership change occurs upon emergence from bankruptcy. American elected to be covered by certain special rules for federal income tax purposes that permit approximately $9.5 billion of its federal NOL Carryforwards to be utilized without regard to the Section 382 annual limitation rules. Similar limitations may apply for state income tax purposes. American’s ability to utilize any new NOL Carryforwards arising after the ownership change is not affected by the annual limitation rules imposed by Section 382 unless another ownership change occurs. | |
At December 31, 2014, American had an AMT credit carryforward of approximately $435 million available for federal income tax purposes, which is available for an indefinite period. American’s net deferred tax assets, which include the NOL Carryforwards, are subject to a full valuation allowance. At December 31, 2014, the federal and state valuation allowances were $5.1 billion and $208 million, respectively. In accordance with GAAP, utilization of the NOL Carryforwards after December 9, 2013 will result in a corresponding decrease in the valuation allowance and offset American’s tax provision dollar for dollar. | |
American provides a valuation allowance for deferred tax assets when it is more likely than not that some portion, or all of its deferred tax assets, will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. American considers all available positive and negative evidence and makes certain assumptions. American considers many factors in evaluating the realizability of its deferred tax assets including risks associated with merger integration as well as other factors, which continue to be affected by conditions beyond American’s control, such as the condition of the economy, the level and volatility of fuel prices and travel demand. American has concluded as of March 31, 2015 that the valuation allowance was still needed on its deferred tax asset based on the weight of the factors described above. | |
For the three months ended March 31, 2015, American recorded a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. | |
For the three months ended March 31, 2014, 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. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Measurements | 9. 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. No changes in valuation techniques or inputs occurred during the three months ended March 31, 2015. | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): | |||||||||||||||||
Fair Value Measurements as of March 31, 2015 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Short-term investments (1), (2): | |||||||||||||||||
Money market funds | $ | 1,130 | $ | 1,130 | $ | — | $ | — | |||||||||
Government agency investments | 101 | — | 101 | — | |||||||||||||
Repurchase agreements | 46 | — | 46 | — | |||||||||||||
Corporate obligations | 4,110 | — | 4,110 | — | |||||||||||||
Bank notes / certificates of deposit / time deposits | 2,738 | — | 2,738 | — | |||||||||||||
8,125 | 1,130 | 6,995 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 757 | 757 | — | — | |||||||||||||
Total | $ | 8,882 | $ | 1,887 | $ | 6,995 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments and restricted cash and short-term investments are recorded in accumulated other comprehensive loss at each measurement date. | ||||||||||||||||
(2) | The Company’s short-term investments mature in one year or less except for $1.0 billion of corporate obligations and $990 million of bank notes/certificates of deposit/time deposits. | ||||||||||||||||
There were no Level 1 to Level 2 transfers during the three months ended March 31, 2015. | |||||||||||||||||
All 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 loss. | |||||||||||||||||
Venezuela Cash and Short-term Investments | |||||||||||||||||
As of March 31, 2015, the Company had approximately $644 million of unrestricted cash and short-term investments held in Venezuelan bolivars. This balance includes approximately $621 million valued at 6.3 bolivars to the U.S. dollar and approximately $23 million valued at 12.0 bolivars to the U.S. dollar, with the rate depending on the date the Company submitted its repatriation request to the Venezuelan government. These rates are materially more favorable than the exchange rates currently prevailing for other transactions conducted outside of the Venezuelan government’s currency exchange system. The Company’s cash balance held in Venezuelan bolivars decreased $12 million from the December 31, 2014 balance of $656 million, due to payments made in bolivars for local operating expenditures. | |||||||||||||||||
During 2014, the Company significantly reduced capacity in the Venezuelan market and is no longer accepting bolivars as payment for airline tickets. The Company is monitoring this situation closely and continues to evaluate its holdings of Venezuelan bolivars for additional foreign currency losses or other accounting adjustments, which could be material, particularly in light of the additional uncertainty posed by the February 2015 changes to the foreign exchange regulations and the continued deterioration of economic conditions in Venezuela. More generally, fluctuations in foreign currencies, including devaluations, cannot be predicted by the Company and can significantly affect the value of the Company’s assets located outside the United States. These conditions, as well as any further delays, devaluations or imposition of more stringent repatriation restrictions, may materially adversely affect the Company’s business, results of operations and financial condition. 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 this and other currency risks. | |||||||||||||||||
Fair Value of Debt | |||||||||||||||||
The fair value of the Company’s long-term debt was 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. | |||||||||||||||||
The carrying value and estimated fair value of the Company’s long-term debt, including current maturities, were as follows (in millions): | |||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 18,922 | $ | 19,640 | $ | 17,904 | $ | 18,542 | |||||||||
American Airlines, Inc. [Member] | |||||||||||||||||
Fair Value Measurements | 7. 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. No changes in valuation techniques or inputs occurred during the three months ended March 31, 2015. | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): | |||||||||||||||||
Fair Value Measurements as of March 31, 2015 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Short-term investments (1), (2): | |||||||||||||||||
Money market funds | $ | 1,009 | $ | 1,009 | $ | — | $ | — | |||||||||
Repurchase agreements | 46 | — | 46 | — | |||||||||||||
Corporate obligations | 2,151 | — | 2,151 | — | |||||||||||||
Bank notes / certificates of deposit / time deposits | 1,647 | — | 1,647 | — | |||||||||||||
4,853 | 1,009 | 3,844 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 646 | 646 | — | — | |||||||||||||
Total | $ | 5,499 | $ | 1,655 | $ | 3,844 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments and restricted cash and short-term investments are recorded in accumulated other comprehensive loss at each measurement date. | ||||||||||||||||
(2) | American’s short-term investments mature in one year or less except for $338 million of corporate obligations and $476 million of bank notes/certificates of deposit/time deposits. | ||||||||||||||||
There were no Level 1 to Level 2 transfers during the three months ended March 31, 2015. | |||||||||||||||||
All 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 loss. | |||||||||||||||||
Venezuela Cash and Short-term Investments | |||||||||||||||||
As of March 31, 2015, American had approximately $644 million of unrestricted cash and short-term investments held in Venezuelan bolivars. This balance includes approximately $621 million valued at 6.3 bolivars to the U.S. dollar and approximately $23 million valued at 12.0 bolivars to the U.S. dollar, with the rate depending on the date American submitted its repatriation request to the Venezuelan government. These rates are materially more favorable than the exchange rates currently prevailing for other transactions conducted outside of the Venezuelan government’s currency exchange system. American’s cash balance held in Venezuelan bolivars decreased $12 million from the December 31, 2014 balance of $656 million, due to payments made in bolivars for local operating expenditures. | |||||||||||||||||
During 2014, American significantly reduced capacity in the Venezuelan market and is no longer accepting bolivars as payment for airline tickets. American is monitoring this situation closely and continues to evaluate its holdings of Venezuelan bolivars for additional foreign currency losses or other accounting adjustments, which could be material, particularly in light of the additional uncertainty posed by the February 2015 changes to the foreign exchange regulations and the continued deterioration of economic conditions in Venezuela. More generally, fluctuations in foreign currencies, including devaluations, cannot be predicted by American and can significantly affect the value of American’s assets located outside the United States. These conditions, as well as any further delays, devaluations or imposition of more stringent repatriation restrictions, may materially adversely affect American’s business, results of operations and financial condition. 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 this and other currency risks. | |||||||||||||||||
Fair Value of Debt | |||||||||||||||||
The fair value of American’s long-term debt was 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 value of American’s long-term debt, including current maturities, were as follows (in millions): | |||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 11,774 | $ | 12,174 | $ | 11,234 | $ | 11,618 | |||||||||
Retirement_Benefits
Retirement Benefits | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Retirement Benefits | 10. Retirement Benefits | ||||||||||||||||
The following tables provide the components of net periodic benefit cost (in millions): | |||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Service cost | $ | 1 | $ | — | $ | 1 | $ | — | |||||||||
Interest cost | 184 | 186 | 13 | 15 | |||||||||||||
Expected return on assets | (213 | ) | (196 | ) | (5 | ) | (5 | ) | |||||||||
Settlements | — | 2 | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost (benefit) (1) | 7 | 7 | (61 | ) | (61 | ) | |||||||||||
Unrecognized net loss (gain) | 28 | 11 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 7 | $ | 10 | $ | (54 | ) | $ | (53 | ) | |||||||
(1) | The 2015 first quarter prior service cost does not include amortization of less than $1 million related to other post-employment benefits. | ||||||||||||||||
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 the Employee Retirement Income Security Act of 1974 (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. Based on current funding assumptions, the Company has no minimum required contributions until 2019. Currently, American’s minimum funding obligation for its pension plans is subject to temporary favorable rules that are scheduled to expire at the end of 2017. Upon expiration of these rules, American’s funding obligations are likely to increase materially. The amount of these obligations will depend on the performance of the Company’s investments held in trust by the pension plans, interest rates for determining liabilities and the Company’s actuarial experience. | |||||||||||||||||
American Airlines, Inc. [Member] | |||||||||||||||||
Retirement Benefits | 8. Retirement Benefits | ||||||||||||||||
The following tables provide the components of net periodic benefit cost (in millions): | |||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | 2015 | 2014 | 2015 | 2014 | |||||||||||||
Interest cost | $ | 184 | $ | 185 | $ | 11 | $ | 14 | |||||||||
Expected return on assets | (212 | ) | (195 | ) | (5 | ) | (5 | ) | |||||||||
Settlements | — | 2 | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost (benefit) (1) | 7 | 7 | (59 | ) | (60 | ) | |||||||||||
Unrecognized net loss (gain) | 28 | 11 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 7 | $ | 10 | $ | (55 | ) | $ | (53 | ) | |||||||
(1) | The 2015 first quarter prior service cost does not include amortization of less than $1 million related to other post-employment benefits. | ||||||||||||||||
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 the Employee Retirement Income Security Act of 1974 (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. Based on current funding assumptions, American has no minimum required contributions until 2019. Currently, American’s minimum funding obligation for its pension plans is subject to temporary favorable rules that are scheduled to expire at the end of 2017. Upon expiration of these rules, American’s funding obligations are likely to increase materially. The amount of these obligations will depend on the performance of American’s investments held in trust by the pension plans, interest rates for determining liabilities and American’s actuarial experience. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | 11. Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||
The components of accumulated other comprehensive income (loss) are as follows (in millions): | |||||||||||||||||||||
Pension and | Unrealized | Derivative | Income Tax | Total | |||||||||||||||||
Retiree | Gain/(Loss) | Financial | Benefit | ||||||||||||||||||
Medical | on | Instruments | (Expense) | ||||||||||||||||||
Liability | Investments | ||||||||||||||||||||
Balance at December 31, 2014 | $ | (3,683 | ) | $ | (5 | ) | $ | 9 | $ | (880 | ) | $ | (4,559 | ) | |||||||
Other comprehensive income (loss) before reclassifications | — | — | — | — | — | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (27 | ) | 2 | (6 | ) | — | (31 | ) | |||||||||||||
Net current-period other comprehensive income (loss) | (27 | ) | 2 | (6 | ) | — | (31 | ) | |||||||||||||
Balance at March 31, 2015 | $ | (3,710 | ) | $ | (3 | ) | $ | 3 | $ | (880 | ) | $ | (4,590 | ) | |||||||
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 are as follows (in millions): | |||||||||||||||||||||
Amount reclassified from accumulated | Affected line item in the statement | ||||||||||||||||||||
other comprehensive income (loss) | where net income (loss) is presented | ||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
Details about accumulated other comprehensive | 2015 | 2014 | |||||||||||||||||||
income (loss) components | |||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (53 | ) | $ | (54 | ) | Wages, salaries and benefits | ||||||||||||||
Actuarial loss | 26 | 9 | Wages, salaries and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | (6 | ) | 7 | Aircraft fuel and related taxes | |||||||||||||||||
Net unrealized change on investments: | |||||||||||||||||||||
Net change in value | 2 | 2 | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (31 | ) | $ | (36 | ) | |||||||||||||||
American Airlines, Inc. [Member] | |||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | 9. Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||
The components of accumulated other comprehensive income (loss) are as follows (in millions): | |||||||||||||||||||||
Pension and | Unrealized | Derivative | Income Tax | Total | |||||||||||||||||
Retiree | Gain/(Loss) | Financial | Benefit | ||||||||||||||||||
Medical | on | Instruments | (Expense) | ||||||||||||||||||
Liability | Investments | ||||||||||||||||||||
Balance at December 31, 2014 | $ | (3,660 | ) | $ | (3 | ) | $ | 9 | $ | (991 | ) | $ | (4,645 | ) | |||||||
Other comprehensive income (loss) before reclassifications | — | — | — | — | — | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (26 | ) | 1 | (6 | ) | — | (31 | ) | |||||||||||||
Net current-period other comprehensive income (loss) | (26 | ) | 1 | (6 | ) | — | (31 | ) | |||||||||||||
Balance at March 31, 2015 | $ | (3,686 | ) | $ | (2 | ) | $ | 3 | $ | (991 | ) | $ | (4,676 | ) | |||||||
Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 are as follows (in millions): | |||||||||||||||||||||
Amount reclassified from accumulated | Affected line item in the statement | ||||||||||||||||||||
other comprehensive income (loss) | where net income (loss) is presented | ||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
Details about accumulated other comprehensive | 2015 | 2014 | |||||||||||||||||||
income (loss) components | |||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (52 | ) | $ | (53 | ) | Wages, salaries and benefits | ||||||||||||||
Actuarial loss | 26 | 9 | Wages, salaries and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | (6 | ) | 7 | Aircraft fuel and related taxes | |||||||||||||||||
Net unrealized change on investments: | |||||||||||||||||||||
Net change in value | 1 | 2 | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (31 | ) | $ | (35 | ) | |||||||||||||||
Regional_Expenses
Regional Expenses | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Regional Expenses | 12. 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, | |||||||||
2015 | 2014 | ||||||||
Aircraft fuel and related taxes | $ | 311 | $ | 500 | |||||
Salaries, wages and benefits | 292 | 265 | |||||||
Capacity purchases from third-party regional carriers | 379 | 347 | |||||||
Maintenance, materials and repairs | 75 | 87 | |||||||
Other rent and landing fees | 106 | 96 | |||||||
Aircraft rent | 9 | 14 | |||||||
Selling expenses | 77 | 72 | |||||||
Depreciation and amortization | 58 | 53 | |||||||
Special items, net | 7 | 4 | |||||||
Other | 148 | 156 | |||||||
Total regional expenses | $ | 1,462 | $ | 1,594 | |||||
American Airlines, Inc. [Member] | |||||||||
Regional Expenses | 10. Regional Expenses | ||||||||
Expenses associated with American’s 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, | |||||||||
2015 | 2014 | ||||||||
Aircraft fuel and related taxes | $ | 160 | $ | 252 | |||||
Salaries, wages and benefits | 31 | 5 | |||||||
Capacity purchases from third-party regional carriers | 293 | 302 | |||||||
Other rent and landing fees | 63 | 55 | |||||||
Selling expenses | 37 | 36 | |||||||
Depreciation and amortization | 42 | 37 | |||||||
Special items, net | 2 | 1 | |||||||
Other | 100 | 70 | |||||||
Total regional expenses | $ | 728 | $ | 758 | |||||
Legal_Proceedings
Legal Proceedings | 3 Months Ended |
Mar. 31, 2015 | |
Legal Proceedings | 13. Legal Proceedings |
Chapter 11 Cases. As previously disclosed, on the Petition Date, November 29, 2011, the Debtors filed the Chapter 11 Cases. On October 21, 2013, the Bankruptcy Court entered the Confirmation Order confirming the 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, 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 determine the amount, if any, of such litigation claims for purposes of treatment under the Plan. | |
Pursuant to rulings of the Bankruptcy Court, the Plan established the Disputed Claims Reserve to hold shares of AAG Common Stock reserved for issuance to disputed claimholders at the Effective Date that ultimately become holders of allowed Single-Dip Unsecured Claims. The shares provided for under the Plan were determined based upon a Disputed Claims Reserve amount of claims of approximately $755 million, representing the maximum amount of additional distributions to subsequently allowed Single-Dip Unsecured Claims under the Plan. As of December 31, 2014, the Disputed Claims Reserve held 26.8 million shares of AAG Common Stock pending distribution of those shares in accordance with the Plan. On February 10, 2015, approximately 0.8 million shares of AAG Common Stock held in the Disputed Claims Reserve were distributed to holders of allowed Single-Dip Unsecured Claims, to holders of certain labor-related deemed claims, and to holders of certain non-management, non-union employee deemed claims as specified in the Plan, and the Company repurchased less than 0.1 million shares of AAG Common Stock for an aggregate of $4 million from the Disputed Claims Reserve at the then prevailing market price in order to fund cash tax obligations resulting from this distribution. As of March 31, 2015, there were approximately 26 million shares of AAG Common Stock remaining in the Disputed Claims Reserve. As disputed claims are resolved, the claimants will receive distributions of shares from the Disputed Claims Reserve on the same basis as if such distributions had been made on or about the Effective Date. However, the Company 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 any additional allowed unsecured claims. To the extent that any of the reserved shares remain undistributed upon resolution of all remaining disputed claims, such shares will not be returned to the Company but rather will be distributed to former AMR shareholders as of the Effective Date. However, resolution of disputed claims could have a material effect on recoveries by holders of additional allowed Single-Dip Unsecured Claims 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 (OPEB) 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. Separately, both the Association of Professional Flight Attendants and Transport Workers Union have filed grievances asserting that American was “successful” in its Chapter 11 with respect to matters related to OPEB and, accordingly, by operation of the underlying collective bargaining agreements, American’s prior contributions to certain OPEB prefunding trusts attributable to active employees should be returned to those active employees. These amounts aggregate approximately $212 million. The Company has denied both grievances and intends to defend these matters vigorously. | |
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 named as defendants US Airways Group and US Airways, and alleged 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 included 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. On June 2, 2014, plaintiffs filed an amended motion for leave to file a second amended and supplemental complaint. On March 31, 2015, the Court denied plaintiffs’ motion. 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 the 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 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. In January 2015, the court denied in part and granted in part Sabre’s motions for summary judgment. A trial date is expected to be set soon. 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. | |
American Airlines, Inc. [Member] | |
Legal Proceedings | 12. Legal Proceedings |
Chapter 11 Cases. As previously disclosed, on the Petition Date, November 29, 2011, the Debtors filed the Chapter 11 Cases. On October 21, 2013, the Bankruptcy Court entered the Confirmation Order confirming the 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, 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 determine the amount, if any, of such litigation claims for purposes of treatment under the Plan. | |
Pursuant to rulings of the Bankruptcy Court, the Plan established the Disputed Claims Reserve to hold shares of AAG Common Stock reserved for issuance to disputed claimholders at the Effective Date that ultimately become holders of allowed Single-Dip Unsecured Claims. The shares provided for under the Plan were determined based upon a Disputed Claims Reserve amount of claims of approximately $755 million, representing the maximum amount of additional distributions to subsequently allowed Single-Dip Unsecured Claims under the Plan. As of December 31, 2014, the Disputed Claims Reserve held 26.8 million shares of AAG Common Stock pending distribution of those shares in accordance with the Plan. On February 10, 2015, approximately 0.8 million shares of AAG Common Stock held in the Disputed Claims Reserve were distributed to holders of allowed Single-Dip Unsecured Claims, to holders of certain labor-related deemed claims, and to holders of certain non-management, non-union employee deemed claims as specified in the Plan, and American repurchased less than 0.1 million shares of AAG Common Stock for an aggregate of $4 million from the Disputed Claims Reserve at the then prevailing market price in order to fund cash tax obligations resulting from this distribution. As of March 31, 2015, there were approximately 26 million shares of AAG Common Stock remaining in the Disputed Claims Reserve. As disputed claims are resolved, the claimants will receive distributions of shares from the Disputed Claims Reserve on the same basis as if such distributions had been made on or about the Effective Date. However, American 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 any additional allowed unsecured claims. To the extent that any of the reserved shares remain undistributed upon resolution of all remaining disputed claims, such shares will not be returned to AAG but rather will be distributed to former AMR shareholders as of the Effective Date. However, resolution of disputed claims could have a material effect on recoveries by holders of additional allowed Single-Dip Unsecured Claims 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 (OPEB) 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. Separately, both the Association of Professional Flight Attendants and Transport Workers Union have filed grievances asserting that American was “successful” in its Chapter 11 with respect to matters related to OPEB and, accordingly, by operation of the underlying collective bargaining agreements, American’s prior contributions to certain OPEB prefunding trusts attributable to active employees should be returned to those active employees. These amounts aggregate approximately $212 million. American has denied both grievances and intends to defend these matters vigorously. | |
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 named as defendants US Airways Group and US Airways, and alleged 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 included 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. On June 2, 2014, plaintiffs filed an amended motion for leave to file a second amended and supplemental complaint. On March 31, 2015, the Court denied plaintiffs’ motion. 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, 2015 | |||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries | 14. 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 obligations of US Airways Group under the 6.125% senior notes. In addition, on March 31, 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 providing the following condensed consolidating financial information for the periods after Merger close for American Airlines Group (Parent Company Only), 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, 2015 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Operating revenues: | |||||||||||||||||||||||||||||
Mainline passenger | $ | — | $ | 4,690 | $ | — | $ | 2,299 | $ | — | $ | — | $ | 6,989 | |||||||||||||||
Regional passenger | — | 699 | — | 753 | — | — | 1,452 | ||||||||||||||||||||||
Cargo | — | 162 | — | 32 | — | — | 194 | ||||||||||||||||||||||
Other | — | 818 | — | 389 | 726 | (741 | ) | 1,192 | |||||||||||||||||||||
Total operating revenues | 6,369 | — | 3,473 | 726 | (741 | ) | 9,827 | ||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Aircraft fuel and related taxes | — | 1,070 | — | 474 | — | — | 1,544 | ||||||||||||||||||||||
Salaries, wages and benefits | — | 1,585 | — | 786 | 193 | (191 | ) | 2,373 | |||||||||||||||||||||
Regional expenses | — | 728 | — | 765 | — | (31 | ) | 1,462 | |||||||||||||||||||||
Maintenance, materials and repairs | — | 304 | — | 190 | 75 | (75 | ) | 494 | |||||||||||||||||||||
Other rent and landing fees | — | 270 | — | 138 | 10 | (10 | ) | 408 | |||||||||||||||||||||
Aircraft rent | — | 225 | — | 92 | 32 | (32 | ) | 317 | |||||||||||||||||||||
Selling expenses | — | 235 | — | 101 | — | — | 336 | ||||||||||||||||||||||
Depreciation and amortization | — | 236 | — | 100 | 11 | (11 | ) | 336 | |||||||||||||||||||||
Special items, net | — | 198 | — | 105 | 4 | (4 | ) | 303 | |||||||||||||||||||||
Other | 1 | 758 | — | 281 | 385 | (387 | ) | 1,038 | |||||||||||||||||||||
Total operating expenses | 1 | 5,609 | — | 3,032 | 710 | (741 | ) | 8,611 | |||||||||||||||||||||
Operating income (loss) | (1 | ) | 760 | — | 441 | 16 | — | 1,216 | |||||||||||||||||||||
Nonoperating income (expense): | |||||||||||||||||||||||||||||
Interest income | 2 | 6 | — | 4 | — | (2 | ) | 10 | |||||||||||||||||||||
Interest expense, net | (13 | ) | (126 | ) | (9 | ) | (64 | ) | — | 2 | (210 | ) | |||||||||||||||||
Equity in earnings of subsidiaries | 944 | — | 251 | — | — | (1,195 | ) | — | |||||||||||||||||||||
Other, net | — | (63 | ) | — | (11 | ) | 1 | — | (73 | ) | |||||||||||||||||||
Total nonoperating income (expense), net | 933 | (183 | ) | 242 | (71 | ) | 1 | (1,195 | ) | (273 | ) | ||||||||||||||||||
Income before income taxes | 932 | 577 | 242 | 370 | 17 | (1,195 | ) | 943 | |||||||||||||||||||||
Income tax provision | — | 8 | — | 131 | 3 | (131 | ) | 11 | |||||||||||||||||||||
Net income | $ | 932 | $ | 569 | $ | 242 | $ | 239 | $ | 14 | $ | (1,064 | ) | $ | 932 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
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, 2015 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Net income | $ | 932 | $ | 569 | $ | 242 | $ | 239 | $ | 14 | $ | (1,064 | ) | $ | 932 | ||||||||||||||
Other comprehensive income (loss) before tax: | |||||||||||||||||||||||||||||
Defined benefit pension plans and retiree medical | — | (26 | ) | — | (1 | ) | — | — | (27 | ) | |||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||||||||||
Change in fair value | — | — | — | — | — | — | — | ||||||||||||||||||||||
Reclassification into earnings | — | (6 | ) | — | — | — | — | (6 | ) | ||||||||||||||||||||
Unrealized gain on investments: | |||||||||||||||||||||||||||||
Net change in value | — | 1 | — | 1 | — | — | 2 | ||||||||||||||||||||||
Other comprehensive loss before tax | — | (31 | ) | — | — | — | — | (31 | ) | ||||||||||||||||||||
Non-cash tax provision | — | — | — | — | — | — | — | ||||||||||||||||||||||
Comprehensive income | $ | 932 | $ | 538 | $ | 242 | $ | 239 | $ | 14 | $ | (1,064 | ) | $ | 901 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Net income (loss) | $ | 424 | $ | 401 | $ | 52 | $ | 126 | $ | (8 | ) | $ | (515 | ) | $ | 480 | |||||||||||||
Other comprehensive loss before tax: | |||||||||||||||||||||||||||||
Defined benefit pension plans and retiree medical | — | (44 | ) | — | (1 | ) | — | — | (45 | ) | |||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||||||||||
Change in fair value | — | (67 | ) | — | — | — | — | (67 | ) | ||||||||||||||||||||
Reclassification into earnings | — | 7 | — | — | — | — | 7 | ||||||||||||||||||||||
Unrealized gain 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, 2015 | |||||||||||||||||||||||||||||
American | US | US Airways | Non- | Eliminations | American | ||||||||||||||||||||||||
American | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
Airlines Group | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
(Parent | (Parent | Consolidated | |||||||||||||||||||||||||||
Company | Company | ||||||||||||||||||||||||||||
Only) | Only) | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 884 | $ | 5 | $ | 153 | $ | 5 | $ | — | $ | 1,048 | |||||||||||||||
Short-term investments | — | 4,853 | — | 3,270 | 2 | — | 8,125 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 646 | — | 111 | — | — | 757 | ||||||||||||||||||||||
Accounts receivable, net | — | 1,437 | — | 383 | 19 | (13 | ) | 1,826 | |||||||||||||||||||||
Receivables from related parties, net | 2,409 | — | — | 242 | — | (2,651 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 623 | — | 298 | 74 | — | 995 | ||||||||||||||||||||||
Prepaid expenses and other | 79 | 635 | — | 623 | 41 | — | 1,378 | ||||||||||||||||||||||
Total current assets | 2,489 | 9,078 | 5 | 5,080 | 141 | (2,664 | ) | 14,129 | |||||||||||||||||||||
Operating property and equipment | — | 17,130 | — | 6,627 | 285 | — | 24,042 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investments in subsidiaries | 1,636 | — | 7,145 | — | — | (8,781 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,089 | — | 2 | 4,091 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 872 | — | 1,409 | — | — | 2,281 | ||||||||||||||||||||||
Other assets | 58 | 1,885 | — | 256 | 47 | (35 | ) | 2,211 | |||||||||||||||||||||
Total other assets | 1,694 | 2,757 | 7,145 | 5,754 | 47 | (8,814 | ) | 8,583 | |||||||||||||||||||||
Total assets | $ | 4,183 | $ | 28,965 | $ | 7,150 | $ | 17,461 | $ | 473 | $ | (11,478 | ) | $ | 46,754 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 802 | $ | — | $ | 482 | $ | — | $ | — | $ | 1,284 | |||||||||||||||
Accounts payable | — | 1,175 | — | 362 | 52 | (2 | ) | 1,587 | |||||||||||||||||||||
Payables to related parties, net | — | 2,168 | 480 | — | 3 | (2,651 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 3,691 | — | 1,724 | — | — | 5,415 | ||||||||||||||||||||||
Frequent flyer liability | — | 2,776 | — | — | — | — | 2,776 | ||||||||||||||||||||||
Other accrued liabilities | 39 | 1,835 | 11 | 1,164 | 124 | (2 | ) | 3,171 | |||||||||||||||||||||
Total current liabilities | 39 | 12,447 | 491 | 3,732 | 179 | (2,655 | ) | 14,233 | |||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 1,257 | 10,972 | 524 | 4,919 | — | (34 | ) | 17,638 | |||||||||||||||||||||
Pension and postretirement benefits | — | 7,355 | — | 122 | 40 | — | 7,517 | ||||||||||||||||||||||
Bankruptcy settlement obligations | — | 275 | — | — | — | — | 275 | ||||||||||||||||||||||
Other liabilities | 123 | 2,868 | — | 1,599 | 44 | (307 | ) | 4,327 | |||||||||||||||||||||
Total noncurrent liabilities | 1,380 | 21,470 | 524 | 6,640 | 84 | (341 | ) | 29,757 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 7 | — | — | — | — | — | 7 | ||||||||||||||||||||||
Additional paid-in capital | 15,049 | 10,714 | 4,727 | 5,566 | 199 | (21,206 | ) | 15,049 | |||||||||||||||||||||
Accumulated other comprehensive loss | (4,590 | ) | (4,676 | ) | (16 | ) | (8 | ) | (12 | ) | 4,712 | (4,590 | ) | ||||||||||||||||
Retained earnings (deficit) | (7,702 | ) | (10,990 | ) | 1,424 | 1,531 | 23 | 8,012 | (7,702 | ) | |||||||||||||||||||
Total stockholders’ equity (deficit) | 2,764 | (4,952 | ) | 6,135 | 7,089 | 210 | (8,482 | ) | 2,764 | ||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 4,183 | $ | 28,965 | $ | 7,150 | $ | 17,461 | $ | 473 | $ | (11,478 | ) | $ | 46,754 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 785 | $ | 2 | $ | 199 | $ | 7 | $ | — | $ | 994 | |||||||||||||||
Short-term investments | — | 3,290 | — | 3,016 | 3 | — | 6,309 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 650 | — | 124 | — | — | 774 | ||||||||||||||||||||||
Accounts receivable, net | — | 1,445 | — | 324 | 15 | (13 | ) | 1,771 | |||||||||||||||||||||
Receivables from related parties, net | 1,893 | — | 157 | 933 | 526 | (3,509 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 625 | — | 294 | 85 | — | 1,004 | ||||||||||||||||||||||
Prepaid expenses and other | — | 462 | — | 912 | 41 | (155 | ) | 1,260 | |||||||||||||||||||||
Total current assets | 1,894 | 7,257 | 159 | 5,802 | 677 | (3,677 | ) | 12,112 | |||||||||||||||||||||
Operating property and equipment | — | 16,299 | — | 6,506 | 279 | — | 23,084 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investments in subsidiaries | 847 | — | 6,870 | — | — | (7,717 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,090 | — | 1 | 4,091 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 815 | — | 1,425 | — | — | 2,240 | ||||||||||||||||||||||
Other assets | 53 | 1,921 | — | 267 | 38 | (35 | ) | 2,244 | |||||||||||||||||||||
Total other assets | 900 | 2,736 | 6,870 | 5,782 | 38 | (7,751 | ) | 8,575 | |||||||||||||||||||||
Total assets | $ | 2,794 | $ | 26,292 | $ | 7,029 | $ | 18,090 | $ | 994 | $ | (11,428 | ) | $ | 43,771 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 1,230 | $ | — | $ | 477 | $ | 1 | $ | — | $ | 1,708 | |||||||||||||||
Accounts payable | — | 1,029 | — | 287 | 61 | — | 1,377 | ||||||||||||||||||||||
Payables to related parties, net | — | 2,563 | 634 | 73 | 239 | (3,509 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 2,989 | — | 1,263 | — | — | 4,252 | ||||||||||||||||||||||
Frequent flyer liability | — | 1,823 | — | 984 | — | — | 2,807 | ||||||||||||||||||||||
Other accrued liabilities | 14 | 1,886 | 3 | 1,253 | 138 | (3 | ) | 3,291 | |||||||||||||||||||||
Total current liabilities | 14 | 11,520 | 637 | 4,337 | 439 | (3,512 | ) | 13,435 | |||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 758 | 10,004 | 524 | 4,945 | — | (35 | ) | 16,196 | |||||||||||||||||||||
Pension and postretirement benefits | — | 7,400 | — | 122 | 40 | — | 7,562 | ||||||||||||||||||||||
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | — | 325 | — | — | — | — | 325 | ||||||||||||||||||||||
Other liabilities | 1 | 2,615 | — | 1,861 | 317 | (562 | ) | 4,232 | |||||||||||||||||||||
Total noncurrent liabilities | 759 | 20,344 | 524 | 6,928 | 357 | (597 | ) | 28,315 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 7 | — | — | — | — | — | 7 | ||||||||||||||||||||||
Additional paid-in capital | 15,135 | 10,632 | 4,703 | 5,542 | 199 | (21,076 | ) | 15,135 | |||||||||||||||||||||
Accumulated other comprehensive loss | (4,559 | ) | (4,645 | ) | (16 | ) | (8 | ) | (12 | ) | 4,681 | (4,559 | ) | ||||||||||||||||
Retained earnings (deficit) | (8,562 | ) | (11,559 | ) | 1,181 | 1,291 | 11 | 9,076 | (8,562 | ) | |||||||||||||||||||
Total stockholders’ equity (deficit) | 2,021 | (5,572 | ) | 5,868 | 6,825 | 198 | (7,319 | ) | 2,021 | ||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 2,794 | $ | 26,292 | $ | 7,029 | $ | 18,090 | $ | 994 | $ | (11,428 | ) | $ | 43,771 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | (242 | ) | $ | 2,285 | $ | 3 | $ | 430 | $ | 18 | $ | — | $ | 2,494 | ||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||
Capital expenditures and aircraft purchase deposits | — | (1,160 | ) | — | (229 | ) | (20 | ) | — | (1,409 | ) | ||||||||||||||||||
Purchases of short-term investments | — | (1,945 | ) | — | (1,529 | ) | — | — | (3,474 | ) | |||||||||||||||||||
Sales of short-term investments | — | 382 | — | 1,278 | — | — | 1,660 | ||||||||||||||||||||||
Decrease in restricted cash and short-term investments | — | 4 | — | 13 | — | — | 17 | ||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 4 | — | — | — | — | 4 | ||||||||||||||||||||||
Net cash used in investing activities | — | (2,715 | ) | — | (467 | ) | (20 | ) | — | (3,202 | ) | ||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||
Payments on long-term debt and capital leases | — | (680 | ) | — | (66 | ) | — | — | (746 | ) | |||||||||||||||||||
Proceeds from issuance of long-term debt | 500 | 1,227 | — | 39 | — | — | 1,766 | ||||||||||||||||||||||
Deferred financing costs | (7 | ) | (18 | ) | — | — | — | — | (25 | ) | |||||||||||||||||||
Treasury stock repurchases | (181 | ) | — | — | — | — | — | (181 | ) | ||||||||||||||||||||
Dividend payment | (70 | ) | — | — | — | — | — | (70 | ) | ||||||||||||||||||||
Other financing activities | — | — | — | 18 | — | — | 18 | ||||||||||||||||||||||
Net cash provided by (used in) financing activities | 242 | 529 | — | (9 | ) | — | — | 762 | |||||||||||||||||||||
Net increase (decrease) in cash | — | 99 | 3 | (46 | ) | (2 | ) | — | 54 | ||||||||||||||||||||
Cash at beginning of period | 1 | 785 | 2 | 199 | 7 | — | 994 | ||||||||||||||||||||||
Cash at end of period | $ | 1 | $ | 884 | $ | 5 | $ | 153 | $ | 5 | $ | — | $ | 1,048 | |||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||
Purchases of short-term investments | — | (499 | ) | — | (677 | ) | — | — | (1,176 | ) | |||||||||||||||||||
Sales of short-term investments | — | 682 | — | 200 | — | — | 882 | ||||||||||||||||||||||
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 | ||||||||||||||||||||||
Deferred financing costs | — | (5 | ) | — | (2 | ) | — | — | (7 | ) | |||||||||||||||||||
Sale-leaseback transactions | — | 165 | — | — | — | — | 165 | ||||||||||||||||||||||
Exercise of stock options | 9 | — | — | — | — | — | 9 | ||||||||||||||||||||||
Treasury stock repurchases | (84 | ) | — | — | — | — | — | (84 | ) | ||||||||||||||||||||
Funds transferred from (to) affiliates, net | 84 | (84 | ) | — | — | — | — | — | |||||||||||||||||||||
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, 2015 | |
Subsequent Events | 15. Subsequent Events |
Dividend Declaration | |
In April 2015, the Company announced that its Board of Directors had declared a $0.10 per share dividend for shareholders of record on May 4, 2015, and payable on May 18, 2015. Any future dividends that may be declared and paid from time to time under the Company’s capital deployment program will be subject to market and economic conditions, applicable legal requirements and other relevant factors. The Company’s capital deployment program does not obligate it to continue a dividend for any fixed period, and payment of dividends may be suspended at any time at the Company’s discretion. | |
Refinancing of 2014 Credit Facilities | |
On April 20, 2015, American refinanced its $750 million term loan facility (the new 2015 Term Loan Facility and together with a $400 million revolving credit facility, the 2014 Credit Facilities) to reduce the LIBOR margin from 3.50% to 3.00% and entered into certain amendments to reflect the release of certain existing collateral and the addition of certain new collateral and to allow American to make future modifications to the collateral pledged. For more information on these amendments, see Part II, Item 5. Other Information. | |
American Airlines, Inc. [Member] | |
Subsequent Events | 13. Subsequent Events |
Refinancing of 2014 Credit Facilities | |
On April 20, 2015, American refinanced its $750 million term loan facility (the new 2015 Term Loan Facility and together with a $400 million revolving credit facility, the 2014 Credit Facilities) to reduce the LIBOR margin from 3.50% to 3.00% and entered into certain amendments to reflect the release of certain existing collateral and the addition of certain new collateral and to allow American to make future modifications to the collateral pledged. For more information on these amendments, see Part II, Item 5. Other Information. |
Transactions_with_Related_Part
Transactions with Related Parties (American Airlines, Inc. [Member]) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
American Airlines, Inc. [Member] | |||||||||
Transactions with Related Parties | 11. Transactions with Related Parties | ||||||||
The following represents the net payables to (receivables from) related parties (in millions): | |||||||||
March 31, 2015 | December 31, 2014 | ||||||||
American Airlines Group Parent | $ | 284 | $ | 40 | |||||
US Airways Group, Inc. | (281 | ) | 320 | ||||||
Envoy Aviation Group (1) and other subsidiaries | 2,165 | 2,203 | |||||||
Total | $ | 2,168 | $ | 2,563 | |||||
(1) | 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. | ||||||||
Frequent Flyer Program | |||||||||
In the first quarter of 2015, the US Airways Dividend Miles frequent flyer program was merged into American’s AAdvantage program. Accordingly, as of March 31, 2015, the related frequent flyer deferred revenue and incremental cost liability for the Dividend Miles program has been transferred to American with a corresponding intercompany receivable from US Airways recorded by American. No gain or loss was incurred from the transaction as the liabilities were transferred at their respective net book values. American’s intercompany receivable associated with the transfer of this obligation will be settled by US Airways through future redemptions by AAdvantage members on US Airways operated flights. | |||||||||
Allocated Expenses | |||||||||
Until American and US Airways are merged into one legal entity, revenue and expenses will continue to be recorded by each entity based on either specific identification of the related transaction where applicable or appropriate allocations based on metrics that are systematic and rational. The operating expenses of American reflect allocated expenses for certain services shared with US Airways. These allocated expenses include certain selling expenses, certain airport operating expenses at co-located airports, information technology expenses and corporate management and support functions. Shared selling expenses have been allocated primarily based on the passenger revenue of each respective carrier. Shared airport operating expenses have been allocated based on American’s and US Airways’ respective departures at those airports. Shared other expenses have been allocated primarily based on American’s and US Airways’ respective available seat miles (ASMs). Total net expense allocated from American to US Airways was $172 million for the quarter ended March 31, 2015. There were no material allocations recorded during the first quarter of 2014. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Basis of Presentation | The accompanying unaudited condensed consolidated financial statements of American Airlines Group Inc. (AAG or the Company) 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, 2014. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Principal subsidiaries include American Airlines, Inc. (American) and US Airways Group, Inc. (US Airways Group). All significant intercompany transactions have been eliminated. |
On December 9, 2013 (the Effective Date), AMR Merger Sub, Inc. (Merger Sub) merged with and into US Airways Group (the Merger), with US Airways Group surviving as a wholly-owned subsidiary of AAG, a Delaware corporation (formerly known as AMR Corporation) following the Merger. “AMR” or “AMR Corporation” refers to the Company during the period of time prior to its emergence from Chapter 11 and the Effective Date of the Merger. | |
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 (GAAP) 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. | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 completes the joint effort by the FASB and International Accounting Standards Board (IASB) to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards (IFRS). ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for public entities for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and entities have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application and not adjusting comparative information. The Company is currently evaluating the requirements of ASU 2014-09 and has not yet determined its impact on the Company’s condensed consolidated financial statements. | |
In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on the Company’s condensed consolidated financial statements. | |
American Airlines, Inc. [Member] | |
Basis of Presentation | The accompanying unaudited condensed consolidated financial statements of American Airlines, Inc. (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, 2014. American is a wholly-owned subsidiary of American Airlines Group Inc. (AAG). 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 (GAAP) 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. | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 completes the joint effort by the FASB and International Accounting Standards Board (IASB) to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards (IFRS). ASU 2014-09 applies to all companies that enter into contracts with customers to transfer goods or services. ASU 2014-09 is effective for public entities for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and entities have the choice to apply ASU 2014-09 either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying ASU 2014-09 at the date of initial application and not adjusting comparative information. American is currently evaluating the requirements of ASU 2014-09 and has not yet determined its impact on American’s condensed consolidated financial statements. | |
In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on American’s condensed consolidated financial statements. |
Bankruptcy_Settlement_Obligati1
Bankruptcy Settlement Obligations (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Components of Bankruptcy Settlement Obligations | The components of bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): | ||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Single-Dip Equity Obligations | $ | 210 | $ | 248 | |||||
Labor-related deemed claim | 65 | 77 | |||||||
Total | $ | 275 | $ | 325 | |||||
American Airlines, Inc. [Member] | |||||||||
Components of Bankruptcy Settlement Obligations | The components of bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): | ||||||||
March 31, 2015 | December 31, 2014 | ||||||||
Single-Dip and Double-Dip Equity Obligations | $ | 210 | $ | 248 | |||||
Labor-related deemed claim | 65 | 77 | |||||||
Total | $ | 275 | $ | 325 | |||||
Special_Items_Tables
Special Items (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Components of Special Items, Net Included in Condensed Consolidated Statements of Operations | Special items, net on the condensed consolidated statements of operations are as follows (in millions): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Mainline operating special items, net (a) | $ | 303 | $ | (137 | ) | ||||
(a) | The 2015 first quarter mainline operating special items totaled a net charge of $303 million, which principally included $216 million of merger integration expenses related to information technology, professional fees, severance, share-based compensation, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training. In addition, the Company recorded a net $99 million charge principally related to its new pilot joint collective bargaining agreement. These charges were offset in part by a net $6 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. | ||||||||
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 Ronald Reagan Washington National Airport and a net $32 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $202 million of merger integration expenses related to alignment of labor union contracts, information technology, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training. | |||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Regional operating special items, net(a) | $ | 7 | $ | 4 | |||||
Nonoperating special items, net (b) | (8 | ) | 47 | ||||||
Income tax special items, net (c) | 9 | 8 | |||||||
(a) | The 2015 and 2014 first quarter regional operating special items principally related to merger integration expenses. | ||||||||
(b) | The 2015 first quarter nonoperating special items totaled a net credit of $8 million primarily due to a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank, offset in part by a $9 million charge principally related to a non-cash write off of unamortized debt discount associated with the prepayment of certain aircraft financings. | ||||||||
The 2014 first quarter nonoperating special items totaled a net charge of $47 million principally due to non-cash interest accretion of $31 million on the bankruptcy settlement obligations and $13 million for Venezuelan foreign currency losses. | |||||||||
(c) | The 2015 and 2014 first quarter tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. | ||||||||
American Airlines, Inc. [Member] | |||||||||
Components of Special Items, Net Included in Condensed Consolidated Statements of Operations | Special items, net on the condensed consolidated statements of operations are as follows (in millions): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Mainline operating special items, net (a) | $ | 198 | $ | (216 | ) | ||||
(a) | The 2015 first quarter mainline operating special items totaled a net charge of $198 million, which principally included $148 million of merger integration expenses related to information technology, professional fees, severance, share-based compensation, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training. In addition, American recorded a net $64 million charge principally related to its new pilot joint collective bargaining agreement. These charges were offset in part by a net $6 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. | ||||||||
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 Ronald Reagan Washington National Airport and a net $56 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $134 million of merger integration expenses related to alignment of labor union contracts, information technology, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training. | |||||||||
The following additional amounts are also included in the condensed consolidated statements of operations as follows (in millions): | |||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Regional operating special items, net(a) | $ | 2 | $ | 1 | |||||
Nonoperating special items, net (b) | (8 | ) | 44 | ||||||
Income tax special items, net (c) | 8 | 7 | |||||||
(a) | The 2015 and 2014 first quarter regional operating special items principally related to merger integration expenses. | ||||||||
(b) | The 2015 first quarter nonoperating special items totaled a net credit of $8 million primarily due to a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank, offset in part by a $9 million charge principally related to a non-cash write off of unamortized debt discount associated with the prepayment of certain aircraft financings. | ||||||||
The 2014 first quarter nonoperating special items totaled a net charge of $44 million principally due to non-cash interest accretion of $27 million on the bankruptcy settlement obligations and $13 million for Venezuelan foreign currency losses. | |||||||||
(c) | The 2015 and 2014 first quarter tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Computation of Basic and Diluted Earnings per Share (EPS) | The following table sets forth the computation of basic and diluted earnings per share (EPS) (in millions, except share and per share amounts in thousands): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Basic EPS: | |||||||||
Net income | $ | 932 | $ | 480 | |||||
Weighted-average common shares outstanding (in thousands) | 696,415 | 723,971 | |||||||
Basic EPS | $ | 1.34 | $ | 0.66 | |||||
Diluted EPS: | |||||||||
Net income | $ | 932 | $ | 480 | |||||
Change in fair value of conversion feature on 7.25% convertible senior notes (a) | — | 5 | |||||||
Net income for purposes of computing diluted EPS | $ | 932 | $ | 485 | |||||
Share computation for diluted earnings per share (in thousands): | |||||||||
Weighted-average shares outstanding | 696,415 | 723,971 | |||||||
Dilutive effect of stock awards | 20,515 | 13,534 | |||||||
Assumed conversion of convertible senior notes | — | 3,830 | |||||||
Weighted average common shares outstanding | 716,930 | 741,335 | |||||||
Diluted earnings per share | $ | 1.3 | $ | 0.65 | |||||
The following were excluded from the calculation of diluted EPS (in thousands): | |||||||||
Stock options, SARs and RSUs because inclusion would be antidilutive | 1 | 33 | |||||||
(a) | In March 2014, the Company notified the holders of US Airways Group’s 7.25% convertible senior notes that it had 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 included 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 was required to 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 for the three months ended March 31, 2014. |
Debt_Tables
Debt (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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, 2015 | December 31, 2014 | ||||||||
Secured | |||||||||
2013 Credit Facilities, variable interest rate of 3.75%, installments through 2019 | $ | 1,867 | $ | 1,872 | |||||
2014 Credit Facilities, variable interest rate of 4.25%, installments through 2021 | 750 | 750 | |||||||
2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 | 990 | 990 | |||||||
2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 | 594 | 594 | |||||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 9.75%, maturing from 2015 to 2027 | 7,912 | 7,028 | |||||||
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.50% to 8.48%, maturing from 2015 to 2027 | 3,025 | 2,952 | |||||||
Special facility revenue bonds, fixed interest rates ranging from 5.50% to 8.50%, maturing from 2016 to 2035 | 1,100 | 1,100 | |||||||
AAdvantage Loan, effective rate of 8.30% | — | 433 | |||||||
Other secured obligations, fixed interest rates ranging from 3.60% to 12.24%, maturing from 2015 to 2028 | 983 | 994 | |||||||
17,221 | 16,713 | ||||||||
Unsecured | |||||||||
5.50% senior notes, interest only payments until due in 2019 | 750 | 750 | |||||||
6.125% senior notes, interest only payments until due in 2018 | 500 | 500 | |||||||
4.625% senior notes, interest only payments until due in 2020 | 500 | — | |||||||
1,750 | 1,250 | ||||||||
Total long-term debt and capital lease obligations | 18,971 | 17,963 | |||||||
Less: Total unamortized debt discount | 49 | 59 | |||||||
Less: Current maturities | 1,284 | 1,708 | |||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 17,638 | $ | 16,196 | |||||
American Airlines, Inc. [Member] | |||||||||
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, 2015 | December 31, 2014 | ||||||||
Secured | |||||||||
2013 Credit Facilities, variable interest rate of 3.75%, installments through 2019 | $ | 1,867 | $ | 1,872 | |||||
2014 Credit Facilities, variable interest rate of 4.25%, installments through 2021 | 750 | 750 | |||||||
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 7.00%, maturing from 2017 to 2027 | 5,186 | 4,271 | |||||||
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.50% to 8.10%, maturing from 2015 to 2026 | 1,927 | 1,860 | |||||||
Special facility revenue bonds, fixed interest rates ranging from 5.50% to 8.50%, maturing from 2016 to 2035 | 1,071 | 1,071 | |||||||
AAdvantage Loan, effective rate of 8.30% | — | 433 | |||||||
Other secured obligations, fixed interest rates ranging from 4.19% to 12.24%, maturing from 2015 to 2028 | 977 | 992 | |||||||
11,778 | 11,249 | ||||||||
Unsecured | |||||||||
Affiliate unsecured obligations | 27 | 27 | |||||||
27 | 27 | ||||||||
Total long-term debt and capital lease obligations | 11,805 | 11,276 | |||||||
Less: Total unamortized debt discount | 31 | 42 | |||||||
Less: Current maturities | 802 | 1,230 | |||||||
Long-term debt and capital lease obligations, net of current maturities | $ | 10,972 | $ | 10,004 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
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, 2015 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Short-term investments (1), (2): | |||||||||||||||||
Money market funds | $ | 1,130 | $ | 1,130 | $ | — | $ | — | |||||||||
Government agency investments | 101 | — | 101 | — | |||||||||||||
Repurchase agreements | 46 | — | 46 | — | |||||||||||||
Corporate obligations | 4,110 | — | 4,110 | — | |||||||||||||
Bank notes / certificates of deposit / time deposits | 2,738 | — | 2,738 | — | |||||||||||||
8,125 | 1,130 | 6,995 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 757 | 757 | — | — | |||||||||||||
Total | $ | 8,882 | $ | 1,887 | $ | 6,995 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments and restricted cash and short-term investments are recorded in accumulated other comprehensive loss at each measurement date. | ||||||||||||||||
(2) | The Company’s short-term investments mature in one year or less except for $1.0 billion of corporate obligations and $990 million of bank notes/certificates of deposit/time deposits. | ||||||||||||||||
Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities | The carrying value and estimated fair value of the Company’s long-term debt, including current maturities, were as follows (in millions): | ||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 18,922 | $ | 19,640 | $ | 17,904 | $ | 18,542 | |||||||||
American Airlines, Inc. [Member] | |||||||||||||||||
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, 2015 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Short-term investments (1), (2): | |||||||||||||||||
Money market funds | $ | 1,009 | $ | 1,009 | $ | — | $ | — | |||||||||
Repurchase agreements | 46 | — | 46 | — | |||||||||||||
Corporate obligations | 2,151 | — | 2,151 | — | |||||||||||||
Bank notes / certificates of deposit / time deposits | 1,647 | — | 1,647 | — | |||||||||||||
4,853 | 1,009 | 3,844 | — | ||||||||||||||
Restricted cash and short-term investments (1) | 646 | 646 | — | — | |||||||||||||
Total | $ | 5,499 | $ | 1,655 | $ | 3,844 | $ | — | |||||||||
(1) | Unrealized gains or losses on short-term investments and restricted cash and short-term investments are recorded in accumulated other comprehensive loss at each measurement date. | ||||||||||||||||
(2) | American’s short-term investments mature in one year or less except for $338 million of corporate obligations and $476 million of bank notes/certificates of deposit/time deposits. | ||||||||||||||||
Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities | The carrying value and estimated fair value of American’s long-term debt, including current maturities, were as follows (in millions): | ||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Long-term debt, including current maturities | $ | 11,774 | $ | 12,174 | $ | 11,234 | $ | 11,618 | |||||||||
Retirement_Benefits_Tables
Retirement Benefits (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Components of Net Periodic Benefit Cost | The following tables provide the components of net periodic benefit cost (in millions): | ||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Service cost | $ | 1 | $ | — | $ | 1 | $ | — | |||||||||
Interest cost | 184 | 186 | 13 | 15 | |||||||||||||
Expected return on assets | (213 | ) | (196 | ) | (5 | ) | (5 | ) | |||||||||
Settlements | — | 2 | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost (benefit) (1) | 7 | 7 | (61 | ) | (61 | ) | |||||||||||
Unrecognized net loss (gain) | 28 | 11 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 7 | $ | 10 | $ | (54 | ) | $ | (53 | ) | |||||||
(1) | The 2015 first quarter prior service cost does not include amortization of less than $1 million related to other post-employment benefits. | ||||||||||||||||
American Airlines, Inc. [Member] | |||||||||||||||||
Components of Net Periodic Benefit Cost | The following tables provide the components of net periodic benefit cost (in millions): | ||||||||||||||||
Pension Benefits | Retiree Medical and Other Benefits | ||||||||||||||||
Three Months Ended March 31, | 2015 | 2014 | 2015 | 2014 | |||||||||||||
Interest cost | $ | 184 | $ | 185 | $ | 11 | $ | 14 | |||||||||
Expected return on assets | (212 | ) | (195 | ) | (5 | ) | (5 | ) | |||||||||
Settlements | — | 2 | — | — | |||||||||||||
Amortization of: | |||||||||||||||||
Prior service cost (benefit) (1) | 7 | 7 | (59 | ) | (60 | ) | |||||||||||
Unrecognized net loss (gain) | 28 | 11 | (2 | ) | (2 | ) | |||||||||||
Net periodic benefit cost | $ | 7 | $ | 10 | $ | (55 | ) | $ | (53 | ) | |||||||
(1) | The 2015 first quarter prior service cost does not include amortization of less than $1 million related to other post-employment benefits. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Components of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income (loss) are as follows (in millions): | ||||||||||||||||||||
Pension and | Unrealized | Derivative | Income Tax | Total | |||||||||||||||||
Retiree | Gain/(Loss) | Financial | Benefit | ||||||||||||||||||
Medical | on | Instruments | (Expense) | ||||||||||||||||||
Liability | Investments | ||||||||||||||||||||
Balance at December 31, 2014 | $ | (3,683 | ) | $ | (5 | ) | $ | 9 | $ | (880 | ) | $ | (4,559 | ) | |||||||
Other comprehensive income (loss) before reclassifications | — | — | — | — | — | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (27 | ) | 2 | (6 | ) | — | (31 | ) | |||||||||||||
Net current-period other comprehensive income (loss) | (27 | ) | 2 | (6 | ) | — | (31 | ) | |||||||||||||
Balance at March 31, 2015 | $ | (3,710 | ) | $ | (3 | ) | $ | 3 | $ | (880 | ) | $ | (4,590 | ) | |||||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 are as follows (in millions): | ||||||||||||||||||||
Amount reclassified from accumulated | Affected line item in the statement | ||||||||||||||||||||
other comprehensive income (loss) | where net income (loss) is presented | ||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
Details about accumulated other comprehensive | 2015 | 2014 | |||||||||||||||||||
income (loss) components | |||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (53 | ) | $ | (54 | ) | Wages, salaries and benefits | ||||||||||||||
Actuarial loss | 26 | 9 | Wages, salaries and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | (6 | ) | 7 | Aircraft fuel and related taxes | |||||||||||||||||
Net unrealized change on investments: | |||||||||||||||||||||
Net change in value | 2 | 2 | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (31 | ) | $ | (36 | ) | |||||||||||||||
American Airlines, Inc. [Member] | |||||||||||||||||||||
Components of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income (loss) are as follows (in millions): | ||||||||||||||||||||
Pension and | Unrealized | Derivative | Income Tax | Total | |||||||||||||||||
Retiree | Gain/(Loss) | Financial | Benefit | ||||||||||||||||||
Medical | on | Instruments | (Expense) | ||||||||||||||||||
Liability | Investments | ||||||||||||||||||||
Balance at December 31, 2014 | $ | (3,660 | ) | $ | (3 | ) | $ | 9 | $ | (991 | ) | $ | (4,645 | ) | |||||||
Other comprehensive income (loss) before reclassifications | — | — | — | — | — | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (26 | ) | 1 | (6 | ) | — | (31 | ) | |||||||||||||
Net current-period other comprehensive income (loss) | (26 | ) | 1 | (6 | ) | — | (31 | ) | |||||||||||||
Balance at March 31, 2015 | $ | (3,686 | ) | $ | (2 | ) | $ | 3 | $ | (991 | ) | $ | (4,676 | ) | |||||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2015 and 2014 are as follows (in millions): | ||||||||||||||||||||
Amount reclassified from accumulated | Affected line item in the statement | ||||||||||||||||||||
other comprehensive income (loss) | where net income (loss) is presented | ||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||
Details about accumulated other comprehensive | 2015 | 2014 | |||||||||||||||||||
income (loss) components | |||||||||||||||||||||
Amortization of pension and retiree medical liability: | |||||||||||||||||||||
Prior service cost | $ | (52 | ) | $ | (53 | ) | Wages, salaries and benefits | ||||||||||||||
Actuarial loss | 26 | 9 | Wages, salaries and benefits | ||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||
Cash flow hedges | (6 | ) | 7 | Aircraft fuel and related taxes | |||||||||||||||||
Net unrealized change on investments: | |||||||||||||||||||||
Net change in value | 1 | 2 | Other, net | ||||||||||||||||||
Total reclassifications for the period | $ | (31 | ) | $ | (35 | ) | |||||||||||||||
Regional_Expenses_Tables
Regional Expenses (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Components of 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, | |||||||||
2015 | 2014 | ||||||||
Aircraft fuel and related taxes | $ | 311 | $ | 500 | |||||
Salaries, wages and benefits | 292 | 265 | |||||||
Capacity purchases from third-party regional carriers | 379 | 347 | |||||||
Maintenance, materials and repairs | 75 | 87 | |||||||
Other rent and landing fees | 106 | 96 | |||||||
Aircraft rent | 9 | 14 | |||||||
Selling expenses | 77 | 72 | |||||||
Depreciation and amortization | 58 | 53 | |||||||
Special items, net | 7 | 4 | |||||||
Other | 148 | 156 | |||||||
Total regional expenses | $ | 1,462 | $ | 1,594 | |||||
American Airlines, Inc. [Member] | |||||||||
Components of Regional Expenses | Regional expenses consist of the following (in millions): | ||||||||
Three Months Ended March 31, | |||||||||
2015 | 2014 | ||||||||
Aircraft fuel and related taxes | $ | 160 | $ | 252 | |||||
Salaries, wages and benefits | 31 | 5 | |||||||
Capacity purchases from third-party regional carriers | 293 | 302 | |||||||
Other rent and landing fees | 63 | 55 | |||||||
Selling expenses | 37 | 36 | |||||||
Depreciation and amortization | 42 | 37 | |||||||
Special items, net | 2 | 1 | |||||||
Other | 100 | 70 | |||||||
Total regional expenses | $ | 728 | $ | 758 | |||||
Financial_Information_for_Subs1
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | AMERICAN AIRLINES GROUP INC. | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Operating revenues: | |||||||||||||||||||||||||||||
Mainline passenger | $ | — | $ | 4,690 | $ | — | $ | 2,299 | $ | — | $ | — | $ | 6,989 | |||||||||||||||
Regional passenger | — | 699 | — | 753 | — | — | 1,452 | ||||||||||||||||||||||
Cargo | — | 162 | — | 32 | — | — | 194 | ||||||||||||||||||||||
Other | — | 818 | — | 389 | 726 | (741 | ) | 1,192 | |||||||||||||||||||||
Total operating revenues | 6,369 | — | 3,473 | 726 | (741 | ) | 9,827 | ||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Aircraft fuel and related taxes | — | 1,070 | — | 474 | — | — | 1,544 | ||||||||||||||||||||||
Salaries, wages and benefits | — | 1,585 | — | 786 | 193 | (191 | ) | 2,373 | |||||||||||||||||||||
Regional expenses | — | 728 | — | 765 | — | (31 | ) | 1,462 | |||||||||||||||||||||
Maintenance, materials and repairs | — | 304 | — | 190 | 75 | (75 | ) | 494 | |||||||||||||||||||||
Other rent and landing fees | — | 270 | — | 138 | 10 | (10 | ) | 408 | |||||||||||||||||||||
Aircraft rent | — | 225 | — | 92 | 32 | (32 | ) | 317 | |||||||||||||||||||||
Selling expenses | — | 235 | — | 101 | — | — | 336 | ||||||||||||||||||||||
Depreciation and amortization | — | 236 | — | 100 | 11 | (11 | ) | 336 | |||||||||||||||||||||
Special items, net | — | 198 | — | 105 | 4 | (4 | ) | 303 | |||||||||||||||||||||
Other | 1 | 758 | — | 281 | 385 | (387 | ) | 1,038 | |||||||||||||||||||||
Total operating expenses | 1 | 5,609 | — | 3,032 | 710 | (741 | ) | 8,611 | |||||||||||||||||||||
Operating income (loss) | (1 | ) | 760 | — | 441 | 16 | — | 1,216 | |||||||||||||||||||||
Nonoperating income (expense): | |||||||||||||||||||||||||||||
Interest income | 2 | 6 | — | 4 | — | (2 | ) | 10 | |||||||||||||||||||||
Interest expense, net | (13 | ) | (126 | ) | (9 | ) | (64 | ) | — | 2 | (210 | ) | |||||||||||||||||
Equity in earnings of subsidiaries | 944 | — | 251 | — | — | (1,195 | ) | — | |||||||||||||||||||||
Other, net | — | (63 | ) | — | (11 | ) | 1 | — | (73 | ) | |||||||||||||||||||
Total nonoperating income (expense), net | 933 | (183 | ) | 242 | (71 | ) | 1 | (1,195 | ) | (273 | ) | ||||||||||||||||||
Income before income taxes | 932 | 577 | 242 | 370 | 17 | (1,195 | ) | 943 | |||||||||||||||||||||
Income tax provision | — | 8 | — | 131 | 3 | (131 | ) | 11 | |||||||||||||||||||||
Net income | $ | 932 | $ | 569 | $ | 242 | $ | 239 | $ | 14 | $ | (1,064 | ) | $ | 932 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
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 (Loss) | AMERICAN AIRLINES GROUP INC. | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Net income | $ | 932 | $ | 569 | $ | 242 | $ | 239 | $ | 14 | $ | (1,064 | ) | $ | 932 | ||||||||||||||
Other comprehensive income (loss) before tax: | |||||||||||||||||||||||||||||
Defined benefit pension plans and retiree medical | — | (26 | ) | — | (1 | ) | — | — | (27 | ) | |||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||||||||||
Change in fair value | — | — | — | — | — | — | — | ||||||||||||||||||||||
Reclassification into earnings | — | (6 | ) | — | — | — | — | (6 | ) | ||||||||||||||||||||
Unrealized gain on investments: | |||||||||||||||||||||||||||||
Net change in value | — | 1 | — | 1 | — | — | 2 | ||||||||||||||||||||||
Other comprehensive loss before tax | — | (31 | ) | — | — | — | — | (31 | ) | ||||||||||||||||||||
Non-cash tax provision | — | — | — | — | — | — | — | ||||||||||||||||||||||
Comprehensive income | $ | 932 | $ | 538 | $ | 242 | $ | 239 | $ | 14 | $ | (1,064 | ) | $ | 901 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Net income (loss) | $ | 424 | $ | 401 | $ | 52 | $ | 126 | $ | (8 | ) | $ | (515 | ) | $ | 480 | |||||||||||||
Other comprehensive loss before tax: | |||||||||||||||||||||||||||||
Defined benefit pension plans and retiree medical | — | (44 | ) | — | (1 | ) | — | — | (45 | ) | |||||||||||||||||||
Derivative financial instruments: | |||||||||||||||||||||||||||||
Change in fair value | — | (67 | ) | — | — | — | — | (67 | ) | ||||||||||||||||||||
Reclassification into earnings | — | 7 | — | — | — | — | 7 | ||||||||||||||||||||||
Unrealized gain 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 | AMERICAN AIRLINES GROUP INC. | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
American | US | US Airways | Non- | Eliminations | American | ||||||||||||||||||||||||
American | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
Airlines Group | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
(Parent | (Parent | Consolidated | |||||||||||||||||||||||||||
Company | Company | ||||||||||||||||||||||||||||
Only) | Only) | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 884 | $ | 5 | $ | 153 | $ | 5 | $ | — | $ | 1,048 | |||||||||||||||
Short-term investments | — | 4,853 | — | 3,270 | 2 | — | 8,125 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 646 | — | 111 | — | — | 757 | ||||||||||||||||||||||
Accounts receivable, net | — | 1,437 | — | 383 | 19 | (13 | ) | 1,826 | |||||||||||||||||||||
Receivables from related parties, net | 2,409 | — | — | 242 | — | (2,651 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 623 | — | 298 | 74 | — | 995 | ||||||||||||||||||||||
Prepaid expenses and other | 79 | 635 | — | 623 | 41 | — | 1,378 | ||||||||||||||||||||||
Total current assets | 2,489 | 9,078 | 5 | 5,080 | 141 | (2,664 | ) | 14,129 | |||||||||||||||||||||
Operating property and equipment | — | 17,130 | — | 6,627 | 285 | — | 24,042 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investments in subsidiaries | 1,636 | — | 7,145 | — | — | (8,781 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,089 | — | 2 | 4,091 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 872 | — | 1,409 | — | — | 2,281 | ||||||||||||||||||||||
Other assets | 58 | 1,885 | — | 256 | 47 | (35 | ) | 2,211 | |||||||||||||||||||||
Total other assets | 1,694 | 2,757 | 7,145 | 5,754 | 47 | (8,814 | ) | 8,583 | |||||||||||||||||||||
Total assets | $ | 4,183 | $ | 28,965 | $ | 7,150 | $ | 17,461 | $ | 473 | $ | (11,478 | ) | $ | 46,754 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 802 | $ | — | $ | 482 | $ | — | $ | — | $ | 1,284 | |||||||||||||||
Accounts payable | — | 1,175 | — | 362 | 52 | (2 | ) | 1,587 | |||||||||||||||||||||
Payables to related parties, net | — | 2,168 | 480 | — | 3 | (2,651 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 3,691 | — | 1,724 | — | — | 5,415 | ||||||||||||||||||||||
Frequent flyer liability | — | 2,776 | — | — | — | — | 2,776 | ||||||||||||||||||||||
Other accrued liabilities | 39 | 1,835 | 11 | 1,164 | 124 | (2 | ) | 3,171 | |||||||||||||||||||||
Total current liabilities | 39 | 12,447 | 491 | 3,732 | 179 | (2,655 | ) | 14,233 | |||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 1,257 | 10,972 | 524 | 4,919 | — | (34 | ) | 17,638 | |||||||||||||||||||||
Pension and postretirement benefits | — | 7,355 | — | 122 | 40 | — | 7,517 | ||||||||||||||||||||||
Bankruptcy settlement obligations | — | 275 | — | — | — | — | 275 | ||||||||||||||||||||||
Other liabilities | 123 | 2,868 | — | 1,599 | 44 | (307 | ) | 4,327 | |||||||||||||||||||||
Total noncurrent liabilities | 1,380 | 21,470 | 524 | 6,640 | 84 | (341 | ) | 29,757 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 7 | — | — | — | — | — | 7 | ||||||||||||||||||||||
Additional paid-in capital | 15,049 | 10,714 | 4,727 | 5,566 | 199 | (21,206 | ) | 15,049 | |||||||||||||||||||||
Accumulated other comprehensive loss | (4,590 | ) | (4,676 | ) | (16 | ) | (8 | ) | (12 | ) | 4,712 | (4,590 | ) | ||||||||||||||||
Retained earnings (deficit) | (7,702 | ) | (10,990 | ) | 1,424 | 1,531 | 23 | 8,012 | (7,702 | ) | |||||||||||||||||||
Total stockholders’ equity (deficit) | 2,764 | (4,952 | ) | 6,135 | 7,089 | 210 | (8,482 | ) | 2,764 | ||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 4,183 | $ | 28,965 | $ | 7,150 | $ | 17,461 | $ | 473 | $ | (11,478 | ) | $ | 46,754 | ||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Cash | $ | 1 | $ | 785 | $ | 2 | $ | 199 | $ | 7 | $ | — | $ | 994 | |||||||||||||||
Short-term investments | — | 3,290 | — | 3,016 | 3 | — | 6,309 | ||||||||||||||||||||||
Restricted cash and short-term investments | — | 650 | — | 124 | — | — | 774 | ||||||||||||||||||||||
Accounts receivable, net | — | 1,445 | — | 324 | 15 | (13 | ) | 1,771 | |||||||||||||||||||||
Receivables from related parties, net | 1,893 | — | 157 | 933 | 526 | (3,509 | ) | — | |||||||||||||||||||||
Aircraft fuel, spare parts and supplies, net | — | 625 | — | 294 | 85 | — | 1,004 | ||||||||||||||||||||||
Prepaid expenses and other | — | 462 | — | 912 | 41 | (155 | ) | 1,260 | |||||||||||||||||||||
Total current assets | 1,894 | 7,257 | 159 | 5,802 | 677 | (3,677 | ) | 12,112 | |||||||||||||||||||||
Operating property and equipment | — | 16,299 | — | 6,506 | 279 | — | 23,084 | ||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||
Investments in subsidiaries | 847 | — | 6,870 | — | — | (7,717 | ) | — | |||||||||||||||||||||
Goodwill | — | — | — | 4,090 | — | 1 | 4,091 | ||||||||||||||||||||||
Intangibles, net of accumulated amortization | — | 815 | — | 1,425 | — | — | 2,240 | ||||||||||||||||||||||
Other assets | 53 | 1,921 | — | 267 | 38 | (35 | ) | 2,244 | |||||||||||||||||||||
Total other assets | 900 | 2,736 | 6,870 | 5,782 | 38 | (7,751 | ) | 8,575 | |||||||||||||||||||||
Total assets | $ | 2,794 | $ | 26,292 | $ | 7,029 | $ | 18,090 | $ | 994 | $ | (11,428 | ) | $ | 43,771 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Current maturities of long-term debt and capital leases | $ | — | $ | 1,230 | $ | — | $ | 477 | $ | 1 | $ | — | $ | 1,708 | |||||||||||||||
Accounts payable | — | 1,029 | — | 287 | 61 | — | 1,377 | ||||||||||||||||||||||
Payables to related parties, net | — | 2,563 | 634 | 73 | 239 | (3,509 | ) | — | |||||||||||||||||||||
Air traffic liability | — | 2,989 | — | 1,263 | — | — | 4,252 | ||||||||||||||||||||||
Frequent flyer liability | — | 1,823 | — | 984 | — | — | 2,807 | ||||||||||||||||||||||
Other accrued liabilities | 14 | 1,886 | 3 | 1,253 | 138 | (3 | ) | 3,291 | |||||||||||||||||||||
Total current liabilities | 14 | 11,520 | 637 | 4,337 | 439 | (3,512 | ) | 13,435 | |||||||||||||||||||||
Noncurrent liabilities | |||||||||||||||||||||||||||||
Long-term debt and capital leases, net of current maturities | 758 | 10,004 | 524 | 4,945 | — | (35 | ) | 16,196 | |||||||||||||||||||||
Pension and postretirement benefits | — | 7,400 | — | 122 | 40 | — | 7,562 | ||||||||||||||||||||||
Mandatorily convertible preferred stock and other bankruptcy settlement obligations | — | 325 | — | — | — | — | 325 | ||||||||||||||||||||||
Other liabilities | 1 | 2,615 | — | 1,861 | 317 | (562 | ) | 4,232 | |||||||||||||||||||||
Total noncurrent liabilities | 759 | 20,344 | 524 | 6,928 | 357 | (597 | ) | 28,315 | |||||||||||||||||||||
Stockholders’ equity (deficit) | |||||||||||||||||||||||||||||
Common stock | 7 | — | — | — | — | — | 7 | ||||||||||||||||||||||
Additional paid-in capital | 15,135 | 10,632 | 4,703 | 5,542 | 199 | (21,076 | ) | 15,135 | |||||||||||||||||||||
Accumulated other comprehensive loss | (4,559 | ) | (4,645 | ) | (16 | ) | (8 | ) | (12 | ) | 4,681 | (4,559 | ) | ||||||||||||||||
Retained earnings (deficit) | (8,562 | ) | (11,559 | ) | 1,181 | 1,291 | 11 | 9,076 | (8,562 | ) | |||||||||||||||||||
Total stockholders’ equity (deficit) | 2,021 | (5,572 | ) | 5,868 | 6,825 | 198 | (7,319 | ) | 2,021 | ||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 2,794 | $ | 26,292 | $ | 7,029 | $ | 18,090 | $ | 994 | $ | (11,428 | ) | $ | 43,771 | ||||||||||||||
Condensed Consolidating Statement of Cash Flows | AMERICAN AIRLINES GROUP INC. | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | (242 | ) | $ | 2,285 | $ | 3 | $ | 430 | $ | 18 | $ | — | $ | 2,494 | ||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||
Capital expenditures and aircraft purchase deposits | — | (1,160 | ) | — | (229 | ) | (20 | ) | — | (1,409 | ) | ||||||||||||||||||
Purchases of short-term investments | — | (1,945 | ) | — | (1,529 | ) | — | — | (3,474 | ) | |||||||||||||||||||
Sales of short-term investments | — | 382 | — | 1,278 | — | — | 1,660 | ||||||||||||||||||||||
Decrease in restricted cash and short-term investments | — | 4 | — | 13 | — | — | 17 | ||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 4 | — | — | — | — | 4 | ||||||||||||||||||||||
Net cash used in investing activities | — | (2,715 | ) | — | (467 | ) | (20 | ) | — | (3,202 | ) | ||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||
Payments on long-term debt and capital leases | — | (680 | ) | — | (66 | ) | — | — | (746 | ) | |||||||||||||||||||
Proceeds from issuance of long-term debt | 500 | 1,227 | — | 39 | — | — | 1,766 | ||||||||||||||||||||||
Deferred financing costs | (7 | ) | (18 | ) | — | — | — | — | (25 | ) | |||||||||||||||||||
Treasury stock repurchases | (181 | ) | — | — | — | — | — | (181 | ) | ||||||||||||||||||||
Dividend payment | (70 | ) | — | — | — | — | — | (70 | ) | ||||||||||||||||||||
Other financing activities | — | — | — | 18 | — | — | 18 | ||||||||||||||||||||||
Net cash provided by (used in) financing activities | 242 | 529 | — | (9 | ) | — | — | 762 | |||||||||||||||||||||
Net increase (decrease) in cash | — | 99 | 3 | (46 | ) | (2 | ) | — | 54 | ||||||||||||||||||||
Cash at beginning of period | 1 | 785 | 2 | 199 | 7 | — | 994 | ||||||||||||||||||||||
Cash at end of period | $ | 1 | $ | 884 | $ | 5 | $ | 153 | $ | 5 | $ | — | $ | 1,048 | |||||||||||||||
AMERICAN AIRLINES GROUP INC. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
(In millions)(Unaudited) | |||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
American | American | US | US Airways | Non- | Eliminations | American | |||||||||||||||||||||||
Airlines Group | Airways | Guarantor | and | Airlines | |||||||||||||||||||||||||
(Parent | Group | Subsidiaries | Reclassifications | Group Inc. | |||||||||||||||||||||||||
Company | (Parent | Consolidated | |||||||||||||||||||||||||||
Only) | Company | ||||||||||||||||||||||||||||
Only) | |||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||
Purchases of short-term investments | — | (499 | ) | — | (677 | ) | — | — | (1,176 | ) | |||||||||||||||||||
Sales of short-term investments | — | 682 | — | 200 | — | — | 882 | ||||||||||||||||||||||
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 | ||||||||||||||||||||||
Deferred financing costs | — | (5 | ) | — | (2 | ) | — | — | (7 | ) | |||||||||||||||||||
Sale-leaseback transactions | — | 165 | — | — | — | — | 165 | ||||||||||||||||||||||
Exercise of stock options | 9 | — | — | — | — | — | 9 | ||||||||||||||||||||||
Treasury stock repurchases | (84 | ) | — | — | — | — | — | (84 | ) | ||||||||||||||||||||
Funds transferred from (to) affiliates, net | 84 | (84 | ) | — | — | — | — | — | |||||||||||||||||||||
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 | |||||||||||||||
Transactions_with_Related_Part1
Transactions with Related Parties (Tables) (American Airlines, Inc. [Member]) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
American Airlines, Inc. [Member] | |||||||||
Summary of Net Payables to (Receivables from) Related Parties | The following represents the net payables to (receivables from) related parties (in millions): | ||||||||
March 31, 2015 | December 31, 2014 | ||||||||
American Airlines Group Parent | $ | 284 | $ | 40 | |||||
US Airways Group, Inc. | (281 | ) | 320 | ||||||
Envoy Aviation Group (1) and other subsidiaries | 2,165 | 2,203 | |||||||
Total | $ | 2,168 | $ | 2,563 | |||||
(1) | 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. |
Emergence_from_Chapter_11_and_1
Emergence from Chapter 11 and Merger with US Airways Group - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Feb. 10, 2015 | Dec. 09, 2013 | Dec. 31, 2014 | |
Bankruptcy [Line Items] | ||||
Common stock, par value | $0.01 | 0.01 | ||
Common stock, shares authorized | 1,750,000,000 | 1,750,000,000 | ||
Common stock, shares issued | 693,800,651 | 697,474,535 | ||
Single-Dip General Unsecured Claims | $210,000,000 | $2,450,000,000 | 248,000,000 | |
Double-Dip General Unsecured Claims | 2,450,000,000 | |||
Shares released from restriction and issued | 800,000 | |||
Merger common stock conversion ratio | 1 | |||
Federal NOL carryforwards, maximum allowable utilization | 9,000,000,000 | |||
Series A Convertible Preferred Stock [Member] | ||||
Bankruptcy [Line Items] | ||||
Preferred stock, shares issued | 168,000,000 | |||
Preferred stock, par or stated value per share | $0.01 | |||
Common Stock [Member] | ||||
Bankruptcy [Line Items] | ||||
Shares reserved for future issuance | 26,000,000 | 26,800,000 | ||
Shares released from restriction and issued | 800,000 | |||
Stock repurchased (in shares) | 100,000 | |||
Aggregate stock repurchase price | 4,000,000 | |||
American Airlines, Inc. [Member] | ||||
Bankruptcy [Line Items] | ||||
Common stock, par value | $1 | $0.01 | 1 | |
Common stock, shares authorized | 1,000 | 1,000 | ||
Common stock, shares issued | 1,000 | 1,000 | ||
Single-Dip General Unsecured Claims | 2,450,000,000 | |||
Double-Dip General Unsecured Claims | 2,450,000,000 | |||
Shares released from restriction and issued | 800,000 | |||
Federal NOL carryforwards, maximum allowable utilization | 9,500,000,000 | |||
American Airlines, Inc. [Member] | Series A Convertible Preferred Stock [Member] | ||||
Bankruptcy [Line Items] | ||||
Preferred stock, shares issued | 168,000,000 | |||
Preferred stock, par or stated value per share | $0.01 | |||
American Airlines, Inc. [Member] | Common Stock [Member] | ||||
Bankruptcy [Line Items] | ||||
Shares reserved for future issuance | 26,000,000 | 26,800,000 | ||
Shares released from restriction and issued | 800,000 | |||
Stock repurchased (in shares) | 100,000 | |||
Aggregate stock repurchase price | 4,000,000 | |||
American Airlines, Inc. [Member] | Maximum [Member] | ||||
Bankruptcy [Line Items] | ||||
Common stock, shares authorized | 544,000,000 | |||
Common Stock [Member] | ||||
Bankruptcy [Line Items] | ||||
Shares reserved for future issuance | 26,000,000 | 30,400,000 | 26,800,000 | |
Shares released from restriction and issued | 800,000 | |||
Stock repurchased (in shares) | 3,800,000 | 100,000 | ||
Aggregate stock repurchase price | 190,000,000 | 4,000,000 | ||
Common Stock [Member] | American Airlines, Inc. [Member] | ||||
Bankruptcy [Line Items] | ||||
Shares reserved for future issuance | 26,000,000 | 30,400,000 | 26,800,000 | |
Shares released from restriction and issued | 800,000 | |||
Stock repurchased (in shares) | 100,000 | |||
Aggregate stock repurchase price | $4,000,000 | |||
American Airlines Group [Member] | ||||
Bankruptcy [Line Items] | ||||
Common stock, par value | $0.01 | |||
Common stock, shares issued | 53,000,000 | |||
Distributions made to holders | 0.0665 | 0.6776 | ||
Percentage of diluted equity ownership | 28.00% | |||
Remaining diluted equity ownership | 72.00% | |||
Remaining diluted equity ownership, shares | 544,000,000 | |||
American Airlines Group [Member] | Maximum [Member] | ||||
Bankruptcy [Line Items] | ||||
Common stock, shares authorized | 544,000,000 | |||
American Airlines Group [Member] | American Airlines, Inc. [Member] | ||||
Bankruptcy [Line Items] | ||||
Distributions made to holders | 0.0665 | 0.6776 |
Bankruptcy_Settlement_Obligati2
Bankruptcy Settlement Obligations - Components of Bankruptcy Settlement Obligations (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 09, 2013 |
In Millions, unless otherwise specified | |||
Bankruptcy Settlement Obligations [Line Items] | |||
Single-Dip Equity Obligations | $210 | $248 | $2,450 |
Labor-related deemed claim | 65 | 77 | |
Total | 275 | 325 | |
American Airlines, Inc. [Member] | |||
Bankruptcy Settlement Obligations [Line Items] | |||
Single-Dip Equity Obligations | 2,450 | ||
Single-Dip and Double-Dip Equity Obligations | 210 | 248 | |
Labor-related deemed claim | 65 | 77 | |
Total | $275 | $325 |
Bankruptcy_Settlement_Obligati3
Bankruptcy Settlement Obligations - Additional Information (Detail) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Feb. 10, 2015 | Dec. 31, 2014 | Dec. 09, 2013 | |
Bankruptcy Settlement Obligations [Line Items] | ||||
Single-Dip Equity Obligations | $210,000,000 | $248,000,000 | $2,450,000,000 | |
Shares issued per $1,000 in reduction of allowed claims | 30.7553 | |||
Allowed claims including tax liabilities | 1,000 | |||
Labor-related deemed claim | 1,500,000,000 | |||
Labor-related deemed claim | 65,000,000 | 77,000,000 | ||
Shares released from restriction and issued | 800,000 | |||
American Airlines, Inc. [Member] | ||||
Bankruptcy Settlement Obligations [Line Items] | ||||
Single-Dip Equity Obligations | 2,450,000,000 | |||
Shares issued per $1,000 in reduction of allowed claims | 30.7553 | |||
Allowed claims including tax liabilities | 1,000 | |||
Labor-related deemed claim | 1,500,000,000 | |||
Labor-related deemed claim | 65,000,000 | 77,000,000 | ||
Shares released from restriction and issued | 800,000 | |||
Single-Dip and Double-Dip Equity Obligations | $210,000,000 | $248,000,000 |
Special_Items_Components_of_Sp
Special Items - Components of Special Items, Net Included in Condensed Consolidated Statements of Operations (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Restructuring Cost and Reserve [Line Items] | ||
Mainline operating special items, net | $303 | ($137) |
Nonoperating special items, net | -8 | 47 |
Income tax special items, net | 9 | 8 |
Regional Operating Special Items, Net [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Mainline operating special items, net | 7 | 4 |
American Airlines, Inc. [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Mainline operating special items, net | 198 | -216 |
Nonoperating special items, net | -8 | 44 |
Income tax special items, net | 8 | 7 |
American Airlines, Inc. [Member] | Regional Operating Special Items, Net [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Mainline operating special items, net | $2 | $1 |
Special_Items_Components_of_Sp1
Special Items - Components of Special Items, Net Included in Condensed Consolidated Statements of Operations (Parenthetical) (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Restructuring Cost and Reserve [Line Items] | ||
Mainline operating special items, net | $303 | ($137) |
Integration related costs | 216 | 202 |
Net contract charges | 99 | |
Fair value adjustments for bankruptcy settlement obligations | 6 | 32 |
Gain related to sale of DCA slots | 309 | |
Nonoperating special items, net | -8 | 47 |
Non cash interest accretion, bankruptcy settlement obligations | 31 | |
American Airlines, Inc. [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Mainline operating special items, net | 198 | -216 |
Integration related costs | 148 | 134 |
Net contract charges | 64 | |
Fair value adjustments for bankruptcy settlement obligations | 6 | 56 |
Gain related to sale of DCA slots | 305 | |
Nonoperating special items, net | -8 | 44 |
Non cash interest accretion, bankruptcy settlement obligations | 27 | |
Secured Debt Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Write off of unamortized deferred issuance costs | 9 | |
Secured Debt Member] | American Airlines, Inc. [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Write off of unamortized deferred issuance costs | 9 | |
Secured Debt Member] | AAdvantage Loan [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Early debt extinguishment gain | 17 | |
Secured Debt Member] | AAdvantage Loan [Member] | American Airlines, Inc. [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Early debt extinguishment gain | 17 | |
Venezuelan [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Foreign currency losses | 13 | |
Venezuelan [Member] | American Airlines, Inc. [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Foreign currency losses | $13 |
Earnings_per_Share_Computation
Earnings per Share - Computation of Basic and Diluted Earnings per Share (EPS) (Detail) (USD $) | 3 Months Ended | |
In Millions, except Share data in Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Basic EPS: | ||
Net income | $932 | $480 |
Weighted-average common shares outstanding | 696,415 | 723,971 |
Basic EPS | $1.34 | $0.66 |
Diluted EPS: | ||
Net income | 932 | 480 |
Change in fair value of conversion feature on 7.25% convertible senior notes | 0 | 5 |
Net income for purposes of computing diluted EPS | $932 | $485 |
Share computation for diluted earnings per share (in thousands): | ||
Weighted-average shares outstanding | 696,415 | 723,971 |
Dilutive effect of stock awards | 20,515 | 13,534 |
Assumed conversion of convertible senior notes | 0 | 3,830 |
Weighted average common shares outstanding | 716,930 | 741,335 |
Diluted earnings per share | $1.30 | $0.65 |
Stock options, SARs and RSUs because inclusion would be antidilutive | 1 | 33 |
Earnings_per_Share_Computation1
Earnings per Share - Computation of Basic and Diluted Earnings per Share (EPS) (Parenthetical) (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Debt instrument, stated interest rate percentage | 7.25% | |
Increase in net income for purposes of computing diluted earnings per share | $0 | $5 |
Convertible Senior Notes, 7.25, Due in 2014 [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Debt instrument, stated interest rate percentage | 7.25% |
Share_Repurchase_Program_and_D1
Share Repurchase Program and Dividend - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | |
Share data in Millions, except Per Share data, unless otherwise specified | Feb. 10, 2015 | Jan. 27, 2015 | Mar. 31, 2015 |
Equity, Class of Treasury Stock [Line Items] | |||
Stock repurchase program, new authorized amount | $2,000,000,000 | ||
Share repurchase program completion date | 31-Dec-16 | ||
Cash dividends declared per common share | $0.10 | ||
Total cash payment for dividends | 70,000,000 | ||
Common Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock repurchased (in shares) | 0.1 | 3.8 | |
Aggregate stock repurchase price | $4,000,000 | $190,000,000 | |
Average cost per share | $49.47 | ||
Cash dividends declared per common share | $0.10 | ||
Common Stock [Member] | Installment One Current Fiscal Year [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Dividends payable, declaration date | 27-Jan-15 | ||
Dividends payable, record date | 9-Feb-15 | ||
Dividends payable, payable date | 23-Feb-15 |
Debt_Components_of_LongTerm_De
Debt - Components of Long-Term Debt (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | $18,971 | $17,963 |
Less: Total unamortized debt discount | 49 | 59 |
Less: Current maturities | 1,284 | 1,708 |
Long-term debt and capital lease obligations, net of current maturities | 17,638 | 16,196 |
Secured Debt Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 17,221 | 16,713 |
Secured Debt Member] | 2013 Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,867 | 1,872 |
Secured Debt Member] | 2014 Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 750 | 750 |
Secured Debt Member] | Credit Facility, Tranche B-1, Citicorp 2013 [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 990 | 990 |
Secured Debt Member] | Credit Facility, Tranche B-2, Citicorp 2013 [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 594 | 594 |
Secured Debt Member] | Enhanced Equipment Trust Certificates [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 7,912 | 7,028 |
Secured Debt Member] | Equipment Loans and Other Notes Payable [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 3,025 | 2,952 |
Secured Debt Member] | Special Facility Revenue Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,100 | 1,100 |
Secured Debt Member] | AAdvantage Loan [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 0 | 433 |
Secured Debt Member] | Other Secured Obligations, Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 983 | 994 |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,750 | 1,250 |
Unsecured Debt [Member] | Senior Notes, 5.50, Due in 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 750 | 750 |
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 |
Unsecured Debt [Member] | Senior Notes, 4.625, Due in 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 500 | |
American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 11,805 | 11,276 |
Less: Total unamortized debt discount | 31 | 42 |
Less: Current maturities | 802 | 1,230 |
Long-term debt and capital lease obligations, net of current maturities | 10,972 | 10,004 |
American Airlines, Inc. [Member] | Secured Debt Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 11,778 | 11,249 |
American Airlines, Inc. [Member] | Secured Debt Member] | 2013 Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,867 | 1,872 |
American Airlines, Inc. [Member] | Secured Debt Member] | 2014 Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 750 | 750 |
American Airlines, Inc. [Member] | Secured Debt Member] | Enhanced Equipment Trust Certificates [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 5,186 | 4,271 |
American Airlines, Inc. [Member] | Secured Debt Member] | Equipment Loans and Other Notes Payable [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,927 | 1,860 |
American Airlines, Inc. [Member] | Secured Debt Member] | Special Facility Revenue Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,071 | 1,071 |
American Airlines, Inc. [Member] | Secured Debt Member] | AAdvantage Loan [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 0 | 433 |
American Airlines, Inc. [Member] | Secured Debt Member] | Other Secured Obligations, Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 977 | 992 |
American Airlines, Inc. [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 27 | 27 |
American Airlines, Inc. [Member] | Unsecured Debt [Member] | Affiliate Unsecured Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | $27 | $27 |
Debt_Components_of_LongTerm_De1
Debt - Components of Long-Term Debt (Parenthetical) (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Debt Instrument [Line Items] | ||
Interest rate at end of period | 7.25% | |
Secured Debt Member] | 2013 Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | 2019 | |
Interest rate at end of period | 3.75% | |
Secured Debt Member] | 2013 Credit Facilities [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | 2019 | |
Interest rate at end of period | 3.75% | |
Secured Debt Member] | 2014 Credit Facilities [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | 2021 | |
Interest rate at end of period | 4.25% | |
Secured Debt Member] | 2014 Credit Facilities [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | 2021 | |
Interest rate at end of period | 4.25% | |
Secured Debt Member] | Credit Facility, Tranche B-1, Citicorp 2013 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | 2019 | |
Interest rate at end of period | 3.50% | |
Secured Debt Member] | Credit Facility, Tranche B-2, Citicorp 2013 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | 2016 | |
Interest rate at end of period | 3.00% | |
Secured Debt Member] | Enhanced Equipment Trust Certificates [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 3.38% | |
Fixed and variable interest rates, maximum | 9.75% | |
Debt instrument, maturity date range, start | 2015 | |
Debt instrument, maturity date range, end | 2027 | |
Secured Debt Member] | Enhanced Equipment Trust Certificates [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 3.38% | |
Fixed and variable interest rates, maximum | 7.00% | |
Debt instrument, maturity date range, start | 2017 | |
Debt instrument, maturity date range, end | 2027 | |
Secured Debt Member] | Equipment Loans and Other Notes Payable [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 1.50% | |
Fixed and variable interest rates, maximum | 8.48% | |
Debt instrument, maturity date range, start | 2015 | |
Debt instrument, maturity date range, end | 2027 | |
Secured Debt Member] | Equipment Loans and Other Notes Payable [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 1.50% | |
Fixed and variable interest rates, maximum | 8.10% | |
Debt instrument, maturity date range, start | 2015 | |
Debt instrument, maturity date range, end | 2026 | |
Secured Debt Member] | Special Facility Revenue Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 5.50% | |
Fixed and variable interest rates, maximum | 8.50% | |
Debt instrument, maturity date range, start | 2016 | |
Debt instrument, maturity date range, end | 2035 | |
Secured Debt Member] | Special Facility Revenue Bonds [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 5.50% | |
Fixed and variable interest rates, maximum | 8.50% | |
Debt instrument, maturity date range, start | 2016 | |
Debt instrument, maturity date range, end | 2035 | |
Secured Debt Member] | AAdvantage Loan [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate at end of period | 8.30% | |
Secured Debt Member] | AAdvantage Loan [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate at end of period | 8.30% | |
Secured Debt Member] | Other Secured Obligations, Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 3.60% | |
Fixed and variable interest rates, maximum | 12.24% | |
Debt instrument, maturity date range, start | 2015 | |
Debt instrument, maturity date range, end | 2028 | |
Secured Debt Member] | Other Secured Obligations, Fixed Rate [Member] | American Airlines, Inc. [Member] | ||
Debt Instrument [Line Items] | ||
Fixed and variable interest rates, minimum | 4.19% | |
Fixed and variable interest rates, maximum | 12.24% | |
Debt instrument, maturity date range, start | 2015 | |
Debt instrument, maturity date range, end | 2028 | |
Unsecured Debt [Member] | Senior Notes, 5.50, Due in 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate at end of period | 5.50% | |
Debt instrument, maturity date | 2019 | |
Unsecured Debt [Member] | Senior Notes, 6.125, Due in 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate at end of period | 6.13% | |
Debt instrument, maturity date | 2018 | |
Unsecured Debt [Member] | Senior Notes, 4.625, Due in 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate at end of period | 4.63% | |
Debt instrument, maturity date | 2020 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2015 | Jan. 02, 2015 | Mar. 31, 2015 | Mar. 31, 2014 | |
Aircraft | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, stated interest rate percentage | 7.25% | ||||
Enhanced Equipment Trust Certificate [Member] | Equipment Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | $1,200,000,000 | $1,200,000,000 | $1,200,000,000 | ||
Number of owned aircraft | 28 | 28 | 28 | ||
Remaining escrowed proceeds | 195,000,000 | ||||
Total escrowed proceeds | 1,000,000,000 | ||||
Number of aircraft secured by liens | 19 | ||||
Number of aircraft delivered | 9 | ||||
Enhanced Equipment Trust Certificate [Member] | 2015 Equipment Notes, Series A [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable | 796,000,000 | 796,000,000 | 796,000,000 | ||
Debt instrument, stated interest rate percentage | 3.38% | 3.38% | 3.38% | ||
Debt instrument, maturity date | May-27 | ||||
Enhanced Equipment Trust Certificate [Member] | 2015 Equipment Notes, Series B [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable | 223,000,000 | 223,000,000 | 223,000,000 | ||
Debt instrument, stated interest rate percentage | 3.70% | 3.70% | 3.70% | ||
Debt instrument, maturity date | May-23 | ||||
Enhanced Equipment Trust Certificate [Member] | American Airlines, Inc. [Member] | Equipment Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | 1,200,000,000 | 1,200,000,000 | 1,200,000,000 | ||
Number of owned aircraft | 28 | 28 | 28 | ||
Remaining escrowed proceeds | 195,000,000 | ||||
Total escrowed proceeds | 1,000,000,000 | ||||
Number of aircraft secured by liens | 19 | ||||
Number of aircraft remaining to be delivered | 9 | ||||
Enhanced Equipment Trust Certificate [Member] | American Airlines, Inc. [Member] | 2014 Equipment Notes, Series A [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable | 796,000,000 | 796,000,000 | 796,000,000 | ||
Debt instrument, stated interest rate percentage | 3.38% | 3.38% | 3.38% | ||
Debt instrument, maturity date | May-27 | ||||
Enhanced Equipment Trust Certificate [Member] | American Airlines, Inc. [Member] | 2014 Equipment Notes, Series B [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable | 223,000,000 | 223,000,000 | 223,000,000 | ||
Debt instrument, stated interest rate percentage | 3.70% | 3.70% | 3.70% | ||
Debt instrument, maturity date | May-23 | ||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable | 247,000,000 | 247,000,000 | 247,000,000 | ||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2025 | ||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2027 | ||||
Secured Debt Member] | AAdvantage Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayment of loan outstanding | 400,000,000 | ||||
Early debt extinguishment gain | 17,000,000 | ||||
Secured Debt Member] | American Airlines, Inc. [Member] | Other Aircraft Financing Transaction [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable | 208,000,000 | 208,000,000 | 208,000,000 | ||
Secured Debt Member] | American Airlines, Inc. [Member] | Other Aircraft Financing Transaction [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2025 | ||||
Secured Debt Member] | American Airlines, Inc. [Member] | Other Aircraft Financing Transaction [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2026 | ||||
Secured Debt Member] | American Airlines, Inc. [Member] | AAdvantage Loan [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayment of loan outstanding | 400,000,000 | ||||
Early debt extinguishment gain | 17,000,000 | ||||
Unsecured Debt [Member] | Senior Notes, 4.625, Due in 2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount | $500,000,000 | $500,000,000 | $500,000,000 | ||
Debt instrument, stated interest rate percentage | 4.63% | 4.63% | 4.63% | ||
Debt instrument, maturity date | 2020 | ||||
Redemption price percentage | 101.00% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 09, 2013 | |
Income Taxes [Line Items] | ||||
Unrecognized federal tax benefit | $867,000,000 | |||
Federal NOL carryforwards, maximum allowable utilization | 9,000,000,000 | |||
Alternative minimum tax credit carryforwards | 341,000,000 | |||
Non-cash deferred income tax provision | 9,000,000 | 8,000,000 | ||
State and international tax expense | 2,000,000 | 5,000,000 | ||
American Airlines, Inc. [Member] | ||||
Income Taxes [Line Items] | ||||
Unrecognized federal tax benefit | 712,000,000 | |||
Federal NOL carryforwards, maximum allowable utilization | 9,500,000,000 | |||
Alternative minimum tax credit carryforwards | 435,000,000 | |||
Non-cash deferred income tax provision | 8,000,000 | 7,000,000 | ||
State and international tax expense | 4,000,000 | |||
Internal Revenue Service (IRS) [Member] | ||||
Income Taxes [Line Items] | ||||
NOL subject to expiration | 10,100,000,000 | |||
Valuation allowance | 4,500,000,000 | |||
Internal Revenue Service (IRS) [Member] | American Airlines, Inc. [Member] | ||||
Income Taxes [Line Items] | ||||
NOL subject to expiration | 10,300,000,000 | |||
Valuation allowance | 5,100,000,000 | |||
State and Local Jurisdiction [Member] | ||||
Income Taxes [Line Items] | ||||
NOL subject to expiration | 4,600,000,000 | |||
NOL carryforwards expiration year, range start | 2015 | |||
NOL carryforwards expiration year, range end | 2034 | |||
Valuation allowance | 264,000,000 | |||
State and Local Jurisdiction [Member] | American Airlines, Inc. [Member] | ||||
Income Taxes [Line Items] | ||||
NOL subject to expiration | 3,900,000,000 | |||
NOL carryforwards expiration year, range start | 2015 | |||
NOL carryforwards expiration year, range end | 2034 | |||
Valuation allowance | 208,000,000 | |||
State and Local Jurisdiction [Member] | American Airlines, Inc. [Member] | Available for use in 2015 [Member] | ||||
Income Taxes [Line Items] | ||||
NOL subject to expiration | 4,600,000,000 | |||
Federal [Member] | ||||
Income Taxes [Line Items] | ||||
NOL carryforwards expiration year | 2022 | |||
Federal [Member] | American Airlines, Inc. [Member] | ||||
Income Taxes [Line Items] | ||||
NOL carryforwards expiration year | 2022 | |||
Federal [Member] | American Airlines, Inc. [Member] | Available for use in 2015 [Member] | ||||
Income Taxes [Line Items] | ||||
NOL subject to expiration | $10,100,000,000 |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted cash and short-term investments | $757 | $774 |
Fair value of assets and liabilities measured on recurring basis | 8,882 | |
American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted cash and short-term investments | 646 | 650 |
Fair value of assets and liabilities measured on recurring basis | 5,499 | |
Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 8,125 | |
Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,853 | |
Money Market Funds [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,130 | |
Money Market Funds [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,009 | |
Government Agency Investments [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 101 | |
Repurchase Agreements [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 46 | |
Repurchase Agreements [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 46 | |
Corporate Obligations [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,110 | |
Corporate Obligations [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,151 | |
Bank Notes / Certificates of Deposit / Time Deposits [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,738 | |
Bank Notes / Certificates of Deposit / Time Deposits [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,647 | |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted cash and short-term investments | 757 | |
Fair value of assets and liabilities measured on recurring basis | 1,887 | |
Level 1 [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Restricted cash and short-term investments | 646 | |
Fair value of assets and liabilities measured on recurring basis | 1,655 | |
Level 1 [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,130 | |
Level 1 [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,009 | |
Level 1 [Member] | Money Market Funds [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,130 | |
Level 1 [Member] | Money Market Funds [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,009 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets and liabilities measured on recurring basis | 6,995 | |
Level 2 [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of assets and liabilities measured on recurring basis | 3,844 | |
Level 2 [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 6,995 | |
Level 2 [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 3,844 | |
Level 2 [Member] | Government Agency Investments [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 101 | |
Level 2 [Member] | Repurchase Agreements [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 46 | |
Level 2 [Member] | Repurchase Agreements [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 46 | |
Level 2 [Member] | Corporate Obligations [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,110 | |
Level 2 [Member] | Corporate Obligations [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,151 | |
Level 2 [Member] | Bank Notes / Certificates of Deposit / Time Deposits [Member] | Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,738 | |
Level 2 [Member] | Bank Notes / Certificates of Deposit / Time Deposits [Member] | Short-Term Investments [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $1,647 |
Fair_Value_Measurements_Summar1
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) (Maturity Dates Exceeding One Year [Member], USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Corporate Obligations [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | $1,000 |
Corporate Obligations [Member] | American Airlines, Inc. [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 338 |
Bank Notes / Certificates of Deposit / Time Deposits [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 990 |
Bank Notes / Certificates of Deposit / Time Deposits [Member] | American Airlines, Inc. [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | $476 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Level 1 to Level 2 transfers amount | $0 | |
American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Level 1 to Level 2 transfers amount | 0 | |
Venezuelan [Member] | Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign earnings repatriated | 644,000,000 | 656,000,000 |
Decrease due to translation and repatriation of earnings | 12,000,000 | |
Venezuelan [Member] | Cash and Cash Equivalents [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign earnings repatriated | 644,000,000 | 656,000,000 |
Decrease due to translation and repatriation of earnings | 12,000,000 | |
Venezuelan [Member] | 6.3 Bolivars per Dollar [Member] | Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign earnings repatriated | 621,000,000 | |
Foreign currency translation exchange rate | 6.3 | |
Venezuelan [Member] | 6.3 Bolivars per Dollar [Member] | Cash and Cash Equivalents [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign earnings repatriated | 621,000,000 | |
Foreign currency translation exchange rate | 6.3 | |
Venezuelan [Member] | 12.0 Bolivars per Dollar [Member] | Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign earnings repatriated | 23,000,000 | |
Foreign currency translation exchange rate | 12 | |
Venezuelan [Member] | 12.0 Bolivars per Dollar [Member] | Cash and Cash Equivalents [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign earnings repatriated | $23,000,000 | |
Foreign currency translation exchange rate | 12 |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, including current maturities | $18,922 | $17,904 |
Carrying Value [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, including current maturities | 11,774 | 11,234 |
Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, including current maturities | 19,640 | 18,542 |
Fair Value [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, including current maturities | $12,174 | $11,618 |
Retirement_Benefits_Components
Retirement Benefits - Components of Net Periodic Benefit Cost (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Pension Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $1 | |
Interest cost | 184 | 186 |
Expected return on assets | -213 | -196 |
Settlements | 2 | |
Prior service cost (benefit) | 7 | 7 |
Unrecognized net loss (gain) | 28 | 11 |
Net periodic benefit cost | 7 | 10 |
Pension Benefits [Member] | American Airlines, Inc. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | 184 | 185 |
Expected return on assets | -212 | -195 |
Settlements | 2 | |
Prior service cost (benefit) | 7 | 7 |
Unrecognized net loss (gain) | 28 | 11 |
Net periodic benefit cost | 7 | 10 |
Retiree Medical and Other Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 1 | |
Interest cost | 13 | 15 |
Expected return on assets | -5 | -5 |
Prior service cost (benefit) | -61 | -61 |
Unrecognized net loss (gain) | -2 | -2 |
Net periodic benefit cost | -54 | -53 |
Retiree Medical and Other Benefits [Member] | American Airlines, Inc. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | 11 | 14 |
Expected return on assets | -5 | -5 |
Prior service cost (benefit) | -59 | -60 |
Unrecognized net loss (gain) | -2 | -2 |
Net periodic benefit cost | ($55) | ($53) |
Retirement_Benefits_Components1
Retirement Benefits - Components of Net Periodic Benefit Cost (Parenthetical) (Detail) (Other Postretirement Benefit Plans [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |
Amortization of prior service costs | $1 |
American Airlines, Inc. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Amortization of prior service costs | $1 |
Retirement_Benefits_Additional
Retirement Benefits - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |
Defined benefit plans, estimated future employer contributions until 2019 | $0 |
American Airlines, Inc. [Member] | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |
Defined benefit plans, estimated future employer contributions until 2019 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other comprehensive income (loss) before tax | ($31) | ($103) |
Beginning Balance, net of tax | -4,559 | |
Other comprehensive income (loss), before reclassifications, net of tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | -31 | -36 |
Net current-period other comprehensive income (loss), net of tax | -31 | |
Ending Balance, net of tax | -4,590 | |
American Airlines, Inc. [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other comprehensive income (loss) before tax | -31 | -102 |
Beginning Balance, net of tax | -4,645 | |
Other comprehensive income (loss), before reclassifications, net of tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | -31 | -35 |
Net current-period other comprehensive income (loss), net of tax | -31 | |
Ending Balance, net of tax | -4,676 | |
Pension and Retiree Medical Liability [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance, before tax | -3,683 | |
Other comprehensive income (loss), before reclassifications, before tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | -27 | |
Other comprehensive income (loss) before tax | -27 | |
Ending Balance, before tax | -3,710 | |
Pension and Retiree Medical Liability [Member] | American Airlines, Inc. [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance, before tax | -3,660 | |
Other comprehensive income (loss), before reclassifications, before tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | -26 | |
Other comprehensive income (loss) before tax | -26 | |
Ending Balance, before tax | -3,686 | |
Unrealized Gain/(Loss) on Investments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance, before tax | -5 | |
Other comprehensive income (loss), before reclassifications, before tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | 2 | |
Other comprehensive income (loss) before tax | 2 | |
Ending Balance, before tax | -3 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 2 | 2 |
Unrealized Gain/(Loss) on Investments [Member] | American Airlines, Inc. [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance, before tax | -3 | |
Other comprehensive income (loss), before reclassifications, before tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | 1 | |
Other comprehensive income (loss) before tax | 1 | |
Ending Balance, before tax | -2 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 1 | 2 |
Derivative Financial Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance, before tax | 9 | |
Other comprehensive income (loss), before reclassifications, before tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | -6 | |
Other comprehensive income (loss) before tax | -6 | |
Ending Balance, before tax | 3 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | -6 | 7 |
Derivative Financial Instruments [Member] | American Airlines, Inc. [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance, before tax | 9 | |
Other comprehensive income (loss), before reclassifications, before tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), before tax | -6 | |
Other comprehensive income (loss) before tax | -6 | |
Ending Balance, before tax | 3 | |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | -6 | 7 |
Income Tax Benefit (Expense) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance, tax | -880 | |
Other comprehensive income (loss), before reclassifications, tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), tax | 0 | |
Net current-period other comprehensive income (loss), tax | 0 | |
Balance, tax | -880 | |
Income Tax Benefit (Expense) [Member] | American Airlines, Inc. [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance, tax | -991 | |
Other comprehensive income (loss), before reclassifications, tax | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss), tax | 0 | |
Net current-period other comprehensive income (loss), tax | 0 | |
Balance, tax | ($991) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) - Reclassification out of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | ($31) | ($36) |
American Airlines, Inc. [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | -31 | -35 |
Pension and Retiree Medical Liability [Member] | Prior Service Cost [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | -53 | -54 |
Pension and Retiree Medical Liability [Member] | Prior Service Cost [Member] | American Airlines, Inc. [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | -52 | -53 |
Pension and Retiree Medical Liability [Member] | Actuarial Loss [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 26 | 9 |
Pension and Retiree Medical Liability [Member] | Actuarial Loss [Member] | American Airlines, Inc. [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 26 | 9 |
Derivative Financial Instruments [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | -6 | 7 |
Derivative Financial Instruments [Member] | American Airlines, Inc. [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | -6 | 7 |
Unrealized Gain/(Loss) on Investments [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | 2 |
Unrealized Gain/(Loss) on Investments [Member] | American Airlines, Inc. [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | $1 | $2 |
Regional_Expenses_Components_o
Regional Expenses - Components of Regional Expenses (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Regional Expenses [Line Items] | ||
Aircraft fuel and related taxes | $1,544 | $2,711 |
Salaries, wages and benefits | 2,373 | 2,119 |
Maintenance, materials and repairs | 494 | 485 |
Other rent and landing fees | 408 | 424 |
Aircraft rent | 317 | 320 |
Selling expenses | 336 | 401 |
Depreciation and amortization | 336 | 307 |
Special items, net | 303 | -137 |
Other | 1,038 | 1,041 |
Total regional expenses | 1,462 | 1,594 |
American Airlines, Inc. [Member] | ||
Regional Expenses [Line Items] | ||
Aircraft fuel and related taxes | 1,070 | 1,871 |
Salaries, wages and benefits | 1,585 | 1,398 |
Maintenance, materials and repairs | 304 | 332 |
Other rent and landing fees | 270 | 285 |
Aircraft rent | 225 | 216 |
Selling expenses | 235 | 284 |
Depreciation and amortization | 236 | 214 |
Special items, net | 198 | -216 |
Other | 758 | 749 |
Total regional expenses | 728 | 758 |
Regional Expenses [Member] | ||
Regional Expenses [Line Items] | ||
Aircraft fuel and related taxes | 311 | 500 |
Salaries, wages and benefits | 292 | 265 |
Capacity purchases from third-party regional carriers | 379 | 347 |
Maintenance, materials and repairs | 75 | 87 |
Other rent and landing fees | 106 | 96 |
Aircraft rent | 9 | 14 |
Selling expenses | 77 | 72 |
Depreciation and amortization | 58 | 53 |
Special items, net | 7 | 4 |
Other | 148 | 156 |
Total regional expenses | 1,462 | 1,594 |
Regional Expenses [Member] | American Airlines, Inc. [Member] | ||
Regional Expenses [Line Items] | ||
Aircraft fuel and related taxes | 160 | 252 |
Salaries, wages and benefits | 31 | 5 |
Capacity purchases from third-party regional carriers | 293 | 302 |
Other rent and landing fees | 63 | 55 |
Selling expenses | 37 | 36 |
Depreciation and amortization | 42 | 37 |
Special items, net | 2 | 1 |
Other | 100 | 70 |
Total regional expenses | $728 | $758 |
Legal_Proceedings_Additional_I
Legal Proceedings - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | |||
In Millions, unless otherwise specified | Feb. 10, 2015 | Mar. 31, 2015 | Apr. 01, 2014 | Dec. 09, 2013 | Dec. 31, 2014 | Sep. 30, 2011 |
Claim | Claim | |||||
Loss Contingencies [Line Items] | ||||||
Disputed claims reserve | $755 | |||||
Shares released from restriction and issued | 0.8 | |||||
Common Stock [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Shares reserved for future issuance | 26 | 30.4 | 26.8 | |||
Shares released from restriction and issued | 0.8 | |||||
Stock repurchased | 0.1 | 3.8 | ||||
Aggregate stock repurchase price | 4 | 190 | ||||
American Airlines, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Disputed claims reserve | 755 | |||||
Shares released from restriction and issued | 0.8 | |||||
American Airlines, Inc. [Member] | Common Stock [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Shares reserved for future issuance | 26 | 30.4 | 26.8 | |||
Shares released from restriction and issued | 0.8 | |||||
Stock repurchased | 0.1 | |||||
Aggregate stock repurchase price | 4 | |||||
Non-Pension, Post-Employee Benefits (OPEB) Matter [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Potential loss | 212 | |||||
Non-Pension, Post-Employee Benefits (OPEB) Matter [Member] | American Airlines, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Potential loss | $212 | |||||
US Airways Sabre Matter [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
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 - Additional Information (Detail) | Mar. 31, 2014 | Mar. 31, 2015 |
Condensed Financial Statements, Captions [Line Items] | ||
Debt instrument, stated interest rate percentage | 7.25% | |
Unsecured Debt [Member] | Senior Notes, 6.125, Due in 2018 [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Debt instrument, stated interest rate percentage | 6.13% |
Financial_Information_for_Subs3
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Statement of Operations (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating revenues: | ||
Mainline passenger | $6,989 | $7,258 |
Regional passenger | 1,452 | 1,407 |
Cargo | 194 | 206 |
Other | 1,192 | 1,124 |
Total operating revenues | 9,827 | 9,995 |
Operating expenses: | ||
Aircraft fuel and related taxes | 1,544 | 2,711 |
Salaries, wages and benefits | 2,373 | 2,119 |
Regional expenses | 1,462 | 1,594 |
Maintenance, materials and repairs | 494 | 485 |
Other rent and landing fees | 408 | 424 |
Aircraft rent | 317 | 320 |
Selling expenses | 336 | 401 |
Depreciation and amortization | 336 | 307 |
Special items, net | 303 | -137 |
Other | 1,038 | 1,041 |
Total operating expenses | 8,611 | 9,265 |
Operating income (loss) | 1,216 | 730 |
Nonoperating income (expense): | ||
Interest income | 10 | 7 |
Interest expense, net | -210 | -243 |
Other, net | -73 | -1 |
Total nonoperating expense, net | -273 | -237 |
Income (loss) before income taxes | 943 | 493 |
Income tax provision | 11 | 13 |
Net income (loss) | 932 | 480 |
Eliminations and Reclassifications [Member] | ||
Operating revenues: | ||
Other | -741 | -764 |
Total operating revenues | -741 | -764 |
Operating expenses: | ||
Salaries, wages and benefits | -191 | -195 |
Regional expenses | -31 | 8 |
Maintenance, materials and repairs | -75 | -85 |
Other rent and landing fees | -10 | -7 |
Aircraft rent | -32 | -21 |
Depreciation and amortization | -11 | -12 |
Special items, net | -4 | -3 |
Other | -387 | -449 |
Total operating expenses | -741 | -764 |
Nonoperating income (expense): | ||
Interest income | -2 | -4 |
Interest expense, net | 2 | 4 |
Equity in earnings of subsidiaries | -1,195 | -571 |
Other, net | 56 | |
Total nonoperating expense, net | -1,195 | -515 |
Income (loss) before income taxes | -1,195 | -515 |
Income tax provision | -131 | |
Net income (loss) | -1,064 | -515 |
American Airlines Group (Parent Company Only) [Member] | ||
Operating expenses: | ||
Special items, net | 24 | |
Other | 1 | 2 |
Total operating expenses | 1 | 26 |
Operating income (loss) | -1 | -26 |
Nonoperating income (expense): | ||
Interest income | 2 | 2 |
Interest expense, net | -13 | -4 |
Equity in earnings of subsidiaries | 944 | 453 |
Total nonoperating expense, net | 933 | 451 |
Income (loss) before income taxes | 932 | 425 |
Income tax provision | 1 | |
Net income (loss) | 932 | 424 |
American Airlines, Inc. [Member] | ||
Operating revenues: | ||
Mainline passenger | 4,690 | 4,906 |
Regional passenger | 699 | 669 |
Cargo | 162 | 168 |
Other | 818 | 726 |
Total operating revenues | 6,369 | 6,469 |
Operating expenses: | ||
Aircraft fuel and related taxes | 1,070 | 1,871 |
Salaries, wages and benefits | 1,585 | 1,398 |
Regional expenses | 728 | 758 |
Maintenance, materials and repairs | 304 | 332 |
Other rent and landing fees | 270 | 285 |
Aircraft rent | 225 | 216 |
Selling expenses | 235 | 284 |
Depreciation and amortization | 236 | 214 |
Special items, net | 198 | -216 |
Other | 758 | 749 |
Total operating expenses | 5,609 | 5,891 |
Operating income (loss) | 760 | 578 |
Nonoperating income (expense): | ||
Interest income | 6 | 7 |
Interest expense, net | -126 | -168 |
Other, net | -63 | -5 |
Total nonoperating expense, net | -183 | -166 |
Income (loss) before income taxes | 577 | 412 |
Income tax provision | 8 | 11 |
Net income (loss) | 569 | 401 |
US Airways Group [Member] | ||
Nonoperating income (expense): | ||
Interest expense, net | -9 | -10 |
Equity in earnings of subsidiaries | 251 | 118 |
Other, net | -56 | |
Total nonoperating expense, net | 242 | 52 |
Income (loss) before income taxes | 242 | 52 |
Net income (loss) | 242 | 52 |
US Airways [Member] | ||
Operating revenues: | ||
Mainline passenger | 2,299 | 2,352 |
Regional passenger | 753 | 738 |
Cargo | 32 | 38 |
Other | 389 | 418 |
Total operating revenues | 3,473 | 3,546 |
Operating expenses: | ||
Aircraft fuel and related taxes | 474 | 840 |
Salaries, wages and benefits | 786 | 719 |
Regional expenses | 765 | 828 |
Maintenance, materials and repairs | 190 | 153 |
Other rent and landing fees | 138 | 139 |
Aircraft rent | 92 | 104 |
Selling expenses | 101 | 117 |
Depreciation and amortization | 100 | 95 |
Special items, net | 105 | 55 |
Other | 281 | 308 |
Total operating expenses | 3,032 | 3,358 |
Operating income (loss) | 441 | 188 |
Nonoperating income (expense): | ||
Interest income | 4 | 1 |
Interest expense, net | -64 | -65 |
Other, net | -11 | 3 |
Total nonoperating expense, net | -71 | -61 |
Income (loss) before income taxes | 370 | 127 |
Income tax provision | 131 | 1 |
Net income (loss) | 239 | 126 |
Non-Guarantor Subsidiaries [Member] | ||
Operating revenues: | ||
Other | 726 | 744 |
Total operating revenues | 726 | 744 |
Operating expenses: | ||
Salaries, wages and benefits | 193 | 197 |
Maintenance, materials and repairs | 75 | 85 |
Other rent and landing fees | 10 | 7 |
Aircraft rent | 32 | 21 |
Depreciation and amortization | 11 | 10 |
Special items, net | 4 | 3 |
Other | 385 | 431 |
Total operating expenses | 710 | 754 |
Operating income (loss) | 16 | -10 |
Nonoperating income (expense): | ||
Interest income | 1 | |
Other, net | 1 | 1 |
Total nonoperating expense, net | 1 | 2 |
Income (loss) before income taxes | 17 | -8 |
Income tax provision | 3 | |
Net income (loss) | $14 | ($8) |
Financial_Information_for_Subs4
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Statement of Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | $932 | $480 |
Other comprehensive income (loss) before tax: | ||
Defined benefit pension plans and retiree medical | -27 | -45 |
Derivative financial instruments: | ||
Change in fair value | 0 | -67 |
Reclassification into earnings | -6 | 7 |
Unrealized gain on investments: | ||
Net change in value | 2 | 2 |
Other comprehensive loss before tax | -31 | -103 |
Non-cash tax provision | 0 | 0 |
Comprehensive income | 901 | 377 |
Eliminations and Reclassifications [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | -1,064 | -515 |
Unrealized gain on investments: | ||
Non-cash tax provision | 0 | 0 |
Comprehensive income | -1,064 | -515 |
American Airlines Group (Parent Company Only) [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 932 | 424 |
Unrealized gain on investments: | ||
Non-cash tax provision | 0 | 0 |
Comprehensive income | 932 | 424 |
American Airlines, Inc. [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 569 | 401 |
Other comprehensive income (loss) before tax: | ||
Defined benefit pension plans and retiree medical | -26 | -44 |
Derivative financial instruments: | ||
Change in fair value | 0 | -67 |
Reclassification into earnings | -6 | 7 |
Unrealized gain on investments: | ||
Net change in value | 1 | 2 |
Other comprehensive loss before tax | -31 | -102 |
Non-cash tax provision | 0 | 0 |
Comprehensive income | 538 | 299 |
US Airways Group [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 242 | 52 |
Unrealized gain on investments: | ||
Non-cash tax provision | 0 | 0 |
Comprehensive income | 242 | 52 |
US Airways [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 239 | 126 |
Other comprehensive income (loss) before tax: | ||
Defined benefit pension plans and retiree medical | -1 | -1 |
Unrealized gain on investments: | ||
Net change in value | 1 | |
Other comprehensive loss before tax | 0 | -1 |
Non-cash tax provision | 0 | 0 |
Comprehensive income | 239 | 125 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Net income (loss) | 14 | -8 |
Unrealized gain on investments: | ||
Non-cash tax provision | 0 | 0 |
Comprehensive income | $14 | ($8) |
Financial_Information_for_Subs5
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||||
Current assets | ||||
Cash | $1,048 | $994 | $1,259 | $1,140 |
Short-term investments | 8,125 | 6,309 | ||
Restricted cash and short-term investments | 757 | 774 | ||
Accounts receivable, net | 1,826 | 1,771 | ||
Aircraft fuel, spare parts and supplies, net | 995 | 1,004 | ||
Prepaid expenses and other | 1,378 | 1,260 | ||
Total current assets | 14,129 | 12,112 | ||
Operating property and equipment | 24,042 | 23,084 | ||
Other assets | ||||
Goodwill | 4,091 | 4,091 | ||
Intangibles, net of accumulated amortization | 2,281 | 2,240 | ||
Other assets | 2,211 | 2,244 | ||
Total other assets | 8,583 | 8,575 | ||
Total assets | 46,754 | 43,771 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 1,284 | 1,708 | ||
Accounts payable | 1,587 | 1,377 | ||
Air traffic liability | 5,415 | 4,252 | ||
Frequent flyer liability | 2,776 | 2,807 | ||
Other accrued liabilities | 3,171 | 3,291 | ||
Total current liabilities | 14,233 | 13,435 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 17,638 | 16,196 | ||
Pension and postretirement benefits | 7,517 | 7,562 | ||
Bankruptcy settlement obligations | 275 | 325 | ||
Other liabilities | 4,327 | 4,232 | ||
Total noncurrent liabilities | 29,757 | 28,315 | ||
Stockholders' equity (deficit) | ||||
Common stock | 7 | 7 | ||
Additional paid-in capital | 15,049 | 15,135 | ||
Accumulated other comprehensive loss | -4,590 | -4,559 | ||
Retained earnings (deficit) | -7,702 | -8,562 | ||
Total stockholders' equity (deficit) | 2,764 | 2,021 | ||
Total liabilities and stockholders' equity (deficit) | 46,754 | 43,771 | ||
Eliminations and Reclassifications [Member] | ||||
Current assets | ||||
Accounts receivable, net | -13 | -13 | ||
Receivables from related parties, net | -2,651 | -3,509 | ||
Prepaid expenses and other | -155 | |||
Total current assets | -2,664 | -3,677 | ||
Other assets | ||||
Investments in subsidiaries | -8,781 | -7,717 | ||
Goodwill | 2 | 1 | ||
Other assets | -35 | -35 | ||
Total other assets | -8,814 | -7,751 | ||
Total assets | -11,478 | -11,428 | ||
Current liabilities | ||||
Accounts payable | -2 | |||
Payables to related parties, net | -2,651 | -3,509 | ||
Other accrued liabilities | -2 | -3 | ||
Total current liabilities | -2,655 | -3,512 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | -34 | -35 | ||
Other liabilities | -307 | -562 | ||
Total noncurrent liabilities | -341 | -597 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | -21,206 | -21,076 | ||
Accumulated other comprehensive loss | 4,712 | 4,681 | ||
Retained earnings (deficit) | 8,012 | 9,076 | ||
Total stockholders' equity (deficit) | -8,482 | -7,319 | ||
Total liabilities and stockholders' equity (deficit) | -11,478 | -11,428 | ||
American Airlines Group (Parent Company Only) [Member] | ||||
Current assets | ||||
Cash | 1 | 1 | 1 | 1 |
Receivables from related parties, net | 2,409 | 1,893 | ||
Prepaid expenses and other | 79 | |||
Total current assets | 2,489 | 1,894 | ||
Other assets | ||||
Investments in subsidiaries | 1,636 | 847 | ||
Other assets | 58 | 53 | ||
Total other assets | 1,694 | 900 | ||
Total assets | 4,183 | 2,794 | ||
Current liabilities | ||||
Other accrued liabilities | 39 | 14 | ||
Total current liabilities | 39 | 14 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 1,257 | 758 | ||
Other liabilities | 123 | 1 | ||
Total noncurrent liabilities | 1,380 | 759 | ||
Stockholders' equity (deficit) | ||||
Common stock | 7 | 7 | ||
Additional paid-in capital | 15,049 | 15,135 | ||
Accumulated other comprehensive loss | -4,590 | -4,559 | ||
Retained earnings (deficit) | -7,702 | -8,562 | ||
Total stockholders' equity (deficit) | 2,764 | 2,021 | ||
Total liabilities and stockholders' equity (deficit) | 4,183 | 2,794 | ||
American Airlines, Inc. [Member] | ||||
Current assets | ||||
Cash | 884 | 785 | 983 | 829 |
Short-term investments | 4,853 | 3,290 | ||
Restricted cash and short-term investments | 646 | 650 | ||
Accounts receivable, net | 1,437 | 1,445 | ||
Aircraft fuel, spare parts and supplies, net | 623 | 625 | ||
Prepaid expenses and other | 635 | 462 | ||
Total current assets | 9,078 | 7,257 | ||
Operating property and equipment | 17,130 | 16,299 | ||
Other assets | ||||
Intangibles, net of accumulated amortization | 872 | 815 | ||
Other assets | 1,885 | 1,921 | ||
Total other assets | 2,757 | 2,736 | ||
Total assets | 28,965 | 26,292 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 802 | 1,230 | ||
Accounts payable | 1,175 | 1,029 | ||
Payables to related parties, net | 2,168 | 2,563 | ||
Air traffic liability | 3,691 | 2,989 | ||
Frequent flyer liability | 2,776 | 1,823 | ||
Other accrued liabilities | 1,835 | 1,886 | ||
Total current liabilities | 12,447 | 11,520 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 10,972 | 10,004 | ||
Pension and postretirement benefits | 7,355 | 7,400 | ||
Bankruptcy settlement obligations | 275 | 325 | ||
Other liabilities | 2,868 | 2,615 | ||
Total noncurrent liabilities | 21,470 | 20,344 | ||
Stockholders' equity (deficit) | ||||
Common stock | 0 | 0 | ||
Additional paid-in capital | 10,714 | 10,632 | ||
Accumulated other comprehensive loss | -4,676 | -4,645 | ||
Retained earnings (deficit) | -10,990 | -11,559 | ||
Total stockholders' equity (deficit) | -4,952 | -5,572 | ||
Total liabilities and stockholders' equity (deficit) | 28,965 | 26,292 | ||
US Airways Group [Member] | ||||
Current assets | ||||
Cash | 5 | 2 | 1 | 1 |
Receivables from related parties, net | 157 | |||
Total current assets | 5 | 159 | ||
Other assets | ||||
Investments in subsidiaries | 7,145 | 6,870 | ||
Total other assets | 7,145 | 6,870 | ||
Total assets | 7,150 | 7,029 | ||
Current liabilities | ||||
Payables to related parties, net | 480 | 634 | ||
Other accrued liabilities | 11 | 3 | ||
Total current liabilities | 491 | 637 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 524 | 524 | ||
Total noncurrent liabilities | 524 | 524 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | 4,727 | 4,703 | ||
Accumulated other comprehensive loss | -16 | -16 | ||
Retained earnings (deficit) | 1,424 | 1,181 | ||
Total stockholders' equity (deficit) | 6,135 | 5,868 | ||
Total liabilities and stockholders' equity (deficit) | 7,150 | 7,029 | ||
US Airways [Member] | ||||
Current assets | ||||
Cash | 153 | 199 | 269 | 303 |
Short-term investments | 3,270 | 3,016 | ||
Restricted cash and short-term investments | 111 | 124 | ||
Accounts receivable, net | 383 | 324 | ||
Receivables from related parties, net | 242 | 933 | ||
Aircraft fuel, spare parts and supplies, net | 298 | 294 | ||
Prepaid expenses and other | 623 | 912 | ||
Total current assets | 5,080 | 5,802 | ||
Operating property and equipment | 6,627 | 6,506 | ||
Other assets | ||||
Goodwill | 4,089 | 4,090 | ||
Intangibles, net of accumulated amortization | 1,409 | 1,425 | ||
Other assets | 256 | 267 | ||
Total other assets | 5,754 | 5,782 | ||
Total assets | 17,461 | 18,090 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 482 | 477 | ||
Accounts payable | 362 | 287 | ||
Payables to related parties, net | 73 | |||
Air traffic liability | 1,724 | 1,263 | ||
Frequent flyer liability | 984 | |||
Other accrued liabilities | 1,164 | 1,253 | ||
Total current liabilities | 3,732 | 4,337 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 4,919 | 4,945 | ||
Pension and postretirement benefits | 122 | 122 | ||
Other liabilities | 1,599 | 1,861 | ||
Total noncurrent liabilities | 6,640 | 6,928 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | 5,566 | 5,542 | ||
Accumulated other comprehensive loss | -8 | -8 | ||
Retained earnings (deficit) | 1,531 | 1,291 | ||
Total stockholders' equity (deficit) | 7,089 | 6,825 | ||
Total liabilities and stockholders' equity (deficit) | 17,461 | 18,090 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Current assets | ||||
Cash | 5 | 7 | 5 | 6 |
Short-term investments | 2 | 3 | ||
Accounts receivable, net | 19 | 15 | ||
Receivables from related parties, net | 526 | |||
Aircraft fuel, spare parts and supplies, net | 74 | 85 | ||
Prepaid expenses and other | 41 | 41 | ||
Total current assets | 141 | 677 | ||
Operating property and equipment | 285 | 279 | ||
Other assets | ||||
Other assets | 47 | 38 | ||
Total other assets | 47 | 38 | ||
Total assets | 473 | 994 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 1 | |||
Accounts payable | 52 | 61 | ||
Payables to related parties, net | 3 | 239 | ||
Other accrued liabilities | 124 | 138 | ||
Total current liabilities | 179 | 439 | ||
Noncurrent liabilities | ||||
Pension and postretirement benefits | 40 | 40 | ||
Other liabilities | 44 | 317 | ||
Total noncurrent liabilities | 84 | 357 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | 199 | 199 | ||
Accumulated other comprehensive loss | -12 | -12 | ||
Retained earnings (deficit) | 23 | 11 | ||
Total stockholders' equity (deficit) | 210 | 198 | ||
Total liabilities and stockholders' equity (deficit) | $473 | $994 |
Financial_Information_for_Subs6
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | $2,494 | $1,256 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | -1,409 | -1,047 |
Purchases of short-term investments | -3,474 | -1,176 |
Sales of short-term investments | 1,660 | 882 |
Decrease in restricted cash and short-term investments | 17 | 88 |
Net proceeds from slot transaction | 307 | |
Proceeds from sale of property and equipment | 4 | 3 |
Net cash used in investing activities | -3,202 | -943 |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | -746 | -501 |
Proceeds from issuance of long-term debt | 1,766 | 224 |
Deferred financing costs | -25 | -7 |
Sale-leaseback transactions | 165 | |
Exercise of stock options | 9 | |
Treasury stock repurchases | -181 | -84 |
Dividend payment | -70 | |
Other financing activities | 18 | |
Net cash provided by (used in) financing activities | 762 | -194 |
Net increase (decrease) in cash | 54 | 119 |
Cash at beginning of period | 994 | 1,140 |
Cash at end of period | 1,048 | 1,259 |
American Airlines Group (Parent Company Only) [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | -242 | -9 |
Cash flows from financing activities: | ||
Proceeds from issuance of long-term debt | 500 | |
Deferred financing costs | -7 | |
Exercise of stock options | 9 | |
Treasury stock repurchases | -181 | -84 |
Funds transferred from (to) affiliates, net | 84 | |
Dividend payment | -70 | |
Net cash provided by (used in) financing activities | 242 | 9 |
Cash at beginning of period | 1 | 1 |
Cash at end of period | 1 | 1 |
American Airlines, Inc. [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 2,285 | 742 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | -1,160 | -722 |
Purchases of short-term investments | -1,945 | -499 |
Sales of short-term investments | 382 | 682 |
Decrease in restricted cash and short-term investments | 4 | 3 |
Net proceeds from slot transaction | 299 | |
Proceeds from sale of property and equipment | 4 | 3 |
Net cash used in investing activities | -2,715 | -234 |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | -680 | -430 |
Proceeds from issuance of long-term debt | 1,227 | |
Deferred financing costs | -18 | -5 |
Sale-leaseback transactions | 165 | |
Funds transferred from (to) affiliates, net | -84 | |
Net cash provided by (used in) financing activities | 529 | -354 |
Net increase (decrease) in cash | 99 | 154 |
Cash at beginning of period | 785 | 829 |
Cash at end of period | 884 | 983 |
US Airways Group [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 3 | |
Cash flows from financing activities: | ||
Net increase (decrease) in cash | 3 | |
Cash at beginning of period | 2 | 1 |
Cash at end of period | 5 | 1 |
US Airways [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 430 | 515 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | -229 | -316 |
Purchases of short-term investments | -1,529 | -677 |
Sales of short-term investments | 1,278 | 200 |
Decrease in restricted cash and short-term investments | 13 | 85 |
Net proceeds from slot transaction | 8 | |
Net cash used in investing activities | -467 | -700 |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | -66 | -71 |
Proceeds from issuance of long-term debt | 39 | 224 |
Deferred financing costs | -2 | |
Other financing activities | 18 | |
Net cash provided by (used in) financing activities | -9 | 151 |
Net increase (decrease) in cash | -46 | -34 |
Cash at beginning of period | 199 | 303 |
Cash at end of period | 153 | 269 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 18 | 8 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | -20 | -9 |
Net cash used in investing activities | -20 | -9 |
Cash flows from financing activities: | ||
Net increase (decrease) in cash | -2 | -1 |
Cash at beginning of period | 7 | 6 |
Cash at end of period | $5 | $5 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Apr. 20, 2015 | Dec. 31, 2014 | Apr. 30, 2015 |
Secured Debt Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 17,221 | $16,713 | ||
Installment 2 FY 2015 [Member] | ||||
Subsequent Event [Line Items] | ||||
Dividends payable, record date | 4-May-15 | |||
Dividends payable, declaration date | 24-Apr-15 | |||
Dividends payable, payable date | 18-May-15 | |||
Dividend Declared [Member] | Subsequent Event [Member] | Common Stock [Member] | ||||
Subsequent Event [Line Items] | ||||
Dividends payable, per share | $0.10 | |||
2014 Credit Facilities [Member] | Secured Debt Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 750 | 750 | ||
2014 Credit Facilities [Member] | Secured Debt Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 400 | |||
2014 Credit Facilities [Member] | Secured Debt Member] | LIBOR [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Basis spread on variable rate | 3.50% | |||
2014 Credit Facilities [Member] | New 2015 Term Loan Facility [Member] | Secured Debt Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 750 | |||
2014 Credit Facilities [Member] | New 2015 Term Loan Facility [Member] | Secured Debt Member] | LIBOR [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Basis spread on variable rate | 3.00% | |||
American Airlines, Inc. [Member] | Secured Debt Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 11,778 | 11,249 | ||
American Airlines, Inc. [Member] | 2014 Credit Facilities [Member] | Secured Debt Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 750 | 750 | ||
American Airlines, Inc. [Member] | 2014 Credit Facilities [Member] | Secured Debt Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 400 | |||
American Airlines, Inc. [Member] | 2014 Credit Facilities [Member] | Secured Debt Member] | LIBOR [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Basis spread on variable rate | 3.50% | |||
American Airlines, Inc. [Member] | 2014 Credit Facilities [Member] | New 2015 Term Loan Facility [Member] | Secured Debt Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Refinancing of Credit Facilities | 750 | |||
American Airlines, Inc. [Member] | 2014 Credit Facilities [Member] | New 2015 Term Loan Facility [Member] | Secured Debt Member] | LIBOR [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Basis spread on variable rate | 3.00% |
Transactions_with_Related_Part2
Transactions with Related Parties - Summary of Net Payables to (Receivables from) Related Parties (Detail) (American Airlines, Inc. [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | $2,168 | $2,563 |
American Airlines Group (Parent Company Only) [Member] | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | 284 | 40 |
US Airways Group [Member] | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | -281 | 320 |
Envoy Aviation Group (1) and other subsidiaries [Member] | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | $2,165 | $2,203 |
Transactions_with_Related_Part3
Transactions with Related Parties - Additional Information (Detail) (American Airlines, Inc. [Member], USD $) | 3 Months Ended |
Mar. 31, 2015 | |
American Airlines, Inc. [Member] | |
Related Party Transaction [Line Items] | |
Gain or loss from frequent flyer program | $0 |
Net allocated expenses | $172,000,000 |