Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 16, 2015 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | AAL | |
Entity Registrant Name | American Airlines Group Inc. | |
Entity Central Index Key | 6,201 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 630,325,539 | |
American Airlines, Inc. [Member] | ||
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | AMERICAN AIRLINES INC | |
Entity Central Index Key | 4,515 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Operating revenues: | |||||||
Mainline passenger | $ 7,654 | $ 8,093 | $ 22,298 | $ 23,564 | |||
Regional passenger | 1,699 | 1,665 | 4,910 | 4,779 | |||
Cargo | 180 | 215 | 568 | 643 | |||
Other | 1,173 | 1,166 | 3,584 | 3,504 | |||
Total operating revenues | 10,706 | 11,139 | 31,360 | 32,490 | |||
Operating expenses: | |||||||
Aircraft fuel and related taxes | 1,593 | 2,829 | 4,912 | 8,370 | |||
Salaries, wages and benefits | 2,404 | 2,137 | 7,141 | 6,419 | |||
Regional expenses | 1,518 | 1,668 | 4,536 | 4,919 | |||
Maintenance, materials and repairs | 456 | 529 | 1,452 | 1,528 | |||
Other rent and landing fees | 432 | 431 | 1,290 | 1,297 | |||
Aircraft rent | 308 | 306 | 941 | 937 | |||
Selling expenses | 366 | 393 | 1,051 | 1,196 | |||
Depreciation and amortization | 336 | 334 | 1,013 | 960 | |||
Special items, net | 163 | 221 | 610 | 335 | |||
Other | 1,131 | 1,031 | 3,278 | 3,140 | |||
Total operating expenses | 8,707 | 9,879 | 26,224 | 29,101 | |||
Operating income | 1,999 | 1,260 | 5,136 | 3,389 | |||
Nonoperating income (expense): | |||||||
Interest income | 10 | 7 | 29 | 22 | |||
Interest expense, net of capitalized interest | (219) | (210) | (651) | (667) | |||
Other, net | (81) | (108) | (143) | (99) | |||
Total nonoperating expense, net | (290) | (311) | (765) | (744) | |||
Income before income taxes | 1,709 | 949 | 4,371 | 2,645 | |||
Income tax provision | 16 | 7 | 42 | 360 | |||
Net income | $ 1,693 | $ 942 | $ 4,329 | $ 2,285 | |||
Earnings per share: | |||||||
Basic | $ 2.56 | $ 1.31 | $ 6.34 | $ 3.17 | |||
Diluted | $ 2.49 | $ 1.28 | $ 6.17 | $ 3.10 | |||
Weighted average shares outstanding (in thousands): | |||||||
Basic | 661,869 | 719,067 | 682,337 | 721,213 | |||
Diluted | 680,739 | 735,196 | 701,760 | 737,100 | |||
Cash dividends declared per common share | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.30 | $ 0.10 |
American Airlines, Inc. [Member] | |||||||
Operating revenues: | |||||||
Mainline passenger | $ 4,927 | $ 5,321 | $ 14,565 | $ 15,579 | |||
Regional passenger | 858 | 748 | 2,399 | 2,202 | |||
Cargo | 150 | 175 | 472 | 521 | |||
Other | 847 | 811 | 2,533 | 2,374 | |||
Total operating revenues | 6,782 | 7,055 | 19,969 | 20,676 | |||
Operating expenses: | |||||||
Aircraft fuel and related taxes | 1,065 | 1,894 | 3,332 | 5,662 | |||
Salaries, wages and benefits | 1,563 | 1,412 | 4,684 | 4,251 | |||
Regional expenses | 803 | 790 | 2,318 | 2,352 | |||
Maintenance, materials and repairs | 261 | 353 | 868 | 1,031 | |||
Other rent and landing fees | 286 | 279 | 825 | 853 | |||
Aircraft rent | 225 | 211 | 676 | 641 | |||
Selling expenses | 256 | 278 | 688 | 844 | |||
Depreciation and amortization | 245 | 230 | 728 | 664 | |||
Special items, net | 77 | 164 | 350 | 127 | |||
Other | 790 | 746 | 2,323 | 2,258 | |||
Total operating expenses | 5,571 | 6,357 | 16,792 | 18,683 | |||
Operating income | 1,211 | 698 | 3,177 | 1,993 | |||
Nonoperating income (expense): | |||||||
Interest income | 10 | 5 | 26 | 18 | |||
Interest expense, net of capitalized interest | (133) | (136) | (396) | (443) | |||
Other, net | (83) | (97) | (162) | (85) | |||
Total nonoperating expense, net | (206) | (228) | (532) | (510) | |||
Income before income taxes | 1,005 | 470 | 2,645 | 1,483 | |||
Income tax provision | 9 | 5 | 28 | 351 | |||
Net income | $ 996 | $ 465 | $ 2,617 | $ 1,132 |
Condensed Consolidated Stateme3
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 1,693 | $ 942 | $ 4,329 | $ 2,285 |
Other comprehensive income (loss): | ||||
Defined benefit pension plans and retiree medical | (26) | (38) | (79) | (142) |
Derivative financial instruments: | ||||
Change in fair value | (54) | |||
Reclassification into earnings | (7) | (9) | 5 | |
Unrealized loss on investments: | ||||
Net change in value | (4) | (2) | (4) | |
Reversal of non-cash tax provision | 330 | |||
Total other comprehensive income (loss) | (30) | (47) | (92) | 139 |
Total comprehensive income | 1,663 | 895 | 4,237 | 2,424 |
American Airlines, Inc. [Member] | ||||
Net income | 996 | 465 | 2,617 | 1,132 |
Other comprehensive income (loss): | ||||
Defined benefit pension plans and retiree medical | (26) | (37) | (76) | (139) |
Derivative financial instruments: | ||||
Change in fair value | (52) | |||
Reclassification into earnings | (7) | (9) | 5 | |
Unrealized loss on investments: | ||||
Net change in value | (3) | (2) | (4) | (2) |
Reversal of non-cash tax provision | 328 | |||
Total other comprehensive income (loss) | (29) | (46) | (89) | 140 |
Total comprehensive income | $ 967 | $ 419 | $ 2,528 | $ 1,272 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash | $ 1,016 | $ 994 |
Short-term investments | 7,857 | 6,309 |
Restricted cash and short-term investments | 710 | 774 |
Accounts receivable, net | 1,828 | 1,771 |
Aircraft fuel, spare parts and supplies, net | 1,010 | 1,004 |
Prepaid expenses and other | 1,285 | 1,260 |
Total current assets | 13,706 | 12,112 |
Operating property and equipment | ||
Flight equipment | 31,872 | 28,213 |
Ground property and equipment | 6,262 | 5,900 |
Equipment purchase deposits | 1,073 | 1,230 |
Total property and equipment, at cost | 39,207 | 35,343 |
Less accumulated depreciation and amortization | (12,915) | (12,259) |
Total property and equipment, net | 26,292 | 23,084 |
Other assets | ||
Goodwill | 4,091 | 4,091 |
Intangibles, net of accumulated amortization | 2,261 | 2,240 |
Other assets | 2,365 | 2,244 |
Total other assets | 8,717 | 8,575 |
Total assets | 48,715 | 43,771 |
Current liabilities | ||
Current maturities of long-term debt and capital leases | 1,712 | 1,708 |
Accounts payable | 1,525 | 1,377 |
Accrued salaries and wages | 1,162 | 1,194 |
Air traffic liability | 4,811 | 4,252 |
Frequent flyer liability | 2,649 | 2,807 |
Other accrued liabilities | 2,302 | 2,097 |
Total current liabilities | 14,161 | 13,435 |
Noncurrent liabilities | ||
Long-term debt and capital leases, net of current maturities | 18,849 | 16,196 |
Pension and postretirement benefits | 7,433 | 7,562 |
Deferred gains and credits, net | 709 | 829 |
Bankruptcy settlement obligations | 177 | 325 |
Other liabilities | 3,624 | 3,403 |
Total noncurrent liabilities | $ 30,792 | $ 28,315 |
Commitments and contingencies | ||
Stockholders' equity (deficit) | ||
Common stock | $ 6 | $ 7 |
Additional paid-in capital | 12,852 | 15,135 |
Accumulated other comprehensive loss | (4,651) | (4,559) |
Accumulated deficit | (4,445) | (8,562) |
Total stockholders' equity (deficit) | 3,762 | 2,021 |
Total liabilities and stockholders' equity (deficit) | 48,715 | 43,771 |
American Airlines, Inc. [Member] | ||
Current assets | ||
Cash | 806 | 785 |
Short-term investments | 5,405 | 3,290 |
Restricted cash and short-term investments | 657 | 650 |
Accounts receivable, net | 1,490 | 1,445 |
Aircraft fuel, spare parts and supplies, net | 632 | 625 |
Prepaid expenses and other | 795 | 462 |
Total current assets | 9,785 | 7,257 |
Operating property and equipment | ||
Flight equipment | 24,687 | 21,646 |
Ground property and equipment | 5,549 | 5,217 |
Equipment purchase deposits | 1,050 | 1,128 |
Total property and equipment, at cost | 31,286 | 27,991 |
Less accumulated depreciation and amortization | (12,086) | (11,692) |
Total property and equipment, net | 19,200 | 16,299 |
Other assets | ||
Intangibles, net of accumulated amortization | 871 | 815 |
Other assets | 1,826 | 1,921 |
Total other assets | 2,697 | 2,736 |
Total assets | 31,682 | 26,292 |
Current liabilities | ||
Current maturities of long-term debt and capital leases | 1,212 | 1,230 |
Accounts payable | 1,269 | 1,029 |
Accrued salaries and wages | 707 | 650 |
Air traffic liability | 4,373 | 2,989 |
Frequent flyer liability | 2,649 | 1,823 |
Payables to related parties, net | 565 | 2,563 |
Other accrued liabilities | 1,336 | 1,236 |
Total current liabilities | 12,111 | 11,520 |
Noncurrent liabilities | ||
Long-term debt and capital leases, net of current maturities | 12,040 | 10,004 |
Pension and postretirement benefits | 7,270 | 7,400 |
Deferred gains and credits, net | 263 | 271 |
Bankruptcy settlement obligations | 177 | 325 |
Other liabilities | 2,664 | 2,344 |
Total noncurrent liabilities | $ 22,414 | $ 20,344 |
Commitments and contingencies | ||
Stockholders' equity (deficit) | ||
Common stock | $ 0 | $ 0 |
Additional paid-in capital | 10,833 | 10,632 |
Accumulated other comprehensive loss | (4,734) | (4,645) |
Accumulated deficit | (8,942) | (11,559) |
Total stockholders' equity (deficit) | (2,843) | (5,572) |
Total liabilities and stockholders' equity (deficit) | $ 31,682 | $ 26,292 |
Condensed Consolidated Balance5
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Accumulated amortization of intangibles | $ 491 | $ 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 | 640,107,543 | 697,474,535 |
Common stock, shares outstanding | 640,107,543 | 697,474,535 |
American Airlines, Inc. [Member] | ||
Accumulated amortization of intangibles | $ 385 | $ 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 Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Net cash provided by operating activities | $ 6,021 | $ 2,276 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (4,621) | (4,006) |
Purchases of short-term investments | (7,717) | (3,603) |
Sales of short-term investments | 6,167 | 4,993 |
Decrease in restricted cash and short-term investments | 64 | 160 |
Net proceeds from slot transaction | 307 | |
Proceeds from sale of an investment | 52 | |
Proceeds from sale of property and equipment | 23 | 24 |
Net cash used in investing activities | (6,032) | (2,125) |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | (1,821) | (2,780) |
Proceeds from issuance of long-term debt | 4,463 | 2,407 |
Deferred financing costs | (69) | (68) |
Sale-leaseback transactions | 43 | 531 |
Exercise of stock options | 9 | |
Treasury stock repurchases | (2,411) | (155) |
Dividend payment | (206) | (72) |
Other financing activities | 34 | 15 |
Net cash provided by (used in) financing activities | 33 | (113) |
Net increase in cash | 22 | 38 |
Cash at beginning of period | 994 | 1,140 |
Cash at end of period | 1,016 | 1,178 |
Non-cash investing and financing activities: | ||
Settlement of bankruptcy obligations | 60 | 5,469 |
Capital lease obligations | 5 | 479 |
Supplemental information: | ||
Interest paid, net of amounts capitalized | 648 | 640 |
Income taxes paid | 22 | 8 |
American Airlines, Inc. [Member] | ||
Net cash provided by operating activities | 4,093 | 2,034 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (3,962) | (2,746) |
Purchases of short-term investments | (5,061) | (2,526) |
Sales of short-term investments | 2,944 | 3,889 |
Decrease in restricted cash and short-term investments | (7) | 50 |
Net proceeds from slot transaction | 299 | |
Funds transferred to affiliates, net | (198) | |
Proceeds from sale of property and equipment | 18 | 5 |
Net cash used in investing activities | (6,068) | (1,227) |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | (1,544) | (2,201) |
Proceeds from issuance of long-term debt | 3,554 | 1,098 |
Deferred financing costs | (57) | (56) |
Sale-leaseback transactions | 43 | 531 |
Net cash provided by (used in) financing activities | 1,996 | (628) |
Net increase in cash | 21 | 179 |
Cash at beginning of period | 785 | 829 |
Cash at end of period | 806 | 1,008 |
Non-cash investing and financing activities: | ||
Settlement of bankruptcy obligations | 60 | 5,105 |
Capital lease obligations | 479 | |
Supplemental information: | ||
Interest paid, net of amounts capitalized | 479 | 466 |
Income taxes paid | $ 6 | $ 3 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 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 flyer program, pensions, 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 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. On July 9, 2015, the FASB issued ASU 2015-14, which deferred the effective date of this new standard to periods beginning after December 15, 2017 for public entities. Early application is permitted, but not before interim and annual reporting periods beginning after December 15, 2016. 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 to 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 flyer program, pensions, 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 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. On July 9, 2015, the FASB issued ASU 2015-14, which deferred the effective date of this new standard to periods beginning after December 15, 2017 for public entities. Early application is permitted, but not before interim and annual reporting periods beginning after December 15, 2016. 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 to 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 M
Emergence from Chapter 11 and Merger with US Airways Group | 9 Months Ended |
Sep. 30, 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 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 $2.5 billion and the Allowed Single-Dip General Unsecured Claims (as defined in the Plan) were approximately $2.5 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. On July 14, 2015, approximately 0.6 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 $2 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 September 30, 2015, there were approximately 25.3 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 is expected to take considerable time. 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 September 30, 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 NOLs carried over from prior taxable years (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 Restated Certificate of Incorporation (the 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 the 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 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 $2.5 billion and the Allowed Single-Dip General Unsecured Claims (as defined in the Plan) were approximately $2.5 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. On July 14, 2015, approximately 0.6 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 $2 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 September 30, 2015, there were approximately 25.3 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 is expected to take considerable time. 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 September 30, 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 NOLs carried over from prior taxable years (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 Restated Certificate of Incorporation (the 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 the 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 Obligatio
Bankruptcy Settlement Obligations | 9 Months Ended |
Sep. 30, 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): September 30, 2015 December 31, 2014 Single-Dip Equity Obligations $ 135 $ 248 Labor-related deemed claim 42 77 Total $ 177 $ 325 The amount of the remaining Single-Dip Equity Obligations at September 30, 2015 is the Company’s estimate of its obligation for disputed claims of $135 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 September 30, 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 September 30, 2015, the remaining liability to certain AMR labor groups and employees of $42 million represents the estimated fair value of the remaining shares expected to be issued in satisfaction of such obligation, measured as if the obligation was settled using the closing price of AAG Common Stock at September 30, 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. On February 10, 2015 and July 14, 2015, approximately 0.8 million and 0.6 million shares, respectively, 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 0.1 million shares in the aggregate 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): September 30, 2015 December 31, 2014 Single-Dip Equity Obligations $ 135 $ 248 Labor-related deemed claim 42 77 Total $ 177 $ 325 The amount of the remaining Single-Dip Equity Obligations at September 30, 2015 is American’s estimate of its obligation for disputed claims of $135 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 September 30, 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 September 30, 2015, the remaining liability to certain AMR labor groups and employees of $42 million represents the estimated fair value of the remaining shares expected to be issued in satisfaction of such obligation, measured as if the obligation was settled using the closing price of AAG Common Stock at September 30, 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. On February 10, 2015 and July 14, 2015, approximately 0.8 million and 0.6 million shares, respectively, 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 0.1 million shares in the aggregate were withheld or sold on account of related tax obligations. |
Special Items
Special Items | 9 Months Ended |
Sep. 30, 2015 | |
Special Items | 4. Special Items Special items, net on the condensed consolidated statements of operations are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Mainline operating special items, net (a) $ 163 $ 221 $ 610 $ 335 (a) The 2015 third quarter mainline operating special items totaled a net charge of $163 million, which principally included $196 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, as well as a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a $66 million credit related to proceeds received from a legal settlement. The 2015 nine month period mainline operating special items totaled a net charge of $610 million, which principally included $633 million of merger integration expenses as described above, a net $99 million charge related to the Company’s new pilot joint collective bargaining agreement and a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a net $75 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations and a $66 million credit related to proceeds received from a legal settlement. The 2014 third quarter mainline operating special items totaled a net charge of $221 million, which principally included $166 million of merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training, as well as $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments. These charges were offset in part by a net $40 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2014 nine month period mainline operating special items totaled a net charge of $335 million, which principally included $530 million of merger integration expenses as described above, $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values and other spare parts asset impairments, as well as $46 million in charges primarily relating to the buyout of certain aircraft leases. These charges were offset in part by a $309 million gain on the sale of Slots at Ronald Reagan Washington National Airport and a net $35 million credit for bankruptcy related items as described above. The following additional amounts are also included in the condensed consolidated statements of operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Regional operating special items, net (a) $ 2 $ 2 $ 20 $ 7 Nonoperating special items, net (b) 21 50 2 101 Income tax special items, net (c) 6 8 22 352 (a) The 2015 and 2014 third quarter and nine month period regional operating special items principally related to merger integration expenses. (b) The 2015 third quarter nonoperating special items totaled a net charge of $21 million, which was primarily due to non-cash write offs of unamortized debt discount and debt issuance costs associated with the purchase and subsequent remarketing of certain special facility revenue bonds. The 2015 nine month period nonoperating special items totaled a net charge of $2 million, which principally included $40 million in charges primarily related to non-cash write offs of unamortized debt discount and debt issuance costs associated with refinancing the Company’s secured term loan facilities, prepayments of certain aircraft financings and the purchase and subsequent remarketing of certain special facility revenue bonds. These charges were offset in part by a $22 million gain associated with the sale of an investment and a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank. The 2014 third quarter nonoperating special items totaled a net charge of $50 million, which was primarily due to early debt extinguishment costs related to the prepayment of American’s 7.50% senior secured notes and other indebtedness. The 2014 nine month period nonoperating special items totaled a net charge of $101 million, which primarily included $54 million of early debt extinguishment costs as described above and $33 million of non-cash interest accretion on the bankruptcy settlement obligations. (c) The 2015 third quarter and nine month period tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 third quarter, the Company recorded a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 nine month period, the Company sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, the Company recorded a special non-cash tax provision of $330 million in the second quarter of 2014 that reversed the non-cash tax provision which was recorded in other comprehensive income (OCI), a subset of stockholders’ equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of the Company’s fuel hedging contracts. In accordance with GAAP, the Company retained the $330 million tax provision in OCI until the last contract was settled or terminated. In addition, the 2014 nine month period included a special $22 million 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Mainline operating special items, net (a) $ 77 $ 164 $ 350 $ 127 (a) The 2015 third quarter mainline operating special items totaled a net charge of $77 million, which principally included $115 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, as well as a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a $66 million credit related to proceeds received from a legal settlement. The 2015 nine month period mainline operating special items totaled a net charge of $350 million, which principally included $400 million of merger integration expenses as described above, a net $64 million charge related to American’s new pilot joint collective bargaining agreement and a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a net $75 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations and a $66 million credit related to proceeds received from a legal settlement. The 2014 third quarter mainline operating special items totaled a net charge of $164 million, which principally included $103 million of merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training, as well as $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments. These charges were offset in part by a net $40 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2014 nine month period mainline operating special items totaled a net charge of $127 million, which principally included $337 million of merger integration expenses as described above, $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments, as well as $35 million in charges primarily relating to the buyout of certain aircraft leases. These charges were offset in part by a $305 million gain on the sale of Slots at Ronald Reagan Washington National Airport and a net $57 million credit for bankruptcy related items as described above. The following additional amounts are also included in the condensed consolidated statements of operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Regional operating special items, net (a) $ 1 $ 2 $ 4 $ 4 Nonoperating special items, net (b) 21 48 24 89 Income tax special items, net (c) 6 7 20 349 (a) The 2015 and 2014 third quarter and nine month period regional operating special items principally related to merger integration expenses. (b) The 2015 third quarter nonoperating special items totaled a net charge of $21 million, which was primarily due to non-cash write offs of unamortized debt discount and debt issuance costs associated with the purchase and subsequent remarketing of certain special facility revenue bonds. The 2015 nine month period nonoperating special items totaled a net charge of $24 million, which principally included $41 million in charges primarily related to non-cash write offs of unamortized debt discount and debt issuance costs associated with refinancing American’s secured term loan facilities, prepayments of certain aircraft financings and the purchase and subsequent remarketing of certain special facility revenue bonds. These charges were offset in part by a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank. The 2014 third quarter nonoperating special items totaled a net charge of $48 million, which was primarily due to early debt extinguishment costs related to the prepayment of American’s 7.50% senior secured notes and other indebtedness. The 2014 nine month period nonoperating special items totaled a net charge of $89 million, which primarily included $46 million of early debt extinguishment costs as described above and $29 million of non-cash interest accretion on the bankruptcy settlement obligations. (c) The 2015 third quarter and nine month period tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 third quarter, American recorded a special $7 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 nine month period, American sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, American recorded a special non-cash tax provision of $328 million in the second quarter of 2014 that reversed the non-cash tax provision which was recorded in other comprehensive income (OCI), a subset of stockholder’s equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of American’s fuel hedging contracts. In accordance with GAAP, American retained the $328 million tax provision in OCI until the last contract was settled or terminated. In addition, the 2014 nine month period included a special $21 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic EPS: Net income $ 1,693 $ 942 $ 4,329 $ 2,285 Weighted-average common shares outstanding 661,869 719,067 682,337 721,213 Basic EPS $ 2.56 $ 1.31 $ 6.34 $ 3.17 Diluted EPS: Net income $ 1,693 $ 942 $ 4,329 $ 2,285 Change in fair value of conversion feature on 7.25% convertible senior notes (a) — — — 3 Net income for purposes of computing diluted EPS $ 1,693 $ 942 $ 4,329 $ 2,288 Share computation for diluted earnings per share (in thousands): Weighted-average shares outstanding 661,869 719,067 682,337 721,213 Dilutive effect of stock awards 18,870 16,129 19,423 14,610 Assumed conversion of convertible senior notes — — — 1,277 Weighted average common shares outstanding 680,739 735,196 701,760 737,100 Diluted EPS $ 2.49 $ 1.28 $ 6.17 $ 3.10 The following were excluded from the calculation of diluted EPS (in thousands): Stock options, SARs and RSUs because inclusion would be antidilutive 1,094 248 667 288 (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. For purposes of computing diluted earnings per share under GAAP, the Company was required to adjust the numerator by the change in fair value of the conversion feature from March 12, 2014 to May 15, 2014, which increased GAAP net income by $3 million for the nine months ended September 30, 2014. |
Share Repurchase Program and Di
Share Repurchase Program and Dividend | 9 Months Ended |
Sep. 30, 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 $2.0 billion share repurchase program, which was completed in the third quarter of 2015. In July 2015, the Company announced that its Board of Directors had authorized an additional $2.0 billion share repurchase program to be completed by the end of 2016. Share repurchases 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 September 30, 2015, the Company repurchased 38.4 million shares of AAG Common Stock for $1.6 billion at a weighted average cost per share of $40.56. During the nine months ended September 30, 2015, the Company repurchased 59.5 million shares of AAG Common Stock for $2.5 billion at a weighted average cost per share of $42.00. In January 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. 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. In July 2015, the Company announced that its Board of Directors had declared a $0.10 per share dividend for shareholders of record on August 10, 2015, and payable on August 24, 2015. The total cash payment for dividends during the three and nine months ended September 30, 2015 was $67 million and $206 million, respectively. 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 | 9 Months Ended |
Sep. 30, 2015 | |
Debt | 7. Debt Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): September 30, 2015 December 31, 2014 Secured 2013 Credit Facilities, variable interest rate of 3.25%, installments through 2020 $ 1,867 $ 1,872 2014 Credit Facilities, variable interest rate of 3.50%, installments through 2021 750 750 2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 980 990 2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 588 594 Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 9.75%, maturing from 2015 to 2027 8,891 7,028 Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.59% to 8.48%, maturing from 2015 to 2027 3,747 2,952 Special facility revenue bonds, fixed interest rates ranging from 2.00% to 8.00%, maturing from 2016 to 2035 1,080 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 940 994 18,843 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 20,593 17,963 Less: Total unamortized debt discount 32 59 Less: Current maturities 1,712 1,708 Long-term debt and capital lease obligations, net of current maturities $ 18,849 $ 16,196 2013 Credit Facilities On May 21, 2015, American refinanced its $1.9 billion term loan facility (the $1.9 billion 2015 Term Loan Facility and, together with a $1.4 billion revolving credit facility, the 2013 Credit Facilities) to extend the maturity date to June 29, 2020 and reduce the LIBOR margin from 3.00% to 2.75%. In addition, American entered into certain amendments to reflect the ability for American to make future modifications to the collateral pledged, subject to certain restrictions. The LIBOR margin under the $1.9 billion 2015 Term Loan Facility may vary based on American’s credit ratings. As of September 30, 2015, as a result of American’s improved credit ratings, the LIBOR margin was 2.50%. 2014 Credit Facilities On April 20, 2015, American refinanced its $750 million term loan facility (the $750 million 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, as well as the ability for American to make future modifications to the collateral pledged, subject to certain restrictions. The LIBOR margin under the $750 million 2015 Term Loan Facility may vary based on American’s credit ratings. As of September 30, 2015, as a result of American’s improved credit ratings, the LIBOR margin was 2.75%. 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 (the 2015-1 EETCs) in connection with the financing of 28 aircraft owned by American (the 2015 EETC Aircraft). As of September 30, 2015, the entire $1.2 billion of the proceeds from the sale of the 2015-1 EETCs has been used to purchase equipment notes issued by American in two series: Series A equipment notes in the amount of $948 million bearing interest at 3.375% per annum and Series B equipment notes in the amount of $266 million bearing interest at 3.70% per annum. Interest and principal payments on the equipment notes are payable semi-annually 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 the 2015 EETC Aircraft. 2015-2 EETCs In September 2015, American created three pass-through trusts which issued approximately $1.1 billion aggregate face amount of Series 2015-2 Class AA, Class A and Class B EETCs (the 2015-2 EETCs) in connection with the financing of 21 aircraft owned by American (the 2015-2 EETC Aircraft). As of September 30, 2015, the entire $1.1 billion of the proceeds from the sale of the 2015-2 EETCs has been used to purchase equipment notes issued by American in three series: Series AA equipment notes in the amount of $583 million bearing interest at 3.60% per annum, Series A equipment notes in the amount of $239 million bearing interest at 4.00% per annum and Series B equipment notes in the amount of $239 million bearing interest at 4.40% per annum. Interest and principal payments on the equipment notes are payable semi-annually in March and September of each year, with interest payments beginning in March 2016 and principal payments beginning in September 2016. The final payments on the Series AA and Series A equipment notes will be in September 2027 and the final payments on the Series B equipment notes will be in September 2023. These equipment notes are secured by liens on the 2015-2 EETC Aircraft. 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, which began 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, Inc. (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. AAdvantage Loan Effective January 2, 2015, American exercised its loan repayment right with respect to the full value of the outstanding balance of the AAdvantage Loan with 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. Obligations Associated with Special Facility Revenue Bonds In December 2014, American acquired approximately $112 million aggregate principal amount of special facility revenue bonds related to the Tulsa International Airport, when such bonds were mandatorily tendered to American. The acquisition of these bonds resulted in an $11 million reduction of debt on American’s consolidated balance sheet and a $50 million reduction of a long-term operating lease obligation included in other long-term liabilities on American’s consolidated balance sheet as of December 31, 2014. American exercised its option to remarket approximately $104 million of these bonds in May 2015. The remarketed bonds bear interest at 5.0% per annum from the date of initial issuance and delivery of the bonds on May 27, 2015, until the day preceding June 1, 2025, on which date the bonds will be subject to mandatory tender for purchase by American. In connection with the remarketing of these special facility revenue bonds, American received cash proceeds of $112 million and recognized a total obligation of $62 million. Of that total obligation, $11 million is reflected as a capital lease and $51 million is reflected in other long-term liabilities on American’s condensed consolidated balance sheet as of September 30, 2015. In June 2015, American exercised its right to adjust the interest rate on approximately $365 million aggregate principal amount of special facility revenue bonds related to the John F. Kennedy International Airport, which were bearing interest at 8.50% per annum. In August 2015, these bonds were purchased by American and subsequently remarketed. The remarketed bonds bear interest at 2.00% per annum from the date of initial issuance and delivery of the bonds in August 2015, until August 2016, when the bonds will be subject to mandatory tender for purchase by American. In connection with this transaction, American recorded a special nonoperating charge of $20 million related primarily to non-cash write offs of unamortized debt discount and debt issuance costs. The $365 million obligation is reflected in current maturities of long-term debt on American’s condensed consolidated balance sheet as of September 30, 2015. Other Aircraft Financing Transactions In the first nine months of 2015, the Company prepaid $72 million principal amount of outstanding debt secured by certain aircraft. In the first nine months of 2015, the Company entered into loan agreements to borrow $1.3 billion in connection with the financing of certain aircraft. The notes mature in 2022 through 2027 and bear interest at a rate of LIBOR plus an applicable margin. |
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): September 30, 2015 December 31, 2014 Secured 2013 Credit Facilities, variable interest rate of 3.25%, installments through 2020 $ 1,867 $ 1,872 2014 Credit Facilities, variable interest rate of 3.50%, 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 6,283 4,271 Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.63% to 8.10%, maturing from 2015 to 2027 2,355 1,860 Special facility revenue bonds, fixed interest rates ranging from 2.00% to 8.00%, maturing from 2016 to 2035 1,051 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 935 992 13,241 11,249 Unsecured Affiliate unsecured obligations 27 27 27 27 Total long-term debt and capital lease obligations 13,268 11,276 Less: Total unamortized debt discount 16 42 Less: Current maturities 1,212 1,230 Long-term debt and capital lease obligations, net of current maturities $ 12,040 $ 10,004 2013 Credit Facilities On May 21, 2015, American refinanced its $1.9 billion term loan facility (the $1.9 billion 2015 Term Loan Facility and, together with a $1.4 billion revolving credit facility, the 2013 Credit Facilities) to extend the maturity date to June 29, 2020 and reduce the LIBOR margin from 3.00% to 2.75%. In addition, American entered into certain amendments to reflect the ability for American to make future modifications to the collateral pledged, subject to certain restrictions. The LIBOR margin under the $1.9 billion 2015 Term Loan Facility may vary based on American’s credit ratings. As of September 30, 2015, as a result of American’s improved credit ratings, the LIBOR margin was 2.50%. 2014 Credit Facilities On April 20, 2015, American refinanced its $750 million term loan facility (the $750 million 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, as well as the ability for American to make future modifications to the collateral pledged, subject to certain restrictions. The LIBOR margin under the $750 million 2015 Term Loan Facility may vary based on American’s credit ratings. As of September 30, 2015, as a result of American’s improved credit ratings, the LIBOR margin was 2.75%. 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 (the 2015-1 EETCs) in connection with the financing of 28 aircraft owned by American (the 2015 EETC Aircraft). As of September 30, 2015, the entire $1.2 billion of the proceeds from the sale of the 2015-1 EETCs has been used to purchase equipment notes issued by American in two series: Series A equipment notes in the amount of $948 million bearing interest at 3.375% per annum and Series B equipment notes in the amount of $266 million bearing interest at 3.70% per annum. Interest and principal payments on the equipment notes are payable semi-annually 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 the 2015 EETC Aircraft. 2015-2 EETCs In September 2015, American created three pass-through trusts which issued approximately $1.1 billion aggregate face amount of Series 2015-2 Class AA, Class A and Class B EETCs (the 2015-2 EETCs) in connection with the financing of 21 aircraft owned by American (the 2015-2 EETC Aircraft). As of September 30, 2015, the entire $1.1 billion of the proceeds from the sale of the 2015-2 EETCs has been used to purchase equipment notes issued by American in three series: Series AA equipment notes in the amount of $583 million bearing interest at 3.60% per annum, Series A equipment notes in the amount of $239 million bearing interest at 4.00% per annum and Series B equipment notes in the amount of $239 million bearing interest at 4.40% per annum. Interest and principal payments on the equipment notes are payable semi-annually in March and September of each year, with interest payments beginning in March 2016 and principal payments beginning in September 2016. The final payments on the Series AA and Series A equipment notes will be in September 2027 and the final payments on the Series B equipment notes will be in September 2023. These equipment notes are secured by liens on the 2015-2 EETC Aircraft. AAdvantage Loan Effective January 2, 2015, American exercised its loan repayment right with respect to the full value of the outstanding balance of the AAdvantage Loan with 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. Obligations Associated with Special Facility Revenue Bonds In December 2014, American acquired approximately $112 million aggregate principal amount of special facility revenue bonds related to the Tulsa International Airport, when such bonds were mandatorily tendered to American. The acquisition of these bonds resulted in an $11 million reduction of debt on American’s consolidated balance sheet and a $50 million reduction of a long-term operating lease obligation included in other long-term liabilities on American’s consolidated balance sheet as of December 31, 2014. American exercised its option to remarket approximately $104 million of these bonds in May 2015. The remarketed bonds bear interest at 5.0% per annum from the date of initial issuance and delivery of the bonds on May 27, 2015, until the day preceding June 1, 2025, on which date the bonds will be subject to mandatory tender for purchase by American. In connection with the remarketing of these special facility revenue bonds, American received cash proceeds of $112 million and recognized a total obligation of $62 million. Of that total obligation, $11 million is reflected as a capital lease and $51 million is reflected in other long-term liabilities on American’s condensed consolidated balance sheet as of September 30, 2015. In June 2015, American exercised its right to adjust the interest rate on approximately $365 million aggregate principal amount of special facility revenue bonds related to the John F. Kennedy International Airport, which were bearing interest at 8.50% per annum. In August 2015, these bonds were purchased by American and subsequently remarketed. The remarketed bonds bear interest at 2.00% per annum from the date of initial issuance and delivery of the bonds in August 2015, until August 2016, when the bonds will be subject to mandatory tender for purchase by American. In connection with this transaction, American recorded a special nonoperating charge of $20 million related primarily to non-cash write offs of unamortized debt discount and debt issuance costs. The $365 million obligation is reflected in current maturities of long-term debt on American’s condensed consolidated balance sheet as of September 30, 2015. Other Aircraft Financing Transactions In the first nine months of 2015, American prepaid $72 million principal amount of outstanding debt secured by certain aircraft. In the first nine months of 2015, American entered into loan agreements to borrow $902 million in connection with the financing of certain aircraft. The notes mature in 2023 through 2027 and bear interest at a rate of LIBOR plus an applicable margin. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 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 in evaluating the realizability of its deferred tax assets. Many factors are considered which impact the Company’s projections of future sustained profitability including risks associated with merger integration as well as other conditions which are beyond the Company’s control, such as the health of the economy, the level and volatility of fuel prices and travel demand. The Company has concluded as of September 30, 2015, that the valuation allowance was still needed on its deferred tax assets based on the weight of the factors described above. However, if for the remainder of 2015, projections for future sustained profitability continue and additional merger integration milestones are completed, the Company anticipates that it may reverse substantially all of its valuation allowance as early as the end of 2015. For the three and nine months ended September 30, 2015, the Company recorded a special $6 million and $22 million, respectively, non-cash deferred income tax provision related to certain indefinite-lived intangible assets. In addition, for the three and nine months ended September 30, 2015, the Company recorded $10 million and $20 million, respectively, of state and international income tax expense related to certain states and other jurisdictions where NOLs were limited or unavailable to be used. For the three and nine months ended September 30, 2014, the Company recorded a special $8 million and $22 million, respectively, non-cash deferred income tax provision related to certain indefinite-lived intangible assets. In addition, for the 2014 nine month period, the Company recorded a special $330 million non-cash tax provision related to the settlement of fuel hedges discussed below and $8 million of tax expense principally related to certain states and other jurisdictions where NOLs were limited or unavailable to be used. During the second quarter of 2014, the Company sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, the Company recorded a special non-cash tax provision of $330 million in the statement of operations for the nine months ended September 30, 2014 that reversed the non-cash tax provision which was recorded in OCI, a subset of stockholders’ equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of the Company’s fuel hedging contracts. In accordance with GAAP, the Company retained the $330 million tax provision in OCI until the last contract was settled or terminated. |
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 Alternative Minimum Tax (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 in evaluating the realizability of its deferred tax assets. Many factors are considered which impact American’s projections of future sustained profitability including risks associated with merger integration as well as other conditions which are beyond American’s control, such as the health of the economy, the level and volatility of fuel prices and travel demand. American has concluded as of September 30, 2015, that the valuation allowance was still needed on its deferred tax assets based on the weight of the factors described above. However, if for the remainder of 2015, projections for future sustained profitability continue and additional merger integration milestones are completed, American anticipates that it may reverse substantially all of its valuation allowance as early as the end of 2015. For the three and nine months ended September 30, 2015, American recorded a special $6 million and $20 million, respectively, non-cash deferred income tax provision related to certain indefinite-lived intangible assets. In addition, for the three and nine months ended September 30, 2015, American recorded $3 million and $8 million, respectively, of state and international income tax expense related to certain states and other jurisdictions where NOLs were limited or unavailable to be used. For the three and nine months ended September 30, 2014, American recorded a special $7 million and $21 million, respectively, non-cash deferred income tax provision related to certain indefinite-lived intangible assets. In addition for the 2014 nine month period, American recorded a special $328 million non-cash tax provision related to the settlement of fuel hedges discussed below and $3 million of tax expense principally related to certain states and other jurisdictions where NOLs were limited or unavailable to be used. During the second quarter of 2014, American sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, American recorded a special non-cash tax provision of $328 million in the statement of operations for the nine months ended September 30, 2014 that reversed the non-cash tax provision which was recorded in OCI, a subset of stockholder’s equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of American’s fuel hedging contracts. In accordance with GAAP, American retained the $328 million tax provision in OCI until the last contract was settled or terminated. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 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 nine months ended September 30, 2015. Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): Fair Value Measurements as of September 30, 2015 Total Level 1 Level 2 Level 3 Short-term investments (1), (2) Money market funds $ 1,486 $ 1,486 $ — $ — Repurchase agreements 41 — 41 — Corporate obligations 3,491 — 3,491 — Bank notes / certificates of deposit / time deposits 2,839 — 2,839 — 7,857 1,486 6,371 — Restricted cash and short-term investments (1) 710 710 — — Total $ 8,567 $ 2,196 $ 6,371 $ — (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) All short-term investments are classified as available-for-sale and stated at fair value. In addition, all short-term investments mature in one year or less except for $788 million of corporate obligations and $1.6 billion of bank notes/certificates of deposit/time deposits. There were no Level 1 to Level 2 transfers during the nine months ended September 30, 2015. Venezuela Cash and Short-term Investments As of September 30, 2015, the Company had approximately $609 million of unrestricted cash and short-term investments held in Venezuelan bolivars. This balance is valued at 6.3 bolivars to the U.S. dollar, which is the rate that was in effect on the date the Company submitted each of its repatriation requests to the Venezuelan government. This rate is materially more favorable than the exchange rates currently prevailing for other transactions conducted outside of the Venezuelan government’s currency exchange system. 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 recent 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 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): September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 20,561 $ 20,971 $ 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 nine months ended September 30, 2015. Assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): Fair Value Measurements as of September 30, 2015 Total Level 1 Level 2 Level 3 Short-term investments (1), (2) Money market funds $ 1,419 $ 1,419 $ — $ — Repurchase agreements 41 — 41 — Corporate obligations 1,977 — 1,977 — Bank notes / certificates of deposit / time deposits 1,968 — 1,968 — 5,405 1,419 3,986 — Restricted cash and short-term investments (1) 657 657 — — Total $ 6,062 $ 2,076 $ 3,986 $ — (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) All short-term investments are classified as available-for-sale and stated at fair value. In addition, all short-term investments mature in one year or less except for $375 million of corporate obligations and $1.3 billion of bank notes/certificates of deposit/time deposits. There were no Level 1 to Level 2 transfers during the nine months ended September 30, 2015. Venezuela Cash and Short-term Investments As of September 30, 2015, American had approximately $609 million of unrestricted cash and short-term investments held in Venezuelan bolivars. This balance is valued at 6.3 bolivars to the U.S. dollar, which is the rate that was in effect on the date American submitted each of its repatriation requests to the Venezuelan government. This rate is materially more favorable than the exchange rates currently prevailing for other transactions conducted outside of the Venezuelan government’s currency exchange system. 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 recent 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 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): September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 13,252 $ 13,461 $ 11,234 $ 11,618 |
Retirement Benefits
Retirement Benefits | 9 Months Ended |
Sep. 30, 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 September 30, 2015 2014 2015 2014 Service cost $ 1 $ 1 $ 1 $ — Interest cost 184 186 13 15 Expected return on assets (213 ) (197 ) (5 ) (5 ) Settlements — 1 — — Amortization of: Prior service cost (benefit) (1) 7 7 (60 ) (55 ) Unrecognized net loss (gain) 28 12 (2 ) (2 ) Net periodic benefit cost (income) $ 7 $ 10 $ (53 ) $ (47 ) (1) The 2015 third quarter prior service cost does not include amortization of $1 million related to other post-employment benefits. Pension Benefits Retiree Medical and Other Benefits Nine Months Ended September 30, 2015 2014 2015 2014 Service cost $ 2 $ 3 $ 3 $ 1 Interest cost 552 557 38 46 Expected return on assets (639 ) (589 ) (15 ) (15 ) Settlements 1 4 — — Amortization of: Prior service cost (benefit) (1) 21 21 (182 ) (175 ) Unrecognized net loss (gain) 84 35 (5 ) (6 ) Net periodic benefit cost (income) $ 21 $ 31 $ (161 ) $ (149 ) (1) The 2015 nine month period prior service cost does not include amortization of $2 million related to other post-employment benefits. Effective November 1, 2012, substantially all of 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, 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, the Company’s minimum funding obligation for its pension plans is subject to temporary favorable rules that are scheduled to expire at the end of 2017. The Company’s pension funding obligations are likely to increase materially beginning in 2019, when the Company will be required to make contributions relating to the 2018 fiscal year. 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 September 30, 2015 2014 2015 2014 Service cost $ — $ 1 $ — $ — Interest cost 183 185 11 14 Expected return on assets (212 ) (196 ) (5 ) (5 ) Settlements — 1 — — Amortization of: Prior service cost (benefit) 7 7 (59 ) (54 ) Unrecognized net loss (gain) 28 12 (2 ) (2 ) Net periodic benefit cost (income) $ 6 $ 10 $ (55 ) $ (47 ) Pension Benefits Retiree Medical and Other Benefits Nine Months Ended September 30, 2015 2014 2015 2014 Service cost $ 1 $ 2 $ 1 $ — Interest cost 550 554 34 42 Expected return on assets (636 ) (587 ) (15 ) (15 ) Settlements 1 4 — — Amortization of: Prior service cost (benefit) (1) 21 21 (178 ) (172 ) Unrecognized net loss (gain) 84 35 (6 ) (6 ) Net periodic benefit cost (income) $ 21 $ 29 $ (164 ) $ (151 ) (1) The 2015 nine month period prior service cost does not include amortization of $2 million related to other post-employment benefits. Effective November 1, 2012, substantially all of 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, 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. American’s pension funding obligations are likely to increase materially beginning in 2019, when American will be required to make contributions relating to the 2018 fiscal year. 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 Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) | 11. Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) (AOCI) are as follows (in millions): Pension and Liability Derivative Instruments Unrealized Income Tax (Expense) Total Balance at December 31, 2014 $ (3,683 ) $ 9 $ (5 ) $ (880 ) $ (4,559 ) Other comprehensive income (loss) before reclassifications — — (5 ) — (5 ) Amounts reclassified from accumulated other comprehensive income (loss) (79 ) (9 ) 1 — (87 ) Net current period other comprehensive income (loss) (79 ) (9 ) (4 ) — (92 ) Balance at September 30, 2015 $ (3,762 ) $ — $ (9 ) $ (880 ) $ (4,651 ) Reclassifications out of AOCI for the three and nine months ended September 30, 2015 and 2014 are as follows (in millions): Amounts reclassified from AOCI AOCI Components Three Months Ended Nine Months Ended Affected line items on condensed consolidated statement of operations 2015 2014 2015 2014 Amortization of pension and retiree medical liability: Prior service cost $ (52 ) $ (48 ) $ (159 ) $ (154 ) Salaries, wages and benefits Actuarial loss 26 10 80 29 Salaries, wages and benefits Derivative financial instruments: Cash flow hedges — (7 ) (9 ) 5 Aircraft fuel and related taxes Net unrealized change on investments: Net change in value — (2 ) 1 — Other nonoperating, net Income tax benefit: Reversal of non-cash tax provision — — — 330 Income tax provision Total reclassifications for the period $ (26 ) $ (47 ) $ (87 ) $ 210 |
American Airlines, Inc. [Member] | |
Accumulated Other Comprehensive Income (Loss) | 9. Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) (AOCI) are as follows (in millions): Pension and Liability Derivative Instruments Unrealized Income Tax (Expense) Total Balance at December 31, 2014 $ (3,660 ) $ 9 $ (3 ) $ (991 ) $ (4,645 ) Other comprehensive income (loss) before reclassifications — — (4 ) — (4 ) Amounts reclassified from accumulated other comprehensive income (loss) (76 ) (9 ) — — (85 ) Net current period other comprehensive income (loss) (76 ) (9 ) (4 ) — (89 ) Balance at September 30, 2015 $ (3,736 ) $ — $ (7 ) $ (991 ) $ (4,734 ) Reclassifications out of AOCI for the three and nine months ended September 30, 2015 and 2014 are as follows (in millions): Amounts reclassified from AOCI AOCI Components Three Months Ended Nine Months Ended Affected line items on condensed 2015 2014 2015 2014 Amortization of pension and retiree medical liability: Prior service cost $ (52 ) $ (47 ) $ (155 ) $ (151 ) Salaries, wages and benefits Actuarial loss 26 10 79 29 Salaries, wages and benefits Derivative financial instruments: Cash flow hedges — (7 ) (9 ) 5 Aircraft fuel and related taxes Net unrealized change on investments: Net change in value — (2 ) — (2 ) Other nonoperating, net Income tax benefit: Reversal of non-cash tax provision — — — 328 Income tax provision Total reclassifications for the period $ (26 ) $ (46 ) $ (85 ) $ 209 |
Regional Expenses
Regional Expenses | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Aircraft fuel and related taxes $ 310 $ 538 $ 970 $ 1,573 Salaries, wages and benefits 296 283 881 850 Capacity purchases from third-party regional carriers 399 380 1,172 1,102 Maintenance, materials and repairs 78 94 241 263 Other rent and landing fees 126 109 354 311 Aircraft rent 8 9 25 26 Selling expenses 87 79 252 238 Depreciation and amortization 62 52 181 156 Special items, net 2 2 20 7 Other 150 122 440 393 Total regional expenses $ 1,518 $ 1,668 $ 4,536 $ 4,919 |
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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Aircraft fuel and related taxes $ 166 $ 264 $ 510 $ 787 Salaries, wages and benefits 36 25 100 71 Capacity purchases from third-party regional carriers 371 327 1,067 970 Other rent and landing fees 77 61 212 177 Selling expenses 44 40 122 116 Depreciation and amortization 47 36 134 110 Special items, net 1 2 4 4 Other 61 35 169 117 Total regional expenses $ 803 $ 790 $ 2,318 $ 2,352 |
Legal Proceedings
Legal Proceedings | 9 Months Ended |
Sep. 30, 2015 | |
Legal Proceedings | 13. Legal Proceedings Chapter 11 Cases 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. On July 14, 2015, approximately 0.6 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 $2 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 September 30, 2015, there were approximately 25.3 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. DOJ Antitrust Civil Investigative Demand. Private Party Antitrust Action General |
American Airlines, Inc. [Member] | |
Legal Proceedings | 12. Legal Proceedings Chapter 11 Cases 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. On July 14, 2015, approximately 0.6 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 $2 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 September 30, 2015, there were approximately 25.3 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. DOJ Antitrust Civil Investigative Demand. Private Party Antitrust Action General |
Financial Information for Subsi
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries | 9 Months Ended |
Sep. 30, 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 September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 4,927 $ — $ 2,727 $ — $ — $ 7,654 Regional passenger — 858 — 841 — — 1,699 Cargo — 150 — 30 — — 180 Other — 847 — 353 625 (652 ) 1,173 Total operating revenues — 6,782 — 3,951 625 (652 ) 10,706 Operating expenses: Aircraft fuel and related taxes — 1,065 — 528 — — 1,593 Salaries, wages and benefits — 1,563 — 839 193 (191 ) 2,404 Regional expenses — 803 — 738 — (23 ) 1,518 Maintenance, materials and repairs — 261 — 195 78 (78 ) 456 Other rent and landing fees — 286 — 146 11 (11 ) 432 Aircraft rent — 225 — 83 40 (40 ) 308 Selling expenses — 256 — 110 — — 366 Depreciation and amortization — 245 — 92 10 (11 ) 336 Special items, net — 77 — 86 — — 163 Other 1 790 — 343 295 (298 ) 1,131 Total operating expenses 1 5,571 — 3,160 627 (652 ) 8,707 Operating income (loss) (1 ) 1,211 — 791 (2 ) — 1,999 Nonoperating income (expense): Interest income 1 10 — 3 3 (7 ) 10 Interest expense, net (17 ) (133 ) (9 ) (64 ) (3 ) 7 (219 ) Equity in earnings of subsidiaries 1,710 — 465 — — (2,175 ) — Other, net — (83 ) — 2 — — (81 ) Total nonoperating income (expense), net 1,694 (206 ) 456 (59 ) — (2,175 ) (290 ) Income (loss) before income taxes 1,693 1,005 456 732 (2 ) (2,175 ) 1,709 Income tax provision — 9 — 278 — (271 ) 16 Net income (loss) $ 1,693 $ 996 $ 456 $ 454 $ (2 ) $ (1,904 ) $ 1,693 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Three Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income (loss) $ 1,693 $ 996 $ 456 $ 454 $ (2 ) $ (1,904 ) $ 1,693 Other comprehensive income (loss): Defined benefit pension plans and retiree medical — (26 ) — — — — (26 ) Unrealized loss on investments: Net change in value — (3 ) — (1 ) — — (4 ) Total other comprehensive income (loss) — (29 ) — (1 ) — — (30 ) Total comprehensive income (loss) $ 1,693 $ 967 $ 456 $ 453 $ (2 ) $ (1,904 ) $ 1,663 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (In millions)(Unaudited) Nine Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 14,565 $ — $ 7,733 $ — $ — $ 22,298 Regional passenger — 2,399 — 2,511 — — 4,910 Cargo — 472 — 96 — — 568 Other — 2,533 — 1,114 2,112 (2,175 ) 3,584 Total operating revenues — 19,969 — 11,454 2,112 (2,175 ) 31,360 Operating expenses: Aircraft fuel and related taxes — 3,332 — 1,580 — — 4,912 Salaries, wages and benefits — 4,684 — 2,450 584 (577 ) 7,141 Regional expenses — 2,318 — 2,296 — (78 ) 4,536 Maintenance, materials and repairs — 868 — 584 239 (239 ) 1,452 Other rent and landing fees — 825 — 465 32 (32 ) 1,290 Aircraft rent — 676 — 265 108 (108 ) 941 Selling expenses — 688 — 363 — — 1,051 Depreciation and amortization — 728 — 285 33 (33 ) 1,013 Special items, net — 350 — 260 4 (4 ) 610 Other 2 2,323 — 958 1,099 (1,104 ) 3,278 Total operating expenses 2 16,792 — 9,506 2,099 (2,175 ) 26,224 Operating income (loss) (2 ) 3,177 — 1,948 13 — 5,136 Nonoperating income (expense): Interest income 2 26 1 10 6 (16 ) 29 Interest expense, net (47 ) (396 ) (27 ) (191 ) (6 ) 16 (651 ) Equity in earnings of subsidiaries 4,354 — 1,135 — — (5,489 ) — Other, net 22 (162 ) — (4 ) 1 — (143 ) Total nonoperating income (expense), net 4,331 (532 ) 1,109 (185 ) 1 (5,489 ) (765 ) Income before income taxes 4,329 2,645 1,109 1,763 14 (5,489 ) 4,371 Income tax provision — 28 — 656 8 (650 ) 42 Net income $ 4,329 $ 2,617 $ 1,109 $ 1,107 $ 6 $ (4,839 ) $ 4,329 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (In millions)(Unaudited) Nine Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income $ 4,329 $ 2,617 $ 1,109 $ 1,107 $ 6 $ (4,839 ) $ 4,329 Other comprehensive income (loss): Defined benefit pension plans and retiree medical — (76 ) — (3 ) — — (79 ) Derivative financial instruments: Reclassification into earnings — (9 ) — — — — (9 ) Unrealized gain on investments: Net change in value — (4 ) — — — — (4 ) Total other comprehensive income (loss) — (89 ) — (3 ) — — (92 ) Total comprehensive income $ 4,329 $ 2,528 $ 1,109 $ 1,104 $ 6 $ (4,839 ) $ 4,237 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (In millions)(Unaudited) Three Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 5,321 $ — $ 2,772 $ — $ — $ 8,093 Regional passenger — 748 — 917 — — 1,665 Cargo — 175 — 40 — — 215 Other — 811 — 385 898 (928 ) 1,166 Total operating revenues — 7,055 — 4,114 898 (928 ) 11,139 Operating expenses: Aircraft fuel and related taxes — 1,894 — 935 — — 2,829 Salaries, wages and benefits — 1,412 — 723 193 (191 ) 2,137 Regional expenses — 790 — 886 — (8 ) 1,668 Maintenance, materials and repairs — 353 — 176 93 (93 ) 529 Other rent and landing fees — 279 — 152 8 (8 ) 431 Aircraft rent — 211 — 95 24 (24 ) 306 Selling expenses — 278 — 115 — — 393 Depreciation and amortization — 230 — 105 10 (11 ) 334 Special items, net — 164 — 57 — — 221 Other — 746 — 304 574 (593 ) 1,031 Total operating expenses — 6,357 — 3,548 902 (928 ) 9,879 Operating income (loss) — 698 — 566 (4 ) — 1,260 Nonoperating income (expense): Interest income 2 5 1 5 — (6 ) 7 Interest expense, net — (136 ) (11 ) (68 ) (1 ) 6 (210 ) Equity in earnings of subsidiaries 940 — 476 — — (1,416 ) — Other, net — (97 ) — (12 ) 1 — (108 ) Total nonoperating income (expense), net 942 (228 ) 466 (75 ) — (1,416 ) (311 ) Income (loss) before income taxes 942 470 466 491 (4 ) (1,416 ) 949 Income tax provision — 5 — 2 7 (7 ) 7 Net income (loss) $ 942 $ 465 $ 466 $ 489 $ (11 ) $ (1,409 ) $ 942 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Three Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income (loss) $ 942 $ 465 $ 466 $ 489 $ (11 ) $ (1,409 ) $ 942 Other comprehensive loss: Defined benefit pension plans and retiree medical — (37 ) — (1 ) — — (38 ) Derivative financial instruments: Reclassification into earnings — (7 ) — — — — (7 ) Unrealized loss on investments: Net change in value — (2 ) — — — — (2 ) Total other comprehensive loss — (46 ) — (1 ) — — (47 ) Total comprehensive income (loss) $ 942 $ 419 $ 466 $ 488 $ (11 ) $ (1,409 ) $ 895 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (In millions)(Unaudited) Nine Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 15,579 $ — $ 7,985 $ — $ — $ 23,564 Regional passenger — 2,202 — 2,577 — — 4,779 Cargo — 521 — 122 — — 643 Other — 2,374 — 1,211 2,386 (2,467 ) 3,504 Total operating revenues — 20,676 — 11,895 2,386 (2,467 ) 32,490 Operating expenses: Aircraft fuel and related taxes — 5,662 — 2,708 — — 8,370 Salaries, wages and benefits — 4,251 — 2,162 584 (578 ) 6,419 Regional expenses — 2,352 — 2,581 — (14 ) 4,919 Maintenance, materials and repairs — 1,031 — 497 258 (258 ) 1,528 Other rent and landing fees — 853 — 444 23 (23 ) 1,297 Aircraft rent — 641 — 300 67 (71 ) 937 Selling expenses — 844 — 352 — — 1,196 Depreciation and amortization — 664 — 301 30 (35 ) 960 Special items, net 22 127 — 186 3 (3 ) 335 Other 5 2,258 1 930 1,430 (1,484 ) 3,140 Total operating expenses 27 18,683 1 10,461 2,395 (2,466 ) 29,101 Operating income (loss) (27 ) 1,993 (1 ) 1,434 (9 ) (1 ) 3,389 Nonoperating income (expense): Interest income 7 18 2 8 1 (14 ) 22 Interest expense, net (4 ) (443 ) (31 ) (201 ) (2 ) 14 (667 ) Equity in earnings of subsidiaries 2,309 — 1,188 — — (3,497 ) — Other, net — (85 ) (53 ) (16 ) 2 53 (99 ) Total nonoperating income (expense), net 2,312 (510 ) 1,106 (209 ) 1 (3,444 ) (744 ) Income (loss) before income taxes 2,285 1,483 1,105 1,225 (8 ) (3,445 ) 2,645 Income tax provision — 351 — 4 14 (9 ) 360 Net income (loss) $ 2,285 $ 1,132 $ 1,105 $ 1,221 $ (22 ) $ (3,436 ) $ 2,285 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Nine Months Ended September 30, 2014 American Only) American US Airways (Parent Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income (loss) $ 2,285 $ 1,132 $ 1,105 $ 1,221 $ (22 ) $ (3,436 ) $ 2,285 Other comprehensive income (loss): Defined benefit pension plans and retiree medical — (139 ) — (3 ) — — (142 ) Derivative financial instruments: Change in fair value (2 ) (52 ) — — — — (54 ) Reclassification into earnings — 5 — — — — 5 Unrealized loss on investments: Net change in value 2 (2 ) — — — — — Reversal of non-cash tax provision 2 328 — — — — 330 Total other comprehensive income (loss) 2 140 — (3 ) — — 139 Total comprehensive income (loss) $ 2,287 $ 1,272 $ 1,105 $ 1,218 $ (22 ) $ (3,436 ) $ 2,424 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING BALANCE SHEET (In millions)(Unaudited) September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated ASSETS Current assets Cash $ 1 $ 806 $ 19 $ 181 $ 9 $ — $ 1,016 Short-term investments — 5,405 — 2,449 3 — 7,857 Restricted cash and short-term investments — 657 — 53 — — 710 Accounts receivable, net — 1,490 — 336 14 (12 ) 1,828 Receivables from related parties, net 65 — — 1,024 112 (1,201 ) — Aircraft fuel, spare parts and supplies, net — 632 — 320 58 — 1,010 Prepaid expenses and other 82 795 — 367 41 — 1,285 Total current assets 148 9,785 19 4,730 237 (1,213 ) 13,706 Operating property and equipment — 19,200 — 6,813 279 — 26,292 Other assets Investments in subsidiaries 5,143 — 8,080 — — (13,223 ) — Goodwill — — — 4,090 — 1 4,091 Intangibles, net of accumulated amortization — 871 — 1,390 — — 2,261 Other assets 27 1,826 — 489 55 (32 ) 2,365 Total other assets 5,170 2,697 8,080 5,969 55 (13,254 ) 8,717 Total assets $ 5,318 $ 31,682 $ 8,099 $ 17,512 $ 571 $ (14,467 ) $ 48,715 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities Current maturities of long-term debt and capital leases $ — $ 1,212 $ — $ 500 $ — $ — $ 1,712 Accounts payable — 1,269 — 213 45 (2 ) 1,525 Payables to related parties, net — 565 511 — 125 (1,201 ) — Air traffic liability — 4,373 — 438 — — 4,811 Frequent flyer liability — 2,649 — — — — 2,649 Other accrued liabilities 186 2,043 11 1,114 109 1 3,464 Total current liabilities 186 12,111 522 2,265 279 (1,202 ) 14,161 Noncurrent liabilities Long-term debt and capital leases, net of current maturities 1,257 12,040 525 5,062 — (35 ) 18,849 Pension and postretirement benefits — 7,270 — 123 40 — 7,433 Bankruptcy settlement obligations — 177 — — — — 177 Other liabilities 113 2,927 — 2,057 49 (813 ) 4,333 Total noncurrent liabilities 1,370 22,414 525 7,242 89 (848 ) 30,792 Stockholders’ equity (deficit) Common stock 6 — — — — — 6 Additional paid-in capital 12,852 10,833 4,779 5,618 199 (21,429 ) 12,852 Accumulated other comprehensive loss (4,651 ) (4,734 ) (19 ) (12 ) (12 ) 4,777 (4,651 ) Retained earnings (deficit) (4,445 ) (8,942 ) 2,292 2,399 16 4,235 (4,445 ) Total stockholders’ equity (deficit) 3,762 (2,843 ) 7,052 8,005 203 (12,417 ) 3,762 Total liabilities and stockholders’ equity (deficit) $ 5,318 $ 31,682 $ 8,099 $ 17,512 $ 571 $ (14,467 ) $ 48,715 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING BALANCE SHEET (In millions)(Unaudited) December 31, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated 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) Nine Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net cash provided by operating activities $ 2,073 $ 4,093 $ 17 $ (216 ) $ 54 $ — $ 6,021 Cash flows from investing activities: Capital expenditures and aircraft purchase deposits — (3,962 ) — (602 ) (57 ) — (4,621 ) Purchases of short-term investments (1 ) (5,061 ) — (2,655 ) — — (7,717 ) Sales of short-term investments — 2,944 — 3,223 — — 6,167 Decrease in restricted cash and short-term investments — (7 ) — 71 — — 64 Proceeds from sale of an investment 52 — — — — — 52 Proceeds from sale of property and equipment — 18 — — 5 — 23 Net cash provided by (used in) investing activities 51 (6,068 ) — 37 (52 ) — (6,032 ) Cash flows from financing activities: Payments on long-term debt and capital leases — (1,544 ) — (277 ) — — (1,821 ) Proceeds from issuance of long-term debt 500 3,554 — 409 — — 4,463 Deferred financing costs (7 ) (57 ) — (5 ) — — (69 ) Sale-leaseback transactions — 43 — — — — 43 Treasury stock repurchases (2,411 ) — — — — — (2,411 ) Dividend payment (206 ) — — — — — (206 ) Other financing activities — — — 34 — — 34 Net cash provided by (used in) financing activities (2,124 ) 1,996 — 161 — — 33 Net increase (decrease) in cash — 21 17 (18 ) 2 — 22 Cash at beginning of period 1 785 2 199 7 — 994 Cash at end of period $ 1 $ 806 $ 19 $ 181 $ 9 $ — $ 1,016 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (In millions)(Unaudited) Nine Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net cash provided by (used in) operating activities $ (523 ) $ 2,034 $ — $ 730 $ 35 $ — $ 2,276 Cash flows from investing activities: Capital expenditures and aircraft purchase deposits — (2,746 ) — (1,027 ) (35 ) (198 ) (4,006 ) Purchases of short-term investments — (2,526 ) — (1,076 ) (1 ) — (3,603 ) Sales of short-term investments — 3,889 — 1,104 — — 4,993 Decrease in restricted cash and short-term investments — 50 — 110 — — 160 Net proceeds from slot transaction — 299 — 8 — — 307 Funds transferred to affiliates — (198 ) — — — 198 — Proceeds from sale of property and equipment — 5 — 19 — — 24 Net cash used in investing activities — (1,227 ) — (862 ) (36 ) — (2,125 ) Cash flows from financing activities: Payments on long-term debt and capital leases — (2,201 ) — (403 ) — (176 ) (2,780 ) Proceeds from issuance of long-term debt 750 1,098 — 559 — — 2,407 Deferred financing costs (10 ) (56 ) — (2 ) — — (68 ) Sale-leaseback transactions — 531 — — — — 531 Exercise of stock options 9 — — — — — 9 Treasury stock repurchases (155 ) — — — — — (155 ) Dividend payment (72 ) — — — — — (72 ) Funds transferred to affiliates, net — — — (176 ) — 176 — Other financing activities — — — 15 — — 15 Net cash provided by (used in) financing activities 522 (628 ) — (7 ) — — (113 ) Net increase (decrease) in cash (1 ) 179 — (139 ) (1 ) — 38 Cash at beginning of period 1 829 1 303 6 — 1,140 Cash at end of period $ — $ 1,008 $ 1 $ 164 $ 5 $ — $ 1,178 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 15. Subsequent Events Share Repurchase Program and Dividend Declaration In October 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. Share repurchases 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. Also in October 2015, the Company announced that its Board of Directors had declared a $0.10 per share dividend for shareholders of record on November 5, 2015, and payable on November 19, 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. |
Transactions with Related Parti
Transactions with Related Parties | 9 Months Ended |
Sep. 30, 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): September 30, 2015 December 31, 2014 American Airlines Group Parent $ (1,994 ) $ 40 US Airways Group, Inc. 476 320 Envoy Aviation Group (1) 2,083 2,203 Total $ 565 $ 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. For the three and nine months ended September 30, 2015, $208 million and $430 million, respectively, of total operating revenues was allocated from American to US Airways in connection with redemptions by AAdvantage members on US Airways operated flights as well as certain marketing services. 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). For the three and nine months ended September 30, 2015, $389 million and $808 million of total net operating expenses, respectively, was allocated from American to US Airways. There were no material allocations recorded during the three and nine months ended September 30, 2014. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 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 flyer program, pensions, 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 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. On July 9, 2015, the FASB issued ASU 2015-14, which deferred the effective date of this new standard to periods beginning after December 15, 2017 for public entities. Early application is permitted, but not before interim and annual reporting periods beginning after December 15, 2016. 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 to 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 flyer program, pensions, 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 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. On July 9, 2015, the FASB issued ASU 2015-14, which deferred the effective date of this new standard to periods beginning after December 15, 2017 for public entities. Early application is permitted, but not before interim and annual reporting periods beginning after December 15, 2016. 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 to 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 Obligat24
Bankruptcy Settlement Obligations (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Components of Bankruptcy Settlement Obligations | The components of bankruptcy settlement obligations on the condensed consolidated balance sheets are as follows (in millions): September 30, 2015 December 31, 2014 Single-Dip Equity Obligations $ 135 $ 248 Labor-related deemed claim 42 77 Total $ 177 $ 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): September 30, 2015 December 31, 2014 Single-Dip Equity Obligations $ 135 $ 248 Labor-related deemed claim 42 77 Total $ 177 $ 325 |
Special Items (Tables)
Special Items (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Mainline operating special items, net (a) $ 163 $ 221 $ 610 $ 335 (a) The 2015 third quarter mainline operating special items totaled a net charge of $163 million, which principally included $196 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, as well as a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a $66 million credit related to proceeds received from a legal settlement. The 2015 nine month period mainline operating special items totaled a net charge of $610 million, which principally included $633 million of merger integration expenses as described above, a net $99 million charge related to the Company’s new pilot joint collective bargaining agreement and a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a net $75 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations and a $66 million credit related to proceeds received from a legal settlement. The 2014 third quarter mainline operating special items totaled a net charge of $221 million, which principally included $166 million of merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training, as well as $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments. These charges were offset in part by a net $40 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2014 nine month period mainline operating special items totaled a net charge of $335 million, which principally included $530 million of merger integration expenses as described above, $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values and other spare parts asset impairments, as well as $46 million in charges primarily relating to the buyout of certain aircraft leases. These charges were offset in part by a $309 million gain on the sale of Slots at Ronald Reagan Washington National Airport and a net $35 million credit for bankruptcy related items as described above. The following additional amounts are also included in the condensed consolidated statements of operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Regional operating special items, net (a) $ 2 $ 2 $ 20 $ 7 Nonoperating special items, net (b) 21 50 2 101 Income tax special items, net (c) 6 8 22 352 (a) The 2015 and 2014 third quarter and nine month period regional operating special items principally related to merger integration expenses. (b) The 2015 third quarter nonoperating special items totaled a net charge of $21 million, which was primarily due to non-cash write offs of unamortized debt discount and debt issuance costs associated with the purchase and subsequent remarketing of certain special facility revenue bonds. The 2015 nine month period nonoperating special items totaled a net charge of $2 million, which principally included $40 million in charges primarily related to non-cash write offs of unamortized debt discount and debt issuance costs associated with refinancing the Company’s secured term loan facilities, prepayments of certain aircraft financings and the purchase and subsequent remarketing of certain special facility revenue bonds. These charges were offset in part by a $22 million gain associated with the sale of an investment and a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank. The 2014 third quarter nonoperating special items totaled a net charge of $50 million, which was primarily due to early debt extinguishment costs related to the prepayment of American’s 7.50% senior secured notes and other indebtedness. The 2014 nine month period nonoperating special items totaled a net charge of $101 million, which primarily included $54 million of early debt extinguishment costs as described above and $33 million of non-cash interest accretion on the bankruptcy settlement obligations. (c) The 2015 third quarter and nine month period tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 third quarter, the Company recorded a special $8 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 nine month period, the Company sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, the Company recorded a special non-cash tax provision of $330 million in the second quarter of 2014 that reversed the non-cash tax provision which was recorded in other comprehensive income (OCI), a subset of stockholders’ equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of the Company’s fuel hedging contracts. In accordance with GAAP, the Company retained the $330 million tax provision in OCI until the last contract was settled or terminated. In addition, the 2014 nine month period included a special $22 million 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Mainline operating special items, net (a) $ 77 $ 164 $ 350 $ 127 (a) The 2015 third quarter mainline operating special items totaled a net charge of $77 million, which principally included $115 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, as well as a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a $66 million credit related to proceeds received from a legal settlement. The 2015 nine month period mainline operating special items totaled a net charge of $350 million, which principally included $400 million of merger integration expenses as described above, a net $64 million charge related to American’s new pilot joint collective bargaining agreement and a $38 million charge in connection with the dissolution of the Texas Aero Engine Services joint venture. These charges were offset in part by a net $75 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations and a $66 million credit related to proceeds received from a legal settlement. The 2014 third quarter mainline operating special items totaled a net charge of $164 million, which principally included $103 million of merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation, re-branding of aircraft and airport facilities, relocation and training, as well as $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments. These charges were offset in part by a net $40 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2014 nine month period mainline operating special items totaled a net charge of $127 million, which principally included $337 million of merger integration expenses as described above, $99 million in other special charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other spare parts asset impairments, as well as $35 million in charges primarily relating to the buyout of certain aircraft leases. These charges were offset in part by a $305 million gain on the sale of Slots at Ronald Reagan Washington National Airport and a net $57 million credit for bankruptcy related items as described above. The following additional amounts are also included in the condensed consolidated statements of operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Regional operating special items, net (a) $ 1 $ 2 $ 4 $ 4 Nonoperating special items, net (b) 21 48 24 89 Income tax special items, net (c) 6 7 20 349 (a) The 2015 and 2014 third quarter and nine month period regional operating special items principally related to merger integration expenses. (b) The 2015 third quarter nonoperating special items totaled a net charge of $21 million, which was primarily due to non-cash write offs of unamortized debt discount and debt issuance costs associated with the purchase and subsequent remarketing of certain special facility revenue bonds. The 2015 nine month period nonoperating special items totaled a net charge of $24 million, which principally included $41 million in charges primarily related to non-cash write offs of unamortized debt discount and debt issuance costs associated with refinancing American’s secured term loan facilities, prepayments of certain aircraft financings and the purchase and subsequent remarketing of certain special facility revenue bonds. These charges were offset in part by a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank. The 2014 third quarter nonoperating special items totaled a net charge of $48 million, which was primarily due to early debt extinguishment costs related to the prepayment of American’s 7.50% senior secured notes and other indebtedness. The 2014 nine month period nonoperating special items totaled a net charge of $89 million, which primarily included $46 million of early debt extinguishment costs as described above and $29 million of non-cash interest accretion on the bankruptcy settlement obligations. (c) The 2015 third quarter and nine month period tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 third quarter, American recorded a special $7 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. During the 2014 nine month period, American sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, American recorded a special non-cash tax provision of $328 million in the second quarter of 2014 that reversed the non-cash tax provision which was recorded in other comprehensive income (OCI), a subset of stockholder’s equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of American’s fuel hedging contracts. In accordance with GAAP, American retained the $328 million tax provision in OCI until the last contract was settled or terminated. In addition, the 2014 nine month period included a special $21 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic EPS: Net income $ 1,693 $ 942 $ 4,329 $ 2,285 Weighted-average common shares outstanding 661,869 719,067 682,337 721,213 Basic EPS $ 2.56 $ 1.31 $ 6.34 $ 3.17 Diluted EPS: Net income $ 1,693 $ 942 $ 4,329 $ 2,285 Change in fair value of conversion feature on 7.25% convertible senior notes (a) — — — 3 Net income for purposes of computing diluted EPS $ 1,693 $ 942 $ 4,329 $ 2,288 Share computation for diluted earnings per share (in thousands): Weighted-average shares outstanding 661,869 719,067 682,337 721,213 Dilutive effect of stock awards 18,870 16,129 19,423 14,610 Assumed conversion of convertible senior notes — — — 1,277 Weighted average common shares outstanding 680,739 735,196 701,760 737,100 Diluted EPS $ 2.49 $ 1.28 $ 6.17 $ 3.10 The following were excluded from the calculation of diluted EPS (in thousands): Stock options, SARs and RSUs because inclusion would be antidilutive 1,094 248 667 288 (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. For purposes of computing diluted earnings per share under GAAP, the Company was required to adjust the numerator by the change in fair value of the conversion feature from March 12, 2014 to May 15, 2014, which increased GAAP net income by $3 million for the nine months ended September 30, 2014. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Components of Long-Term Debt | Long-term debt and capital lease obligations included in the condensed consolidated balance sheets consisted of (in millions): September 30, 2015 December 31, 2014 Secured 2013 Credit Facilities, variable interest rate of 3.25%, installments through 2020 $ 1,867 $ 1,872 2014 Credit Facilities, variable interest rate of 3.50%, installments through 2021 750 750 2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 980 990 2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 588 594 Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 9.75%, maturing from 2015 to 2027 8,891 7,028 Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.59% to 8.48%, maturing from 2015 to 2027 3,747 2,952 Special facility revenue bonds, fixed interest rates ranging from 2.00% to 8.00%, maturing from 2016 to 2035 1,080 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 940 994 18,843 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 20,593 17,963 Less: Total unamortized debt discount 32 59 Less: Current maturities 1,712 1,708 Long-term debt and capital lease obligations, net of current maturities $ 18,849 $ 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): September 30, 2015 December 31, 2014 Secured 2013 Credit Facilities, variable interest rate of 3.25%, installments through 2020 $ 1,867 $ 1,872 2014 Credit Facilities, variable interest rate of 3.50%, 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 6,283 4,271 Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.63% to 8.10%, maturing from 2015 to 2027 2,355 1,860 Special facility revenue bonds, fixed interest rates ranging from 2.00% to 8.00%, maturing from 2016 to 2035 1,051 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 935 992 13,241 11,249 Unsecured Affiliate unsecured obligations 27 27 27 27 Total long-term debt and capital lease obligations 13,268 11,276 Less: Total unamortized debt discount 16 42 Less: Current maturities 1,212 1,230 Long-term debt and capital lease obligations, net of current maturities $ 12,040 $ 10,004 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2015 Total Level 1 Level 2 Level 3 Short-term investments (1), (2) Money market funds $ 1,486 $ 1,486 $ — $ — Repurchase agreements 41 — 41 — Corporate obligations 3,491 — 3,491 — Bank notes / certificates of deposit / time deposits 2,839 — 2,839 — 7,857 1,486 6,371 — Restricted cash and short-term investments (1) 710 710 — — Total $ 8,567 $ 2,196 $ 6,371 $ — (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) All short-term investments are classified as available-for-sale and stated at fair value. In addition, all short-term investments mature in one year or less except for $788 million of corporate obligations and $1.6 billion 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): September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 20,561 $ 20,971 $ 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 September 30, 2015 Total Level 1 Level 2 Level 3 Short-term investments (1), (2) Money market funds $ 1,419 $ 1,419 $ — $ — Repurchase agreements 41 — 41 — Corporate obligations 1,977 — 1,977 — Bank notes / certificates of deposit / time deposits 1,968 — 1,968 — 5,405 1,419 3,986 — Restricted cash and short-term investments (1) 657 657 — — Total $ 6,062 $ 2,076 $ 3,986 $ — (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) All short-term investments are classified as available-for-sale and stated at fair value. In addition, all short-term investments mature in one year or less except for $375 million of corporate obligations and $1.3 billion 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): September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current maturities $ 13,252 $ 13,461 $ 11,234 $ 11,618 |
Retirement Benefits (Tables)
Retirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2015 2014 2015 2014 Service cost $ 1 $ 1 $ 1 $ — Interest cost 184 186 13 15 Expected return on assets (213 ) (197 ) (5 ) (5 ) Settlements — 1 — — Amortization of: Prior service cost (benefit) (1) 7 7 (60 ) (55 ) Unrecognized net loss (gain) 28 12 (2 ) (2 ) Net periodic benefit cost (income) $ 7 $ 10 $ (53 ) $ (47 ) (1) The 2015 third quarter prior service cost does not include amortization of $1 million related to other post-employment benefits. Pension Benefits Retiree Medical and Other Benefits Nine Months Ended September 30, 2015 2014 2015 2014 Service cost $ 2 $ 3 $ 3 $ 1 Interest cost 552 557 38 46 Expected return on assets (639 ) (589 ) (15 ) (15 ) Settlements 1 4 — — Amortization of: Prior service cost (benefit) (1) 21 21 (182 ) (175 ) Unrecognized net loss (gain) 84 35 (5 ) (6 ) Net periodic benefit cost (income) $ 21 $ 31 $ (161 ) $ (149 ) (1) The 2015 nine month period prior service cost does not include amortization of $2 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 September 30, 2015 2014 2015 2014 Service cost $ — $ 1 $ — $ — Interest cost 183 185 11 14 Expected return on assets (212 ) (196 ) (5 ) (5 ) Settlements — 1 — — Amortization of: Prior service cost (benefit) 7 7 (59 ) (54 ) Unrecognized net loss (gain) 28 12 (2 ) (2 ) Net periodic benefit cost (income) $ 6 $ 10 $ (55 ) $ (47 ) Pension Benefits Retiree Medical and Other Benefits Nine Months Ended September 30, 2015 2014 2015 2014 Service cost $ 1 $ 2 $ 1 $ — Interest cost 550 554 34 42 Expected return on assets (636 ) (587 ) (15 ) (15 ) Settlements 1 4 — — Amortization of: Prior service cost (benefit) (1) 21 21 (178 ) (172 ) Unrecognized net loss (gain) 84 35 (6 ) (6 ) Net periodic benefit cost (income) $ 21 $ 29 $ (164 ) $ (151 ) (1) The 2015 nine month period prior service cost does not include amortization of $2 million related to other post-employment benefits. |
Accumulated Other Comprehensi30
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Components of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income (loss) (AOCI) are as follows (in millions): Pension and Liability Derivative Instruments Unrealized Income Tax (Expense) Total Balance at December 31, 2014 $ (3,683 ) $ 9 $ (5 ) $ (880 ) $ (4,559 ) Other comprehensive income (loss) before reclassifications — — (5 ) — (5 ) Amounts reclassified from accumulated other comprehensive income (loss) (79 ) (9 ) 1 — (87 ) Net current period other comprehensive income (loss) (79 ) (9 ) (4 ) — (92 ) Balance at September 30, 2015 $ (3,762 ) $ — $ (9 ) $ (880 ) $ (4,651 ) |
Reclassification out of AOCI | Reclassifications out of AOCI for the three and nine months ended September 30, 2015 and 2014 are as follows (in millions): Amounts reclassified from AOCI AOCI Components Three Months Ended Nine Months Ended Affected line items on condensed consolidated statement of operations 2015 2014 2015 2014 Amortization of pension and retiree medical liability: Prior service cost $ (52 ) $ (48 ) $ (159 ) $ (154 ) Salaries, wages and benefits Actuarial loss 26 10 80 29 Salaries, wages and benefits Derivative financial instruments: Cash flow hedges — (7 ) (9 ) 5 Aircraft fuel and related taxes Net unrealized change on investments: Net change in value — (2 ) 1 — Other nonoperating, net Income tax benefit: Reversal of non-cash tax provision — — — 330 Income tax provision Total reclassifications for the period $ (26 ) $ (47 ) $ (87 ) $ 210 |
American Airlines, Inc. [Member] | |
Components of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income (loss) (AOCI) are as follows (in millions): Pension and Liability Derivative Instruments Unrealized Income Tax (Expense) Total Balance at December 31, 2014 $ (3,660 ) $ 9 $ (3 ) $ (991 ) $ (4,645 ) Other comprehensive income (loss) before reclassifications — — (4 ) — (4 ) Amounts reclassified from accumulated other comprehensive income (loss) (76 ) (9 ) — — (85 ) Net current period other comprehensive income (loss) (76 ) (9 ) (4 ) — (89 ) Balance at September 30, 2015 $ (3,736 ) $ — $ (7 ) $ (991 ) $ (4,734 ) |
Reclassification out of AOCI | Reclassifications out of AOCI for the three and nine months ended September 30, 2015 and 2014 are as follows (in millions): Amounts reclassified from AOCI AOCI Components Three Months Ended Nine Months Ended Affected line items on condensed 2015 2014 2015 2014 Amortization of pension and retiree medical liability: Prior service cost $ (52 ) $ (47 ) $ (155 ) $ (151 ) Salaries, wages and benefits Actuarial loss 26 10 79 29 Salaries, wages and benefits Derivative financial instruments: Cash flow hedges — (7 ) (9 ) 5 Aircraft fuel and related taxes Net unrealized change on investments: Net change in value — (2 ) — (2 ) Other nonoperating, net Income tax benefit: Reversal of non-cash tax provision — — — 328 Income tax provision Total reclassifications for the period $ (26 ) $ (46 ) $ (85 ) $ 209 |
Regional Expenses (Tables)
Regional Expenses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Components of Regional Expenses | Regional expenses consist of the following (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Aircraft fuel and related taxes $ 310 $ 538 $ 970 $ 1,573 Salaries, wages and benefits 296 283 881 850 Capacity purchases from third-party regional carriers 399 380 1,172 1,102 Maintenance, materials and repairs 78 94 241 263 Other rent and landing fees 126 109 354 311 Aircraft rent 8 9 25 26 Selling expenses 87 79 252 238 Depreciation and amortization 62 52 181 156 Special items, net 2 2 20 7 Other 150 122 440 393 Total regional expenses $ 1,518 $ 1,668 $ 4,536 $ 4,919 |
American Airlines, Inc. [Member] | |
Components of Regional Expenses | Regional expenses consist of the following (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Aircraft fuel and related taxes $ 166 $ 264 $ 510 $ 787 Salaries, wages and benefits 36 25 100 71 Capacity purchases from third-party regional carriers 371 327 1,067 970 Other rent and landing fees 77 61 212 177 Selling expenses 44 40 122 116 Depreciation and amortization 47 36 134 110 Special items, net 1 2 4 4 Other 61 35 169 117 Total regional expenses $ 803 $ 790 $ 2,318 $ 2,352 |
Financial Information for Sub32
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 4,927 $ — $ 2,727 $ — $ — $ 7,654 Regional passenger — 858 — 841 — — 1,699 Cargo — 150 — 30 — — 180 Other — 847 — 353 625 (652 ) 1,173 Total operating revenues — 6,782 — 3,951 625 (652 ) 10,706 Operating expenses: Aircraft fuel and related taxes — 1,065 — 528 — — 1,593 Salaries, wages and benefits — 1,563 — 839 193 (191 ) 2,404 Regional expenses — 803 — 738 — (23 ) 1,518 Maintenance, materials and repairs — 261 — 195 78 (78 ) 456 Other rent and landing fees — 286 — 146 11 (11 ) 432 Aircraft rent — 225 — 83 40 (40 ) 308 Selling expenses — 256 — 110 — — 366 Depreciation and amortization — 245 — 92 10 (11 ) 336 Special items, net — 77 — 86 — — 163 Other 1 790 — 343 295 (298 ) 1,131 Total operating expenses 1 5,571 — 3,160 627 (652 ) 8,707 Operating income (loss) (1 ) 1,211 — 791 (2 ) — 1,999 Nonoperating income (expense): Interest income 1 10 — 3 3 (7 ) 10 Interest expense, net (17 ) (133 ) (9 ) (64 ) (3 ) 7 (219 ) Equity in earnings of subsidiaries 1,710 — 465 — — (2,175 ) — Other, net — (83 ) — 2 — — (81 ) Total nonoperating income (expense), net 1,694 (206 ) 456 (59 ) — (2,175 ) (290 ) Income (loss) before income taxes 1,693 1,005 456 732 (2 ) (2,175 ) 1,709 Income tax provision — 9 — 278 — (271 ) 16 Net income (loss) $ 1,693 $ 996 $ 456 $ 454 $ (2 ) $ (1,904 ) $ 1,693 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (In millions)(Unaudited) Nine Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 14,565 $ — $ 7,733 $ — $ — $ 22,298 Regional passenger — 2,399 — 2,511 — — 4,910 Cargo — 472 — 96 — — 568 Other — 2,533 — 1,114 2,112 (2,175 ) 3,584 Total operating revenues — 19,969 — 11,454 2,112 (2,175 ) 31,360 Operating expenses: Aircraft fuel and related taxes — 3,332 — 1,580 — — 4,912 Salaries, wages and benefits — 4,684 — 2,450 584 (577 ) 7,141 Regional expenses — 2,318 — 2,296 — (78 ) 4,536 Maintenance, materials and repairs — 868 — 584 239 (239 ) 1,452 Other rent and landing fees — 825 — 465 32 (32 ) 1,290 Aircraft rent — 676 — 265 108 (108 ) 941 Selling expenses — 688 — 363 — — 1,051 Depreciation and amortization — 728 — 285 33 (33 ) 1,013 Special items, net — 350 — 260 4 (4 ) 610 Other 2 2,323 — 958 1,099 (1,104 ) 3,278 Total operating expenses 2 16,792 — 9,506 2,099 (2,175 ) 26,224 Operating income (loss) (2 ) 3,177 — 1,948 13 — 5,136 Nonoperating income (expense): Interest income 2 26 1 10 6 (16 ) 29 Interest expense, net (47 ) (396 ) (27 ) (191 ) (6 ) 16 (651 ) Equity in earnings of subsidiaries 4,354 — 1,135 — — (5,489 ) — Other, net 22 (162 ) — (4 ) 1 — (143 ) Total nonoperating income (expense), net 4,331 (532 ) 1,109 (185 ) 1 (5,489 ) (765 ) Income before income taxes 4,329 2,645 1,109 1,763 14 (5,489 ) 4,371 Income tax provision — 28 — 656 8 (650 ) 42 Net income $ 4,329 $ 2,617 $ 1,109 $ 1,107 $ 6 $ (4,839 ) $ 4,329 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (In millions)(Unaudited) Three Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 5,321 $ — $ 2,772 $ — $ — $ 8,093 Regional passenger — 748 — 917 — — 1,665 Cargo — 175 — 40 — — 215 Other — 811 — 385 898 (928 ) 1,166 Total operating revenues — 7,055 — 4,114 898 (928 ) 11,139 Operating expenses: Aircraft fuel and related taxes — 1,894 — 935 — — 2,829 Salaries, wages and benefits — 1,412 — 723 193 (191 ) 2,137 Regional expenses — 790 — 886 — (8 ) 1,668 Maintenance, materials and repairs — 353 — 176 93 (93 ) 529 Other rent and landing fees — 279 — 152 8 (8 ) 431 Aircraft rent — 211 — 95 24 (24 ) 306 Selling expenses — 278 — 115 — — 393 Depreciation and amortization — 230 — 105 10 (11 ) 334 Special items, net — 164 — 57 — — 221 Other — 746 — 304 574 (593 ) 1,031 Total operating expenses — 6,357 — 3,548 902 (928 ) 9,879 Operating income (loss) — 698 — 566 (4 ) — 1,260 Nonoperating income (expense): Interest income 2 5 1 5 — (6 ) 7 Interest expense, net — (136 ) (11 ) (68 ) (1 ) 6 (210 ) Equity in earnings of subsidiaries 940 — 476 — — (1,416 ) — Other, net — (97 ) — (12 ) 1 — (108 ) Total nonoperating income (expense), net 942 (228 ) 466 (75 ) — (1,416 ) (311 ) Income (loss) before income taxes 942 470 466 491 (4 ) (1,416 ) 949 Income tax provision — 5 — 2 7 (7 ) 7 Net income (loss) $ 942 $ 465 $ 466 $ 489 $ (11 ) $ (1,409 ) $ 942 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS (In millions)(Unaudited) Nine Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Operating revenues: Mainline passenger $ — $ 15,579 $ — $ 7,985 $ — $ — $ 23,564 Regional passenger — 2,202 — 2,577 — — 4,779 Cargo — 521 — 122 — — 643 Other — 2,374 — 1,211 2,386 (2,467 ) 3,504 Total operating revenues — 20,676 — 11,895 2,386 (2,467 ) 32,490 Operating expenses: Aircraft fuel and related taxes — 5,662 — 2,708 — — 8,370 Salaries, wages and benefits — 4,251 — 2,162 584 (578 ) 6,419 Regional expenses — 2,352 — 2,581 — (14 ) 4,919 Maintenance, materials and repairs — 1,031 — 497 258 (258 ) 1,528 Other rent and landing fees — 853 — 444 23 (23 ) 1,297 Aircraft rent — 641 — 300 67 (71 ) 937 Selling expenses — 844 — 352 — — 1,196 Depreciation and amortization — 664 — 301 30 (35 ) 960 Special items, net 22 127 — 186 3 (3 ) 335 Other 5 2,258 1 930 1,430 (1,484 ) 3,140 Total operating expenses 27 18,683 1 10,461 2,395 (2,466 ) 29,101 Operating income (loss) (27 ) 1,993 (1 ) 1,434 (9 ) (1 ) 3,389 Nonoperating income (expense): Interest income 7 18 2 8 1 (14 ) 22 Interest expense, net (4 ) (443 ) (31 ) (201 ) (2 ) 14 (667 ) Equity in earnings of subsidiaries 2,309 — 1,188 — — (3,497 ) — Other, net — (85 ) (53 ) (16 ) 2 53 (99 ) Total nonoperating income (expense), net 2,312 (510 ) 1,106 (209 ) 1 (3,444 ) (744 ) Income (loss) before income taxes 2,285 1,483 1,105 1,225 (8 ) (3,445 ) 2,645 Income tax provision — 351 — 4 14 (9 ) 360 Net income (loss) $ 2,285 $ 1,132 $ 1,105 $ 1,221 $ (22 ) $ (3,436 ) $ 2,285 |
Condensed Consolidating Statement of Comprehensive Income (Loss) | AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Three Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income (loss) $ 1,693 $ 996 $ 456 $ 454 $ (2 ) $ (1,904 ) $ 1,693 Other comprehensive income (loss): Defined benefit pension plans and retiree medical — (26 ) — — — — (26 ) Unrealized loss on investments: Net change in value — (3 ) — (1 ) — — (4 ) Total other comprehensive income (loss) — (29 ) — (1 ) — — (30 ) Total comprehensive income (loss) $ 1,693 $ 967 $ 456 $ 453 $ (2 ) $ (1,904 ) $ 1,663 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (In millions)(Unaudited) Nine Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income $ 4,329 $ 2,617 $ 1,109 $ 1,107 $ 6 $ (4,839 ) $ 4,329 Other comprehensive income (loss): Defined benefit pension plans and retiree medical — (76 ) — (3 ) — — (79 ) Derivative financial instruments: Reclassification into earnings — (9 ) — — — — (9 ) Unrealized gain on investments: Net change in value — (4 ) — — — — (4 ) Total other comprehensive income (loss) — (89 ) — (3 ) — — (92 ) Total comprehensive income $ 4,329 $ 2,528 $ 1,109 $ 1,104 $ 6 $ (4,839 ) $ 4,237 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Three Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income (loss) $ 942 $ 465 $ 466 $ 489 $ (11 ) $ (1,409 ) $ 942 Other comprehensive loss: Defined benefit pension plans and retiree medical — (37 ) — (1 ) — — (38 ) Derivative financial instruments: Reclassification into earnings — (7 ) — — — — (7 ) Unrealized loss on investments: Net change in value — (2 ) — — — — (2 ) Total other comprehensive loss — (46 ) — (1 ) — — (47 ) Total comprehensive income (loss) $ 942 $ 419 $ 466 $ 488 $ (11 ) $ (1,409 ) $ 895 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Nine Months Ended September 30, 2014 American Only) American US Airways (Parent Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net income (loss) $ 2,285 $ 1,132 $ 1,105 $ 1,221 $ (22 ) $ (3,436 ) $ 2,285 Other comprehensive income (loss): Defined benefit pension plans and retiree medical — (139 ) — (3 ) — — (142 ) Derivative financial instruments: Change in fair value (2 ) (52 ) — — — — (54 ) Reclassification into earnings — 5 — — — — 5 Unrealized loss on investments: Net change in value 2 (2 ) — — — — — Reversal of non-cash tax provision 2 328 — — — — 330 Total other comprehensive income (loss) 2 140 — (3 ) — — 139 Total comprehensive income (loss) $ 2,287 $ 1,272 $ 1,105 $ 1,218 $ (22 ) $ (3,436 ) $ 2,424 |
Condensed Consolidating Balance Sheet | AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING BALANCE SHEET (In millions)(Unaudited) September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated ASSETS Current assets Cash $ 1 $ 806 $ 19 $ 181 $ 9 $ — $ 1,016 Short-term investments — 5,405 — 2,449 3 — 7,857 Restricted cash and short-term investments — 657 — 53 — — 710 Accounts receivable, net — 1,490 — 336 14 (12 ) 1,828 Receivables from related parties, net 65 — — 1,024 112 (1,201 ) — Aircraft fuel, spare parts and supplies, net — 632 — 320 58 — 1,010 Prepaid expenses and other 82 795 — 367 41 — 1,285 Total current assets 148 9,785 19 4,730 237 (1,213 ) 13,706 Operating property and equipment — 19,200 — 6,813 279 — 26,292 Other assets Investments in subsidiaries 5,143 — 8,080 — — (13,223 ) — Goodwill — — — 4,090 — 1 4,091 Intangibles, net of accumulated amortization — 871 — 1,390 — — 2,261 Other assets 27 1,826 — 489 55 (32 ) 2,365 Total other assets 5,170 2,697 8,080 5,969 55 (13,254 ) 8,717 Total assets $ 5,318 $ 31,682 $ 8,099 $ 17,512 $ 571 $ (14,467 ) $ 48,715 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Current liabilities Current maturities of long-term debt and capital leases $ — $ 1,212 $ — $ 500 $ — $ — $ 1,712 Accounts payable — 1,269 — 213 45 (2 ) 1,525 Payables to related parties, net — 565 511 — 125 (1,201 ) — Air traffic liability — 4,373 — 438 — — 4,811 Frequent flyer liability — 2,649 — — — — 2,649 Other accrued liabilities 186 2,043 11 1,114 109 1 3,464 Total current liabilities 186 12,111 522 2,265 279 (1,202 ) 14,161 Noncurrent liabilities Long-term debt and capital leases, net of current maturities 1,257 12,040 525 5,062 — (35 ) 18,849 Pension and postretirement benefits — 7,270 — 123 40 — 7,433 Bankruptcy settlement obligations — 177 — — — — 177 Other liabilities 113 2,927 — 2,057 49 (813 ) 4,333 Total noncurrent liabilities 1,370 22,414 525 7,242 89 (848 ) 30,792 Stockholders’ equity (deficit) Common stock 6 — — — — — 6 Additional paid-in capital 12,852 10,833 4,779 5,618 199 (21,429 ) 12,852 Accumulated other comprehensive loss (4,651 ) (4,734 ) (19 ) (12 ) (12 ) 4,777 (4,651 ) Retained earnings (deficit) (4,445 ) (8,942 ) 2,292 2,399 16 4,235 (4,445 ) Total stockholders’ equity (deficit) 3,762 (2,843 ) 7,052 8,005 203 (12,417 ) 3,762 Total liabilities and stockholders’ equity (deficit) $ 5,318 $ 31,682 $ 8,099 $ 17,512 $ 571 $ (14,467 ) $ 48,715 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING BALANCE SHEET (In millions)(Unaudited) December 31, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated 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) Nine Months Ended September 30, 2015 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net cash provided by operating activities $ 2,073 $ 4,093 $ 17 $ (216 ) $ 54 $ — $ 6,021 Cash flows from investing activities: Capital expenditures and aircraft purchase deposits — (3,962 ) — (602 ) (57 ) — (4,621 ) Purchases of short-term investments (1 ) (5,061 ) — (2,655 ) — — (7,717 ) Sales of short-term investments — 2,944 — 3,223 — — 6,167 Decrease in restricted cash and short-term investments — (7 ) — 71 — — 64 Proceeds from sale of an investment 52 — — — — — 52 Proceeds from sale of property and equipment — 18 — — 5 — 23 Net cash provided by (used in) investing activities 51 (6,068 ) — 37 (52 ) — (6,032 ) Cash flows from financing activities: Payments on long-term debt and capital leases — (1,544 ) — (277 ) — — (1,821 ) Proceeds from issuance of long-term debt 500 3,554 — 409 — — 4,463 Deferred financing costs (7 ) (57 ) — (5 ) — — (69 ) Sale-leaseback transactions — 43 — — — — 43 Treasury stock repurchases (2,411 ) — — — — — (2,411 ) Dividend payment (206 ) — — — — — (206 ) Other financing activities — — — 34 — — 34 Net cash provided by (used in) financing activities (2,124 ) 1,996 — 161 — — 33 Net increase (decrease) in cash — 21 17 (18 ) 2 — 22 Cash at beginning of period 1 785 2 199 7 — 994 Cash at end of period $ 1 $ 806 $ 19 $ 181 $ 9 $ — $ 1,016 AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (In millions)(Unaudited) Nine Months Ended September 30, 2014 American Only) American US Airways Only) US Airways Non-Guarantor Subsidiaries Eliminations and Reclassifications American Group Inc. Consolidated Net cash provided by (used in) operating activities $ (523 ) $ 2,034 $ — $ 730 $ 35 $ — $ 2,276 Cash flows from investing activities: Capital expenditures and aircraft purchase deposits — (2,746 ) — (1,027 ) (35 ) (198 ) (4,006 ) Purchases of short-term investments — (2,526 ) — (1,076 ) (1 ) — (3,603 ) Sales of short-term investments — 3,889 — 1,104 — — 4,993 Decrease in restricted cash and short-term investments — 50 — 110 — — 160 Net proceeds from slot transaction — 299 — 8 — — 307 Funds transferred to affiliates — (198 ) — — — 198 — Proceeds from sale of property and equipment — 5 — 19 — — 24 Net cash used in investing activities — (1,227 ) — (862 ) (36 ) — (2,125 ) Cash flows from financing activities: Payments on long-term debt and capital leases — (2,201 ) — (403 ) — (176 ) (2,780 ) Proceeds from issuance of long-term debt 750 1,098 — 559 — — 2,407 Deferred financing costs (10 ) (56 ) — (2 ) — — (68 ) Sale-leaseback transactions — 531 — — — — 531 Exercise of stock options 9 — — — — — 9 Treasury stock repurchases (155 ) — — — — — (155 ) Dividend payment (72 ) — — — — — (72 ) Funds transferred to affiliates, net — — — (176 ) — 176 — Other financing activities — — — 15 — — 15 Net cash provided by (used in) financing activities 522 (628 ) — (7 ) — — (113 ) Net increase (decrease) in cash (1 ) 179 — (139 ) (1 ) — 38 Cash at beginning of period 1 829 1 303 6 — 1,140 Cash at end of period $ — $ 1,008 $ 1 $ 164 $ 5 $ — $ 1,178 |
Transactions with Related Par33
Transactions with Related Parties (Tables) | 9 Months Ended |
Sep. 30, 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): September 30, 2015 December 31, 2014 American Airlines Group Parent $ (1,994 ) $ 40 US Airways Group, Inc. 476 320 Envoy Aviation Group (1) 2,083 2,203 Total $ 565 $ 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 and34
Emergence from Chapter 11 and Merger with US Airways Group - Additional Information (Detail) $ / shares in Units, $ in Millions | Jul. 14, 2015USD ($)shares | Feb. 10, 2015USD ($)shares | Dec. 09, 2013USD ($)$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares |
Bankruptcy [Line Items] | ||||||
Common stock, par value | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | |||
Common stock, shares authorized | 1,750,000,000 | 1,750,000,000 | 1,750,000,000 | |||
Common stock, shares issued | 640,107,543 | 640,107,543 | 697,474,535 | |||
Single-Dip General Unsecured Claims | $ | $ 2,500 | $ 135 | $ 135 | $ 248 | ||
Double-Dip General Unsecured Claims | $ | $ 2,500 | |||||
Shares released from restriction and issued | 600,000 | 800,000 | ||||
Merger common stock conversion ratio | 1 | |||||
Federal NOL carryforwards, maximum allowable utilization | $ | $ 9,000 | |||||
Series A Convertible Preferred Stock [Member] | ||||||
Bankruptcy [Line Items] | ||||||
Preferred stock, shares issued | 168,000,000 | |||||
Preferred stock, par or stated value per share | $ / shares | $ 0.01 | |||||
American Airlines, Inc. [Member] | ||||||
Bankruptcy [Line Items] | ||||||
Common stock, par value | $ / shares | $ 0.01 | $ 1 | $ 1 | $ 1 | ||
Common stock, shares authorized | 1,000 | 1,000 | 1,000 | |||
Common stock, shares issued | 53,000,000 | 1,000 | 1,000 | 1,000 | ||
Single-Dip General Unsecured Claims | $ | $ 2,500 | $ 135 | $ 135 | $ 248 | ||
Double-Dip General Unsecured Claims | $ | 2,500 | |||||
Shares released from restriction and issued | 600,000 | 800,000 | ||||
Federal NOL carryforwards, maximum allowable utilization | $ | $ 9,500 | |||||
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 | $ / shares | $ 0.01 | |||||
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 | 30,400,000 | 25,300,000 | 25,300,000 | 26,800,000 | ||
Shares released from restriction and issued | 600,000 | 800,000 | ||||
Stock repurchased (in shares) | 100,000 | 100,000 | 38,400,000 | 59,500,000 | ||
Aggregate stock repurchase price | $ | $ 2 | $ 4 | $ 1,600 | $ 2,500 | ||
Common Stock [Member] | American Airlines, Inc. [Member] | ||||||
Bankruptcy [Line Items] | ||||||
Shares reserved for future issuance | 30,400,000 | 25,300,000 | 25,300,000 | 26,800,000 | ||
Shares released from restriction and issued | 600,000 | 800,000 | ||||
Stock repurchased (in shares) | 100,000 | 100,000 | ||||
Aggregate stock repurchase price | $ | $ 2 | $ 4 | ||||
American Airlines Group [Member] | ||||||
Bankruptcy [Line Items] | ||||||
Common stock, par value | $ / shares | $ 0.01 | |||||
Common stock, shares authorized | 544,000,000 | 544,000,000 | ||||
Common stock, shares issued | 53,000,000 | |||||
Distributions made to holders | 0.0665 | 0.6776 | ||||
Percentage of common stock to holders of US Airways Group equity instruments | 28.00% | 28.00% | ||||
Percentage of common stock to AMR claimholders and certain employees | 72.00% | 72.00% | ||||
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 Obligat35
Bankruptcy Settlement Obligations - Components of Bankruptcy Settlement Obligations (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 09, 2013 |
Bankruptcy Settlement Obligations [Line Items] | |||
Single-dip equity obligations | $ 135 | $ 248 | $ 2,500 |
Labor-related deemed claim | 42 | 77 | |
Total | 177 | 325 | |
American Airlines, Inc. [Member] | |||
Bankruptcy Settlement Obligations [Line Items] | |||
Single-dip equity obligations | 135 | 248 | $ 2,500 |
Labor-related deemed claim | 42 | 77 | |
Total | $ 177 | $ 325 |
Bankruptcy Settlement Obligat36
Bankruptcy Settlement Obligations - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2014 | Jul. 14, 2015 | Feb. 10, 2015 | Dec. 09, 2013 | |
Bankruptcy Settlement Obligations [Line Items] | |||||
Single-dip equity obligations | $ 135,000,000 | $ 248,000,000 | $ 2,500,000,000 | ||
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 | 42,000,000 | 77,000,000 | |||
Shares released from restriction and issued | 600,000 | 800,000 | |||
Common stock shares withheld or sold related to tax obligations | 100,000 | ||||
American Airlines, Inc. [Member] | |||||
Bankruptcy Settlement Obligations [Line Items] | |||||
Single-dip equity obligations | $ 135,000,000 | 248,000,000 | $ 2,500,000,000 | ||
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 | $ 42,000,000 | $ 77,000,000 | |||
Shares released from restriction and issued | 600,000 | 800,000 | |||
Common stock shares withheld or sold related to tax obligations | 100,000 |
Special Items - Components of S
Special Items - Components of Special Items, Net Included in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Restructuring Cost and Reserve [Line Items] | ||||
Mainline operating special items, net | $ 163 | $ 221 | $ 610 | $ 335 |
Nonoperating special items, net | 21 | 50 | 2 | 101 |
Income tax special items, net | 6 | 8 | 22 | 352 |
Regional Operating Special Items, Net [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Mainline operating special items, net | 2 | 2 | 20 | 7 |
American Airlines, Inc. [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Mainline operating special items, net | 77 | 164 | 350 | 127 |
Nonoperating special items, net | 21 | 48 | 24 | 89 |
Income tax special items, net | 6 | 7 | 20 | 349 |
American Airlines, Inc. [Member] | Regional Operating Special Items, Net [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Mainline operating special items, net | $ 1 | $ 2 | $ 4 | $ 4 |
Special Items - Components of38
Special Items - Components of Special Items, Net Included in Condensed Consolidated Statements of Operations (Parenthetical) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Restructuring Cost and Reserve [Line Items] | |||||
Mainline operating special items, net | $ 163 | $ 221 | $ 610 | $ 335 | |
Integration related costs | 196 | 166 | 633 | 530 | |
Proceeds received from legal settlement | 66 | 66 | |||
Net contract charges | 99 | ||||
Fair value adjustments for bankruptcy settlement obligations | 40 | 75 | 35 | ||
Gain related to sale of DCA slots | 309 | ||||
Other special charges | 99 | 99 | |||
Revision of prior estimates aircraft residual values and other asset impairments | 81 | 81 | |||
Equipment lease buyout charges | 46 | ||||
Nonoperating special items, net | 21 | 50 | 2 | 101 | |
Gain on sale of investment | 22 | ||||
Early debt extinguishment gain (cost) | (54) | ||||
Non-cash interest accretion, bankruptcy settlement obligations | 33 | ||||
Non-cash deferred income tax provision | 6 | 8 | 22 | 22 | |
Secured Debt Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Write off of unamortized debt discount and debt issuance costs | 40 | ||||
Fuel Hedging Contracts [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Non-cash tax provision on sale of fuel hedging contracts | 330 | ||||
Texas Aero Engine Services Joint Venture [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Charge in connection with dissolution of business | 38 | 38 | |||
American Airlines, Inc. [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Mainline operating special items, net | 77 | 164 | 350 | 127 | |
Integration related costs | 115 | 103 | 400 | 337 | |
Proceeds received from legal settlement | 66 | 66 | |||
Net contract charges | 64 | ||||
Fair value adjustments for bankruptcy settlement obligations | 40 | 75 | 57 | ||
Gain related to sale of DCA slots | 305 | ||||
Other special charges | 99 | 99 | |||
Revision of prior estimates aircraft residual values and other asset impairments | 81 | 81 | |||
Equipment lease buyout charges | 35 | ||||
Nonoperating special items, net | 21 | 48 | 24 | 89 | |
Early debt extinguishment gain (cost) | (46) | ||||
Non-cash interest accretion, bankruptcy settlement obligations | 29 | ||||
Non-cash deferred income tax provision | 6 | $ 7 | 20 | 21 | |
American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Write off of unamortized debt discount and debt issuance costs | 41 | ||||
American Airlines, Inc. [Member] | Fuel Hedging Contracts [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Non-cash tax provision on sale of fuel hedging contracts | $ 328 | ||||
American Airlines, Inc. [Member] | Texas Aero Engine Services Joint Venture [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Charge in connection with dissolution of business | $ 38 | 38 | |||
AAdvantage Loan [Member] | Secured Debt Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Early debt extinguishment gain (cost) | $ 17 | 17 | |||
AAdvantage Loan [Member] | American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Early debt extinguishment gain (cost) | $ 17 | $ 17 |
Earnings per Share - Computatio
Earnings per Share - Computation of Basic and Diluted Earnings per Share (EPS) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic EPS: | ||||
Net income | $ 1,693 | $ 942 | $ 4,329 | $ 2,285 |
Weighted-average common shares outstanding | 661,869 | 719,067 | 682,337 | 721,213 |
Basic EPS | $ 2.56 | $ 1.31 | $ 6.34 | $ 3.17 |
Diluted EPS: | ||||
Net income | $ 1,693 | $ 942 | $ 4,329 | $ 2,285 |
Change in fair value of conversion feature on 7.25% convertible senior notes | 3 | |||
Net income for purposes of computing diluted EPS | $ 1,693 | $ 942 | $ 4,329 | $ 2,288 |
Share computation for diluted earnings per share (in thousands): | ||||
Weighted-average shares outstanding | 661,869 | 719,067 | 682,337 | 721,213 |
Dilutive effect of stock awards | 18,870 | 16,129 | 19,423 | 14,610 |
Assumed conversion of convertible senior notes | 1,277 | |||
Weighted average common shares outstanding | 680,739 | 735,196 | 701,760 | 737,100 |
Diluted EPS | $ 2.49 | $ 1.28 | $ 6.17 | $ 3.10 |
Stock options, SARs and RSUs because inclusion would be antidilutive | 1,094 | 248 | 667 | 288 |
Earnings per Share - Computat40
Earnings per Share - Computation of Basic and Diluted Earnings per Share (EPS) (Parenthetical) (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2014 | Mar. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Change in net income for purposes of computing diluted earnings per share | $ 3 | |
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% | 7.25% |
Share Repurchase Program and 41
Share Repurchase Program and Dividend - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions | Jul. 14, 2015 | Feb. 10, 2015 | Jan. 27, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 |
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Stock repurchase program, authorized amount | $ 2,000,000,000 | $ 2,000,000,000 | ||||||||
Share repurchase program completion date | Sep. 30, 2015 | Dec. 31, 2016 | ||||||||
Cash dividends declared per common share | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.30 | $ 0.10 | |||
Dividends payable, record date | Aug. 10, 2015 | May 4, 2015 | Feb. 9, 2015 | |||||||
Dividends payable, payable date | Aug. 24, 2015 | May 18, 2015 | Feb. 23, 2015 | |||||||
Total cash payment for dividends | $ 67,000,000 | $ 206,000,000 | ||||||||
Common Stock [Member] | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Stock repurchased (in shares) | 0.1 | 0.1 | 38.4 | 59.5 | ||||||
Aggregate stock repurchase price | $ 2,000,000 | $ 4,000,000 | $ 1,600,000,000 | $ 2,500,000,000 | ||||||
Average cost per share | $ 40.56 | $ 42 |
Debt - Components of Long-Term
Debt - Components of Long-Term Debt (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | $ 20,593 | $ 17,963 |
Less: Total unamortized debt discount | 32 | 59 |
Less: Current maturities | 1,712 | 1,708 |
Long-term debt and capital lease obligations, net of current maturities | 18,849 | 16,196 |
Secured Debt Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 18,843 | 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 | 980 | 990 |
Secured Debt Member] | Credit Facility, Tranche B-2, Citicorp 2013 [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 588 | 594 |
Secured Debt Member] | Enhanced Equipment Trust Certificates [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 8,891 | 7,028 |
Secured Debt Member] | Equipment Loans and Other Notes Payable [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 3,747 | 2,952 |
Secured Debt Member] | Special Facility Revenue Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 1,080 | 1,100 |
Secured Debt Member] | AAdvantage Loan [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 433 | |
Secured Debt Member] | Other Secured Obligations, Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 940 | 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 | 13,268 | 11,276 |
Less: Total unamortized debt discount | 16 | 42 |
Less: Current maturities | 1,212 | 1,230 |
Long-term debt and capital lease obligations, net of current maturities | 12,040 | 10,004 |
American Airlines, Inc. [Member] | Secured Debt Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 13,241 | 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 | 6,283 | 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 | 2,355 | 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 | 1,051 | 1,071 |
American Airlines, Inc. [Member] | Secured Debt Member] | AAdvantage Loan [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital lease obligations | 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 | 935 | 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 Long-Ter43
Debt - Components of Long-Term Debt (Parenthetical) (Detail) | 9 Months Ended | ||||
Sep. 30, 2015 | Aug. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
2013 Credit Facilities [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2,020 | ||||
Interest rate at end of period | 3.25% | ||||
2013 Credit Facilities [Member] | American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2,020 | ||||
Interest rate at end of period | 3.25% | ||||
2014 Credit Facilities [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2,021 | ||||
Interest rate at end of period | 3.50% | ||||
2014 Credit Facilities [Member] | American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2,021 | ||||
Interest rate at end of period | 3.50% | ||||
Credit Facility, Tranche B-1, Citicorp 2013 [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2,019 | ||||
Interest rate at end of period | 3.50% | ||||
Credit Facility, Tranche B-2, Citicorp 2013 [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | 2,016 | ||||
Interest rate at end of period | 3.00% | ||||
Enhanced Equipment Trust Certificates [Member] | Secured Debt 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 | 2,015 | ||||
Debt instrument, maturity date range, end | 2,027 | ||||
Enhanced Equipment Trust Certificates [Member] | American Airlines, Inc. [Member] | Secured Debt 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 | 2,017 | ||||
Debt instrument, maturity date range, end | 2,027 | ||||
Equipment Loans and Other Notes Payable [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Fixed and variable interest rates, minimum | 1.59% | ||||
Fixed and variable interest rates, maximum | 8.48% | ||||
Debt instrument, maturity date range, start | 2,015 | ||||
Debt instrument, maturity date range, end | 2,027 | ||||
Equipment Loans and Other Notes Payable [Member] | American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Fixed and variable interest rates, minimum | 1.63% | ||||
Fixed and variable interest rates, maximum | 8.10% | ||||
Debt instrument, maturity date range, start | 2,015 | ||||
Debt instrument, maturity date range, end | 2,027 | ||||
Special Facility Revenue Bonds [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, stated interest rate percentage | 2.00% | 8.50% | |||
Fixed and variable interest rates, minimum | 2.00% | ||||
Fixed and variable interest rates, maximum | 8.00% | ||||
Debt instrument, maturity date range, start | 2,016 | ||||
Debt instrument, maturity date range, end | 2,035 | ||||
Special Facility Revenue Bonds [Member] | American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, stated interest rate percentage | 2.00% | 8.50% | |||
Fixed and variable interest rates, minimum | 2.00% | ||||
Fixed and variable interest rates, maximum | 8.00% | ||||
Debt instrument, maturity date range, start | 2,016 | ||||
Debt instrument, maturity date range, end | 2,035 | ||||
AAdvantage Loan [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Interest rate at end of period | 8.30% | ||||
AAdvantage Loan [Member] | American Airlines, Inc. [Member] | Secured Debt Member] | |||||
Debt Instrument [Line Items] | |||||
Interest rate at end of period | 8.30% | ||||
Other Secured Obligations, Fixed Rate [Member] | Secured Debt 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 | 2,015 | ||||
Debt instrument, maturity date range, end | 2,028 | ||||
Other Secured Obligations, Fixed Rate [Member] | American Airlines, Inc. [Member] | Secured Debt 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 | 2,015 | ||||
Debt instrument, maturity date range, end | 2,028 | ||||
Senior Notes, 5.50, Due in 2019 [Member] | Unsecured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, stated interest rate percentage | 5.50% | ||||
Debt instrument, maturity date | 2,019 | ||||
Senior Notes, 6.125, Due in 2018 [Member] | Unsecured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, stated interest rate percentage | 6.125% | ||||
Debt instrument, maturity date | 2,018 | ||||
Senior Notes, 4.625, Due in 2020 [Member] | Unsecured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, stated interest rate percentage | 4.625% | 4.625% | |||
Debt instrument, maturity date | 2,020 |
Debt - Additional Information (
Debt - Additional Information (Detail) | Sep. 30, 2015USD ($)Aircraft | Jun. 30, 2015USD ($) | May. 21, 2015USD ($) | Apr. 20, 2015USD ($) | Apr. 19, 2015 | Jan. 02, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2015USD ($)Aircraft | Mar. 31, 2015USD ($)Aircraft | Sep. 30, 2015USD ($)Aircraft | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Aug. 31, 2015 | May. 27, 2015USD ($) |
Debt Instrument [Line Items] | ||||||||||||||
Early debt extinguishment gain (cost) | $ (54,000,000) | |||||||||||||
Other long-term liabilities | $ 3,624,000,000 | $ 3,403,000,000 | $ 3,624,000,000 | $ 3,403,000,000 | ||||||||||
American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Early debt extinguishment gain (cost) | $ (46,000,000) | |||||||||||||
Other long-term liabilities | $ 2,664,000,000 | 2,344,000,000 | 2,664,000,000 | 2,344,000,000 | ||||||||||
Equipment Notes [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Repayments of long-term debt | 72,000,000 | |||||||||||||
Equipment Notes [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Repayments of long-term debt | $ 72,000,000 | |||||||||||||
Unsecured Debt [Member] | Senior Notes, 4.625, Due in 2020 [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | $ 500,000,000 | $ 500,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 4.625% | 4.625% | 4.625% | 4.625% | ||||||||||
Redemption price percentage | 101.00% | |||||||||||||
Debt instrument, expiration date | Mar. 1, 2020 | |||||||||||||
Debt instrument, maturity date | 2,020 | |||||||||||||
Secured Debt Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Write off of unamortized debt discount and debt issuance costs | $ 40,000,000 | |||||||||||||
Secured Debt Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Write off of unamortized debt discount and debt issuance costs | $ 41,000,000 | |||||||||||||
Secured Debt Member] | Special Facility Revenue Bonds [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, stated interest rate percentage | 8.50% | 2.00% | ||||||||||||
Debt instrument, subject to mandatory tender for purchase date | Aug. 31, 2016 | |||||||||||||
Aggregate principal amount of debt exercised to reset interest rate | $ 365,000,000 | |||||||||||||
Current maturities of long-term debt | $ 365,000,000 | $ 365,000,000 | ||||||||||||
Write off of unamortized debt discount and debt issuance costs | 20,000,000 | |||||||||||||
Secured Debt Member] | Special Facility Revenue Bonds [Member] | Tulsa International Airport [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | 112,000,000 | 112,000,000 | ||||||||||||
Debt instrument, received cash proceeds | $ 112,000,000 | |||||||||||||
Debt instrument, stated interest rate percentage | 5.00% | |||||||||||||
Reduction of debt | 11,000,000 | |||||||||||||
Reduction of long-term operating lease obligation | 50,000,000 | |||||||||||||
Aggregate principal amount of debt exercised | $ 104,000,000 | |||||||||||||
Debt instrument, subject to mandatory tender for purchase date | Jun. 1, 2025 | |||||||||||||
Other liabilities | 62,000,000 | $ 62,000,000 | ||||||||||||
Other long-term liabilities | 51,000,000 | 51,000,000 | ||||||||||||
Capital lease obligation | 11,000,000 | $ 11,000,000 | ||||||||||||
Secured Debt Member] | Special Facility Revenue Bonds [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, stated interest rate percentage | 8.50% | 2.00% | ||||||||||||
Debt instrument, subject to mandatory tender for purchase date | Aug. 31, 2016 | |||||||||||||
Aggregate principal amount of debt exercised to reset interest rate | $ 365,000,000 | |||||||||||||
Current maturities of long-term debt | 365,000,000 | $ 365,000,000 | ||||||||||||
Write off of unamortized debt discount and debt issuance costs | 20,000,000 | |||||||||||||
Secured Debt Member] | Special Facility Revenue Bonds [Member] | American Airlines, Inc. [Member] | Tulsa International Airport [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | 112,000,000 | 112,000,000 | ||||||||||||
Debt instrument, received cash proceeds | $ 112,000,000 | |||||||||||||
Debt instrument, stated interest rate percentage | 5.00% | |||||||||||||
Reduction of debt | $ 11,000,000 | |||||||||||||
Reduction of long-term operating lease obligation | $ 50,000,000 | |||||||||||||
Aggregate principal amount of debt exercised | $ 104,000,000 | |||||||||||||
Debt instrument, subject to mandatory tender for purchase date | Jun. 1, 2025 | |||||||||||||
Other liabilities | 62,000,000 | $ 62,000,000 | ||||||||||||
Other long-term liabilities | 51,000,000 | 51,000,000 | ||||||||||||
Capital lease obligation | 11,000,000 | $ 11,000,000 | ||||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,021 | |||||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,021 | |||||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | Term Loan Facility [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Refinancing of credit facilities | $ 750,000,000 | |||||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | Term Loan Facility [Member] | LIBOR [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, basis spread on variable rate | 2.75% | 3.00% | 3.50% | |||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | Term Loan Facility [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Refinancing of credit facilities | $ 750,000,000 | |||||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | Term Loan Facility [Member] | American Airlines, Inc. [Member] | LIBOR [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, basis spread on variable rate | 2.75% | 3.00% | 3.50% | |||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | Revolving Credit Facility [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | |||||||||||||
Secured Debt Member] | 2014 Credit Facilities [Member] | Revolving Credit Facility [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | |||||||||||||
Secured Debt Member] | AAdvantage Loan [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Repayment of loan outstanding | $ 400,000,000 | |||||||||||||
Early debt extinguishment gain (cost) | $ 17,000,000 | $ 17,000,000 | ||||||||||||
Secured Debt Member] | AAdvantage Loan [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Repayment of loan outstanding | $ 400,000,000 | |||||||||||||
Early debt extinguishment gain (cost) | $ 17,000,000 | 17,000,000 | ||||||||||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | 1,300,000,000 | $ 1,300,000,000 | ||||||||||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | Minimum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,022 | |||||||||||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | Maximum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,027 | |||||||||||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | 902,000,000 | $ 902,000,000 | ||||||||||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | American Airlines, Inc. [Member] | Minimum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,023 | |||||||||||||
Secured Debt Member] | Other Aircraft Financing Transaction [Member] | American Airlines, Inc. [Member] | Maximum [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,027 | |||||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,020 | |||||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity date | 2,020 | |||||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | Term Loan Facility [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 1,900,000,000 | |||||||||||||
Term loan facility maturity date | Jun. 29, 2020 | |||||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | Term Loan Facility [Member] | LIBOR [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, basis spread on variable rate | 2.50% | 2.75% | 3.00% | |||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | Term Loan Facility [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 1,900,000,000 | |||||||||||||
Term loan facility maturity date | Jun. 29, 2020 | |||||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | Term Loan Facility [Member] | American Airlines, Inc. [Member] | LIBOR [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, basis spread on variable rate | 2.50% | 2.75% | 3.00% | |||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | Revolving Credit Facility [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 1,400,000,000 | |||||||||||||
Secured Debt Member] | 2013 Credit Facilities [Member] | Revolving Credit Facility [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, maximum borrowing capacity | $ 1,400,000,000 | |||||||||||||
2015-1 EETCs [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | $ 1,200,000,000 | $ 1,200,000,000 | ||||||||||||
Number of owned aircraft | Aircraft | 28 | 28 | ||||||||||||
Debt instrument, received cash proceeds | 1,200,000,000 | |||||||||||||
2015-1 EETCs [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | $ 1,200,000,000 | $ 1,200,000,000 | ||||||||||||
Number of owned aircraft | Aircraft | 28 | 28 | ||||||||||||
Debt instrument, received cash proceeds | 1,200,000,000 | |||||||||||||
2015-1 EETCs [Member] | Equipment Notes, Series A [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 948,000,000 | $ 948,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 3.375% | 3.375% | ||||||||||||
Debt instrument, maturity date | 2027-05 | |||||||||||||
2015-1 EETCs [Member] | Equipment Notes, Series A [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 948,000,000 | $ 948,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 3.375% | 3.375% | ||||||||||||
Debt instrument, maturity date | 2027-05 | |||||||||||||
2015-1 EETCs [Member] | Equipment Notes, Series B [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 266,000,000 | $ 266,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 3.70% | 3.70% | ||||||||||||
Debt instrument, maturity date | 2023-05 | |||||||||||||
2015-1 EETCs [Member] | Equipment Notes, Series B [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 266,000,000 | $ 266,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 3.70% | 3.70% | ||||||||||||
Debt instrument, maturity date | 2023-05 | |||||||||||||
2015-2 EETCs [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | $ 1,100,000,000 | $ 1,100,000,000 | ||||||||||||
Number of owned aircraft | Aircraft | 21 | 21 | ||||||||||||
Debt instrument, received cash proceeds | $ 1,100,000,000 | |||||||||||||
2015-2 EETCs [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument principal amount | $ 1,100,000,000 | $ 1,100,000,000 | ||||||||||||
Number of owned aircraft | Aircraft | 21 | 21 | ||||||||||||
Debt instrument, received cash proceeds | $ 1,100,000,000 | |||||||||||||
2015-2 EETCs [Member] | Equipment Notes, Series A [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 239,000,000 | $ 239,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 4.00% | 4.00% | ||||||||||||
Debt instrument, maturity date | 2027-09 | |||||||||||||
2015-2 EETCs [Member] | Equipment Notes, Series A [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 239,000,000 | $ 239,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 4.00% | 4.00% | ||||||||||||
Debt instrument, maturity date | 2027-09 | |||||||||||||
2015-2 EETCs [Member] | Equipment Notes, Series B [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 239,000,000 | $ 239,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 4.40% | 4.40% | ||||||||||||
Debt instrument, maturity date | 2023-09 | |||||||||||||
2015-2 EETCs [Member] | Equipment Notes, Series B [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 239,000,000 | $ 239,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 4.40% | 4.40% | ||||||||||||
Debt instrument, maturity date | 2023-09 | |||||||||||||
2015-2 EETCs [Member] | Equipment Notes, Series AA [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 583,000,000 | $ 583,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 3.60% | 3.60% | ||||||||||||
Debt instrument, maturity date | 2027-09 | |||||||||||||
2015-2 EETCs [Member] | Equipment Notes, Series AA [Member] | American Airlines, Inc. [Member] | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Notes payable | $ 583,000,000 | $ 583,000,000 | ||||||||||||
Debt instrument, stated interest rate percentage | 3.60% | 3.60% | ||||||||||||
Debt instrument, maturity date | 2027-09 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 09, 2013 | |
Income Taxes [Line Items] | ||||||
Unrecognized federal tax benefit | $ 867 | |||||
Federal NOL carryforwards, maximum allowable utilization | $ 9,000 | |||||
Alternative minimum tax credit carryforwards | 341 | |||||
Non-cash deferred income tax provision | $ 6 | $ 8 | $ 22 | $ 22 | ||
State and international tax expense | 10 | 20 | 8 | |||
Fuel Hedging Contracts [Member] | ||||||
Income Taxes [Line Items] | ||||||
Non-cash tax provision on sale of fuel hedging contracts | 330 | |||||
State and Local Jurisdiction [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL subject to expiration | $ 4,600 | |||||
NOL carryforwards expiration year, range start | 2,015 | |||||
NOL carryforwards expiration year, range end | 2,034 | |||||
Valuation allowance | $ 264 | |||||
Federal [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL carryforwards expiration year | 2,022 | |||||
American Airlines, Inc. [Member] | ||||||
Income Taxes [Line Items] | ||||||
Unrecognized federal tax benefit | $ 712 | |||||
Federal NOL carryforwards, maximum allowable utilization | $ 9,500 | |||||
Alternative minimum tax credit carryforwards | 435 | |||||
Non-cash deferred income tax provision | 6 | $ 7 | 20 | 21 | ||
State and international tax expense | $ 3 | $ 8 | 3 | |||
American Airlines, Inc. [Member] | Fuel Hedging Contracts [Member] | ||||||
Income Taxes [Line Items] | ||||||
Non-cash tax provision on sale of fuel hedging contracts | $ 328 | |||||
American Airlines, Inc. [Member] | State and Local Jurisdiction [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL subject to expiration | $ 3,900 | |||||
NOL carryforwards expiration year, range start | 2,015 | |||||
NOL carryforwards expiration year, range end | 2,034 | |||||
Valuation allowance | $ 208 | |||||
American Airlines, Inc. [Member] | State and Local Jurisdiction [Member] | Available for use in 2015 [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL subject to expiration | $ 4,600 | |||||
American Airlines, Inc. [Member] | Federal [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL carryforwards expiration year | 2,022 | |||||
American Airlines, Inc. [Member] | Federal [Member] | Available for use in 2015 [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL subject to expiration | $ 10,100 | |||||
Internal Revenue Service (IRS) [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL subject to expiration | 10,100 | |||||
Valuation allowance | 4,500 | |||||
Internal Revenue Service (IRS) [Member] | American Airlines, Inc. [Member] | ||||||
Income Taxes [Line Items] | ||||||
NOL subject to expiration | 10,300 | |||||
Valuation allowance | $ 5,100 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $ 7,857 | |
Restricted cash and short-term investments | 710 | $ 774 |
Fair value of assets and liabilities measured on recurring basis | 8,567 | |
American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 5,405 | |
Restricted cash and short-term investments | 657 | $ 650 |
Fair value of assets and liabilities measured on recurring basis | 6,062 | |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 3,491 | |
Corporate Obligations [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,977 | |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,486 | |
Money Market Funds [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,419 | |
Repurchase Agreements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 41 | |
Repurchase Agreements [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 41 | |
Bank Notes / Certificates of Deposit / Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,839 | |
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] | ||
Assets fair value | 1,968 | |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,486 | |
Restricted cash and short-term investments | 710 | |
Fair value of assets and liabilities measured on recurring basis | 2,196 | |
Level 1 [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,419 | |
Restricted cash and short-term investments | 657 | |
Fair value of assets and liabilities measured on recurring basis | 2,076 | |
Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,486 | |
Level 1 [Member] | Money Market Funds [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,419 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 6,371 | |
Fair value of assets and liabilities measured on recurring basis | 6,371 | |
Level 2 [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 3,986 | |
Fair value of assets and liabilities measured on recurring basis | 3,986 | |
Level 2 [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 3,491 | |
Level 2 [Member] | Corporate Obligations [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,977 | |
Level 2 [Member] | Repurchase Agreements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 41 | |
Level 2 [Member] | Repurchase Agreements [Member] | American Airlines, Inc. [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 41 | |
Level 2 [Member] | Bank Notes / Certificates of Deposit / Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,839 | |
Level 2 [Member] | 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] | ||
Assets fair value | $ 1,968 |
Fair Value Measurements - Sum47
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) - Maturity Dates Exceeding One Year [Member] $ in Millions | Sep. 30, 2015USD ($) |
Bank Notes / Certificates of Deposit / Time Deposits [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | $ 1,600 |
Corporate Obligations [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 788 |
American Airlines, Inc. [Member] | Bank Notes / Certificates of Deposit / Time Deposits [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 1,300 |
American Airlines, Inc. [Member] | Corporate Obligations [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | $ 375 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2015USD ($)VEF / $ | |
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 | 609,000,000 |
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 | $ 609,000,000 |
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 currency translation exchange rate | VEF / $ | 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 currency translation exchange rate | VEF / $ | 6.3 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, including current maturities | $ 20,561 | $ 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 | 13,252 | 11,234 |
Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term debt, including current maturities | 20,971 | 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 | $ 13,461 | $ 11,618 |
Retirement Benefits - Component
Retirement Benefits - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 1 | $ 1 | $ 2 | $ 3 |
Interest cost | 184 | 186 | 552 | 557 |
Expected return on assets | (213) | (197) | (639) | (589) |
Settlements | 1 | 1 | 4 | |
Prior service cost (benefit) | 7 | 7 | 21 | 21 |
Unrecognized net loss (gain) | 28 | 12 | 84 | 35 |
Net periodic benefit cost (income) | 7 | 10 | 21 | 31 |
Pension Benefits [Member] | American Airlines, Inc. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 1 | 2 | |
Interest cost | 183 | 185 | 550 | 554 |
Expected return on assets | (212) | (196) | (636) | (587) |
Settlements | 1 | 1 | 4 | |
Prior service cost (benefit) | 7 | 7 | 21 | 21 |
Unrecognized net loss (gain) | 28 | 12 | 84 | 35 |
Net periodic benefit cost (income) | 6 | 10 | 21 | 29 |
Retiree Medical and Other Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | 3 | 1 | |
Interest cost | 13 | 15 | 38 | 46 |
Expected return on assets | (5) | (5) | (15) | (15) |
Prior service cost (benefit) | (60) | (55) | (182) | (175) |
Unrecognized net loss (gain) | (2) | (2) | (5) | (6) |
Net periodic benefit cost (income) | (53) | (47) | (161) | (149) |
Retiree Medical and Other Benefits [Member] | American Airlines, Inc. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 1 | |||
Interest cost | 11 | 14 | 34 | 42 |
Expected return on assets | (5) | (5) | (15) | (15) |
Prior service cost (benefit) | (59) | (54) | (178) | (172) |
Unrecognized net loss (gain) | (2) | (2) | (6) | (6) |
Net periodic benefit cost (income) | $ (55) | $ (47) | $ (164) | $ (151) |
Retirement Benefits - Compone51
Retirement Benefits - Components of Net Periodic Benefit Cost (Parenthetical) (Detail) - Other Postretirement Benefit Plans [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service costs | $ 1 | $ 2 |
American Airlines, Inc. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amortization of prior service costs | $ 2 |
Retirement Benefits - Additiona
Retirement Benefits - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plans, estimated future employer contributions until 2019 | $ 0 |
American Airlines, Inc. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Defined benefit plans, estimated future employer contributions until 2019 | $ 0 |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance, net of tax | $ (4,559) | |||
Other comprehensive income (loss), before reclassifications, net of tax | (5) | |||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | $ (26) | $ (47) | (87) | $ 210 |
Total other comprehensive income (loss) | (30) | (47) | (92) | 139 |
Ending Balance, net of tax | (4,651) | (4,651) | ||
American Airlines, Inc. [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance, net of tax | (4,645) | |||
Other comprehensive income (loss), before reclassifications, net of tax | (4) | |||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | (26) | (46) | (85) | 209 |
Total other comprehensive income (loss) | (29) | (46) | (89) | 140 |
Ending Balance, net of tax | (4,734) | (4,734) | ||
Pension and Retiree Medical Liability [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance, before tax | (3,683) | |||
Amounts reclassified from accumulated other comprehensive income (loss), before tax | (79) | |||
Other comprehensive income (loss) before tax | (79) | |||
Ending Balance, before tax | (3,762) | (3,762) | ||
Pension and Retiree Medical Liability [Member] | American Airlines, Inc. [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance, before tax | (3,660) | |||
Amounts reclassified from accumulated other comprehensive income (loss), before tax | (76) | |||
Other comprehensive income (loss) before tax | (76) | |||
Ending Balance, before tax | (3,736) | (3,736) | ||
Derivative Financial Instruments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance, before tax | 9 | |||
Amounts reclassified from accumulated other comprehensive income (loss), before tax | (9) | |||
Other comprehensive income (loss) before tax | (9) | |||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | (7) | (9) | 5 | |
Derivative Financial Instruments [Member] | American Airlines, Inc. [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance, before tax | 9 | |||
Amounts reclassified from accumulated other comprehensive income (loss), before tax | (9) | |||
Other comprehensive income (loss) before tax | (9) | |||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | (7) | (9) | 5 | |
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 | (5) | |||
Amounts reclassified from accumulated other comprehensive income (loss), before tax | 1 | |||
Other comprehensive income (loss) before tax | (4) | |||
Ending Balance, before tax | (9) | (9) | ||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | (2) | 1 | ||
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 | (4) | |||
Other comprehensive income (loss) before tax | (4) | |||
Ending Balance, before tax | (7) | (7) | ||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | $ (2) | (2) | ||
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) | (880) | ||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | 330 | |||
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) | $ (991) | ||
Amounts reclassified from accumulated other comprehensive income (loss), net of tax | $ 328 |
Accumulated Other Comprehensi54
Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ (26) | $ (47) | $ (87) | $ 210 |
American Airlines, Inc. [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | (26) | (46) | (85) | 209 |
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) | (52) | (48) | (159) | (154) |
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) | (47) | (155) | (151) |
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 | 10 | 80 | 29 |
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 | 10 | 79 | 29 |
Derivative Financial Instruments [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | (7) | (9) | 5 | |
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) | (7) | (9) | 5 | |
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) | $ 1 | ||
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) | $ (2) | (2) | ||
Income Tax Benefit (Expense) [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | 330 | |||
Income Tax Benefit (Expense) [Member] | American Airlines, Inc. [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 328 |
Regional Expenses - Components
Regional Expenses - Components of Regional Expenses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Regional Expenses [Line Items] | ||||
Aircraft fuel and related taxes | $ 1,593 | $ 2,829 | $ 4,912 | $ 8,370 |
Salaries, wages and benefits | 2,404 | 2,137 | 7,141 | 6,419 |
Maintenance, materials and repairs | 456 | 529 | 1,452 | 1,528 |
Other rent and landing fees | 432 | 431 | 1,290 | 1,297 |
Aircraft rent | 308 | 306 | 941 | 937 |
Selling expenses | 366 | 393 | 1,051 | 1,196 |
Depreciation and amortization | 336 | 334 | 1,013 | 960 |
Special items, net | 163 | 221 | 610 | 335 |
Other | 1,131 | 1,031 | 3,278 | 3,140 |
Total regional expenses | 1,518 | 1,668 | 4,536 | 4,919 |
American Airlines, Inc. [Member] | ||||
Regional Expenses [Line Items] | ||||
Aircraft fuel and related taxes | 1,065 | 1,894 | 3,332 | 5,662 |
Salaries, wages and benefits | 1,563 | 1,412 | 4,684 | 4,251 |
Maintenance, materials and repairs | 261 | 353 | 868 | 1,031 |
Other rent and landing fees | 286 | 279 | 825 | 853 |
Aircraft rent | 225 | 211 | 676 | 641 |
Selling expenses | 256 | 278 | 688 | 844 |
Depreciation and amortization | 245 | 230 | 728 | 664 |
Special items, net | 77 | 164 | 350 | 127 |
Other | 790 | 746 | 2,323 | 2,258 |
Total regional expenses | 803 | 790 | 2,318 | 2,352 |
Regional Expenses [Member] | ||||
Regional Expenses [Line Items] | ||||
Aircraft fuel and related taxes | 310 | 538 | 970 | 1,573 |
Salaries, wages and benefits | 296 | 283 | 881 | 850 |
Capacity purchases from third-party regional carriers | 399 | 380 | 1,172 | 1,102 |
Maintenance, materials and repairs | 78 | 94 | 241 | 263 |
Other rent and landing fees | 126 | 109 | 354 | 311 |
Aircraft rent | 8 | 9 | 25 | 26 |
Selling expenses | 87 | 79 | 252 | 238 |
Depreciation and amortization | 62 | 52 | 181 | 156 |
Special items, net | 2 | 2 | 20 | 7 |
Other | 150 | 122 | 440 | 393 |
Total regional expenses | 1,518 | 1,668 | 4,536 | 4,919 |
Regional Expenses [Member] | American Airlines, Inc. [Member] | ||||
Regional Expenses [Line Items] | ||||
Aircraft fuel and related taxes | 166 | 264 | 510 | 787 |
Salaries, wages and benefits | 36 | 25 | 100 | 71 |
Capacity purchases from third-party regional carriers | 371 | 327 | 1,067 | 970 |
Other rent and landing fees | 77 | 61 | 212 | 177 |
Selling expenses | 44 | 40 | 122 | 116 |
Depreciation and amortization | 47 | 36 | 134 | 110 |
Special items, net | 1 | 2 | 4 | 4 |
Other | 61 | 35 | 169 | 117 |
Total regional expenses | $ 803 | $ 790 | $ 2,318 | $ 2,352 |
Legal Proceedings - Additional
Legal Proceedings - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions | Jul. 14, 2015 | Feb. 10, 2015 | Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Dec. 09, 2013 |
Loss Contingencies [Line Items] | ||||||
Disputed claims reserve | $ 755 | |||||
Shares released from restriction and issued | 0.6 | 0.8 | ||||
Common Stock [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Shares reserved for future issuance | 25.3 | 25.3 | 26.8 | 30.4 | ||
Shares released from restriction and issued | 0.6 | 0.8 | ||||
Stock repurchased (in shares) | 0.1 | 0.1 | 38.4 | 59.5 | ||
Aggregate stock repurchase price | $ 2 | $ 4 | $ 1,600 | $ 2,500 | ||
American Airlines, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Disputed claims reserve | $ 755 | |||||
Shares released from restriction and issued | 0.6 | 0.8 | ||||
American Airlines, Inc. [Member] | Common Stock [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Shares reserved for future issuance | 25.3 | 25.3 | 26.8 | 30.4 | ||
Shares released from restriction and issued | 0.6 | 0.8 | ||||
Stock repurchased (in shares) | 0.1 | 0.1 | ||||
Aggregate stock repurchase price | $ 2 | $ 4 | ||||
Non-Pension, Post-Employee Benefits (OPEB) Matter [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Potential loss | $ 212 | $ 212 | ||||
Non-Pension, Post-Employee Benefits (OPEB) Matter [Member] | American Airlines, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Potential loss | $ 212 | $ 212 |
Financial Information for Sub57
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Additional Information (Detail) | Sep. 30, 2015 |
Unsecured Debt [Member] | Senior Notes, 6.125, Due in 2018 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Debt instrument, stated interest rate percentage | 6.125% |
Financial Information for Sub58
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Operating revenues: | ||||
Mainline passenger | $ 7,654 | $ 8,093 | $ 22,298 | $ 23,564 |
Regional passenger | 1,699 | 1,665 | 4,910 | 4,779 |
Cargo | 180 | 215 | 568 | 643 |
Other | 1,173 | 1,166 | 3,584 | 3,504 |
Total operating revenues | 10,706 | 11,139 | 31,360 | 32,490 |
Operating expenses: | ||||
Aircraft fuel and related taxes | 1,593 | 2,829 | 4,912 | 8,370 |
Salaries, wages and benefits | 2,404 | 2,137 | 7,141 | 6,419 |
Regional expenses | 1,518 | 1,668 | 4,536 | 4,919 |
Maintenance, materials and repairs | 456 | 529 | 1,452 | 1,528 |
Other rent and landing fees | 432 | 431 | 1,290 | 1,297 |
Aircraft rent | 308 | 306 | 941 | 937 |
Selling expenses | 366 | 393 | 1,051 | 1,196 |
Depreciation and amortization | 336 | 334 | 1,013 | 960 |
Special items, net | 163 | 221 | 610 | 335 |
Other | 1,131 | 1,031 | 3,278 | 3,140 |
Total operating expenses | 8,707 | 9,879 | 26,224 | 29,101 |
Operating income (loss) | 1,999 | 1,260 | 5,136 | 3,389 |
Nonoperating income (expense): | ||||
Interest income | 10 | 7 | 29 | 22 |
Interest expense, net | (219) | (210) | (651) | (667) |
Other, net | (81) | (108) | (143) | (99) |
Total nonoperating expense, net | (290) | (311) | (765) | (744) |
Income (loss) before income taxes | 1,709 | 949 | 4,371 | 2,645 |
Income tax provision | 16 | 7 | 42 | 360 |
Net income (loss) | 1,693 | 942 | 4,329 | 2,285 |
Eliminations and Reclassifications [Member] | ||||
Operating revenues: | ||||
Other | (652) | (928) | (2,175) | (2,467) |
Total operating revenues | (652) | (928) | (2,175) | (2,467) |
Operating expenses: | ||||
Salaries, wages and benefits | (191) | (191) | (577) | (578) |
Regional expenses | (23) | (8) | (78) | (14) |
Maintenance, materials and repairs | (78) | (93) | (239) | (258) |
Other rent and landing fees | (11) | (8) | (32) | (23) |
Aircraft rent | (40) | (24) | (108) | (71) |
Depreciation and amortization | (11) | (11) | (33) | (35) |
Special items, net | (4) | (3) | ||
Other | (298) | (593) | (1,104) | (1,484) |
Total operating expenses | (652) | (928) | (2,175) | (2,466) |
Operating income (loss) | (1) | |||
Nonoperating income (expense): | ||||
Interest income | (7) | (6) | (16) | (14) |
Interest expense, net | 7 | 6 | 16 | 14 |
Equity in earnings of subsidiaries | (2,175) | (1,416) | (5,489) | (3,497) |
Other, net | 53 | |||
Total nonoperating expense, net | (2,175) | (1,416) | (5,489) | (3,444) |
Income (loss) before income taxes | (2,175) | (1,416) | (5,489) | (3,445) |
Income tax provision | (271) | (7) | (650) | (9) |
Net income (loss) | (1,904) | (1,409) | (4,839) | (3,436) |
American Airlines Group (Parent Company Only) [Member] | ||||
Operating expenses: | ||||
Special items, net | 22 | |||
Other | 1 | 2 | 5 | |
Total operating expenses | 1 | 2 | 27 | |
Operating income (loss) | (1) | (2) | (27) | |
Nonoperating income (expense): | ||||
Interest income | 1 | 2 | 2 | 7 |
Interest expense, net | (17) | (47) | (4) | |
Equity in earnings of subsidiaries | 1,710 | 940 | 4,354 | 2,309 |
Other, net | 22 | |||
Total nonoperating expense, net | 1,694 | 942 | 4,331 | 2,312 |
Income (loss) before income taxes | 1,693 | 942 | 4,329 | 2,285 |
Net income (loss) | 1,693 | 942 | 4,329 | 2,285 |
American Airlines, Inc. [Member] | ||||
Operating revenues: | ||||
Mainline passenger | 4,927 | 5,321 | 14,565 | 15,579 |
Regional passenger | 858 | 748 | 2,399 | 2,202 |
Cargo | 150 | 175 | 472 | 521 |
Other | 847 | 811 | 2,533 | 2,374 |
Total operating revenues | 6,782 | 7,055 | 19,969 | 20,676 |
Operating expenses: | ||||
Aircraft fuel and related taxes | 1,065 | 1,894 | 3,332 | 5,662 |
Salaries, wages and benefits | 1,563 | 1,412 | 4,684 | 4,251 |
Regional expenses | 803 | 790 | 2,318 | 2,352 |
Maintenance, materials and repairs | 261 | 353 | 868 | 1,031 |
Other rent and landing fees | 286 | 279 | 825 | 853 |
Aircraft rent | 225 | 211 | 676 | 641 |
Selling expenses | 256 | 278 | 688 | 844 |
Depreciation and amortization | 245 | 230 | 728 | 664 |
Special items, net | 77 | 164 | 350 | 127 |
Other | 790 | 746 | 2,323 | 2,258 |
Total operating expenses | 5,571 | 6,357 | 16,792 | 18,683 |
Operating income (loss) | 1,211 | 698 | 3,177 | 1,993 |
Nonoperating income (expense): | ||||
Interest income | 10 | 5 | 26 | 18 |
Interest expense, net | (133) | (136) | (396) | (443) |
Other, net | (83) | (97) | (162) | (85) |
Total nonoperating expense, net | (206) | (228) | (532) | (510) |
Income (loss) before income taxes | 1,005 | 470 | 2,645 | 1,483 |
Income tax provision | 9 | 5 | 28 | 351 |
Net income (loss) | 996 | 465 | 2,617 | 1,132 |
US Airways Group [Member] | ||||
Operating expenses: | ||||
Other | 1 | |||
Total operating expenses | 1 | |||
Operating income (loss) | (1) | |||
Nonoperating income (expense): | ||||
Interest income | 1 | 1 | 2 | |
Interest expense, net | (9) | (11) | (27) | (31) |
Equity in earnings of subsidiaries | 465 | 476 | 1,135 | 1,188 |
Other, net | (53) | |||
Total nonoperating expense, net | 456 | 466 | 1,109 | 1,106 |
Income (loss) before income taxes | 456 | 466 | 1,109 | 1,105 |
Net income (loss) | 456 | 466 | 1,109 | 1,105 |
US Airways [Member] | ||||
Operating revenues: | ||||
Mainline passenger | 2,727 | 2,772 | 7,733 | 7,985 |
Regional passenger | 841 | 917 | 2,511 | 2,577 |
Cargo | 30 | 40 | 96 | 122 |
Other | 353 | 385 | 1,114 | 1,211 |
Total operating revenues | 3,951 | 4,114 | 11,454 | 11,895 |
Operating expenses: | ||||
Aircraft fuel and related taxes | 528 | 935 | 1,580 | 2,708 |
Salaries, wages and benefits | 839 | 723 | 2,450 | 2,162 |
Regional expenses | 738 | 886 | 2,296 | 2,581 |
Maintenance, materials and repairs | 195 | 176 | 584 | 497 |
Other rent and landing fees | 146 | 152 | 465 | 444 |
Aircraft rent | 83 | 95 | 265 | 300 |
Selling expenses | 110 | 115 | 363 | 352 |
Depreciation and amortization | 92 | 105 | 285 | 301 |
Special items, net | 86 | 57 | 260 | 186 |
Other | 343 | 304 | 958 | 930 |
Total operating expenses | 3,160 | 3,548 | 9,506 | 10,461 |
Operating income (loss) | 791 | 566 | 1,948 | 1,434 |
Nonoperating income (expense): | ||||
Interest income | 3 | 5 | 10 | 8 |
Interest expense, net | (64) | (68) | (191) | (201) |
Other, net | 2 | (12) | (4) | (16) |
Total nonoperating expense, net | (59) | (75) | (185) | (209) |
Income (loss) before income taxes | 732 | 491 | 1,763 | 1,225 |
Income tax provision | 278 | 2 | 656 | 4 |
Net income (loss) | 454 | 489 | 1,107 | 1,221 |
Non-Guarantor Subsidiaries [Member] | ||||
Operating revenues: | ||||
Other | 625 | 898 | 2,112 | 2,386 |
Total operating revenues | 625 | 898 | 2,112 | 2,386 |
Operating expenses: | ||||
Salaries, wages and benefits | 193 | 193 | 584 | 584 |
Maintenance, materials and repairs | 78 | 93 | 239 | 258 |
Other rent and landing fees | 11 | 8 | 32 | 23 |
Aircraft rent | 40 | 24 | 108 | 67 |
Depreciation and amortization | 10 | 10 | 33 | 30 |
Special items, net | 4 | 3 | ||
Other | 295 | 574 | 1,099 | 1,430 |
Total operating expenses | 627 | 902 | 2,099 | 2,395 |
Operating income (loss) | (2) | (4) | 13 | (9) |
Nonoperating income (expense): | ||||
Interest income | 3 | 6 | 1 | |
Interest expense, net | (3) | (1) | (6) | (2) |
Other, net | 1 | 1 | 2 | |
Total nonoperating expense, net | 1 | 1 | ||
Income (loss) before income taxes | (2) | (4) | 14 | (8) |
Income tax provision | 7 | 8 | 14 | |
Net income (loss) | $ (2) | $ (11) | $ 6 | $ (22) |
Financial Information for Sub59
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Statement of Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | $ 1,693 | $ 942 | $ 4,329 | $ 2,285 |
Other comprehensive income (loss): | ||||
Defined benefit pension plans and retiree medical | (26) | (38) | (79) | (142) |
Derivative financial instruments: | ||||
Change in fair value | (54) | |||
Reclassification into earnings | (7) | (9) | 5 | |
Unrealized gain (loss) on investments: | ||||
Net change in value | (4) | (2) | (4) | |
Reversal of non-cash tax provision | 330 | |||
Total other comprehensive income (loss) | (30) | (47) | (92) | 139 |
Total comprehensive income (loss) | 1,663 | 895 | 4,237 | 2,424 |
Eliminations and Reclassifications [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | (1,904) | (1,409) | (4,839) | (3,436) |
Unrealized gain (loss) on investments: | ||||
Total comprehensive income (loss) | (1,904) | (1,409) | (4,839) | (3,436) |
American Airlines Group (Parent Company Only) [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 1,693 | 942 | 4,329 | 2,285 |
Derivative financial instruments: | ||||
Change in fair value | (2) | |||
Unrealized gain (loss) on investments: | ||||
Net change in value | 2 | |||
Reversal of non-cash tax provision | 2 | |||
Total other comprehensive income (loss) | 2 | |||
Total comprehensive income (loss) | 1,693 | 942 | 4,329 | 2,287 |
American Airlines, Inc. [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 996 | 465 | 2,617 | 1,132 |
Other comprehensive income (loss): | ||||
Defined benefit pension plans and retiree medical | (26) | (37) | (76) | (139) |
Derivative financial instruments: | ||||
Change in fair value | (52) | |||
Reclassification into earnings | (7) | (9) | 5 | |
Unrealized gain (loss) on investments: | ||||
Net change in value | (3) | (2) | (4) | (2) |
Reversal of non-cash tax provision | 328 | |||
Total other comprehensive income (loss) | (29) | (46) | (89) | 140 |
Total comprehensive income (loss) | 967 | 419 | 2,528 | 1,272 |
US Airways Group [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 456 | 466 | 1,109 | 1,105 |
Unrealized gain (loss) on investments: | ||||
Total comprehensive income (loss) | 456 | 466 | 1,109 | 1,105 |
US Airways [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | 454 | 489 | 1,107 | 1,221 |
Other comprehensive income (loss): | ||||
Defined benefit pension plans and retiree medical | (1) | (3) | (3) | |
Unrealized gain (loss) on investments: | ||||
Net change in value | (1) | |||
Total other comprehensive income (loss) | (1) | (1) | (3) | (3) |
Total comprehensive income (loss) | 453 | 488 | 1,104 | 1,218 |
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net income (loss) | (2) | (11) | 6 | (22) |
Unrealized gain (loss) on investments: | ||||
Total comprehensive income (loss) | $ (2) | $ (11) | $ 6 | $ (22) |
Financial Information for Sub60
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Current assets | ||||
Cash | $ 1,016 | $ 994 | $ 1,178 | $ 1,140 |
Short-term investments | 7,857 | 6,309 | ||
Restricted cash and short-term investments | 710 | 774 | ||
Accounts receivable, net | 1,828 | 1,771 | ||
Aircraft fuel, spare parts and supplies, net | 1,010 | 1,004 | ||
Prepaid expenses and other | 1,285 | 1,260 | ||
Total current assets | 13,706 | 12,112 | ||
Operating property and equipment | 26,292 | 23,084 | ||
Other assets | ||||
Goodwill | 4,091 | 4,091 | ||
Intangibles, net of accumulated amortization | 2,261 | 2,240 | ||
Other assets | 2,365 | 2,244 | ||
Total other assets | 8,717 | 8,575 | ||
Total assets | 48,715 | 43,771 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 1,712 | 1,708 | ||
Accounts payable | 1,525 | 1,377 | ||
Air traffic liability | 4,811 | 4,252 | ||
Frequent flyer liability | 2,649 | 2,807 | ||
Other accrued liabilities | 3,464 | 3,291 | ||
Total current liabilities | 14,161 | 13,435 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 18,849 | 16,196 | ||
Pension and postretirement benefits | 7,433 | 7,562 | ||
Bankruptcy settlement obligations | 177 | 325 | ||
Other liabilities | 4,333 | 4,232 | ||
Total noncurrent liabilities | 30,792 | 28,315 | ||
Stockholders' equity (deficit) | ||||
Common stock | 6 | 7 | ||
Additional paid-in capital | 12,852 | 15,135 | ||
Accumulated other comprehensive loss | (4,651) | (4,559) | ||
Retained earnings (deficit) | (4,445) | (8,562) | ||
Total stockholders' equity (deficit) | 3,762 | 2,021 | ||
Total liabilities and stockholders' equity (deficit) | 48,715 | 43,771 | ||
Eliminations and Reclassifications [Member] | ||||
Current assets | ||||
Accounts receivable, net | (12) | (13) | ||
Receivables from related parties, net | (1,201) | (3,509) | ||
Prepaid expenses and other | (155) | |||
Total current assets | (1,213) | (3,677) | ||
Other assets | ||||
Investments in subsidiaries | (13,223) | (7,717) | ||
Goodwill | 1 | 1 | ||
Other assets | (32) | (35) | ||
Total other assets | (13,254) | (7,751) | ||
Total assets | (14,467) | (11,428) | ||
Current liabilities | ||||
Accounts payable | (2) | |||
Payables to related parties, net | (1,201) | (3,509) | ||
Other accrued liabilities | 1 | (3) | ||
Total current liabilities | (1,202) | (3,512) | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | (35) | (35) | ||
Other liabilities | (813) | (562) | ||
Total noncurrent liabilities | (848) | (597) | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | (21,429) | (21,076) | ||
Accumulated other comprehensive loss | 4,777 | 4,681 | ||
Retained earnings (deficit) | 4,235 | 9,076 | ||
Total stockholders' equity (deficit) | (12,417) | (7,319) | ||
Total liabilities and stockholders' equity (deficit) | (14,467) | (11,428) | ||
American Airlines Group (Parent Company Only) [Member] | ||||
Current assets | ||||
Cash | 1 | 1 | 1 | |
Receivables from related parties, net | 65 | 1,893 | ||
Prepaid expenses and other | 82 | |||
Total current assets | 148 | 1,894 | ||
Other assets | ||||
Investments in subsidiaries | 5,143 | 847 | ||
Other assets | 27 | 53 | ||
Total other assets | 5,170 | 900 | ||
Total assets | 5,318 | 2,794 | ||
Current liabilities | ||||
Other accrued liabilities | 186 | 14 | ||
Total current liabilities | 186 | 14 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 1,257 | 758 | ||
Other liabilities | 113 | 1 | ||
Total noncurrent liabilities | 1,370 | 759 | ||
Stockholders' equity (deficit) | ||||
Common stock | 6 | 7 | ||
Additional paid-in capital | 12,852 | 15,135 | ||
Accumulated other comprehensive loss | (4,651) | (4,559) | ||
Retained earnings (deficit) | (4,445) | (8,562) | ||
Total stockholders' equity (deficit) | 3,762 | 2,021 | ||
Total liabilities and stockholders' equity (deficit) | 5,318 | 2,794 | ||
American Airlines, Inc. [Member] | ||||
Current assets | ||||
Cash | 806 | 785 | 1,008 | 829 |
Short-term investments | 5,405 | 3,290 | ||
Restricted cash and short-term investments | 657 | 650 | ||
Accounts receivable, net | 1,490 | 1,445 | ||
Aircraft fuel, spare parts and supplies, net | 632 | 625 | ||
Prepaid expenses and other | 795 | 462 | ||
Total current assets | 9,785 | 7,257 | ||
Operating property and equipment | 19,200 | 16,299 | ||
Other assets | ||||
Intangibles, net of accumulated amortization | 871 | 815 | ||
Other assets | 1,826 | 1,921 | ||
Total other assets | 2,697 | 2,736 | ||
Total assets | 31,682 | 26,292 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 1,212 | 1,230 | ||
Accounts payable | 1,269 | 1,029 | ||
Payables to related parties, net | 565 | 2,563 | ||
Air traffic liability | 4,373 | 2,989 | ||
Frequent flyer liability | 2,649 | 1,823 | ||
Other accrued liabilities | 2,043 | 1,886 | ||
Total current liabilities | 12,111 | 11,520 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 12,040 | 10,004 | ||
Pension and postretirement benefits | 7,270 | 7,400 | ||
Bankruptcy settlement obligations | 177 | 325 | ||
Other liabilities | 2,927 | 2,615 | ||
Total noncurrent liabilities | 22,414 | 20,344 | ||
Stockholders' equity (deficit) | ||||
Common stock | 0 | 0 | ||
Additional paid-in capital | 10,833 | 10,632 | ||
Accumulated other comprehensive loss | (4,734) | (4,645) | ||
Retained earnings (deficit) | (8,942) | (11,559) | ||
Total stockholders' equity (deficit) | (2,843) | (5,572) | ||
Total liabilities and stockholders' equity (deficit) | 31,682 | 26,292 | ||
US Airways Group [Member] | ||||
Current assets | ||||
Cash | 19 | 2 | 1 | 1 |
Receivables from related parties, net | 157 | |||
Total current assets | 19 | 159 | ||
Other assets | ||||
Investments in subsidiaries | 8,080 | 6,870 | ||
Total other assets | 8,080 | 6,870 | ||
Total assets | 8,099 | 7,029 | ||
Current liabilities | ||||
Payables to related parties, net | 511 | 634 | ||
Other accrued liabilities | 11 | 3 | ||
Total current liabilities | 522 | 637 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 525 | 524 | ||
Total noncurrent liabilities | 525 | 524 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | 4,779 | 4,703 | ||
Accumulated other comprehensive loss | (19) | (16) | ||
Retained earnings (deficit) | 2,292 | 1,181 | ||
Total stockholders' equity (deficit) | 7,052 | 5,868 | ||
Total liabilities and stockholders' equity (deficit) | 8,099 | 7,029 | ||
US Airways [Member] | ||||
Current assets | ||||
Cash | 181 | 199 | 164 | 303 |
Short-term investments | 2,449 | 3,016 | ||
Restricted cash and short-term investments | 53 | 124 | ||
Accounts receivable, net | 336 | 324 | ||
Receivables from related parties, net | 1,024 | 933 | ||
Aircraft fuel, spare parts and supplies, net | 320 | 294 | ||
Prepaid expenses and other | 367 | 912 | ||
Total current assets | 4,730 | 5,802 | ||
Operating property and equipment | 6,813 | 6,506 | ||
Other assets | ||||
Goodwill | 4,090 | 4,090 | ||
Intangibles, net of accumulated amortization | 1,390 | 1,425 | ||
Other assets | 489 | 267 | ||
Total other assets | 5,969 | 5,782 | ||
Total assets | 17,512 | 18,090 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 500 | 477 | ||
Accounts payable | 213 | 287 | ||
Payables to related parties, net | 73 | |||
Air traffic liability | 438 | 1,263 | ||
Frequent flyer liability | 984 | |||
Other accrued liabilities | 1,114 | 1,253 | ||
Total current liabilities | 2,265 | 4,337 | ||
Noncurrent liabilities | ||||
Long-term debt and capital leases, net of current maturities | 5,062 | 4,945 | ||
Pension and postretirement benefits | 123 | 122 | ||
Other liabilities | 2,057 | 1,861 | ||
Total noncurrent liabilities | 7,242 | 6,928 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | 5,618 | 5,542 | ||
Accumulated other comprehensive loss | (12) | (8) | ||
Retained earnings (deficit) | 2,399 | 1,291 | ||
Total stockholders' equity (deficit) | 8,005 | 6,825 | ||
Total liabilities and stockholders' equity (deficit) | 17,512 | 18,090 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Current assets | ||||
Cash | 9 | 7 | $ 5 | $ 6 |
Short-term investments | 3 | 3 | ||
Accounts receivable, net | 14 | 15 | ||
Receivables from related parties, net | 112 | 526 | ||
Aircraft fuel, spare parts and supplies, net | 58 | 85 | ||
Prepaid expenses and other | 41 | 41 | ||
Total current assets | 237 | 677 | ||
Operating property and equipment | 279 | 279 | ||
Other assets | ||||
Other assets | 55 | 38 | ||
Total other assets | 55 | 38 | ||
Total assets | 571 | 994 | ||
Current liabilities | ||||
Current maturities of long-term debt and capital leases | 1 | |||
Accounts payable | 45 | 61 | ||
Payables to related parties, net | 125 | 239 | ||
Other accrued liabilities | 109 | 138 | ||
Total current liabilities | 279 | 439 | ||
Noncurrent liabilities | ||||
Pension and postretirement benefits | 40 | 40 | ||
Other liabilities | 49 | 317 | ||
Total noncurrent liabilities | 89 | 357 | ||
Stockholders' equity (deficit) | ||||
Additional paid-in capital | 199 | 199 | ||
Accumulated other comprehensive loss | (12) | (12) | ||
Retained earnings (deficit) | 16 | 11 | ||
Total stockholders' equity (deficit) | 203 | 198 | ||
Total liabilities and stockholders' equity (deficit) | $ 571 | $ 994 |
Financial Information for Sub61
Financial Information for Subsidiary Guarantors and Non-guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | $ 6,021 | $ 2,276 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (4,621) | (4,006) |
Purchases of short-term investments | (7,717) | (3,603) |
Sales of short-term investments | 6,167 | 4,993 |
Decrease in restricted cash and short-term investments | 64 | 160 |
Net proceeds from slot transaction | 307 | |
Proceeds from sale of an investment | 52 | |
Proceeds from sale of property and equipment | 23 | 24 |
Net cash provided by (used in) investing activities | (6,032) | (2,125) |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | (1,821) | (2,780) |
Proceeds from issuance of long-term debt | 4,463 | 2,407 |
Deferred financing costs | (69) | (68) |
Sale-leaseback transactions | 43 | 531 |
Exercise of stock options | 9 | |
Treasury stock repurchases | (2,411) | (155) |
Dividend payment | (206) | (72) |
Other financing activities | 34 | 15 |
Net cash provided by (used in) financing activities | 33 | (113) |
Net increase (decrease) in cash | 22 | 38 |
Cash at beginning of period | 994 | 1,140 |
Cash at end of period | 1,016 | 1,178 |
Eliminations and Reclassifications [Member] | ||
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (198) | |
Funds transferred to affiliates | 198 | |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | (176) | |
Funds transferred to affiliates, net | 176 | |
American Airlines Group (Parent Company Only) [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 2,073 | (523) |
Cash flows from investing activities: | ||
Purchases of short-term investments | (1) | |
Proceeds from sale of an investment | 52 | |
Net cash provided by (used in) investing activities | 51 | |
Cash flows from financing activities: | ||
Proceeds from issuance of long-term debt | 500 | 750 |
Deferred financing costs | (7) | (10) |
Exercise of stock options | 9 | |
Treasury stock repurchases | (2,411) | (155) |
Dividend payment | (206) | (72) |
Net cash provided by (used in) financing activities | (2,124) | 522 |
Net increase (decrease) in cash | (1) | |
Cash at beginning of period | 1 | 1 |
Cash at end of period | 1 | |
American Airlines, Inc. [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 4,093 | 2,034 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (3,962) | (2,746) |
Purchases of short-term investments | (5,061) | (2,526) |
Sales of short-term investments | 2,944 | 3,889 |
Decrease in restricted cash and short-term investments | (7) | 50 |
Net proceeds from slot transaction | 299 | |
Funds transferred to affiliates | (198) | |
Proceeds from sale of property and equipment | 18 | 5 |
Net cash provided by (used in) investing activities | (6,068) | (1,227) |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | (1,544) | (2,201) |
Proceeds from issuance of long-term debt | 3,554 | 1,098 |
Deferred financing costs | (57) | (56) |
Sale-leaseback transactions | 43 | 531 |
Net cash provided by (used in) financing activities | 1,996 | (628) |
Net increase (decrease) in cash | 21 | 179 |
Cash at beginning of period | 785 | 829 |
Cash at end of period | 806 | 1,008 |
US Airways Group [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 17 | |
Cash flows from financing activities: | ||
Net increase (decrease) in cash | 17 | |
Cash at beginning of period | 2 | 1 |
Cash at end of period | 19 | 1 |
US Airways [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | (216) | 730 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (602) | (1,027) |
Purchases of short-term investments | (2,655) | (1,076) |
Sales of short-term investments | 3,223 | 1,104 |
Decrease in restricted cash and short-term investments | 71 | 110 |
Net proceeds from slot transaction | 8 | |
Proceeds from sale of property and equipment | 19 | |
Net cash provided by (used in) investing activities | 37 | (862) |
Cash flows from financing activities: | ||
Payments on long-term debt and capital leases | (277) | (403) |
Proceeds from issuance of long-term debt | 409 | 559 |
Deferred financing costs | (5) | (2) |
Funds transferred to affiliates, net | (176) | |
Other financing activities | 34 | 15 |
Net cash provided by (used in) financing activities | 161 | (7) |
Net increase (decrease) in cash | (18) | (139) |
Cash at beginning of period | 199 | 303 |
Cash at end of period | 181 | 164 |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by (used in) operating activities | 54 | 35 |
Cash flows from investing activities: | ||
Capital expenditures and aircraft purchase deposits | (57) | (35) |
Purchases of short-term investments | (1) | |
Proceeds from sale of property and equipment | 5 | |
Net cash provided by (used in) investing activities | (52) | (36) |
Cash flows from financing activities: | ||
Net increase (decrease) in cash | 2 | (1) |
Cash at beginning of period | 7 | 6 |
Cash at end of period | $ 9 | $ 5 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) | Jan. 27, 2015 | Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2015 | Sep. 30, 2015 |
Subsequent Event [Line Items] | ||||||
Stock repurchase program, new authorized amount | $ 2,000,000,000 | $ 2,000,000,000 | ||||
Share repurchase program completion date | Sep. 30, 2015 | Dec. 31, 2016 | ||||
Dividends payable, record date | Aug. 10, 2015 | May 4, 2015 | Feb. 9, 2015 | |||
Dividends payable, payable date | Aug. 24, 2015 | May 18, 2015 | Feb. 23, 2015 | |||
Subsequent Event [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Stock repurchase program, new authorized amount | $ 2,000,000,000 | |||||
Share repurchase program completion date | Dec. 31, 2016 | |||||
Subsequent Event [Member] | Installment Three [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Dividends payable, record date | Nov. 5, 2015 | |||||
Dividends payable, declaration date | Oct. 31, 2015 | |||||
Dividends payable, payable date | Nov. 19, 2015 | |||||
Subsequent Event [Member] | Common Stock [Member] | Dividend Declared [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Dividends payable, per share | $ 0.10 |
Transactions with Related Par63
Transactions with Related Parties - Summary of Net Payables to (Receivables from) Related Parties (Detail) - American Airlines, Inc. [Member] - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Related Party Transaction [Line Items] | ||
Net payables to related parties | $ 565 | $ 2,563 |
American Airlines Group (Parent Company Only) [Member] | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | (1,994) | 40 |
US Airways Group [Member] | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | 476 | 320 |
Envoy Aviation Group (1) and other subsidiaries [Member] | ||
Related Party Transaction [Line Items] | ||
Net payables to related parties | $ 2,083 | $ 2,203 |
Transactions with Related Par64
Transactions with Related Parties - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Related Party Transaction [Line Items] | ||||
Total operating revenues | $ 10,706,000,000 | $ 11,139,000,000 | $ 31,360,000,000 | $ 32,490,000,000 |
American Airlines, Inc. [Member] | ||||
Related Party Transaction [Line Items] | ||||
Gain or loss from frequent flyer program | 0 | |||
Total operating revenues | 6,782,000,000 | $ 7,055,000,000 | 19,969,000,000 | $ 20,676,000,000 |
Net allocated expenses | 389,000,000 | 808,000,000 | ||
American Airlines, Inc. [Member] | AAdvantage Program [Member] | ||||
Related Party Transaction [Line Items] | ||||
Total operating revenues | $ 208,000,000 | $ 430,000,000 |