| Segment Reporting Disclosure [Text Block] |
OIL REFINERY
Fuel expense is our single largest expense. In recent years, global demand for jet fuel and related products has increased while jet fuel refining capacity has decreased in the United States (particularly in the Northeast), resulting in increases in the refining margin reflected in the prices we paid for jet fuel. In June 2012, we purchased an oil refinery as part of our strategy to mitigate the increasing cost of the refining margin we pay.
Refinery Operations and Strategic Agreements
The refinery's production consists of jet fuel, as well as gasoline, diesel and other refined products ("non-jet fuel products"). We use several counterparties to exchange gas and diesel the refinery produces for jet fuel consumed in our airline operations. The gross fair value of the products exchanged under these agreements during the three and nine months ended September 30, 2014 was $1.4 billion and $3.9 billion, respectively, compared to $1.5 billion and $4.2 billion during the three and nine months ended September 30, 2013, respectively. A multi-year product exchange agreement with a significant counterparty, BP Products North America, Inc., was terminated early effective July 1, 2014, and replaced with another counterparty.
Segment Reporting
Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis. | | | | | | | | | | | | | | | | (in millions) | Airline | Refinery | | Intersegment Sales/Other | | Consolidated | Three Months Ended September 30, 2014 | | | | | | | Operating revenue: | $ | 11,114 |
| $ | 1,836 |
| | | | $ | 11,178 |
| Sales to airline segment | | | | $ | (345 | ) | (1) | | Exchanged products | | | | (1,393 | ) | (2) | | Sales of refined products to third parties | | | | (34 | ) | (3) | | Operating income(4) | 816 |
| 19 |
| | — |
| | 835 |
| Interest expense, net | 140 |
| — |
| | — |
| | 140 |
| Depreciation and amortization | 433 |
| 7 |
| | — |
| | 440 |
| Total assets, end of period | 50,648 |
| 1,292 |
| | — |
| | 51,940 |
| Capital expenditures | 449 |
| 8 |
| | — |
| | 457 |
| Three Months Ended September 30, 2013 | | | | | | | Operating revenue: | $ | 10,490 |
| $ | 1,892 |
| | | | $ | 10,490 |
| Sales to airline segment | | | | $ | (320 | ) | (1) | | Exchanged products | | | | (1,504 | ) | (2) | | Sales of refined products to third parties | | | | (68 | ) | (3) | | Operating income(4) | 1,560 |
| 3 |
| | — |
| | 1,563 |
| Interest expense, net | 176 |
| — |
| | — |
| | 176 |
| Depreciation and amortization | 413 |
| 5 |
| | — |
| | 418 |
| Total assets, end of period | 44,823 |
| 1,174 |
| | — |
| | 45,997 |
| Capital expenditures | 618 |
| 13 |
| | — |
| | 631 |
|
| | (1) | Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery. |
| | (2) | Represents value of products delivered under our strategic agreements, as discussed above, determined on a market price basis. |
| | (3) | Represents sales of refined products to third parties. These sales were at or near cost; accordingly, the margin on these sales is de minimis. |
| | (4) | Includes the impact of pricing arrangements between the airline segment and refinery segment with respect to the refinery's inventory price risk. |
| | | | | | | | | | | | | | | | (in millions) | Airline | Refinery | | Intersegment Sales/Other | | Consolidated | Nine Months Ended September 30, 2014 | | | | | | | Operating revenue: | $ | 30,651 |
| $ | 5,317 |
| | | | $ | 30,715 |
| Sales to airline segment | | | | $ | (981 | ) | (1) | | Exchanged products | | | | (3,920 | ) | (2) | | Sales of refined products to third parties | | | | (352 | ) | (3) | | Operating income (loss)(4) | 3,043 |
| (9 | ) | | — |
| | 3,034 |
| Interest expense, net | 460 |
| — |
| | — |
| | 460 |
| Depreciation and amortization | 1,315 |
| 18 |
| | — |
| | 1,333 |
| Capital expenditures | 1,552 |
| 37 |
| | — |
| | 1,589 |
| Nine Months Ended September 30, 2013 | | | | | | | Operating revenue: | $ | 28,697 |
| $ | 5,487 |
| | | | $ | 28,697 |
| Sales to airline segment | | | | $ | (927 | ) | (1) | | Exchanged products | | | | (4,172 | ) | (2) | | Sales of refined products to third parties | | | | (388 | ) | (3) | | Operating income (loss)(4) | 2,769 |
| (70 | ) | | — |
| | 2,699 |
| Interest expense, net | 526 |
| — |
| | — |
| | 526 |
| Depreciation and amortization | 1,225 |
| 13 |
| | — |
| | 1,238 |
| Capital expenditures | 1,591 |
| 25 |
| | — |
| | 1,616 |
|
| | (1) | Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery. |
| | (2) | Represents value of products delivered under our strategic agreements, as discussed above, determined on a market price basis. |
| | (3) | Represents sales of refined products to third parties. These sales were at or near cost; accordingly, the margin on these sales is de minimis. |
| | (4) | Includes the impact of pricing arrangements between the airline segment and refinery segment with respect to the refinery's inventory price risk. |
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