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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Summary of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows:
| December 31,
| 2024 |  | 2023
Operating Leases | (In millions)
Operating lease right-of-use assets | $ | 1,098 |  |  | $ | 899 |
Operating lease liabilities | $ | 1,135 |  |  | $ | 838 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 208 |  |  | $ | 183 |
Accumulated depreciation | (85) |  |  | (50) |
Property and equipment, net | $ | 123 |  |  | $ | 133 |
Loans payable and other financial liabilities | $ | 122 |  |  | $ | 131 |
Summary of Weighted Average Remaining Lease Term and Discount Rate | The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of December 31, 2024:
| December 31,
| 2024 |  | 2023
Weighted average remaining lease term |  |  |
Operating leases | 8 Years |  | 8 Years
Finance leases | 3 Years |  | 3 Years
Weighted average discount rate (1) |  |  |
Operating leases | 10 | % |  | 9 | %
Finance leases | 10 | % |  | 14 | %
(1) Includes discount rates of leases in local currency and U.S dollar.
Summary of Components of Lease Expense | The components of lease expense were as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In millions)
Operating lease cost | $ | 228 |  |  | $ | 173 |  |  | $ | 128 |
Finance lease cost: |  |  |  |  |
Depreciation of property and equipment | 35 |  |  | 22 |  |  | 18 |
Interest on lease liabilities | 15 |  |  | 13 |  |  | 8 |
Total finance lease cost | $ | 50 |  |  | $ | 35 |  |  | $ | 26 |
Variable lease cost (1) | $ | 25 |  |  | $ | 35 |  |  | $ | 17 |
(1) Variable lease payments are expensed as incurred and include charges such as flight hours above minimum, fuel, among others.
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: | (In millions)
Operating cash flows from operating leases | $ | 189 |  |  | $ | 168 |  |  | $ | 117 |
Financing cash flows from finance leases | 51 |  |  | 33 |  |  | 20 |
Summary of Maturities of Lease Liabilities | The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates and internal rates of return to calculate the lease liabilities for the operating and finance leases, respectively:
Year ending | Operating Leases |  | Finance Leases
| (In millions)
One year or less | $ | 258 |  |  | $ | 49 |
One year to two years | 236 |  |  | 42 |
Two years to three years | 213 |  |  | 34 |
Three years to four years | 197 |  |  | 15 |
Four years to five years | 167 |  |  | 1 |
Thereafter | 527 |  |  | — |
Total lease payments | 1,598 |  |  | 141 |
Less imputed interest | (463) |  |  | (19) |
Total | $ | 1,135 |  |  | $ | 122 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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