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DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of debt

Summary of outstanding debt by category
			Maturity									Interest Rate(s) Per Annum at									March 31,			December 31,
(in millions)			Dates									March 31, 2023									2023			2022
Unsecured Payroll Support Program Loans			2030			to			2031			1.00%									$	3,496		$	3,496
Unsecured notes			2023			to			2029			2.90%			to			7.38%			2,997			2,997
Financing arrangements secured by SkyMiles assets:
SkyMiles Notes(1)			2023			to			2028			4.50%			and			4.75%			5,007			5,144
SkyMiles Term Loan(1)(2)			2023			to			2027			8.56%									2,478			2,820
NYTDC Special Facilities Revenue Bonds(1)			2024			to			2045			4.00%			to			5.00%			2,778			2,838
Financing arrangements secured by aircraft:
Certificates(1)			2023			to			2028			2.00%			to			8.00%			1,790			1,802
Notes(1)(2)			2023			to			2033			6.11%			to			7.22%			553			813
Financing arrangements secured by slots, gates and/or routes:
2020 Senior Secured Notes			2025									7.00%									1,274			1,542
2018 Revolving Credit Facility(2)			2024			to			2025			Undrawn									—			—
Other financings(1)(2)			2023			to			2030			2.51%			to			5.00%			67			67
Other revolving credit facilities(2)			2023									Undrawn									—			—
Total secured and unsecured debt																					$	20,440		$	21,519
Unamortized (discount)/premium and debt issue cost, net and other																					(120)			(138)
Total debt																					$	20,320		$	21,381
Less: current maturities																					(1,830)			(2,055)
Total long-term debt																					$	18,490		$	19,326

(1)Due in installments during the years shown above.

(2)Certain financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor), Secured Overnight Financing Rate ("SOFR") or another index rate plus a specified margin.

Schedule of estimated fair value of debt instruments

The fair value of debt shown below is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Debt is primarily classified as Level 2 within the fair value hierarchy.

Fair value of outstanding debt
(in millions)			March 31, 2023			December 31, 2022
Net carrying amount			$	20,320		$	21,381
Fair value			$	19,900		$	20,700

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