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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Reconciliation of cash, cash equivalents, and restricted cash | The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets ("balance sheets") that sum to the total of the same such amounts shown within the Consolidated Statements of Cash Flows ("cash flows statement").
Reconciliation of cash, cash equivalents and restricted cash
| December 31,
(in millions) | 2023 |  | 2022 |  | 2021
Current assets: |  |  |  |  |
Cash and cash equivalents | $ | 2,741 |  |  | $ | 3,266 |  |  | $ | 7,933 |
Restricted cash included in prepaid expenses and other | 199 |  |  | 138 |  |  | 163 |
Noncurrent assets: |  |  |  |  |
Restricted cash included in other noncurrent assets | 455 |  |  | 69 |  |  | 473 |
Total cash, cash equivalents and restricted cash | $ | 3,395 |  |  | $ | 3,473 |  |  | $ | 8,569 |
Summary of property and equipment by classification | The following table summarizes our property and equipment:
Property and equipment by classification |  |  |
|  | December 31,
(in millions, except for estimated useful life) | Estimated Useful Life | 2023 | 2022
Flight equipment(1) | 25-34 years | $ | 40,976 |  | $ | 38,091 |
Ground property and equipment | 3-40 years | 9,986 |  | 8,996 |
Information technology-related assets | 3-15 years | 3,307 |  | 3,375 |
Flight and ground equipment under finance leases | Shorter of lease term or estimated useful life | 1,862 |  | 1,950 |
Advance payments for equipment |  | 1,062 |  | 1,067 |
Less: accumulated depreciation and amortization(2) |  | (21,707) |  | (20,370) |
Total property and equipment, net |  | $ | 35,486 |  | $ | 33,109 |
(1)Includes aircraft and associated engines and parts. (2)Includes accumulated amortization for flight and ground equipment under finance leases in the amount of $525 million and $463 million at December 31, 2023 and 2022, respectively.

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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