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SEGMENTS (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
Financial information by segment
(in millions) | Airline | Refinery |  | Intersegment Sales/Other |  | Consolidated
Three Months Ended June 30, 2024 |  |  |  |  |  |
Operating revenue | $ | 15,407 |  | $ | 2,051 |  |  | $ | (800) |  | (1) | $ | 16,658 |
Depreciation and amortization | 620 |  | 30 |  |  | (30) |  | (2) | 620 |
Operating income | 2,207 |  | 60 |  | (2) | — |  |  | 2,267 |
Interest expense, net | 188 |  | 6 |  |  | (6) |  |  | 188 |
Total assets, end of period | 72,938 |  | 2,337 |  |  | (78) |  |  | 75,197 |
Capital expenditures | 1,292 |  | 16 |  |  | — |  |  | 1,308 |
Three Months Ended June 30, 2023 |  |  |  |  |  |
Operating revenue | $ | 14,613 |  | $ | 2,037 |  |  | $ | (1,072) |  | (1) | $ | 15,578 |
Depreciation and amortization | 573 |  | 23 |  |  | (23) |  | (2) | 573 |
Operating income | 2,447 |  | 44 |  | (2) | — |  |  | 2,491 |
Interest expense, net | 203 |  | 3 |  |  | (3) |  |  | 203 |
Total assets, end of period | 70,265 |  | 3,309 |  |  | (77) |  |  | 73,497 |
Capital expenditures | 1,422 |  | 30 |  |  | — |  |  | 1,452 |
(in millions) | Airline | Refinery |  | Intersegment Sales/Other |  | Consolidated
Six Months Ended June 30, 2024 |  |  |  |  |  |
Operating revenue | $ | 27,970 |  | $ | 4,100 |  |  | $ | (1,664) |  | (1) | $ | 30,406 |
Depreciation and amortization | 1,235 |  | 57 |  |  | (57) |  | (2) | 1,235 |
Operating income | 2,773 |  | 108 |  | (2) | — |  |  | 2,881 |
Interest expense, net | 394 |  | 11 |  |  | (11) |  |  | 394 |
Capital expenditures | 2,472 |  | 30 |  |  | — |  |  | 2,502 |
Six Months Ended June 30, 2023 |  |  |  |  |  |
Operating revenue | $ | 26,455 |  | $ | 4,388 |  |  | $ | (2,506) |  | (1) | $ | 28,337 |
Depreciation and amortization | 1,137 |  | 46 |  |  | (46) |  | (2) | 1,137 |
Operating income | 1,949 |  | 266 |  | (2) | — |  |  | 2,215 |
Interest expense, net | 430 |  | 8 |  |  | (8) |  |  | 430 |
Capital expenditures | 2,393 |  | 59 |  |  | — |  |  | 2,452 |
(1)See table below for detail of the intersegment operating revenue amounts. (2)Refinery segment operating results, including depreciation and amortization, are included within aircraft fuel and related taxes in our income statement.
Operating revenue intersegment sales/other |  |
| Three Months Ended June 30, | Six Months Ended June 30,
(in millions) | 2024 | 2023 | 2024 | 2023
Sales to airline segment(1) | $ | (393) |  | $ | (365) |  | $ | (780) |  | $ | (961) |
Exchanged products(2) | (361) |  | (618) |  | (798) |  | (1,330) |
Sales of refined products | (46) |  | (89) |  | (86) |  | (215) |
Total operating revenue intersegment sales/other | $ | (800) |  | $ | (1,072) |  | $ | (1,664) |  | $ | (2,506) |
(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 for jet fuel from the refinery by reference to the market index for the primary delivery location, which is New York Harbor. (2)Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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