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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Benefit (Provision)

Components of income tax provision
			Year Ended December 31,
(in millions)			2024			2023			2022
Current tax provision:
Federal			$	—		$	—		$	—
State and local			(35)			(8)			(1)
International			(11)			(11)			(4)
Deferred tax (provision) benefit:
Federal			(1,038)			(896)			(525)
State and local			(117)			(84)			(66)
Income tax provision			$	(1,201)		$	(999)		$	(596)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal statutory income tax rate:

Reconciliation of statutory federal income tax rate to the effective income tax rate
			Year Ended December 31,
			2024			2023			2022
U.S. federal statutory income tax rate			21.0		%	21.0		%	21.0		%
State taxes, net of federal benefit			2.6			2.0			3.0
Permanent differences			1.0			0.7			1.0
Valuation allowance			1.9			(5.0)			7.3
Other			(0.7)			(0.9)			(1.1)
Effective income tax rate			25.8		%	17.8		%	31.2		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred income tax assets and liabilities
			December 31,
(in millions)			2024			2023
Deferred tax assets:
Net operating loss carryforwards			$	799		$	1,217
Capital loss carryforward			—			8
Pension, postretirement and other benefits			1,205			1,488
Investments			936			806
Deferred revenue			2,158			2,110
Lease liabilities			2,816			2,193
Other			608			709
Valuation allowance			(951)			(877)
Total deferred tax assets			$	7,571		$	7,654
Deferred tax liabilities:
Depreciation			$	7,040		$	5,570
Operating lease assets			1,369			1,533
Intangible assets			1,165			1,143
Other			78			73
Total deferred tax liabilities			$	9,652		$	8,319
Balance Sheet Position:
Other noncurrent assets			$	95		$	243
Deferred income taxes, net			2,176			908
Net deferred tax liabilities			$	2,081		$	665

Schedule of Valuation Allowance on Deferred Income Tax Assets

The following table presents the balance of our valuation allowance on our deferred income tax assets and the associated activity:

Valuation allowance activity
(in millions)			2024			2023
Balance at January 1			$	877		$	1,176
Tax provision			74			(299)
Balance at December 31			$	951		$	877

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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