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SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025
Operating revenue			$	15,507		$	1,720					$	(579)		(1)			$	16,648
Airline salaries and related costs			4,402
Aircraft fuel and related costs			2,458
Refinery cost of goods sold(2)						1,598
Depreciation and amortization			602			28
Other segment items(3)			5,933			104
Operating income/(loss)(4)			2,112			(10)												2,102
Interest expense, net			172			1						(1)						172
Other non-operating income			(644)															(644)
Income/(loss) before income taxes			2,584			(11)						1						2,574
Total assets, end of period			75,989			2,420						(14)						78,395
Capital expenditures			1,200			9												1,209
Three Months Ended June 30, 2024
Operating revenue			$	15,407		$	2,051					$	(800)		(1)			$	16,658
Airline salaries and related costs			4,012
Aircraft fuel and related costs			2,813
Refinery cost of goods sold(2)						1,868
Depreciation and amortization			620			30
Other segment items(3)			5,755			93
Operating income(4)			2,207			60												2,267
Interest expense, net			188			6						(6)						188
Other non-operating expense			306															306
Income before income taxes			1,713			54						6						1,773
Total assets, end of period			72,938			2,337						(78)						75,197
Capital expenditures			1,292			16												1,308

(1)See table below for detail of the intersegment operating revenue amounts.

(2)Refinery cost of goods sold are included within aircraft fuel and related taxes and ancillary businesses and refinery in our income statement.

(3)The nature of other segment items for the airline segment are shown on our income statement and for the refinery segment include salaries and related costs, maintenance, utilities and other expenses.

(4)Refinery segment operating results are included within aircraft fuel and related taxes in our income statement.

Financial information by segment
(in millions)			Airline			Refinery						Intersegment Sales/Other						Consolidated
Six Months Ended June 30, 2025
Operating revenue			$	28,485		$	3,418					$	(1,215)		(1)			$	30,688
Airline salaries and related costs			8,485
Aircraft fuel and related costs			4,869
Refinery cost of goods sold(2)						3,160
Depreciation and amortization			1,209			56
Other segment items(3)			11,241			212
Operating income/(loss)(4)			2,681			(10)												2,671
Interest expense, net			350			3						(3)						350
Other non-operating income			(574)															(574)
Income/(loss) before income taxes			2,905			(13)						3						2,895
Capital expenditures			2,387			46												2,433
Six Months Ended June 30, 2024
Operating revenue			$	27,970		$	4,100					$	(1,664)		(1)			$	30,406
Airline salaries and related costs			7,803
Aircraft fuel and related costs			5,410
Refinery cost of goods sold(2)						3,741
Depreciation and amortization			1,235			57
Other segment items(3)			10,749			194
Operating income(4)			2,773			108												2,881
Interest expense, net			394			11						(11)						394
Other non-operating expense			592															592
Income before income taxes			1,787			97						11						1,895
Capital expenditures			2,472			30												2,502

(1)See table below for detail of the intersegment operating revenue amounts.

(2)Refinery cost of goods sold are included within aircraft fuel and related taxes and ancillary businesses and refinery in our income statement.

(3)The nature of other segment items for the airline segment are shown on our income statement and for the refinery segment include salaries and related costs, maintenance, utilities and other expenses.

(4)Refinery segment operating results are included within aircraft fuel and related taxes in our income statement.

Intersegment Sales/Other
			Three Months Ended June 30,									Six Months Ended June 30,
(in millions)			2025			2024						2025			2024
Sales to airline segment(1)			$	(332)		$	(393)					$	(592)		$	(780)
Exchanged products(2)			(186)			(361)						(527)			(798)
Sales of refined products			(61)			(46)						(96)			(86)
Total operating revenue intersegment sales/other			$	(579)		$	(800)					$	(1,215)		$	(1,664)

(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.

X

- 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

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- References

No definition available.

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