XML 40 R27.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 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 September 30, 2025 |  |  |  |  |  |
Operating revenue | $ | 15,197 |  | $ | 1,795 |  |  | $ | (319) |  | (1) | $ | 16,673 |
Airline salaries and related costs | 4,443 |  |  |  |  |  |
Aircraft fuel and related costs | 2,570 |  |  |  |  |  |
Refinery cost of goods sold(2) |  | 1,611 |  |  |  |  |
Depreciation and amortization | 614 |  | 28 |  |  |  |  |
Other segment items(3) | 5,939 |  | 103 |  |  |  |  |
Operating income(4) | 1,631 |  | 53 |  |  |  |  | 1,684 |
Interest expense, net | 171 |  | 1 |  |  | (1) |  |  | 171 |
Other non-operating income | (264) |  |  |  |  |  | (264) |
Income before income taxes | 1,724 |  | 52 |  |  | 1 |  |  | 1,777 |
Total assets, end of period | 76,961 |  | 2,680 |  |  | (18) |  |  | 79,623 |
Capital expenditures | 1,151 |  | 9 |  |  |  |  | 1,160 |
Three Months Ended September 30, 2024 |  |  |  |  |  |
Operating revenue | $ | 14,594 |  | $ | 1,912 |  |  | $ | (829) |  | (1) | $ | 15,677 |
Airline salaries and related costs | 4,231 |  |  |  |  |  |
Aircraft fuel and related costs | 2,747 |  |  |  |  |  |
Refinery cost of goods sold(2) |  | 1,823 |  |  |  |  |
Depreciation and amortization | 643 |  | 29 |  |  |  |  |
Other segment items(3) | 5,543 |  | 93 |  |  |  |  |
Operating income/(loss)(4) | 1,430 |  | (33) |  |  |  |  | 1,397 |
Interest expense/(income), net | 173 |  | (8) |  |  | 8 |  |  | 173 |
Other non-operating income | (337) |  |  |  |  |  | (337) |
Income/(loss) before income taxes | 1,594 |  | (25) |  |  | (8) |  |  | 1,561 |
Total assets, end of period | 72,954 |  | 2,490 |  |  | (76) |  |  | 75,368 |
Capital expenditures | 1,312 |  | 16 |  |  |  |  | 1,328 |
(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
Nine Months Ended September 30, 2025 |  |  |  |  |  |
Operating revenue | $ | 43,681 |  | $ | 5,213 |  |  | $ | (1,533) |  | (1) | $ | 47,361 |
Airline salaries and related costs | 12,928 |  |  |  |  |  |
Aircraft fuel and related costs | 7,439 |  |  |  |  |  |
Refinery cost of goods sold(2) |  | 4,772 |  |  |  |  |
Depreciation and amortization | 1,823 |  | 84 |  |  |  |  |
Other segment items(3) | 17,178 |  | 315 |  |  |  |  |
Operating income(4) | 4,313 |  | 42 |  |  |  |  | 4,355 |
Interest expense, net | 521 |  | 3 |  |  | (3) |  |  | 521 |
Other non-operating income | (838) |  |  |  |  |  | (838) |
Income before income taxes | 4,630 |  | 39 |  |  | 3 |  |  | 4,672 |
Capital expenditures | 3,537 |  | 55 |  |  |  |  | 3,592 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |
Operating revenue | $ | 42,564 |  | $ | 6,011 |  |  | $ | (2,491) |  | (1) | $ | 46,084 |
Airline salaries and related costs | 12,035 |  |  |  |  |  |
Aircraft fuel and related costs | 8,157 |  |  |  |  |  |
Refinery cost of goods sold(2) |  | 5,563 |  |  |  |  |
Depreciation and amortization | 1,878 |  | 86 |  |  |  |  |
Other segment items(3) | 16,292 |  | 286 |  |  |  |  |
Operating income(4) | 4,202 |  | 76 |  |  |  |  | 4,278 |
Interest expense, net | 567 |  | 3 |  |  | (3) |  |  | 567 |
Other non-operating expense | 255 |  |  |  |  |  | 255 |
Income before income taxes | 3,380 |  | 73 |  |  | 3 |  |  | 3,456 |
Capital expenditures | 3,783 |  | 47 |  |  |  |  | 3,830 |
(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 September 30, |  | Nine Months Ended September 30,
(in millions) | 2025 | 2024 |  | 2025 | 2024
Sales to airline segment(1) | $ | (260) |  | $ | (369) |  |  | $ | (852) |  | $ | (1,147) |
Exchanged products(2) | (23) |  | (349) |  |  | (549) |  | (1,147) |
Sales of refined products | (36) |  | (111) |  |  | (132) |  | (197) |
Total operating revenue intersegment sales/other | $ | (319) |  | $ | (829) |  |  | $ | (1,533) |  | $ | (2,491) |
(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 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration