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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Summary of Long-Term Debt |
(In millions) |  | Maturity Dates |  | Interest Rate(s) at December 31, 2024 |  | At December 31,
|  |  |  | 2024 |  | 2023
Equipment Notes (a) |  | 2025 | — | 2037 |  | 2.70 | % | — | 6.51 | % |  | $ | 12,983 |  |  | $ | 12,508 |
MileagePlus Senior Secured Notes |  |  | 2027 |  |  |  | 6.50% |  |  | 1,900 |  |  | 2,660 |
MileagePlus Term Loan Faci lity |  |  | n/a |  |  |  | n/a |  |  | — |  |  | 2,100 |
2026 and 2029 Notes |  | 2026 | — | 2029 |  | 4.38 | % | — | 4.63 | % |  | 4,000 |  |  | 4,000 |
2021 Term Loan s |  |  | n/a |  |  |  | n/a |  |  | — |  |  | 3,870 |
2024 Term Loans (b) |  |  | 2031 |  |  |  | 6.63% |  |  | 2,082 |  |  | — |
Unsecured |  |  |  |  |  |  |  |  |  |  |  |
Notes |  |  | 2025 |  |  |  | 4.88% |  |  | 315 |  |  | 596 |
PSP Notes (c) |  | 2030 | — | 2031 |  |  | 1.00% |  |  | 3,181 |  |  | 3,181 |
Other unsecured debt |  | 2027 | — | 2029 |  | 4.00 | % | — | 5.75 | % |  | 376 |  |  | 437 |
|  |  |  |  |  |  |  |  |  | 24,837 |  |  | 29,352 |
Less: unamortized debt discount, premiums and debt issuance costs |  |  |  |  |  |  |  |  |  | (184) |  |  | (277) |
Less: current portion of long-term debt |  |  |  |  |  |  |  |  |  | (2,973) |  |  | (4,018) |
Long-term debt, net |  |  |  |  |  |  |  |  |  | $ | 21,680 |  |  | $ | 25,057 |
(a)Financing includes variable rate debt based on the Secured Overnight Financing Rate ("SOFR") (or another index rate), generally subject to a floor, plus a specified margin of 0.64% to 2.00%. (b)Financing includes variable rate debt based on SOFR (or another index rate), subject to a floor, plus a specified margin of 2.00%. (c)The PSP Notes include $1.50 billion of indebtedness evidenced by a 10-year senior unsecured promissory note with Treasury provided under PSP, $0.9 billion of indebtedness evidenced by a 10-year senior unsecured promissory note issued to Treasury pursuant to PSP2 and $0.8 billion of indebtedness evidenced by a 10-year senior unsecured promissory note issued to Treasury pursuant to PSP3. These PSP Notes have a rate of 1.00% in years 1 through 5, and a rate of the SOFR plus 2.00% in years 6 through 10.
Contractual Principal Payments under Outstanding Long-Term Debt Agreements | The table below presents the Company's contractual principal payments (not including debt discount or debt issuance costs) as of December 31, 2024 under then-outstanding long-term debt agreements (in millions):
|  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | After 2029 |  | Total
Contractual principal payments |  | $ | 2,973 |  |  | $ | 4,793 |  |  | $ | 2,326 |  |  | $ | 1,791 |  |  | $ | 2,892 |  |  | $ | 10,062 |  |  | $ | 24,837 |

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