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SPECIAL CHARGES (CREDITS) | 9 Months Ended
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Sep. 30, 2025
Restructuring and Related Activities [Abstract] |
SPECIAL CHARGES (CREDITS) | SPECIAL CHARGES (CREDITS) For the three and nine months ended September 30, operating and nonoperating special charges (credits) and unrealized losses on investments in the statements of consolidated operations consisted of the following (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Labor contract ratification bonuses | $ | — |  |  | $ | — |  |  | $ | 561 |  |  | $ | — |
(Gains) losses on sale of assets and other special charges | (73) |  |  | (5) |  |  | (295) |  |  | 44 |
Total operating special charges (credits) | (73) |  |  | (5) |  |  | 266 |  |  | 44 |
Nonoperating unrealized losses on investments, net | 13 |  |  | 90 |  |  | 8 |  |  | 160 |
Nonoperating debt extinguishment and modification fees | 20 |  |  | 75 |  |  | 20 |  |  | 110 |
Total nonoperating special charges and unrealized losses on investments, net | 33 |  |  | 165 |  |  | 28 |  |  | 270 |
Total operating and nonoperating special charges (credits) and unrealized losses on investments, net | (40) |  |  | 160 |  |  | 295 |  |  | 314 |
Income tax benefit, net of valuation allowance | — |  |  | (15) |  |  | (127) |  |  | (34) |
Total operating and nonoperating special charges (credits) and unrealized losses on investments, net of income taxes | $ | (40) |  |  | $ | 145 |  |  | $ | 168 |  |  | $ | 280 |
Operating and nonoperating special charges (credits) and unrealized losses on investments included the following: During the three and nine months ended September 30, 2025, the Company recorded $73 million and $295 million, respectively, of net gains on sale of assets and other special charges, which were primarily comprised of $75 million and $336 million, respectively, of gains on various aircraft sale-leaseback transactions. During the nine months ended September 30, 2025, the Company also recorded a $561 million special charge in connection with a labor contract ratification bonus for the Company's employees represented by the AFA. See Note 9 for more information related to the negotiations.

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- Definition The entire disclosure for cost incurred and expensed by acquirer in connection with business combination. Includes, but is not limited to, business and system integration-related, employee-related, restructuring, and other related costs. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-7 + Details
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