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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities as of December 31, 2023 and 2022, are as follows:
(in millions) |  | 2023 |  | 2022
DEFERRED TAX LIABILITIES: |  |  |  |
Accelerated depreciation |  | $ | 3,595 |  |  | $ | 3,279 |
Prepaid insurance |  | 258 |  |  | 238 |
Operating lease right-of-use assets |  | 276 |  |  | 311 |
Other |  | 91 |  |  | 154 |
Total deferred tax liabilities |  | 4,220 |  |  | 3,982 |
DEFERRED TAX ASSETS: |  |  |  |
Accrued employee benefits |  | 757 |  |  | 424 |
Loyalty program and flight credit liability |  | 599 |  |  | 659 |
Operating lease liabilities |  | 279 |  |  | 313 |
Net operating losses and tax credits (a) |  | 309 |  |  | 310 |
Other |  | 232 |  |  | 291 |
Total deferred tax assets |  | 2,176 |  |  | 1,997 |
Net deferred tax liability |  | $ | 2,044 |  |  | $ | 1,985 |
(a) As of December 31, 2023 and 2022, the Company had approximately $36 million and $43 million, respectively, of state net operating loss carryforwards (tax effected) to reduce future state taxable income. These state net operating loss carryforwards will expire in years 2025 through 2041 if unused. As of December 31, 2023 and 2022, the Company had $268 million and $275 million, respectively, of federal net operating loss carryforwards (tax effected) that may be carried forward indefinitely.
Components of the Income Tax Provision | The provision (benefit) for income taxes is composed of the following:
(in millions) |  | 2023 |  | 2022 |  | 2021
CURRENT: |  |  |  |  |  |
Federal |  | $ | (10) |  |  | $ | (36) |  |  | $ | 337 |
State |  | 19 |  |  | (3) |  |  | 33 |
Change in federal statutory rate |  | — |  |  | — |  |  | (2) |
Total current |  | 9 |  |  | (39) |  |  | 368 |
DEFERRED: |  |  |  |  |  |
Federal |  | 140 |  |  | 208 |  |  | (43) |
State |  | 19 |  |  | 20 |  |  | 23 |
Total deferred |  | 159 |  |  | 228 |  |  | (20) |
Income tax provision (benefit) |  | $ | 168 |  |  | $ | 189 |  |  | $ | 348 |
Income Tax Provision Reconciliation To Federal Income Tax Statutory Rate | The effective tax rate on Income (loss) before income taxes differed from the federal income tax statutory rate for the following reasons:
(in millions) |  | 2023 |  | 2022 |  | 2021 |
Tax at statutory U.S. tax rates |  | $ | 133 |  |  | $ | 153 |  |  | $ | 278 |  |
State income taxes, net of federal benefit |  | 30 |  |  | 12 |  |  | 45 |  |
Change in federal statutory tax rate |  | — |  |  | — |  |  | (2) |  |
Convertible debt repurchases |  | — |  |  | 31 |  |  | 21 |  |
DOT settlement |  | 22 |  |  | — |  |  | — |  |
Federal tax credits |  | (19) |  |  | (13) |  |  | (2) |  |
Other, net |  | 2 |  |  | 6 |  |  | 8 |  |
Total income tax provision (benefit) |  | $ | 168 |  |  | $ | 189 |  |  | $ | 348 |  |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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