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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Lease-Related Assets and Liabilities | Lease-related assets and liabilities recorded on the Consolidated Balance Sheet were as follows:
(in millions) | Balance Sheet location | December 31, 2024 |  | December 31, 2023
Assets |  |  |  |
Operating | Operating lease right-of-use assets (net) | $ | 1,369 |  |  | $ | 1,223 |
Finance | Property and equipment (net of allowance for depreciation and amortization of $452 million and $477 million) | 102 |  |  | 125 |
Total lease assets |  | $ | 1,471 |  |  | $ | 1,348 |
Liabilities |  |  |  |
Current |  |  |  |
Operating | Current operating lease liabilities | $ | 328 |  |  | $ | 208 |
Finance | Current maturities of long-term debt | 22 |  |  | 29 |
Noncurrent |  |  |  |
Operating | Noncurrent operating lease liabilities | 1,031 |  |  | 985 |
Finance | Long-term debt less current maturities | 69 |  |  | 75 |
Total lease liabilities |  | $ | 1,450 |  |  | $ | 1,297 |
Components of Lease Cost | The components of lease costs, included in the Consolidated Statement of Income, were as follows:
(in millions) | Year ended December 31, 2024 |  | Year ended December 31, 2023 |  | Year ended December 31, 2022
Operating lease cost - aircraft (a) | $ | 186 |  |  | $ | 186 |  |  | $ | 188 |
Operating lease cost - other | 77 |  |  | 89 |  |  | 84 |
Short-term lease cost | 2 |  |  | 2 |  |  | 2 |
Variable lease cost | 1,916 |  |  | 1,733 |  |  | 1,447 |
Amortization of finance lease liabilities | 35 |  |  | 44 |  |  | 106 |
Interest on finance lease liabilities | 4 |  |  | 5 |  |  | 15 |
Total net lease cost | $ | 2,220 |  |  | $ | 2,059 |  |  | $ | 1,842 |
(a) Net of sublease income of $1 million, $7 million, and $17 million for the years ended December 31, 2024, 2023, and 2022. Supplemental cash flow information related to leases, included in the Consolidated Statement of Cash Flows, was as follows:
(in millions) | Year ended December 31, 2024 |  | Year ended December 31, 2023 |  | Year ended December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows for operating leases | $ | 258 |  |  | $ | 251 |  |  | $ | 303 |
Operating cash flows for finance leases | 4 |  |  | 5 |  |  | 16 |
Financing cash flows for finance leases | 26 |  |  | 32 |  |  | 78 |
The table below presents additional information related to the Company's leases:
Weighted average remaining lease term | December 31, 2024 |  | December 31, 2023
Operating leases | 6 years |  | 8 years
Finance leases | 4 years |  | 5 years
Weighted average discount rate |  |  |
Operating leases | 4.1 | % |  | 4.0 | %
Finance leases | 4.0 | % |  | 3.9 | %
Finance Lease Maturity | As of December 31, 2024, maturities of lease liabilities were as follows:
(in millions) | Operating leases |  | Finance leases |  |  |  |
2025 | $ | 368 |  |  | $ | 25 |  |  |  |  |
2026 | 328 |  |  | 23 |  |  |  |  |
2027 | 240 |  |  | 23 |  |  |  |  |
2028 | 174 |  |  | 15 |  |  |  |  |
2029 | 138 |  |  | 10 |  |  |  |  |
Thereafter | 317 |  |  | 3 |  |  |  |  |
Total lease payments | $ | 1,565 |  |  | $ | 99 |  |  |  |  |
Less imputed interest | (206) |  |  | (8) |  |  |  |  |
Total lease obligations | $ | 1,359 |  |  | $ | 91 |  |  |  |  |
Less current obligations | (328) |  |  | (22) |  |  |  |  |
Long-term lease obligations | $ | 1,031 |  |  | $ | 69 |  |  |  |  |
Operating Lease Maturity | As of December 31, 2024, maturities of lease liabilities were as follows:
(in millions) | Operating leases |  | Finance leases |  |  |  |
2025 | $ | 368 |  |  | $ | 25 |  |  |  |  |
2026 | 328 |  |  | 23 |  |  |  |  |
2027 | 240 |  |  | 23 |  |  |  |  |
2028 | 174 |  |  | 15 |  |  |  |  |
2029 | 138 |  |  | 10 |  |  |  |  |
Thereafter | 317 |  |  | 3 |  |  |  |  |
Total lease payments | $ | 1,565 |  |  | $ | 99 |  |  |  |  |
Less imputed interest | (206) |  |  | (8) |  |  |  |  |
Total lease obligations | $ | 1,359 |  |  | $ | 91 |  |  |  |  |
Less current obligations | (328) |  |  | (22) |  |  |  |  |
Long-term lease obligations | $ | 1,031 |  |  | $ | 69 |  |  |  |  |

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