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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Fair Value, by Balance Sheet Grouping | Fair values of financial instruments on the unaudited Condensed Consolidated Balance Sheets:
| September 30, 2024
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |
U.S. government and agency securities | $ | 284 |  |  | $ | 283 |  |  | $ | — |  |  | $ | 567 |
Equity mutual funds | 7 |  |  | — |  |  | — |  |  | 7 |
Asset-backed securities | — |  |  | 114 |  |  | 8 |  |  | 122 |
Mortgage-backed securities | — |  |  | 93 |  |  | — |  |  | 93 |
Corporate notes and bonds | — |  |  | 587 |  |  | 5 |  |  | 592 |
Municipal securities and other | — |  |  | 25 |  |  | 6 |  |  | 31 |
Other fixed income securities | — |  |  | 78 |  |  | — |  |  | 78 |
Total Marketable securities | 291 |  |  | 1,180 |  |  | 19 |  |  | 1,490 |
Derivative instruments |  |  |  |  |  |  |
Fuel hedge contracts - call options | — |  |  | 1 |  |  | — |  |  | 1 |
Interest rate swap agreements | — |  |  | 4 |  |  | — |  |  | 4 |
Total Assets | $ | 291 |  |  | $ | 1,185 |  |  | $ | 19 |  |  | $ | 1,495 |
| December 31, 2023
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |
U.S. government and agency securities | $ | 387 |  |  | $ | — |  |  | $ | — |  |  | $ | 387 |
Equity mutual funds | 5 |  |  | — |  |  | — |  |  | 5 |
Foreign government bonds | — |  |  | 10 |  |  | — |  |  | 10 |
Asset-backed securities | — |  |  | 192 |  |  | — |  |  | 192 |
Mortgage-backed securities | — |  |  | 115 |  |  | — |  |  | 115 |
Corporate notes and bonds | — |  |  | 763 |  |  | — |  |  | 763 |
Municipal securities and other | — |  |  | 38 |  |  | — |  |  | 38 |
Total Marketable securities | 392 |  |  | 1,118 |  |  | — |  |  | 1,510 |
Derivative instruments |  |  |  |  |  |  |
Fuel hedge contracts - call options | — |  |  | 11 |  |  | — |  |  | 11 |
Interest rate swap agreements | — |  |  | 8 |  |  | — |  |  | 8 |
Total Assets | $ | 392 |  |  | $ | 1,137 |  |  | $ | — |  |  | $ | 1,529 |
Fixed-rate debt on the unaudited Condensed Consolidated Balance Sheets and the estimated fair value of long-term fixed-rate debt:
(in millions) | September 30, 2024 |  | December 31, 2023
Fixed-rate debt | $ | 2,947 |  |  | $ | 1,515 |
Estimated fair value | $ | 2,857 |  |  | $ | 1,382 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- References No definition available. + Details
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