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ACQUISITION OF HAWAIIAN HOLDINGS, INC. (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The total purchase price is calculated as follows:
(in millions, except per share price) | September 18, 2024
Number of shares of Hawaiian common stock issued and outstanding as of September 18, 2024 | 52 |
Multiplied by cash consideration for each share of common stock per the merger agreement | $ | 18.00 |
Cash consideration paid for common stock issued and outstanding as of September 18, 2024 | 936 |
Cash consideration paid for settlement of equity awards and change in control payments | 41 |
Total purchase consideration | $ | 977 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Provisional fair values of the assets acquired and the liabilities assumed as of the acquisition date, September 18, 2024, as of December 31, 2024 and September 30, 2024 were as follows:
(in millions) | December 31, 2024 |  | September 30, 2024
Cash and cash equivalents | $ | 286 |  |  | $ | 286 |
Restricted cash | 27 |  |  | 27 |
Marketable securities | 674 |  |  | 674 |
Receivables | 110 |  |  | 110 |
Inventories and supplies | 75 |  |  | 75 |
Prepaid expenses and other | 77 |  |  | 77 |
Property and equipment | 1,947 |  |  | 1,925 |
Operating lease assets | 228 |  |  | 239 |
Intangible assets | 799 |  |  | 799 |
Goodwill | 781 |  |  | 761 |
Other noncurrent assets | 97 |  |  | 97 |
Total assets | 5,101 |  |  | 5,070 |
Accounts payable | 57 |  |  | 57 |
Air traffic liability | 513 |  |  | 513 |
Other accrued liabilities | 331 |  |  | 331 |
Deferred revenue - current | 229 |  |  | 229 |
Current portion of operating lease liabilities | 65 |  |  | 65 |
Current portion of long-term debt and finance leases | 144 |  |  | 144 |
Long-Term Debt, net of current portion | 1,932 |  |  | 1,932 |
Long-term operating lease liabilities, net of current portion | 234 |  |  | 235 |
Deferred income taxes | 90 |  |  | 58 |
Deferred revenue - noncurrent | 308 |  |  | 308 |
Obligations for pension and post-retirement medical benefits | 153 |  |  | 153 |
Other liabilities | 68 |  |  | 68 |
Total liabilities | 4,124 |  |  | 4,093 |
Total purchase price | $ | 977 |  |  | $ | 977 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination |
| Fair Value |  | Weighted Average Amortization Period
| (in millions) |  | (in years)
Customer Relationships | $ | 285 |  |  | 18
Co-brand Partnerships | 122 |  |  | 3
Total finite-lived intangible assets | 407 |  |  |
Hawaiian Trademark | 390 |  |  | N/A
Slots | 2 |  |  | N/A
Total intangible assets | $ | 799 |  |  |
Business Acquisition, Pro Forma Information | The pro forma information includes adjustments for merger-related costs of $227 million assumed to have been incurred on January 1, 2023.
|  |  | Twelve Months Ended December 31,
(in millions) |  |  |  |  | 2024 |  | 2023
Revenue |  |  |  |  | $ | 13,779 |  |  | $ | 13,142 |
Net income (loss) |  |  |  |  | 265 |  |  | (235) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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