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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 1,918 $ 959
Investment securities 1,135 369
Receivables, less allowance (2020 - $2; 2019-$1) 98 231
Inventories, less allowance (2020 - $27; 2019-$22) 71 81
Prepaid expenses and other 123 146
Total current assets 3,345 1,786
PROPERTY AND EQUIPMENT    
Flight equipment 10,256 10,332
Pre-delivery deposits for flight equipment 420 433
Total flight equipment and pre-delivery deposits, gross 10,676 10,765
Less accumulated depreciation 2,888 2,768
Total flight equipment and pre-delivery deposits, net 7,788 7,997
Other property and equipment 1,202 1,145
Less accumulated depreciation 591 528
Total other property and equipment, net 611 617
Total property and equipment, net 8,399 8,614
Operating lease assets 804 912
OTHER ASSETS    
Investment securities 2 3
Restricted cash 51 59
Intangible assets, net of accumulated amortization of $360 and $319, at 2020 and 2019, respectively. 261 241
Other 544 303
Total other assets 858 606
TOTAL ASSETS 13,406 11,918
CURRENT LIABILITIES    
Accounts payable 365 401
Air traffic liability 1,122 1,119
Accrued salaries, wages and benefits 409 376
Other accrued liabilities 215 295
Operating lease liabilities 113 128
Current maturities of long-term debt and finance lease obligations 450 344
Total current liabilities 2,674 2,663
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS 4,413 1,990
LONG-TERM OPERATING LEASE LIABILITIES 752 690
DEFERRED TAXES AND OTHER LIABILITIES    
Deferred income taxes 922 1,251
Air traffic liability - non-current 616 481
Other 78 44
Total deferred taxes and other liabilities 1,616 1,776
COMMITMENTS AND CONTINGENCIES (Notes 11 & 12)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value; 25 shares authorized, none issued 0 0
Common stock, $0.01 par value; 900 shares authorized, 474 and 427 shares issued and 316 and 282 shares outstanding at 2020 and 2019, respectively 5 4
Treasury stock, at cost; 158 and 145 shares at 2020 and 2019, respectively (1,981) (1,782)
Additional paid-in capital 2,959 2,253
Retained earnings 2,968 4,322
Accumulated other comprehensive income 0 2
Total stockholders’ equity 3,951 4,799
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 13,406 $ 11,918