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Long-term Debt, Short-term Borrowings and Finance Lease Obligations (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of long term debt
The carrying amounts and estimated fair values of our long-term debt, net of debt acquisition costs, at September 30, 2022 and December 31, 2021 were as follows (in millions):
September 30, 2022December 31, 2021
Carrying Value
Estimated Fair Value(1)
Carrying Value
Estimated Fair Value(1)
Public Debt
Fixed rate special facility bonds, due through 2036$42 $41 $42 $45 
Fixed rate enhanced equipment notes:
  2019-1 Series AA, due through 2032519 342 532 442 
  2019-1 Series A, due through 2028162 125 166 150 
2019-1 Series B, due through 202788 94 94 121 
2020-1 Series A, due through 2032567 467 587 634 
2020-1 Series B, due through 2028144 151 153 199 
Non-Public Debt
Fixed rate enhanced equipment notes, due through 202360 59 88 88 
Fixed rate equipment notes, due through 2028495 400 620 706 
Floating rate equipment notes, due through 202864 56 103 99 
Sale-leaseback transactions, due through 2024343 332 347 374 
Unsecured CARES Act Payroll Support Program loan, due through 2030259 134 259 219 
Unsecured Consolidated Appropriations Act Payroll Support Program Extension loan, due through 2031144 73 144 121 
Unsecured American Rescue Plan Act of 2021 Payroll Support loan, due through 2031132 67 132 111 
0.50% convertible senior notes due 2026
738 543 736 673 
Total(2)
$3,757 $2,884 $4,003 $3,982 
(1) The estimated fair values of our publicly held long-term debt are classified as Level 2 in the fair value hierarchy. The fair value of our non-public debt was estimated using a discounted cash flow analysis based on our borrowing rates for instruments with similar terms and therefore classified as Level 3 in the fair value hierarchy. Refer to Note 7 to our condensed consolidated financial statements for an explanation of the fair value hierarchy structure.
(2) Total excludes finance lease obligations of $2 million and $3 million at September 30, 2022 and December 31, 2021, respectively.