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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 1,042 $ 2,018
Investment securities 350 824
Receivables, less allowance (2022 - $4; 2021 - $3) 317 207
Inventories, less allowance (2022 - $29; 2021 - $24) 87 74
Prepaid expenses and other 120 122
Total current assets 1,916 3,245
PROPERTY AND EQUIPMENT    
Flight equipment 11,727 11,161
Pre-delivery deposits for flight equipment 415 337
Total flight equipment and pre-delivery deposits, gross 12,142 11,498
Less accumulated depreciation 3,578 3,227
Total flight equipment and pre-delivery deposits, net 8,564 8,271
Other property and equipment, gross 1,314 1,205
Less accumulated depreciation 731 662
Total other property and equipment, net 583 543
Total property and equipment, net 9,147 8,814
OPERATING LEASE ASSETS 660 729
OTHER ASSETS    
Investment securities 172 39
Restricted cash 146 59
Intangible assets, net of accumulated amortization of $455 and $405, at 2022 and 2021, respectively. 298 299
Other 706 457
Total other assets 1,322 854
TOTAL ASSETS 13,045 13,642
CURRENT LIABILITIES    
Accounts payable 532 499
Air traffic liability 1,581 1,618
Accrued salaries, wages and benefits 498 480
Other accrued liabilities 486 359
Current operating lease liabilities 97 106
Current maturities of long-term debt and finance lease obligations 554 355
Total current liabilities 3,748 3,417
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS 3,093 3,651
LONG-TERM OPERATING LEASE LIABILITIES 639 690
DEFERRED TAXES AND OTHER LIABILITIES    
Deferred income taxes 770 843
Air traffic liability - non-current 738 640
Other 494 552
Total deferred taxes and other liabilities 2,002 2,035
COMMITMENTS AND CONTINGENCIES (Notes 10 & 11)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value; 25 shares authorized, none issued 0 0
Common stock, $0.01 par value; 900 shares authorized, 486 and 478 shares issued and 327 and 320 shares outstanding at 2022 and 2021, respectively 5 5
Treasury stock, at cost; 159 and 158 shares at 2022 and 2021, respectively (1,995) (1,989)
Additional paid-in capital 3,129 3,047
Retained earnings 2,424 2,786
Accumulated other comprehensive income 0 0
Total stockholders’ equity 3,563 3,849
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 13,045 $ 13,642