XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (54) $ (443)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Deferred income taxes 4 (101)
Depreciation 276 262
Amortization 30 26
Impairment of long-lived asset 0 5
Stock-based compensation 22 18
Changes in certain operating assets and liabilities 386 537
Other, net (1) (5)
Net cash provided by operating activities 663 299
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (439) (274)
Predelivery deposits for flight equipment (18) (65)
Purchase of held-to-maturity investments (37) (85)
Purchase of available-for-sale securities (155) (461)
Proceeds from the sale/maturity of held-to-maturity investments 7 2
Proceeds from the sale of available-for-sale securities 333 405
Payment for Spirit Airlines acquisition (66) 0
Other, net 0 (7)
Net cash used in investing activities (375) (485)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt 78 0
Proceeds from sale-leaseback transactions 228 0
Proceeds from issuance of common stock 31 29
Repayment of long-term debt and finance lease obligations (200) (189)
Acquisition of treasury stock (3) (6)
Other, net 0 (35)
Net cash provided by (used in) financing activities 134 (201)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 422 (387)
Cash, cash equivalents and restricted cash at beginning of period 1,188 2,077
Cash, cash equivalents and restricted cash at end of period [1] 1,610 1,690
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash payments for interest (32) (60)
Cash proceeds from income tax refunds (net of payments) 52 49
NON-CASH TRANSACTIONS    
Operating lease assets obtained under operating leases 14 60
Cash and cash equivalents 1,462 1,611
Restricted cash [2] 148 79
Total cash, cash equivalents and restricted cash [1] $ 1,610 $ 1,690
[1] (1) Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets:
[2] Restricted cash primarily consists of funds held in escrow for estimated workers' compensation obligations and other letters of credit.