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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 1,237 $ 1,166
Investment securities 326 401
Receivables, less allowance (2024 - $4; 2023 - $3) 362 336
Inventories, less allowance (2024 - $37; 2023 - $35) 111 109
Prepaid expenses and other 128 148
Total current assets 2,164 2,160
PROPERTY AND EQUIPMENT    
Flight equipment 13,050 12,796
Pre-delivery deposits for flight equipment 389 393
Total flight equipment and pre-delivery deposits, gross 13,439 13,189
Less accumulated depreciation 3,974 4,021
Total flight equipment and pre-delivery deposits, net 9,465 9,168
Other property and equipment, gross 1,300 1,310
Less accumulated depreciation 821 803
Total other property and equipment, net 479 507
Total property and equipment, net 9,944 9,675
OPERATING LEASE ASSETS 571 593
OTHER ASSETS    
Investment securities 145 163
Restricted cash 156 151
Intangible assets, net of accumulated amortization (2024 - $534; 2023 - $518) 383 349
Other 358 762
Total other assets 1,042 1,425
TOTAL ASSETS 13,721 13,853
CURRENT LIABILITIES    
Accounts payable 647 641
Air traffic liability 1,723 1,463
Accrued salaries, wages and benefits 597 591
Other accrued liabilities 613 509
Current operating lease liabilities 112 117
Current maturities of long-term debt and finance lease obligations 330 307
Total current liabilities 4,022 3,628
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS 4,682 4,409
LONG-TERM OPERATING LEASE LIABILITIES 528 547
DEFERRED TAXES AND OTHER LIABILITIES    
Deferred income taxes 689 743
Air traffic liability - non-current 743 740
Other 424 449
Total deferred taxes and other liabilities 1,856 1,932
COMMITMENTS AND CONTINGENCIES (Note 6)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value; 25 shares authorized, none issued 0 0
Common stock, $0.01 par value; 900 shares authorized, 500 and 499 shares issued and 340 and 339 shares outstanding at March 31, 2024 and December 31, 2023, respectively 5 5
Treasury stock, at cost; 160 and 159 shares at March 31, 2024 and December 31, 2023, respectively (2,002) (1,999)
Additional paid-in capital 3,233 3,221
Retained earnings 1,398 2,114
Accumulated other comprehensive loss (1) (4)
Total stockholders’ equity 2,633 3,337
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 13,721 $ 13,853