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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (751) $ (207)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Deferred income taxes (69) (20)
Depreciation and amortization 487 462
Spirit special items, non-cash 450 0
Gain on debt extinguishments (22) 0
Stock-based compensation 30 31
Changes in certain operating assets and liabilities 49 230
Other, net (13) (10)
Net cash provided by operating activities 161 486
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,127) (750)
Pre-delivery deposits for flight equipment (75) (23)
Purchase of held-to-maturity investments (499) (64)
Proceeds from the maturities of held-to-maturity investments 559 9
Purchase of available-for-sale securities (1,311) (435)
Proceeds from the sale of available-for-sale securities 309 437
Payment for Spirit Airlines acquisition (22) (98)
Proceeds from the sale of assets 8 0
Other, net (7) (3)
Net cash used in investing activities (2,165) (927)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt, net of issuance costs 3,486 78
Proceeds from sale-leaseback transactions 607 523
Proceeds from issuance of common stock 31 31
Repayment of long-term debt and finance lease obligations (631) (254)
Acquisition of treasury stock (5) (3)
Net cash provided by financing activities 3,488 375
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS 1,484 (66)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 1,317 1,188
Cash, cash equivalents, and restricted cash and cash equivalents at end of period [1] 2,801 1,122
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash payments for interest, net 85 39
Cash payments for income taxes, net (6) (50)
NON-CASH TRANSACTIONS    
Operating lease assets acquired under operating leases 40 14
Flight equipment acquired under finance leases 71 0
Cash and cash equivalents 2,594 973
Restricted cash and cash equivalents [2] 207 149
Total cash, cash equivalents, restricted cash, and restricted cash equivalents [1] $ 2,801 $ 1,122
[1]
(1) Refer to the table below for a reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents.
[2] Restricted cash and restricted cash equivalents primarily consists of principal and interest payments held as a reserve associated with the financing of the TrueBlue® program, and other letters of credit.