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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 1,921 $ 1,166
Investment securities 1,689 401
Receivables, less allowance (2024 - $6; 2023 - $3) 348 336
Inventories, less allowance (2024 - $43; 2023 - $35) 158 109
Prepaid expenses and other 142 148
Total current assets 4,258 2,160
PROPERTY AND EQUIPMENT    
Flight equipment 14,103 12,796
Pre-delivery deposits for flight equipment 315 393
Total flight equipment and pre-delivery deposits, gross 14,418 13,189
Less accumulated depreciation 4,243 4,021
Total flight equipment and pre-delivery deposits, net 10,175 9,168
Other property and equipment, gross 1,342 1,310
Less accumulated depreciation 861 803
Total other property and equipment, net 481 507
Total property and equipment, net 10,656 9,675
OPERATING LEASE ASSETS 550 593
OTHER ASSETS    
Investment securities 336 163
Restricted cash and cash equivalents [1] 227 151
Intangible assets, net of accumulated amortization (2024 - $580; 2023 - $518000000) 399 349
Other 415 762
Total other assets 1,377 1,425
TOTAL ASSETS 16,841 13,853
CURRENT LIABILITIES    
Accounts payable 619 641
Air traffic liability 1,572 1,463
Accrued salaries, wages and benefits 663 591
Other accrued liabilities 542 509
Current operating lease liabilities 93 117
Current maturities of long-term debt and finance lease obligations 392 307
Total current liabilities 3,881 3,628
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS 8,147 4,409
LONG-TERM OPERATING LEASE LIABILITIES 510 547
DEFERRED TAXES AND OTHER LIABILITIES    
Deferred income taxes 633 743
Air traffic liability - non-current 653 740
Other 376 449
Total deferred taxes and other liabilities 1,662 1,932
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, 513 and 499 shares issued and, 353 and 339 shares outstanding at 2024 and 2023, respectively 5 5
Treasury stock, at cost; 160 and 159 shares at 2024 and 2023, respectively (2,005) (1,999)
Additional paid-in capital 3,320 3,221
Retained earnings 1,319 2,114
Accumulated other comprehensive income (loss) 2 (4)
Total stockholders' equity 2,641 3,337
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 16,841 $ 13,853
[1] Restricted cash and cash equivalents primarily consists of principal and interest payments held as a reserve associated with the financing of the TrueBlue® program, and letters of credit.