XML 22 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (208) $ (716)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Deferred income taxes (67) (54)
Depreciation and amortization 168 158
Spirit special items, non-cash 0 450
Gain on sale-leaseback transactions (23) 0
Stock-based compensation 12 12
Changes in certain operating assets and liabilities 215 331
Other, net 17 23
Net cash provided by operating activities 114 204
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (176) (427)
Pre-delivery deposits for flight equipment (11) (39)
Proceeds from the maturities of held-to-maturity investments 22 19
Purchase of available-for-sale securities (50) (1)
Proceeds from the sale of available-for-sale securities 528 75
Payment for Spirit Airlines acquisition 0 (22)
Proceeds from the sale of assets and sale-leaseback transactions 44 0
Other, net 0 (4)
Net cash provided by (used in) investing activities 357 (399)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from failed sale-leaseback transactions 0 332
Repayment of long-term debt and finance lease obligations (81) (58)
Acquisition of treasury stock (5) (3)
Net cash (used in) provided by financing activities (86) 271
INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS 385 76
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 2,148 1,317
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period [1] 2,533 1,393
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash payments for interest, net (97) (24)
Cash proceeds (payments) for income taxes, net 2 (6)
NON-CASH TRANSACTIONS    
Operating lease assets acquired under operating leases 366 6
Flight equipment acquired under finance leases 10 20
Cash and cash equivalents 2,297 1,237
Restricted cash and cash equivalents [2] 236 156
Total cash, cash equivalents, restricted cash, and restricted cash equivalents [1] $ 2,533 $ 1,393
[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, funds held for workers compensation obligations and various letters of credit.