XML 64 R36.htm IDEA: XBRL DOCUMENT v3.25.4
Operating Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Supplemental Balance Sheet Information
The table below presents the lease-related assets and liabilities recorded on the Company’s consolidated balance sheets as of December 31, 2025 and 2024 (in millions):
December 31,
Balance Sheet Classification20252024
Assets
Operating lease assetsOperating lease right-of-use assets$4,806 $3,930 
Liabilities
Current operating leasesCurrent maturities of operating leases$779 $664 
Long-term operating leasesLong-term operating leases4,070 3,302 
Total lease liabilities$4,849 $3,966 
Weighted-average remaining lease term
Operating leases8 years8 years
Weighted-average discount rate
Operating leases6.46%6.28%
Schedule of Lease Costs
The table below presents certain information related to lease costs for operating leases during the years ended December 31, 2025, 2024 and 2023 (in millions):
Year Ended December 31,
202520242023
Operating lease cost(a)
$744 $643 $539 
Variable lease cost(a)
462 383 304 
Total lease costs$1,206 $1,026 $843 
_________________
(a)    Expenses are included within aircraft rent, station operations, maintenance, materials and repairs and other operating within the Company’s consolidated statements of operations.
Reconciliation of Undiscounted Cash Flows
The table below reconciles the undiscounted cash flows as of December 31, 2025 (in millions) for each of the next five years and total of the remaining years to the operating lease liability recorded on the Company’s consolidated balance sheet:
Total
Operating Leases
2026$806 
2027799 
2028754 
2029681 
2030648 
Thereafter2,784 
Total undiscounted minimum lease rentals6,472 
Less: amount of lease payments representing interest(1,623)
Present value of future minimum lease rentals4,849 
Less: current obligations under operating leases(779)
Long-term operating lease obligations$4,070