Operating Leases (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 (in millions):

		December 31,
	Balance Sheet Classification	2023			2022
Assets
Operating lease assets	Operating lease right-of-use assets	$	2,964		$	2,484
Liabilities
Current operating leases	Current maturities of operating leases	$	549		$	465
Long-term operating leases	Long-term operating leases	2,440			2,034
Total lease liabilities		$	2,989		$	2,499
Weighted-average remaining lease term
Operating leases		9 years			8 years
Weighted-average discount rate
Operating leases		6.23		%	5.39		%

Schedule of Lease Costs

The table below presents certain information related to lease costs for operating leases during the years ended December 31, 2023, 2022 and 2021 (in millions):

	Year Ended December 31,
	2023		2022		2021
Operating lease cost(a)	$	539	$	478	$	454
Variable lease cost(a)	304		219		284
Total lease costs	$	843	$	697	$	738

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(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, 2023 (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
2024	$	566
2025	563
2026	500
2027	434
2028	352
Thereafter	1,417
Total undiscounted minimum lease rentals	3,832
Less: amount of lease payments representing interest	(843)
Present value of future minimum lease rentals	2,989
Less: current obligations under operating leases	(549)
Long-term operating lease obligations	$	2,440