Operating Leases (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023 (in millions):

		December 31,
	Balance Sheet Classification	2024			2023
Assets
Operating lease assets	Operating lease right-of-use assets	$	3,930		$	2,964
Liabilities
Current operating leases	Current maturities of operating leases	$	664		$	549
Long-term operating leases	Long-term operating leases	3,302			2,440
Total lease liabilities		$	3,966		$	2,989
Weighted-average remaining lease term
Operating leases		8 years			9 years
Weighted-average discount rate
Operating leases		6.28		%	6.23		%

Schedule of Lease Costs

The table below presents certain information related to lease costs for operating leases during the years ended December 31, 2024, 2023 and 2022 (in millions):

	Year Ended December 31,
	2024		2023		2022
Operating lease cost(a)	$	643	$	539	$	478
Variable lease cost(a)	383		304		219
Total lease costs	$	1,026	$	843	$	697

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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, 2024 (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
2025	$	686
2026	662
2027	637
2028	560
2029	485
Thereafter	2,217
Total undiscounted minimum lease rentals	5,247
Less: amount of lease payments representing interest	(1,281)
Present value of future minimum lease rentals	3,966
Less: current obligations under operating leases	(664)
Long-term operating lease obligations	$	3,302