XML 27 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 85 $ (11) $ (37)
Adjustments to reconcile net income (loss) to cash used in operating activities:      
Deferred income taxes 0 43 (8)
Depreciation and amortization 72 50 45
Gains recognized on sale-leaseback transactions (294) (147) (87)
Loss on extinguishment of debt 1 0 7
Stock-based compensation 16 14 15
Amortization of cash flow hedges, net of tax 1 1 1
Changes in operating assets and liabilities:      
Accounts receivable, net 22 33 (28)
Supplies and other current assets 20 (7) (40)
Aircraft maintenance deposits 82 (16) (18)
Other long-term assets (190) (163) (94)
Accounts payable (15) 47 (4)
Air traffic liability 41 (60) 40
Other liabilities 77 (45) 130
Cash used in operating activities (82) (261) (78)
Cash flows from investing activities:      
Capital expenditures (76) (51) (41)
Pre-delivery deposits for flight equipment, net of refunds 3 (36) (111)
Other (2) (3) (2)
Cash used in investing activities (75) (90) (154)
Cash flows from financing activities:      
Proceeds from issuance of debt, net of issuance costs 476 171 273
Principal repayments on debt (447) (131) (266)
Proceeds from sale-leaseback transactions 264 163 71
Proceeds from the exercise of stock options 1 1 1
Tax withholdings on share-based awards (6) (5) (4)
Cash provided by financing activities 288 199 75
Net increase (decrease) in cash, cash equivalents and restricted cash 131 (152) (157)
Cash, cash equivalents and restricted cash, beginning of period 609 761 918
Cash, cash equivalents and restricted cash, end of period $ 740 $ 609 $ 761