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LONG-TERM DEBT - SCHEDULE OF LONG-TERM DEBT (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Debt Instrument [Line Items]            
Debt Issuance Costs, Net       $ (16)   $ (20)
Total       2,210   2,539
Less current portion       321   366
Long-term debt, less current portion       $ 1,889   $ 2,173
Weighted-average fixed-interest rate       3.50%   3.70%
Weighted-average variable-interest rate       4.20%   1.30%
Long-term debt payments       $ (333) $ (1,222)  
Proceeds from issuance of debt       $ 0 $ 363  
Adjustments to Additional Paid in Capital, Warrant Issued   $ 8 $ 8      
Debt, Weighted Average Interest Rate       3.50%    
LONG-TERM DEBT       LONG-TERM DEBT
 
Long-term debt obligations on the condensed consolidated balance sheet (in millions):
 September 30, 2022December 31, 2021
Fixed-rate notes payable due through 2029$117 $163 
Fixed-rate PSP notes payable due through 2031600 600 
Fixed-rate EETC payable due through 2025 & 2027947 1,058 
Variable-rate notes payable due through 2029562 738 
Less debt issuance costs (16)(20)
Total debt2,210 2,539 
Less current portion321 366 
Long-term debt, less current portion$1,889 $2,173 
Weighted-average fixed-interest rate3.5 %3.7 %
Weighted-average variable-interest rate4.2 %1.3 %

Approximately $353 million of the Company's total variable-rate notes payable are effectively fixed via interest rate swaps at September 30, 2022, resulting in an effective weighted-average interest rate for the full debt portfolio of 3.5%.
During the nine months ended September 30, 2022, the Company made scheduled debt payments of $316 million and prepayments of $17 million for loans related to Q400 aircraft.

Debt Maturity

At September 30, 2022, long-term debt principal payments for the next five years and thereafter are as follows (in millions):
 Total
Remainder of 2022$52 
2023309 
2024238 
2025273 
2026176 
Thereafter1,178 
Total$2,226 

Bank Lines of Credit
 
Alaska has three credit facilities totaling $486 million as of September 30, 2022. One of the credit facilities for $150 million expires in March 2025 and is secured by certain accounts receivable, spare engines, spare parts and ground service equipment. A second credit facility for $250 million expires in June 2024 and is secured by aircraft. Both facilities have variable interest rates based on LIBOR plus a specified margin. A third credit facility for $86 million expires in June 2023 and is secured by aircraft.

Alaska has secured letters of credit against the third facility, but has no plans to borrow using either of the other two facilities. All credit facilities have a requirement to maintain a minimum unrestricted cash and marketable securities balance of $500 million. Alaska was in compliance with this covenant at September 30, 2022.
    
Line of Credit Facility, Maximum Borrowing Capacity       $ 486    
Debt Prepayments [Member]            
Debt Instrument [Line Items]            
Long-term debt payments       (17)    
Scheduled Debt Payments [Member]            
Debt Instrument [Line Items]            
Long-term debt payments       (316)    
Fixed rate notes payable due through 2029 [Member]            
Debt Instrument [Line Items]            
Total       117   $ 163
Variable rate notes payable due through 2029 [Member] [Member]            
Debt Instrument [Line Items]            
Total       562   738
US Treasury CARES Act Loan [Member]            
Debt Instrument [Line Items]            
Adjustments to Additional Paid in Capital, Warrant Issued $ 30          
July 2020 EETC            
Debt Instrument [Line Items]            
Total       947   1,058
Credit Facility 1 [Member] | Secured by certain accounts receivable, spare engines, spare parts and ground service equipment [Member]            
Debt Instrument [Line Items]            
Line of Credit Facility, Maximum Borrowing Capacity       150    
PSP Notes Payable through 2031            
Debt Instrument [Line Items]            
Total       600   $ 600
Variable Rate debt with interest rate swap [Member] | Interest rate swaps agreements [Member]            
Debt Instrument [Line Items]            
Derivative, Notional Amount       353    
Derivative, Notional Amount       $ 353