LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Assets And Liabilities, Lessee

Lease-related assets and liabilities recorded on the consolidated balance sheet was as follows:

(in millions)	Balance Sheet Presentation	2024			2023
Assets
Operating lease assets	Operating lease assets	$	1,296		$	1,195
Finance lease assets	Property and equipment, net	53			—
Total lease assets		$	1,349		$	1,195
Liabilities
Current
Operating	Current portion of operating lease liabilities	$	207		$	158
Finance	Current portion of finance lease liabilities	8			64
Noncurrent
Operating	Operating lease liabilities, net of current portion	1,198			1,125
Finance	Finance lease liabilities, net of current portion	47			—
Total lease liabilities		$	1,460		$	1,347
Weighted-average remaining lease term (in years)
Operating leases		8.9			9.6
Finance leases		6.5			0
Weighted-average discount rate
Operating leases		6.4		%	6.2		%
Finance leases		6.3		%	—		%

Lease, Cost

The components of lease expense for operating and finance leases were as follows:

(in millions)	2024		2023		2022
Expense
Operating lease cost(a)	$	217	$	218	$	290
Amortization of finance lease assets	2		—		—
Interest on finance lease liabilities	1		—		—
Variable and short-term lease costs(a)	557		472		418
Total lease expense	777		690		708
Revenue
Lease revenue(b)	(15)		(15)		(15)
Net lease impact	$	762	$	675	$	693

The cash paid for leases was as follows:

(in millions)	2024	2023	2022
Operating cash flows for operating leases	241	348	354
Financing cash flows for finance leases(a)	31	211	—

(a) Primarily consists of payments made for A321neo finance leases, with associated expenses recognized within Special items - operating in the consolidated statements of operations.

Finance Lease, Liability, to be Paid, Maturity

Future minimum lease payments under non-cancellable leases as of December 31, 2024:

	Operating Leases				Finance Leases
(in millions)	Aircraft(a)		Other		Aircraft(a)		Other
2025	$	258	$	28	$	11	$	—
2026	248		26		11		—
2027	219		20		11		—
2028	199		18		11		—
2029	183		15		11		—
Thereafter	449		215		6		7
Total Lease Payments(a)	1,556		322		61		7
Less: Imputed interest	(301)		(154)		(9)		(4)
Total	$	1,255	$	168	$	52	$	3

(a) Future minimum lease payments in the table reflect incentive credits related to leased B737-9 aircraft. As a result, the operating lease liabilities presented on the consolidated balance sheet will not agree to this table.

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under non-cancellable leases as of December 31, 2024:

	Operating Leases				Finance Leases
(in millions)	Aircraft(a)		Other		Aircraft(a)		Other
2025	$	258	$	28	$	11	$	—
2026	248		26		11		—
2027	219		20		11		—
2028	199		18		11		—
2029	183		15		11		—
Thereafter	449		215		6		7
Total Lease Payments(a)	1,556		322		61		7
Less: Imputed interest	(301)		(154)		(9)		(4)
Total	$	1,255	$	168	$	52	$	3

(a) Future minimum lease payments in the table reflect incentive credits related to leased B737-9 aircraft. As a result, the operating lease liabilities presented on the consolidated balance sheet will not agree to this table.