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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 $ 395 $ 235 $ 58
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 583 451 415
Stock-based compensation and other 63 85 42
Special items (70) 422 496
Changes in certain assets and liabilities:      
Changes in deferred income taxes 135 81 22
(Increase) decrease in accounts receivable (128) (19) (45)
Increase (decrease) in air traffic liability 63 (44) 17
Increase in deferred revenue 116 106 139
Federal income tax refund 0 0 295
Other - net 307 (267) (21)
Net cash provided by operating activities 1,464 1,050 1,418
Property and equipment additions:      
Aircraft and aircraft purchase deposits (817) (1,055) (1,272)
Other flight equipment (171) (197) (208)
Other property and equipment (293) (242) (191)
Acquisition of Hawaiian, net of cash acquired (659) 0 0
Supplier proceeds 162 0 0
Purchases of marketable securities (832) (536) (1,797)
Sales and maturities of marketable securities 1,761 1,152 2,252
Other investing activities 215 (86) (2)
Net cash used in investing activities (634) (964) (1,218)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt, net of issuance costs 2,310 411 0
Long-term debt payments (1,915) (282) (385)
Common stock repurchases (312) (137) 0
Other financing activities 36 (139) 60
Net cash provided by (used in) financing activities 119 (147) (325)
Net increase (decrease) in cash and cash equivalents 949 (61) (125)
Cash, cash equivalents, and restricted cash at beginning of period 308 369 494
Cash, cash equivalents, and restricted cash at end of period 1,257 308 369
Cash paid during the year for:      
Interest, net of amount capitalized 148 105 71
Income taxes, net of refunds received 22 15 0
Non-cash transactions:      
Right-of-use assets acquired through operating leases 35 178 461
Operating leases converted to finance leases 0 505 0
Property and equipment acquired through the issuance of debt 68 179 0
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 1,201 281 338
Restricted cash 29 0 0
Restricted cash included in Other noncurrent assets 27 27 31
Total cash, cash equivalents, and restricted cash at end of period $ 1,257 $ 308 $ 369