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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Assumptions Used
Weighted average assumptions used to determine benefit obligations

The rates below vary by plan and related work group.
 20252024
Discount rates
5.36% to 5.58%
5.62% to 5.71%
Rate of compensation increases
2.00%
2.01% to 2.34%

Weighted average assumptions used to determine net periodic benefit cost

The rates below vary by plan and related work group.
 202520242023
Discount rates
5.62% to 5.71%
5.14% to 5.21%
5.41% to 5.42%
Expected return on plan assets
5.00% to 7.20%
5.00% to 7.10%
5.00% to 6.50%
Rate of compensation increases
2.01% to 2.34%
2.01% to 2.34%
2.01% to 2.35%
Schedule of Allocation of Plan Assets
The target and actual asset allocation of the funds in Alaska's qualified defined-benefit plans, by asset category, are as follows: 
Salaried Plan
All Other Plans
 Target20252024Target20252024
Asset category:  
Domestic equity securities
0%
— %— %
6%-35%
27 %34 %
Non-U.S. equity securities
0%
— %— %
0%-18%
12 %13 %
Fixed income securities
100%
100 %100 %
47%-85%
58 %50 %
Real estate
0%
— %— %
0%-10%
3 %3 %
Plan assets100 %100 %100 %100 %

The target and actual asset allocation of the funds in Hawaiian's qualified defined-benefit plan, by asset category, are as follows:
 Target20252024
Asset category:
Equity securities
50%-60%
56 %52 %
Fixed income securities
40%-50%
44 %44 %
Real estate— %— %4 %
Plan assets100 %100 %
Plan assets by fund category:
(in millions)
20252024Fair Value Hierarchy
Fund type:  
Equity securities
$884 $944 2
Credit bond index fund1,541 1,293 2
Plan assets in common commingled trusts$2,425 $2,237 
Real estate52 64 (a)
Cash equivalents14 6 1
Total plan assets$2,491 $2,307 
(a) In accordance with Subtopic 820-10, certain investments that are measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy.
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table sets forth the status of the qualified defined-benefit pension plans:
(in millions)
20252024
Projected benefit obligation (PBO)  
Beginning of year$2,462 $2,183 
Acquisition impact
— 333 
Service cost28 28 
Interest cost129 113 
Actuarial (gain)/loss46 (86)
Benefits paid(141)(109)
End of year$2,524 $2,462 
Plan assets at fair value  
Beginning of year$2,307 $2,023 
Acquisition impact
— 290 
Actual return on plan assets272 72 
Employer contributions53 31 
Benefits paid(141)(109)
End of year$2,491 $2,307 
Unfunded status$(33)$(155)
Percent funded99 %94 %
Schedule of Amounts Recognized in Balance Sheet
The amounts recognized in the consolidated balance sheets: 
(in millions)
20252024
Accrued benefit liability-long term (within Obligation for pension and post-retirement medical benefits)$(116)$(235)
Plan assets-long term (within Other noncurrent assets)83 80 
Total liability recognized$(33)$(155)
 
The amounts not yet reflected in net periodic benefit cost and included in AOCL:
(in millions)
20252024
Prior service cost (credit)$6 $7 
Net loss238 323 
Amount recognized in AOCL (pretax)$244 $330 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
Defined benefit plans with projected benefit obligations and accumulated benefit obligations exceeding fair value of plan assets are as follows:
(in millions)
20252024
Projected benefit obligation$1,754 $1,716 
Accumulated benefit obligation1,705 1,654 
Fair value of plan assets1,638 1,480 
Schedule of Net Benefit Costs
Net pension expense for the qualified defined-benefit plans included the following components: 
(in millions)
202520242023
Service cost$28 $28 $29 
Interest cost129 113 108 
Expected return on assets(147)(134)(114)
Recognized actuarial loss12 19 23 
Net pension expense$22 $26 $46 
Schedule of Expected Benefit Payments
Future benefits expected to be paid over the next ten years under the qualified defined-benefit pension plans from the assets of those plans: 
(in millions)
Total
2026$172 
2027187 
2028195 
2029196 
2030202 
2031-20351,022