INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of December 31, 2024 and 2023, are as follows:

(in millions)	2024		2023
DEFERRED TAX LIABILITIES:
Accelerated depreciation	$	3,351	$	3,595
Prepaid insurance	282		258
Operating lease right-of-use assets	314		276
Other	99		91
Total deferred tax liabilities	4,046		4,220
DEFERRED TAX ASSETS:
Accrued employee benefits	337		757
Loyalty program and flight credit liability	604		599
Operating lease liabilities	319		279
Net operating losses and tax credits (a)	352		309
Other	267		232
Total deferred tax assets	1,879		2,176
Net deferred tax liability	$	2,167	$	2,044

(a) As of December 31, 2024 and 2023, the Company had approximately $56 million and $36 million, respectively, of state net operating loss carryforwards (tax effected) to reduce future state taxable income. These state net operating loss carryforwards will expire in years 2025 through 2046 if unused. As of December 31, 2024 and 2023, the Company had $253 million and $268 million, respectively, of federal net operating loss carryforwards (tax effected) that may be carried forward indefinitely.

Schedule of Components of the Income Tax Provision

The provision (benefit) for income taxes is composed of the following:

(in millions)	2024		2023		2022
CURRENT:
Federal	$	—	$	(10)	$	(36)
State	1		19		(3)
Total current	1		9		(39)
DEFERRED:
Federal	108		140		208
State	24		19		20
Total deferred	132		159		228
Income tax provision (benefit)	$	133	$	168	$	189

Schedule of Income Tax Provision Reconciliation To Federal Income Tax Statutory Rate

The effective tax rate on Income (loss) before income taxes differed from the federal income tax statutory rate for the following reasons:

(in millions)	2024		2023		2022
Tax at statutory U.S. tax rates	$	126	$	133	$	153
State income taxes, net of federal benefit	20		30		12
Nondeductible per diem	9		8		1
Convertible debt repurchases	—		—		31
DOT settlement	(3)		22		—
Federal tax credits	(33)		(19)		(13)
Other, net	14		(6)		5
Total income tax provision (benefit)	$	133	$	168	$	189