v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 2,135 $ 1,921
Investment securities 929 1,689
Receivables, less allowance (2025 - $5; 2024 - $6) 359 348
Inventories, less allowance (2025 - $48; 2024 - $43) 174 158
Prepaid expenses and other 210 142
Total current assets 3,807 4,258
PROPERTY AND EQUIPMENT    
Flight equipment 14,497 14,103
Pre-delivery deposits for flight equipment 253 315
Total flight equipment and pre-delivery deposits, gross 14,750 14,418
Less accumulated depreciation 4,383 4,243
Total flight equipment and pre-delivery deposits, net 10,367 10,175
Other property and equipment, gross 1,376 1,342
Less accumulated depreciation 890 861
Total other property and equipment, net 486 481
Total property and equipment, net 10,853 10,656
OPERATING LEASE ASSETS 916 550
OTHER ASSETS    
Investment securities 298 336
Restricted cash and cash equivalents 235 227
Intangible assets, net of accumulated amortization (2025 - $614; 2024 - $580) 407 399
Other 387 415
Total other assets 1,327 1,377
TOTAL ASSETS 16,903 16,841
CURRENT LIABILITIES    
Accounts payable 633 619
Air traffic liability 1,682 1,572
Accrued salaries, wages and benefits 632 663
Other accrued liabilities 577 542
Current operating lease liabilities 84 93
Current maturities of long-term debt and finance lease obligations 711 392
Total current liabilities 4,319 3,881
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS 7,740 8,147
LONG-TERM OPERATING LEASE LIABILITIES 880 510
DEFERRED TAXES AND OTHER LIABILITIES    
Deferred income taxes 544 633
Air traffic liability - non-current 657 653
Other 355 376
Total deferred taxes and other liabilities 1,556 1,662
COMMITMENTS AND CONTINGENCIES (Note 6)
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; 25 shares authorized, none issued 0 0
Common stock, $0.01 par value; 900 shares authorized, 525 and 513 shares issued and 364 and 353 shares outstanding at June 30, 2025 and December 31, 2024, respectively 5 5
Treasury stock, at cost; 162 and 160 shares at June 30, 2025 and December 31, 2024, respectively (2,013) (2,005)
Additional paid-in capital 3,372 3,320
Retained earnings 1,037 1,319
Accumulated other comprehensive income 7 2
Total stockholders' equity 2,408 2,641
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 16,903 $ 16,841