v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (282) $ (691)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Deferred income taxes (89) (49)
Depreciation and amortization 339 322
Spirit special items, non-cash 0 450
Gain on sale-leaseback transactions and sale of flight equipment, net (49) 0
Stock-based compensation 22 21
Changes in certain operating assets and liabilities 47 134
Other, net 11 3
Net cash provided by (used in) operating activities (1) 190
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (473) (854)
Pre-delivery deposits for flight equipment (23) (63)
Proceeds from the maturities of held-to-maturity investments 63 36
Purchase of available-for-sale securities (350) (1)
Proceeds from the sale of available-for-sale securities 1,091 242
Payment for Spirit Airlines acquisition 0 (22)
Proceeds from sale-leaseback transactions and sale of flight equipment 121 0
Other, net 0 (6)
Net cash provided by (used in) investing activities 429 (668)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt, net of issuance costs 0 281
Proceeds from failed sale-leaseback transactions 0 470
Proceeds from issuance of common stock 30 31
Repayment of long-term debt and finance lease obligations (228) (166)
Acquisition of treasury stock (8) (5)
Other, net 0 (4)
Net cash provided by (used in) financing activities (206) 607
INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS 222 129
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 2,148 1,317
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period [1] 2,370 1,446
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash payments for interest, net (246) (84)
Cash payments for income taxes, net 0 (4)
NON-CASH TRANSACTIONS    
Operating lease assets acquired under operating leases 418 32
Flight equipment acquired under finance leases 128 71
Cash and cash equivalents 2,135 1,312
Restricted cash and cash equivalents [2] 235 134
Total cash, cash equivalents, restricted cash, and restricted cash equivalents [1] $ 2,370 $ 1,446
[1]
(1) Refer to the table below for a reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents.
[2] Restricted cash and restricted cash equivalents primarily consists of principal and interest payments held as a reserve associated with the financing of the TrueBlue® program, funds held for workers compensation obligations and various letters of credit.