v3.26.3
SPECIAL CHARGES (CREDITS)
 9 Months Ended
Sep. 30, 2026
Restructuring and Related Activities [Abstract]  
SPECIAL CHARGES (CREDITS) SPECIAL CHARGES (CREDITS)
Operating and nonoperating special charges (credits) and unrealized (gains) losses on investments in the statements of consolidated operations consisted of the following (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Labor contract ratification bonuses$(2)$— $182 $561 
(Gains) losses on sale of assets and other special charges(213)(73)(931)(295)
Total operating special charges (credits)(215)(73)(749)266 
Nonoperating unrealized (gains) losses on investments, net13 13 (13)8 
Nonoperating debt extinguishment and modification fees— 20 6 20 
Total nonoperating special charges and unrealized (gains) losses on investments, net13 33 (8)28 
Total operating and nonoperating special charges (credits) and unrealized (gains) losses on investments, net(202)(40)(757)295 
Income tax expense (benefit), net of valuation allowance 6 — 95 (127)
Total operating and nonoperating special charges (credits) and unrealized (gains) losses on investments, net of income taxes$(197)$(40)$(662)$168 
During the nine months ended September 30, 2026, the Company recorded $182 million of expense associated with the agreements with the Company's flight attendants represented by the AFA that was ratified in May 2026, as discussed in Note 9, and the Company's fleet technical instructors, storekeepers, maintenance instructors and security officers represented by the International Association of Machinists and Aerospace Workers. During the nine months ended September 30, 2025, the Company recorded a $561 million special charge in connection with the then-existing tentative agreement with its flight attendants represented by the AFA.
During the three and nine months ended September 30, 2026, the Company recorded $213 million and $931 million, respectively, of net gains on sale of assets and other special charges, which were primarily comprised of $294 million and $1.1 billion, respectively, of gains on various aircraft sale-leaseback transactions. During the three and nine months ended September 30, 2025, the Company recorded $73 million and $295 million, respectively, of net gains on sale of assets and other special charges, which were primarily comprised of $75 million and $336 million, respectively, of gains on various aircraft sale-leaseback transactions.