v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (310) $ (362) $ (182)  
Adjustments to reconcile net loss to net cash provided by operating activities:        
Deferred income taxes (27) (73) (88)  
Depreciation and amortization 621 585 540  
Stock-based compensation 39 30 28  
Special items - fleet transition 0 52 0  
Losses on debt extinguishments 0 0 50  
Unrealized (gains) losses on investments 0 12 (49)  
Changes in certain operating assets and liabilities:        
Increase in receivables (3) (111) (46)  
Decrease in inventories, prepaid and other 67 201 138  
Increase (decrease) in air traffic liability (145) 30 447  
Increase in accounts payable and other accrued liabilities 141 26 806  
Other, net 17 (11) (2)  
Net cash provided by operating activities 400 379 1,642  
CASH FLOWS FROM INVESTING ACTIVITIES        
Capital expenditures (1,128) (767) (907)  
Pre-delivery deposits for flight equipment (78) (156) (88)  
Purchase of held-to-maturity investments (69) (142) (37)  
Proceeds from the maturities of held-to-maturity investments 12 2 0  
Purchase of available-for-sale securities (474) (473) (1,577)  
Proceeds from the sale of available-for-sale securities 489 934 1,910  
Payment for Spirit Airlines acquisition (131) (297) 0  
Other, net 1 (9) (5)  
Net cash used in investing activities (1,378) (908) (704)  
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from issuance of long-term debt 78 0 1,010  
Proceeds from sale-leaseback transactions 1,331 0 0 $ 354
Proceeds from issuance of common stock 53 52 46  
Proceeds from issuance of stock warrants 0 0 14  
Repayment of long-term debt and finance lease obligations (347) (369) (1,892)  
Acquisition of treasury stock (4) (6) (8)  
Other, net (4) (37) 0  
Net cash provided by (used in) financing activities 1,107 (360) (830)  
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 129 (889) 108  
Cash, cash equivalents and restricted cash at beginning of period 1,188 [1] 2,077 [1] 1,969  
Cash, cash equivalents, and restricted cash at end of period 1,317 [1] 1,188 [1] 2,077 [1] 1,969
SUPPLEMENTAL CASH FLOW INFORMATION        
Cash payments for interest (80) (124) (180)  
Cash proceeds (payments) for income taxes, net 49 45 (3)  
NON-CASH TRANSACTIONS        
Operating lease assets obtained under operating leases 46 31 46  
Cash and cash equivalents 1,166 1,042 2,018  
Restricted cash 151 146 59  
Total cash, cash equivalents and restricted cash $ 1,317 [1] $ 1,188 [1] $ 2,077 [1] $ 1,969
[1]
(1) Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets: