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SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of segment reporting information
Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis.

Financial information by segment
(in millions)AirlineRefineryIntersegment Sales/OtherConsolidated
Three Months Ended March 31, 2023
Operating revenue:$11,843 $2,352 $12,759 
Sales to airline segment$(596)
(1)
Exchanged products(714)
(2)
Sales of refined products(126)
Operating (loss)/income(499)222 
(3)
— (277)
Interest expense, net227 4 (4)227 
Depreciation and amortization564 23 (23)
(3)
564 
Total assets, end of period70,183 3,005 (54)73,134 
Net fair value obligations, end of period— (38)— (38)
Capital expenditures971 29 — 1,000 
Three Months Ended March 31, 2022
Operating revenue:$8,161 $2,313 $9,348 
Sales to airline segment$(291)
(1)
Exchanged products(809)
(2)
Sales of refined products(26)
Operating (loss)/income(836)53 
(3)
— (783)
Interest expense, net274 2 (2)274 
Depreciation and amortization506 23 (23)
(3)
506 
Total assets, end of period71,392 2,382 (26)73,748 
Net fair value obligations, end of period— (430)— (430)
Capital expenditures1,749 17 — 1,766 
(1)Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price for jet fuel from the refinery by reference to the market index for the primary delivery location, which is New York Harbor.
(2)Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.
(3)Refinery segment operating results, including depreciation and amortization, are included within aircraft fuel and related taxes in our income statement.