LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of lease asset and liability balance sheet position by category

The table below presents the lease-related assets and liabilities recorded on the balance sheets.

Lease asset and liability balance sheet position by category
		December 31,
(in millions)	Classification on the Balance Sheet	2023			2022
Assets
Operating lease assets	Operating lease right-of-use assets	$	7,004		$	7,036
Finance lease assets	Property and equipment, net	1,338			1,487
Total lease assets		$	8,342		$	8,523
Liabilities
Current
Operating	Current maturities of operating leases	$	759		$	714
Finance	Current maturities of debt and finance leases	358			304
Noncurrent
Operating	Noncurrent operating leases	6,468			6,866
Finance	Debt and finance leases	1,086			1,345
Total lease liabilities		$	8,671		$	9,229
Weighted-average remaining lease term
Operating leases		13 years			13 years
Finance leases		4 years			5 years
Weighted-average discount rate
Operating leases		3.73		%	4.30		%
Finance leases		3.12		%	3.05		%

Schedule of lease cost by category

The table below presents certain information related to the lease costs for finance and operating leases.

Lease cost by category
	Year Ended December 31,
(in millions)	2023		2022		2021
Finance lease cost
Amortization of leased assets	$	109	$	120	$	131
Interest of lease liabilities	42		45		55
Operating lease cost(1)	981		949		863
Short-term lease cost(1)	258		281		245
Variable lease cost(1)	2,230		1,859		1,599
Total lease cost	$	3,620	$	3,254	$	2,893

(1)Expenses are primarily classified within aircraft rent, landing fees and other rents and regional carrier expense on our income statement.

Schedule supplemental lease-related cash flow information

The table below presents supplemental cash flow information related to leases.

Supplemental lease-related cash flow information
	Year Ended December 31,
(in millions)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	1,230	$	809	$	999
Operating cash flows for finance leases	71		49		46
Financing cash flows for finance leases	264		363		336

Schedule of future cash flows and reconciliation to the balance sheet, operating leases

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheets.

Future lease cash flows and reconciliation to the balance sheet
(in millions)	Operating Leases		Finance Leases
2024	$	1,021	$	395
2025	990		257
2026	899		192
2027	860		391
2028	772		164
Thereafter	4,705		157
Total minimum lease payments	9,247		1,556
Less: amount of lease payments representing interest	(2,020)		(112)
Present value of future minimum lease payments	7,227		1,444
Less: current obligations under leases	(759)		(358)
Long-term lease obligations	$	6,468	$	1,086

Schedule of future cash flows and reconciliation to the balance sheet, finance leases

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheets.

Future lease cash flows and reconciliation to the balance sheet
(in millions)	Operating Leases		Finance Leases
2024	$	1,021	$	395
2025	990		257
2026	899		192
2027	860		391
2028	772		164
Thereafter	4,705		157
Total minimum lease payments	9,247		1,556
Less: amount of lease payments representing interest	(2,020)		(112)
Present value of future minimum lease payments	7,227		1,444
Less: current obligations under leases	(759)		(358)
Long-term lease obligations	$	6,468	$	1,086