Special Charges (Credits)

3 Months Ended

Mar. 31, 2023

Other Income and Expenses [Abstract]

SPECIAL CHARGES (CREDITS)

SPECIAL CHARGES (CREDITS) For the three months ended March 31, 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 March 31,
	2023		2022
(Gains) losses on sale of assets and other special charges	$	14	$	(8)
Total operating special charges (credits)	14		(8)
Nonoperating unrealized gains on investments, net	(24)		—
Nonoperating debt extinguishment and modification fees	—		7
Total nonoperating special charges and unrealized gains on investments, net	(24)		7
Total operating and nonoperating special charges (credits) and unrealized gains on investments, net	(10)		(1)
Income tax benefit, net of valuation allowance	(3)		—
Total operating and nonoperating special charges (credits) and unrealized gains on investments, net of income taxes	$	(13)	$	(1)

2023

(Gains) losses on sale of assets and other special charges. During the three months ended March 31, 2023, the Company recorded $14 million of net charges primarily comprised of accelerated depreciation related to certain of the Company's assets that will be retired early and other gains and losses on the sale of assets.

Nonoperating unrealized (gains) losses on investments, net. During the three months ended March 31, 2023, the Company recorded gains of $24 million primarily for the change in the market value of its investments in equity securities.

2022

(Gains) losses on sale of assets and other special charges. During the three months ended March 31, 2022, the Company recorded net gains of $8 million primarily related to sale-leaseback transactions and the sale of aircraft.

Nonoperating debt extinguishment and modification fees. During the three months ended March 31, 2022, the Company recorded $7 million of charges primarily related to the early redemption of $400 million of its outstanding principal amount of the 4.25% senior notes due 2022.