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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss) $ 348 $ (915) $ 463 $ (1,009)
Adjustments to reconcile net income (loss) to cash provided by operating activities:        
Depreciation and amortization 315 313 627 624
Unrealized/realized (gain) loss on fuel derivative instruments (17) 6 (23) 8
Deferred income taxes (30) (181) (26) (230)
Gain on sale-leaseback transactions 0 (222) 0 (222)
Changes in certain assets and liabilities:        
Accounts and other receivables (563) (119) (797) 64
Other assets 16 224 5 282
Accounts payable and accrued liabilities 989 1,200 923 (90)
Air traffic liability 946 667 1,546 1,368
Other liabilities (64) (74) (186) (206)
Cash collateral received from derivative counterparties 48 12 86 7
Other, net 17 (14) 32 (76)
Net cash provided by operating activities 2,005 897 2,650 520
CASH FLOWS FROM INVESTING ACTIVITIES:        
Capital expenditures (95) (113) (190) (336)
Supplier proceeds 0 128 0 428
Proceeds from sale-leaseback transactions 0 815 0 815
Purchases of short-term investments (1,651) (1,316) (2,975) (2,345)
Proceeds from sales of short-term and other investments 1,277 818 2,495 1,765
Net cash provided by (used in) investing activities (469) 332 (670) 327
CASH FLOWS FROM FINANCING ACTIVITIES:        
Issuance of common stock 0 2,294 0 2,294
Proceeds from issuance of long-term debt 0 3,997 0 4,497
Proceeds from term loan credit facility 0 2,683 0 3,683
Proceeds from revolving credit facility 0 0 0 1,000
Proceeds from convertible notes 0 2,300 0 2,300
Proceeds from Payroll Support Program loan and warrants 625 885 1,136 885
Proceeds from Employee stock plans 13 13 26 24
Repurchase of common stock 0 0 0 (451)
Payments of long-term debt and finance lease obligations (43) (159) (109) (237)
Payments of term loan credit facility 0 (3,683) 0 (3,683)
Payments of revolving credit facility 0 (1,000) 0 (1,000)
Payments of cash dividends 0 0 0 (188)
Capitalized financing items 0 (171) 0 (176)
Other, net 22 23 28 8
Net cash provided by financing activities 617 7,182 1,081 8,956
NET CHANGE IN CASH AND CASH EQUIVALENTS 2,153 8,411 3,061 9,803
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 11,971 3,940 11,063 2,548
CASH AND CASH EQUIVALENTS AT END OF PERIOD 14,124 12,351 14,124 12,351
CASH PAYMENTS FOR:        
Interest, net of amount capitalized 150 40 167 54
Income taxes 176 5 177 10
SUPPLEMENTAL DISCLOSURE OF NONCASH TRANSACTIONS:        
Right-of-use assets acquired under operating leases 12 661 230 686
Flight equipment acquired against supplier credit memo 207 0 512 0
Assets constructed for others $ (341) $ 41 $ (309) $ 75