FINANCING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

(in millions)	December 31, 2022		December 31, 2021
Secured
Pass Through Certificates due 2022 - 6.24%	$	—	$	71
Unsecured
2.75% Notes due 2022	$	—	$	300
4.75% Notes due 2023	—		1,250
1.25% Convertible Notes due 2025	1,611		1,842
5.25% Notes due 2025	1,302		1,550
3.00% Notes due 2026	300		300
3.45% Notes due 2027	300		300
5.125% Notes due 2027	1,727		2,000
7.375% Debentures due 2027	114		116
2.625% Notes due 2030	500		500
1.000% Payroll Support Program Loan due April 2030 (See Note 2)	976		976
1.000% Payroll Support Program Loan due January 2031 (See Note 2)	566		566
1.000% Payroll Support Program Loan due April 2031 (See Note 2)	526		526
Finance leases	189		459
	$	8,111	$	10,756
Less current maturities	42		453
Less debt discount and issuance costs	23		29
	$	8,046	$	10,274

Convertible Debt

The Company adopted ASU 2020-06, as of January 1, 2022, utilizing the modified retrospective method approach. See Note 3 for further information. Upon adoption, the Company reclassified the remaining equity component, of $300 million, from Additional paid-in capital to Long-term debt associated with its Convertible Notes, and no longer records amortization of the debt discount to Interest expense. The following table details the equity and liability component recognized related to the Convertible Notes, prior to and following the adoption of ASU 2020-06:

(in millions)	December 31, 2022		December 31, 2021
Equity component:
Carrying amount of Convertible Notes	$	—	$	311
Carrying amount of issuance costs	—		(11)
Net carrying amount	$	—	$	300
Liability component:
Principal amount	$	1,611	$	2,097
Unamortized debt discount	—		(255)
Net carrying amount	$	1,611	$	1,842

Interest Income and Interest Expense Disclosure

The Company recognized interest expense associated with the Convertible Notes as follows:

(in millions)	December 31, 2022		December 31, 2021
Non-cash amortization of the debt discount	$	—	$	73
Non-cash amortization of debt issuance costs	12		9
Contractual coupon interest	22		28
Total interest expense	$	34	$	110

Schedule of Extinguishment of Debt

The following tables present the details of the partial extinguishment of the Company's Convertible Notes and early prepayment of debt (excluding payments on finance leases) for the years ended December 31, 2022 and 2021.

	Year ended December 31, 2022
(in millions)	Cash paid for debt and interest		Principal repayment		Loss on extinguishment		Non-cash amortization of debt discount and (issuance) costs		Accrued Interest
1.25% Convertible Notes due 2025	$	649	$	486	$	171	$	(9)	$	1
5.125% Notes due 2027	285		272		7		2		4
4.75% Notes due 2023	1,278		1,250		9		—		19
5.25% Notes due 2025	258		248		6		—		4
Total	$	2,470	$	2,256	$	193	$	(7)	$	28

	Year ended December 31, 2021
(in millions)	Cash paid for debt and interest		Principal repayment		Loss on extinguishment		Non-cash amortization of debt discount and (issuance) costs		Reduction to Capital in excess of par value
1.25% Convertible Notes due 2025	$	293	$	203	$	28	$	(30)	$	92

Schedule of Maturities of Long-Term Debt

As of December 31, 2022, aggregate annual principal maturities of debt and finance leases (not including amounts associated with interest on finance leases) are as follows:

(in millions)
2023	$	42
2024	41
2025	2,943
2026	322
2027	2,147
Thereafter	2,602
Total	$	8,097