v3.26.1
Financial Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income
The Company recorded expenses associated with fuel derivative contracts that settled during the three and six months ended June 30, 2025 and for amounts that remain in Accumulated Other Comprehensive Income ("AOCI") associated with previously terminated hedges during the three and six months ended June 30, 2026 and 2025. These expenses are reflected as a component of Aircraft fuel and related taxes expense within the unaudited Condensed Consolidated Statement of Comprehensive Income:
Location and amount reclassified from AOCI into income on cash flow hedging relationships
Three months endedSix months ended
Income Statement June 30,June 30,
(in millions)location2026202520262025
Fuel derivative contracts (gross)Aircraft fuel and related taxes$29 $36 $58 $73 

Derivatives designated and qualified in cash flow hedging relationships
 
Loss recognized in AOCI on derivatives, net of tax
 Three months endedSix months ended
 June 30,June 30,
(in millions)2026202520262025
Fuel derivative contracts$— $40 $— $69 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table presents the location of the Company’s interest rate derivative instruments within the unaudited Condensed Consolidated Balance Sheet:
Derivatives designated as hedges
  
Liability derivatives
 Balance SheetFair value atFair value at
(in millions)location6/30/202612/31/2025
Interest rate derivative contractsOther noncurrent liabilities28 16