| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Marketable securities | NaN | NaN | 1,494 | 1,374 |
| Cash and cash equivalents | 451 | 627 | 778 | 750 |
| Restricted cash | 27 | 28 | 28 | 28 |
| Total cash, restricted cash, and marketable securities | NaN | NaN | 2,300 | 2,152 |
| Marketable securities | 1,317 | 1,496 | NaN | NaN |
| Receivables - net | 630 | 565 | 586 | 737 |
| Inventories and supplies - net | 232 | 203 | 229 | 218 |
| Prepaid expenses | 281 | 278 | 285 | 264 |
| Other current assets | 79 | 69 | 66 | 136 |
| Total current assets | 3,017 | 3,266 | 3,466 | 3,507 |
| Aircraft and other flight equipment | NaN | NaN | 12,953 | 13,056 |
| Other property and equipment | NaN | NaN | 2,367 | 2,267 |
| Deposits for future flight equipment | NaN | NaN | 710 | 621 |
| Property and equipment | NaN | NaN | 16,030 | 15,944 |
| Less accumulated depreciation and amortization | NaN | NaN | 4,794 | 4,729 |
| Property and equipment - net of accumulated depreciation and amortization of 5,080 and 4,945 | 12,015 | 11,857 | 11,236 | 11,215 |
| Operating lease assets | 1,300 | 1,268 | 1,322 | 1,279 |
| Goodwill | 2,723 | 2,723 | 2,723 | 2,724 |
| Intangible assets - net of accumulated amortization of 88 and 74 | 801 | 815 | 829 | 844 |
| Other noncurrent assets | 442 | 432 | 436 | 316 |
| Total other assets | NaN | NaN | 5,310 | 5,163 |
| Total noncurrent assets | 17,281 | 17,095 | NaN | NaN |
| Total assets | 20,298 | 20,361 | 20,012 | 19,885 |
| Current portion of long-term debt | NaN | NaN | 519 | 500 |
| Current portion of finance lease liabilities | NaN | NaN | 9 | 8 |
| Accounts payable | 409 | 324 | 322 | 240 |
| Accrued wages, vacation and payroll taxes | 657 | 881 | 811 | 697 |
| Deferred revenue-Passenger Revenue | NaN | NaN | 1,938 | 2,127 |
| Deferred revenue-Mileage Plan Revenue | NaN | NaN | NaN | 1,824 |
| Deferred revenue-Air Traffic Liability | 2,378 | 1,689 | NaN | NaN |
| Other accrued liabilities | 1,121 | 1,055 | 1,007 | 1,096 |
| Deferred revenue-Loyalty Plan Revenue | 1,781 | 1,722 | 1,837 | NaN |
| Current portion of long-term debt and finance leases | 498 | 721 | NaN | NaN |
| Current portion of operating lease liabilities | 212 | 197 | 216 | 217 |
| Total current liabilities | 7,056 | 6,589 | 6,659 | 6,709 |
| Long-term debt, net of current portion | NaN | NaN | 4,490 | 4,448 |
| Long-term debt and finance leases, net of current portion | 4,822 | 4,834 | NaN | NaN |
| Operating lease liabilities, net of current portion | 1,136 | 1,141 | 1,197 | 1,157 |
| Finance lease liabilities, net of current portion | NaN | NaN | 40 | 43 |
| Deferred income taxes | 879 | 1,004 | 976 | 938 |
| Deferred revenue | 1,700 | 1,711 | 1,596 | 1,648 |
| Obligation for pension and post-retirement medical benefits | 360 | 369 | 439 | 452 |
| Other liabilities | 614 | 595 | 586 | 548 |
| Total noncurrent liabilities | 9,511 | 9,654 | 9,324 | 9,234 |
| Common stock, 0.01 par value, authorized 400,000,000 shares, issued 2026 - 145,631,281 shares 2025 - 145,115,659 shares, outstanding 2026 - 111,359,830 shares 2025 - 115,530,889 shares | 1 | 1 | 1 | 1 |
| Capital in excess of par value | 973 | 961 | 913 | 899 |
| Treasury stock, value | NaN | NaN | 1,671 | 1,666 |
| Treasury stock (common), at cost 2026 - 34,271,451 shares 2025 - 29,584,770 shares | 1,904 | 1,701 | NaN | NaN |
| Accumulated other comprehensive loss | -176 | -173 | -223 | -228 |
| Retained earnings | 4,837 | 5,030 | 5,009 | 4,936 |
| Total shareholders' equity | 3,731 | 4,118 | 4,029 | 3,942 |
| Total liabilities and shareholders' equity | 20,298 | 20,361 | 20,012 | 19,885 |
ALASKA AIR GROUP, INC. (ALK)
ALASKA AIR GROUP, INC. (ALK)