Income Statement United Airlines Holdings, Inc.

Equities

UAL

US9100471096

Airlines

Market Closed - Nasdaq Other stock markets 16:00:00 2024-09-13 EDT			5-day change	1st Jan Change
50.22 ^USD	+1.15%		+9.15%	+21.72%

07:09am	Air Canada reaches agreement with pilots union, averting strike	RE
09-13	Consumer Cos Up After Strong Sentiment Data -- Consumer Roundup	DJ

f690d51398a575ce62f25ff3028044._cvG1TD8aFnadyzc3s4JncEqDJXMvF3TAxUkvd_05VU.mf_-n3K9DGHtFkaRqYFD-bRCecT0i267bl8dx7qVuiyRgv-zAs8jFKMYRw

Published financial data: UNITED AIRLINES HOLDINGS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	40.8B	13.45B	22.55B	42.2B	50.54B
Other Revenues, Total	2.46B	1.9B	2.09B	2.75B	3.18B
Total Revenues	43.26B	15.36B	24.63B	44.96B	53.72B
Cost of Goods Sold, Total	28.48B	18.01B	21.37B	31.77B	35.72B
Gross Profit	14.78B	-2.65B	3.26B	13.19B	18B
Selling General & Admin Expenses, Total	1.86B	546M	776M	1.7B	2.2B
Depreciation & Amortization - (IS)	2.29B	2.49B	2.48B	2.46B	2.67B
Other Operating Expenses	6.06B	3.4B	4.33B	6.46B	7.84B
Other Operating Expenses, Total	10.21B	6.43B	7.6B	10.62B	12.71B
Operating Income	4.57B	-9.08B	-4.33B	2.57B	5.29B
Interest Expense, Total	-646M	-992M	-1.58B	-1.67B	-1.77B
Interest And Investment Income	133M	50M	36M	298M	827M
Net Interest Expenses	-513M	-942M	-1.54B	-1.38B	-947M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-48M	-14M	62M	-75M	-24M
EBT, Excl. Unusual Items	4.01B	-10.04B	-5.81B	1.12B	4.32B
Restructuring Charges	-2M	-1.26B	-469M	-	-
Gain (Loss) On Sale Of Investments	153M	-194M	-34M	20M	27M
Asset Writedown	-171M	-318M	-97M	-	-
Legal Settlements	-18M	-	-	-	-
Other Unusual Items	-55M	2.99B	3.85B	-147M	-960M
EBT, Incl. Unusual Items	3.91B	-8.82B	-2.56B	990M	3.39B
Income Tax Expense	905M	-1.75B	-593M	253M	769M
Earnings From Continuing Operations	3.01B	-7.07B	-1.96B	737M	2.62B
Net Income to Company	3.01B	-7.07B	-1.96B	737M	2.62B
Net Income - (IS)	3.01B	-7.07B	-1.96B	737M	2.62B
Net Income to Common Incl Extra Items	3.01B	-7.07B	-1.96B	737M	2.62B
Net Income to Common Excl. Extra Items	3.01B	-7.07B	-1.96B	737M	2.62B
Per Share Items
Net EPS - Basic	11.63	-25.3	-6.1	2.26	7.99
Basic EPS - Continuing Operations	11.63	-25.3	-6.1	2.26	7.99
Basic Weighted Average Shares Outstanding	259M	279M	322M	326M	328M
Net EPS - Diluted	11.58	-25.3	-6.1	2.23	7.89
Diluted EPS - Continuing Operations	11.58	-25.3	-6.1	2.23	7.89
Diluted Weighted Average Shares Outstanding	260M	279M	322M	330M	332M
Normalized Basic EPS	9.68	-22.46	-11.28	2.14	8.24
Normalized Diluted EPS	9.64	-22.46	-11.28	2.11	8.13
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	6.72B	-6.77B	-2.03B	4.86B	7.79B
EBITA	4.63B	-9.03B	-4.28B	2.61B	5.33B
EBIT	4.57B	-9.08B	-4.33B	2.57B	5.29B
EBITDAR	10.28B	-3.89B	1.2B	8.37B	11.71B
Total Revenues (As Reported)	43.26B	15.36B	24.63B	44.96B	53.72B
Effective Tax Rate - (Ratio)	23.12	19.87	23.19	25.56	22.7
Total Current Taxes	23M	-12M	-10M	5M	13M
Total Deferred Taxes	882M	-1.74B	-583M	248M	756M
Normalized Net Income	2.5B	-6.28B	-3.63B	698M	2.7B
Interest Capitalized	85M	71M	80M	105M	182M
Interest on Long-Term Debt	170M	87M	96M	118M	202M
Non-Cash Pension Expense	58M	550M	68M	7M	-22M
Supplemental Operating Expense Items
Advertising Expense	212M	87M	99M	165M	221M
Selling and Marketing Expenses	1.86B	546M	776M	1.7B	2.2B
Net Rental Expense, Total	3.55B	2.88B	3.22B	3.51B	3.91B
Imputed Operating Lease Interest Expense	1.03B	901M	1.14B	1.27B	1.65B
Imputed Operating Lease Depreciation	2.52B	1.98B	2.08B	2.24B	2.26B
Maintenance & Repair Expenses, Total	1.79B	858M	1.32B	2.15B	2.74B
Stock-Based Comp., COGS (Total)	100M	108M	238M	89M	80M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	100M	108M	238M	89M	80M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.76B	11.27B	18.28B	7.17B	6.06B
Short Term Investments	2.18B	414M	123M	9.25B	8.33B
Total Cash And Short Term Investments	4.94B	11.68B	18.41B	16.41B	14.39B
Accounts Receivable, Total	1.36B	1.3B	1.66B	1.8B	1.9B
Total Receivables	1.36B	1.3B	1.66B	1.8B	1.9B
Inventory	1.07B	932M	983M	1.11B	1.56B
Prepaid Expenses	814M	635M	745M	689M	609M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	-	255M	37M	45M	31M
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	8.19B	14.8B	21.83B	20.06B	18.49B
Gross Property Plant And Equipment	48.1B	51.27B	52.99B	56B	62.89B
Accumulated Depreciation	-14.54B	-16.43B	-18.49B	-20.48B	-22.71B
Net Property Plant And Equipment	33.57B	34.84B	34.5B	35.52B	40.18B
Long-term Investments	1.16B	964M	1.34B	1.37B	1.39B
Goodwill	4.52B	4.53B	4.53B	4.53B	4.53B
Other Intangibles, Total	3.01B	2.84B	2.8B	2.76B	2.72B
Loans Receivable Long-Term	671M	31M	76M	-	-
Deferred Tax Assets Long-Term	-	131M	659M	91M	-
Other Long-Term Assets, Total	1.49B	1.42B	2.43B	3.03B	3.8B
Total Assets	52.61B	59.55B	68.18B	67.36B	71.1B
Liabilities
Accounts Payable, Total	2.7B	1.6B	2.56B	3.4B	3.84B
Accrued Expenses, Total	2.27B	1.96B	2.12B	1.97B	2.94B
Current Portion of Long-Term Debt	1.41B	1.91B	3B	2.93B	4.02B
Current Portion of Leases	732M	794M	1.47B	665M	805M
Unearned Revenue Current, Total	7.26B	5.74B	8.59B	10.25B	9.8B
Other Current Liabilities	566M	724M	560M	779M	806M
Total Current Liabilities	14.94B	12.72B	18.3B	19.99B	22.2B
Long-Term Debt	13.14B	24.84B	30.36B	29.13B	25.06B
Long-Term Leases	5.17B	6.35B	6.23B	4.57B	6.86B
Unearned Revenue Non Current	2.84B	5.07B	4.04B	3.98B	4.05B
Pension & Other Post Retirement Benefits	2.24B	3.45B	2.92B	1.42B	1.6B
Deferred Tax Liability Non Current	1.74B	-	-	-	594M
Other Non Current Liabilities	1.02B	1.16B	1.28B	1.37B	1.41B
Total Liabilities	41.08B	53.59B	63.15B	60.46B	61.78B
Common Stock, Total	3M	4M	4M	4M	4M
Additional Paid In Capital	6.13B	8.37B	9.16B	8.99B	8.99B
Retained Earnings	9.72B	2.63B	625M	1.26B	3.83B
Treasury Stock	-3.6B	-3.9B	-3.81B	-3.53B	-3.44B
Comprehensive Income and Other	-718M	-1.14B	-942M	175M	-62M
Total Common Equity	11.53B	5.96B	5.03B	6.9B	9.32B
Total Equity	11.53B	5.96B	5.03B	6.9B	9.32B
Total Liabilities And Equity	52.61B	59.55B	68.18B	67.36B	71.1B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	248M	318M	325M	327M	328M
ECS Total Common Shares Outstanding	251M	312M	324M	327M	328M
Book Value / Share	45.9	19.11	15.53	21.09	28.43
Tangible Book Value	4B	-1.4B	-2.3B	-393M	2.07B
Tangible Book Value Per Share	15.92	-4.51	-7.11	-1.2	6.32
Total Debt	20.45B	33.89B	41.06B	37.3B	36.74B
Net Debt	15.51B	22.21B	22.66B	20.89B	22.35B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.43B	2.46B	1.85B	714M	951M
Debt Equivalent Oper. Leases	28.43B	23.02B	25.78B	28.09B	31.31B
Equity Method Investments, Total	1.16B	964M	1.34B	1.37B	1.39B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Others	1.5B	1.41B	1.53B	1.72B	2.25B
Machinery, Total	35.42B	38.22B	39.58B	42.78B	48.45B
Full Time Employees	96K	74.4K	84.1K	92.8K	103K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	9M	78M	28M	11M	18M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.01B	-7.07B	-1.96B	737M	2.62B
Depreciation & Amortization - CF	2.09B	2.26B	2.25B	2.25B	2.47B
Amortization of Goodwill and Intangible Assets - (CF)	60M	55M	49M	41M	37M
Depreciation & Amortization, Total	2.15B	2.32B	2.3B	2.29B	2.5B
Amortization of Deferred Charges, Total - (CF)	135M	172M	182M	322M	307M
(Gain) Loss on Sale of Investments - (CF)	-153M	194M	34M	-20M	-27M
Asset Writedown & Restructuring Costs	171M	318M	97M	-	-
Other Operating Activities, Total	1.07B	-291M	-255M	482M	846M
Change In Accounts Receivable	44M	135M	-448M	-158M	-100M
Change In Accounts Payable	324M	-1.08B	985M	796M	572M
Change in Unearned Revenues	709M	713M	1.83B	1.59B	-383M
Change in Other Net Operating Assets	-554M	458M	-695M	24M	575M
Cash from Operations	6.91B	-4.13B	2.07B	6.07B	6.91B
Capital Expenditure	-4.53B	-1.73B	-2.11B	-4.82B	-7.17B
Sale of Property, Plant, and Equipment	-	-	107M	207M	39M
Investment in Marketable and Equity Securities, Total	63M	1.77B	329M	-9.15B	1.05B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-174M	-	-	-	-
Other Investing Activities, Total	79M	10M	-1M	-69M	-23M
Cash from Investing	-4.56B	50M	-1.67B	-13.83B	-6.11B
Long-Term Debt Issued, Total	1.85B	16.04B	11.1B	736M	2.39B
Total Debt Issued	1.85B	16.04B	11.1B	736M	2.39B
Long-Term Debt Repaid, Total	-1.39B	-4.45B	-5.2B	-4.01B	-4.25B
Total Debt Repaid	-1.39B	-4.45B	-5.2B	-4.01B	-4.25B
Issuance of Common Stock	-	2.1B	532M	-	-
Repurchase of Common Stock	-1.64B	-353M	-	-	-
Other Financing Activities, Total	-91M	-388M	-27M	-74M	-32M
Cash from Financing	-1.28B	12.96B	6.4B	-3.35B	-1.89B
Net Change in Cash	1.07B	8.87B	6.79B	-11.11B	-1.09B
Supplemental Items
Cash Interest Paid	648M	874M	1.42B	1.57B	1.85B
Cash Income Tax Paid (Refund)	29M	-29M	-	8M	7M
Levered Free Cash Flow	1.24B	-8.07B	447M	782M	-1.55B
Unlevered Free Cash Flow	1.64B	-7.45B	1.43B	1.67B	-581M
Change In Net Working Capital	-926M	2.65B	-3.52B	-2.34B	-532M
Net Debt Issued / Repaid	456M	11.6B	5.89B	-3.28B	-1.86B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.62	-10.12	-4.24	2.37	4.78
Return on Total Capital	9.24	-15.81	-6.3	3.55	7.33
Return On Equity %	27.9	-80.83	-35.74	12.36	32.28
Return on Common Equity	27.9	-80.83	-35.74	12.36	32.28
Margin Analysis
Gross Profit Margin %	34.17	-17.26	13.25	29.33	33.51
SG&A Margin	4.31	3.56	3.15	3.78	4.09
EBITDA Margin %	15.54	-44.08	-8.23	10.8	14.51
EBITA Margin %	10.7	-58.8	-17.38	5.8	9.92
EBIT Margin %	10.56	-59.16	-17.58	5.71	9.85
Income From Continuing Operations Margin %	6.96	-46.04	-7.97	1.64	4.87
Net Income Margin %	6.96	-46.04	-7.97	1.64	4.87
Net Avail. For Common Margin %	6.96	-46.04	-7.97	1.64	4.87
Normalized Net Income Margin	5.79	-40.87	-14.74	1.55	5.03
Levered Free Cash Flow Margin	2.86	-52.59	1.82	1.74	-2.89
Unlevered Free Cash Flow Margin	3.79	-48.55	5.82	3.72	-1.08
Asset Turnover
Asset Turnover	0.85	0.27	0.39	0.66	0.78
Fixed Assets Turnover	1.33	0.45	0.71	1.28	1.42
Receivables Turnover (Average Receivables)	29.25	10.12	15.24	24.37	27.33
Inventory Turnover (Average Inventory)	27.69	17.97	22.32	30.37	26.75
Short Term Liquidity
Current Ratio	0.55	1.16	1.19	1	0.83
Quick Ratio	0.42	1.02	1.1	0.91	0.73
Operating Cash Flow to Current Liabilities	0.46	-0.32	0.11	0.3	0.31
Days Sales Outstanding (Average Receivables)	12.48	36.17	23.94	14.98	13.36
Days Outstanding Inventory (Average Inventory)	13.18	20.37	16.35	12.02	13.64
Average Days Payable Outstanding	32.37	44.02	35.42	34.09	36.48
Cash Conversion Cycle (Average Days)	-6.71	12.51	4.88	-7.09	-9.48
Long Term Solvency
Total Debt/Equity