United Airlines Holdings, Inc(NASDAQ:UAL) 
United Airlines Holdings, Inc., through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also sells fuel; and offers cat...
Website: http://www.united.com
Founded: 1926
Full Time Employees: 87,887
Sector: Industrials
Industry: Airlines
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At a glance:
- Operating Performance Tied to Passenger Demand and Network Optimization: Results are primarily driven by domestic and international passenger demand, capacity discipline, and how effectively United optimizes its route network and fleet utilization.
- Fuel and Non-Fuel Costs Remain Key Earnings Sensitivities: Profitability is highly sensitive to jet fuel prices and refining spreads, along with labor, maintenance, and airport-related costs; wage and contract dynamics can materially influence margins.
- Balance Sheet Priorities: Debt Reduction and Liquidity Management: United’s financial strategy often emphasizes maintaining ample liquidity while managing and reducing leverage accumulated during the pandemic, which affects interest expense and financial flexibility.
- Operational Reliability and Customer Experience Impact Revenue Quality: On-time performance, cancellations, and service quality can influence pricing power and loyalty-driven revenue, especially for premium cabins and corporate travel recovery trends.
- Competitive Landscape and Capacity Decisions Drive Unit Revenue: Unit revenue performance depends on industry capacity growth, competitive pricing, and United’s ability to capture higher-yield traffic through premium offerings and international expansion.
Bull Thesis:
- Robust Travel Demand and Network Strength: United Airlines continues to benefit from strong pent-up demand for both leisure and business travel, particularly in international markets where UAL has a significant presence. Its strategically located hubs and extensive global network provide a competitive advantage in capturing high-value traffic.
- Premiumization Strategy and Revenue Growth: UAL's focus on premium products and services (e.g., Polaris business class, Premium Plus economy) is driving higher revenue per available seat mile (RASM). This strategy caters to higher-paying customers and improves overall profitability, making the airline less susceptible to fare wars in basic economy.
- Fleet Modernization and Operational Efficiency: The company is actively modernizing its fleet with newer, more fuel-efficient aircraft. This not only reduces operating costs and carbon emissions but also enhances the passenger experience, potentially leading to improved reliability and customer satisfaction.
- Valuable Loyalty Program (MileagePlus): United's MileagePlus loyalty program is a significant asset, generating substantial revenue through co-branded credit cards and partnerships. The program fosters customer loyalty and provides a stable, high-margin revenue stream that can partially offset cyclicality in core airline operations.
Bear Thesis:
- Persistent High Fuel Costs and Volatility: Airlines remain highly exposed to fluctuations in jet fuel prices. Geopolitical events and supply chain disruptions can lead to sudden spikes, significantly impacting UAL's operating expenses and eroding profit margins, despite hedging efforts.
- Labor Cost Pressures and Negotiations: The airline industry is facing significant labor cost inflation, driven by ongoing negotiations with pilot, flight attendant, and mechanic unions. New contracts often include substantial wage increases and improved benefits, which can put upward pressure on UAL's operating costs for the foreseeable future.
- Risk of Economic Slowdown and Reduced Demand: A global or domestic economic recession could lead to a significant reduction in both leisure and business travel demand. This would result in lower passenger volumes, increased fare competition, and ultimately, a negative impact on UAL's revenue and profitability.
- Operational Challenges and Infrastructure Constraints: United, like other major carriers, faces ongoing operational challenges including air traffic control (ATC) limitations, staffing shortages (e.g., pilots, ground staff), and adverse weather events. These issues can lead to flight delays, cancellations, increased costs, and damage to customer satisfaction.
Main Competitors:
- Delta Air Lines, Inc. ($DAL) (Airline services), A direct legacy competitor, Delta competes with United across domestic and international routes, particularly in key business markets and through its global SkyTeam alliance. They vie for premium passengers, corporate contracts, and market share by focusing on operational reliability, customer service, and a strong loyalty program.
- American Airlines Group Inc. ($AAL) (Airline services), Another major legacy carrier, American Airlines directly competes with United on network size, frequency, and connectivity, especially through its Oneworld alliance. They battle for market dominance in major hubs, international gateways, and through their respective loyalty programs and corporate travel offerings.
- Southwest Airlines Co. ($LUV) (Airline services), Southwest is a significant low-cost competitor, primarily on domestic point-to-point routes. While often serving different segments, Southwest's competitive pricing, no change fees policy, and strong customer loyalty can draw leisure and some business travelers away from United, particularly on shorter-haul flights.
- Alaska Air Group, Inc. ($ALK) (Airline services), Alaska Airlines is a strong regional and growing national competitor, particularly on the West Coast and increasingly across the US. Known for its customer service and operational efficiency, Alaska competes with United on specific routes, often offering a premium experience at competitive prices, and is part of the Oneworld alliance.
Moat:
United Airlines Holdings, Inc. operates in a highly competitive industry characterized by significant capital investment, regulatory oversight, and sensitivity to economic conditions. Its primary moat lies in its extensive global network, including its major hub airports and its leadership role in the Star Alliance, which provides unparalleled international reach. A strong loyalty program (MileagePlus), significant fleet size, and established brand recognition also contribute to its competitive advantages. However, United faces intense competition on multiple fronts: from other legacy carriers (Delta, American) for premium and corporate travelers, from low-cost carriers (Southwest, Spirit, Frontier) on price-sensitive domestic routes, and from international carriers on long-haul routes. The industry also sees constant pressure on pricing, the need for continuous investment in fleet modernization and technology, and vulnerability to external shocks like fuel price volatility and geopolitical events.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-03-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2013-12-31 | 2013-09-30 | 2012-12-31 | 2012-09-30 | 2010-03-31 | 2009-12-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-09-30 | 2008-02-01 | 2007-06-30 | 2003-12-31 | 2003-03-28 |
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operating revenue: | |||||||||||||||||||||||||||||||||||||||||
passenger revenue | 13,815,000,000 | 13,836,000,000 | 11,860,000,000 | 10,274,000,000 | 6,348,000,000 | 6,878,000,000 | 6,637,000,000 | 4,366,000,000 | 2,316,000,000 | 2,348,750,000 | 1,649,000,000 | 681,000,000 | 7,065,000,000 | 9,933,000,000 | 10,481,000,000 | 10,486,000,000 | 8,725,000,000 | 9,556,000,000 | 10,120,000,000 | 9,880,000,000 | 8,149,000,000 | ||||||||||||||||||||
cargo revenue | 431,000,000 | 430,000,000 | 429,000,000 | ||||||||||||||||||||||||||||||||||||||
other operating revenue | 979,000,000 | 970,000,000 | 923,000,000 | 757,000,000 | 591,000,000 | 587,000,000 | 594,000,000 | 499,000,000 | 408,000,000 | 365,000,000 | 418,000,000 | 392,000,000 | 650,000,000 | 454,000,000 | 617,000,000 | 621,000,000 | 578,000,000 | 601,000,000 | 587,000,000 | 583,000,000 | 590,000,000 | 1,054,000,000 | 1,093,000,000 | 785,750,000 | 1,111,000,000 | ||||||||||||||||
total operating revenue | 15,225,000,000 | 15,236,000,000 | 13,213,000,000 | 12,539,000,000 | 11,429,000,000 | 7,566,000,000 | 8,192,000,000 | 7,750,000,000 | 5,471,000,000 | 3,221,000,000 | 2,985,750,000 | 2,489,000,000 | 1,475,000,000 | 7,979,000,000 | 8,092,750,000 | 11,380,000,000 | 11,402,000,000 | 9,589,000,000 | 10,491,000,000 | 11,003,000,000 | 10,777,000,000 | 9,032,000,000 | 9,438,000,000 | 9,878,000,000 | |||||||||||||||||
operating expense: | |||||||||||||||||||||||||||||||||||||||||
salaries and related costs | 4,555,000,000 | 4,413,000,000 | 4,155,000,000 | 3,932,000,000 | 3,322,000,000 | 2,787,000,000 | 2,579,000,000 | 2,487,000,000 | 2,276,000,000 | 2,224,000,000 | 1,838,500,000 | 2,229,000,000 | 2,170,000,000 | 2,955,000,000 | 2,248,250,000 | 3,063,000,000 | 3,057,000,000 | 2,873,000,000 | 2,924,000,000 | 2,930,000,000 | 2,878,000,000 | 2,726,000,000 | 2,704,000,000 | 2,812,000,000 | 1,627,750,000 | 2,209,000,000 | 948,000,000 | 2,819,000,000 | 954,000,000 | 963,000,000 | 921,000,000 | 1,037,000,000 | 1,019,000,000 | ||||||||
aircraft fuel | 2,997,000,000 | 2,775,000,000 | 2,701,000,000 | 2,954,000,000 | 3,174,000,000 | 2,230,000,000 | 1,962,000,000 | 1,710,000,000 | 1,232,000,000 | 851,000,000 | 618,500,000 | 508,000,000 | 240,000,000 | 1,726,000,000 | 1,676,000,000 | 2,296,000,000 | 2,385,000,000 | 2,023,000,000 | 2,380,000,000 | 2,572,000,000 | 2,390,000,000 | 1,965,000,000 | 1,875,000,000 | 1,809,000,000 | 2,345,000,000 | 3,262,000,000 | 958,000,000 | 2,341,000,000 | 1,064,000,000 | 665,000,000 | 799,000,000 | 2,461,000,000 | 1,206,000,000 | ||||||||
landing fees and other rent | 1,002,000,000 | 961,000,000 | 873,000,000 | 804,000,000 | 717,000,000 | 612,000,000 | 681,000,000 | 652,000,000 | 564,000,000 | 519,000,000 | 388,000,000 | 500,000,000 | 429,000,000 | 623,000,000 | 473,250,000 | 645,000,000 | 660,000,000 | 588,000,000 | 602,000,000 | 596,000,000 | 603,000,000 | 558,000,000 | 570,000,000 | 585,000,000 | 386,000,000 | 540,000,000 | 228,000,000 | 679,000,000 | 226,000,000 | 229,000,000 | 221,000,000 | 222,000,000 | 215,000,000 | ||||||||
aircraft maintenance materials and outside repairs | 779,000,000 | 865,000,000 | 731,000,000 | 773,000,000 | 702,000,000 | 407,000,000 | 399,000,000 | 346,000,000 | 302,000,000 | 269,000,000 | 164,750,000 | 115,000,000 | 110,000,000 | 434,000,000 | 329,750,000 | 490,000,000 | 421,000,000 | 408,000,000 | 434,000,000 | 455,000,000 | 438,000,000 | 440,000,000 | 479,000,000 | 451,000,000 | 347,500,000 | 472,000,000 | 222,000,000 | 712,000,000 | 253,000,000 | 240,000,000 | 225,000,000 | 256,000,000 | 284,000,000 | ||||||||
depreciation and amortization | 730,000,000 | 733,000,000 | 727,000,000 | 708,000,000 | 655,000,000 | 611,000,000 | 619,000,000 | 623,000,000 | 620,000,000 | 623,000,000 | 464,750,000 | 626,000,000 | 618,000,000 | 615,000,000 | 420,500,000 | 575,000,000 | 560,000,000 | 547,000,000 | 578,000,000 | 564,000,000 | 557,000,000 | 541,000,000 | 539,000,000 | 556,000,000 | 317,000,000 | 435,000,000 | 213,000,000 | 682,000,000 | 220,000,000 | 222,000,000 | 233,000,000 | 234,000,000 | 229,000,000 | ||||||||
regional capacity purchase | 686,000,000 | 676,000,000 | 650,000,000 | 585,000,000 | 615,000,000 | 565,000,000 | 601,000,000 | 520,000,000 | 547,000,000 | 479,000,000 | 387,500,000 | 425,000,000 | 388,000,000 | 737,000,000 | 531,000,000 | 721,000,000 | 715,000,000 | 688,000,000 | 638,000,000 | 663,000,000 | 681,000,000 | 619,000,000 | 580,000,000 | 567,000,000 | 459,250,000 | 621,000,000 | |||||||||||||||
distribution expenses | 555,000,000 | 487,000,000 | 496,000,000 | 480,000,000 | 403,000,000 | 226,000,000 | 235,000,000 | 218,000,000 | 139,000,000 | 85,000,000 | 94,750,000 | 53,000,000 | 31,000,000 | 295,000,000 | 308,500,000 | 432,000,000 | 442,000,000 | 360,000,000 | 396,000,000 | 427,000,000 | 393,000,000 | 342,000,000 | 328,000,000 | 352,000,000 | 263,000,000 | 377,000,000 | 137,000,000 | 389,000,000 | 145,000,000 | 139,000,000 | 118,000,000 | 181,000,000 | 197,000,000 | ||||||||
aircraft rent | 54,000,000 | 67,000,000 | 51,000,000 | 43,000,000 | 56,000,000 | 61,000,000 | 63,000,000 | 58,000,000 | 52,000,000 | 55,000,000 | 36,750,000 | 50,000,000 | 47,000,000 | 50,000,000 | 55,250,000 | 67,000,000 | 73,000,000 | 81,000,000 | 78,000,000 | 109,000,000 | 119,000,000 | 127,000,000 | 145,000,000 | 145,000,000 | 176,500,000 | 231,000,000 | 81,000,000 | 258,000,000 | 88,000,000 | 89,000,000 | 88,000,000 | 115,000,000 | 105,000,000 | ||||||||
special charges | -73,000,000 | 447,000,000 | -108,000,000 | 13,000,000 | 14,000,000 | -8,000,000 | 56,000,000 | -1,098,000,000 | -948,000,000 | -1,377,000,000 | -616,750,000 | -1,081,000,000 | -1,449,000,000 | 63,000,000 | 29,000,000 | 27,000,000 | 71,000,000 | 18,000,000 | 301,000,000 | 17,000,000 | 129,000,000 | 40,000,000 | 31,000,000 | 50,000,000 | 88,750,000 | 211,000,000 | |||||||||||||||
other operating expenses | 2,546,000,000 | 2,487,000,000 | 2,326,000,000 | 1,814,000,000 | 1,451,000,000 | 1,405,000,000 | 1,197,000,000 | 957,000,000 | 874,000,000 | 665,000,000 | 679,000,000 | 528,000,000 | 1,453,000,000 | 1,161,250,000 | 1,591,000,000 | 1,546,000,000 | 1,508,000,000 | 1,508,000,000 | 1,467,000,000 | 1,428,000,000 | 1,398,000,000 | 1,458,000,000 | 1,459,000,000 | 973,250,000 | 1,362,000,000 | 208,000,000 | 717,000,000 | 239,000,000 | 222,000,000 | 238,000,000 | 275,000,000 | 276,000,000 | |||||||||
total operating expense | 13,830,000,000 | 13,911,000,000 | 12,605,000,000 | 12,440,000,000 | 11,472,000,000 | 8,942,000,000 | 8,600,000,000 | 6,713,000,000 | 5,741,000,000 | 4,602,000,000 | |||||||||||||||||||||||||||||||
operating income | 1,395,000,000 | 1,325,000,000 | 607,000,000 | 99,000,000 | -43,000,000 | -1,376,000,000 | -408,000,000 | 1,037,000,000 | -270,000,000 | -1,381,000,000 | -1,056,000,000 | -1,615,000,000 | -1,637,000,000 | -972,000,000 | 860,000,000 | 1,473,000,000 | 1,472,000,000 | 495,000,000 | 652,000,000 | 1,203,000,000 | 1,161,000,000 | 276,000,000 | 729,000,000 | 1,092,000,000 | 235,000,000 | 508,000,000 | |||||||||||||||
yoy | 1309.09% | -1511.63% | -107.19% | -104.15% | -0.36% | -61.36% | -164.21% | -83.51% | 42.08% | -222.79% | -209.64% | -211.21% | -296.36% | 31.90% | 22.44% | 26.79% | 79.35% | -10.56% | 10.16% | 394.04% | -45.67% | ||||||||||||||||||||
qoq | 5.28% | 118.29% | 237.25% | -139.34% | -484.07% | -80.45% | 30.78% | -34.61% | -1.34% | 68.42% | -213.02% | -41.62% | 0.07% | 197.37% | -24.08% | -45.80% | 3.62% | 320.65% | -62.14% | -33.24% | 364.68% | -53.74% | |||||||||||||||||||
nonoperating income: | |||||||||||||||||||||||||||||||||||||||||
interest expense | -331,000,000 | -361,000,000 | -356,000,000 | -454,000,000 | -486,000,000 | -424,000,000 | -429,000,000 | -449,000,000 | -426,000,000 | -353,000,000 | -178,000,000 | -345,000,000 | -196,000,000 | -171,000,000 | -142,500,000 | -191,000,000 | -191,000,000 | -188,000,000 | -189,000,000 | -187,000,000 | -177,000,000 | -176,000,000 | -171,000,000 | -164,000,000 | -147,500,000 | -195,000,000 | -178,000,000 | -431,000,000 | -146,000,000 | -135,000,000 | -134,000,000 | -131,000,000 | -139,000,000 | ||||||||
interest income | 142,000,000 | 167,000,000 | 164,000,000 | 177,000,000 | 170,000,000 | 5,000,000 | 6,000,000 | 11,000,000 | 12,000,000 | 7,000,000 | 11,250,000 | 8,000,000 | 11,000,000 | 26,000,000 | 25,750,000 | 36,000,000 | 38,000,000 | 29,000,000 | 31,000,000 | 28,000,000 | 25,000,000 | 17,000,000 | 16,000,000 | 17,000,000 | 4,000,000 | 5,000,000 | 1,000,000 | 16,000,000 | 3,000,000 | 5,000,000 | 7,000,000 | 24,000,000 | 62,000,000 | ||||||||
interest capitalized | 53,000,000 | 51,000,000 | 48,000,000 | 61,000,000 | 38,000,000 | 24,000,000 | 23,000,000 | 18,000,000 | 22,000,000 | 17,000,000 | 13,500,000 | 16,000,000 | 17,000,000 | 21,000,000 | 16,250,000 | 22,000,000 | 21,000,000 | 22,000,000 | 19,000,000 | 18,000,000 | 14,000,000 | 19,000,000 | 20,000,000 | 20,000,000 | 8,750,000 | 12,000,000 | 2,000,000 | 7,000,000 | 3,000,000 | 2,000,000 | 3,000,000 | 6,000,000 | 4,000,000 | ||||||||
unrealized losses on investments | -13,000,000 | -21,000,000 | -22,000,000 | ||||||||||||||||||||||||||||||||||||||
miscellaneous | 9,000,000 | 41,000,000 | 36,000,000 | -10,000,000 | 41,000,000 | 19,000,000 | 88,000,000 | 20,000,000 | -49,000,000 | -19,000,000 | -329,250,000 | -411,000,000 | -207,000,000 | -699,000,000 | 8,000,000 | 9,000,000 | 14,000,000 | 9,000,000 | 43,000,000 | -1,000,000 | -166,000,000 | 48,000,000 | 15,000,000 | -12,000,000 | 52,000,000 | 24,000,000 | 47,000,000 | -10,000,000 | 35,000,000 | -6,000,000 | -186,000,000 | 1,000,000 | |||||||||
total nonoperating expense | -141,000,000 | -77,000,000 | -129,000,000 | -263,000,000 | -213,000,000 | -376,000,000 | -437,000,000 | -434,000,000 | -294,000,000 | -370,000,000 | -556,250,000 | -717,000,000 | -366,000,000 | -1,142,000,000 | -92,500,000 | -124,000,000 | -118,000,000 | -128,000,000 | -96,000,000 | -142,000,000 | -304,000,000 | -92,000,000 | -129,000,000 | -112,000,000 | |||||||||||||||||
income before income taxes | 1,255,000,000 | 1,248,000,000 | 478,000,000 | -845,000,000 | 603,000,000 | -1,612,250,000 | -2,332,000,000 | -2,003,000,000 | -2,114,000,000 | 767,500,000 | 1,349,000,000 | 1,354,000,000 | 367,000,000 | 556,000,000 | 1,061,000,000 | 857,000,000 | 184,000,000 | 600,000,000 | 980,000,000 | 106,750,000 | 382,000,000 | ||||||||||||||||||||
income tax expense | 306,000,000 | 275,000,000 | 175,500,000 | 325,000,000 | 302,000,000 | 75,000,000 | 94,000,000 | 225,000,000 | 173,000,000 | 37,000,000 | 20,000,000 | 343,000,000 | -1,000,000 | 3,000,000 | 192,000,000 | ||||||||||||||||||||||||||
net income | 949,000,000 | 973,000,000 | 387,000,000 | -124,000,000 | -194,000,000 | -1,377,000,000 | -646,000,000 | 473,000,000 | -434,000,000 | -1,357,000,000 | -1,293,000,000 | -1,841,000,000 | -1,627,000,000 | -1,704,000,000 | 641,000,000 | 1,024,000,000 | 1,052,000,000 | 292,000,000 | 462,000,000 | 836,000,000 | 684,000,000 | 147,000,000 | 580,000,000 | 637,000,000 | 140,000,000 | 379,000,000 | -82,000,000 | -594,000,000 | -57,000,000 | 28,000,000 | -382,000,000 | -779,000,000 | 274,000,000 | ||||||||
yoy | -865.32% | -299.48% | -90.99% | -141.01% | 1.47% | -50.04% | -125.69% | -73.33% | -20.36% | -301.72% | -279.79% | -254.66% | -683.56% | 38.74% | 22.49% | 53.80% | 98.64% | -20.34% | 31.24% | 388.57% | -61.21% | -270.73% | -163.80% | -78.53% | -23.75% | -89.78% | |||||||||||||||
qoq | -2.47% | 151.42% | 113.16% | -236.58% | -208.99% | -68.02% | 4.95% | -29.77% | 13.15% | -4.52% | -365.83% | -37.40% | -2.66% | 260.27% | -36.80% | -44.74% | 22.22% | 365.31% | -74.66% | -8.95% | 355.00% | -63.06% | -86.20% | 942.11% | -303.57% | -107.33% | -50.96% | ||||||||||||||
earnings per share, basic | 2.93 | 3 | 1.18 | -2 | 1.46 | -4.728 | -6.33 | -5.79 | 2.56 | 4.01 | 4.03 | 1.71 | 3.07 | 2.49 | 1.98 | 2.12 | 0.313 | 1.06 | -6.13 | 2.31 | |||||||||||||||||||||
earnings per share, diluted | 2.9 | 2.97 | 1.16 | -2 | 1.44 | -4.728 | -6.33 | -5.79 | 2.54 | 3.99 | 4.02 | 1.71 | 3.06 | 2.48 | 1.98 | 2.12 | 0.288 | 0.98 | -6.13 | 1.83 | |||||||||||||||||||||
unrealized gains on investments | 26,000,000 | -37,000,000 | 24,000,000 | -125,000,000 | -34,000,000 | 147,000,000 | -73,750,000 | 15,000,000 | 9,000,000 | -319,000,000 | |||||||||||||||||||||||||||||||
income tax benefit | 91,000,000 | -40,000,000 | -62,000,000 | -375,000,000 | -98,500,000 | 130,000,000 | -130,000,000 | -394,000,000 | -319,250,000 | -491,000,000 | -376,000,000 | -410,000,000 | 1,000,000 | -13,000,000 | -4,000,000 | -13,000,000 | -29,000,000 | 2,000,000 | |||||||||||||||||||||||
passenger | 11,313,000,000 | ||||||||||||||||||||||||||||||||||||||||
cargo | 391,000,000 | 398,000,000 | 627,000,000 | 727,000,000 | 519,000,000 | 606,000,000 | 497,000,000 | 272,000,000 | 422,000,000 | 402,000,000 | 264,000,000 | 215,750,000 | 282,000,000 | 295,000,000 | 286,000,000 | 334,000,000 | 296,000,000 | 314,000,000 | 293,000,000 | 304,000,000 | 257,000,000 | 165,500,000 | 199,000,000 | 157,000,000 | 411,000,000 | 125,000,000 | 121,000,000 | 124,000,000 | 219,000,000 | 181,000,000 | |||||||||||
other | 835,000,000 | ||||||||||||||||||||||||||||||||||||||||
income before income tax benefit | -164,000,000 | -256,000,000 | -1,752,000,000 | -564,000,000 | -1,751,000,000 | ||||||||||||||||||||||||||||||||||||
loss per share, basic and diluted | -0.38 | -0.59 | -4.24 | -1.34 | -4.29 | -0.49 | -0.098 | -0.39 | -2.64 | ||||||||||||||||||||||||||||||||
total operating expenses | 4,041,750,000 | 4,104,000,000 | 3,112,000,000 | 8,951,000,000 | 7,232,750,000 | 9,907,000,000 | 9,930,000,000 | 9,094,000,000 | 7,043,000,000 | 9,800,000,000 | 9,616,000,000 | 8,756,000,000 | 8,709,000,000 | 8,786,000,000 | |||||||||||||||||||||||||||
earnings per share, basic and diluted | -6.86 | 1.09 | 0.52 | 0.19 | |||||||||||||||||||||||||||||||||||||
passenger—mainline | 6,582,000,000 | 7,083,000,000 | 4,948,000,000 | 7,025,000,000 | |||||||||||||||||||||||||||||||||||||
passenger—regional | 1,498,000,000 | 1,445,000,000 | 1,338,250,000 | 1,893,000,000 | |||||||||||||||||||||||||||||||||||||
total passenger revenue | 8,080,000,000 | 8,528,000,000 | 6,286,250,000 | 8,918,000,000 | |||||||||||||||||||||||||||||||||||||
operating revenues: | |||||||||||||||||||||||||||||||||||||||||
passenger — united airlines | 3,026,000,000 | 816,750,000 | 3,267,000,000 | 2,941,000,000 | 2,701,000,000 | 4,280,000,000 | |||||||||||||||||||||||||||||||||||
passenger — regional affiliates | 840,000,000 | 211,000,000 | 844,000,000 | 749,000,000 | 659,000,000 | 834,000,000 | |||||||||||||||||||||||||||||||||||
other operating revenues | 218,000,000 | 628,000,000 | 197,000,000 | 207,000,000 | 207,000,000 | 232,000,000 | 260,000,000 | ||||||||||||||||||||||||||||||||||
operating expenses: | |||||||||||||||||||||||||||||||||||||||||
regional affiliates | 815,000,000 | 2,164,000,000 | 775,000,000 | 708,000,000 | 671,000,000 | 882,000,000 | 733,000,000 | ||||||||||||||||||||||||||||||||||
purchased services | 287,000,000 | 888,000,000 | 279,000,000 | 286,000,000 | 287,000,000 | 327,000,000 | 335,000,000 | ||||||||||||||||||||||||||||||||||
cost of third party sales | 57,000,000 | 171,000,000 | 59,000,000 | 60,000,000 | 53,000,000 | 75,000,000 | 77,000,000 | ||||||||||||||||||||||||||||||||||
impairments and special items | 18,000,000 | ||||||||||||||||||||||||||||||||||||||||
earnings from operations | 69,000,000 | -249,000,000 | 88,000,000 | 107,000,000 | 537,000,000 | ||||||||||||||||||||||||||||||||||||
other income: | |||||||||||||||||||||||||||||||||||||||||
income before income taxes and equity in earnings of affiliates | -82,000,000 | -15,500,000 | -62,000,000 | -412,000,000 | -778,000,000 | ||||||||||||||||||||||||||||||||||||
income before equity in earnings of affiliates | -83,000,000 | -14,500,000 | -58,000,000 | -383,000,000 | -780,000,000 | ||||||||||||||||||||||||||||||||||||
equity in earnings of affiliates, net of tax | 1,000,000 | 3,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||
other impairments and special items | 331,000,000 | 43,000,000 | 88,000,000 | -9,000,000 | |||||||||||||||||||||||||||||||||||||
goodwill impairment | |||||||||||||||||||||||||||||||||||||||||
earnings before income taxes and equity in earnings of affiliates | 14,000,000 | ||||||||||||||||||||||||||||||||||||||||
earnings before equity in earnings of affiliates | 27,000,000 | 273,000,000 | |||||||||||||||||||||||||||||||||||||||
asset impairment and special items | 119,000,000 | ||||||||||||||||||||||||||||||||||||||||
income from operations | -282,000,000 | -491,000,000 | |||||||||||||||||||||||||||||||||||||||
special operating items | |||||||||||||||||||||||||||||||||||||||||
passenger - united airlines | 3,968,000,000 | ||||||||||||||||||||||||||||||||||||||||
passenger - regional affiliates | 804,000,000 | ||||||||||||||||||||||||||||||||||||||||
earnings before income taxes and equity in earnings | |||||||||||||||||||||||||||||||||||||||||
of affiliates | 465,000,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-06-30 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-12-31 | 2008-09-30 | 2007-10-08 | 2007-06-30 | 2006-12-31 | 2005-12-31 | 2003-12-31 | 2003-03-28 | 2001-03-15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash and cash equivalents | 5,942,000,000 | 6,730,000,000 | 9,354,000,000 | 9,370,000,000 | 8,769,000,000 | 8,812,000,000 | 10,864,000,000 | 8,401,000,000 | 6,058,000,000 | 9,605,000,000 | 7,634,000,000 | 7,166,000,000 | 11,258,000,000 | 16,885,000,000 | 18,468,000,000 | 18,283,000,000 | 19,256,000,000 | 20,838,000,000 | 12,666,000,000 | 11,269,000,000 | 13,150,000,000 | 6,505,000,000 | 3,442,000,000 | 2,762,000,000 | 2,959,000,000 | 3,221,000,000 | 1,848,000,000 | 2,621,000,000 | 2,884,000,000 | 2,404,000,000 | 1,482,000,000 | 1,870,000,000 | 2,371,000,000 | 2,164,000,000 | 2,179,000,000 | 2,630,000,000 | 2,483,000,000 | 1,795,000,000 | 3,006,000,000 | 3,427,000,000 | 2,796,000,000 | 3,352,000,000 | 2,002,000,000 | 3,117,000,000 | 3,424,000,000 | 3,009,000,000 | 3,220,000,000 | 3,935,000,000 | 4,143,000,000 | 3,538,000,000 | 5,129,000,000 | 6,086,000,000 | 5,606,000,000 | 6,984,000,000 | 7,519,000,000 | 8,165,000,000 | 2,525,000,000 | 2,566,000,000 | 2,457,000,000 | 2,039,000,000 | 2,931,000,000 | 1,263,000,000 | 1,667,000,000 | 3,832,000,000 | 1,761,000,000 | 1,640,000,000 | 886,000,000 | 1,679,000,000 | ||
short-term investments | 6,298,000,000 | 6,599,000,000 | 6,262,000,000 | 5,960,000,000 | 5,706,000,000 | 5,352,000,000 | 4,384,000,000 | 5,591,000,000 | 8,330,000,000 | 9,533,000,000 | 9,522,000,000 | 9,248,000,000 | 7,437,000,000 | 3,190,000,000 | 211,000,000 | 123,000,000 | 166,000,000 | 230,000,000 | 309,000,000 | 414,000,000 | 552,000,000 | 958,000,000 | 1,779,000,000 | 2,182,000,000 | 2,167,000,000 | 2,223,000,000 | 2,219,000,000 | 2,314,000,000 | 2,187,000,000 | 2,071,000,000 | 2,316,000,000 | 2,458,000,000 | 2,278,000,000 | 2,215,000,000 | 2,249,000,000 | 2,226,000,000 | 2,202,000,000 | 2,177,000,000 | 2,190,000,000 | 2,172,000,000 | 2,189,000,000 | 2,256,000,000 | 2,382,000,000 | 2,397,000,000 | 2,372,000,000 | 2,015,000,000 | 1,901,000,000 | 1,801,000,000 | 1,821,000,000 | 1,852,000,000 | 1,551,000,000 | 1,618,000,000 | 1,667,000,000 | 1,373,000,000 | 1,060,000,000 | 722,000,000 | 2,899,000,000 | 2,582,000,000 | 312,000,000 | 77,000,000 | 78,000,000 | 388,000,000 | 665,000,000 | |||||||
receivables | 2,391,000,000 | 2,433,000,000 | 2,286,000,000 | 2,288,000,000 | 2,163,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
aircraft fuel, spare parts and supplies | 1,556,000,000 | 1,588,000,000 | 1,547,000,000 | 1,601,000,000 | 1,572,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses and other | 671,000,000 | 744,000,000 | 809,000,000 | 928,000,000 | 673,000,000 | 690,000,000 | 669,000,000 | 730,000,000 | 609,000,000 | 836,000,000 | 787,000,000 | 689,000,000 | 783,000,000 | 883,000,000 | 762,000,000 | 745,000,000 | 717,000,000 | 646,000,000 | 483,000,000 | 635,000,000 | 566,000,000 | 766,000,000 | 822,000,000 | 814,000,000 | 725,000,000 | 708,000,000 | 780,000,000 | 913,000,000 | 973,000,000 | 1,028,000,000 | 1,128,000,000 | 1,051,000,000 | 1,009,000,000 | 1,218,000,000 | 1,016,000,000 | 832,000,000 | 791,000,000 | 911,000,000 | 912,000,000 | 740,000,000 | 819,000,000 | 881,000,000 | 826,000,000 | 730,000,000 | 838,000,000 | 839,000,000 | 845,000,000 | 704,000,000 | 700,000,000 | 790,000,000 | 845,000,000 | 837,000,000 | 797,000,000 | 783,000,000 | 595,000,000 | 773,000,000 | 660,000,000 | 404,000,000 | 373,000,000 | 399,000,000 | 382,000,000 | 623,000,000 | 643,000,000 | 400,000,000 | 345,000,000 | 488,000,000 | 412,000,000 | 219,000,000 | 460,000,000 | |
total current assets | 16,857,000,000 | 18,094,000,000 | 20,258,000,000 | 20,148,000,000 | 18,883,000,000 | 18,571,000,000 | 20,003,000,000 | 18,696,000,000 | 18,487,000,000 | 23,306,000,000 | 21,586,000,000 | 20,058,000,000 | 22,689,000,000 | 24,371,000,000 | 22,612,000,000 | 21,834,000,000 | 23,057,000,000 | 24,673,000,000 | 16,019,000,000 | 14,800,000,000 | 16,476,000,000 | 10,041,000,000 | 7,905,000,000 | 8,194,000,000 | 8,533,000,000 | 8,910,000,000 | 7,608,000,000 | 8,671,000,000 | 8,881,000,000 | 8,287,000,000 | 7,113,000,000 | 7,877,000,000 | 8,248,000,000 | 7,724,000,000 | ||||||||||||||||||||||||||||||||||||
operating property and equipment | 46,121,000,000 | 44,968,000,000 | 43,896,000,000 | 43,430,000,000 | 42,908,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating lease right-of-use assets | 4,958,000,000 | 4,821,000,000 | 4,517,000,000 | 4,092,000,000 | 3,815,000,000 | 3,782,000,000 | 3,803,000,000 | 3,895,000,000 | 3,914,000,000 | 3,995,000,000 | 4,019,000,000 | 3,889,000,000 | 4,280,000,000 | 4,440,000,000 | 4,579,000,000 | 4,645,000,000 | 4,697,000,000 | 4,421,000,000 | 4,516,000,000 | 4,537,000,000 | 4,544,000,000 | 4,738,000,000 | 4,853,000,000 | 4,758,000,000 | 4,937,000,000 | 4,908,000,000 | 5,065,000,000 | |||||||||||||||||||||||||||||||||||||||||||
goodwill | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,527,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 4,523,000,000 | 2,695,000,000 | 2,697,000,000 | 2,703,000,000 | |||||||||||
intangible assets | 2,655,000,000 | 2,662,000,000 | 2,669,000,000 | 2,676,000,000 | 2,683,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investments in affiliates and other | 1,330,000,000 | 1,242,000,000 | 1,295,000,000 | 1,239,000,000 | 1,267,000,000 | 1,344,000,000 | 1,000,000,000 | 824,000,000 | 798,000,000 | 763,000,000 | 1,180,000,000 | 1,131,000,000 | 1,139,000,000 | 1,098,000,000 | 848,000,000 | 848,000,000 | 853,000,000 | 852,000,000 | 882,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
total noncurrent assets | 59,591,000,000 | 58,219,000,000 | 56,904,000,000 | 55,963,000,000 | 55,200,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total assets | 76,448,000,000 | 76,313,000,000 | 77,163,000,000 | 76,111,000,000 | 74,083,000,000 | 72,640,000,000 | 73,254,000,000 | 71,902,000,000 | 71,104,000,000 | 73,341,000,000 | 70,417,000,000 | 67,358,000,000 | 68,968,000,000 | 70,381,000,000 | 69,038,000,000 | 68,175,000,000 | 69,294,000,000 | 71,049,000,000 | 61,662,000,000 | 59,548,000,000 | 61,189,000,000 | 54,901,000,000 | 53,055,000,000 | 52,611,000,000 | 52,199,000,000 | 52,150,000,000 | 50,639,000,000 | 44,837,000,000 | 44,691,000,000 | 44,018,000,000 | 42,326,000,000 | 42,565,000,000 | 42,307,000,000 | 41,445,000,000 | ||||||||||||||||||||||||||||||||||||
liabilities and stockholders' equity | 2,023,000,000 | 2,022,000,000 | 2,021,000,000 | 2,020,000,000 | 2,019,000,000 | 2,003,000,000 | 2,002,000,000 | 2,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 4,567,000,000 | 4,636,000,000 | 4,920,000,000 | 4,694,000,000 | 4,193,000,000 | 4,008,000,000 | 4,478,000,000 | 4,344,000,000 | 3,835,000,000 | 4,172,000,000 | 3,858,000,000 | 3,395,000,000 | 3,534,000,000 | 3,755,000,000 | 2,966,000,000 | 2,562,000,000 | 2,199,000,000 | 2,218,000,000 | 1,838,000,000 | 1,595,000,000 | 1,831,000,000 | 1,725,000,000 | 2,436,000,000 | 2,703,000,000 | 2,848,000,000 | 3,033,000,000 | 2,707,000,000 | 2,581,000,000 | 2,703,000,000 | 2,399,000,000 | 2,196,000,000 | 2,231,000,000 | 2,225,000,000 | 2,135,000,000 | 2,139,000,000 | 2,138,000,000 | 2,240,000,000 | 2,065,000,000 | 1,869,000,000 | 2,082,000,000 | 2,322,000,000 | 2,074,000,000 | 1,882,000,000 | 2,085,000,000 | 2,441,000,000 | 2,332,000,000 | 2,087,000,000 | 2,126,000,000 | 2,298,000,000 | 2,293,000,000 | 2,188,000,000 | 2,165,000,000 | 2,220,000,000 | 1,808,000,000 | 1,999,000,000 | 1,897,000,000 | 807,000,000 | 791,000,000 | 784,000,000 | 829,000,000 | 821,000,000 | 830,000,000 | 861,000,000 | 667,000,000 | 596,000,000 | 501,000,000 | 284,000,000 | 1,188,000,000 | ||
accrued salaries and benefits | 3,900,000,000 | 3,555,000,000 | 3,211,000,000 | 2,394,000,000 | 3,289,000,000 | 2,802,000,000 | 2,383,000,000 | 2,128,000,000 | 2,940,000,000 | 3,223,000,000 | 1,970,000,000 | 1,971,000,000 | 1,841,000,000 | 1,943,000,000 | 2,008,000,000 | 2,121,000,000 | 2,207,000,000 | 2,228,000,000 | 2,267,000,000 | 1,960,000,000 | 1,994,000,000 | 1,669,000,000 | 1,647,000,000 | 2,271,000,000 | 2,104,000,000 | 1,871,000,000 | 1,660,000,000 | 2,004,000,000 | 1,782,000,000 | 1,637,000,000 | 2,166,000,000 | 1,983,000,000 | 1,812,000,000 | 1,569,000,000 | 2,307,000,000 | 2,282,000,000 | 1,969,000,000 | 1,822,000,000 | 2,350,000,000 | 2,187,000,000 | 1,846,000,000 | 1,597,000,000 | 1,818,000,000 | 1,651,000,000 | 1,460,000,000 | 1,363,000,000 | 1,696,000,000 | 1,844,000,000 | 1,480,000,000 | 1,455,000,000 | 1,328,000,000 | 1,230,000,000 | 1,139,000,000 | 1,404,000,000 | 1,229,000,000 | 1,208,000,000 | ||||||||||||||
advance ticket sales | 8,131,000,000 | 9,338,000,000 | 9,664,000,000 | 10,477,000,000 | 7,561,000,000 | 8,477,000,000 | 9,365,000,000 | 9,601,000,000 | 6,704,000,000 | 10,102,000,000 | 10,158,000,000 | 7,555,000,000 | 8,747,000,000 | 9,931,000,000 | 8,904,000,000 | 6,354,000,000 | 6,363,000,000 | 6,960,000,000 | 5,502,000,000 | 4,833,000,000 | 4,907,000,000 | 4,950,000,000 | 5,309,000,000 | 4,819,000,000 | 5,515,000,000 | 6,126,000,000 | 6,006,000,000 | 5,193,000,000 | 5,826,000,000 | 5,501,000,000 | 3,876,000,000 | 4,537,000,000 | 5,102,000,000 | 5,001,000,000 | 3,730,000,000 | 4,558,000,000 | 5,323,000,000 | 4,958,000,000 | 3,753,000,000 | 4,492,000,000 | 5,175,000,000 | 4,932,000,000 | 3,701,000,000 | 4,514,000,000 | 5,027,000,000 | 4,804,000,000 | 3,405,000,000 | 4,123,000,000 | 4,801,000,000 | 4,633,000,000 | 3,849,000,000 | 4,667,000,000 | 4,433,000,000 | 3,761,000,000 | 4,497,000,000 | 4,324,000,000 | 1,675,000,000 | 1,916,000,000 | 1,768,000,000 | 1,530,000,000 | 2,251,000,000 | 2,246,000,000 | 2,657,000,000 | 1,669,000,000 | 1,575,000,000 | 1,330,000,000 | 1,021,000,000 | 1,454,000,000 | ||
frequent flyer deferred revenue | 3,721,000,000 | 3,642,000,000 | 3,552,000,000 | 3,473,000,000 | 3,403,000,000 | 3,314,000,000 | 3,252,000,000 | 3,086,000,000 | 3,095,000,000 | 2,841,000,000 | 2,832,000,000 | 2,693,000,000 | 2,642,000,000 | 2,590,000,000 | 2,516,000,000 | 2,239,000,000 | 2,129,000,000 | 2,099,000,000 | 1,251,000,000 | 908,000,000 | 772,000,000 | 840,000,000 | 1,355,000,000 | 2,440,000,000 | 2,537,000,000 | 2,435,000,000 | 2,388,000,000 | 2,275,000,000 | 2,206,000,000 | 2,221,000,000 | 2,176,000,000 | 1,992,000,000 | 2,069,000,000 | 2,120,000,000 | 2,135,000,000 | 2,168,000,000 | 2,132,000,000 | 2,098,000,000 | 2,117,000,000 | 2,138,000,000 | 2,116,000,000 | 2,059,000,000 | 2,058,000,000 | 2,090,000,000 | 2,147,000,000 | 2,318,000,000 | 2,369,000,000 | 2,378,000,000 | 2,343,000,000 | 2,312,000,000 | 2,405,000,000 | 2,526,000,000 | 2,607,000,000 | 2,507,000,000 | 2,491,000,000 | 2,565,000,000 | ||||||||||||||
current maturities of long-term debt, finance leases, and other financial liabilities | 4,426,000,000 | 4,621,000,000 | 6,194,000,000 | 3,265,000,000 | 3,453,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current maturities of operating leases | 631,000,000 | 563,000,000 | 541,000,000 | 506,000,000 | 467,000,000 | 491,000,000 | 548,000,000 | 557,000,000 | 576,000,000 | 571,000,000 | 610,000,000 | 561,000,000 | 546,000,000 | 543,000,000 | 538,000,000 | 556,000,000 | 569,000,000 | 583,000,000 | 623,000,000 | 612,000,000 | 623,000,000 | 598,000,000 | 688,000,000 | 686,000,000 | 778,000,000 | 637,000,000 | 639,000,000 | |||||||||||||||||||||||||||||||||||||||||||
other | 757,000,000 | 763,000,000 | 910,000,000 | 990,000,000 | 948,000,000 | 838,000,000 | 894,000,000 | 910,000,000 | 806,000,000 | 826,000,000 | 897,000,000 | 779,000,000 | 746,000,000 | 678,000,000 | 613,000,000 | 560,000,000 | 1,083,000,000 | 819,000,000 | 724,000,000 | 724,000,000 | 944,000,000 | 558,000,000 | 538,000,000 | 566,000,000 | 574,000,000 | 604,000,000 | 601,000,000 | 619,000,000 | 585,000,000 | 571,000,000 | 646,000,000 | 569,000,000 | 703,000,000 | 685,000,000 | 618,000,000 | 579,000,000 | 549,000,000 | 528,000,000 | 546,000,000 | 553,000,000 | 828,000,000 | 916,000,000 | 669,000,000 | 665,000,000 | 706,000,000 | 773,000,000 | 748,000,000 | 740,000,000 | 729,000,000 | 822,000,000 | 788,000,000 | 756,000,000 | 739,000,000 | 730,000,000 | 795,000,000 | 816,000,000 | 731,000,000 | 1,010,000,000 | 996,000,000 | 1,019,000,000 | 999,000,000 | 817,000,000 | 739,000,000 | 755,000,000 | 737,000,000 | 585,000,000 | 717,000,000 | 918,000,000 | 850,000,000 | |
total current liabilities | 26,133,000,000 | 27,119,000,000 | 28,992,000,000 | 25,798,000,000 | 23,314,000,000 | 23,365,000,000 | 25,855,000,000 | 24,764,000,000 | 22,203,000,000 | 25,575,000,000 | 23,635,000,000 | 19,992,000,000 | 21,989,000,000 | 23,444,000,000 | 21,788,000,000 | 18,304,000,000 | 16,935,000,000 | 18,064,000,000 | 14,167,000,000 | 12,725,000,000 | 15,791,000,000 | 16,395,000,000 | 16,087,000,000 | 14,938,000,000 | 15,691,000,000 | 16,078,000,000 | 15,335,000,000 | 13,684,000,000 | 14,092,000,000 | 14,183,000,000 | 12,676,000,000 | 13,087,000,000 | 13,596,000,000 | 12,662,000,000 | ||||||||||||||||||||||||||||||||||||
long-term debt, finance leases, and other financial liabilities | 20,562,000,000 | 20,807,000,000 | 20,885,000,000 | 24,398,000,000 | 25,203,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
long-term obligations under operating leases | 5,417,000,000 | 5,331,000,000 | 5,166,000,000 | 4,756,000,000 | 4,510,000,000 | 4,432,000,000 | 4,443,000,000 | 4,517,000,000 | 4,503,000,000 | 4,607,000,000 | 4,569,000,000 | 4,459,000,000 | 4,803,000,000 | 4,997,000,000 | 5,143,000,000 | 5,152,000,000 | 5,163,000,000 | 4,920,000,000 | 4,985,000,000 | 4,986,000,000 | 4,943,000,000 | 5,113,000,000 | 5,060,000,000 | 4,946,000,000 | 4,941,000,000 | 5,034,000,000 | 5,145,000,000 | |||||||||||||||||||||||||||||||||||||||||||
pension and postretirement benefit liability | 1,058,000,000 | 974,000,000 | 1,199,000,000 | 1,252,000,000 | 1,233,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income taxes | 2,463,000,000 | 2,206,000,000 | 1,919,000,000 | 1,624,000,000 | 1,580,000,000 | 1,224,000,000 | 951,000,000 | 545,000,000 | 159,000,000 | 91,000,000 | 701,000,000 | 907,000,000 | 1,032,000,000 | 659,000,000 | 519,000,000 | 647,000,000 | 520,000,000 | 131,000,000 | 389,000,000 | 804,000,000 | 1,322,000,000 | 1,736,000,000 | 1,594,000,000 | 1,192,000,000 | 898,000,000 | 814,000,000 | 639,000,000 | 419,000,000 | 250,000,000 | 127,000,000 | 598,000,000 | 655,000,000 | 863,000,000 | 1,392,000,000 | 1,800,000,000 | 2,037,000,000 | 1,306,000,000 | 619,000,000 | 575,000,000 | 591,000,000 | 582,000,000 | 586,000,000 | 620,000,000 | 676,000,000 | 568,000,000 | 540,000,000 | 494,000,000 | 641,000,000 | 658,000,000 | 610,000,000 | 643,000,000 | 622,000,000 | 554,000,000 | 92,000,000 | 102,000,000 | 202,000,000 | 263,000,000 | 127,000,000 | 77,000,000 | 66,000,000 | 122,000,000 | 428,000,000 | 22,000,000 | 249,000,000 | 225,000,000 | |||||
total noncurrent liabilities | 35,033,000,000 | 34,886,000,000 | 34,798,000,000 | 37,697,000,000 | 38,094,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock at par, 0.01 par value... | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||
additional capital invested | 8,911,000,000 | 8,878,000,000 | 8,855,000,000 | 8,813,000,000 | 8,980,000,000 | 8,945,000,000 | 9,001,000,000 | 8,973,000,000 | 8,992,000,000 | 8,945,000,000 | 8,926,000,000 | 8,986,000,000 | 8,970,000,000 | 8,970,000,000 | 8,953,000,000 | 9,156,000,000 | 9,094,000,000 | 9,042,000,000 | 8,923,000,000 | 8,366,000,000 | 7,383,000,000 | 7,307,000,000 | 6,096,000,000 | 6,129,000,000 | 6,111,000,000 | 6,096,000,000 | 6,080,000,000 | 6,105,000,000 | 6,091,000,000 | 6,077,000,000 | 6,098,000,000 | 6,591,000,000 | 6,577,000,000 | 6,562,000,000 | 6,569,000,000 | 7,974,000,000 | 7,965,000,000 | 7,956,000,000 | 7,946,000,000 | 7,941,000,000 | 7,938,000,000 | 7,932,000,000 | 7,721,000,000 | 7,620,000,000 | 7,636,000,000 | 7,666,000,000 | 7,425,000,000 | 7,410,000,000 | 7,354,000,000 | 7,159,000,000 | 7,140,000,000 | 7,135,000,000 | 7,130,000,000 | 7,110,000,000 | 7,106,000,000 | 7,100,000,000 | 3,001,000,000 | 2,970,000,000 | 2,970,000,000 | 2,666,000,000 | 2,536,000,000 | 2,122,000,000 | 2,106,000,000 | 2,053,000,000 | 5,064,000,000 | 5,066,000,000 | 5,070,000,000 | 4,530,000,000 | ||
stock held in treasury, at cost | -3,773,000,000 | -3,745,000,000 | -3,737,000,000 | -3,502,000,000 | -3,377,000,000 | -3,299,000,000 | -3,368,000,000 | -3,372,000,000 | -3,441,000,000 | -3,442,000,000 | -3,443,000,000 | -3,534,000,000 | -3,533,000,000 | -3,551,000,000 | -3,552,000,000 | -3,814,000,000 | -3,814,000,000 | -3,832,000,000 | -3,834,000,000 | -3,897,000,000 | -3,898,000,000 | -3,899,000,000 | -3,901,000,000 | -3,599,000,000 | -3,384,000,000 | -3,022,000,000 | -2,487,000,000 | -1,753,000,000 | -1,720,000,000 | -1,314,000,000 | -769,000,000 | -1,791,000,000 | -1,236,000,000 | -816,000,000 | -511,000,000 | -4,064,000,000 | -3,809,000,000 | -3,113,000,000 | -1,610,000,000 | -1,090,000,000 | -826,000,000 | -576,000,000 | -367,000,000 | -237,000,000 | -47,000,000 | -47,000,000 | -38,000,000 | -38,000,000 | -38,000,000 | -38,000,000 | -32,000,000 | -32,000,000 | -32,000,000 | -31,000,000 | -31,000,000 | -31,000,000 | -28,000,000 | -28,000,000 | -28,000,000 | -26,000,000 | -25,000,000 | -15,000,000 | -15,000,000 | |||||||
retained earnings | 10,092,000,000 | 9,049,000,000 | 8,110,000,000 | 7,137,000,000 | 6,880,000,000 | 5,896,000,000 | 4,986,000,000 | 3,664,000,000 | 3,831,000,000 | 2,095,000,000 | 1,020,000,000 | 1,265,000,000 | 421,000,000 | -515,000,000 | -844,000,000 | 625,000,000 | 1,271,000,000 | 804,000,000 | 1,239,000,000 | 2,626,000,000 | 4,524,000,000 | 6,365,000,000 | 7,991,000,000 | 9,716,000,000 | 9,075,000,000 | 8,050,000,000 | 6,999,000,000 | 6,668,000,000 | 6,203,000,000 | 5,367,000,000 | 4,684,000,000 | 4,621,000,000 | 4,991,000,000 | 4,354,000,000 | 3,536,000,000 | 3,427,000,000 | 5,323,000,000 | 4,358,000,000 | 3,770,000,000 | 3,457,000,000 | 2,634,000,000 | -5,199,000,000 | -3,896,000,000 | 467,000,000 | 132,000,000 | 16,000,000 | 1,998,000,000 | |||||||||||||||||||||||
accumulated other comprehensive income | 48,000,000 | 123,000,000 | 142,000,000 | 164,000,000 | 188,000,000 | -62,000,000 | 103,000,000 | 161,000,000 | 175,000,000 | -934,000,000 | -812,000,000 | -977,000,000 | -1,079,000,000 | 388,000,000 | 589,000,000 | 608,000,000 | -45,000,000 | 242,000,000 | 756,000,000 | 99,000,000 | 89,000,000 | 91,000,000 | 93,000,000 | 102,000,000 | 65,000,000 | 87,000,000 | 82,000,000 | 152,000,000 | ||||||||||||||||||||||||||||||||||||||||||
total stockholders' equity | 15,282,000,000 | 14,309,000,000 | 13,373,000,000 | 12,616,000,000 | 12,675,000,000 | 11,437,000,000 | 10,526,000,000 | 9,188,000,000 | 9,324,000,000 | 7,705,000,000 | 6,668,000,000 | 6,896,000,000 | 4,898,000,000 | 3,964,000,000 | 3,624,000,000 | 5,029,000,000 | 5,431,000,000 | 4,904,000,000 | 5,206,000,000 | 5,960,000,000 | 7,003,000,000 | 8,517,000,000 | 9,418,000,000 | 11,531,000,000 | 11,301,000,000 | 10,320,000,000 | 9,802,000,000 | 9,469,000,000 | 8,639,000,000 | |||||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders' equity | 76,448,000,000 | 76,313,000,000 | 77,163,000,000 | 76,111,000,000 | 74,083,000,000 | 72,640,000,000 | 73,254,000,000 | 71,902,000,000 | 71,104,000,000 | 73,341,000,000 | 70,417,000,000 | 67,358,000,000 | 68,968,000,000 | 70,381,000,000 | 69,038,000,000 | 68,175,000,000 | 69,294,000,000 | 71,049,000,000 | 61,662,000,000 | 59,548,000,000 | 61,189,000,000 | 54,901,000,000 | 53,055,000,000 | 52,611,000,000 | 52,199,000,000 | 52,150,000,000 | 50,639,000,000 | 44,837,000,000 | 44,691,000,000 | |||||||||||||||||||||||||||||||||||||||||
assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 36,000,000 | 30,000,000 | 40,000,000 | 31,000,000 | 38,000,000 | 173,000,000 | 45,000,000 | 61,000,000 | 43,000,000 | 41,000,000 | 37,000,000 | 254,000,000 | 254,000,000 | 254,000,000 | 255,000,000 | 76,000,000 | 73,000,000 | 106,000,000 | 106,000,000 | 100,000,000 | 105,000,000 | 103,000,000 | 105,000,000 | 94,000,000 | 95,000,000 | 91,000,000 | 96,000,000 | 115,000,000 | 129,000,000 | 124,000,000 | 123,000,000 | 124,000,000 | 162,000,000 | 204,000,000 | 206,000,000 | 214,000,000 | 271,000,000 | 44,000,000 | 32,000,000 | 48,000,000 | 49,000,000 | 31,000,000 | 46,000,000 | 40,000,000 | 50,000,000 | 79,000,000 | 120,000,000 | 42,000,000 | 50,000,000 | 46,000,000 | 71,000,000 | 99,000,000 | 68,000,000 | 46,000,000 | 54,000,000 | 91,000,000 | 341,000,000 | 439,000,000 | 341,000,000 | 643,000,000 | 679,000,000 | 462,000,000 | ||||||||
receivables, less allowance for credit losses | 2,042,000,000 | 2,376,000,000 | 2,259,000,000 | 1,898,000,000 | 2,004,000,000 | 2,274,000,000 | 1,801,000,000 | 2,034,000,000 | 2,217,000,000 | 2,062,000,000 | 1,663,000,000 | 1,709,000,000 | 1,793,000,000 | 1,389,000,000 | 1,295,000,000 | 1,171,000,000 | 857,000,000 | 792,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
aircraft fuel, spare parts and supplies, less obsolescence allowance | 1,639,000,000 | 1,680,000,000 | 1,675,000,000 | 1,561,000,000 | 1,290,000,000 | 1,196,000,000 | 1,109,000,000 | 1,116,000,000 | 1,153,000,000 | 1,068,000,000 | 983,000,000 | 955,000,000 | 912,000,000 | 918,000,000 | 932,000,000 | 961,000,000 | 955,000,000 | 1,070,000,000 | 1,072,000,000 | 1,065,000,000 | 996,000,000 | 972,000,000 | 1,011,000,000 | 942,000,000 | 924,000,000 | 924,000,000 | 937,000,000 | 882,000,000 | 900,000,000 | 873,000,000 | 842,000,000 | 798,000,000 | 759,000,000 | 738,000,000 | 704,000,000 | 656,000,000 | 631,000,000 | 666,000,000 | 700,000,000 | 685,000,000 | 641,000,000 | 667,000,000 | 646,000,000 | 555,000,000 | 690,000,000 | 675,000,000 | 611,000,000 | 645,000,000 | 628,000,000 | 508,000,000 | 619,000,000 | 216,000,000 | 228,000,000 | 228,000,000 | 237,000,000 | 283,000,000 | 218,000,000 | |||||||||||||
operating property and equipment: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
flight equipment | 50,933,000,000 | 49,814,000,000 | 49,277,000,000 | 48,448,000,000 | 45,784,000,000 | 44,298,000,000 | 42,775,000,000 | 40,867,000,000 | 40,044,000,000 | 39,733,000,000 | 39,584,000,000 | 39,312,000,000 | 39,109,000,000 | 38,851,000,000 | 38,218,000,000 | 38,167,000,000 | 37,339,000,000 | 36,763,000,000 | 35,421,000,000 | 34,413,000,000 | 33,890,000,000 | 33,705,000,000 | 1,029,000,000 | 30,516,000,000 | 30,143,000,000 | 29,651,000,000 | 28,692,000,000 | 29,043,000,000 | 28,397,000,000 | 27,187,000,000 | 25,873,000,000 | 25,093,000,000 | 24,853,000,000 | 24,348,000,000 | 23,728,000,000 | 23,231,000,000 | 22,555,000,000 | 21,864,000,000 | 21,107,000,000 | 20,367,000,000 | 19,983,000,000 | 19,376,000,000 | 18,786,000,000 | 18,486,000,000 | 18,145,000,000 | 17,888,000,000 | 16,753,000,000 | 16,412,000,000 | 16,035,000,000 | 15,692,000,000 | 15,618,000,000 | 15,552,000,000 | 8,414,000,000 | 8,539,000,000 | 8,521,000,000 | 8,766,000,000 | 9,239,000,000 | 9,212,000,000 | 9,009,000,000 | 8,958,000,000 | 13,443,000,000 | 14,014,000,000 | 15,533,000,000 | 14,888,000,000 | ||||||
other property and equipment | 11,865,000,000 | 11,295,000,000 | 10,940,000,000 | 10,527,000,000 | 9,822,000,000 | 9,590,000,000 | 9,334,000,000 | 9,195,000,000 | 9,019,000,000 | 8,941,000,000 | 8,764,000,000 | 8,633,000,000 | 8,683,000,000 | 8,581,000,000 | 8,511,000,000 | 8,470,000,000 | 8,350,000,000 | 8,200,000,000 | 7,926,000,000 | 7,626,000,000 | 7,371,000,000 | 7,165,000,000 | 7,919,000,000 | 7,765,000,000 | 7,481,000,000 | 7,193,000,000 | 6,946,000,000 | 6,186,000,000 | 6,103,000,000 | 5,887,000,000 | 5,652,000,000 | 5,237,000,000 | 4,947,000,000 | 4,715,000,000 | 4,542,000,000 | 4,342,000,000 | 4,220,000,000 | 4,092,000,000 | 4,016,000,000 | 3,934,000,000 | 3,850,000,000 | 3,759,000,000 | 3,687,000,000 | 3,474,000,000 | 3,527,000,000 | 3,357,000,000 | 3,151,000,000 | 3,118,000,000 | 3,066,000,000 | 3,059,000,000 | 2,993,000,000 | 2,921,000,000 | 1,722,000,000 | 1,717,000,000 | 1,732,000,000 | 1,751,000,000 | 1,758,000,000 | 1,536,000,000 | 1,488,000,000 | 1,441,000,000 | 3,837,000,000 | 3,818,000,000 | 3,882,000,000 | 3,714,000,000 | ||||||
purchase deposits for flight equipment | 3,414,000,000 | 3,457,000,000 | 3,558,000,000 | 3,550,000,000 | 3,102,000,000 | 2,993,000,000 | 2,820,000,000 | 2,532,000,000 | 2,338,000,000 | 2,260,000,000 | 2,215,000,000 | 2,179,000,000 | 1,980,000,000 | 1,439,000,000 | 1,166,000,000 | 1,174,000,000 | 1,624,000,000 | 1,859,000,000 | 1,360,000,000 | 1,446,000,000 | 1,351,000,000 | 1,455,000,000 | 1,101,000,000 | 894,000,000 | 1,025,000,000 | 1,344,000,000 | 1,044,000,000 | 822,000,000 | 922,000,000 | 1,059,000,000 | 1,068,000,000 | 919,000,000 | 866,000,000 | 788,000,000 | 736,000,000 | 951,000,000 | 602,000,000 | 706,000,000 | 734,000,000 | 799,000,000 | 688,000,000 | 706,000,000 | 674,000,000 | 610,000,000 | 534,000,000 | 613,000,000 | 450,000,000 | 418,000,000 | 359,000,000 | 304,000,000 | 269,000,000 | |||||||||||||||||||
total operating property and equipment | 66,212,000,000 | 64,566,000,000 | 63,775,000,000 | 62,525,000,000 | 58,708,000,000 | 56,881,000,000 | 54,929,000,000 | 52,594,000,000 | 51,401,000,000 | 50,934,000,000 | 50,563,000,000 | 50,124,000,000 | 49,772,000,000 | 48,871,000,000 | 47,895,000,000 | 47,811,000,000 | 47,313,000,000 | 46,822,000,000 | 44,707,000,000 | 29,332,000,000 | 28,918,000,000 | 28,586,000,000 | 27,308,000,000 | 26,946,000,000 | 26,739,000,000 | 26,208,000,000 | 25,629,000,000 | 25,017,000,000 | 24,241,000,000 | |||||||||||||||||||||||||||||||||||||||||
less — accumulated depreciation and amortization | -24,532,000,000 | -23,901,000,000 | -23,305,000,000 | -21,580,000,000 | -21,044,000,000 | -20,088,000,000 | -19,548,000,000 | -19,053,000,000 | -17,996,000,000 | -17,441,000,000 | -16,956,000,000 | -16,161,000,000 | -15,578,000,000 | -15,011,000,000 | -14,153,000,000 | -13,694,000,000 | -13,739,000,000 | -12,487,000,000 | -11,974,000,000 | -11,538,000,000 | -11,358,000,000 | -10,894,000,000 | -5,846,000,000 | -5,638,000,000 | -5,305,000,000 | -4,750,000,000 | -4,482,000,000 | -4,191,000,000 | -3,717,000,000 | -3,421,000,000 | -3,131,000,000 | |||||||||||||||||||||||||||||||||||||||
other assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
intangibles, less accumulated amortization | 2,691,000,000 | 2,699,000,000 | 2,717,000,000 | 2,725,000,000 | 2,744,000,000 | 2,753,000,000 | 2,762,000,000 | 2,772,000,000 | 2,782,000,000 | 2,792,000,000 | 2,803,000,000 | 2,815,000,000 | 2,827,000,000 | 2,840,000,000 | 2,838,000,000 | 2,852,000,000 | 2,852,000,000 | 2,945,000,000 | 3,009,000,000 | 3,114,000,000 | 3,129,000,000 | 3,144,000,000 | 3,382,000,000 | 3,399,000,000 | 3,521,000,000 | 3,539,000,000 | 3,558,000,000 | 3,592,000,000 | 3,612,000,000 | 3,632,000,000 | 3,654,000,000 | 3,677,000,000 | 4,112,000,000 | 4,136,000,000 | 4,193,000,000 | 4,220,000,000 | 4,257,000,000 | 4,284,000,000 | 4,330,000,000 | 4,372,000,000 | 4,402,000,000 | 4,436,000,000 | 4,487,000,000 | 4,523,000,000 | 4,561,000,000 | 4,650,000,000 | 4,681,000,000 | 4,712,000,000 | 4,772,000,000 | 4,815,000,000 | 4,866,000,000 | 2,472,000,000 | 2,507,000,000 | 2,564,000,000 | 2,693,000,000 | 2,726,000,000 | 2,912,000,000 | 2,950,000,000 | 3,028,000,000 | |||||||||||
investments in affiliates and other, less allowance for credit losses | 1,209,000,000 | 1,337,000,000 | 1,353,000,000 | 1,391,000,000 | 1,403,000,000 | 1,311,000,000 | 1,373,000,000 | 1,285,000,000 | 1,297,000,000 | 1,401,000,000 | 1,336,000,000 | 1,407,000,000 | 1,107,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total other assets | 8,607,000,000 | 8,783,000,000 | 8,841,000,000 | 8,888,000,000 | 8,912,000,000 | 8,975,000,000 | 8,963,000,000 | 9,493,000,000 | 9,717,000,000 | 9,966,000,000 | 9,622,000,000 | 9,412,000,000 | 9,624,000,000 | 9,212,000,000 | 8,745,000,000 | 8,519,000,000 | 8,387,000,000 | 8,486,000,000 | 9,489,000,000 | 9,397,000,000 | 9,414,000,000 | 9,380,000,000 | 8,858,000,000 | 8,864,000,000 | 8,992,000,000 | 9,005,000,000 | 9,059,000,000 | 9,042,000,000 | 9,480,000,000 | |||||||||||||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current maturities of long-term debt | 3,279,000,000 | 4,757,000,000 | 3,958,000,000 | 4,018,000,000 | 3,580,000,000 | 3,206,000,000 | 2,911,000,000 | 2,955,000,000 | 3,012,000,000 | 2,994,000,000 | 3,002,000,000 | 2,269,000,000 | 1,881,000,000 | 1,783,000,000 | 1,911,000,000 | 4,584,000,000 | 4,454,000,000 | 4,055,000,000 | 1,407,000,000 | 1,243,000,000 | 1,255,000,000 | 1,201,000,000 | 910,000,000 | 887,000,000 | 1,655,000,000 | 1,565,000,000 | 1,516,000,000 | 1,436,000,000 | 716,000,000 | 849,000,000 | 969,000,000 | 1,272,000,000 | 1,295,000,000 | 1,224,000,000 | 1,312,000,000 | 1,047,000,000 | 1,700,000,000 | 1,313,000,000 | 1,340,000,000 | 1,168,000,000 | 1,178,000,000 | 1,368,000,000 | 957,000,000 | 909,000,000 | 1,079,000,000 | 1,704,000,000 | 1,349,000,000 | 1,013,000,000 | 1,201,000,000 | 1,389,000,000 | 2,319,000,000 | |||||||||||||||||||
current maturities of finance leases | 87,000,000 | 110,000,000 | 117,000,000 | 172,000,000 | 225,000,000 | 75,000,000 | 104,000,000 | 72,000,000 | 78,000,000 | 64,000,000 | 76,000,000 | 116,000,000 | 144,000,000 | 179,000,000 | 182,000,000 | 136,000,000 | 93,000,000 | 59,000,000 | 46,000,000 | 92,000,000 | 117,000,000 | 133,000,000 | 149,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
current maturities of other financial liabilities | 69,000,000 | 68,000,000 | 63,000,000 | 57,000,000 | 35,000,000 | 29,000,000 | 23,000,000 | 906,000,000 | 914,000,000 | 1,185,000,000 | 834,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
long-term debt | 22,207,000,000 | 21,687,000,000 | 23,059,000,000 | 25,057,000,000 | 26,713,000,000 | 27,460,000,000 | 28,283,000,000 | 28,490,000,000 | 29,175,000,000 | 29,665,000,000 | 30,361,000,000 | 31,520,000,000 | 32,303,000,000 | 25,849,000,000 | 24,836,000,000 | 22,297,000,000 | 14,318,000,000 | 13,198,000,000 | 13,145,000,000 | 12,900,000,000 | 12,938,000,000 | 12,734,000,000 | 12,218,000,000 | 12,460,000,000 | 12,166,000,000 | 11,703,000,000 | 11,334,000,000 | 10,668,000,000 | 11,178,000,000 | 9,918,000,000 | 9,612,000,000 | 9,275,000,000 | 9,472,000,000 | 9,673,000,000 | 9,910,000,000 | 9,938,000,000 | 9,914,000,000 | 10,121,000,000 | 9,988,000,000 | 10,354,000,000 | 10,098,000,000 | 10,171,000,000 | 10,204,000,000 | 10,214,000,000 | 10,182,000,000 | 9,592,000,000 | 10,128,000,000 | 10,408,000,000 | 10,873,000,000 | 11,101,000,000 | 11,115,000,000 | 5,767,000,000 | 5,604,000,000 | 5,736,000,000 | 6,007,000,000 | 6,145,000,000 | 7,027,000,000 | 7,210,000,000 | 7,453,000,000 | 1,298,000,000 | 700,000,000 | 4,688,000,000 | ||||||||
long-term obligations under finance leases | 89,000,000 | 65,000,000 | 78,000,000 | 91,000,000 | 145,000,000 | 105,000,000 | 115,000,000 | 112,000,000 | 205,000,000 | 210,000,000 | 219,000,000 | 250,000,000 | 250,000,000 | 240,000,000 | 224,000,000 | 278,000,000 | 316,000,000 | 369,000,000 | 220,000,000 | 186,000,000 | 202,000,000 | 236,000,000 | 1,134,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
other liabilities and deferred credits: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension liability | 1,030,000,000 | 998,000,000 | 985,000,000 | 968,000,000 | 804,000,000 | 778,000,000 | 747,000,000 | 1,948,000,000 | 1,934,000,000 | 1,929,000,000 | 1,920,000,000 | 2,180,000,000 | 2,501,000,000 | 2,478,000,000 | 2,460,000,000 | 2,282,000,000 | 2,221,000,000 | 1,514,000,000 | 1,446,000,000 | 1,087,000,000 | 1,366,000,000 | 1,454,000,000 | 1,611,000,000 | 1,815,000,000 | 1,828,000,000 | 1,921,000,000 | 1,631,000,000 | 1,739,000,000 | 1,851,000,000 | 1,892,000,000 | 1,220,000,000 | 1,409,000,000 | 1,469,000,000 | 1,488,000,000 | 1,511,000,000 | 1,468,000,000 | 2,082,000,000 | 2,226,000,000 | 1,517,000,000 | 1,589,000,000 | 1,626,000,000 | 1,650,000,000 | 1,803,000,000 | 1,937,000,000 | 2,385,000,000 | 1,788,000,000 | 1,849,000,000 | 1,857,000,000 | 1,428,000,000 | 1,458,000,000 | 1,465,000,000 | |||||||||||||||||||
postretirement benefit liability | 594,000,000 | 612,000,000 | 625,000,000 | 637,000,000 | 641,000,000 | 658,000,000 | 671,000,000 | 946,000,000 | 964,000,000 | 986,000,000 | 1,000,000,000 | 961,000,000 | 988,000,000 | 1,013,000,000 | 994,000,000 | 1,012,000,000 | 957,000,000 | 775,000,000 | 789,000,000 | 836,000,000 | 1,277,000,000 | 1,287,000,000 | 1,577,000,000 | 1,585,000,000 | 1,593,000,000 | 1,602,000,000 | 1,588,000,000 | 1,597,000,000 | 1,608,000,000 | 1,581,000,000 | 1,927,000,000 | 1,880,000,000 | 1,879,000,000 | 1,882,000,000 | 1,918,000,000 | 1,927,000,000 | 1,933,000,000 | 1,933,000,000 | 1,684,000,000 | 1,689,000,000 | 1,701,000,000 | 1,703,000,000 | 2,653,000,000 | 2,642,000,000 | 2,632,000,000 | 2,461,000,000 | 2,438,000,000 | 2,415,000,000 | 2,393,000,000 | 2,383,000,000 | 2,366,000,000 | 1,808,000,000 | 1,819,000,000 | 1,813,000,000 | 1,812,000,000 | 1,852,000,000 | 1,934,000,000 | 1,959,000,000 | 1,955,000,000 | 1,932,000,000 | 1,924,000,000 | 1,809,000,000 | 1,557,000,000 | |||||||
other financial liabilities | 2,705,000,000 | 2,576,000,000 | 2,495,000,000 | 2,265,000,000 | 1,468,000,000 | 1,130,000,000 | 844,000,000 | 492,000,000 | 496,000,000 | 499,000,000 | 863,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total other liabilities and deferred credits | 11,110,000,000 | 10,678,000,000 | 10,296,000,000 | 9,926,000,000 | 8,596,000,000 | 7,980,000,000 | 7,613,000,000 | 8,676,000,000 | 8,596,000,000 | 8,608,000,000 | 9,110,000,000 | 9,995,000,000 | 10,608,000,000 | 11,215,000,000 | 10,817,000,000 | 10,877,000,000 | 10,242,000,000 | 8,923,000,000 | 7,831,000,000 | 7,180,000,000 | 7,578,000,000 | 7,387,000,000 | 8,350,000,000 | 8,461,000,000 | 8,314,000,000 | 8,145,000,000 | 8,206,000,000 | 8,245,000,000 | 8,320,000,000 | |||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -109,000,000 | -97,000,000 | -81,000,000 | -964,000,000 | -944,000,000 | -937,000,000 | -942,000,000 | -1,124,000,000 | -1,114,000,000 | -1,126,000,000 | -1,139,000,000 | -1,009,000,000 | -1,259,000,000 | -771,000,000 | -718,000,000 | -504,000,000 | -807,000,000 | -793,000,000 | -1,089,000,000 | -1,102,000,000 | -1,114,000,000 | -1,147,000,000 | -824,000,000 | -844,000,000 | -836,000,000 | -829,000,000 | -798,000,000 | -734,000,000 | -777,000,000 | -831,000,000 | 580,000,000 | -493,000,000 | -569,000,000 | -1,027,000,000 | -319,000,000 | -499,000,000 | -280,000,000 | -36,000,000 | -3,288,000,000 | -2,663,000,000 | ||||||||||||||||||||||||||||||
less—accumulated depreciation and amortization | -22,710,000,000 | -20,481,000,000 | -18,489,000,000 | -16,429,000,000 | -14,537,000,000 | -11,159,000,000 | -10,403,000,000 | -9,975,000,000 | -9,529,000,000 | -9,148,000,000 | -8,743,000,000 | -8,339,000,000 | -8,038,000,000 | -7,726,000,000 | -7,399,000,000 | -7,079,000,000 | -6,894,000,000 | -6,665,000,000 | -6,364,000,000 | -6,080,000,000 | -1,932,000,000 | -1,817,000,000 | -1,698,000,000 | -1,598,000,000 | -1,458,000,000 | -918,000,000 | -776,000,000 | -503,000,000 | ||||||||||||||||||||||||||||||||||||||||||
notes receivable, less allowance for credit losses | 76,000,000 | 31,000,000 | 144,000,000 | 141,000,000 | 149,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other financial liabilities from sale-leasebacks | 1,406,000,000 | 1,683,000,000 | 1,568,000,000 | 1,140,000,000 | 957,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payroll support program deferred credit | 1,132,000,000 | 1,508,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivables, less allowance for doubtful accounts | 1,364,000,000 | 1,617,000,000 | 1,762,000,000 | 1,789,000,000 | 1,346,000,000 | 1,752,000,000 | 1,840,000,000 | 1,760,000,000 | 1,340,000,000 | 1,603,000,000 | 1,499,000,000 | 1,429,000,000 | 1,176,000,000 | 1,481,000,000 | 1,450,000,000 | 1,581,000,000 | 1,128,000,000 | 1,513,000,000 | 1,471,000,000 | 1,471,000,000 | 1,146,000,000 | 1,559,000,000 | 1,665,000,000 | 1,609,000,000 | 1,503,000,000 | 1,693,000,000 | 1,732,000,000 | 1,679,000,000 | 1,862,000,000 | 1,818,000,000 | 1,908,000,000 | 1,713,000,000 | 1,863,000,000 | 2,357,000,000 | 843,000,000 | 921,000,000 | 738,000,000 | 714,000,000 | 1,037,000,000 | 1,095,000,000 | 1,138,000,000 | 820,000,000 | ||||||||||||||||||||||||||||
notes receivable | 671,000,000 | 529,000,000 | 518,000,000 | 512,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total operating property and equipment, at cost | 43,485,000,000 | 42,612,000,000 | 42,325,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less-accumulated depreciation and amortization | -12,760,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less-accumulated amortization | -654,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating lease assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
owned— | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total owned property and equipment | 38,281,000,000 | 37,624,000,000 | 36,844,000,000 | 35,638,000,000 | 35,229,000,000 | 34,500,000,000 | 33,074,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital leases— | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total capital leases | 1,244,000,000 | 1,235,000,000 | 1,216,000,000 | 1,162,000,000 | 1,624,000,000 | 1,467,000,000 | 1,589,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less — accumulated amortization | -831,000,000 | -833,000,000 | -808,000,000 | -910,000,000 | -878,000,000 | -811,000,000 | -784,000,000 | -747,000,000 | -676,000,000 | -639,000,000 | -602,000,000 | -532,000,000 | -499,000,000 | -462,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current maturities of capital leases | 136,000,000 | 117,000,000 | 124,000,000 | 128,000,000 | 125,000,000 | 115,000,000 | 113,000,000 | 116,000,000 | 124,000,000 | 128,000,000 | 114,000,000 | 135,000,000 | 137,000,000 | 111,000,000 | 112,000,000 | 110,000,000 | 99,000,000 | 98,000,000 | 112,000,000 | 117,000,000 | 117,000,000 | 119,000,000 | 121,000,000 | 120,000,000 | 119,000,000 | 127,000,000 | 138,000,000 | 138,000,000 | 148,000,000 | |||||||||||||||||||||||||||||||||||||||||
long-term obligations under capital leases | 1,116,000,000 | 1,039,000,000 | 1,019,000,000 | 996,000,000 | 968,000,000 | 944,000,000 | 836,000,000 | 822,000,000 | 752,000,000 | 740,000,000 | 725,000,000 | 727,000,000 | 762,000,000 | 563,000,000 | 560,000,000 | 571,000,000 | 667,000,000 | 700,000,000 | 736,000,000 | 753,000,000 | 781,000,000 | 724,000,000 | 765,000,000 | 828,000,000 | 851,000,000 | 888,000,000 | 945,000,000 | 970,000,000 | 1,002,000,000 | 1,212,000,000 | 1,197,000,000 | 1,235,000,000 | 1,192,000,000 | 1,049,000,000 | 1,129,000,000 | 1,330,000,000 | 1,350,000,000 | 102,000,000 | 163,000,000 | 2,261,000,000 | ||||||||||||||||||||||||||||||
lease fair value adjustment | 82,000,000 | 155,000,000 | 171,000,000 | 198,000,000 | 219,000,000 | 237,000,000 | 256,000,000 | 277,000,000 | 299,000,000 | 317,000,000 | 336,000,000 | 359,000,000 | 380,000,000 | 410,000,000 | 438,000,000 | 466,000,000 | 496,000,000 | 526,000,000 | 590,000,000 | 626,000,000 | 672,000,000 | 791,000,000 | 836,000,000 | 927,000,000 | 975,000,000 | 1,062,000,000 | 1,188,000,000 | 1,246,000,000 | ||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders’ equity | 2,017,000,000 | 2,016,000,000 | 2,015,000,000 | 2,014,000,000 | 2,013,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total stockholders’ equity | 8,336,000,000 | 8,806,000,000 | 8,970,000,000 | 8,854,000,000 | 8,449,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders’ equity | 44,018,000,000 | 42,326,000,000 | 42,565,000,000 | 42,307,000,000 | 41,445,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less—accumulated amortization | -777,000,000 | -941,000,000 | -941,000,000 | -959,000,000 | -1,025,000,000 | -1,008,000,000 | -998,000,000 | -988,000,000 | -931,000,000 | -929,000,000 | -886,000,000 | -862,000,000 | -855,000,000 | -886,000,000 | -849,000,000 | -310,000,000 | -279,000,000 | -252,000,000 | -224,000,000 | -200,000,000 | -151,000,000 | -127,000,000 | -81,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
advanced purchase of miles | 106,000,000 | 214,000,000 | 326,000,000 | 430,000,000 | 574,000,000 | 725,000,000 | 871,000,000 | 1,010,000,000 | 1,070,000,000 | 1,124,000,000 | 1,182,000,000 | 1,217,000,000 | 1,170,000,000 | 1,226,000,000 | 1,282,000,000 | 1,338,000,000 | 1,388,000,000 | 1,438,000,000 | 1,488,000,000 | 1,581,000,000 | 1,624,000,000 | 1,668,000,000 | 1,711,000,000 | 1,545,000,000 | 1,131,000,000 | 1,087,000,000 | 1,087,000,000 | 1,087,000,000 | 708,000,000 | 703,000,000 | 681,000,000 | |||||||||||||||||||||||||||||||||||||||
fuel hedge collateral deposits | 26,000,000 | 156,000,000 | 181,000,000 | 398,000,000 | 577,000,000 | 62,000,000 | 185,000,000 | 564,000,000 | 953,000,000 | 354,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current assets: - sum | 7,309,000,000 | 7,970,000,000 | 7,844,000,000 | 7,224,000,000 | 7,828,000,000 | 10,097,000,000 | 8,793,000,000 | 9,509,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating property and equipment: - sum | 31,525,000,000 | 30,330,000,000 | 29,800,000,000 | 29,063,000,000 | 28,270,000,000 | 27,573,000,000 | 26,775,000,000 | 25,956,000,000 | 25,123,000,000 | 24,301,000,000 | 23,833,000,000 | 23,135,000,000 | 22,473,000,000 | 21,960,000,000 | 21,672,000,000 | 21,245,000,000 | 19,904,000,000 | 19,530,000,000 | 19,101,000,000 | 18,751,000,000 | 18,611,000,000 | 18,473,000,000 | 10,851,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
other assets: - sum | 9,513,000,000 | 9,712,000,000 | 10,244,000,000 | 11,143,000,000 | 11,453,000,000 | 10,596,000,000 | 9,873,000,000 | 9,720,000,000 | 9,748,000,000 | 9,843,000,000 | 9,971,000,000 | 10,013,000,000 | 10,063,000,000 | 10,105,000,000 | 10,263,000,000 | 10,257,000,000 | 10,321,000,000 | 10,409,000,000 | 10,494,000,000 | 10,519,000,000 | 10,613,000,000 | 10,572,000,000 | 7,314,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
fuel derivative instruments | 4,000,000 | 7,000,000 | 32,000,000 | 124,000,000 | 329,000,000 | 401,000,000 | 648,000,000 | 694,000,000 | 175,000,000 | 477,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current liabilities: - sum | 12,286,000,000 | 13,253,000,000 | 13,982,000,000 | 13,380,000,000 | 12,414,000,000 | 13,488,000,000 | 13,810,000,000 | 13,969,000,000 | 12,508,000,000 | 12,864,000,000 | 13,334,000,000 | 13,091,000,000 | 12,107,000,000 | 12,604,000,000 | 12,927,000,000 | 12,892,000,000 | 13,057,000,000 | 13,312,000,000 | 12,486,000,000 | 11,898,000,000 | 12,762,000,000 | 13,874,000,000 | 7,859,000,000 | 5,234,000,000 | 6,112,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
other liabilities and deferred credits: - sum | 8,455,000,000 | 8,271,000,000 | 8,695,000,000 | 8,956,000,000 | 9,081,000,000 | 9,154,000,000 | 10,934,000,000 | 11,640,000,000 | 11,757,000,000 | 10,628,000,000 | 10,712,000,000 | 10,681,000,000 | 10,797,000,000 | 11,943,000,000 | 12,386,000,000 | 12,909,000,000 | 12,601,000,000 | 12,768,000,000 | 12,907,000,000 | 13,026,000,000 | 12,919,000,000 | 12,649,000,000 | 6,587,000,000 | 3,252,000,000 | 7,656,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: - sum | 8,659,000,000 | 8,439,000,000 | 7,784,000,000 | 7,840,000,000 | 8,966,000,000 | 8,555,000,000 | 4,122,000,000 | 3,008,000,000 | 2,396,000,000 | 3,864,000,000 | 3,347,000,000 | 2,579,000,000 | 2,984,000,000 | 1,728,000,000 | 1,217,000,000 | 94,000,000 | 1,827,000,000 | 1,635,000,000 | 1,510,000,000 | 2,312,000,000 | 1,942,000,000 | 1,912,000,000 | 2,640,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
accumulated deficit | -2,182,000,000 | -3,375,000,000 | -3,883,000,000 | -3,911,000,000 | -4,835,000,000 | -5,624,000,000 | -5,015,000,000 | -5,155,000,000 | -5,534,000,000 | -6,003,000,000 | -4,725,000,000 | -5,378,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total unrestricted cash, cash equivalents and short-term investments | 4,384,000,000 | 5,514,000,000 | 5,796,000,000 | 5,024,000,000 | 5,121,000,000 | 5,736,000,000 | 5,964,000,000 | 5,390,000,000 | 6,680,000,000 | 7,704,000,000 | 7,273,000,000 | 8,357,000,000 | 8,579,000,000 | 8,887,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
retained deficit | -4,965,000,000 | -4,972,000,000 | -5,311,000,000 | -5,916,000,000 | -5,719,000,000 | -5,662,000,000 | -5,690,000,000 | -29,122,000,000 | -6,225,000,000 | -3,417,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash, cash equivalents and investments | 337,000,000 | 358,000,000 | 354,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investments | 92,000,000 | 101,000,000 | 98,000,000 | 90,000,000 | 79,000,000 | 77,000,000 | 81,000,000 | 92,000,000 | 194,000,000 | 116,000,000 | 113,000,000 | 20,000,000 | 53,000,000 | 124,000,000 | 435,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
owned — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital leases — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
derivatives designated as cash flow hedges | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fuel contracts due within one year | 81,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
derivatives not designated as cash flow hedges | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid fuel | 285,000,000 | 311,000,000 | 223,000,000 | 219,000,000 | 524,000,000 | 418,000,000 | 414,000,000 | 283,000,000 | 258,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital leases: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
aircraft lease deposits | 307,000,000 | 314,000,000 | 298,000,000 | 297,000,000 | 306,000,000 | 327,000,000 | 557,000,000 | 539,000,000 | 477,000,000 | 679,000,000 | 776,000,000 | 710,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mileage plus deferred revenue | 1,428,000,000 | 1,353,000,000 | 1,371,000,000 | 1,414,000,000 | 1,381,000,000 | 1,201,000,000 | 1,269,000,000 | 1,111,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued salaries, wages and benefits | 731,000,000 | 728,000,000 | 767,000,000 | 756,000,000 | 785,000,000 | 823,000,000 | 818,000,000 | 795,000,000 | 844,000,000 | 2,299,000,000 | 1,496,000,000 | 1,508,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
long-term debt maturing within one year | 651,000,000 | 846,000,000 | 818,000,000 | 782,000,000 | 749,000,000 | 654,000,000 | 601,000,000 | 1,687,000,000 | 13,000,000 | 663,000,000 | 170,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fuel purchase commitments | 285,000,000 | 311,000,000 | 223,000,000 | 219,000,000 | 524,000,000 | 418,000,000 | 414,000,000 | 283,000,000 | 258,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current obligations under capital leases | 177,000,000 | 165,000,000 | 159,000,000 | 168,000,000 | 116,000,000 | 319,000,000 | 101,000,000 | 110,000,000 | 20,000,000 | 26,000,000 | 269,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued interest | 120,000,000 | 93,000,000 | 105,000,000 | 112,000,000 | 115,000,000 | 162,000,000 | 259,000,000 | 241,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
derivative instruments | 76,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
commitments and contingent liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ deficit: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
advances on flight equipment | 103,000,000 | 103,000,000 | 103,000,000 | 128,000,000 | 173,000,000 | 173,000,000 | 810,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fuel derivative payable | 858,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distribution payable | 4,000,000 | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mandatorily convertible preferred securities | 366,000,000 | 366,000,000 | 361,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
aircraft fuel, spare parts and supplies, less | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
obsolescence allowance | 230,000,000 | 210,000,000 | 193,000,000 | 264,000,000 | 310,000,000 | 424,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital leases: - sum | 1,546,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred pension liability | 137,000,000 | 133,000,000 | 130,000,000 | 95,000,000 | 4,747,000,000 | 4,661,000,000 | 136,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid rent | 7,000,000 | 67,000,000 | 158,000,000 | 408,000,000 | 567,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities subject to compromise | 35,016,000,000 | 13,964,000,000 | 13,833,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
predecessor company preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
successor company preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
predecessor company esop preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
predecessor company common stock at par, 0.01 par value... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
successor company common stock at par, 0.01 par value... | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
predecessor company stock held in treasury, at cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred, 10,213,519 depositary shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common, 16,121,446 shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
successor company stock held in treasury, at cost | -4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivables, less allowance for doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts | 839,000,000 | 929,000,000 | 788,000,000 | 1,216,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
owned - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
owned - - sum | 17,408,000,000 | 18,005,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less - accumulated depreciation and amortization | -6,106,000,000 | 5,132,000,000 | 5,306,000,000 | 5,583,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital leases - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital leases - - sum | 2,665,000,000 | 2,720,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less - accumulated amortization | -739,000,000 | 555,000,000 | 494,000,000 | 640,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension assets | 4,000,000 | 904,000,000 | 1,162,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders' deficit | 2,005,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other accrued liabilities | 1,928,000,000 | 1,293,000,000 | 1,190,000,000 | 1,352,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders' deficit: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
serial preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
esop preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shares; issued 132,342,405 shares at december 31, 2005 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
december 31, 2004 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock held in treasury, at cost - - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred, 10,213,519 depositary shares at december 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2005 and 2004 | -305,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common, 16,121,446 shares at december 31, 2005 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax receivables | 326,000,000 | 110,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
long-term restricted cash | 116,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock committed to supplemental esop | 2,000,000 | 571,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shares; issued 126,498,211 shares at december 31, 2003 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
98,470,381 shares at december 31, 2002 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2003 and 2002 | -305,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common, 16,083,032 shares at december 31, 2003 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16,102,418 shares at december 31, 2002 | -1,164,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes payable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued aircraft rent | 840,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred gains | 912,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
company-obligated mandatorily redeemable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred securities of a subsidiary trust | 99,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shares; issued 98,470,381 shares at december 31, 2002 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
71,266,547 shares at december 31, 2001 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2002 and 2001 | -305,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common, 16,102,418 shares at december 31, 2002 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16,282,369 shares at december 31, 2001 | -1,167,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
shares; issued 68,834,167 shares at december 31, 2000 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
65,771,802 shares at december 31, 1999 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unearned esop preferred stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock held in treasury, at cost - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2000 and 1999 | -305,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common, 16,295,475 shares at december 31, 2000 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14,995,219 shares at december 31, 1999 | -1,179,000,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-12-31 | 2007-10-08 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 6,000,000 | 653,000,000 | 289,000,000 | -82,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income tax | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 379,000,000 | 378,000,000 | 380,000,000 | 384,000,000 | 385,000,000 | 388,000,000 | 215,000,000 | 213,000,000 | 220,000,000 | 222,000,000 | 233,000,000 | 262,000,000 | 245,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
operating and non-operating special charges, non-cash portion | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized losses on investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of debt discount and debt issuance costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in prepaids and other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in advance ticket sales | -818,000,000 | 234,000,000 | 1,319,000,000 | -737,000,000 | 173,000,000 | 1,326,000,000 | 297,000,000 | 511,000,000 | -241,000,000 | 148,000,000 | 238,000,000 | -721,000,000 | -411,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
increase in frequent flyer deferred revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable | 16,000,000 | -77,000,000 | 230,000,000 | -201,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities | 1,286,000,000 | 1,218,000,000 | 2,217,000,000 | 3,710,000,000 | 2,224,000,000 | 1,498,000,000 | 2,876,000,000 | 2,847,000,000 | 3,799,000,000 | 3,142,000,000 | 1,158,000,000 | 741,000,000 | 2,691,000,000 | 1,476,000,000 | -269,000,000 | -786,000,000 | 2,675,000,000 | 447,000,000 | -2,177,000,000 | 63,000,000 | 1,181,000,000 | 1,103,000,000 | 2,710,000,000 | 1,915,000,000 | 1,101,000,000 | 905,000,000 | 2,442,000,000 | 1,733,000,000 | 728,000,000 | 577,000,000 | 1,561,000,000 | 547,000,000 | 658,000,000 | 1,138,000,000 | 2,547,000,000 | 1,199,000,000 | 1,115,000,000 | 1,300,000,000 | 1,752,000,000 | 1,825,000,000 | -98,000,000 | 574,000,000 | 1,464,000,000 | 694,000,000 | -334,000,000 | 237,000,000 | 1,148,000,000 | 393,000,000 | -238,000,000 | 959,000,000 | 124,000,000 | 385,000,000 | 753,000,000 | 1,005,000,000 | |||||||||
investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures, net of flight equipment purchase deposit returns | -1,890,000,000 | -1,464,000,000 | -1,287,000,000 | -1,233,000,000 | -1,675,000,000 | -1,410,000,000 | -1,164,000,000 | -1,366,000,000 | -1,420,000,000 | -1,843,000,000 | -2,539,000,000 | -1,328,000,000 | -550,000,000 | -402,000,000 | -536,000,000 | -266,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
purchases of short-term and other investments | -1,309,000,000 | -1,732,000,000 | -2,476,000,000 | -2,246,000,000 | -1,752,000,000 | -2,303,000,000 | -888,000,000 | -866,000,000 | -2,683,000,000 | -4,193,000,000 | -2,848,000,000 | -5,082,000,000 | -3,146,000,000 | -156,000,000 | -21,000,000 | 0 | -2,000,000 | -9,000,000 | -541,000,000 | -729,000,000 | -725,000,000 | -719,000,000 | -724,000,000 | -577,000,000 | -649,000,000 | -730,000,000 | -596,000,000 | -657,000,000 | -997,000,000 | -813,000,000 | -774,000,000 | -779,000,000 | -716,000,000 | -635,000,000 | -638,000,000 | -658,000,000 | -657,000,000 | -1,005,000,000 | -197,000,000 | ||||||||||||||||||||||||
proceeds from sale of short-term and other investments | 1,630,000,000 | 1,432,000,000 | 2,199,000,000 | 2,023,000,000 | 1,455,000,000 | 1,386,000,000 | 2,163,000,000 | 3,657,000,000 | 2,641,000,000 | 4,061,000,000 | 1,023,000,000 | 846,000,000 | 153,000,000 | 62,000,000 | 126,000,000 | 105,000,000 | 137,000,000 | 408,000,000 | 847,000,000 | 927,000,000 | 714,000,000 | 798,000,000 | 716,000,000 | 768,000,000 | 637,000,000 | 524,000,000 | 615,000,000 | 840,000,000 | 797,000,000 | 819,000,000 | 751,000,000 | 810,000,000 | 755,000,000 | 693,000,000 | 611,000,000 | 653,000,000 | 638,000,000 | 672,000,000 | 1,071,000,000 | 326,000,000 | |||||||||||||||||||||||
proceeds from sale of property and equipment | 35,000,000 | 15,000,000 | 19,000,000 | 29,000,000 | 43,000,000 | 24,000,000 | 22,000,000 | 20,000,000 | 8,000,000 | 1,000,000 | 23,000,000 | 46,000,000 | 72,000,000 | 66,000,000 | 10,000,000 | 17,000,000 | 3,000,000 | 4,000,000 | 3,000,000 | 1,000,000 | 4,000,000 | 4,000,000 | 5,000,000 | 2,000,000 | 17,000,000 | 36,000,000 | 14,000,000 | 19,000,000 | 17,000,000 | 21,000,000 | 30,000,000 | 8,000,000 | 35,000,000 | 87,000,000 | 48,000,000 | 8,000,000 | 9,000,000 | 1,000,000 | 56,000,000 | 89,000,000 | 53,000,000 | 15,000,000 | 39,000,000 | ||||||||||||||||||||
other | -32,000,000 | 6,000,000 | -35,000,000 | -35,000,000 | 214,000,000 | -208,000,000 | 1,000,000 | -4,000,000 | -5,000,000 | 6,000,000 | -46,000,000 | -10,000,000 | -24,000,000 | 12,000,000 | 1,000,000 | 10,000,000 | 0 | -4,000,000 | 13,000,000 | 1,000,000 | 89,000,000 | -27,000,000 | 5,000,000 | 12,000,000 | 61,000,000 | 87,000,000 | 5,000,000 | 2,000,000 | -22,000,000 | 19,000,000 | 115,000,000 | 8,000,000 | 53,000,000 | -16,000,000 | -25,000,000 | 1,000,000 | -45,000,000 | -14,000,000 | 18,000,000 | 19,000,000 | 3,000,000 | 26,000,000 | 1,000,000 | 7,000,000 | 36,000,000 | 67,000,000 | -12,000,000 | -33,000,000 | 45,000,000 | 44,000,000 | 23,000,000 | 6,000,000 | 170,000,000 | -64,000,000 | 317,000,000 | -118,000,000 | 10,000,000 | 15,000,000 | -95,000,000 | -272,000,000 | -254,000,000 | ||
net cash from investing activities | -1,565,000,000 | -1,743,000,000 | -1,580,000,000 | -1,462,000,000 | -1,715,000,000 | -2,511,000,000 | 134,000,000 | 1,441,000,000 | -1,459,000,000 | -1,968,000,000 | -4,387,000,000 | -5,528,000,000 | -3,484,000,000 | -430,000,000 | -348,000,000 | -214,000,000 | -781,000,000 | -329,000,000 | 40,000,000 | 770,000,000 | 812,000,000 | -1,572,000,000 | -1,329,000,000 | -795,000,000 | -856,000,000 | -1,580,000,000 | -1,960,000,000 | -886,000,000 | -987,000,000 | -730,000,000 | -976,000,000 | -1,276,000,000 | -1,035,000,000 | -643,000,000 | -956,000,000 | -663,000,000 | -822,000,000 | -797,000,000 | -774,000,000 | -546,000,000 | -1,128,000,000 | -45,000,000 | -626,000,000 | -298,000,000 | -905,000,000 | -427,000,000 | -723,000,000 | -466,000,000 | -402,000,000 | -431,000,000 | -230,000,000 | -213,000,000 | -362,000,000 | -453,000,000 | -509,000,000 | -320,000,000 | |||||||
financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of debt and other financial liabilities, net of discounts and fees | 93,000,000 | -3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of long-term debt, finance leases and other financial liabilities | -575,000,000 | -2,585,000,000 | -600,000,000 | -1,011,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchases of common stock | -27,000,000 | -21,000,000 | -240,000,000 | -349,000,000 | 0 | 0 | 0 | -353,000,000 | -214,000,000 | -369,000,000 | -549,000,000 | -513,000,000 | -225,000,000 | -41,000,000 | -440,000,000 | -529,000,000 | -553,000,000 | -579,000,000 | -454,000,000 | -258,000,000 | -172,000,000 | -260,000,000 | -790,000,000 | -1,392,000,000 | -523,000,000 | -265,000,000 | -250,000,000 | -195,000,000 | -92,000,000 | ||||||||||||||||||||||||||||||||||
net cash from financing activities | -509,000,000 | -2,136,000,000 | -843,000,000 | -1,457,000,000 | -591,000,000 | -1,073,000,000 | -580,000,000 | -1,938,000,000 | -491,000,000 | -563,000,000 | -877,000,000 | -818,000,000 | -798,000,000 | -856,000,000 | -575,000,000 | -583,000,000 | 6,276,000,000 | 1,278,000,000 | 481,000,000 | -47,000,000 | -571,000,000 | -479,000,000 | -183,000,000 | -68,000,000 | -284,000,000 | -140,000,000 | 177,000,000 | -235,000,000 | -328,000,000 | -1,037,000,000 | -1,613,000,000 | -762,000,000 | -123,000,000 | -1,180,000,000 | -430,000,000 | -391,000,000 | -583,000,000 | -144,000,000 | -478,000,000 | 342,000,000 | 21,000,000 | -141,000,000 | -1,194,000,000 | -489,000,000 | -266,000,000 | -402,000,000 | -467,000,000 | -890,000,000 | -589,000,000 | ||||||||||||||
net increase in cash, cash equivalents and restricted cash | -790,000,000 | -2,660,000,000 | -206,000,000 | 791,000,000 | -82,000,000 | -2,086,000,000 | 2,430,000,000 | 2,350,000,000 | 1,849,000,000 | 611,000,000 | -4,106,000,000 | -5,605,000,000 | -1,591,000,000 | 190,000,000 | -1,192,000,000 | -1,583,000,000 | 8,170,000,000 | 1,396,000,000 | -1,656,000,000 | 6,786,000,000 | 3,064,000,000 | 680,000,000 | -195,000,000 | -263,000,000 | 1,375,000,000 | 152,000,000 | -927,000,000 | -265,000,000 | 481,000,000 | 919,000,000 | |||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investing and financing activities not affecting cash: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
right-of-use assets acquired or modified through operating leases | 519,000,000 | 409,000,000 | 554,000,000 | 419,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through the issuance or modification of debt, finance leases and other financial liabilities | 27,000,000 | 0 | -51,000,000 | -1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating leases converted to finance leases | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment interests received in exchange for loans, goods and services | 29,000,000 | 2,000,000 | 0 | 0 | 18,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid during the period for: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of the period | 0 | 0 | 8,946,000,000 | 0 | -1,000,000 | 6,335,000,000 | 0 | 7,421,000,000 | 0 | 0 | 18,533,000,000 | 0 | 0 | 11,742,000,000 | 0 | 0 | 2,868,000,000 | 0 | 0 | 1,799,000,000 | 0 | 0 | 1,591,000,000 | 0 | 0 | 2,303,000,000 | |||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of the period | -2,660,000,000 | -206,000,000 | 9,737,000,000 | -2,086,000,000 | 2,429,000,000 | 8,685,000,000 | 1,849,000,000 | 8,032,000,000 | -5,605,000,000 | -1,591,000,000 | 18,723,000,000 | -1,583,000,000 | 8,170,000,000 | 13,138,000,000 | 6,786,000,000 | 3,064,000,000 | 3,548,000,000 | -263,000,000 | 1,375,000,000 | 1,951,000,000 | -265,000,000 | 481,000,000 | 2,510,000,000 | -522,000,000 | 208,000,000 | 2,293,000,000 | |||||||||||||||||||||||||||||||||||||
property and equipment acquired through the issuance of debt, finance leases and other | 565,000,000 | 47,000,000 | 359,000,000 | 200,000,000 | 13,000,000 | 40,000,000 | 252,000,000 | 509,000,000 | 455,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
right-of-use assets acquired through operating leases | 201,000,000 | 233,000,000 | 11,000,000 | 132,000,000 | 139,000,000 | 295,000,000 | 39,000,000 | 14,000,000 | 16,000,000 | 68,000,000 | 144,000,000 | 413,000,000 | 34,000,000 | 180,000,000 | 134,000,000 | 16,000,000 | 18,000,000 | 30,000,000 | 154,000,000 | 245,000,000 | 48,000,000 | 51,000,000 | |||||||||||||||||||||||||||||||||||||||||
lease modifications and lease conversions | 173,000,000 | 44,000,000 | 59,000,000 | 14,000,000 | 326,000,000 | 23,000,000 | -145,000,000 | -21,000,000 | 23,000,000 | 59,000,000 | 12,000,000 | 52,000,000 | 37,000,000 | 22,000,000 | 24,000,000 | 33,000,000 | 31,000,000 | 439,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
investment interests received in exchange for goods and services | 4,000,000 | 21,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of debt and other financing liabilities, net of discounts and fees | 1,584,000,000 | 607,000,000 | 3,111,000,000 | 1,303,000,000 | 288,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of long-term debt, finance leases and other financing liabilities | -2,575,000,000 | -1,186,000,000 | -5,031,000,000 | -1,794,000,000 | -820,000,000 | -1,406,000,000 | -810,000,000 | -1,012,000,000 | -783,000,000 | -573,000,000 | -560,000,000 | -3,503,000,000 | -569,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
repurchase of common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in receivables | -32,000,000 | 25,000,000 | -427,000,000 | -130,000,000 | -8,000,000 | -379,000,000 | 8,000,000 | -4,000,000 | -48,000,000 | 47,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from equity issuance | 0 | 0 | 0 | 532,000,000 | 968,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of debt, net of discounts and fees | 526,000,000 | -2,000,000 | -2,000,000 | -18,000,000 | 9,780,000,000 | 1,336,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid (refunded) during the period for: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity investment interest received in exchange for aircraft | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes receivable and warrants received for entering into agreements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity interest received in consideration for the sale of aircraft | 42,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
warrants received for entering into ancillary business agreements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other liabilities | 384,000,000 | -470,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loans made to others | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity interest in avianca group international limited ("avg") received in consideration for a loan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
notes receivable and warrants received for entering into aircraft and other ancillary business agreements | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of short-term investments | -311,000,000 | -334,000,000 | -109,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of short-term investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -444,000,000 | 0 | -1,959,000,000 | -1,192,000,000 | -869,000,000 | -858,000,000 | -1,609,000,000 | -1,585,000,000 | -858,000,000 | -755,000,000 | -979,000,000 | -1,098,000,000 | -1,120,000,000 | -1,089,000,000 | -691,000,000 | -880,000,000 | -689,000,000 | -838,000,000 | -816,000,000 | -763,000,000 | -673,000,000 | -1,101,000,000 | -210,000,000 | -660,000,000 | -392,000,000 | -589,000,000 | -364,000,000 | 0 | 0 | 0 | 0 | -222,000,000 | -286,000,000 | -266,000,000 | -160,000,000 | -145,000,000 | -205,000,000 | |||||||||
free cash flows | 1,286,000,000 | 1,218,000,000 | 2,217,000,000 | 3,710,000,000 | 2,224,000,000 | 1,498,000,000 | 2,876,000,000 | 2,847,000,000 | 3,799,000,000 | 3,142,000,000 | 1,158,000,000 | 741,000,000 | 2,691,000,000 | 1,476,000,000 | -269,000,000 | -786,000,000 | 2,675,000,000 | 3,000,000 | -2,177,000,000 | -1,896,000,000 | -11,000,000 | 234,000,000 | 1,852,000,000 | 306,000,000 | -484,000,000 | 47,000,000 | 1,687,000,000 | 754,000,000 | -370,000,000 | -543,000,000 | 472,000,000 | -144,000,000 | -222,000,000 | 449,000,000 | 1,709,000,000 | 383,000,000 | 352,000,000 | 627,000,000 | 651,000,000 | 1,615,000,000 | -758,000,000 | 182,000,000 | 875,000,000 | 330,000,000 | -334,000,000 | 237,000,000 | 1,148,000,000 | 393,000,000 | -460,000,000 | 673,000,000 | -142,000,000 | 225,000,000 | 608,000,000 | 800,000,000 | |||||||||
warrants received for entering into agreements with archer aviation inc | 81,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in affiliates | 0 | -9,000,000 | 0 | -27,000,000 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of debt | 3,020,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments of long-term debt | -3,419,000,000 | -441,000,000 | -288,000,000 | -235,000,000 | -514,000,000 | -253,000,000 | -223,000,000 | -250,000,000 | -208,000,000 | -225,000,000 | -1,105,000,000 | -189,000,000 | -179,000,000 | -197,000,000 | -210,000,000 | -315,000,000 | -304,000,000 | -458,000,000 | -226,000,000 | -227,000,000 | -650,000,000 | -209,000,000 | -1,023,000,000 | -296,000,000 | -502,000,000 | -1,089,000,000 | -299,000,000 | -613,000,000 | -220,000,000 | -228,000,000 | -496,000,000 | -1,241,000,000 | -462,000,000 | -217,000,000 | -479,000,000 | -448,000,000 | -949,000,000 | -528,000,000 | |||||||||||||||||||||||||
principal payments under finance leases | -13,000,000 | -12,000,000 | -23,000,000 | -18,000,000 | -46,000,000 | -42,000,000 | -43,000,000 | -20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
capitalized financing costs | -74,000,000 | -246,000,000 | -13,000,000 | -35,000,000 | -10,000,000 | -21,000,000 | -13,000,000 | -17,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
capacity purchase agreement liability converted to debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
debt associated with termination of a maintenance service agreement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures, net of returns of purchase deposits on flight equipment | 368,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash provided (used) by operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of short-term debt | 250,000,000 | 2,500,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of long-term debt | 1,321,000,000 | 348,000,000 | 738,000,000 | 113,000,000 | 350,000,000 | 646,000,000 | 384,000,000 | 755,000,000 | 298,000,000 | 435,000,000 | 33,000,000 | 42,000,000 | 460,000,000 | 385,000,000 | 128,000,000 | 100,000,000 | 255,000,000 | 782,000,000 | 248,000,000 | 147,000,000 | 604,000,000 | 299,000,000 | 411,000,000 | 109,000,000 | 0 | 0 | 86,000,000 | 0 | 110,000,000 | 32,000,000 | 686,000,000 | 1,309,000,000 | 187,000,000 | 0 | 134,000,000 | ||||||||||||||||||||||||||||
net cash provided (used) in financing activities | 2,382,000,000 | 2,189,000,000 | -84,000,000 | 86,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through the issuance of debt | 218,000,000 | 109,000,000 | 187,000,000 | 86,000,000 | 128,000,000 | 92,000,000 | 711,000,000 | 271,000,000 | 56,000,000 | 0 | 59,000,000 | 69,000,000 | 283,000,000 | 375,000,000 | 146,000,000 | 185,000,000 | 205,000,000 | 136,000,000 | 33,000,000 | 33,000,000 | 64,000,000 | ||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through other financial liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through finance leases | 0 | 19,000,000 | 0 | 0 | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income taxes | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special charges, non-cash portion | 12,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in advanced purchase of miles | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
property and equipment acquired through finance lease | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in republic airways holdings inc. received from bankruptcy claims | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loans made to affiliates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating lease conversions to finance lease | 0 | 0 | 36,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of long-term debt and airport construction financing | 408,000,000 | 24,000,000 | 612,000,000 | 696,000,000 | 646,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments under capital leases | -36,000,000 | -36,000,000 | -32,000,000 | -30,000,000 | -40,000,000 | -25,000,000 | -28,000,000 | -31,000,000 | -41,000,000 | -29,000,000 | -32,000,000 | -34,000,000 | -43,000,000 | -27,000,000 | -29,000,000 | -24,000,000 | -46,000,000 | -23,000,000 | -34,000,000 | -24,000,000 | -36,000,000 | -25,000,000 | -44,000,000 | -29,000,000 | -25,000,000 | -41,000,000 | -23,000,000 | -23,000,000 | -51,000,000 | -125,000,000 | -66,000,000 | -27,000,000 | -26,000,000 | -55,000,000 | -48,000,000 | -26,000,000 | -12,000,000 | ||||||||||||||||||||||||||
property and equipment acquired through the issuance of debt and capital leases | 35,000,000 | 0 | 65,000,000 | 74,000,000 | 17,000,000 | 11,000,000 | 177,000,000 | 599,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in republic airways holdings, inc. received from bankruptcy claims | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
airport construction financing | 0 | 0 | 0 | 12,000,000 | 1,000,000 | 9,000,000 | 11,000,000 | 21,000,000 | 23,000,000 | 33,000,000 | 26,000,000 | 9,000,000 | 12,000,000 | 3,000,000 | 9,000,000 | 2,000,000 | 24,000,000 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
operating lease conversions to capital lease | 0 | 0 | 5,000,000 | 0 | 7,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) the following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 2,404,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash included in prepaid expenses and other | 11,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 95,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total cash, cash equivalents and restricted cash | 2,510,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in fuel hedge collateral | -3,000,000 | 7,000,000 | 385,000,000 | 395,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in fuel derivatives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from the exercise of stock options | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity interest in republic airways holdings, inc. received in consideration for bankruptcy claims | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
exchange of convertible notes for common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in and loans to affiliates | -40,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | -10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in fuel derivatives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in frequent flyer deferred revenue and advanced purchase of miles | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in restricted cash | 43,000,000 | 13,000,000 | 26,000,000 | -4,000,000 | 35,000,000 | 38,000,000 | 6,000,000 | 17,000,000 | 23,000,000 | 0 | 12,000,000 | 16,000,000 | -11,000,000 | -9,000,000 | 33,000,000 | 10,000,000 | 3,000,000 | 17,000,000 | -24,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 147,000,000 | 688,000,000 | -1,211,000,000 | -421,000,000 | 631,000,000 | -556,000,000 | 1,350,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of the period | 0 | 0 | 3,006,000,000 | 0 | 0 | 2,002,000,000 | 0 | 0 | 3,220,000,000 | 0 | 0 | 4,770,000,000 | 0 | 0 | 6,246,000,000 | 0 | 0 | 8,069,000,000 | 0 | 0 | 2,039,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of the period | 147,000,000 | 688,000,000 | 1,795,000,000 | 631,000,000 | -556,000,000 | 3,352,000,000 | -307,000,000 | 415,000,000 | 3,009,000,000 | -208,000,000 | 605,000,000 | 3,538,000,000 | -957,000,000 | 480,000,000 | 5,606,000,000 | -535,000,000 | -646,000,000 | 8,165,000,000 | 1,384,000,000 | 3,516,000,000 | -41,000,000 | 109,000,000 | 2,457,000,000 | -404,000,000 | |||||||||||||||||||||||||||||||||||||||
exchanges of certain convertible notes for common stock | 0 | 0 | 201,000,000 | 0 | 0 | 202,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on fuel derivatives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in accounts payable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided (used) by operating activities - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in fuel hedge collateral | -1,000,000 | -587,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on fuel derivatives and change in related pending settlements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemptions of short-term and other investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -1,115,000,000 | -211,000,000 | -715,000,000 | -208,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in short-term and other investments | 3,000,000 | -363,000,000 | -111,000,000 | -98,000,000 | 19,000,000 | 36,000,000 | -77,000,000 | 74,000,000 | 52,000,000 | -148,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
debt discount and lease fair value amortization | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of capitalized financing costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension and postretirement amortization | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
share-based compensation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from exercise of stock options | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of treasury stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital expenditures and aircraft purchase deposits paid | -578,000,000 | -446,000,000 | -375,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
exchanges of certain 6% convertible senior notes for common stock | 51,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net property and equipment acquired through the issuance of debt | 14,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special facility and airport construction financing | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8% contingent senior unsecured notes, net of discount | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents during the period | -1,232,000,000 | -957,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided (used) by operating activities — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
debt and lease discount amortization | -45,000,000 | -81,000,000 | -70,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special items, non-cash portion | 9,000,000 | 33,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in frequent flyer deferred revenue and advanced purchase of miles | -136,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other current assets | -108,000,000 | -56,000,000 | -288,000,000 | 42,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
aircraft purchase deposits paid | -186,000,000 | -32,000,000 | -35,000,000 | -51,000,000 | -32,000,000 | -38,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special facility payment financing | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reclassification of debt to advanced purchases of miles | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reclassification of debt discount to other assets | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest paid in kind on ual 6% senior notes | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in restricted cash | -3,000,000 | -2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
houston bush intercontinental airport terminal b construction obligation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss | -448,000,000 | -213,000,000 | -57,000,000 | 28,000,000 | -382,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash provided (used) by operating activities — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents during the period | -640,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of debt and lease fair value adjustment | -52,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other accrued liabilities | 248,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net change in fuel hedge cash collateral | -32,000,000 | -207,000,000 | 178,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and cash equivalents during the period | -535,000,000 | -646,000,000 | 96,000,000 | 1,390,000,000 | 474,000,000 | -41,000,000 | 109,000,000 | 418,000,000 | -892,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
ual 8% contingent senior unsecured notes, net of discount | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued wages and liabilities | -235,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile to net cash provided (used) by operating activities— | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain/loss on fuel derivatives and change in related pending settlements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
asset impairments and special items | 72,000,000 | 18,000,000 | 119,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in mileage plus deferred revenue and advanced purchase of miles | -43,000,000 | -17,000,000 | 11,000,000 | 37,000,000 | 92,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from lease amendment | 0 | 0 | 160,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to property, equipment and deferred software | -73,000,000 | -51,000,000 | -60,000,000 | -91,000,000 | -79,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
advance deposits on aircraft | 0 | -42,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from asset dispositions | 21,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from asset sale-leasebacks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of debt | -69,000,000 | -1,204,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in deferred financing costs | -19,000,000 | -7,000,000 | -5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
capital contribution from parent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in lease deposits | 0 | 0 | 22,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of the year | -6,000,000 | 3,042,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile to net cash provided (used) by operating activities — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net change in fuel derivative instruments and related pending settlements | -50,000,000 | -61,000,000 | -523,000,000 | -286,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock | 27,000,000 | 0 | 63,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
goodwill impairment | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other impairments and special items | 43,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(increase) decrease in fuel hedge collateral | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net sales of short-term investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(increase) decrease in restricted cash | 83,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from litigation on advance deposits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of credit facility | -9,000,000 | 0 | -9,000,000 | 0 | -9,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of other debt | -229,000,000 | -157,000,000 | -229,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special distribution to common shareholders | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from asset sale-leaseback | 0 | 94,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from disposition of property and equipment | 13,000,000 | 33,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income before reorganization items | 334,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mileage plus deferred revenue and advanced purchase of miles | 17,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension expense, net of contributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
postretirement benefit expense, net of contributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in assets and liabilities— | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in fuel derivative payables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other current assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by reorganization activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reorganization items | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
discharge of claims and liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revaluation of mileage plus frequent flyer deferred revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revaluation of other assets and liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in non-aircraft claims accrual | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension curtailment, settlement and employee claims | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (purchases) sales of short-term investments | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to property and equipment | -80,000,000 | -282,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to deferred software costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds on disposition of property and equipment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds on litigation of advanced deposits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds on sale of investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of eetc securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in segregated funds | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from credit facility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of other long-term debt | -126,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in aircraft lease deposits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payment of deferred financing costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of common stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of dip financing | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other impairments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in advanced purchase of miles | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in mileage plus deferred revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from asset sale leaseback | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from the sale of property and equipment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of secured notes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in capital lease deposits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in deferred income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by operating activities: - sum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by investing activities: - sum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from secured notes | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by financing activities: - sum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase (decrease) in cash and cash equivalents during the period | -404,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(increase) decrease in short-term investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mileage plus deferred revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special items and debt discount amortization | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension expense (benefit), net of contributions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of deferred gains | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in other current assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase (decrease) in accounts payable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase (decrease) in accrued liabilities and accrued aircraft rent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in aircraft rejection liability | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment on lease certificates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase (decrease) in other liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on disposition of property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sale of mypoints.com inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from dip financing | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
aircraft lease deposits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss before reorganization items | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adj to reconcile to net cash provided (used) by operating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
activities - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
frequent flyer deferred revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension funding less than expense | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
postretirement benefit expense | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
undistributed (earnings) of affiliates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued aircraft rent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension curtailment, settlement and termination | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows provided (used) by reorganization activities: - sum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in short-term investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of long-term debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and cash equivalents during the year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from (utilized by) operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adj to reconcile to net cash from operating activities - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cumulative effect of accounting change, net of tax | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
pension funding less than (greater than) expense | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred postretirement benefit expense | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
provision (credit) for deferred income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
undistributed losses of affiliates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable and accrued liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from (utilized by) reorganization activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
transfer of company lease certificates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from (utilized by) investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of mypoints.com, net of cash acquired | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from (utilized by) investing activities: - sum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in equipment certificates under company leases | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in short-term borrowings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash dividends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities: - sum | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile to net cash from | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating activities - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
esop compensation expense | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
extraordinary loss on debt extinguishment, net of tax | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment impairment | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
provision for deferred income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
undistributed (earnings) losses of affiliates | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
and accrued liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reacquisition of preferred stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchase of equipment certificates under company leases |