United Airlines 2007 Annual Report Download - page 70
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UAL Corporation and Subsidiary Companies
Statements of Consolidated Operations
(In millions, except per share amounts)
Successor
Predecessor
Period from
February 1 to
December 31,
2006
Period from
January 1 to
January 31,
2006
Year Ended
December 31,
2007
Year Ended
December 31,
2005
Operating revenues:
Passenger—United Airlines $ 15,254 $ 13,293 $ 1,074 $ 12,914
Passenger—Regional Affiliates 3,063 2,697 204 2,429
Cargo 770 694 56 729
Special operating items (Note 20) 45 — — —
Other operating revenues 1,011 1,198 124 1,307
20,143 17,882 1,458 17,379
Operating expenses:
Aircraft fuel 5,003 4,462 362 4,032
Salaries and related costs 4,261 3,909 358 4,027
Regional affiliates 2,941 2,596 228 2,746
Purchased services 1,346 1,148 98 1,054
Aircraft maintenance materials and
outside repairs 1,166 929
80 881
Depreciation and amortization 925 820 68 856
Landing fees and other rent 876 801 75 915
Distribution expenses (Note 2) 779 738 60 775
Aircraft rent 406 385 30 402
Cost of third party sales 316 614 65 685
Special operating items (Note 20) (44) (36) — 18
Other operating expenses 1,131 1,017 86 1,207
19,106 17,383 1,510 17,598
Earnings (loss) from operations 1,037 499 (52) (219)
Other income (expense):
Interest expense (661) (728) (42) (482)
Interest income 257 243 6 38
Interest capitalized 19 15 — (3)
Gain on sale of investment (Note 7) 41 — — —
Miscellaneous, net 2 14 — 87
(342) (456) (36) (360)
Earnings (loss) before reorganization items,
income taxes and equity in earnings of
affiliates 695 43
(88) (579)
Reorganization items, net (Note 1) — — 22,934 (20,601)
Earnings (loss) before income taxes and
equity in earnings of affiliates 695 43
22,846 (21,180)
Income tax expense 297 21 — —
Earnings (loss) before equity in earnings of
affiliates 398 22
22,846 (21,180)
Equity in earnings of affiliates, net of tax 5 3 5 4
Net income (loss) $ 403 $ 25 $ 22,851 $ (21,176)
Earnings (loss) per share, basic $ 3.34 $ 0.14 $ 196.61 $ (182.29)
Earnings (loss) per share, diluted $ 2.79 $ 0.14 $ 196.61 $ (182.29)
Source: UNITED AIR LINES INC, 10-K, February 29, 2008