United Airlines 2007 Annual Report Download - page 76
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UAL Corporation and Subsidiary Companies
Statements of Consolidated Stockholders' Equity (Deficit)
(In millions)
Common
Stock
Additional
Capital
Invested
Retained
Earnings
(Deficit)
Treasury
Stock
Accumulated
Other
Comprehensive
Income (Loss)
Total
Predecessor Company
Balance at December 31, 2004 $ 1 $ 5,064 $ (7,946) $ (1,467) $ (3,332) $ (7,680)
Net loss — — (21,176) — — (21,176)
Other comprehensive income (loss), net:
Unrealized losses on derivatives, net — — — — (3) (3)
Minimum pension liability adjustment — — — — 3,299 3,299
Total comprehensive income (loss), net — — (21,176) — 3,296 (17,880)
Balance at December 31, 2005 1 5,064 (29,122) (1,467) (36) (25,560)
Net loss before reorganization
items—January 2006 — — (83) — — (83)
Reorganization items—January 2006 — — (1,401) — — (1,401)
Subtotal 1 5,064 (30,606) (1,467) (36) (27,044)
Fresh-start adjustments:
Unsecured claims and debt discharge — — 24,628 — — 24,628
Valuation adjustments, net — — (293) — — (293)
Balance at January 31, 2006 1 5,064 (6,271) (1,467) (36) (2,709)
Fresh-start adjustments:
Cancellation of preferred and common stock (1) (5,064) — 1,467 — (3,598)
Elimination of accumulated deficit and
accumulated other comprehensive loss — — 6,271 — 36 6,307
Issuance of new equity interests in connection with
emergence from Chapter 11 1 1,884 — — — 1,885
Successor Company
Balance at February 1, 2006 1 1,884 — — — 1,885
Net income from February 1, 2006 to
December 31, 2006 — — 25 — — 25
Other comprehensive income (loss), net:
Unrealized loss on derivatives, net — — — — (5) (5)
Total comprehensive income, net — — 25 — (5) 20
Adoption of SFAS 158, net $47 of tax — — — — 87 87
Preferred stock dividends — — (9) — — (9)
Share-based compensation — 159 — — — 159
Proceeds from exercise of stock options — 10 — — — 10
Treasury stock acquisitions — — — (4) — (4)
Balance at December 31, 2006 1 2,053 16 (4) 82 2,148
Net income — — 403 — — 403
Other comprehensive income, net:
Unrealized gains on financial instruments, net — — — — 5 5
Pension and other postretirement plans
(Note 9)
Net gain arising during period, net $63 of
tax — — — — 102 102
Less: amortization of prior period gains, net — — — — (8) (8)
Total pension and other postretirement
plans — — — — 94 94
Total comprehensive income, net — — 403 — 99 502
Common stock distribution declared — — (257) — — (257)
Preferred stock dividends — — (10) — — (10)
Tax adjustment on SFAS 158 adoption (Note 11) — — — — (40) (40)
Share-based compensation — 49 — — — 49
Source: UNITED AIR LINES INC, 10-K, February 29, 2008