United Airlines 2007 Annual Report Download - page 84
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Please find page 84 of the 2007 United Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.United Air Lines, Inc. and Subsidiary Companies
Statements of Consolidated Stockholder's Equity (Deficit)
(In millions)
Receivable
from
Affiliates
Common
Stock
Additional
Capital
Invested
Retained
Earnings
(Deficit)
Accumulated
Other
Comprehensive
Income (Loss)
Total
Predecessor Company
Balance at December 31, 2004 $ (1,237) $ — $ 4,213 $ (7,773) $ (3,331) $ (8,128)
Net loss — — — (21,036) — (21,036)
Other comprehensive income (loss), net:
Other — — — — (1) (1)
Unrealized losses on derivatives, net — — — — (3) (3)
Minimum pension liability adjustment — — — — 3,299 3,299
Total comprehensive income (loss), net — — — (21,036) 3,295 (17,741)
Balance at December 31, 2005 (1,237) — 4,213 (28,809) (36) (25,869)
Net loss before reorganization
items—January 2006 — — — (83) — (83)
Reorganization items—January 2006 — — — (1,392) — (1,392)
Subtotal (1,237) — 4,213 (30,284) (36) (27,344)
Fresh start adjustments:
Unsecured claims and debt discharge — — — 24,389 — 24,389
Valuation adjustments, net — — — (288) — (288)
Balance at January 31, 2006 (1,237) — 4,213 (6,183) (36) (3,243)
Fresh start adjustments:
Elimination of accumulated deficit and
accumulated other comprehensive loss — — — 6,183 36 6,219
Cancellation of receivable from affiliates and
additional capital invested 1,237 — (4,213) — — (2,976)
Issuance of new equity interests in connection
with emergence from Chapter 11 — — 1,952 — — 1,952
Successor Company
Balance at February 1, 2006 — — 1,952 — — 1,952
Net income from February 1 to December 31,
2006 — — — 32 — 32
Other comprehensive income (loss), net:
Unrealized loss on derivatives, net — — — — (5) (5)
Total comprehensive income, net — — — 32 (5) 27
Adoption of SFAS 158, net $47 of tax — — — — 87 87
Preferred stock dividends (Note 13) — — — (9) — (9)
Asset contribution from parent — — 6 — — 6
Share-based compensation — — 159 — — 159
Proceeds from exercise of stock options — — 10 — — 10
Balance at December 31, 2006 — — 2,127 23 82 2,232
Net income — — — 402 — 402
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 — — — 402 99 501
Preferred stock dividends (Note 13) — — — (10) — (10)
Adoption of FIN 48 — — 2 — — 2
Tax adjustment on SFAS 158 adoption (Note 11) — — — — (40) (40)
Source: UNITED AIR LINES INC, 10-K, February 29, 2008