United Airlines 2008 Annual Report Download - page 85

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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, 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
Valuationadjustments,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
comprehensiveloss ............................. — — 6,271 — 36 6,307
Issuance of new equity interests in connection with emergence
fromChapter11............................... 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)
Totalcomprehensiveincome,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
Netincome.................................... — — 403 — — 403
Other comprehensive income, net:
Unrealized gains on financial instruments, net . . .......... — — — — 5 5
Pension and other postretirement plans (Note 9)
Netgainarisingduringperiod,net$63oftax........... — — — — 102 102
Less: amortization of prior period gains, net . . .......... — — — — (8) (8)
Total pension and other postretirement plans . .......... — — — — 94 94
Totalcomprehensiveincome,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
Proceeds from exercise of stock options . . . ............... — 35 — — — 35
Adoption of FIN 48 . ............................. — 2 — — — 2
Treasury stock acquisitions . ......................... — — — (11) — (11)
Balance at December 31, 2007 ......................... 1 2,139 152 (15) 141 2,418
Netloss...................................... — — (5,348) — — (5,348)
Other comprehensive income (loss):
Unrealized losses on financial instruments ............... — — — — (37) (37)
Pension and other postretirement plans (Note 9)
Netgainarisingduringperiod..................... — — — — 8 8
Less: amortization of prior period gains ............... — — — — (19) (19)
Total pension and other postretirement plans . .......... — — — — (11) (11)
Totalcomprehensiveloss,net ........................ — — (5,348) — (48) (5,396)
Preferred stock dividends . . ......................... — — (3) — — (3)
Conversion of preferred stock ........................ — 374 — — — 374
Saleofcommonstock............................. — 122 — — — 122
Share-based compensation . ......................... — 31 — — — 31
Treasury stock acquisitions . ......................... — — — (11) — (11)
Balance at December 31, 2008 ......................... $1 $2,666 $(5,199) $ (26) $ 93 $ (2,465)
See accompanying Combined Notes to Consolidated Financial Statements.
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