United Airlines 2008 Annual Report Download - page 86
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United Air Lines, Inc. and Subsidiary Companies
Statements of Consolidated Operations
(In millions)
2008 2007
Period from
February 1 to
December 31,
2006
Period from
January 1 to
January 31,
2006
Year Ended
December 31,
Successor Predecessor
Operating revenues:
Passenger—United Airlines . . . .................. $15,337 $15,254 $13,293 $ 1,074
Passenger—Regional affiliates . .................. 3,098 3,063 2,697 204
Cargo ...................................... 854 770 694 56
Special operating items (Note 19) ................ — 45 — —
Other operating revenues ...................... 948 999 1,196 120
20,237 20,131 17,880 1,454
Operating expenses:
Aircraft fuel ................................. 7,722 5,003 4,462 362
Salaries and related costs ....................... 4,312 4,257 3,907 358
Regional affiliates ............................ 3,248 2,941 2,596 228
Purchased services ............................ 1,375 1,346 1,146 97
Aircraft maintenance materials and outside repairs. . . 1,096 1,166 929 80
Depreciation and amortization .................. 932 925 820 68
Landing fees and other rent . . .................. 862 876 800 75
Distribution expenses .......................... 710 779 738 60
Aircraft rent ................................. 411 409 386 30
Cost of third party sales ........................ 269 312 604 63
Goodwill impairment (Note 3) .................. 2,277 — — —
Other impairments and special items (Notes 3 and
19) ...................................... 339 (44) (36) —
Other operating expenses ...................... 1,077 1,129 1,017 85
24,630 19,099 17,369 1,506
Earnings (loss) from operations . .................. (4,393) 1,032 511 (52)
Other income (expense):
Interest expense .............................. (523) (660) (729) (42)
Interest income .............................. 112 260 250 6
Interest capitalized............................ 20 19 15 —
Gain on sale of investment (Note 20) ............. — 41 — —
Miscellaneous, net (Note 13) . . .................. (550) 1 11 —
(941) (339) (453) (36)
Earnings (loss) before reorganization items, income
taxes and equity in earnings of affiliates ........... (5,334) 693 58 (88)
Reorganization items, net (Note 4) ............... — — — 22,709
Earnings (loss) before income taxes and equity in
earnings of affiliates ........................... (5,334) 693 58 22,621
Income tax expense (benefit)...................... (22) 296 29 —
Earnings (loss) before equity in earnings of affiliates . . . (5,312) 397 29 22,621
Equity in earnings of affiliates, net of tax ............ 6 5 3 5
Net income (loss) .............................. $(5,306) $ 402 $ 32 $22,626
See accompanying Combined Notes to Consolidated Financial Statements.
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