United Airlines 2008 Annual Report Download - page 88
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United Air Lines, Inc. and Subsidiary Companies
Statements of Consolidated Financial Position
(In millions, except shares)
2008 2007
December 31,
Liabilities and Stockholder’s Equity (Deficit)
Current liabilities:
Advance ticket sales ................................................. $ 1,530 $ 1,918
Mileage Plus deferred revenue......................................... 1,414 1,268
Accounts payable ................................................... 833 882
Long-term debt maturing within one year (Note 12) ........................ 780 678
Accrued salaries, wages and benefits .................................... 756 896
Fuel derivative payable (Note 13) ...................................... 858 —
Fuel purchase commitments........................................... 219 493
Current obligations under capital leases (Note 15) ......................... 168 250
Accrued interest .................................................... 112 141
Advanced purchase of miles (Note 17) .................................. — 694
Other............................................................ 876 723
7,546 7,943
Long-term debt (Note 12) .............................................. 6,007 6,412
Long-term obligations under capital leases (Note 15) ......................... 1,192 1,106
Other liabilities and deferred credits:
Mileage Plus deferred revenue......................................... 2,768 2,569
Postretirement benefit liability (Note 9) ................................. 1,812 1,829
Advanced purchase of miles (Note 17) .................................. 1,087 —
Deferred income taxes ............................................... 719 555
Other............................................................ 981 895
7,367 5,848
Commitments and contingent liabilities (Note 14)
Parent company mandatorily convertible preferred securities (Note 5)............ — 371
Stockholder’s equity (deficit):
Common stock at par, $5 par value; authorized 1,000 shares; issued 205 shares at
December 31, 2008 and 2007 ........................................ — —
Additional capital invested............................................ 2,578 2,000
Retained earnings (deficit)............................................ (5,151) 415
Accumulated other comprehensive income ............................... 93 141
(2,480) 2,556
$19,632 $24,236
See accompanying Combined Notes to Consolidated Financial Statements.
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