United Airlines 2008 Annual Report Download - page 90

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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, 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
Valuationadjustments,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
comprehensiveloss............................ — — — 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
fromChapter11.............................. — — 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)
Totalcomprehensiveincome,net ................... — — — 32 (5) 27
Adoption of SFAS 158, net $47 of tax . ............... — — — — 87 87
Preferred stock dividends (Note 5) . . . ............... — — — (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
Netincome .................................. — — — 402 — 402
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 ................... — — — 402 99 501
Preferred stock dividends (Note 5) .................... — — — (10) — (10)
Adoption of FIN 48 ............................. — — 2 — — 2
Tax adjustment on SFAS 158 adoption (Note 11) ........... — — — — (40) (40)
MPInoteforgiveness(Note18)...................... — — (213) — — (213)
Share-based compensation ......................... — — 49 — — 49
Proceeds from exercise of stock options . . ............... — — 35 — — 35
Balance at December 31, 2007 ........................ — — 2,000 415 141 2,556
Netloss..................................... — — — (5,306) — (5,306)
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...................... — — — (5,306) (48) (5,354)
Dividend to parent .............................. — — — (257) — (257)
Preferred stock dividends (Note 5) .................... — — — (3) — (3)
Conversion of preferred stock . . . .................... — — 374 — — 374
Capital contributions from parent (Note 18) . . . ........... — — 173 — — 173
Share-based compensation ......................... — — 31 — — 31
Balance at December 31, 2008 ........................ $ — $— $2,578 $(5,151) $ 93 $ (2,480)
See accompanying Combined Notes to Consolidated Financial Statements.
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