United Airlines 2011 Annual Report Download - page 152
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Table of Contents
United
During 2009, UAL contributed cash of $559 million to United consisting of the net proceeds that UAL generated from UAL equity and debt issuances in
2009.
See Note 14 for additional information regarding Continental’s debt that is convertible into shares of UAL common stock.
Special Revenue Item. As discussed in Note 2, during the second quarter of 2011, the Company modified the previously existing United and Continental co-
branded credit card agreements with Chase as a result of the Merger. This modification resulted in the following one-time adjustment to decrease frequent flyer
deferred revenue and increase special revenue in accordance with ASU 2009-13 for the year ended December 31, 2011 as follows (in millions):
Special revenue item $107 $ 88 $19
For the years ended December 31, integration and Merger-related costs and special items consisted of the following (in millions):
Integration-related costs $517 $360 $157
Termination of maintenance service contract 58 58 —
Aircraft-related gains, net (6) — (6)
Intangible asset impairment 4 — 4
Other 19 15 4
Total $592 $433 $159
Merger costs:
Merger-related costs $144 $114 $30 $10
Salary and severance-related 249 111 138 —
Integration-related costs 171 138 33 19
564 363 201 29
Aircraft impairments 136 136 — 6
Goodwill impairment credit (64) (64) — —
Intangible asset impairment 29 29 — —
Other 4 4 — 12
Total $669 $468 $201 $47
Intangible asset impairments $ 150 $150 $ 12
Aircraft impairments 93 93 89
Pension settlement charges (Note 9) — — 29
Municipal bond litigation 27 27 —
Lease termination and other 104 104 15
Total $374 $374 $ 145
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