United Airlines 2011 Annual Report Download - page 69

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To the Board of Directors and Stockholders of
United Continental Holdings, Inc.
Chicago, Illinois
We have audited the accompanying statements of consolidated operations, consolidated comprehensive income (loss), consolidated stockholders’ equity
(deficit), and consolidated cash flows of United Continental Holdings, Inc. and subsidiaries (the “Company”) for the year ended December 31, 2009. Our
audit also included the financial statement schedule for 2009 listed in the Index at Item 15. These consolidated financial statements and financial statement
schedule are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements and financial statement
schedule based on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the results of the operations and the cash flows of United
Continental Holdings, Inc. and subsidiaries for the year ended December 31, 2009, in conformity with accounting principles generally accepted in the United
States of America. Also, in our opinion, such financial statement schedule for 2009, when considered in relation to the basic consolidated financial statements
taken as a whole, presents fairly, in all material respects, the information set forth therein.
As discussed in Note 2 (Reclassifications) to the consolidated financial statements, the accompanying 2009 financial statements have been retrospectively
adjusted for the reclassifications.
As discussed in Note 10 to the consolidated financial statements, the disclosures in the accompanying 2009 financial statements have been retrospectively
adjusted for a change in the composition of reportable segments.
/s/ Deloitte & Touche LLP
Chicago, Illinois
February 25, 2010, except for Note 2 (Reclassifications) and Note 10, as to which the date is February 22, 2011
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