United Airlines 2012 Annual Report Download - page 73

Table of Contents





  
Cash Flows from Operating Activities:
Net income (loss) $ (723) $ 840 $ 253
Adjustments to reconcile net income (loss) to net cash provided by operating activities -
Depreciation and amortization 1,522 1,547 1,079
Special charges, non-cash portion 389 46 166
Debt and lease discount amortization (247) (186) 28
Share-based compensation 14 17 14
Deferred income taxes 13 (6) (10)
Other operating activities 118 77 86
Changes in operating assets and liabilities, net of Merger -
Decrease in frequent flyer deferred revenue and advanced purchase of miles (712) (110) (67)
(Increase) decrease in other assets (484) (181) 59
Increase in other liabilities 415 220 265
Increase in accounts payable 285 177 255
Increase (decrease) in advance ticket sales 246 115 (205)
Unrealized (gain) loss on fuel derivatives and change in related pending settlements 120 (2) 7
Increase in receivables (21) (87) (33)
(Increase) decrease in fuel hedge collateral — (59) 10
Net cash provided by operating activities 935 2,408 1,907
Cash Flows from Investing Activities:
Capital expenditures and aircraft purchase deposits paid (2,016) (840) (416)
Increase in short-term and other investments, net (245) (898) (84)
Proceeds from sale of property and equipment 183 123 48
(Increase) decrease in restricted cash, net 122 (185) 68
Increase in cash from acquisition of Continental — — 3,698
Other, net (1) 1 6
Net cash provided by (used in) investing activities (1,957) (1,799) 3,320
Cash Flows from Financing Activities:
Payments of long-term debt (1,392) (2,367) (2,023)
Proceeds from issuance of long-term debt 1,121 152 2,086
Principal payments under capital leases (125) (250) (484)
Proceeds from exercise of stock options 17 26 21
Increase in deferred financing costs (71) (8) (33)
Purchases of treasury stock (4) — (3)
Decrease in aircraft lease deposits — 15 236
Net cash used in financing activities (454) (2,432) (200)
Net increase (decrease) in cash and cash equivalents (1,476) (1,823) 5,027
Cash and cash equivalents at beginning of year 6,246 8,069 3,042
Cash and cash equivalents at end of year $ 4,770 $ 6,246 $ 8,069
The accompanying Combined Notes to Consolidated Financial Statements are an integral part of these statements.
72