United Airlines 2012 Annual Report Download - page 79

Table of Contents
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Cash Flows from Operating Activities:
Net income (loss) $(1,188) $ 281 $ 399
Adjustments to reconcile net income (loss) to net cash provided by operating
activities -
Depreciation and amortization 930 921 903
Special charges, non-cash portion 378 36 166
Debt and lease discount amortization 34 56 93
Share-based compensation 9 9 13
Deferred income taxes 17 — (12)
Other operating activities 83 77 83
Changes in operating assets and liabilities -
Decrease in frequent flyer deferred revenue and advanced purchase of miles (674) (235) (126)
Increase in other current assets (506) (129) (2)
Increase in other liabilities 494 200 262
Increase in accounts payable 381 199 101
Increase in advance ticket sales 1,669 116 44
Unrealized loss on fuel derivatives and change in related pending settlements 70 27 4
Increase in receivables (458) (30) (101)
(Increase) decrease in fuel hedge collateral — (59) 10
Increase in intercompany receivables (349) (93) (160)
Increase (decrease) in intercompany payables (28) 42 120
Net cash provided by operating activities 862 1,418 1,797
Cash Flows from Investing Activities:
Capital expenditures and aircraft purchase deposits paid (791) (470) (360)
(Increase) decrease in short-term and other investments, net (41) (269) 18
Proceeds from sale of property and equipment 56 15 40
(Increase) decrease in restricted cash, net 96 (210) 68
Other, net (1) 2 7
Net cash used in investing activities (681) (932) (227)
Cash Flows from Financing Activities:
Payments of long-term debt (738) (1,456) (1,667)
Principal payments under capital leases (122) (246) (482)
Decrease in aircraft lease deposits — 15 236
Increase in deferred financing costs (11) (8) (33)
Proceeds from exercise of stock options 3 2 9
Proceeds from issuance of long-term debt — — 1,995
Other, net (5) — 1
Net cash provided by (used in) financing activities (873) (1,693) 59
Net increase (decrease) in cash and cash equivalents (692) (1,207) 1,629
Cash and cash equivalents at beginning of year 3,458 4,665 3,036
Cash and cash equivalents at end of year $2,766 $ 3,458 $ 4,665
The accompanying Combined Notes to Consolidated Financial Statements are an integral part of these statements.
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