United Airlines 2014 Annual Report Download - page 116
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Table of Contents
UAL’s quarterly financial data is subject to seasonal fluctuations and historically its second and third quarter financial results, which reflect higher travel
demand, are better than its first and fourth quarter financial results. UAL’s quarterly results were impacted by the following significant items (in millions):
Operating:
Severance and benefit costs $ 14 $ 38 $ 6 $ 141
Integration-related costs 34 17 28 17
Costs associated with permanently grounding Embraer ERJ 135 aircraft — 66 — —
Impairment of assets 1 32 — 16
Losses on sale of assets and other special (gains) losses, net 3 16 9 5
Special charges 52 169 43 179
Nonoperating:
Loss on extinguishment of debt and other, net 21 — — 53
Income tax benefit (1) — (3) (6)
Total operating and nonoperating special charges, net of income taxes $ 72 $ 169 $ 40 $ 226
Special charges (income):
Severance and benefit costs $ 14 $ — $ — $ 91
Integration-related costs 70 45 50 40
Labor agreement costs — — 127 —
Impairment of assets — — — 33
(Gains) losses on sale of assets and other special (gains) losses, net 8 7 34 1
Total special items 92 52 211 165
Income tax benefit — — — (7)
Total special items, net of tax $ 92 $ 52 $ 211 $ 158
See Note 17 of this report for additional information of these items.
None.
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