United Airlines 2014 Annual Report Download - page 67

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Table of Contents
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


  
Cash Flows from Operating Activities:
Net income (loss) $ 1,114 $ 654 $ (661)
Adjustments to reconcile net income (loss) to net cash provided (used) by
operating activities -
Depreciation and amortization 1,679 1,689 1,522
Special charges, non-cash portion 78 50 389
Deferred income taxes 13 1 13
Other operating activities 4 (41) (151)
Changes in operating assets and liabilities -
Increase in fuel hedge collateral (577) — —
Unrealized (gain) loss on fuel derivatives and change in related pending
settlements 436 (56) 120
Increase in advance ticket sales 296 45 246
Increase (decrease) in accounts payable (251) (265) 285
(Increase) decrease in receivables 209 (142) (21)
Decrease in frequent flyer deferred revenue and advanced purchase of miles (88) (415) (712)
Increase (decrease) in other liabilities (236) (203) 422
(Increase) decrease in other assets (34) 163 (484)
Decrease in intercompany payables (118) (34) (28)
Increase in intercompany receivables — (5) (9)
Net cash provided by operating activities 2,525 1,441 931
Cash Flows from Investing Activities:
Capital expenditures (2,005) (2,164) (2,016)
Purchases of short-term and other investments (1,041) (575) (737)
Redemptions of short-term and other investments 584 455 497
Proceeds from sale of property and equipment 94 152 183
Decrease in restricted cash, net 75 52 121
Other, net 37 57 —
Net cash used in investing activities (2,256) (2,023) (1,952)
Cash Flows from Financing Activities:
Payments of long-term debt (2,503) (2,185) (1,392)
Proceeds from issuance of long-term debt 1,432 1,423 1,121
Dividend to UAL (212) — —
Principal payments under capital leases (127) (134) (125)
Capitalized financing costs (104) (103) (71)
UAL contributions related to stock plans 60 29 17
Other, net (33) 1 (4)
Net cash used in financing activities (1,487) (969) (454)
Net decrease in cash and cash equivalents (1,218) (1,551) (1,475)
Cash and cash equivalents at beginning of year 3,214 4,765 6,240
Cash and cash equivalents at end of year $ 1,996 $ 3,214 $ 4,765
The accompanying Combined Notes to Consolidated Financial Statements are an integral part of these statements.
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