United Airlines 2015 Annual Report Download - page 110
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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 $ 50 $ 25 $ 28 $ 4
Impairment of assets 2 11 18 48
Integration-related costs 18 14 15 13
(Gains) losses on sale of assets and other miscellaneous (gains) losses, net (6) 5 15 66
Special charges 64 55 76 131
Nonoperating and income taxes:
Loss on extinguishment of debt and other, net 6 128 61 7
Income tax benefit related to special charges — — — (11)
Income tax expense (benefit) associated with valuation allowance release — — (3,218) 88
Total operating and nonoperating special items, net of income taxes $ 70 $ 183 $ (3,081) $ 215
Operating:
Severance and benefit costs $ 14 $ 38 $ 6 $ 141
Impairment of assets 1 32 — 16
Integration-related costs 34 17 28 17
Costs associated with permanently grounding Embraer ERJ 135 aircraft — 66 — —
Losses on sale of assets and other special (gains) losses, net 3 16 9 5
Special charges 52 169 43 179
Nonoperating and income taxes:
Loss on extinguishment of debt and other, net 21 — — 53
Income tax benefit related to special charges (1) — (3) (6)
Total operating and nonoperating special charges, net of income taxes $ 72 $ 169 $ 40 $ 226
See Note 16 of this report for additional information of these items.
None.
109
Source: United Continental Holdings, Inc., 10-K, February 18, 2016 Powered by Morningstar® Document Research℠
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