United Airlines 2015 Annual Report Download - page 60

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Cash Flows from Operating Activities:
Net income $ 7,340 $ 1,132 $ 571
Adjustments to reconcile net income to net cash provided by operating activities -
Deferred income taxes (3,177) 13 (14)
Depreciation and amortization 1,819 1,679 1,689
Special charges, non-cash portion 247 78 50
Other operating activities 115 (21) 18
Changes in operating assets and liabilities -
(Increase) decrease in fuel hedge collateral 551 (577) —
Unrealized (gain) loss on fuel derivatives (305) 436 (56)
Decrease in other liabilities (198) (238) (201)
Decrease in frequent flyer deferred revenue and advanced purchase of miles (200) (88) (415)
(Increase) decrease in other assets (160) (34) 164
Decrease in accounts payable (77) (251) (265)
Increase in advance ticket sales 52 296 45
(Increase) decrease in receivables (15) 209 (142)
Net cash provided by operating activities 5,992 2,634 1,444
Cash Flows from Investing Activities:
Capital expenditures (2,747) (2,005) (2,164)
Proceeds from sale of short-term and other investments 2,707 3,112 2,827
Purchases of short-term and other investments (2,517) (3,569) (2,947)
Proceeds from sale of property and equipment 86 94 152
Other, net (22) 112 110
Net cash used in investing activities (2,493) (2,256) (2,022)
Cash Flows from Financing Activities:
Payments of long-term debt (2,178) (2,503) (2,185)
Repurchases of common stock (1,233) (312) —
Proceeds from issuance of long-term debt 1,073 1,432 1,423
Principal payments under capital leases (123) (127) (134)
Capitalized financing costs (37) (104) (103)
Proceeds from the exercise of stock options 16 60 29
Other (13) (42) (2)
Net cash used in financing activities (2,495) (1,596) (972)
Net increase (decrease) in cash and cash equivalents 1,004 (1,218) (1,550)
Cash and cash equivalents at beginning of year 2,002 3,220 4,770
Cash and cash equivalents at end of year $ 3,006 $ 2,002 $ 3,220
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt $ 866 $ 1,114 $ 229
Operating lease conversions to capital lease 285 — —
Exchange of convertible notes for common stock 202 260 240
Airport construction financing 17 14 40
Cash Paid (Refunded) During the Period for:
Interest (net of amounts capitalized) $ 660 $ 748 $ 752
Income taxes 15 (16) (20)
The accompanying Combined Notes to Consolidated Financial Statements are an integral part of these statements.
59
Source: United Continental Holdings, Inc., 10-K, February 18, 2016 Powered by Morningstar® Document Research℠
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