United Airlines 2015 Annual Report Download - page 75
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At December 31, 2015, approximately 8 million shares of UAL’s common stock were reserved for future issuance related to the issuance of equity-based
awards under the Company’s incentive compensation plans.
As of December 31, 2015, UAL had two shares of junior preferred stock (par value $0.01 per share) outstanding. In addition, UAL is authorized to issue
250 million shares of preferred stock (without par value) under UAL’s amended and restated certificate of incorporation.
The computations of UAL’s basic and diluted earnings per share are set forth below for the years ended December 31 (in millions, except per share amounts):
Earnings available to common stockholders $ 7,340 $ 1,132 $ 571
Basic weighted-average shares outstanding 376 371 348
Earnings per share, basic $ 19.52 $ 3.05 $ 1.64
Earnings available to common stockholders $ 7,340 $ 1,132 $ 571
Effect of dilutive securities — 11 26
Earnings available to common stockholders including the effect of
dilutive securities $ 7,340 $ 1,143 $ 597
Basic weighted-average shares outstanding 376 371 348
Effect of convertible notes — 18 42
Effect of employee stock awards 1 1 1
Diluted weighted-average shares outstanding 377 390 391
Earnings per share, diluted $ 19.47 $ 2.93 $ 1.53
The number of antidilutive securities excluded from the computation of diluted earnings per share amounts were not material.
See Notes 3 and 11 of this report for additional information related to the ASR Program, open market share repurchases, open market purchases of the
Company’s convertible debt and exchange of shares for redemption of convertible debt.
UAL maintains several share-based compensation plans. These plans provide for grants of qualified and non-qualified stock options, stock appreciation
rights, restricted stock awards, RSUs, performance compensation awards, performance units, cash incentive awards and other types of equity-based and
equity-related awards.
All awards are recorded as equity or a liability in the Company’s consolidated balance sheets. The share-based compensation expense is directly recorded in
salaries and related costs or integration-related expense.
The Company generally grants incentive compensation awards, including long-term equity-based awards, during the first quarter of the calendar year. In the
first quarter of 2015, UAL granted share-based compensation awards
74
Source: United Continental Holdings, Inc., 10-K, February 18, 2016 Powered by Morningstar® Document Research℠
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