United Airlines 2013 Annual Report Download - page 93

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paid eligible non-U.S. co-workers the same percentage of eligible pay that is calculated under the U.S. profit sharing plan for management and administrative
employees. Profit sharing expense is recorded as a component of salaries and related costs in the consolidated statements of operations.
The Company recorded profit sharing and related payroll tax expense of $190 million, $119 million and $265 million in 2013, 2012 and 2011, respectively.
Profit sharing expense is recorded as a component of salaries and related costs in the consolidated statements of operations.
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Fair Value Information. Accounting standards require us to use valuation techniques to measure fair value that maximize the use of observable inputs and
minimize the use of unobservable inputs. These inputs are prioritized as follows:
Level 1 Unadjusted quoted prices in active markets for assets or liabilities identical to those to be reported at fair value
Level 2 Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs
Level 3 Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market
participants would price the assets or liabilities
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