Year Ended December 31, Operating Activities Net income (loss) 2022 737 $ 2021 2020 (1,964) $...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6644a42aece0f_5066644a42ae37df.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6644a42b6bf9c_5076644a42b6348f.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6644a42bd91c2_5076644a42bcf7e2.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6644a42c566e8_5086644a42c4ddbb.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6644a42ccc2a3_5086644a42cc21c0.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6644a42d48cbe_5096644a42d3ba1c.jpg)
Transcribed Image Text:
Year Ended December 31, Operating Activities Net income (loss) 2022 737 $ 2021 2020 (1,964) $ (7,069) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities- Deferred income tax (benefit) Depreciation and amortization Operating and non-operating special charges, non-cash portion Unrealized (gains) losses on investments Amortization of debt discount and debt issuance costs 248 (583) (1,741) 2,456 2,485 2,488 16 32 1,448 (20) 34 194 156 171 94 Other operating activities Changes in operating assets and liabilities- (Increase) decrease in receivables (Increase) decrease in other assets Increase in advance ticket sales Increase in frequent flyer deferred revenue Increase (decrease) in accounts payable Increase (decrease) in other liabilities 218 222 226 (158) (448) 135 (86) (292) 484 1.200 1.521 14 393 307 699 796 985 (1,079) 110 (403) (26) Net cash provided by (used in) operating activities 6,066 2,067 (4.133) Investing Activities: Capital expenditures, net of flight equipment purchase deposit returns (4,819) (2.107) (1,727) Purchases of short-term and other investments (11,232) (68) (552) Proceeds from sale of short-term and other investments 2,084 397 2319 Proceeds from sale of property and equipment 207 107 Other, net Net cash provided by (used in) investing activities (69) (1) 4 (13,829) (1,672) 50 Financing Activities Proceeds from issuance of debt, net of discounts and fees 736 11,096 15,676 Payments of long-term debe, finance leases and other financing liabilities (4,011) (5,205) (4,449) Repurchases of common stock (353) Proceeds frem equity issuance 532 2,103 Ocher, set (74) (27) (20) Net cash provided by (used in) financing activities Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of year Cash, cash equivalents and restricted cash at end of year (3.349) (11,112) 18,533 7,421 $ 6,396 12,957 6,791 8,874 11,742 2,868 18.533 $ 11,742 Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through the issuance of debs, finance leases and other Right-of-use assets acquired through operating leases Investment interests received in exchange for goods and services Lease modifications and lease conversions Cash Paid (Refunded) During the Penad for Interest Income tax 19 $ 814 S 1,968 137 771 198 103 295 (84) 123 527 1,573 5 1,424 5 874 8 (29) LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable Accrued salaries and benefits Advance ticket sales Frequent flyer deferred revenue Current maturities of long-term debt Current maturities of other financial liabilities Current maturities of operating leases Current maturities of finance leases Other Total current liabilities Long-term debt Long-term obligations under operating leases Long-term obligations under finance leases Other liabilities and deferred credits: Frequent flyer deferred revenue Pension liability UNITED AIRLINES HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (In millions, except shares) Postretirement benefit liability Other financial liabilities Other Total other liabilities and deferred credits: Commitments and contingencies Stockholders' equity: Preferred stock Common stock at par, $0.01 par value; authorized 1,000,000,000 shares; outstanding 326,930,321 and 323,810,825 shares at December 31, 2022 and 2021, respectively Additional capital invested Stock held in treasury, at cost Retained earnings Accumulated other comprehensive income (loss) Total stockholders' equity Total liabilities and stockholders' equity At December 31, 2022 2021 3,395 $ 2,562 1,971 2,121 7,555 6,354 2,693 2,239 2,911 3,002 23 834 561 556 104 76 779 560 19,992 18.304 28,283 30,361 4,459 5,152 115 219 3,982 4,043 747 1,920 671 1,000 844 863 1,369 1,284 7,613 9,110 8,986 9.156 (3,534) (3,814) 1,265 625 175 (942) 6,896 5,029 67,358 $ 68,175 UNITED AIRLINES HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (In millions, except shares) ASSETS Current assets: Cash and cash equivalents Short-term investments Restricted cash Receivables, less allowance for credit losses (2022-$11; 2021-$28) Aircraft fuel, spare parts and supplies, less obsolescence allowance (2022-$610; 2021-5546) Prepaid expenses and other Total current assets Operating property and equipment Flight equipment Other property and equipment Purchase deposits for flight equipment Less Accumulated depreciation and amortization Total operating property and equipment Total operating property and equipment, net Operating lease right-of-use assets Other assets: Goodwill Intangibles, less accumulated amortization (2022-$1,472; 2021-$1,544) Restricted cash Deferred income taxes Investments in affiliates and other, less allowance for credit losses (2022-521; 2021-5622) Total other assets Total assets At December 31, 2022 2021 7,166 $ 9,248 18,283 123 45 37 1,801 1,663 1,109 983 689 745 20,058 21,834 42,775 39,584 9,334 8,764 2,820 2,215 54,929 50,563 (20,481) (18,489) 34,448 32,074 3,889 4,645 4,527 4,527 2,762 2,803 210 213 91 659 1,373 1,420 8,963 9,622 67,358 S 68,175 Year Ended December 31, 2022 2021 2020 Operating revenue: Passenger revenue Cargo Other operating revenue Total operating revenue Operating expense: Aircraft fuel Salaries and related costs Landing fees and other rent Depreciation and amortization Regional capacity purchase 40,032 S 20,197 $ 11,805 2,171 2,349 1,648 2,752 2,088 1,902 44,955 24,634 15,355 13,113 5,755 3,153 11,466 9.566 9,522 2,576 2,416 2,127 2,456 2,485 2,488 2,299 2,147 2,039 Aircraft maintenance materials and outside repairs. 2,153 1,316 858 Distribution expenses 1,535 677 459 Aircraft rent 252 228 198 Special charges (credits) 140 (3,367) (2,616) Other operating expenses 6,628 4,433 3,486 Total operating expense Operating income (loss) Nonoperating income (expense): 42,618 25,656 21.714 2,337 (1,022) (6,359) Interest expense Interest income Interest capitalized Unrealized gains (losses) on investments, net, Miscellaneous, net Total nonoperating expense, net Income (loss) before income taxes Income tax expense (benefit) Net income (loss) Earnings (loss) per share, basic Earnings (loss) per share, diluted (1,778) (1,657) (1,063) 298 36 50 105 80 71 20 (34) (194) 8 40 (1,327) (1,347) (1,535) (2.463) 990 (2,557) (8,822) 253 (593) (1,753) $ 737 $ (1,964) $ (7.069) 2.26 S (6.10) $ (25.30) 2.23 $ (6.10) $ (25.30) 2) Depending on the financial statements of the United Airlines, answer the following questions. i. What are the quick ratio and current ratio of the company? Interpret the financial position of the company in terms of liquidity. ii. What are the Profit margin and interest coverage ratio of the company? Interpret the profitability of the company. Year Ended December 31, Operating Activities Net income (loss) 2022 737 $ 2021 2020 (1,964) $ (7,069) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities- Deferred income tax (benefit) Depreciation and amortization Operating and non-operating special charges, non-cash portion Unrealized (gains) losses on investments Amortization of debt discount and debt issuance costs 248 (583) (1,741) 2,456 2,485 2,488 16 32 1,448 (20) 34 194 156 171 94 Other operating activities Changes in operating assets and liabilities- (Increase) decrease in receivables (Increase) decrease in other assets Increase in advance ticket sales Increase in frequent flyer deferred revenue Increase (decrease) in accounts payable Increase (decrease) in other liabilities 218 222 226 (158) (448) 135 (86) (292) 484 1.200 1.521 14 393 307 699 796 985 (1,079) 110 (403) (26) Net cash provided by (used in) operating activities 6,066 2,067 (4.133) Investing Activities: Capital expenditures, net of flight equipment purchase deposit returns (4,819) (2.107) (1,727) Purchases of short-term and other investments (11,232) (68) (552) Proceeds from sale of short-term and other investments 2,084 397 2319 Proceeds from sale of property and equipment 207 107 Other, net Net cash provided by (used in) investing activities (69) (1) 4 (13,829) (1,672) 50 Financing Activities Proceeds from issuance of debt, net of discounts and fees 736 11,096 15,676 Payments of long-term debe, finance leases and other financing liabilities (4,011) (5,205) (4,449) Repurchases of common stock (353) Proceeds frem equity issuance 532 2,103 Ocher, set (74) (27) (20) Net cash provided by (used in) financing activities Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of year Cash, cash equivalents and restricted cash at end of year (3.349) (11,112) 18,533 7,421 $ 6,396 12,957 6,791 8,874 11,742 2,868 18.533 $ 11,742 Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through the issuance of debs, finance leases and other Right-of-use assets acquired through operating leases Investment interests received in exchange for goods and services Lease modifications and lease conversions Cash Paid (Refunded) During the Penad for Interest Income tax 19 $ 814 S 1,968 137 771 198 103 295 (84) 123 527 1,573 5 1,424 5 874 8 (29) LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable Accrued salaries and benefits Advance ticket sales Frequent flyer deferred revenue Current maturities of long-term debt Current maturities of other financial liabilities Current maturities of operating leases Current maturities of finance leases Other Total current liabilities Long-term debt Long-term obligations under operating leases Long-term obligations under finance leases Other liabilities and deferred credits: Frequent flyer deferred revenue Pension liability UNITED AIRLINES HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (In millions, except shares) Postretirement benefit liability Other financial liabilities Other Total other liabilities and deferred credits: Commitments and contingencies Stockholders' equity: Preferred stock Common stock at par, $0.01 par value; authorized 1,000,000,000 shares; outstanding 326,930,321 and 323,810,825 shares at December 31, 2022 and 2021, respectively Additional capital invested Stock held in treasury, at cost Retained earnings Accumulated other comprehensive income (loss) Total stockholders' equity Total liabilities and stockholders' equity At December 31, 2022 2021 3,395 $ 2,562 1,971 2,121 7,555 6,354 2,693 2,239 2,911 3,002 23 834 561 556 104 76 779 560 19,992 18.304 28,283 30,361 4,459 5,152 115 219 3,982 4,043 747 1,920 671 1,000 844 863 1,369 1,284 7,613 9,110 8,986 9.156 (3,534) (3,814) 1,265 625 175 (942) 6,896 5,029 67,358 $ 68,175 UNITED AIRLINES HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (In millions, except shares) ASSETS Current assets: Cash and cash equivalents Short-term investments Restricted cash Receivables, less allowance for credit losses (2022-$11; 2021-$28) Aircraft fuel, spare parts and supplies, less obsolescence allowance (2022-$610; 2021-5546) Prepaid expenses and other Total current assets Operating property and equipment Flight equipment Other property and equipment Purchase deposits for flight equipment Less Accumulated depreciation and amortization Total operating property and equipment Total operating property and equipment, net Operating lease right-of-use assets Other assets: Goodwill Intangibles, less accumulated amortization (2022-$1,472; 2021-$1,544) Restricted cash Deferred income taxes Investments in affiliates and other, less allowance for credit losses (2022-521; 2021-5622) Total other assets Total assets At December 31, 2022 2021 7,166 $ 9,248 18,283 123 45 37 1,801 1,663 1,109 983 689 745 20,058 21,834 42,775 39,584 9,334 8,764 2,820 2,215 54,929 50,563 (20,481) (18,489) 34,448 32,074 3,889 4,645 4,527 4,527 2,762 2,803 210 213 91 659 1,373 1,420 8,963 9,622 67,358 S 68,175 Year Ended December 31, 2022 2021 2020 Operating revenue: Passenger revenue Cargo Other operating revenue Total operating revenue Operating expense: Aircraft fuel Salaries and related costs Landing fees and other rent Depreciation and amortization Regional capacity purchase 40,032 S 20,197 $ 11,805 2,171 2,349 1,648 2,752 2,088 1,902 44,955 24,634 15,355 13,113 5,755 3,153 11,466 9.566 9,522 2,576 2,416 2,127 2,456 2,485 2,488 2,299 2,147 2,039 Aircraft maintenance materials and outside repairs. 2,153 1,316 858 Distribution expenses 1,535 677 459 Aircraft rent 252 228 198 Special charges (credits) 140 (3,367) (2,616) Other operating expenses 6,628 4,433 3,486 Total operating expense Operating income (loss) Nonoperating income (expense): 42,618 25,656 21.714 2,337 (1,022) (6,359) Interest expense Interest income Interest capitalized Unrealized gains (losses) on investments, net, Miscellaneous, net Total nonoperating expense, net Income (loss) before income taxes Income tax expense (benefit) Net income (loss) Earnings (loss) per share, basic Earnings (loss) per share, diluted (1,778) (1,657) (1,063) 298 36 50 105 80 71 20 (34) (194) 8 40 (1,327) (1,347) (1,535) (2.463) 990 (2,557) (8,822) 253 (593) (1,753) $ 737 $ (1,964) $ (7.069) 2.26 S (6.10) $ (25.30) 2.23 $ (6.10) $ (25.30) 2) Depending on the financial statements of the United Airlines, answer the following questions. i. What are the quick ratio and current ratio of the company? Interpret the financial position of the company in terms of liquidity. ii. What are the Profit margin and interest coverage ratio of the company? Interpret the profitability of the company.
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
An assessment of the quality of the electrical power system in Turkey was the topic of an article published in Electrical Engineering(Mar. 2013). One measure of quality is the degree to which voltage...
-
Problem 1. Formulate your answer based on the below information. The intensity of care delivered dropped from a budgeted case mix of 0.90 to an actual case mix of 0.85. What dollar effect did this...
-
Discount-Mart issues $10 million in bonds on January 1, 2021. The bonds have a ten- year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization...
-
What is meant by date alignment? Does it exist on the consolidated worksheet under the following methods, and if not, how is it created prior to elimination of the investment account under each of...
-
Record each of the following transactions in general journal format. a. Issued 50,000 shares of $1 par capital stock for $35 each. b. Billed customers for services provided, $10,000. c. Purchased...
-
In the Sullivan Statistics Survey, individuals were asked to disclose the number of televisions in their household. In the following probability distribution, the random variable X represents the...
-
What differences in perspective about managerial decision making are introduced by the e-business concept?
-
The following is an excerpt from a conversation between the store manager of Yoder Brothers Grocery Stores, Lori Colburn, and Terry Whipple, president of Yoder Brothers Grocery Stores. Terry: Lori,...
-
Please answer the following questions and show your work: Question 2: Consumer's utility is given by U(C, L.) = In(C.) - L. Suppose production is given by: f ( K . , L . ) = K q L -a Where ke, C, and...
-
Watch this video and tell which type of message is given in this video https://www.youtube.com/watch?v=3Z_Ys3BO_4M
-
Problem 1: Grand Monde Company manufactures various lines of bicycles. Because of the high volume of each type of product, the company employs a process cost system using the FIFO method to determine...
-
Draw the shear force, bending moment diagram of a beam for the loading condition as shown in the figure. Determine the maximum bending moment, and shear force in the beam. Support reactions are pre-...
-
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing...
-
1. Start with the temperature at 1000 K. In the data table below, record the peak wavelength. Then, increase the temperature by 1000 K up to 10000 K and record the peak wavelength. Temperature (K)...
-
PROUT COMPANY AND SUBSIDIARYConsolidated Statements WorkpaperFor the Year Ended December 31, 2025Prout SextonEliminationsNoncontrollingConsolidatedCompanyCompanyDebitCreditInterestBalancesINCOME...
-
One of the best ways to create positive relationships with ex-employees is to ________. Select one: A. ask them to sign a release in exchange for severance pay B. make them feel appreciated as they...
-
Reichenbach Co., organized in 2018, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2018 and 2019. Instructions...
-
Minty-Fresh, Inc., manufactures and sells rolls of soft mint candies. Currently, Minty-Fresh produces only one type of mint candy. The mints are packaged in 10-ounce rolls and sold to retailers for...
-
Sweet Sue, Inc., produces a particularly rich praline fudge. Each 10-ounce box sells for $5.50. Variable unit costs are as follows: Fixed overhead cost is $24,000 per year. Fixed selling and...
-
Income statements for two different companies in the same industry are as follows: Required: 1. Compute the degree of operating leverage for each company. 2. Compute the break-even point for each...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App