← United Airlines Holdings, Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $2.3b
$2.1b -5.83%
$2.1b -0.09%
$3.0b +41.33%
($7.1b) -334.93%
($2.0b) +72.22%
$737.0m +137.53%
$2.6b +255.22%
$3.1b +20.28%
$3.4b +6.48%
—
Amortization of Debt Issuance Costs and Discounts — — — — $94.0m $171.0m $156.0m $139.0m $166.0m $77.0m —
Amortization of Intangible Assets $90.0m $79.0m $67.0m $60.0m $55.0m $49.0m $41.0m $37.0m $32.0m $28.0m —
Amortization of debt discount and debt issuance costs — — — — $94.0m $171.0m $156.0m $139.0m $166.0m $77.0m —
Depreciation Amortization Depletion — — — — — — $2.5b $2.7b $2.9b $2.9b $2.9b
Depreciation, Depletion and Amortization $2.0b $2.1b $2.2b $2.3b $2.5b $2.5b $2.5b $2.7b $2.9b $2.9b $2.9b
Deferred Income Tax $1.6b $945.0m $515.0m $882.0m $1.7b $583.0m $248.0m $756.0m $935.0m $925.0m $925.0m
Deferred Tax — — — — — — $248.0m $756.0m $935.0m $925.0m $925.0m
Share-based Payment Arrangement, Expense $70.0m $73.0m $101.0m $100.0m $108.0m $238.0m $89.0m $80.0m $142.0m $148.0m —
Restructuring Costs and Asset Impairment Charges $391.0m $35.0m $416.0m $175.0m $1.4b $32.0m $16.0m $84.0m $158.0m $13.0m —
Nonoperating Income (Expense) ($519.0m) ($499.0m) ($634.0m) ($387.0m) ($2.5b) ($1.5b) ($1.3b) ($824.0m) ($928.0m) ($408.0m) —
Other Nonoperating Income (Expense) ($19.0m) $3.0m ($76.0m) ($27.0m) ($1.3b) $40.0m $8.0m $96.0m ($53.0m) $144.0m —
Changes in operating assets and liabilities:
Change In Working Capital — — — — — — $2.3b $664.0m $1.9b $1.2b $1.2b
(Increase) decrease in receivables ($16.0m) ($183.0m) ($29.0m) $44.0m $135.0m ($448.0m) ($158.0m) ($100.0m) $280.0m ($297.0m) ($297.0m)
Change In Receivables — — — — — — ($158.0m) ($100.0m) $280.0m ($297.0m) ($297.0m)
Inventory Write-down — — — — — — — — $175.0m $119.0m —
Increase (Decrease) in Accounts Payable $239.0m $66.0m $130.0m $324.0m ($1.1b) $985.0m $796.0m $572.0m $178.0m $674.0m $674.0m
Increase in accounts payable $239.0m $66.0m $130.0m $324.0m ($1.1b) $985.0m $796.0m $572.0m $178.0m $674.0m —
Increase in frequent flyer deferred revenue ($60.0m) ($142.0m) $222.0m $271.0m $699.0m $307.0m $393.0m $468.0m $298.0m $336.0m —
Change In Other Current Assets — — — — — ($292.0m) ($86.0m) — — — ($86.0m)
Change In Other Current Liabilities — — — — — — $110.0m $1.0b $454.0m $171.0m $171.0m
Gain (Loss) on Disposition of Other Assets ($51.0m) — — — — — — — — — —
Increase (Decrease) in Other Operating Assets $298.0m $533.0m ($29.0m) $252.0m ($484.0m) $292.0m $86.0m — — — —
Increase in other liabilities ($114.0m) ($478.0m) ($82.0m) ($302.0m) ($26.0m) ($403.0m) $110.0m $1.0b $454.0m $171.0m —
Increase in prepaids and other assets — — — — — ($292.0m) ($86.0m) ($463.0m) ($166.0m) ($264.0m) —
Other operating activities $109.0m $142.0m $170.0m $185.0m $320.0m $393.0m $218.0m $6.0m $9.0m ($62.0m) —
Net Cash Provided by (Used in) Operating Activities $5.5b
$3.4b -38.42%
$6.2b +81.10%
$6.9b +11.78%
($4.1b) -159.82%
$2.1b +150.01%
$6.1b +193.47%
$6.9b +13.93%
$9.4b +36.67%
$8.4b -10.74%
$8.4b 0.00%
Cash flows from investing activities:
Capital Expenditure $3.2b $4.0b $4.2b $4.5b $1.7b $2.1b ($4.8b) ($7.2b) ($5.6b) ($5.9b) ($6.4b)
Capital expenditures, net of flight equipment purchase deposit returns $386.0m $935.0m $174.0m $22.0m $2.0b $814.0m $19.0m $777.0m $406.0m ($25.0m) ($6.4b)
Proceeds from sale of property and equipment $28.0m $12.0m — $49.0m $6.0m $107.0m $207.0m $39.0m $109.0m $98.0m —
Gain (Loss) on Sale of Investments $9.0m — — — — — — — — — —
Payments to Acquire Investments $2.8b $3.2b $2.6b — — — — — — — ($7.5b)
Proceeds from sale of short-term and other investments $2.7b $3.2b $2.6b $3.0b $2.3b $397.0m $2.1b $10.5b $8.7b $7.3b —
Purchases of short-term and other investments ($2.8b) ($3.2b) ($2.6b) ($2.9b) ($552.0m) ($68.0m) ($11.2b) ($9.5b) ($5.8b) ($7.8b) —
Unrealized (gains) losses on investments — $0 $5.0m ($153.0m) $194.0m $34.0m ($20.0m) ($27.0m) $199.0m ($4.0m) —
Unrealized Gain (Loss) on Investments — — — $153.0m ($194.0m) ($34.0m) $20.0m $27.0m ($199.0m) $4.0m ($4.0m)
Net Other Investing Changes — — — — — — ($69.0m) ($23.0m) $3.0m ($95.0m) ($137.0m)
Payments for (Proceeds from) Other Investing Activities ($13.0m) ($120.0m) ($155.0m) ($79.0m) ($10.0m) $1.0m $69.0m $23.0m ($3.0m) $96.0m —
Net Cash Provided by (Used in) Investing Activities ($3.2b) ($3.9b) ($4.6b) ($4.6b) $50.0m ($1.7b) ($13.8b) ($6.1b) ($2.7b) ($6.3b) ($6.7b)
Cash flows from financing activities:
Gain (Loss) on Extinguishment of Debt $1.0m — $0 — — — — — — — —
Issuance Of Debt — — — — — $11.1b $736.0m $2.4b $6.1b $578.0m $6.4b
Long Term Debt Issuance — — — — — — $736.0m $2.4b $6.1b $578.0m $6.4b
Long Term Debt Payments — — — — — — ($4.0b) ($4.2b) ($10.1b) ($4.8b) ($7.7b)
Net Issuance Payments Of Debt — — — — — — ($3.3b) ($1.9b) ($4.0b) ($4.2b) ($1.3b)
Net Long Term Debt Issuance — — — — — — ($3.3b) ($1.9b) ($4.0b) ($4.2b) ($1.3b)
Payments of long-term debt, finance leases and other financial liabilities ($1.2b) ($901.0m) ($1.7b) ($1.2b) ($4.4b) ($5.2b) ($4.0b) ($4.2b) ($10.1b) ($4.8b) —
Proceeds from Issuance of Long-term Debt $808.0m $2.8b $1.7b $1.8b $16.0b $11.1b $736.0m $2.4b $6.1b $578.0m $6.4b
Repayment Of Debt — — — — — — ($4.0b) ($4.2b) ($10.1b) ($4.8b) ($7.7b)
Repayments of Long-term Debt $1.2b $901.0m $1.7b $1.2b $4.4b $5.2b $4.0b $4.2b $10.1b $4.8b ($7.7b)
Common Stock Issuance — — — — — $532.0m $0 $0 ($162.0m) ($637.0m) —
Common Stock Payments — — — — — — $0 $0 ($162.0m) ($637.0m) ($75.0m)
Issuance Of Capital Stock — — — — — $532.0m $0 $0 — — —
Payments for Repurchase of Common Stock $2.6b $1.8b $1.2b $1.6b $353.0m $0 $0 — $162.0m $637.0m —
Proceeds from Issuance of Common Stock — — — — $2.1b — — — — — —
Repurchase Of Capital Stock — — — — — — $0 $0 ($162.0m) ($637.0m) ($75.0m)
Repurchases of common stock ($2.6b) ($1.8b) ($1.2b) ($1.6b) ($353.0m) $0 $0 $0 ($162.0m) ($637.0m) —
Net Other Financing Charges — — — — — — ($74.0m) ($32.0m) ($21.0m) ($115.0m) ($108.0m)
Proceeds from (Payments for) Other Financing Activities $2.0m ($13.0m) ($17.0m) ($30.0m) ($20.0m) ($27.0m) ($74.0m) ($32.0m) ($21.0m) ($115.0m) —
Net Cash Provided by (Used in) Financing Activities ($3.2b)
($195.0m) +93.93%
($1.4b) -623.08%
($1.3b) +9.22%
$13.0b +1112.27%
$6.4b -50.64%
($3.3b) -152.36%
($1.9b) +43.51%
($4.2b) -121.04%
($4.9b) -18.24%
($1.5b) +70.19%
Net increase (decrease) in cash, cash equivalents and restricted cash ($909.0m) ($712.0m) $208.0m $1.1b $8.9b $6.8b ($11.1b) ($1.1b) $2.6b ($2.9b) —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($909.0m) ($712.0m) $208.0m $1.1b $8.9b $6.8b ($11.1b) ($1.1b) $2.6b ($2.9b) $10.3b
Beginning Cash Position — — — — — — $18.5b $7.4b $6.3b $8.9b $9.5b
Cash, cash equivalents and restricted cash at beginning of year $3.2b $2.3b $1.8b $2.9b $11.7b $18.5b $7.4b $6.3b $8.9b $6.1b —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($909.0m) ($712.0m) $1.8b $2.9b $11.7b $18.5b $7.4b $6.3b $8.9b $6.1b $10.3b
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Cash Flow From Continuing Financing Activities — — — — — — ($3.3b) ($1.9b) ($4.2b) ($4.9b) ($1.5b)
Cash Flow From Continuing Investing Activities — — — — — — ($13.8b) ($6.1b) ($2.7b) ($6.4b) ($6.7b)
Change In Account Payable — — — — — — $796.0m $572.0m $178.0m $674.0m $674.0m
Change In Cash Supplemental As Reported — — — — — — ($11.1b) ($1.1b) $2.6b ($2.9b) —
Change In Other Working Capital — — — — — — $1.6b ($383.0m) $1.2b $906.0m $906.0m
Change In Payable — — — — — — $796.0m $572.0m $178.0m $674.0m $674.0m
Change In Prepaid Assets — — — — — — ($86.0m) ($463.0m) ($166.0m) ($264.0m) ($264.0m)
Changes In Cash — — — — — — ($11.1b) ($1.1b) $2.6b ($2.9b) $777.0m
End Cash Position — — — — — — $7.4b $6.3b $8.9b $6.1b $10.3b
Financing Cash Flow — — — — — — ($3.3b)
($1.9b) +43.51%
($4.2b) -121.04%
($4.9b) -18.24%
($1.5b) +70.19%
Financing Receivable, Credit Loss, Expense (Reversal) — — — — $697.0m $0 $0 — — — —
Free Cash Flow — — — — — — $1.2b ($260.0m) $3.8b $2.6b $2.5b
Gain (Loss) Related to Litigation Settlement — — — ($18.0m) — — — — — — —
Gain (Loss) on Disposition of Assets — — — ($14.0m) — — — — — — —
Goodwill $4.5b $4.5b $4.5b $4.5b $4.5b $4.5b $4.5b $4.5b $4.5b $4.5b —
Income Tax Expense (Benefit) $1.6b $868.0m $529.0m $905.0m ($1.8b) ($593.0m) $253.0m $769.0m $1.0b $953.0m —
Income Taxes Paid, Net $14.0m $20.0m $19.0m $29.0m ($29.0m) $0 $8.0m $7.0m $88.0m $62.0m —
Increase (decrease) in advance ticket sales ($22.0m) $146.0m $441.0m $438.0m $14.0m $1.5b $1.2b ($851.0m) $857.0m $570.0m —
Interest $584.0m $571.0m $651.0m $648.0m $874.0m $1.4b $1.6b $1.8b $1.5b $1.3b $1.3b
Interest Expense Nonoperating — — — — — — — — $1.6b $1.4b —
Investing Cash Flow — — — — — — ($13.8b) ($6.1b) ($2.7b) ($6.3b) ($6.7b)
Investment Income, Interest $42.0m $57.0m $101.0m $133.0m $50.0m $36.0m $298.0m $827.0m $726.0m $611.0m —
Investment interests received in exchange for loans, goods and services — — — $0 $0 $131.0m $103.0m $33.0m $18.0m $45.0m —
Net Investment Purchase And Sale — — — — — — ($9.1b) $1.0b $2.9b ($479.0m) ($239.0m)
Net PPE Purchase And Sale — — — — — — $207.0m $39.0m $109.0m $98.0m $83.0m
Operating leases converted to finance leases — — — — — — — $295.0m $239.0m $417.0m —
Other Non Cash Items — — — — — — $390.0m $229.0m $333.0m $28.0m —
Other, net $2.0m ($13.0m) ($17.0m) ($30.0m) ($20.0m) ($27.0m) ($74.0m) ($32.0m) ($21.0m) ($115.0m) —
Proceeds from Stock Options Exercised $6.0m $2.0m — — — — — — — — —
Purchase Of Investment — — — — — — ($11.2b) ($9.5b) ($5.8b) ($7.8b) ($7.5b)
Right-of-use assets acquired or modified through operating leases — $319.0m $663.0m $498.0m $198.0m $771.0m $137.0m $552.0m $577.0m $1.9b —
Sale Of Investment — — — — — — $2.1b $10.5b $8.7b $7.3b $7.2b
Sale Of PPE — — — — — — $207.0m $39.0m $109.0m $98.0m $83.0m
Supplemental disclosure of cash flow information:
Unrealized Gain (Loss) on Derivatives — — — — ($24.0m) — — — — — —
Unrealized Gain Loss On Investment Securities — — — — — — ($20.0m) ($27.0m) $199.0m ($4.0m) ($4.0m)

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.