United Airlines Holdings, Inc. - FORM 10-Q - EX-12.2 - EXHIBIT 12.2 - October 21, 2009

Attached files

file filename
10-Q - UAL CORP 10-Q 9-30-2009 - United Airlines Holdings, Inc.form10q.htm
EX-12.1 - EXHIBIT 12.1 - United Airlines Holdings, Inc.ex12_1.htm
EX-31.1 - EXHIBIT 31.1 - United Airlines Holdings, Inc.ex31_1.htm
EX-10.1 - EXHIBIT 10.1 - United Airlines Holdings, Inc.ex10_1.htm
EX-10.2 - EXHIBIT 10.2 - United Airlines Holdings, Inc.ex10_2.htm
EX-31.3 - EXHIBIT 31.3 - United Airlines Holdings, Inc.ex31_3.htm
EX-31.2 - EXHIBIT 31.2 - United Airlines Holdings, Inc.ex31_2.htm
EX-32.2 - EXHIBIT 32.2 - United Airlines Holdings, Inc.ex32_2.htm
EX-31.4 - EXHIBIT 31.4 - United Airlines Holdings, Inc.ex31_4.htm
EX-32.1 - EXHIBIT 32.1 - United Airlines Holdings, Inc.ex32_1.htm
Exhibit 12.2


United Air Lines, Inc. and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges

and Ratio of Earnings to Fixed Charges and Preferred Stock Dividend Requirements


(In millions)
  
Nine Months Ended
  
   
September 30,
  
   
2009
    
2008
  
Earnings (loss):
        
Adjusted (e)
  
Loss before income taxes & adjustments for minority interest and equity earnings of affiliates
   $ (452 )   $ (4,100 )
                 
Add (deduct):
                
Fixed charges, from below
     667       647  
Amortization of capitalized interest
     2       1  
Distributed earnings of affiliates
     2       1  
Minority interest
     (1 )     (2 )
Interest capitalized
     (8 )     (16 )
Earnings (loss) as adjusted
   $ 210     $ (3,469 )
                 
                 
Fixed charges:
                
Interest expensed and capitalized and amortization of debt discounts and issuance costs (a)
   $ 414     $ 427  
Portion of rental expense representative of the interest factor
     253       220  
Fixed charges, as above
     667       647  
                 
Preferred stock dividend requirements (pre-tax) (b)
     -       3  
Fixed charges including preferred stock dividends
   $ 667     $ 650  
                 
Ratio of earnings to fixed charges
  
(c
 )  
(d
 )
Ratio of earnings to fixed charges and preferred stock dividend requirements
  
(c
 )  
(d
 )

(a)
Amortization of debt discounts includes amortization of fresh-start valuation discounts.
(b)
The Company had an immaterial tax rate in the 2008 period and did not adjust its preferred stock dividends.
(c)
Earnings were inadequate to cover fixed charges by $457 million for the nine months ended September 30, 2009.
(d)
Earnings were inadequate to cover both fixed charges and fixed charges and preferred stock dividend requirements by $4.1 billion for the nine months ended September 30, 2008.
(e)
In accordance with a new accounting standard that became effective January 1, 2009, the amounts reported for 2008 have been retrospectively adjusted. Retrospective adoption was required as discussed in Note 2, “New Accounting Pronouncements,” in Combined Notes to Condensed Consolidated Financial Statements (Unaudited).
 

United Airlines Holdings, Inc. Reports