Attached files
Exhibit 12.2
United Airlines, Inc. and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratios) | Six Months Ended June 30, 2015 |
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||
Earnings (losses): |
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Earnings (loss) before income taxes | $ | 1,708 | $ | 1,110 | $ | 637 | $ | (657) | $ | 848 | $ | 286 | ||||||||||||
Add (deduct): |
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Fixed charges, from below |
727 | 1,655 | 1,627 | 1,514 | 2,005 | 1,274 | ||||||||||||||||||
Amortization of capitalized interest |
6 | 12 | 11 | 9 | 7 | 5 | ||||||||||||||||||
Distributed earnings of affiliates |
| 1 | | | 1 | 2 | ||||||||||||||||||
Interest capitalized |
(25) | (52) | (49) | (37) | (32) | (15) | ||||||||||||||||||
Equity earnings in affiliates |
(1) | (1) | (1) | (4) | (6) | (7) | ||||||||||||||||||
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Earnings as adjusted |
$ | 2,415 | $ | 2,725 | $ | 2,225 | $ | 825 | $ | 2,823 | $ | 1,545 | ||||||||||||
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Fixed charges: |
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Interest expense | $ | 340 | $ | 742 | $ | 781 | $ | 823 | $ | 937 | $ | 780 | ||||||||||||
Portion of rent expense representative of the interest factor (a) | 387 | 913 | 846 | 691 | 1,068 | 494 | ||||||||||||||||||
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Fixed charges |
$ | 727 | $ | 1,655 | $ | 1,627 | $ | 1,514 | $ | 2,005 | $ | 1,274 | ||||||||||||
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Ratio of earnings to fixed charges |
3.32 | 1.65 | 1.37 | (b) | 1.41 | 1.21 | ||||||||||||||||||
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(a) Imputed interest applied to rent expense.
(b) Earnings were inadequate to cover fixed charges by $689 million in 2012.