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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 15, 2012
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Trading Symbol	UAL
Entity Registrant Name	United Continental Holdings, Inc.
Entity Central Index Key	0000100517
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		332,356,058
United Airlines Inc
Document Information [Line Items]
Entity Registrant Name	United Air Lines, Inc.
Entity Central Index Key	0000101001
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		205
Continental Airlines Inc
Document Information [Line Items]
Entity Registrant Name	Continental Airlines, Inc.
Entity Central Index Key	0000319687
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000

STATEMENTS OF CONSOLIDATED OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Operating revenue:
Passenger-Mainline	$ 6,944	$ 6,836	$ 12,898	$ 12,543
Passenger-Regional	1,824	1,734	3,378	3,144
Total passenger revenue	8,768	8,570	16,276	15,687
Cargo	265	316	529	599
Special revenue item		107		107
Other operating revenue	906	816	1,736	1,618
Total revenue	9,939	9,809	18,541	18,011
Operating expense:
Aircraft fuel	3,408	3,227	6,637	5,899
Salaries and related costs	2,024	1,916	3,921	3,722
Regional capacity purchase	643	615	1,259	1,188
Landing fees and other rent	503	502	972	975
Aircraft maintenance materials and outside repairs	432	444	839	883
Depreciation and amortization	378	385	758	773
Distribution expenses	345	375	682	725
Aircraft rent	251	252	502	505
Special charges (Note 10)	206	146	370	223
Other operating expenses	1,174	1,139	2,297	2,276
Total operating expenses	9,364	9,001	18,237	17,169
Operating income (loss)	575	808	304	842
Nonoperating income (expense):
Interest expense	(213)	(250)	(429)	(504)
Interest capitalized	9	8	17	14
Interest income	7	5	12	9
Miscellaneous, net	(38)	(29)	(11)	(30)
Total other income (expense)	(235)	(266)	(411)	(511)
Income (loss) before income taxes	340	542	(107)	331
Income tax expense (benefit)	1	4	2	6
Net income (loss)	$ 339	$ 538	$ (109)	$ 325
Earnings (loss) per share, basic	$ 1.02	$ 1.63	$ (0.33)	$ 0.98
Earnings (loss) per share, diluted	$ 0.89	$ 1.39	$ (0.33)	$ 0.88
United Airlines Inc
Operating revenue:
Passenger-Mainline	$ 3,695	$ 3,718	$ 6,853	$ 6,805
Passenger-Regional	1,033	1,039	1,909	1,917
Total passenger revenue	4,728	4,757	8,762	8,722
Cargo	177	191	348	358
Special revenue item		88		88
Other operating revenue	570	534	1,140	1,078
Total revenue	5,475	5,570	10,250	10,246
Operating expense:
Aircraft fuel	1,929	1,833	3,771	3,345
Salaries and related costs	1,093	1,038	2,120	2,025
Regional capacity purchase	386	401	765	783
Landing fees and other rent	281	275	536	527
Aircraft maintenance materials and outside repairs	282	290	549	582
Depreciation and amortization	232	229	463	456
Distribution expenses	172	199	354	386
Aircraft rent	78	80	156	161
Special charges (Note 10)	176	90	272	164
Other operating expenses	762	698	1,488	1,372
Total operating expenses	5,391	5,133	10,474	9,801
Operating income (loss)	84	437	(224)	445
Nonoperating income (expense):
Interest expense	(136)	(159)	(273)	(327)
Interest capitalized	3	3	6	6
Interest income	2	3	5	5
Miscellaneous, net	(25)	(3)	(7)	(8)
Total other income (expense)	(156)	(156)	(269)	(324)
Income (loss) before income taxes	(72)	281	(493)	121
Income tax expense (benefit)	(1)		1
Net income (loss)	(71)	281	(494)	121
Continental Airlines Inc
Operating revenue:
Passenger-Mainline	3,249	3,116	6,045	5,735
Passenger-Regional	791	696	1,469	1,227
Total passenger revenue	4,040	3,812	7,514	6,962
Cargo	89	126	181	241
Special revenue item		19		19
Other operating revenue	459	327	815	620
Total revenue	4,588	4,284	8,510	7,842
Operating expense:
Aircraft fuel	1,479	1,394	2,866	2,554
Salaries and related costs	902	864	1,749	1,669
Regional capacity purchase	258	214	495	406
Landing fees and other rent	222	228	436	448
Aircraft maintenance materials and outside repairs	162	154	308	303
Depreciation and amortization	146	156	295	317
Distribution expenses	173	177	328	340
Aircraft rent	172	173	346	345
Special charges (Note 10)	30	56	98	59
Other operating expenses	550	494	1,055	998
Total operating expenses	4,094	3,910	7,976	7,439
Operating income (loss)	494	374	534	403
Nonoperating income (expense):
Interest expense	(80)	(88)	(160)	(171)
Interest capitalized	6	4	11	8
Interest income	3	2	6	4
Miscellaneous, net	19	(28)	42	(35)
Total other income (expense)	(52)	(110)	(101)	(194)
Income (loss) before income taxes	442	264	433	209
Income tax expense (benefit)	2	2	1	4
Net income (loss)	$ 440	$ 262	$ 432	$ 205

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net income (loss)	$ 339	$ 538	$ (109)	$ 325
Fuel derivative financial instruments:
Reclassification into earnings	38	(278)	69	(432)
Change in fair value	(262)	(231)	(169)	293
Employee benefit plans:
Amortization of net actuarial items	5	(8)	9	(13)
Investments and other		3	9	7
Comprehensive income (loss) adjustments, before tax	(219)	(514)	(82)	(145)
Total comprehensive income (loss), net	120	24	(191)	180
United Airlines Inc
Net income (loss)	(71)	281	(494)	121
Fuel derivative financial instruments:
Reclassification into earnings	17	(213)	32	(338)
Change in fair value	(148)	(149)	(90)	236
Employee benefit plans:
Amortization of net actuarial items	(1)	(1)	(2)	(1)
Investments and other		2	4	2
Comprehensive income (loss) adjustments, before tax	(132)	(361)	(56)	(101)
Total comprehensive income (loss), net	(203)	(80)	(550)	20
Continental Airlines Inc
Net income (loss)	440	262	432	205
Fuel derivative financial instruments:
Reclassification into earnings	21	(65)	37	(94)
Change in fair value	(114)	(82)	(79)	57
Employee benefit plans:
Amortization of net actuarial items	6	(7)	11	(12)
Investments and other	(1)	1	5	5
Comprehensive income (loss) adjustments, before tax	(88)	(153)	(26)	(44)
Total comprehensive income (loss), net	$ 352	$ 109	$ 406	$ 161

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 6,086	$ 6,246
Short-term investments	1,618	1,516
Total unrestricted cash, cash equivalents and short-term investments	7,704	7,762
Restricted cash	120	40
Receivables, less allowance for doubtful accounts	1,818	1,358
Aircraft fuel, spare parts and supplies, less obsolescence allowance	611	615
Deferred income taxes	658	615
Prepaid expenses and other	797	607
Total current assets	11,708	10,997
Operating property and equipment: Owned-
Flight equipment	16,412	15,786
Other property and equipment	3,118	3,126
Operating property and equipment - owned, gross	19,530	18,912
Less - Accumulated depreciation and amortization	(4,482)	(4,005)
Operating property and equipment - owned, net	15,048	14,907
Purchase deposits for flight equipment	450	382
Operating property and equipment: Capital leases-
Flight equipment	1,483	1,458
Other property and equipment	235	237
Operating property and equipment - capital leases, gross	1,718	1,695
Less - Accumulated amortization	(639)	(565)
Operating property and equipment - capital leases, net	1,079	1,130
Total property, plant, and equipment, net	16,577	16,419
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization	4,681	4,750
Restricted cash	466	529
Other, net	739	770
Other assets total	10,409	10,572
Total assets	38,694	37,988
Current liabilities:
Advance ticket sales	4,667	3,114
Frequent flyer deferred revenue	2,526	2,405
Accounts payable	2,165	1,998
Accrued salaries and benefits	1,230	1,509
Current maturities of long-term debt	1,349	1,186
Current maturities of capital leases	119	125
Other	1,256	1,057
Total current liabilities	13,312	11,394
Long-term debt	10,128	10,496
Long-term obligations under capital leases	851	928
Other liabilities and deferred credits:
Frequent flyer deferred revenue	2,872	3,253
Postretirement benefit liability	2,438	2,407
Pension liability	1,849	1,862
Advanced purchase of miles	1,624	1,711
Deferred income taxes	1,646	1,603
Lease fair value adjustment, net	975	1,133
Other	1,364	1,395
Total non-current liabilities	12,768	13,364
Commitments and contingencies
Stockholder's equity (deficit):
Preferred stock
Common stock	3	3
Additional capital invested	7,135	7,114
Retained earnings (deficit)	(4,972)	(4,863)
Stock held in treasury, at cost	(32)	(31)
Accumulated other comprehensive loss	(499)	(417)
Total stockholders' equity (deficit)	1,635	1,806
Total liabilities and stockholders' equity (deficit)	38,694	37,988
United Airlines Inc
Current assets:
Cash and cash equivalents	4,076	3,458
Short-term investments	342	275
Total unrestricted cash, cash equivalents and short-term investments	4,418	3,733
Restricted cash	120	40
Receivables from related parties (Note 11)	2,432	228
Receivables, less allowance for doubtful accounts	1,568	763
Aircraft fuel, spare parts and supplies, less obsolescence allowance	327	340
Deferred income taxes	316	348
Prepaid expenses and other	619	447
Total current assets	9,800	5,899
Operating property and equipment: Owned-
Flight equipment	9,269	9,135
Other property and equipment	2,190	2,260
Operating property and equipment - owned, gross	11,459	11,395
Less - Accumulated depreciation and amortization	(3,592)	(3,359)
Operating property and equipment - owned, net	7,867	8,036
Purchase deposits for flight equipment	60	57
Operating property and equipment: Capital leases-
Flight equipment	1,483	1,458
Other property and equipment	65	67
Operating property and equipment - capital leases, gross	1,548	1,525
Less - Accumulated amortization	(615)	(548)
Operating property and equipment - capital leases, net	933	977
Total property, plant, and equipment, net	8,860	9,070
Other assets:
Intangibles, less accumulated amortization	2,255	2,283
Receivables from related parties (Note 11)	729
Restricted cash	325	393
Other, net	594	600
Other assets total	3,903	3,276
Total assets	22,563	18,245
Current liabilities:
Advance ticket sales	4,481	1,652
Frequent flyer deferred revenue	2,526	1,484
Accounts payable	1,406	1,109
Accrued salaries and benefits	777	988
Current maturities of long-term debt	643	615
Current maturities of capital leases	115	122
Payables to related parties	104	104
Other	1,044	853
Total current liabilities	11,096	6,927
Long-term debt	4,888	5,130
Long-term obligations under capital leases	674	735
Other liabilities and deferred credits:
Frequent flyer deferred revenue	2,872	2,018
Postretirement benefit liability	2,138	2,115
Pension liability	84	92
Advanced purchase of miles	1,624	1,442
Deferred income taxes	675	707
Other	959	983
Total non-current liabilities	8,352	7,357
Commitments and contingencies
Stockholder's equity (deficit):
Common stock
Additional capital invested	3,439	3,432
Retained earnings (deficit)	(5,702)	(5,208)
Accumulated other comprehensive loss	(184)	(128)
Total stockholders' equity (deficit)	(2,447)	(1,904)
Total liabilities and stockholders' equity (deficit)	22,563	18,245
Continental Airlines Inc
Current assets:
Cash and cash equivalents	2,004	2,782
Short-term investments	1,276	1,241
Total unrestricted cash, cash equivalents and short-term investments	3,280	4,023
Receivables, less allowance for doubtful accounts	250	595
Aircraft fuel, spare parts and supplies, less obsolescence allowance	285	275
Deferred income taxes	347	267
Prepaid expenses and other	184	165
Total current assets	4,346	5,325
Operating property and equipment: Owned-
Flight equipment	7,143	6,651
Other property and equipment	928	866
Operating property and equipment - owned, gross	8,071	7,517
Less - Accumulated depreciation and amortization	(890)	(646)
Operating property and equipment - owned, net	7,181	6,871
Purchase deposits for flight equipment	390	324
Operating property and equipment: Capital leases-
Other property and equipment	170	170
Less - Accumulated amortization	(24)	(17)
Operating property and equipment - capital leases, net	146	153
Total property, plant, and equipment, net	7,717	7,348
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization	2,428	2,469
Restricted cash	140	135
Other, net	434	364
Other assets total	7,525	7,491
Total assets	19,588	20,164
Current liabilities:
Advance ticket sales	186	1,462
Frequent flyer deferred revenue		921
Accounts payable	765	894
Accrued salaries and benefits	454	521
Current maturities of long-term debt	706	571
Current maturities of capital leases	3	3
Payables to related parties	2,210	11
Other	286	279
Total current liabilities	4,610	4,662
Long-term debt	4,834	4,957
Long-term obligations under capital leases	177	193
Other liabilities and deferred credits:
Frequent flyer deferred revenue		1,235
Postretirement benefit liability	300	292
Pension liability	1,765	1,770
Advanced purchase of miles		270
Payables to related parties (Note 11)	729
Deferred income taxes	901	820
Lease fair value adjustment, net	975	1,133
Other	551	507
Total non-current liabilities	5,221	6,027
Commitments and contingencies
Stockholder's equity (deficit):
Common stock
Additional capital invested	4,163	4,148
Retained earnings (deficit)	906	474
Accumulated other comprehensive loss	(323)	(297)
Total stockholders' equity (deficit)	4,746	4,325
Total liabilities and stockholders' equity (deficit)	$ 19,588	$ 20,164

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Receivables, allowance for doubtful accounts	$ 12	$ 7
Aircraft fuel, spare parts and supplies, obsolescence allowance	103	89
Intangibles, accumulated amortization	$ 732	$ 670
Common stock, par value	$ 0.01	$ 0.01
Common shares, authorized	1,000,000,000	1,000,000,000
Common shares, outstanding	332,348,502	330,906,192
United Airlines Inc
Receivables, allowance for doubtful accounts	$ 10	$ 5
Aircraft fuel, spare parts and supplies, obsolescence allowance	78	73
Intangibles, accumulated amortization	$ 561	$ 534
Common stock, par value	$ 5	$ 5
Common shares, authorized	1,000	1,000
Common shares, issued	205	205
Common shares, outstanding	205	205
Continental Airlines Inc
Receivables, allowance for doubtful accounts	$ 2	$ 2
Aircraft fuel, spare parts and supplies, obsolescence allowance	25	16
Intangibles, accumulated amortization	$ 171	$ 136
Common stock, par value	$ 0.01	$ 0.01
Common shares, authorized	1,000	1,000
Common shares, issued	1,000	1,000
Common shares, outstanding	1,000	1,000

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash Flows from Operating Activities:
Net income (loss)	$ (109)	$ 325
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities -
Depreciation and amortization	758	773
Debt and lease discount amortization	(151)	(119)
Special charges, non-cash portion	52	(48)
Other, net	67	106
Increase (decrease) in advance ticket sales	1,553	1,499
(Increase) decrease in receivables	(402)	(387)
Increase (decrease) in frequent flyer deferred revenue and advanced purchase of miles	(347)	(89)
Increase in other current assets	(344)	(251)
Increase (decrease)in accounts payable	153	202
Decrease in other liabilities	(86)	(224)
Increase (decrease) in fuel hedge collateral	(61)	(29)
Net cash provided by (used in) operating activities	1,083	1,758
Cash Flows from Investing Activities:
Capital expenditures	(552)	(350)
Increase in short-term and other investments, net	(96)	(443)
Proceeds from sale of property and equipment	145	54
Aircraft purchase deposits paid, net	(67)	(70)
Increase (decrease) in restricted cash, net	(5)	(20)
Net cash used in investing activities	(575)	(829)
Cash Flows from Financing Activities:
Payments of long-term debt	(696)	(1,477)
Proceeds from issuance of long-term debt	86	142
Principal payments under capital leases	(64)	(176)
Other, net	6	32
Net cash used in financing activities	(668)	(1,479)
Net increase (decrease) in cash and cash equivalents during the period	(160)	(550)
Cash and cash equivalents at beginning of the period	6,246	8,069
Cash and cash equivalents at end of the period	6,086	7,519
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt	341	97
8% Contingent Senior Unsecured Notes, net of discount	48	49
Houston Bush Intercontinental Airport Terminal B Construction Obligation	27
Reclassification of debt to advanced purchases of miles		270
Reclassification of debt discount to other assets		60
Interest paid in kind on UAL 6% Senior Notes		18
United Airlines Inc
Cash Flows from Operating Activities:
Net income (loss)	(494)	121
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities -
Depreciation and amortization	463	456
Debt and lease discount amortization	18	8
Special charges, non-cash portion	51	(28)
Other, net	44	93
Increase (decrease) in advance ticket sales	2,829	915
(Increase) decrease in receivables	(785)	(199)
Increase (decrease) in frequent flyer deferred revenue and advanced purchase of miles	(309)	(180)
Increase in other current assets	(238)	(77)
Increase (decrease)in accounts payable	283	253
Decrease in other liabilities	(77)	(231)
Increase (decrease) in fuel hedge collateral	(27)	(29)
Increase (decrease) in payables to related parties	40	(2)
Increase (decrease) in receivables from related parties	(586)	(58)
Net cash provided by (used in) operating activities	1,212	1,042
Cash Flows from Investing Activities:
Capital expenditures	(245)	(222)
Increase in short-term and other investments, net	(63)	(153)
Proceeds from sale of property and equipment	55	1
Aircraft purchase deposits paid, net	(3)	(3)
Increase (decrease) in restricted cash, net	1	(20)
Net cash used in investing activities	(255)	(397)
Cash Flows from Financing Activities:
Payments of long-term debt	(269)	(1,037)
Principal payments under capital leases	(64)	(175)
Other, net	(6)	9
Net cash used in financing activities	(339)	(1,203)
Net increase (decrease) in cash and cash equivalents during the period	618	(558)
Cash and cash equivalents at beginning of the period	3,458	4,665
Cash and cash equivalents at end of the period	4,076	4,107
Investing and Financing Activities Not Affecting Cash:
Transfer of frequent flyer liability and advanced purchase of miles	2,387
8% Contingent Senior Unsecured Notes, net of discount	48	49
Interest paid in kind on UAL 6% Senior Notes		18
Continental Airlines Inc
Cash Flows from Operating Activities:
Net income (loss)	432	205
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities -
Depreciation and amortization	295	317
Debt and lease discount amortization	(170)	(127)
Special charges, non-cash portion	1	(20)
Other, net	69	30
Increase (decrease) in advance ticket sales	(1,276)	583
(Increase) decrease in receivables	383	(188)
Increase (decrease) in frequent flyer deferred revenue and advanced purchase of miles	(39)	91
Increase in other current assets	(204)	(133)
Increase (decrease)in accounts payable	(128)	(53)
Decrease in other liabilities	(1)	(34)
Increase (decrease) in fuel hedge collateral	(34)
Increase (decrease) in payables to related parties	542	42
Increase (decrease) in receivables from related parties	(1)	3
Net cash provided by (used in) operating activities	(131)	716
Cash Flows from Investing Activities:
Capital expenditures	(307)	(127)
Increase in short-term and other investments, net	(31)	(291)
Proceeds from sale of property and equipment	89	52
Aircraft purchase deposits paid, net	(64)	(67)
Increase (decrease) in restricted cash, net	(5)	1
Net cash used in investing activities	(318)	(432)
Cash Flows from Financing Activities:
Payments of long-term debt	(427)	(440)
Proceeds from issuance of long-term debt	86	142
Other, net	12	22
Net cash used in financing activities	(329)	(276)
Net increase (decrease) in cash and cash equivalents during the period	(778)	8
Cash and cash equivalents at beginning of the period	2,782	3,398
Cash and cash equivalents at end of the period	2,004	3,406
Investing and Financing Activities Not Affecting Cash:
Transfer of frequent flyer liability and advanced purchase of miles	2,387
Property and equipment acquired through the issuance of debt	341	97
Houston Bush Intercontinental Airport Terminal B Construction Obligation	$ 27
Reclassification of debt to advanced purchases of miles		270
Reclassification of debt discount to other assets		$ 60

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS (Parenthetical)	6 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
UAL 8% Contingent Senior Notes
Debt instrument stated interest rate	8.00%	8.00%	8.00%
UAL 6% Senior Convertible Notes
Debt instrument stated interest rate	6.00%	6.00%
United Airlines Inc \| UAL 8% Contingent Senior Notes
Debt instrument stated interest rate	8.00%	8.00%
United Airlines Inc \| UAL 6% Senior Convertible Notes
Debt instrument stated interest rate	6.00%	6.00%

FREQUENT FLYER AND PASSENGER REVENUE ACCOUNTING

6 Months Ended

Jun. 30, 2012

FREQUENT FLYER AND PASSENGER REVENUE ACCOUNTING

NOTE 1—FREQUENT FLYER AND PASSENGER REVENUE ACCOUNTING

Frequent Flyer Awards. Effective January 1, 2012, the Company updated its estimated selling price for miles to the contractual rate at which we sell miles to our Star Alliance partners participating in reciprocal frequent flyer programs. This change in estimate has been applied prospectively effective January 1, 2012.

United and Continental account for miles sold and awarded that will never be redeemed by program members, which the Company refers to as “breakage,” using the redemption method. UAL reviews its breakage estimates annually based upon the latest available information regarding redemption and expiration patterns. The Company re-evaluated its population breakage estimates for Continental OnePass miles, which were previously not subject to an expiration policy, and increased the estimate of miles in the population expected to ultimately expire. As a result, the rate at which we recognize redeemed miles has increased.

The Company’s estimate of the expected expiration of miles requires significant management judgment. Current and future changes to expiration assumptions, the expiration policy, program rules or program redemption opportunities may result in material changes to the deferred revenue balance as well as recognized revenues from the Company’s frequent flyer program.

For the three and six months ended June 30, 2012, the combined net impact of these changes to UAL, United and Continental were not material.

NEW ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Jun. 30, 2012

NEW ACCOUNTING PRONOUNCEMENTS

NOTE 2—NEW ACCOUNTING PRONOUNCEMENTS

In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2011-04 (“ASU 2011-04”), Fair Value Measurement: Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRS. Some of the key amendments to the fair value measurement guidance include the highest and best use and valuation premise for nonfinancial assets, application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk, premiums or discounts in fair value measurement and fair value of an instrument classified in a reporting entity’s shareholders’ equity. Additional disclosures for fair value measurements categorized in Level 3 of the fair value hierarchy include a quantitative disclosure of the unobservable inputs and assumptions used in the measurement, a description of the valuation processes in place, a narrative description of the sensitivity of the fair value to changes in unobservable inputs and interrelationships between those inputs and the level in the fair value hierarchy of items that are not measured at fair value in the consolidated balance sheet but whose fair value must be disclosed. ASU 2011-04 became effective for the Company’s annual and interim periods beginning January 1, 2012, and the required disclosures are disclosed in Note 6 of this report.

EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2012

EARNINGS (LOSS) PER SHARE

NOTE 3—EARNINGS (LOSS) PER SHARE

The table below represents the computation of UAL basic and diluted earnings (loss) per share amounts and the number of securities that have been excluded from the computation of diluted earnings (loss) per share amounts because they were antidilutive (in millions, except per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
UAL basic earnings (loss) per share:
Net income (loss)	$	339		$	538		$	(109	)	$	325
Less: Income allocable to participating securities		(1	)		(2	)		—			(1	)

Earnings (loss) available to common stockholders	$	338		$	536		$	(109	)	$	324

Basic weighted average shares outstanding		331			330			331			329

Earnings (loss) per share, basic	$	1.02		$	1.63		$	(0.33	)	$	0.98


UAL diluted earnings (loss) per share:
Earnings (loss) available to common stockholders	$	338		$	536		$	(109	)	$	324
Effect of UAL 4.5% Senior Limited-Subordination Convertible Notes		2			11			—			—
Effect of Continental 4.5% Convertible Notes		2			2			—			4
Effect of Continental 6% Convertible Junior Subordinated Debentures		3			4			—			—
Effect of UAL 6% Senior Convertible Notes		4			5			—			9

Earnings (loss) available to common stockholders including the effect of dilutive securities	$	349		$	558		$	(109	)	$	337

UAL diluted shares outstanding:
Basic weighted average shares outstanding		331			330			331			329
Effect of stock options		1			1			—			2
Effect of UAL 4.5% Senior Limited-Subordination Convertible Notes		5			13			—			—
Effect of Continental 4.5% Convertible Notes		12			12			—			12
Effect of Continental 6% Convertible Junior Subordinated Debentures		4			4			—			—
Effect of UAL 6% Senior Convertible Notes		40			40			—			40

Diluted weighted average shares outstanding		393			400			331			383

Earnings (loss) per share, diluted	$	0.89		$	1.39		$	(0.33	)	$	0.88

UAL potentially dilutive shares excluded from diluted per share amounts:
Restricted stock and stock options		5			7			7			6
UAL 4.5% Senior Limited-Subordination Convertible Notes		—			—			5			18
Continental 4.5% Convertible Notes		—			—			12			—
Continental 6% Convertible Junior Subordinated Debentures		—			—			4			4
UAL 6% Senior Convertible Notes		—			—			40			—

UAL’s 6% Senior Notes due 2031 (the “6% Senior Notes”), with a principal amount of $652 million as of June 30, 2012, and the $125 million of UAL’s 8% Contingent Senior Notes (the “8% Notes”) issued by UAL in January 2012, are redeemable with either cash or shares of UAL common stock, or in the case of mandatory redemption, a combination thereof, at UAL’s option. The Company is obligated to issue an additional $62.5 million of the 8% Notes by February 2013, which are also redeemable on the same terms as the 6% Senior Notes and the other 8% Notes. These notes are not included in the diluted earnings (loss) per share calculation because it is UAL’s intent to redeem these notes with cash if UAL were to decide to redeem these notes.

During the second quarter of 2011, UAL repurchased at par value approximately $570 million of the $726 million outstanding principal amount of its 4.5% Senior Limited-Subordination Convertible Notes due 2021 (the “4.5% Notes”) with cash after the 4.5% Notes were put to UAL by the noteholders. For the three and six months ended June 30, 2011, the dilutive effect of the 4.5% Notes was excluded from the diluted earnings per share calculations from the date that notice was given of the Company’s intent to pay the notes put to it in cash up to the June 30, 2011 repurchase date.

INCOME TAXES

6 Months Ended

Jun. 30, 2012

INCOME TAXES

NOTE 4—INCOME TAXES

Our effective tax rates are lower than the federal statutory rate of 35% primarily because of the impact of changes to existing valuation allowances. We continue to provide a valuation allowance for our deferred tax assets in excess of deferred tax liabilities because we have concluded that it is more likely than not that such deferred tax assets will ultimately not be realized.

The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income (including the reversals of deferred tax liabilities) during the periods in which those deferred tax assets will become deductible. The Company’s management assesses available positive and negative evidence regarding the realizability of its deferred tax assets, and records a valuation allowance when it is more likely than not that all or a portion of the deferred tax assets will not be realized. To form a conclusion, management considers positive evidence in the form of reversing temporary differences, projections of future taxable income and tax planning strategies, and negative evidence such as recent history of losses. Although the Company was no longer in a three-year cumulative loss position at the end of 2011, management determined that the size and frequency of financial losses in recent years and the uncertainty associated with projecting future taxable income supported the conclusion that the valuation allowance was still needed on net deferred tax assets. If UAL achieves significant profitability in 2012, then management will evaluate whether its recent history of profitability constitutes sufficient positive evidence to support a reversal of a portion, or all, of the remaining valuation allowance.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2012

EMPLOYEE BENEFIT PLANS

NOTE 5—EMPLOYEE BENEFIT PLANS

Defined Benefit Pension and Other Postretirement Benefit Plans. The Company’s net periodic benefit cost includes the following components (in millions):


	Pension Benefits						Other Postretirement Benefits
	Three Months Ended June 30,						Three Months Ended June 30,
	2012			2011			2012			2011
UAL
Service cost	$	25		$	23		$	13		$	12
Interest cost		46			45			32			32
Expected return on plan assets		(35	)		(35	)		(1	)		—
Amortization of unrecognized (gain) loss and prior service cost		6			(7	)		(1	)		(1	)

Net periodic benefit costs	$	42		$	26		$	43		$	43

United
Service cost	$	2		$	2		$	9		$	8
Interest cost		2			3			28			28
Expected return on plan assets		(3	)		(3	)		(1	)		—
Amortization of unrecognized gain and prior service cost		—			(1	)		(1	)		—

Net periodic benefit costs	$	1		$	1		$	35		$	36

Continental
Service cost	$	23		$	21		$	4		$	4
Interest cost		44			42			4			4
Expected return on plan assets		(32	)		(32	)		—			—
Amortization of unrecognized (gain) loss and prior service cost		6			(6	)		—			(1	)

Net periodic benefit costs	$	41		$	25		$	8		$	7


	Pension Benefits						Other Postretirement Benefits
	Six Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
UAL
Service cost	$	50		$	44		$	26		$	24
Interest cost		92			89			63			63
Expected return on plan assets		(70	)		(69	)		(2	)		(1	)
Amortization of unrecognized (gain) loss and prior service cost		11			(12	)		(2	)		(1	)

Net periodic benefit costs	$	83		$	52		$	85		$	85

United
Service cost	$	4		$	3		$	18		$	17
Interest cost		4			5			55			56
Expected return on plan assets		(6	)		(5	)		(2	)		(1	)
Amortization of unrecognized gain and prior service cost		—			(1	)		(2	)		—

Net periodic benefit costs	$	2		$	2		$	69		$	72

Continental
Service cost	$	46		$	41		$	8		$	7
Interest cost		88			84			8			7
Expected return on plan assets		(64	)		(64	)		—			—
Amortization of unrecognized (gain) loss and prior service cost		11			(11	)		—			(1	)

Net periodic benefit costs	$	81		$	50		$	16		$	13

During the six months ended June 30, 2012, Continental contributed $75 million to its tax-qualified defined benefit pension plans. Continental contributed an additional $41 million to its tax-qualified defined benefit pension plans in July 2012.

Share-Based Compensation. In February 2012, UAL granted share-based compensation awards pursuant to the United Continental Holdings, Inc. 2008 Incentive Compensation Plan. These share-based compensation awards include approximately 0.5 million shares of restricted stock and 0.6 million restricted stock units (“RSUs”) that vest pro-rata over three years on the anniversary of the grant date. In addition, UAL granted 1.3 million performance-based RSUs which will vest based on UAL’s return on invested capital for the three years ending December 31, 2014. If this performance condition is achieved, cash payments will be made after the end of the performance period based on the 20-day average closing price of UAL common stock immediately prior to the vesting date. The Company accounts for the RSUs as liability awards. The table below presents information related to share-based compensation (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Share-based compensation expense (a)	$	11	$	14	$	26	$	27


	June 30, 2012		December 31, 2011
Unrecognized share-based compensation expense	$	47	$	43

(a)	Includes $3 million and $7 million of expense recognized in integration-related costs for the three and six months ended June 30, 2012, respectively. Includes $6 million and $9 million of expense recognized in integration-related costs for the three and six months ended June 30, 2011, respectively.

Profit Sharing Plans. In 2012, substantially all employees participate in profit sharing, which pays 15% of total pre-tax earnings, excluding special items and share-based compensation expense, to eligible employees when pre-tax profit, excluding special items, profit sharing expense and share-based compensation program expense, exceeds $10 million. Eligible U.S. co-workers in each participating work group receive a profit sharing payout using a formula based on the ratio of each qualified co-worker’s annual eligible earnings to the eligible earnings of all qualified co-workers in all domestic workgroups. The international profit sharing plan pays eligible non-U.S. co-workers the same percentage of eligible pay that is calculated under the U.S. profit sharing plan. UAL recorded $54 and $90 million of profit sharing and related payroll tax expense in the six months ended June 30, 2012 and 2011, respectively. Profit sharing expense is recorded as a component of salaries and related costs in the consolidated statements of operations.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2012

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

NOTE 6—FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The table below presents disclosures about the financial assets and financial liabilities measured at fair value on a recurring basis in the Company’s financial statements as of June 30, 2012 and December 31, 2011 (in millions):


	June 30, 2012											December 31, 2011
	Total			Level 1		Level 2			Level 3			Total			Level 1		Level 2			Level 3
	UAL
Cash and cash equivalents	$	6,086		$	6,086	$	—		$	—		$	6,246		$	6,246	$	—		$	—
Short-term investments:
Asset-backed securities		522			—		522			—			478			—		478			—
Corporate debt		518			—		518			—			515			—		515			—
Certificates of deposit placed through an account registry service (“CDARS”)		421			—		421			—			355			—		355			—
Auction rate securities		112			—		—			112			113			—		—			113
U.S. government and agency notes		20			—		20			—			22			—		22			—
Other fixed income securities		25			—		25			—			33			—		33			—
Enhanced equipment trust certificates (“EETC”)		63			—		—			63			60			—		—			60
Fuel derivatives, net		(101	)		—		(101	)		—			73			—		73			—
Foreign currency derivatives		—			—		—			—			(1	)		—		(1	)		—
Restricted cash		586			586		—			—			569			569		—			—

	United
Cash and cash equivalents	$	4,076		$	4,076	$	—		$	—		$	3,458		$	3,458	$	—		$	—
Short-term investments:
Asset-backed securities		20			—		20			—			29			—		29			—
Corporate debt		132			—		132			—			138			—		138			—
CDARS		162			—		162			—			87			—		87			—
U.S. government and agency notes		6			—		6			—			5			—		5			—
Other fixed income securities		22			—		22			—			16			—		16			—
EETC		63			—		—			63			60			—		—			60
Fuel derivatives, net		(54	)		—		(54	)		—			44			—		44			—
Restricted cash		445			445		—			—			433			433		—			—

	Continental
Cash and cash equivalents	$	2,004		$	2,004	$	—		$	—		$	2,782		$	2,782	$	—		$	—
Short-term investments:
Asset-backed securities		502			—		502			—			449			—		449			—
Corporate debt		386			—		386			—			377			—		377			—
CDARS		259			—		259			—			268			—		268			—
Auction rate securities		112			—		—			112			113			—		—			113
U.S. government and agency notes		14			—		14			—			17			—		17			—
Other fixed income securities		3			—		3			—			17			—		17			—
Fuel derivatives, net		(47	)		—		(47	)		—			29			—		29			—
Foreign currency derivatives		—			—		—			—			(1	)		—		(1	)		—
Restricted cash		140			140		—			—			135			135		—			—
Convertible debt derivative asset		289			—		—			289			193			—		—			193
Convertible debt option liability		(147	)		—		—			(147	)		(95	)		—		—			(95	)

The tables below present disclosures about the activity for “Level 3” financial assets and financial liabilities for the three and six months ended June 30 (in millions):


	Three Months Ended June 30,
	2012				2011
UAL (a)	Auction Rate Securities		EETC		Auction Rate Securities		EETC
Balance at March 31	$	112	$	62	$	120	$	63
Settlements		—		—		—		—
Reported in earnings—unrealized		—		—		1		—
Reported in other comprehensive income		—		1		—		2

Balance at June 30	$	112	$	63	$	121	$	65

(a)	For 2012 and 2011, United’s only Level 3 recurring measurements are the above EETCs.


	Six Months Ended June 30,
	2012						2011
UAL (a)	Auction Rate Securities			EETC			Auction Rate Securities		EETC
Balance at January 1	$	113		$	60		$	119	$	66
Settlements		—			(2	)		—		(2	)
Reported in earnings—unrealized		(1	)		—			1		—
Reported in other comprehensive income		—			5			1		1

Balance at June 30	$	112		$	63		$	121	$	65

(a)	For 2012 and 2011, United’s only Level 3 recurring measurements are the above EETCs.


	Three Months Ended June 30,
	2012							2011
Continental	Auction Rate Securities		Convertible Debt Supplemental Derivative Asset (a)		Convertible Debt Conversion Option Liability (a)			Auction Rate Securities		Convertible Debt Supplemental Derivative Asset (a)			Convertible Debt Conversion Option Liability (a)
Balance at March 31	$	112	$	231	$	(119	)	$	120	$	262		$	(152	)
Sales		—		—		—			—		—			—
Gains (losses):
Reported in earnings—unrealized		—		58		(28	)		1		(11	)		9
Reported in other comprehensive income		—		—		—			—		—			—

Balance at June 30	$	112	$	289	$	(147	)	$	121	$	251		$	(143	)

(a)

These derivatives are not designated as hedges. The Convertible Debt Supplemental Derivative Asset is classified in “Other Asset - Other, net”, and the Convertible Debt Conversion Option Liability is classified in “Other liabilities and deferred credits - Other” in Continental’s consolidated balance sheets. The earnings impact is classified in “Nonoperating income (expense) - Miscellaneous, net” in Continental’s statements of consolidated operations.


	Six Months Ended June 30,
	2012								2011
Continental	Auction Rate Securities			Convertible Debt Supplemental Derivative Asset (a)		Convertible Debt Conversion Option Liability (a)			Auction Rate Securities		Convertible Debt Supplemental Derivative Asset (a)			Convertible Debt Conversion Option Liability (a)
Balance at January 1	$	113		$	193	$	(95	)	$	119	$	286		$	(164	)
Sales		—			—		—			—		—			—
Gains (losses):
Reported in earnings—unrealized		(1	)		96		(52	)		1		(35	)		21
Reported in other comprehensive income		—			—		—			1		—			—

Balance at June 30	$	112		$	289	$	(147	)	$	121	$	251		$	(143	)

(a)

As of June 30, 2012, Continental’s auction rate securities, which had a par value of $135 million and an amortized cost basis of $112 million, were variable-rate debt instruments with contractual maturities generally greater than ten years and with interest rates that reset every 7, 28 or 35 days, depending on the terms of the particular instrument. These securities are backed by pools of student loans guaranteed by state-designated guaranty agencies and reinsured by the U.S. government. All of the auction rate securities that Continental holds are senior obligations under the applicable indentures authorizing the issuance of the securities.

As of June 30, 2012, United’s EETC securities have an amortized cost basis of $64 million and unrealized losses of $1 million. All changes in the fair value of these investments have been classified within accumulated other comprehensive income.

Continental’s debt-related derivatives presented in the tables above relate to (a) supplemental indenture agreements that provide that Continental’s convertible debt, which was previously convertible into shares of Continental common stock, is convertible into shares of UAL common stock upon the terms and conditions specified in the indentures, and (b) the embedded conversion options in Continental’s convertible debt that are required to be separated and accounted for as though they are free-standing derivatives as a result of the Continental debt becoming convertible into the common stock of a different reporting entity. These derivatives are reported in Continental’s separate financial statements and eliminated in consolidation for UAL.

The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above as of June 30, 2012 and December 31, 2011 (in millions):


	Fair Value of Debt by Fair Value Hierarchy Level
	June 30, 2012										December 31, 2011
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
UAL debt	$	11,477	$	12,542	$	—	$	7,250	$	5,292	$	11,682	$	11,992	$	—	$	859	$	11,133
United debt		5,531		5,718		—		2,197		3,521		5,745		5,630		—		—		5,630
Continental debt		5,540		5,832		—		4,061		1,771		5,528		5,503		—		—		5,503

Quantitative Information About Level 3 Fair Value Measurements as of June 30, 2012 ($ in millions)


Item	Fair Value at June 30, 2012			Valuation Technique	Unobservable Input	Range (Weighted Average)
Auction rate securities	$	112		Discounted Cash Flows	Credit risk premium (a) Illiquidity premium (b) Expected repayments (c)	1% 5% Assumed repayment in years 2013 through 2036

EETC	$	63		Discounted Cash Flows	Structure credit risk (d)	7% - 9% (8%)

Convertible debt derivative asset	$	289		Binomial Lattice Model	Expected volatility (e) Own credit risk (f)	45% - 60% (48%) 7% - 10% (8%)

Convertible debt option liability	$	(147	)	Binomial Lattice Model	Expected volatility (e) Own credit risk (f)	45% - 60% (48%) 7% - 10% (8%)

(a)	Represents the credit risk premium component of the discount rate that the Company has determined market participants would use in pricing the investments.

(b)	Represents the illiquidity premium component of the discount rate that the Company has determined market participants would use in pricing the investments.

(c)	Represents the estimated timing of principal repayments used in the discounted cash flow model.

(d)	Represents the credit risk premium of the EETC structure above the risk-free rate that the Company has determined market participants would use in pricing the instruments.

(e)	Represents the range in volatility estimates that the Company has determined market participants would use when pricing the instruments.

(f)	Represents the range of Company-specific risk adjustments that the Company has determined market participants would use as a model input.

Valuation Processes—Level 3 Measurements—The Company’s internal valuation group is responsible for determining the fair value of financial instruments. Depending on the instrument, the valuation group utilizes discounted cash flow methods or option pricing methods as indicated above. Valuations using discounted cash flow methods are generally conducted by the valuation group. Valuations using option pricing models are generally provided to the Company by third-party valuation experts. Each reporting period, the valuation group reviews the unobservable inputs used by third-party valuation experts for reasonableness utilizing relevant information available to the Company from other published sources. The Company has a formal process to review changes in fair value for satisfactory explanation.

Sensitivity Analysis—Level 3 Measurements—Changes in the unobservable input values would be unlikely to cause material changes in the fair value of the auction rate securities and EETCs.

The significant unobservable inputs used in the fair value measurement of the Continental convertible debt derivative assets and liabilities are the UAL stock expected volatility and the Company’s own credit risk. Significant increases (decreases) in expected volatility would result in a higher (lower) fair value measurement. Significant increases (decreases) in the Company’s own credit risk would result in a lower (higher) fair value measurement. A change in one of the inputs would not necessarily result in a directionally similar change in the other.

Fair value of the financial instruments included in the tables above was determined as follows:


Description		Fair Value Methodology

Cash and Cash Equivalents		The carrying amounts approximate fair value because of the short-term maturity of these assets.

Short-term Investments, Investments, and Restricted Cash		Fair value is based on (a) the trading prices of the investment or similar instruments, (b) an income approach, which uses valuation techniques to convert future amounts into a single present amount based on current market expectations about those future amounts when observable trading prices are not available, or (c) internally-developed models of the expected future cash flows related to the securities. These assets have maturities of less than one year except for the EETCs, auction rate securities and corporate debt.

Fuel Derivatives		Derivative contracts are privately negotiated contracts and are not exchange traded. Fair value measurements are estimated with option pricing models that employ observable inputs. Inputs to the valuation models include contractual terms, market prices, yield curves, fuel price curves and measures of volatility, among others.

Foreign Currency Derivatives		Fair value is determined with a formula utilizing observable inputs. Significant inputs to the valuation models include contractual terms, risk-free interest rates and forward exchange rates.

Debt		Fair values were based on either market prices or the discounted amount of future cash flows using our current incremental rate of borrowing for similar liabilities.

Convertible Debt Derivative Asset and Option Liability		The Company used a binomial lattice model to value the conversion options and the supplemental derivative assets. Significant binomial model inputs that are not objectively determinable include volatility and discount rate.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

HEDGING ACTIVITIES

6 Months Ended

Jun. 30, 2012

HEDGING ACTIVITIES

NOTE 7—HEDGING ACTIVITIES

Aircraft Fuel Hedges. The Company has a risk management strategy to hedge a portion of its price risk related to projected aircraft fuel requirements. The Company periodically enters into derivative contracts to mitigate the adverse financial impact of potential increases in the price of fuel. The Company does not enter into derivative instruments for speculative, non-risk management purposes.

Upon proper qualification, the Company accounts for its fuel derivative instruments as cash flow hedges. All derivatives designated as hedges that meet certain requirements are granted special hedge accounting treatment. Generally, utilizing the special hedge accounting, all periodic changes in fair value of the derivatives designated as hedges that are considered to be effective are recorded in accumulated other comprehensive income (loss) (“AOCI”) until the underlying fuel is consumed and recorded in fuel expense. The Company is exposed to the risk that its hedges may not be effective in offsetting changes in the cost of fuel and that its hedges may not continue to qualify for special hedge accounting. Hedge ineffectiveness results when the change in the fair value of the derivative instrument exceeds the change in the value of the Company’s expected future cash outlay to purchase and consume fuel. To the extent that the periodic changes in the fair value of the derivatives are not effective, that ineffectiveness is classified as other nonoperating income (expense).

The Company records each derivative instrument as a derivative asset or liability on a gross basis in its consolidated balance sheets and, accordingly, records any related collateral on a gross basis.

As of June 30, 2012, our projected fuel requirements for the remainder of 2012 were hedged as follows:


	Maximum Price					Minimum Price
	% of Expected Consumption			Weighted Average Price (per gallon)		% of Expected Consumption			Weighted Average Price (per gallon)
UAL (a)
Heating oil collars		20	%	$	3.41		20	%	$	2.74
Brent crude oil collars		13			2.74		13			1.93
Diesel fuel collars		9			3.18		9			2.40
Diesel fuel call options		1			3.17		N/A			N/A
Aircraft fuel collars		1			3.00		1			2.35
Aircraft fuel swaps		1			2.72		1			2.72

Total		45	%				44	%

(a)	As of June 30, 2012, UAL had also hedged 15% of projected first half 2013 fuel consumption.

The following tables present information about the financial statement classification of the Company’s derivatives and related gains (losses) (in millions):


		June 30, 2012						December 31, 2011
Derivatives designated as hedges	Balance Sheet Location	UAL		United		Continental		UAL		United		Continental
Assets:
Fuel contracts due within one year	Receivables	$	3	$	2	$	1	$	77	$	48	$	29

Liabilities:
Fuel contracts due within one year	Other Current Liabilities	$	104	$	56	$	48	$	4	$	4	$	—


	Amount of Loss Recognized in AOCI on Derivatives (Effective portion)						Gain (Loss) Reclassified from AOCI into Income (Fuel Expense)					Amount of Loss Recognized in Income (Ineffective Portion)
	Three Months Ended June 30,						Three Months Ended June 30,					Three Months Ended June 30,
Fuel contracts	2012			2011			2012			2011		2012			2011
UAL	$	(262	)	$	(231	)	$	(38	)	$	278	$	(29	)	$	(34	)
United		(148	)		(149	)		(17	)		213		(16	)		(7	)
Continental		(114	)		(82	)		(21	)		65		(13	)		(27	)


	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective portion)					Gain (Loss) Reclassified from AOCI into Income (Fuel Expense)					Amount of Loss Recognized in Income (Ineffective Portion)
	Six Months Ended June 30,					Six Months Ended June 30,					Six Months Ended June 30,
Fuel contracts	2012			2011		2012			2011		2012			2011
UAL	$	(169	)	$	293	$	(69	)	$	432	$	(4	)	$	(31	)
United		(90	)		236		(32	)		338		(2	)		(5	)
Continental		(79	)		57		(37	)		94		(2	)		(26	)

Derivative Credit Risk and Fair Value

The Company is exposed to credit losses in the event of nonperformance by counterparties to its derivative instruments. While the Company records derivative instruments on a gross basis, the Company monitors its net derivative position with each counterparty to monitor credit risk. Based on the fair value of our fuel derivative instruments, our counterparties may require us to post collateral when the price of the underlying commodity decreases, and we may require our counterparties to provide us with collateral when the price of the underlying commodity increases. The following table presents information related to the Company’s derivative credit risk as of June 30, 2012 (in millions):


	UAL		United		Continental
Net derivative liability with counterparties	$	101	$	54	$	47
Collateral posted by the Company with its counterparties (a)		61		27		34
Potential loss related to the failure of the Company’s counterparties to perform		—		—		—

(a)

Classified as a current receivable.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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-Name Accounting Standards Codification
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+ Details

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2012

COMMITMENTS AND CONTINGENCIES

NOTE 8—COMMITMENTS AND CONTINGENCIES

General Guarantees and Indemnifications. In the normal course of business, the Company enters into numerous real estate leasing and aircraft financing arrangements that have various guarantees included in the contracts. These guarantees are primarily in the form of indemnities under which the Company typically indemnifies the lessors and any tax/financing parties against tort liabilities that arise out of the use, occupancy, operation or maintenance of the leased premises or financed aircraft. Currently, the Company believes that any future payments required under these guarantees or indemnities would be immaterial, as most tort liabilities and related indemnities are covered by insurance (subject to deductibles). Additionally, certain leased premises such as fueling stations or storage facilities include indemnities of such parties for any environmental liability that may arise out of or relate to the use of the leased premises.

Legal and Environmental Contingencies. The Company has certain contingencies resulting from litigation and claims incident to the ordinary course of business. Management believes, after considering a number of factors, including (but not limited to) the information currently available, the views of legal counsel, the nature of contingencies to which the Company is subject and prior experience, that the ultimate disposition of these contingencies will not materially affect the Company’s consolidated financial position or results of operations.

The Company records liabilities for legal and environmental claims when a loss is probable and reasonably estimable. These amounts are recorded based on the Company’s assessments of the likelihood of their eventual disposition.

Commitments. On July 12, 2012, UAL entered into a purchase agreement with The Boeing Company (“Boeing”) for a firm narrowbody aircraft order of 100 Boeing 737 MAX 9 aircraft, with options to purchase an additional 100 Boeing 737 MAX 9 aircraft (the “737 MAX 9 Agreement”). Also on July 12, 2012, United entered into a purchase agreement with Boeing for a firm narrowbody aircraft order of 50 Boeing 737-900ER aircraft, with options to purchase an additional 60 Boeing 737-900ER aircraft. The firm order 50 Boeing 737-900ER aircraft and 100 Boeing 737 MAX 9 aircraft are expected to be delivered between 2013 and 2022.

The July 2012 Boeing aircraft order is part of the Company’s flexible fleet strategy, which provides the Company the ability to replace older, less fuel efficient aircraft and to adjust the size of its fleet to respond to market conditions and opportunities. Specifically, the Boeing 737-900ER order discussed above would largely serve as replacement for Boeing 757-200 aircraft that are operated by United whose leases expire over the next five years.

United Aircraft Commitments. As of June 30, 2012 (adjusted to include the order discussed above), United had firm commitments to purchase 100 new aircraft (25 Boeing 787 aircraft, 50 Boeing 737-900ER aircraft and 25 Airbus A350XWB aircraft) scheduled for delivery from 2013 through 2019. United also has options and purchase rights for 152 additional Boeing and Airbus aircraft.

Continental Aircraft Commitments. As of June 30, 2012 (adjusted to include the order discussed above) Continental had firm commitments to purchase 72 new aircraft (47 Boeing 737 aircraft and 25 Boeing 787 aircraft) scheduled for delivery from 2012 through 2016. Continental also has options to purchase 89 Boeing aircraft. From July 1, 2012 through December 31, 2012, Continental expects to take delivery of nine Boeing 737-900ER aircraft and five Boeing 787-8 aircraft.

United has secured considerable backstop financing commitments from its widebody aircraft and engine manufacturers, subject to certain customary conditions. In addition, Continental has arranged for financing of five Boeing 737-900ER aircraft and four Boeing 787-8 aircraft scheduled for delivery from July 2012 through December 2012. See Note 9 of this report for additional information. However, UAL and United do not have backstop financing or any other financing currently in place for their firm narrowbody aircraft orders with Boeing, and Continental does not have backstop financing or any other financing currently in place for its other Boeing aircraft on order. Financing will be necessary to satisfy the Company’s capital commitments for its firm order aircraft and other related capital expenditures. The Company can provide no assurance that any financing not already in place for aircraft and spare engine deliveries will be available to the Company on acceptable terms when necessary or at all.

The table below summarizes the capital commitments of the Company, United and Continental as of June 30, 2012, which primarily relate to the acquisition of aircraft and related spare engines, aircraft improvements and acquisition of information technology services and assets. The table below is adjusted to include the impact of the July 2012 Boeing 737-900ER and 737 MAX 9 aircraft orders discussed above. As UAL has the right, and intends in the future, to assign its interest under the 737 MAX 9 Agreement with respect to one or more of the Boeing 737 MAX 9 aircraft to either United or Continental, but has not determined the actual assignment of the Boeing 737 MAX 9 between United and Continental, the table below assumes that 50% of the Boeing 737 MAX 9 order is assigned to United and 50% of the Boeing 737 MAX 9 order is assigned to Continental. The table below is also adjusted to include the impact of the resolution between the Company and Boeing in July 2012 relating to compensation in connection with certain Boeing 787 aircraft delivery delays, which contemplates certain adjustments to Continental’s and United’s Boeing 787 purchase agreements.


	In billions
	UAL		United		Continental
Last six months of 2012	$	1.2	$	0.3	$	0.9
2013		1.4		0.4		1.0
2014		1.3		0.6		0.7
2015		2.1		0.8		1.3
2016		2.8		2.0		0.8
After 2016		9.7		7.2		2.5

	$	18.5	$	11.3	$	7.2

Any incremental firm aircraft orders, including through the exercise of purchase options, will increase the total future capital commitments of the Company, United and/or Continental.

UAL and Continental have concluded their discussions with Boeing regarding delays in delivery of certain Boeing 787 aircraft, and have reached a resolution with Boeing regarding compensation to be received in connection with those delays.

Credit Card Processing Agreements. United and Continental have agreements with financial institutions that process customer credit card transactions for the sale of air travel and other services. Under certain of United’s and Continental’s credit card processing agreements, the financial institutions either require, or under certain circumstances have the right to require, that United and Continental maintain a reserve equal to a portion of advance ticket sales that have been processed by that financial institution, but for which United and Continental have not yet provided the air transportation.

As of June 30, 2012, $25 million was provided by the Company as a cash reserve for its credit card processing agreement with JPMorgan Chase Bank, N.A. and Paymentech, LLC. Our credit card processing agreement with JPMorgan Chase Bank, N.A. and Paymentech, LLC to process MasterCard/Visa transactions and our credit card processing agreement with American Express allow the applicable financial institution to require additional cash or other collateral reserves to be established or additional withholding of payments related to receivables collected if the Company does not maintain certain minimum levels of unrestricted cash, cash equivalents and short term investments. The Company’s current level of unrestricted cash, cash equivalents and short term investments is substantially in excess of these minimum levels. The amount of required cash or other collateral reserves or withheld payments would be no more than the liability of the credit card processor for tickets purchased with the applicable credit cards for travel that had not occurred. In conjunction with the single passenger service system conversion in March 2012, all tickets sold since that date have been on United ticket stock. As a result, the advance ticket sales by Continental have diminished and are expected to be zero by March 2013.

Guarantees and Off-Balance Sheet Financing.

Guarantees. United and Continental are the guarantors of approximately $270 million and $1.7 billion, respectively, in aggregate principal amount of tax-exempt special facilities revenue bonds and interest thereon. These bonds, issued by various airport municipalities, are payable solely from rentals paid under long-term agreements with the respective governing bodies. The leasing arrangements associated with $1.8 billion ($270 million for United and $1.5 billion for Continental) of these obligations are accounted for as operating leases with the associated expense recorded on a straight-line basis resulting in ratable accrual of the lease obligation over the expected lease term. The leasing arrangements associated with $190 million (for Continental only) of these obligations are accounted for as capital leases. These bonds are due between 2015 and 2033.

In the Company’s financing transactions that include loans, the Company typically agrees to reimburse lenders for any reduced returns with respect to the loans due to any change in capital requirements and, in the case of loans in which the interest rate is based on the London Interbank Offered Rate (“LIBOR”), for certain other increased costs that the lenders incur in carrying these loans as a result of any change in law, subject in most cases to obligations of the lenders to take certain limited steps to mitigate the requirement for, or the amount of, such increased costs. At June 30, 2012, UAL had $2.5 billion of floating rate debt (consisting of United’s $2.0 billion and Continental’s $498 million of debt) and $376 million of fixed rate debt (consisting of United’s $195 million and Continental’s $181 million of debt), with remaining terms of up to ten years, that are subject to these increased cost provisions. In several financing transactions involving loans or leases from non-U.S. entities, with remaining terms of up to ten years and an aggregate balance of $2.8 billion (consisting of United’s $2.2 billion and Continental’s $595 million balance), the Company bears the risk of any change in tax laws that would subject loan or lease payments thereunder to non-U.S. entities to withholding taxes, subject to customary exclusions.

Houston Bush Terminal B Redevelopment Project. In May 2011, UAL, in partnership with the Houston Airport System, announced that it would begin construction of the first phase of a potential three-phase $1 billion terminal improvement project for Terminal B at George Bush Intercontinental Airport (“Houston Bush”) by the end of 2011. In November 2011, the City of Houston issued approximately $113 million of special facilities revenue bonds to finance the construction of a new south concourse at Houston Bush dedicated to the Company’s regional jet operations. The bonds are guaranteed by Continental and are payable from certain rentals paid by Continental under a special facilities lease agreement with the City of Houston. Continental’s initial commitment is to construct the first phase of the originally anticipated three-phase project. Continental’s cost of construction of phase one of the project is currently estimated to be approximately $100 million and is funded by special facilities revenue bonds. Construction of the remaining phases of the project, if any, will be based on demand over the next seven to 10 years, with phase one currently expected to be completed in late 2013.

Based on a qualitative assessment of the Houston Bush Terminal B Redevelopment Project, due to the fact that Continental is guaranteeing the special facilities revenue bonds and the requirement that Continental fund cost overruns with no stated limits, Continental is considered the owner of the property during the construction period for accounting purposes. As a result, the construction project is being treated as a financing transaction such that the property and related financing will be included on UAL’s consolidated balance sheet as an asset under operating property and equipment and as a construction obligation under other long-term liabilities.

Credit Facilities. As of June 30, 2012 the Company had its entire commitment capacity of $500 million available under the Credit and Guaranty Agreement, dated as of December 22, 2011 (the “Revolving Credit Facility”) with a syndicate of banks led by Citibank N.A., as administrative agent. The Revolving Credit Facility has an expiration date of January 30, 2015.

Labor Negotiations. As of June 30, 2012, UAL and its subsidiaries had approximately 88,000 active employees, of whom approximately 80% are represented by various U.S. labor organizations. On February 27, 2012, the pilots at both United and Continental agreed to an extension of their protocol for joint negotiations and continue to engage in joint bargaining with the Company. On February 28, 2012, the flight attendants at United ratified a new collective bargaining agreement and, on July 13, 2012, the flight attendants at Continental ratified a new collective bargaining agreement. On July 17, 2012, the Company reached a tentative agreement with its Continental Micronesia flight attendants, subject to ratification in the third quarter of 2012. Joint negotiations will begin shortly for a joint collective bargaining agreement covering the Company’s flight attendant work groups.

On March 7, 2012, the passenger service employees at both United and Continental voted to be represented by the International Association of Machinists and Aerospace Workers, AFL-CIO and negotiations are underway for a joint collective bargaining agreement for this employee group. The Company reached a tentative agreement with the United ground instructors, which the United ground instructors ratified on June 8, 2012. We are continuing our negotiations for joint collective bargaining agreements with other work groups, including technicians, dispatchers, fleet service employees, storekeepers and various smaller groups.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
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-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Section S99
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-Subparagraph (SX 210.5-02.25)
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

DEBT

6 Months Ended

Jun. 30, 2012

DEBT

NOTE 9—DEBT

As of June 30, 2012, a substantial portion of our assets are pledged as collateral for our debt. These assets principally consist of aircraft and the related spare parts and engines, route authorities and loyalty program intangible assets. As of June 30, 2012, UAL, United and Continental were in compliance with their respective debt covenants.

Continental EETCs. In March 2012, Continental created two pass-through trusts, one of which issued $753 million aggregate principal amount of Class A pass-through certificates with a stated interest rate of 4.15% and the other of which issued $139 million aggregate principal amount of Class B pass-through certificates with a stated interest rate of 6.25%. The proceeds of the issuance of the Class A and Class B pass-through certificates, which amounted to $892 million, have been and will be used to purchase equipment notes issued by Continental. Of the $892 million in proceeds raised by the pass-through trusts, Continental received $392 million as of June 30, 2012, in exchange for Continental’s issuance of an equivalent principal amount of equipment notes, which has been recorded as debt. The remaining amount is expected to be received during the last six months of this year as aircraft are delivered to Continental and Continental issues equipment notes to the trusts. Continental records the debt obligation upon issuance of the equipment notes rather than upon the initial issuance of the pass-through certificates. The proceeds have been and are expected to be used to fund the acquisition of new aircraft, and in the case of currently owned aircraft, for general corporate purposes.

The Company evaluated whether the pass-through trusts formed are variable interest entities (“VIEs”) required to be consolidated by the Company under applicable accounting guidance, and determined that the pass-through trusts are VIEs. The Company determined that it does not have a variable interest in the pass-through trusts. The Company does not invest in or obtain a financial interest in the pass-through trusts. Rather, Continental has an obligation to make interest and principal payments on its equipment notes held by the pass-through trusts. The Company did not intend to have any voting or non-voting equity interest in the pass-through trusts or to absorb variability from the pass-through trusts. Based on this analysis, the Company determined that it is not required to consolidate the pass-through trusts.

8% Contingent Senior Notes. UAL is obligated under an indenture to issue to the Pension Benefit Guaranty Corporation (“PBGC”) up to $500 million aggregate principal amount of 8% Notes in up to eight equal tranches of $62.5 million if certain financial triggering events occur (with each tranche issued no later than 45 days following the end of any applicable fiscal year).

During 2011, a financial triggering event under the 8% Notes indenture occurred at both June 30, 2011 and December 31, 2011 and, as a result, UAL issued two tranches of $62.5 million each of the 8% Notes in January 2012, which were recorded during 2011 at their fair value of $88 million as a component of integration costs. In addition, at June 30, 2012, a financial triggering event under the 8% Notes indenture occurred and, as a result, UAL is obligated to issue an additional tranche of $62.5 million of the 8% Notes by February 2013. UAL recorded a liability for the fair value of the obligation of $48 million during the second quarter of 2012.

SPECIAL ITEMS

6 Months Ended

Jun. 30, 2012

SPECIAL ITEMS

NOTE 10—SPECIAL ITEMS

Special Revenue. During the second quarter of 2011, the Company modified the previously existing United and Continental co-branded credit card agreements with Chase Bank USA, N.A. This modification resulted in the following one-time adjustment to decrease frequent flyer deferred revenue and increase special revenue in accordance with ASU 2009-13 for the three and six months ended June 30, 2011 as follows (in millions):


	UAL		United		Continental
Special revenue item	$	107	$	88	$	19

Special Charges. For the three and six months ended June 30, special charges consisted of the following (in millions):


	Three Months Ended June 30,								Six Months Ended June 30,
2012	UAL			United		Continental			UAL			United			Continental
Integration-related costs	$	137		$	98	$	39		$	271		$	169		$	102
Voluntary severance and benefits		76			76		—			125			125			—
(Gains) losses on sale of assets and other special charges, net		(7	)		2		(9	)		(26	)		(22	)		(4	)

Subtotal special charges		206			176		30			370			272			98
Income tax benefit		—			—		—			(2	)		—			(2	)

Total special charges, net of income taxes	$	206		$	176	$	30		$	368		$	272		$	96


2011	UAL			United		Continental			UAL			United			Continental
Integration-related costs	$	145		$	90	$	55		$	224		$	164		$	60
(Gains) losses on aircraft sales		1			—		1			(1	)		—			(1	)

Total	$	146		$	90	$	56		$	223		$	164		$	59

Integration-related costs include compensation costs related to systems integration and training, costs to repaint aircraft and other branding activities, costs to write-off or accelerate depreciation on systems and facilities that are no longer used or planned to be used for significantly shorter periods, relocation costs for employees and severance primarily associated with administrative headcount reductions. In addition, financial triggering events under the 8% Notes indenture occurred at both June 30, 2012 and 2011 and as a result, UAL became obligated to issue one tranche of $62.5 million in aggregate principal amount of the 8% Notes with respect to each of these financial triggering events. The obligation to issue these tranches was recorded at their fair values of $48 million and $49 million as of June 30, 2012 and 2011, respectively. Both obligations described above were recorded as integration-related costs because the financial results of UAL, excluding Continental’s results, would not have resulted in triggering events under the 8% Notes indenture.

During the three and six months ended June 30, 2012, the Company recorded $76 million and $125 million of severance and benefits associated with three voluntary employee programs, respectively. During the first quarter of 2012, approximately 400 mechanics offered to retire early in exchange for a cash severance payment that was based on the number of years of service each employee had accumulated. The Company also offered a voluntary leave of absence program that approximately 1,800 flight attendants accepted, which allows for continued medical coverage during the leave of absence period. During the second quarter of 2012, as part of the recently amended collective bargaining agreement with the Association of Flight Attendants, the Company offered a voluntary program for flight attendants at United to retire early in exchange for a cash severance payment. The payments are dependent on the number of years of service each employee has accumulated. Approximately 1,300 flight attendants accepted this program and the Company estimates the amount for this voluntary program to be approximately $76 million.

In addition, the Company sold nine aircraft during the first six months of 2012, of which three were sold during the second quarter. The Company also made adjustments to certain legal reserves.

The Company expects to consolidate its headquarters facilities by the middle of 2013. During the consolidation process, the Company expects to record special charges for accelerated depreciation and lease expense on unused facilities associated with the facility that it vacates. The Company estimates that these charges will be approximately $60 million to $80 million in total, which are expected to be recorded in late 2012 through 2013.

Accruals

The accrual for severance and medical costs was $153 million, $137 million and $16 million related to UAL, United and Continental, respectively, as of June 30, 2012. In addition, the accrual balance of future lease payments on permanently grounded aircraft was $8 million for both UAL and United as of June 30, 2012.

The severance-related accrual as of June 30, 2012, which primarily relates to the integration of United and Continental, is expected to be paid through 2014. Lease payments for grounded aircraft are expected to continue through 2013.

At June 30, 2011, the accrual balance for severance and medical costs was $70 million, $40 million and $30 million, related to UAL, United and Continental, respectively. In addition, the accrual balance of future lease payments on permanently grounded aircraft was $34 million for both UAL and United as of June 30, 2011.

RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2012

RELATED PARTY TRANSACTIONS

NOTE 11—RELATED PARTY TRANSACTIONS

Intercompany transactions—United and Continental

United and Continental perform services for one another including various aircraft maintenance services and aircraft ground handling at certain airports, and they utilize one management team to oversee the sales and administrative functions of both airlines. For services provided, Continental paid United $268 million and United paid Continental $230 million during the quarter ended June 30, 2012. These payments do not include interline billings, which are common among airlines for transportation-related services. Most of these transactions are routinely settled through the clearing house, which is customarily used in the monthly settlement of such items. Transactions not settled through the clearing house are typically settled in cash on a quarterly basis. As of June 30, 2012, Continental had a net current payable of $2.2 billion to United primarily related to the transfer of the current portion of the frequent flyer liability and the cash transfer from United in conjunction with the conversion to the new passenger service system, as described below. In addition, Continental had a $0.7 billion noncurrent payable to United associated with the transfer of the long-term portion of the frequent flyer liability.

Frequent flyer program transition

In the first quarter of 2012, the Company moved to a single loyalty program. Continental’s loyalty program formally ended in the first quarter of 2012, at which point United automatically enrolled Continental OnePass program members in the MileagePlus program and deposited into those MileagePlus accounts award miles equal to these members’ OnePass award miles balance. In March 2012, the related frequent flyer deferred revenue and advance purchase of miles liabilities for the OnePass program was transferred to United with a corresponding liability recorded by Continental payable to United for assuming the frequent flyer obligations. No gain or loss was incurred from the transaction as the liabilities were transferred at their respective net book value. The obligation associated with this transfer will be settled by Continental through future redemptions by MileagePlus members on Continental operated flights.

Passenger service system and ticket stock integration

In March 2012, Continental and United converted to a single passenger service system, allowing the Company to operate using a single reservations system, carrier code, flight schedule, website and departure control system. In conjunction with the conversion to a single passenger service system, all tickets are now sold by United. As a result, the air traffic liability of Continental is diminishing as tickets previously sold by Continental are used or refunded and United’s advanced ticket sales liability and associated cash receipts from the ticket sales will increase accordingly. Subsequent to the system conversion, United transferred cash to Continental each month, such transfers being netted against amounts owed to Continental for segments flown by Continental on United ticket stock. Revenue will continue to be recorded by the carrier that is operating the flight.

Revenue and expense allocation

In November 2011, the Company received a single operating certificate from the Federal Aviation Administration. The Company plans to merge Continental and United into one legal entity. Once this legal merger occurs, the financial statements of United and Continental will be combined at their historical cost for all periods presented beginning on October 1, 2010, the date on which Continental became a wholly-owned subsidiary of UAL, and there will no longer be a requirement to separately report the historical financial statements of Continental.

Until Continental and United are merged into one legal entity, revenue and expenses will continue to be recorded by each entity based on either specific identification of the related transaction, where applicable, or appropriate allocations based on metrics that are systematic and rational. Certain revenues and expenses that were previously recorded based on a specific identification were allocated in March 2012 in connection with the conversion to a single passenger service system. We believe the allocated amounts will generally be comparable to historical amounts. Each airline will continue to record actual expenses for aircraft that are owned or leased and passenger revenue will be determined on an actual basis for the carrier operating the flight. The table below illustrates a summary of the primary allocation metrics to be used:


Account		Allocation metric between subsidiaries
Operating revenue:
Passenger		Actual ticket revenue based on specifically identified flights operated by each carrier. Frequent flyer component of passenger revenue based on historic revenue passenger miles (“RPMs”) split between carriers. Regional revenue, based on the carrier that contracted with the regional carrier

Cargo		Actual by operating carrier

Other operating		Passenger related based on passenger revenue and other based on passengers enplaned or other similar criteria
Operating expense:
Aircraft fuel		Actual by operating carrier

Salaries and related costs		Actual for operational workgroups and allocation based on historical RPMs for administrative personnel. Profit sharing expense is allocated based on the proportional profit of each operating entity

Regional capacity purchase		Actual based on specific identification of the carrier that contracted with regional carrier for flying

Landing fees and other rent		Allocation based on passengers enplaned

Aircraft maintenance materials and outside repairs		Actual based on the specific identification of each carrier’s aircraft

Depreciation and amortization		Specific identification of carriers’ operational assets (i.e. flight equipment) and intangible assets and allocation based on historical RPMs for other assets

Distribution expenses		Allocation based on passenger revenue

Aircraft rent		Actual based on specific identification of each carrier’s aircraft

Special charges		Specific identification

Other operating expenses		Specific identification where applicable and allocation based on historical RPMs for other

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2012

Computation Of Earnings Per Share


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
UAL basic earnings (loss) per share:
Net income (loss)	$	339		$	538		$	(109	)	$	325
Less: Income allocable to participating securities		(1	)		(2	)		—			(1	)

Earnings (loss) available to common stockholders	$	338		$	536		$	(109	)	$	324

Basic weighted average shares outstanding		331			330			331			329

Earnings (loss) per share, basic	$	1.02		$	1.63		$	(0.33	)	$	0.98


UAL diluted earnings (loss) per share:
Earnings (loss) available to common stockholders	$	338		$	536		$	(109	)	$	324
Effect of UAL 4.5% Senior Limited-Subordination Convertible Notes		2			11			—			—
Effect of Continental 4.5% Convertible Notes		2			2			—			4
Effect of Continental 6% Convertible Junior Subordinated Debentures		3			4			—			—
Effect of UAL 6% Senior Convertible Notes		4			5			—			9

Earnings (loss) available to common stockholders including the effect of dilutive securities	$	349		$	558		$	(109	)	$	337

UAL diluted shares outstanding:
Basic weighted average shares outstanding		331			330			331			329
Effect of stock options		1			1			—			2
Effect of UAL 4.5% Senior Limited-Subordination Convertible Notes		5			13			—			—
Effect of Continental 4.5% Convertible Notes		12			12			—			12
Effect of Continental 6% Convertible Junior Subordinated Debentures		4			4			—			—
Effect of UAL 6% Senior Convertible Notes		40			40			—			40

Diluted weighted average shares outstanding		393			400			331			383

Earnings (loss) per share, diluted	$	0.89		$	1.39		$	(0.33	)	$	0.88

UAL potentially dilutive shares excluded from diluted per share amounts:
Restricted stock and stock options		5			7			7			6
UAL 4.5% Senior Limited-Subordination Convertible Notes		—			—			5			18
Continental 4.5% Convertible Notes		—			—			12			—
Continental 6% Convertible Junior Subordinated Debentures		—			—			4			4
UAL 6% Senior Convertible Notes		—			—			40			—

EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2012

Components Of Net Periodic Benefit Cost

The Company’s net periodic benefit cost includes the following components (in millions):


	Pension Benefits						Other Postretirement Benefits
	Three Months Ended June 30,						Three Months Ended June 30,
	2012			2011			2012			2011
UAL
Service cost	$	25		$	23		$	13		$	12
Interest cost		46			45			32			32
Expected return on plan assets		(35	)		(35	)		(1	)		—
Amortization of unrecognized (gain) loss and prior service cost		6			(7	)		(1	)		(1	)

Net periodic benefit costs	$	42		$	26		$	43		$	43

United
Service cost	$	2		$	2		$	9		$	8
Interest cost		2			3			28			28
Expected return on plan assets		(3	)		(3	)		(1	)		—
Amortization of unrecognized gain and prior service cost		—			(1	)		(1	)		—

Net periodic benefit costs	$	1		$	1		$	35		$	36

Continental
Service cost	$	23		$	21		$	4		$	4
Interest cost		44			42			4			4
Expected return on plan assets		(32	)		(32	)		—			—
Amortization of unrecognized (gain) loss and prior service cost		6			(6	)		—			(1	)

Net periodic benefit costs	$	41		$	25		$	8		$	7


	Pension Benefits						Other Postretirement Benefits
	Six Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
UAL
Service cost	$	50		$	44		$	26		$	24
Interest cost		92			89			63			63
Expected return on plan assets		(70	)		(69	)		(2	)		(1	)
Amortization of unrecognized (gain) loss and prior service cost		11			(12	)		(2	)		(1	)

Net periodic benefit costs	$	83		$	52		$	85		$	85

United
Service cost	$	4		$	3		$	18		$	17
Interest cost		4			5			55			56
Expected return on plan assets		(6	)		(5	)		(2	)		(1	)
Amortization of unrecognized gain and prior service cost		—			(1	)		(2	)		—

Net periodic benefit costs	$	2		$	2		$	69		$	72

Continental
Service cost	$	46		$	41		$	8		$	7
Interest cost		88			84			8			7
Expected return on plan assets		(64	)		(64	)		—			—
Amortization of unrecognized (gain) loss and prior service cost		11			(11	)		—			(1	)

Net periodic benefit costs	$	81		$	50		$	16		$	13

Share-Based Compensation Expense

The table below presents information related to share-based compensation (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Share-based compensation expense (a)	$	11	$	14	$	26	$	27


	June 30, 2012		December 31, 2011
Unrecognized share-based compensation expense	$	47	$	43

(a)	Includes $3 million and $7 million of expense recognized in integration-related costs for the three and six months ended June 30, 2012, respectively. Includes $6 million and $9 million of expense recognized in integration-related costs for the three and six months ended June 30, 2011, respectively.

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2439-114920

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 2
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 4, 7, 16, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis


	June 30, 2012											December 31, 2011
	Total			Level 1		Level 2			Level 3			Total			Level 1		Level 2			Level 3
	UAL
Cash and cash equivalents	$	6,086		$	6,086	$	—		$	—		$	6,246		$	6,246	$	—		$	—
Short-term investments:
Asset-backed securities		522			—		522			—			478			—		478			—
Corporate debt		518			—		518			—			515			—		515			—
Certificates of deposit placed through an account registry service (“CDARS”)		421			—		421			—			355			—		355			—
Auction rate securities		112			—		—			112			113			—		—			113
U.S. government and agency notes		20			—		20			—			22			—		22			—
Other fixed income securities		25			—		25			—			33			—		33			—
Enhanced equipment trust certificates (“EETC”)		63			—		—			63			60			—		—			60
Fuel derivatives, net		(101	)		—		(101	)		—			73			—		73			—
Foreign currency derivatives		—			—		—			—			(1	)		—		(1	)		—
Restricted cash		586			586		—			—			569			569		—			—

	United
Cash and cash equivalents	$	4,076		$	4,076	$	—		$	—		$	3,458		$	3,458	$	—		$	—
Short-term investments:
Asset-backed securities		20			—		20			—			29			—		29			—
Corporate debt		132			—		132			—			138			—		138			—
CDARS		162			—		162			—			87			—		87			—
U.S. government and agency notes		6			—		6			—			5			—		5			—
Other fixed income securities		22			—		22			—			16			—		16			—
EETC		63			—		—			63			60			—		—			60
Fuel derivatives, net		(54	)		—		(54	)		—			44			—		44			—
Restricted cash		445			445		—			—			433			433		—			—

	Continental
Cash and cash equivalents	$	2,004		$	2,004	$	—		$	—		$	2,782		$	2,782	$	—		$	—
Short-term investments:
Asset-backed securities		502			—		502			—			449			—		449			—
Corporate debt		386			—		386			—			377			—		377			—
CDARS		259			—		259			—			268			—		268			—
Auction rate securities		112			—		—			112			113			—		—			113
U.S. government and agency notes		14			—		14			—			17			—		17			—
Other fixed income securities		3			—		3			—			17			—		17			—
Fuel derivatives, net		(47	)		—		(47	)		—			29			—		29			—
Foreign currency derivatives		—			—		—			—			(1	)		—		(1	)		—
Restricted cash		140			140		—			—			135			135		—			—
Convertible debt derivative asset		289			—		—			289			193			—		—			193
Convertible debt option liability		(147	)		—		—			(147	)		(95	)		—		—			(95	)

Activity For "Level Three" Financial Assets And Financial Liabilities

The tables below present disclosures about the activity for “Level 3” financial assets and financial liabilities for the three and six months ended June 30 (in millions):


	Three Months Ended June 30,
	2012				2011
UAL (a)	Auction Rate Securities		EETC		Auction Rate Securities		EETC
Balance at March 31	$	112	$	62	$	120	$	63
Settlements		—		—		—		—
Reported in earnings—unrealized		—		—		1		—
Reported in other comprehensive income		—		1		—		2

Balance at June 30	$	112	$	63	$	121	$	65

(a)	For 2012 and 2011, United’s only Level 3 recurring measurements are the above EETCs.


	Six Months Ended June 30,
	2012						2011
UAL (a)	Auction Rate Securities			EETC			Auction Rate Securities		EETC
Balance at January 1	$	113		$	60		$	119	$	66
Settlements		—			(2	)		—		(2	)
Reported in earnings—unrealized		(1	)		—			1		—
Reported in other comprehensive income		—			5			1		1

Balance at June 30	$	112		$	63		$	121	$	65

(a)	For 2012 and 2011, United’s only Level 3 recurring measurements are the above EETCs.


	Three Months Ended June 30,
	2012							2011
Continental	Auction Rate Securities		Convertible Debt Supplemental Derivative Asset (a)		Convertible Debt Conversion Option Liability (a)			Auction Rate Securities		Convertible Debt Supplemental Derivative Asset (a)			Convertible Debt Conversion Option Liability (a)
Balance at March 31	$	112	$	231	$	(119	)	$	120	$	262		$	(152	)
Sales		—		—		—			—		—			—
Gains (losses):
Reported in earnings—unrealized		—		58		(28	)		1		(11	)		9
Reported in other comprehensive income		—		—		—			—		—			—

Balance at June 30	$	112	$	289	$	(147	)	$	121	$	251		$	(143	)

(a)


	Six Months Ended June 30,
	2012								2011
Continental	Auction Rate Securities			Convertible Debt Supplemental Derivative Asset (a)		Convertible Debt Conversion Option Liability (a)			Auction Rate Securities		Convertible Debt Supplemental Derivative Asset (a)			Convertible Debt Conversion Option Liability (a)
Balance at January 1	$	113		$	193	$	(95	)	$	119	$	286		$	(164	)
Sales		—			—		—			—		—			—
Gains (losses):
Reported in earnings—unrealized		(1	)		96		(52	)		1		(35	)		21
Reported in other comprehensive income		—			—		—			1		—			—

Balance at June 30	$	112		$	289	$	(147	)	$	121	$	251		$	(143	)

(a)

Carrying Values And Estimated Fair Values Of Financial Instruments

The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above as of June 30, 2012 and December 31, 2011 (in millions):


	Fair Value of Debt by Fair Value Hierarchy Level
	June 30, 2012										December 31, 2011
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
UAL debt	$	11,477	$	12,542	$	—	$	7,250	$	5,292	$	11,682	$	11,992	$	—	$	859	$	11,133
United debt		5,531		5,718		—		2,197		3,521		5,745		5,630		—		—		5,630
Continental debt		5,540		5,832		—		4,061		1,771		5,528		5,503		—		—		5,503

Quantitative Information About Level 3 Fair Value Measurements

Quantitative Information About Level 3 Fair Value Measurements as of June 30, 2012 ($ in millions)


Item	Fair Value at June 30, 2012			Valuation Technique	Unobservable Input	Range (Weighted Average)
Auction rate securities	$	112		Discounted Cash Flows	Credit risk premium (a) Illiquidity premium (b) Expected repayments (c)	1% 5% Assumed repayment in years 2013 through 2036

EETC	$	63		Discounted Cash Flows	Structure credit risk (d)	7% - 9% (8%)

Convertible debt derivative asset	$	289		Binomial Lattice Model	Expected volatility (e) Own credit risk (f)	45% - 60% (48%) 7% - 10% (8%)

Convertible debt option liability	$	(147	)	Binomial Lattice Model	Expected volatility (e) Own credit risk (f)	45% - 60% (48%) 7% - 10% (8%)

(a)	Represents the credit risk premium component of the discount rate that the Company has determined market participants would use in pricing the investments.

(b)	Represents the illiquidity premium component of the discount rate that the Company has determined market participants would use in pricing the investments.

(c)	Represents the estimated timing of principal repayments used in the discounted cash flow model.

(d)	Represents the credit risk premium of the EETC structure above the risk-free rate that the Company has determined market participants would use in pricing the instruments.

(e)	Represents the range in volatility estimates that the Company has determined market participants would use when pricing the instruments.

(f)	Represents the range of Company-specific risk adjustments that the Company has determined market participants would use as a model input.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2012

Schedule Of Hedging Activity For Projected Fuel Requirements

As of June 30, 2012, our projected fuel requirements for the remainder of 2012 were hedged as follows:


	Maximum Price					Minimum Price
	% of Expected Consumption			Weighted Average Price (per gallon)		% of Expected Consumption			Weighted Average Price (per gallon)
UAL (a)
Heating oil collars		20	%	$	3.41		20	%	$	2.74
Brent crude oil collars		13			2.74		13			1.93
Diesel fuel collars		9			3.18		9			2.40
Diesel fuel call options		1			3.17		N/A			N/A
Aircraft fuel collars		1			3.00		1			2.35
Aircraft fuel swaps		1			2.72		1			2.72

Total		45	%				44	%

(a)	As of June 30, 2012, UAL had also hedged 15% of projected first half 2013 fuel consumption.

Schedule Of Derivative Instruments

The following tables present information about the financial statement classification of the Company’s derivatives and related gains (losses) (in millions):


		June 30, 2012						December 31, 2011
Derivatives designated as hedges	Balance Sheet Location	UAL		United		Continental		UAL		United		Continental
Assets:
Fuel contracts due within one year	Receivables	$	3	$	2	$	1	$	77	$	48	$	29

Liabilities:
Fuel contracts due within one year	Other Current Liabilities	$	104	$	56	$	48	$	4	$	4	$	—

Schedule Of Gain Loss On Derivative Instruments


	Amount of Loss Recognized in AOCI on Derivatives (Effective portion)						Gain (Loss) Reclassified from AOCI into Income (Fuel Expense)					Amount of Loss Recognized in Income (Ineffective Portion)
	Three Months Ended June 30,						Three Months Ended June 30,					Three Months Ended June 30,
Fuel contracts	2012			2011			2012			2011		2012			2011
UAL	$	(262	)	$	(231	)	$	(38	)	$	278	$	(29	)	$	(34	)
United		(148	)		(149	)		(17	)		213		(16	)		(7	)
Continental		(114	)		(82	)		(21	)		65		(13	)		(27	)


	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective portion)					Gain (Loss) Reclassified from AOCI into Income (Fuel Expense)					Amount of Loss Recognized in Income (Ineffective Portion)
	Six Months Ended June 30,					Six Months Ended June 30,					Six Months Ended June 30,
Fuel contracts	2012			2011		2012			2011		2012			2011
UAL	$	(169	)	$	293	$	(69	)	$	432	$	(4	)	$	(31	)
United		(90	)		236		(32	)		338		(2	)		(5	)
Continental		(79	)		57		(37	)		94		(2	)		(26	)

Schedule Of Derivative Credit Risk And Fair Value

The following table presents information related to the Company’s derivative credit risk as of June 30, 2012 (in millions):


	UAL		United		Continental
Net derivative liability with counterparties	$	101	$	54	$	47
Collateral posted by the Company with its counterparties (a)		61		27		34
Potential loss related to the failure of the Company’s counterparties to perform		—		—		—

(a)

Classified as a current receivable.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Commitments

The table below is also adjusted to include the impact of the resolution between the Company and Boeing in July 2012 relating to compensation in connection with certain Boeing 787 aircraft delivery delays, which contemplates certain adjustments to Continental’s and United’s Boeing 787 purchase agreements.


	In billions
	UAL		United		Continental
Last six months of 2012	$	1.2	$	0.3	$	0.9
2013		1.4		0.4		1.0
2014		1.3		0.6		0.7
2015		2.1		0.8		1.3
2016		2.8		2.0		0.8
After 2016		9.7		7.2		2.5

	$	18.5	$	11.3	$	7.2

SPECIAL ITEMS (Tables)

6 Months Ended

Jun. 30, 2012

One-Time Adjustment to Decrease Frequent Flyer Deferred Revenue and Increase Special Revenue

This modification resulted in the following one-time adjustment to decrease frequent flyer deferred revenue and increase special revenue in accordance with ASU 2009-13 for the three and six months ended June 30, 2011 as follows (in millions):


	UAL		United		Continental
Special revenue item	$	107	$	88	$	19

Components of Special Charges

For the three and six months ended June 30, special charges consisted of the following (in millions):


	Three Months Ended June 30,								Six Months Ended June 30,
2012	UAL			United		Continental			UAL			United			Continental
Integration-related costs	$	137		$	98	$	39		$	271		$	169		$	102
Voluntary severance and benefits		76			76		—			125			125			—
(Gains) losses on sale of assets and other special charges, net		(7	)		2		(9	)		(26	)		(22	)		(4	)

Subtotal special charges		206			176		30			370			272			98
Income tax benefit		—			—		—			(2	)		—			(2	)

Total special charges, net of income taxes	$	206		$	176	$	30		$	368		$	272		$	96


2011	UAL			United		Continental			UAL			United			Continental
Integration-related costs	$	145		$	90	$	55		$	224		$	164		$	60
(Gains) losses on aircraft sales		1			—		1			(1	)		—			(1	)

Total	$	146		$	90	$	56		$	223		$	164		$	59

Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
UAL basic earnings (loss) per share:
Net income (loss)	$ 339	$ 538	$ (109)	$ 325
Less: Income allocable to participating securities	(1)	(2)		(1)
Earnings (loss) available to common stockholders	$ 338	$ 536	$ (109)	$ 324
Basic weighted average shares outstanding	331	330	331	329
Earnings (loss) per share, basic	$ 1.02	$ 1.63	$ (0.33)	$ 0.98
UAL diluted earnings (loss) per share:
Earnings (loss) available to common stockholders	$ 338	$ 536	$ (109)	$ 324
Earnings (loss) available to common stockholders including the effect of dilutive securities	$ 349	$ 558	$ (109)	$ 337
UAL diluted shares outstanding:
Basic weighted average shares outstanding	331	330	331	329
Effect of stock options	1	1		2
Diluted weighted average shares outstanding	393	400	331	383
Earnings (loss) per share, diluted	$ 0.89	$ 1.39	$ (0.33)	$ 0.88
UAL 4.5% Senior Limited-Subordination Convertible Notes
UAL diluted earnings (loss) per share:
Effect of convertible notes on diluted earnings per share, amount	$ 2	$ 11
UAL diluted shares outstanding:
Effect of convertible notes on diluted earnings per share, shares	5	13
UAL potentially dilutive shares excluded from diluted per share amounts:
Potentially dilutive shares excluded from diluted per share amounts			5	18
Continental 4.5% Convertible Notes
UAL diluted earnings (loss) per share:
Effect of convertible notes on diluted earnings per share, amount	$ 2	$ 2		$ 4
UAL diluted shares outstanding:
Effect of convertible notes on diluted earnings per share, shares	12	12		12
UAL potentially dilutive shares excluded from diluted per share amounts:
Potentially dilutive shares excluded from diluted per share amounts			12
Continental 6% Convertible Junior Subordinated Debentures
UAL diluted earnings (loss) per share:
Effect of convertible notes on diluted earnings per share, amount	$ 3	$ 4
UAL diluted shares outstanding:
Effect of convertible notes on diluted earnings per share, shares	4	4
UAL potentially dilutive shares excluded from diluted per share amounts:
Potentially dilutive shares excluded from diluted per share amounts			4	4
UAL 6% Senior Convertible Notes
UAL diluted earnings (loss) per share:
Effect of convertible notes on diluted earnings per share, amount	$ 4	$ 5		$ 9
UAL diluted shares outstanding:
Effect of convertible notes on diluted earnings per share, shares	40	40		40
UAL potentially dilutive shares excluded from diluted per share amounts:
Potentially dilutive shares excluded from diluted per share amounts			40
Restricted Stock And Units And Stock Options
UAL potentially dilutive shares excluded from diluted per share amounts:
Potentially dilutive shares excluded from diluted per share amounts	5	7	7	6

Computation of Earnings Per Share (Parenthetical) (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
UAL 4.5% Senior Limited-Subordination Convertible Notes
Earnings Loss Per Share [Line Items]
Debt instrument convertible effective interest rate	4.50%	4.50%	4.50%	4.50%
Continental 4.5% Convertible Notes
Earnings Loss Per Share [Line Items]
Debt instrument convertible effective interest rate	4.50%	4.50%	4.50%	4.50%
Continental 6% Convertible Junior Subordinated Debentures
Earnings Loss Per Share [Line Items]
Debt instrument convertible effective interest rate	6.00%	6.00%	6.00%	6.00%
UAL 6% Senior Convertible Notes
Earnings Loss Per Share [Line Items]
Debt instrument convertible effective interest rate	6.00%	6.00%	6.00%	6.00%

EARNINGS (LOSS) PER SHARE - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
UAL 6% Senior Convertible Notes
Earnings Loss Per Share [Line Items]
Debt Outstanding	$ 652.0		$ 652.0
Debt instrument convertible effective interest rate	6.00%	6.00%	6.00%	6.00%
Due date of debt instruments	2031		2031
UAL 8% Contingent Senior Notes
Earnings Loss Per Share [Line Items]
Debt Outstanding	$ 125.0		$ 125.0
Debt instrument convertible effective interest rate			8.00%
Obligated to issue an additional Notes	$ 62.5		$ 62.5
Issuance date of additional notes	2013-02		2013-02
UAL 4.5% Senior Limited-Subordination Convertible Notes
Earnings Loss Per Share [Line Items]
Debt Outstanding		$ 726.0		$ 726.0
Debt instrument convertible effective interest rate		4.50%
Due date of debt instruments		2021		2021
Repurchased debt		$ 570.0

INCOME TAXES - Additional Information (Detail)	6 Months Ended
INCOME TAXES - Additional Information (Detail)	Jun. 30, 2012
Income Taxes [Line Items]
Federal statutory income tax rate	35.00%

Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Pension Benefits \| United Continental Holdings Inc
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 25	$ 23	$ 50	$ 44
Interest cost	46	45	92	89
Expected return on plan assets	(35)	(35)	(70)	(69)
Amortization of unrecognized (gain) loss and prior service cost	6	(7)	11	(12)
Net periodic benefit costs	42	26	83	52
Pension Benefits \| United Airlines Inc
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	2	4	3
Interest cost	2	3	4	5
Expected return on plan assets	(3)	(3)	(6)	(5)
Amortization of unrecognized (gain) loss and prior service cost		(1)		(1)
Net periodic benefit costs	1	1	2	2
Pension Benefits \| Continental Airlines Inc
Defined Benefit Plan Disclosure [Line Items]
Service cost	23	21	46	41
Interest cost	44	42	88	84
Expected return on plan assets	(32)	(32)	(64)	(64)
Amortization of unrecognized (gain) loss and prior service cost	6	(6)	11	(11)
Net periodic benefit costs	41	25	81	50
Other Postretirement Benefits \| United Continental Holdings Inc
Defined Benefit Plan Disclosure [Line Items]
Service cost	13	12	26	24
Interest cost	32	32	63	63
Expected return on plan assets	(1)		(2)	(1)
Amortization of unrecognized (gain) loss and prior service cost	(1)	(1)	(2)	(1)
Net periodic benefit costs	43	43	85	85
Other Postretirement Benefits \| United Airlines Inc
Defined Benefit Plan Disclosure [Line Items]
Service cost	9	8	18	17
Interest cost	28	28	55	56
Expected return on plan assets	(1)		(2)	(1)
Amortization of unrecognized (gain) loss and prior service cost	(1)		(2)
Net periodic benefit costs	35	36	69	72
Other Postretirement Benefits \| Continental Airlines Inc
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	4	8	7
Interest cost	4	4	8	7
Amortization of unrecognized (gain) loss and prior service cost		(1)		(1)
Net periodic benefit costs	$ 8	$ 7	$ 16	$ 13

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) shares in Millions, $ in Millions	1 Months Ended		6 Months Ended
	Jul. 31, 2012 USD ($)	Feb. 29, 2012 shares	Jun. 30, 2012 USD ($) Day	Jun. 30, 2011 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of days used to compute performance period average closing price of restricted stock units \| Day			20
Percentage of pre-tax earnings paid for profit sharing plan			15.00%
Share-based compensation program pre-tax profits excluding special items, profit sharing expense and share-based compensation program expense threshold			$ 10
Profit sharing and related payroll tax expense			54	$ 90
Continental Airlines Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer contribution to tax-qualified defined benefit pension plans			$ 75
Subsequent Event \| Continental Airlines Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer contribution to tax-qualified defined benefit pension plans	$ 41
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, award granted \| shares		0.5
Share-Based Compensation, vesting period		3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, award granted \| shares		0.6
Share-Based Compensation, vesting period		3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, award granted \| shares		1.3
Share-Based Compensation, vesting period		3 years
Share-Based Compensation, vesting date		Dec. 31, 2014

Share-Based Compensation Expense (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2012

Jun. 30, 2011

Jun. 30, 2012

Jun. 30, 2011

Dec. 31, 2011

Share-based compensation expense

^[1]

$ 11

$ 14

$ 26

$ 27

Unrecognized share-based compensation expense

$ 47

$ 43

[1]	Includes $3 million and $7 million of expense recognized in integration-related costs for the three and six months ended June 30, 2012, respectively. Includes $6 million and $9 million of expense recognized in integration-related costs for the three and six months ended June 30, 2011, respectively.

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Share-Based Compensation Expense (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Expense recognized in integration-related costs	$ 3	$ 6	$ 7	$ 9

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	$ 112
Convertible Debt Derivative Asset
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	289
Convertible Debt Option Liability
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	(147)
EETC
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	63
United Continental Holdings Inc \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	6,086	$ 6,246
United Continental Holdings Inc \| Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	522	478
United Continental Holdings Inc \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	518	515
United Continental Holdings Inc \| CDARS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	421	355
United Continental Holdings Inc \| Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	112	113
United Continental Holdings Inc \| U.S. Government And Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	20	22
United Continental Holdings Inc \| Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	25	33
United Continental Holdings Inc \| Fuel Derivatives, Net
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fuel derivatives, net	(101)	73
United Continental Holdings Inc \| Foreign Currency Derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Foreign currency derivatives		(1)
United Continental Holdings Inc \| Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Restricted cash	586	569
United Continental Holdings Inc \| EETC
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
EETC	63	60
United Continental Holdings Inc \| Level 1 \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	6,086	6,246
United Continental Holdings Inc \| Level 1 \| Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Restricted cash	586	569
United Continental Holdings Inc \| Level 2 \| Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	522	478
United Continental Holdings Inc \| Level 2 \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	518	515
United Continental Holdings Inc \| Level 2 \| CDARS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	421	355
United Continental Holdings Inc \| Level 2 \| U.S. Government And Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	20	22
United Continental Holdings Inc \| Level 2 \| Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	25	33
United Continental Holdings Inc \| Level 2 \| Fuel Derivatives, Net
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fuel derivatives, net	(101)	73
United Continental Holdings Inc \| Level 2 \| Foreign Currency Derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Foreign currency derivatives		(1)
United Continental Holdings Inc \| Level 3 \| Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	112	113
United Continental Holdings Inc \| Level 3 \| EETC
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
EETC	63	60
United Airlines Inc \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	4,076	3,458
United Airlines Inc \| Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	20	29
United Airlines Inc \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	132	138
United Airlines Inc \| CDARS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	162	87
United Airlines Inc \| U.S. Government And Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	6	5
United Airlines Inc \| Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	22	16
United Airlines Inc \| Fuel Derivatives, Net
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fuel derivatives, net	(54)	44
United Airlines Inc \| Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Restricted cash	445	433
United Airlines Inc \| EETC
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
EETC	63	60
United Airlines Inc \| Level 1 \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	4,076	3,458
United Airlines Inc \| Level 1 \| Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Restricted cash	445	433
United Airlines Inc \| Level 2 \| Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	20	29
United Airlines Inc \| Level 2 \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	132	138
United Airlines Inc \| Level 2 \| CDARS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	162	87
United Airlines Inc \| Level 2 \| U.S. Government And Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	6	5
United Airlines Inc \| Level 2 \| Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	22	16
United Airlines Inc \| Level 2 \| Fuel Derivatives, Net
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fuel derivatives, net	(54)	44
United Airlines Inc \| Level 3 \| EETC
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
EETC	63	60
Continental Airlines Inc \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	2,004	2,782
Continental Airlines Inc \| Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	502	449
Continental Airlines Inc \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	386	377
Continental Airlines Inc \| CDARS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	259	268
Continental Airlines Inc \| Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	112	113
Continental Airlines Inc \| U.S. Government And Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	14	17
Continental Airlines Inc \| Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	3	17
Continental Airlines Inc \| Fuel Derivatives, Net
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fuel derivatives, net	(47)	29
Continental Airlines Inc \| Foreign Currency Derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Foreign currency derivatives		(1)
Continental Airlines Inc \| Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Restricted cash	140	135
Continental Airlines Inc \| Convertible Debt Derivative Asset
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Convertible debt derivative asset	289	193
Continental Airlines Inc \| Convertible Debt Option Liability
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Convertible debt option liability	(147)	(95)
Continental Airlines Inc \| Level 1 \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash and cash equivalents	2,004	2,782
Continental Airlines Inc \| Level 1 \| Restricted Cash
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Restricted cash	140	135
Continental Airlines Inc \| Level 2 \| Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	502	449
Continental Airlines Inc \| Level 2 \| Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	386	377
Continental Airlines Inc \| Level 2 \| CDARS
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	259	268
Continental Airlines Inc \| Level 2 \| U.S. Government And Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	14	17
Continental Airlines Inc \| Level 2 \| Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	3	17
Continental Airlines Inc \| Level 2 \| Fuel Derivatives, Net
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fuel derivatives, net	(47)	29
Continental Airlines Inc \| Level 2 \| Foreign Currency Derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Foreign currency derivatives		(1)
Continental Airlines Inc \| Level 3 \| Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	112	113
Continental Airlines Inc \| Level 3 \| Convertible Debt Derivative Asset
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Convertible debt derivative asset	289	193
Continental Airlines Inc \| Level 3 \| Convertible Debt Option Liability
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Convertible debt option liability	$ (147)	$ (95)

Activity for "Level Three" Financial Assets and Financial Liabilities (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2012

Jun. 30, 2011

Jun. 30, 2012

Jun. 30, 2011

United Continental Holdings Inc | Auction Rate Securities

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[1]

$ 112

$ 120

$ 113

$ 119

Reported in earnings-unrealized

^[1]

(1)

Reported in other comprehensive income

^[1]

Ending Balance

^[1]

112

121

112

121

United Continental Holdings Inc | EETC

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[1]

Settlements

^[1]

(2)

Reported in other comprehensive income

^[1]

Ending Balance

^[1]

Continental Airlines Inc | Auction Rate Securities

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

112

120

113

119

Sales

Reported in earnings-unrealized

(1)

Reported in other comprehensive income

Ending Balance

112

121

112

121

Continental Airlines Inc | Convertible Debt Derivative Asset

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[2]

231

262

193

286

Sales

^[2]

Reported in earnings-unrealized

^[2]

(11)

(35)

Ending Balance

^[2]

289

251

289

251

Continental Airlines Inc | Convertible Debt Option Liability

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[2]

(119)

(152)

(95)

(164)

Sales

^[2]

Reported in earnings-unrealized

^[2]

(28)

(52)

Ending Balance

^[2]

$ (147)

$ (143)

$ (147)

$ (143)

[1]

For 2012 and 2011, United's only Level 3 recurring measurements are the above EETCs.

[2]

These derivatives are not designated as hedges. The Convertible Debt Supplemental Derivative Asset is classified in "Other Asset - Other, net", and the Convertible Debt Conversion Option Liability is classified in "Other liabilities and deferred credits - Other" in Continental's consolidated balance sheets. The earnings impact is classified in "Nonoperating income (expense) - Miscellaneous, net" in Continental's statements of consolidated operations.

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2012 USD ($)
United Airlines Inc \| EETC
Fair Value [Line Items]
Debt instrument, amortized cost basis	$ 64
Investment securities, unrealized gains (losses)	1
Continental Airlines Inc \| Auction Rate Securities
Fair Value [Line Items]
Auction rate securities, par value	135
Debt instrument, amortized cost basis	$ 112
Debt instrument, interest rates reset interval	28 days
Continental Airlines Inc \| Auction Rate Securities \| Minimum
Fair Value [Line Items]
Debt instrument, maturity period	10 years
Debt instrument, interest rates reset interval	7 days
Continental Airlines Inc \| Auction Rate Securities \| Maximum
Fair Value [Line Items]
Debt instrument, interest rates reset interval	35 days

Fair Value Assets Measured on Nonrecurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
United Continental Holdings Inc
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 11,477	$ 11,682
Fair Value	12,542	11,992
United Continental Holdings Inc \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	7,250	859
United Continental Holdings Inc \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	5,292	11,133
United Airlines Inc
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	5,531	5,745
Fair Value	5,718	5,630
United Airlines Inc \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	2,197
United Airlines Inc \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	3,521	5,630
Continental Airlines Inc
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	5,540	5,528
Fair Value	5,832	5,503
Continental Airlines Inc \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	4,061
Continental Airlines Inc \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 1,771	$ 5,503

Quantitative Information About Level 3 Fair Value Measurements (Detail)
$ in Millions

6 Months Ended

Jun. 30, 2012

USD ($)

Auction Rate Securities

Fair Value Measurements [Line Items]

Short-term investments

$ 112

Valuation Technique(s)

Discounted Cash Flows

Unobservable Input

Credit risk premium (a) Illiquidity premium (b) Expected repayments (c)

Level 3 fair value measurements, expected repayments, period

Begin in 2013, end in 2014-2036

^[1]

Auction Rate Securities | Credit Risk Premium

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

1.00%

^[2]

Auction Rate Securities | Illiquidity Premium

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

5.00%

^[3]

EETC

Fair Value Measurements [Line Items]

Short-term investments

$ 63

Valuation Technique(s)

Discounted Cash Flows

Unobservable Input

Structure credit risk (d)

EETC | Structure Credit Risk

Fair Value Measurements [Line Items]

Level 3 fair value measurements, weighted average percentage

8.00%

^[4]

EETC | Structure Credit Risk | Minimum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

7.00%

^[4]

EETC | Structure Credit Risk | Maximum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

9.00%

^[4]

Convertible Debt Derivative Asset

Fair Value Measurements [Line Items]

Short-term investments

$ 289

Valuation Technique(s)

Binomial Lattice Model

Unobservable Input

Expected volatility (e) Own credit risk (f)

Convertible Debt Derivative Asset | Expected Volatility

Fair Value Measurements [Line Items]

Level 3 fair value measurements, weighted average percentage

48.00%

^[5]

Convertible Debt Derivative Asset | Expected Volatility | Minimum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

45.00%

^[5]

Convertible Debt Derivative Asset | Expected Volatility | Maximum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

60.00%

^[5]

Convertible Debt Derivative Asset | Own Credit Risk

Fair Value Measurements [Line Items]

Level 3 fair value measurements, weighted average percentage

8.00%

^[6]

Convertible Debt Derivative Asset | Own Credit Risk | Minimum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

7.00%

^[6]

Convertible Debt Derivative Asset | Own Credit Risk | Maximum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

10.00%

^[6]

Convertible Debt Option Liability

Fair Value Measurements [Line Items]

Short-term investments

$ (147)

Valuation Technique(s)

Binomial Lattice Model

Unobservable Input

Expected volatility (e) Own credit risk (f)

Convertible Debt Option Liability | Expected Volatility

Fair Value Measurements [Line Items]

Level 3 fair value measurements, weighted average percentage

48.00%

^[5]

Convertible Debt Option Liability | Expected Volatility | Minimum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

45.00%

^[5]

Convertible Debt Option Liability | Expected Volatility | Maximum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

60.00%

^[5]

Convertible Debt Option Liability | Own Credit Risk

Fair Value Measurements [Line Items]

Level 3 fair value measurements, weighted average percentage

8.00%

^[6]

Convertible Debt Option Liability | Own Credit Risk | Minimum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

7.00%

^[6]

Convertible Debt Option Liability | Own Credit Risk | Maximum

Fair Value Measurements [Line Items]

Level 3 fair value measurements, percentage

10.00%

^[6]

[1]	Represents the estimated timing of principal repayments used in the discounted cash flow model.
[2]	Represents the credit risk premium component of the discount rate that the Company has determined market participants would use in pricing the investments.
[3]	Represents the illiquidity premium component of the discount rate that the Company has determined market participants would use in pricing the investments.
[4]	Represents the credit risk premium of the EETC structure above the risk-free rate that the Company has determined market participants would use in pricing the instruments.
[5]	Represents the range in volatility estimates that the Company has determined market participants would use when pricing the instruments.
[6]	Represents the range of Company-specific risk adjustments that the Company has determined market participants would use as a model input.

Projected Fuel Requirements (Detail)

Jun. 30, 2012

$ / gal

^[1]

Maximum

Derivative [Line Items]

Percentage of Expected Consumption

45.00%

Minimum

Derivative [Line Items]

Percentage of Expected Consumption

44.00%

Heating Oil Collars

Derivative [Line Items]

Weighted Average Price (per gallon)

3.41

Weighted Average Price (per gallon)

2.74

Heating Oil Collars | Maximum

Derivative [Line Items]

Percentage of Expected Consumption

20.00%

Heating Oil Collars | Minimum

Derivative [Line Items]

Percentage of Expected Consumption

20.00%

Brent Crude Oil Collars

Derivative [Line Items]

Weighted Average Price (per gallon)

2.74

Weighted Average Price (per gallon)

1.93

Brent Crude Oil Collars | Maximum

Derivative [Line Items]

Percentage of Expected Consumption

13.00%

Brent Crude Oil Collars | Minimum

Derivative [Line Items]

Percentage of Expected Consumption

13.00%

Diesel Fuel Collars

Derivative [Line Items]

Weighted Average Price (per gallon)

3.18

Weighted Average Price (per gallon)

2.40

Diesel Fuel Collars | Maximum

Derivative [Line Items]

Percentage of Expected Consumption

9.00%

Diesel Fuel Collars | Minimum

Derivative [Line Items]

Percentage of Expected Consumption

9.00%

Diesel Fuel Call Options

Derivative [Line Items]

Weighted Average Price (per gallon)

3.17

Diesel Fuel Call Options | Maximum

Derivative [Line Items]

Percentage of Expected Consumption

1.00%

Aircraft Fuel Collars

Derivative [Line Items]

Weighted Average Price (per gallon)

3.00

Weighted Average Price (per gallon)

2.35

Aircraft Fuel Collars | Maximum

Derivative [Line Items]

Percentage of Expected Consumption

1.00%

Aircraft Fuel Collars | Minimum

Derivative [Line Items]

Percentage of Expected Consumption

1.00%

Aircraft Fuel Swaps | Maximum

Derivative [Line Items]

Percentage of Expected Consumption

1.00%

Weighted Average Price (per gallon)

2.72

Aircraft Fuel Swaps | Minimum

Derivative [Line Items]

Percentage of Expected Consumption

1.00%

Weighted Average Price (per gallon)

2.72

[1]	As of June 30, 2012, UAL had also hedged 15% of projected first half 2013 fuel consumption.

Projected Fuel Requirements (Parenthetical) (Detail)	3 Months Ended
Projected Fuel Requirements (Parenthetical) (Detail)	Jun. 30, 2012
Derivative [Line Items]
Hedging percentage of fuel consumption	15.00%

Description of Derivative Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
United Continental Holdings Inc
Derivatives, Fair Value [Line Items]
Fuel contracts due within one year, Assets	$ 3	$ 77
Fuel contracts due within one year, Liabilities	104	4
United Airlines Inc
Derivatives, Fair Value [Line Items]
Fuel contracts due within one year, Assets	2	48
Fuel contracts due within one year, Liabilities	56	4
Continental Airlines Inc
Derivatives, Fair Value [Line Items]
Fuel contracts due within one year, Assets	1	$ 29
Fuel contracts due within one year, Liabilities	$ 48

Schedule of Gain Loss on Derivative Instruments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Fuel Expense) (Effective Portion)	$ (38)	$ 278	$ (69)	$ 432
United Continental Holdings Inc
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(262)	(231)	(169)	293
Gain (Loss) Reclassified from AOCI into Income (Fuel Expense) (Effective Portion)	(38)	278	(69)	432
Amount of Gain (Loss) Recognized in Income (Nonoperating Expense) (Ineffective Portion)	(29)	(34)	(4)	(31)
United Airlines Inc
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(148)	(149)	(90)	236
Gain (Loss) Reclassified from AOCI into Income (Fuel Expense) (Effective Portion)	(17)	213	(32)	338
Amount of Gain (Loss) Recognized in Income (Nonoperating Expense) (Ineffective Portion)	(16)	(7)	(2)	(5)
Continental Airlines Inc
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(114)	(82)	(79)	57
Gain (Loss) Reclassified from AOCI into Income (Fuel Expense) (Effective Portion)	(21)	65	(37)	94
Amount of Gain (Loss) Recognized in Income (Nonoperating Expense) (Ineffective Portion)	$ (13)	$ (27)	$ (2)	$ (26)

Schedule of Derivative Credit Risk and Fair Value (Detail)
$ in Millions

Jun. 30, 2012

USD ($)

United Continental Holdings Inc

Derivative [Line Items]

Net derivative liability with counterparties

$ 101

Collateral posted by the Company with its counterparties

^[1]

Potential loss related to the failure of the Company's counterparties to perform

United Airlines Inc

Derivative [Line Items]

Net derivative liability with counterparties

Collateral posted by the Company with its counterparties

^[1]

Potential loss related to the failure of the Company's counterparties to perform

Continental Airlines Inc

Derivative [Line Items]

Net derivative liability with counterparties

Collateral posted by the Company with its counterparties

^[1]

Potential loss related to the failure of the Company's counterparties to perform

[1]	Classified as a current receivable.

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail)	1 Months Ended			6 Months Ended
	Jul. 12, 2012 AirCraft	Nov. 30, 2011 USD ($) Year	May 31, 2011 USD ($)	Jun. 30, 2012 USD ($) Employee AirCraft Year
Commitments and Contingencies [Line Items]
Number of employees \| Employee				88,000
Percentage of employees represented by various U.S. labor organizations				80.00%
United Airlines Inc
Commitments and Contingencies [Line Items]
Guarantor obligations, maximum exposure				$ 270,000,000
Operating leases obligations				$ 270,000,000
United Airlines Inc \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
Number of new aircraft committed to purchase \| AirCraft				100
Number of new aircraft under purchase rights and options \| AirCraft				152
United Airlines Inc \| Capital Addition Purchase Commitments \| Boeing 787
Commitments and Contingencies [Line Items]
Number of aircraft expected to be delivered \| AirCraft				25
United Airlines Inc \| Capital Addition Purchase Commitments \| Airbus A350XWB
Commitments and Contingencies [Line Items]
Number of aircraft expected to be delivered \| AirCraft				25
United Airlines Inc \| Subsequent Event \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
Percentage of lease rates of orders allocated to each subsidiary	50.00%
United Airlines Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
Number of new aircraft committed to purchase \| AirCraft	50
Number of new aircraft under purchase rights and options \| AirCraft	60
Number of aircraft expected to be delivered \| AirCraft	50
United Airlines Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Aircraft
Commitments and Contingencies [Line Items]
Lease expiration period	5 years
Continental Airlines Inc
Commitments and Contingencies [Line Items]
Expected advanced ticket sales				$ 0
Guarantor obligations, maximum exposure				1,700,000,000
Operating leases obligations				1,500,000,000
Capital leases obligations				$ 190,000,000
Continental Airlines Inc \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
Number of new aircraft committed to purchase \| AirCraft				72
Number of new aircraft under purchase rights and options \| AirCraft				89
Continental Airlines Inc \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
Number of new aircraft committed to purchase \| AirCraft				47
Number of aircraft expected to be delivered \| AirCraft				9
Number of aircraft under financing arrangement expected to be delivered \| AirCraft				5
Continental Airlines Inc \| Capital Addition Purchase Commitments \| Boeing 787
Commitments and Contingencies [Line Items]
Number of new aircraft committed to purchase \| AirCraft				25
Number of aircraft expected to be delivered \| AirCraft				5
Number of aircraft under financing arrangement expected to be delivered \| AirCraft				4
Continental Airlines Inc \| Subsequent Event \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
Percentage of lease rates of orders allocated to each subsidiary	50.00%
United Continental Holdings Inc
Commitments and Contingencies [Line Items]
Operating leases obligations				$ 1,800,000,000
Terminal improvement project amount			$ 1,000,000,000
Special facilities revenue bonds		$ 113,000,000
Estimated construction cost		$ 100,000,000
Project demand period that determines construction of the remaining phases, minimum years \| Year		7
Project demand period that determines construction of the remaining phases, maximum years \| Year		10
Commitment capacity available				500,000,000
United Continental Holdings Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
Number of new aircraft committed to purchase \| AirCraft	100
Number of new aircraft under purchase rights and options \| AirCraft	100
Number of aircraft expected to be delivered \| AirCraft	100
United Air Lines Inc and Continental Airline Inc
Commitments and Contingencies [Line Items]
Reserve required under combined credit card processing agreement				25,000,000
Floating Rate Debt \| United Airlines Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				2,000,000,000
Floating Rate Debt \| Continental Airlines Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				498,000,000
Floating Rate Debt \| United Continental Holdings Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				2,500,000,000
Fixed Rate Debt \| United Airlines Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				195,000,000
Fixed Rate Debt \| Continental Airlines Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				181,000,000
Fixed Rate Debt \| United Continental Holdings Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				376,000,000
Loans And Leases From Non U S Entities \| United Airlines Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				2,200,000,000
Loans And Leases From Non U S Entities \| Continental Airlines Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				595,000,000
Loans And Leases From Non U S Entities \| United Continental Holdings Inc
Commitments and Contingencies [Line Items]
Debt instrument principal amount				$ 2,800,000,000
Minimum \| United Airlines Inc \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date				2013
Minimum \| United Airlines Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date	2013
Minimum \| Continental Airlines Inc \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date				2012
New aircraft, scheduled delivery date				Jul. 01, 2012
New aircraft, scheduled delivery date				2012-07
Minimum \| United Continental Holdings Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date	2013
Maximum \| United Airlines Inc \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date				2019
Maximum \| United Airlines Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date	2022
Maximum \| Continental Airlines Inc \| Capital Addition Purchase Commitments
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date				2016
New aircraft, scheduled delivery date				Dec. 31, 2012
New aircraft, scheduled delivery date				2012-12
Maximum \| United Continental Holdings Inc
Commitments and Contingencies [Line Items]
Debt instrument, remaining terms (years) \| Year				10
Maximum \| United Continental Holdings Inc \| Subsequent Event \| Capital Addition Purchase Commitments \| Boeing 737
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date	2022
Bonds \| Minimum \| United Air Lines Inc and Continental Airline Inc
Commitments and Contingencies [Line Items]
Debt instrument, maturity year				2015
Bonds \| Maximum \| United Air Lines Inc and Continental Airline Inc
Commitments and Contingencies [Line Items]
Debt instrument, maturity year				2033

Schedule of Acquisition of Aircrafts and Related Spare Engines (Detail) $ in Billions	Jun. 30, 2012 USD ($)
United Continental Holdings Inc
Commitments and Contingencies Disclosure [Line Items]
Last six months of 2012	$ 1.2
2013	1.4
2014	1.3
2015	2.1
2016	2.8
After 2016	9.7
Total commitments	18.5
United Airlines Inc
Commitments and Contingencies Disclosure [Line Items]
Last six months of 2012	0.3
2013	0.4
2014	0.6
2015	0.8
2016	2.0
After 2016	7.2
Total commitments	11.3
Continental Airlines Inc
Commitments and Contingencies Disclosure [Line Items]
Last six months of 2012	0.9
2013	1.0
2014	0.7
2015	1.3
2016	0.8
After 2016	2.5
Total commitments	$ 7.2

DEBT - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
DEBT - Additional Information (Detail) $ in Millions	Jun. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2011 USD ($)	Mar. 31, 2012 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		$ 86.0	$ 142.0
UAL 8% Contingent Senior Notes
Debt Instrument [Line Items]
UAL's obligation to issue notes to the PBGC, principal	$ 500.0	$ 500.0
Debt instrument convertible effective interest rate		8.00%	8.00%	8.00%
Issuance of senior notes equal tranches	$ 62.5	$ 62.5		$ 62.5
Number of tranches issued	1	1	1	2
Present value of obligation recorded as liability	$ 48.0	$ 48.0	$ 49.0	$ 88.0
Continental Airlines Inc
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		$ 86.0	$ 142.0
Continental Airlines Inc \| Class A Pass Through Certificates
Debt Instrument [Line Items]
Aggregate principal amount trusts issued					$ 753.0
Debt instrument stated interest rate					4.15%
Continental Airlines Inc \| Class B Pass Through Certificates
Debt Instrument [Line Items]
Aggregate principal amount trusts issued					$ 139.0
Debt instrument stated interest rate					6.25%
Continental Airlines Inc \| Class A Pass Through Certificates and Class B Pass Through Certificates
Debt Instrument [Line Items]
Aggregate principal amount trusts issued					$ 892.0
Proceeds from issuance of long-term debt	$ 392.0

One-Time Adjustment to Decrease Frequent Flyer Deferred Revenue and Increase Special Revenue (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2011
Special Charges [Line Items]
Special revenue item	$ 107	$ 107
United Continental Holdings Inc
Special Charges [Line Items]
Special revenue item	107	107
United Airlines Inc
Special Charges [Line Items]
Special revenue item	88	88
Continental Airlines Inc
Special Charges [Line Items]
Special revenue item	$ 19	$ 19

Components Of Special Charges (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Special Charges [Line Items]
Voluntary severance and benefits	$ 76		$ 125
Subtotal special charges	206	$ 146	370	$ 223
United Continental Holdings Inc
Special Charges [Line Items]
Integration-related costs	137	145	271	224
Voluntary severance and benefits	76		125
(Gains) losses on aircraft sales		1		(1)
(Gains) losses on sale of assets and other special charges, net	(7)		(26)
Subtotal special charges	206	146	370	223
Income tax benefit			(2)
Total special charges, net of income taxes	206		368
United Airlines Inc
Special Charges [Line Items]
Integration-related costs	98	90	169	164
Voluntary severance and benefits	76		125
(Gains) losses on sale of assets and other special charges, net	2		(22)
Subtotal special charges	176	90	272	164
Total special charges, net of income taxes	176		272
Continental Airlines Inc
Special Charges [Line Items]
Integration-related costs	39	55	102	60
(Gains) losses on aircraft sales		1		(1)
(Gains) losses on sale of assets and other special charges, net	(9)		(4)
Subtotal special charges	30	$ 56	98	$ 59
Income tax benefit			(2)
Total special charges, net of income taxes	$ 30		$ 96

SPECIAL ITEMS - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2012 USD ($) AirCraft Attendant	Mar. 31, 2012	Jun. 30, 2012 USD ($) AirCraft	Jun. 30, 2011 USD ($)	Dec. 31, 2011 USD ($)
Special Charges [Line Items]
Severance and benefits	$ 76.0		$ 125.0
Number of mechanics offering to retire early		400
Number of flight attendants voluntarily on leave		1,800
Number of flight attendants accepted voluntarily retirement \| Attendant	1,300
Number of aircraft sold \| AirCraft	3		9
Minimum
Special Charges [Line Items]
Accounting charges for facility consolidation			$ 60.0
Maximum
Special Charges [Line Items]
Accounting charges for facility consolidation			$ 80.0
UAL 8% Contingent Senior Notes
Special Charges [Line Items]
Debt instrument convertible effective interest rate			8.00%	8.00%	8.00%
Issuance Of Senior Notes Equal Tranches	$ 62.5		$ 62.5	$ 62.5
Number of tranches issued	1		1	1	2
Present value of obligation recorded as liability	$ 48.0		$ 48.0	$ 49.0	$ 88.0
United Continental Holdings Inc
Special Charges [Line Items]
Severance and benefits	76.0		125.0
Accrual severance and medical costs	153.0		153.0	70.0
Accrual balance of future lease	8.0		8.0	34.0
United Airlines Inc
Special Charges [Line Items]
Severance and benefits	76.0		125.0
Accrual severance and medical costs	137.0		137.0	40.0
Accrual balance of future lease	8.0		$ 8.0	$ 34.0
United Airlines Inc \| UAL 8% Contingent Senior Notes
Special Charges [Line Items]
Debt instrument convertible effective interest rate			8.00%	8.00%
Continental Airlines Inc
Special Charges [Line Items]
Accrual severance and medical costs	$ 16.0		$ 16.0	$ 30.0

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Continental Airlines Inc
Related Party Transaction [Line Items]
Payment to related parties	$ 268
Net current payables to related parties	2,210	$ 11
Non-current payables to related parties	729
United Airlines Inc
Related Party Transaction [Line Items]
Payment to related parties	230
Net current payables to related parties	$ 104	$ 104

- Definition

Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- Definition

Amount of receivables owed to an entity that is affiliated with the reporting entity by means of direct or indirect ownership, which are usually due after one year (or one business cycle, if longer).

+ References + Details