View Filing Data

$ 11,003

$ 9,899

^[1]

$ 30,812

$ 28,333

^[2]

Operating expense:

Regional capacity purchase

2,930

2,785

^[2]

8,534

8,263

^[2]

Aircraft fuel

2,572

1,809

^[2]

6,927

5,038

^[2]

663

567

^[2]

1,963

1,652

^[2]

Landing fees and other rent

596

585

^[2]

1,757

1,670

^[2]

Depreciation and amortization

564

556

^[2]

1,662

1,610

^[2]

Aircraft maintenance materials and outside repairs

455

451

^[2]

1,333

1,377

^[2]

Special charges (Note 10)

427

377

^[2]

1,162

1,081

^[2]

Aircraft rent

109

145

^[2]

355

476

^[2]

^[2]

186

145

^[2]

1,467

1,436

^[2]

4,293

4,126

^[2]

9,800

8,761

^[2]

28,172

25,438

^[2]

1,203

1,138

^[2]

2,640

2,895

^[2]

Nonoperating income (expense):

(187)

(169)

^[2]

(540)

(498)

^[2]

Interest capitalized

^[2]

Interest income

^[2]

(1)

(13)

^[2]

(119)

(82)

^[2]

(142)

(145)

^[2]

(538)

(475)

^[2]

1,061

993

^[2]

2,102

2,420

^[2]

225

348

^[2]

435

855

^[2]

$ 836

$ 645

^[2],[3]

$ 1,667

$ 1,565

^[2],[3]

$ 3.07

$ 2.15

^[2]

$ 6.02

$ 5.10

^[2]

$ 3.06

$ 2.15

^[2]

$ 5.99

$ 5.09

^[2]

$ 11,003

$ 9,899

^[1]

$ 30,812

$ 28,333

^[2]

Operating expense:

Regional capacity purchase

2,930

2,785

^[1]

8,534

8,263

^[2]

Aircraft fuel

2,572

1,809

^[1]

6,927

5,038

^[2]

663

567

^[1]

1,963

1,652

^[2]

Landing fees and other rent

596

585

^[1]

1,757

1,670

^[2]

Depreciation and amortization

564

556

^[1]

1,662

1,610

^[2]

Aircraft maintenance materials and outside repairs

455

451

^[1]

1,333

1,377

^[2]

Special charges (Note 10)

427

377

^[1]

1,162

1,081

^[2]

Aircraft rent

109

145

^[1]

355

476

^[2]

^[1]

186

145

^[2]

1,467

1,435

^[1]

4,292

4,124

^[2]

9,800

8,760

^[1]

28,171

25,436

^[2]

1,203

1,139

^[1]

2,641

2,897

^[2]

Nonoperating income (expense):

(187)

(169)

^[1]

(540)

(498)

^[2]

Interest capitalized

^[1]

^[2]

Interest income

^[1]

^[2]

(13)

^[1]

(119)

(82)

^[2]

(141)

(145)

^[1]

(538)

(475)

^[2]

1,062

994

^[1]

2,103

2,422

^[2]

225

348

^[1]

435

856

^[2]

837

646

^[1],[4]

1,668

1,566

^[1],[4]

Passenger revenue | United Airlines, Inc.

10,120

9,069

^[1]

28,150

25,873

^[2]

10,120

9,069

^[1]

28,150

25,873

^[2]

Cargo

Cargo | United Airlines, Inc.

296

279

^[1]

903

790

^[2]

296

279

^[1]

903

790

^[2]

Other operating revenue

Other operating revenue | United Airlines, Inc.

587

551

^[1]

1,759

1,670

^[2]

$ 587

$ 551

^[1]

$ 1,759

$ 1,670

^[2]

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[3]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[4]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Statements of Consolidated Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Other comprehensive income (loss), net change related to:

$ 836

$ 645

^[1],[2]

$ 1,667

$ 1,565

^[1],[2]

Employee benefit plans, net of taxes

^[2]

(1)

^[2]

Investments and other, net of taxes

^[2]

Total comprehensive income, net

^[2]

849

665

^[2]

1,725

1,570

^[2]

Other comprehensive income (loss), net change related to:

837

646

^[3],[4]

1,668

1,566

^[3],[4]

Employee benefit plans, net of taxes

^[4]

(1)

^[4]

Investments and other, net of taxes

^[4]

Total comprehensive income, net

^[4]

$ 850

$ 666

^[4]

$ 1,726

$ 1,571

^[4]

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[3]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[4]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions

Sep. 30, 2018

Dec. 31, 2017

Receivables, less allowance for doubtful accounts (2018 — $6; 2017 — $7)

$ 2,621

$ 1,482

^[1]

Short-term investments

2,314

2,316

^[1]

1,752

1,340

^[1]

Aircraft fuel, spare parts and supplies, less obsolescence allowance (2018 — $396; 2017 — $354)

1,011

924

^[1]

973

1,071

^[1]

8,671

7,133

^[1]

Owned—

30,516

28,692

^[1]

Total owned property and equipment

7,765

6,946

^[1]

38,281

35,638

^[1]

Less — Accumulated depreciation and amortization

(12,487)

(11,159)

^[1]

Total owned property and equipment, net

25,794

24,479

^[1]

Purchase deposits for flight equipment

1,101

1,344

^[1]

Capital leases—

1,221

1,151

^[1]

Less — Accumulated amortization

^[1]

Total capital leases

1,244

1,162

^[1]

(831)

(777)

^[1]

Total capital leases, net

413

385

^[1]

Total operating property and equipment, net

27,308

26,208

^[1]

Intangibles, less accumulated amortization (2018 — $1,363; 2017 — $1,313)

Goodwill

4,523

^[1]

3,382

3,539

^[1]

Investments in affiliates and other, net

105

^[1]

848

852

^[1]

Total other assets

8,858

9,005

^[1]

44,837

42,346

^[1]

Current liabilities:

5,193

3,940

^[1]

Accounts payable

2,581

2,196

^[1]

Accrued salaries and benefits

2,275

2,192

^[1]

2,004

2,166

^[1]

Current maturities of long-term debt

910

1,565

^[1]

Current maturities of capital leases

136

128

^[1]

585

576

^[1]

Long-term obligations under capital leases

13,684

12,763

^[1]

Long-term debt

12,218

11,703

^[1]

1,116

996

^[1]

Other liabilities and deferred credits:

Postretirement benefit liability

2,712

2,591

^[1]

1,577

1,602

^[1]

Pension liability

1,611

1,921

^[1]

Lease fair value adjustment, net

639

204

^[1]

198

^[1]

1,729

1,634

^[1]

Commitments and contingencies

8,350

8,150

^[1]

Stockholders' equity:

Preferred stock

^[1]

Common stock

^[1]

Additional capital invested

6,105

6,098

^[1]

Stock held in treasury, at cost

6,203

4,549

^[1]

(1,753)

(769)

^[1]

Accumulated other comprehensive loss

(1,089)

(1,147)

^[1]

9,469

8,734

^[1]

44,837

42,346

^[1]

Receivables, less allowance for doubtful accounts (2018 — $6; 2017 — $7)

2,615

1,476

^[2]

Short-term investments

2,314

2,316

^[2]

1,752

1,340

^[2]

Aircraft fuel, spare parts and supplies, less obsolescence allowance (2018 — $396; 2017 — $354)

1,011

924

^[2]

973

1,071

^[2]

8,665

7,127

^[2]

Owned—

30,516

28,692

^[2]

Total owned property and equipment

7,765

6,946

^[2]

38,281

35,638

^[2]

Less — Accumulated depreciation and amortization

(12,487)

(11,159)

^[2]

Total owned property and equipment, net

25,794

24,479

^[2]

Purchase deposits for flight equipment

1,101

1,344

^[2]

Capital leases—

1,221

1,151

^[2]

Less — Accumulated amortization

^[2]

Total capital leases

1,244

1,162

^[2]

(831)

(777)

^[2]

Total capital leases, net

413

385

^[2]

Total operating property and equipment, net

27,308

26,208

^[2]

Intangibles, less accumulated amortization (2018 — $1,363; 2017 — $1,313)

Goodwill

4,523

^[2]

3,382

3,539

^[2]

Investments in affiliates and other, net

105

^[2]

849

852

^[2]

Total other assets

8,859

9,005

^[2]

44,832

42,340

^[2]

Current liabilities:

5,193

3,940

^[2]

Accounts payable

2,581

2,196

^[2]

Accrued salaries and benefits

2,275

2,192

^[2]

2,004

2,166

^[2]

Current maturities of long-term debt

910

1,565

^[2]

Current maturities of capital leases

136

128

^[2]

590

581

^[2]

Long-term obligations under capital leases

13,689

12,768

^[2]

Long-term debt

12,218

11,703

^[2]

1,116

996

^[2]

Other liabilities and deferred credits:

Postretirement benefit liability

2,712

2,591

^[2]

1,577

1,602

^[2]

Pension liability

1,611

1,921

^[2]

Lease fair value adjustment, net

666

231

^[2]

198

^[2]

1,729

1,634

^[2]

Commitments and contingencies

8,377

8,177

^[2]

Stockholders' equity:

Common stock

^[2]

Additional capital invested

822

1,787

^[2]

Accumulated other comprehensive loss

9,807

8,146

^[2]

(1,089)

(1,147)

^[2]

Receivable from related parties

(108)

(90)

^[2]

9,432

8,696

^[2]

Cash Flows from Operating Activities:

$ 44,832

$ 42,340

^[2]

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Receivables, allowance for doubtful accounts	$ 6	$ 7
Aircraft fuel, spare parts and supplies, obsolescence allowance	396	354
Intangibles, accumulated amortization	$ 1,363	$ 1,313
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, authorized	1,000,000,000	1,000,000,000
Common shares, outstanding	272,464,412	286,973,195
United Airlines, Inc.
Receivables, allowance for doubtful accounts	$ 6	$ 7
Aircraft fuel, spare parts and supplies, obsolescence allowance	396	354
Intangibles, accumulated amortization	$ 1,363	$ 1,313
Common stock, par value (in dollars per share)	$ 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

Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Net cash provided by operating activities

$ 5,080

$ 2,685

Cash Flows from Investing Activities:

Capital expenditures

(2,592)

(2,900)

Purchases of short-term and other investments

(1,975)

(2,584)

Proceeds from sale of short-term and other investments

1,979

2,380

Investment in affiliates

(139)

Proceeds from sale of property and equipment

Net cash used in investing activities

142

(2,603)

(2,954)

Cash Flows from Financing Activities:

Proceeds from issuance of long-term debt and airport construction financing

1,332

2,119

Repurchases of common stock

(1,010)

(1,291)

Payments of long-term debt

(1,519)

(722)

Principal payments under capital leases

(98)

(84)

Net cash used in financing activities

(47)

(77)

(1,342)

(55)

Net increase (decrease) in cash, cash equivalents and restricted cash

1,135

(324)

Cash, cash equivalents and restricted cash at beginning of the period

1,591

2,303

Cash, cash equivalents and restricted cash at end of the period

^[1]

2,726

1,979

Investing and Financing Activities Not Affecting Cash:

Property and equipment acquired through the issuance of debt and capital leases

139

918

Airport construction financing

Operating lease conversions to capital lease

Cash Flows from Operating Activities:

Net cash provided by operating activities

5,063

2,671

Cash Flows from Investing Activities:

Capital expenditures

(2,592)

(2,900)

Purchases of short-term investments and other investments

(1,975)

(2,584)

Proceeds from sale of short-term and other investments

1,979

2,380

Investment in affiliates

(139)

Proceeds from sale of property and equipment

Net cash used in investing activities

142

(2,603)

(2,954)

Cash Flows from Financing Activities:

Proceeds from issuance of long-term debt and airport construction financing

1,332

2,119

Dividend to UAL

(1,010)

(722)

Payments of long-term debt

(1,519)

(1,291)

Principal payments under capital leases

(98)

(84)

Net cash used in financing activities

(30)

(63)

(1,325)

(41)

Net increase (decrease) in cash, cash equivalents and restricted cash

1,135

(324)

Cash, cash equivalents and restricted cash at beginning of the period

1,585

2,297

Cash, cash equivalents and restricted cash at end of the period

^[2]

2,720

1,973

Investing and Financing Activities Not Affecting Cash:

Property and equipment acquired through the issuance of debt and capital leases

139

918

Airport construction financing

Operating lease conversions to capital lease

$ 52

$ 0

[1]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:Reconciliation of cash, cash equivalents and restricted cash: Current assets: Cash and cash equivalents$2,621 $1,870Restricted cash included in Prepaid expenses and other— 13Other assets: Restricted cash105 96Total cash, cash equivalents and restricted cash $2,726 $1,979

[2]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:Reconciliation of cash, cash equivalents and restricted cash: Current assets: Cash and cash equivalents$2,615 $1,864Restricted cash included in Prepaid expenses and other— 13Other assets: Restricted cash105 96Total cash, cash equivalents and restricted cash $2,720 $1,973

Statements of Consolidated Cash Flows (Parenthetical) - USD ($)
$ in Millions

Sep. 30, 2018

Dec. 31, 2017

Sep. 30, 2017

Restricted cash included in Prepaid expenses and other

$ 2,621

$ 1,482

^[1]

$ 1,870

Total cash, cash equivalents and restricted cash

105

^[1]

2,726

^[2]

1,591

1,979

^[2]

Restricted cash included in Prepaid expenses and other

2,615

1,476

^[3]

1,864

Total cash, cash equivalents and restricted cash

105

^[3]

$ 2,720

^[4]

$ 1,585

$ 1,973

^[4]

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:Reconciliation of cash, cash equivalents and restricted cash: Current assets: Cash and cash equivalents$2,621 $1,870Restricted cash included in Prepaid expenses and other— 13Other assets: Restricted cash105 96Total cash, cash equivalents and restricted cash $2,726 $1,979
[3]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[4]	The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheet:Reconciliation of cash, cash equivalents and restricted cash: Current assets: Cash and cash equivalents$2,615 $1,864Restricted cash included in Prepaid expenses and other— 13Other assets: Restricted cash105 96Total cash, cash equivalents and restricted cash $2,720 $1,973

Recently Issued Accounting Standards

9 Months Ended

Sep. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recently Issued Accounting Standards

RECENTLY ISSUED ACCOUNTING STANDARDS

The Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (the "New Revenue Standard"), effective January 1, 2018 using the full-retrospective method. Topic 606 prescribes that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For the Company, the most significant impact of the standard is the reclassification of certain ancillary fees from other operating revenue into passenger revenue on the statement of consolidated operations. These ancillary fees are directly related to passenger travel, such as ticket change fees and baggage fees, and are no longer considered distinct performance obligations separate from the passenger travel component. In addition, the ticket change fees, which were previously recognized when received, are now recognized when transportation is provided. Adoption of the standard had no impact on the Company's consolidated cash flows statements.

The Company adopted Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (the "New Retirement Standard"), effective January 1, 2018 using the full-retrospective method. The New Retirement Standard requires employers to present the service cost component of the net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost, including interest cost, expected return on plan assets, amortization of prior service cost/credit and actuarial gain/loss, and settlement and curtailment effects, are to be presented outside of any subtotal of operating income. The Company elected to apply the practical expedient and use the amounts disclosed in Note 5 to the financial statements included in Part I, Item 1 of the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2017 as the estimation basis for applying the retrospective presentation requirements of the standard.

The new standards had the same impact on the financial statements of United as they had on the financial statements of UAL. The table below presents the impact of the adoption of the New Revenue Standard and the New Retirement Standard on select accounts and captions of the statement of consolidated operations for the three months ended September 30, 2017 (in millions, except per share amounts):



	Three Months Ended September 30, 2017
	As Previously Reported			New Revenue Standard Adjustments			New Retirement Standard Adjustments			As Adjusted
Passenger revenue	$	8,528		$	541		$	—		$	9,069
Cargo	257			22			—			279
Other operating revenue	1,093			(542		)	—			551
Total operating revenue	9,878			21			—			9,899

Salaries and related costs	2,812			—			(27		)	2,785
Distribution expenses	352			25			—			377
Other operating expenses	1,459			(23		)	—			1,436
Total operating expenses	8,786			2			(27		)	8,761

Operating income	1,092			19			27			1,138

Interest expense	(164		)	(5		)	—			(169		)
Miscellaneous, net	15			(1		)	(27		)	(13		)
Total nonoperating expense, net	(112		)	(6		)	(27		)	(145		)

Income before income taxes	980			13			—			993
Income tax expense	343			5			—			348
Net income	637			8			—			645

Earnings per share, basic	2.12			0.03			—			2.15
Earnings per share, diluted	2.12			0.03			—			2.15

The table below presents the impact of the adoption of the New Revenue Standard and the New Retirement Standard on select accounts and captions of the statement of consolidated operations for the nine months ended September 30, 2017 (in millions, except per share amounts):



	Nine Months Ended September 30, 2017
	As Previously Reported			New Revenue Standard Adjustments			New Retirement Standard Adjustments			As Adjusted
Passenger revenue	$	24,324		$	1,549		$	—		$	25,873
Cargo	731			59			—			790
Other operating revenue	3,243			(1,573		)	—			1,670
Total operating revenue	28,298			35			—			28,333

Salaries and related costs	8,341			—			(78		)	8,263
Distribution expenses	1,021			60			—			1,081
Other operating expenses	4,199			(73		)	—			4,126
Total operating expenses	25,529			(13		)	(78		)	25,438

Operating income	2,769			48			78			2,895

Interest expense	(472		)	(26		)	—			(498		)
Miscellaneous, net	(3		)	(1		)	(78		)	(82		)
Total nonoperating expense, net	(370		)	(27		)	(78		)	(475		)

Income before income taxes	2,399			21			—			2,420
Income tax expense	848			7			—			855
Net income	1,551			14			—			1,565

Earnings per share, basic	5.06			0.04			—			5.10
Earnings per share, diluted	5.04			0.05			—			5.09

The table below presents the impact of the adoption of the New Revenue Standard on UAL's balance sheet accounts and captions as of December 31, 2017 (in millions):



	At December 31, 2017
	As Previously Reported		New Revenue Standard Adjustments		As Adjusted
Prepaid expenses and other	$	1,051	$	20	$	1,071
Total current assets	7,113		20		7,133
Total assets	42,326		20		42,346



Advance ticket sales	3,876	64		3,940
Frequent flyer deferred revenue	2,176	16		2,192
Other	569	7		576
Total current liabilities	12,676	87		12,763

Frequent flyer deferred revenue - long-term	2,565	26		2,591
Deferred income taxes	225	(21	)	204
Total other liabilities and deferred credits	8,145	5		8,150

Retained earnings	4,621	(72	)	4,549
Total stockholders' equity	8,806	(72	)	8,734
Total liabilities and stockholders' equity	42,326	20		42,346

The Company adopted Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10) effective January 1, 2018. This standard makes several changes, including the elimination of the available-for-sale classification of equity investments, and requires equity investments with readily determinable fair values to be measured at fair value with changes in fair value recognized in earnings. The Company reclassified to retained earnings $7 million of unrealized loss on the Company's investment in Azul, S.A. ("Azul") which was previously classified as an available-for-sale security. See Notes 4 and 7 to the financial statements included in this Part I, Item 1 for additional information.

Accounting for Leases. In February 2016, the FASB amended the FASB Accounting Standards Codification and created a new Topic 842, Leases (the "New Lease Standard"). The guidance requires lessees to recognize a right-of-use asset and a lease liability for all leases (with the exception of short-term leases) at the commencement date and recognize expenses on their income statements similar to the current Topic 840, Leases. The New Lease Standard is effective for fiscal years and interim periods beginning after December 15, 2018. We will adopt this standard effective January 1, 2019. We have not finalized our assessment but believe this standard will have a significant impact on our consolidated balance sheets. The standard is not expected to have a material impact on the Company's results of operations or cash flows. The primary effect of adopting the New Lease Standard will be to record assets and obligations for our operating leases.

Revenue

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Accumulated Other Comprehensive Income (Loss)

REVENUE

The Company presents Passenger revenue, Cargo revenue and Other operating revenue on its income statement. Passenger revenue is recognized when transportation is provided and Cargo revenue is recognized when shipments are delivered. Other operating revenue is recognized as the related performance obligations are satisfied.

The Company sells passenger ticket and related ancillary services for mainline and regional flights primarily via credit cards with payments collected by the Company in advance of the performance of related services. The Company initially records ticket sales in its Advance ticket sales liability, deferring revenue recognition until the travel occurs. For travel that has more than one flight segment, the Company deems each segment as a separate performance obligation and recognizes revenue for each segment as travel occurs. Tickets sold by other airlines where the Company provides the transportation are recognized as passenger revenue at the estimated value to be billed to the other airline when travel is provided. Differences between amounts billed and the actual amounts may be rejected and rebilled or written off if the amount recorded was different from the original estimate. When necessary, the Company records a reserve against its billings and payables with other airlines based on historical experience.

The Company sells certain tickets with connecting flights with one or more segments operated by its other airline partners. For segments operated by its other airline partners, the Company has determined that it is acting as an agent on behalf of the other airlines as they are responsible for their portion of the contract (i.e. transportation of the passenger). The Company, as the agent, recognizes revenue within Other operating revenue at the time of the travel for the net amount representing commission to be retained by the Company for any segments flown by other airlines.

Refundable tickets expire after one year from the date of issuance. Non-refundable tickets generally expire on the date of the intended travel, unless the date is extended by notification from the customer on or before the intended travel date.

The Company records breakage revenue on the travel date for its estimate of tickets that will expire unused. To determine breakage, the Company uses its historical experience with refundable and nonrefundable expired tickets and other facts, such as recent aging trends, program changes and modifications that could affect the ultimate expiration patterns of tickets. Fees charged in association with changes or extensions to non-refundable tickets are considered part of the Company's passenger travel obligation. As such, those fees are deferred at the time of collection and recognized at the time the travel is provided.

United initially capitalizes the costs of selling airline travel tickets and then recognizes those costs as Distribution expense at the time of travel. Passenger ticket costs include credit card fees, travel agency and other commissions paid, as well as global distribution systems booking fees.

Ticket Taxes. Certain governmental taxes are imposed on the Company's ticket sales through a fee included in ticket prices. The Company collects these fees and remits them to the appropriate government agency. These fees are recorded on a net basis and, as a result, are excluded from revenue.

Accounts Receivable. Accounts receivable primarily consist of amounts due from credit card companies, non-airline partners, and cargo transportation customers. We provide an allowance for uncollectible accounts equal to the estimated losses expected to be incurred based on historical write-offs and other specific analyses. Bad debt expense and write-offs were not material for the three and nine months ended September 30, 2018 and 2017.

Advance Ticket Sales. Advance ticket sales represent the Company's liability to provide air transportation in the future. In the three and nine months ended September 30, 2018, the Company recognized approximately $3.2 billion and $2.3 billion, respectively, and in the three and nine months ended September 30, 2017, the Company recognized approximately $2.9 billion and $2.3 billion respectively, of passenger revenue for tickets that were included in Advance ticket sales at the beginning of those periods. All tickets sold at any given point of time have travel dates extending up to twelve months. As a result, the balance of the Company's Advance ticket sales liability represents activity that will be recognized in the next twelve months.

Frequent Flyer Accounting. United's MileagePlus program builds customer loyalty by offering awards, benefits and services to program participants. Members in this program earn miles for travel on United, United Express, Star Alliance members and certain other airlines that participate in the program. Members can also earn miles by purchasing the goods and services of our network of non-airline partners. We have contracts to sell miles to these partners with the terms extending from one to eight years. These partners include domestic and international credit card issuers, retail merchants, hotels, car rental companies and our participating airline partners. Miles can be redeemed for free (other than taxes and government imposed fees), discounted or upgraded air travel and non-travel awards. Miles expire after 18 months of member account inactivity.

Miles Earned in Conjunction with Travel. When frequent flyers earn miles for flights, the Company recognizes a portion of the ticket sales as revenue when the travel occurs and defers a portion of the ticket sale representing the value of the related miles as a separate performance obligation. The Company determines the estimated selling price of travel and miles as if each element is sold on a separate basis. The total consideration from each ticket sale is then allocated to each of these elements, individually, on a pro rata basis. At the time of travel, the Company records the portion allocated to the miles to Frequent flyer deferred revenue on the Company's consolidated balance sheet and subsequently recognizes it into revenue when miles are redeemed for air travel and non-air travel awards.

The Company's estimated selling price of miles is based on an equivalent ticket value less breakage, which incorporates the expected redemption of miles, as the best estimate of selling price for these miles. The equivalent ticket value is based on the prior 12 months' weighted average equivalent ticket value of similar fares as those used to settle award redemptions while taking into consideration such factors as redemption pattern, cabin class, loyalty status and geographic region. The estimated selling price of miles is adjusted by breakage that considers a number of factors, including redemption patterns of various customer groups. The Company reviews its breakage estimates annually based upon the latest available information regarding redemption and expiration patterns. The Company's estimate of the expected expiration of miles requires significant management judgment. Current and future changes to expiration assumptions or to the expiration policy, or to program rules and program redemption opportunities, may result in material changes to the deferred revenue balance as well as recognized revenues from the program. For the portion of the outstanding miles that we estimate will not be redeemed, we recognize the associated value proportionally as the remaining miles are redeemed.

Co-Brand Agreement. United has a significant contract to sell MileagePlus miles to its co-branded credit card partner Chase Bank USA, N.A. ("Chase"). Chase awards miles to MileagePlus members based on their credit card activity. United identified the following significant separately identifiable performance obligations in the co-brand agreement:

•

MileagePlus miles awarded - United has a performance obligation to provide MileagePlus cardholders with miles to be used for air travel and non-travel award redemptions. The Company records Passenger revenue related to the travel awards when the transportation is provided and records Other revenue related to the non-travel awards when the goods or services are delivered. The Company records the cost associated with non-travel awards in Other operating revenue.


•	Marketing - United's marketing performance obligation is to provide Chase access to its customer list and the use of its brand. Marketing revenue is recorded to Other operating revenue as miles are delivered to Chase.


•	Advertising - United has a performance obligation to provide advertising in support of the MileagePlus card in various customer contact points such as United's website, email promotions, direct mail campaigns, airport advertising and in-flight advertising. Advertising revenue is recorded to Other operating revenue as miles are delivered to Chase.


•	Other travel-related benefits - United's performance obligations are comprised of various items such as waived bag fees, seat upgrades, and lounge passes. Lounge passes are recorded to Other operating revenue as customers use the lounge passes. Bag fees and seat upgrades are recorded to Passenger revenue at the time of the associated travel.

We account for all the payments received (including monthly and one-time payments) under the co-brand agreement by allocating them to the separately identifiable performance obligations. The fair value of the separately identifiable performance obligations is determined using management's estimated selling price of each component. The objective of using the estimated selling price based methodology is to determine the price at which we would transact a sale if the product or service were sold on a stand-alone basis. Accordingly, we determine our best estimate of selling price by considering multiple inputs and methods including, but not limited to, discounted cash flows, brand value, volume discounts, published selling prices, number of miles awarded and number of miles redeemed. The Company estimated the selling prices and volumes over the term of the co-brand agreement in order to determine the allocation of proceeds to each of the components to be delivered. We also evaluate volumes on an annual basis, which may result in a change in the allocation of the estimated consideration from the co-brand agreement on a prospective basis.

Frequent flyer deferred revenue. Miles in MileagePlus members' accounts are combined into one homogeneous pool and are thus not separately identifiable, for award redemption purposes, between miles earned in the current period and those in their beginning balance. Of the miles expected to be redeemed, the Company expects the majority of these miles to be redeemed within two years. The table below presents a roll forward of Frequent flyer deferred revenue (in millions):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Total Frequent flyer deferred revenue - beginning balance	$	4,989		$	4,891		$	4,783		$	4,889
Total miles awarded	616			525			1,826			1,544
Travel miles redeemed (Passenger revenue)	(580		)	(556		)	(1,508		)	(1,489		)
Non-travel miles redeemed (Other operating revenue)	(38		)	(42		)	(114		)	(126		)
Total Frequent flyer deferred revenue - ending balance	$	4,987		$	4,818		$	4,987		$	4,818

In the three and nine months ended September 30, 2018, the Company recognized, in Other operating revenue, $480 million and $1.5 billion, respectively, related to the marketing, advertising, non-travel miles redeemed (net of related costs) and other travel-related benefits of the mileage revenue associated with our various partner agreements including, but not limited to, our Chase co-brand agreement. The Company recognized $441 million and $1.3 billion, respectively, in the three and nine months ended September 30, 2017, related to those revenues. The portion related to the MileagePlus miles awarded of the total amounts received from our various partner agreements is deferred and presented in the table above as an increase to the frequent flyer liability.

Passenger Revenue by Geography. The Company further disaggregates passenger revenue by geographic regions. The following table presents passenger revenue by geographic region for the three and nine months ended September 30 (in millions):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Domestic	$	6,253	$	5,443	$	17,403	$	15,752

Atlantic	1,933		1,724		5,009		4,456
Pacific	1,163		1,125		3,335		3,242
Latin America	771		777		2,403		2,423
International	3,867		3,626		10,747		10,121
Consolidated	$	10,120	$	9,069	$	28,150	$	25,873

Ancillary Fees. The Company charges fees, separately from ticket sales, for certain ancillary services that are directly related to passengers' travel, such as ticket change fees, baggage fees, inflight amenities fees, and other ticket-related fees. These ancillary fees are part of the travel performance obligation and, as such, are recognized as passenger revenue when the travel occurs. The Company recorded $572 million and $1.6 billion of ancillary fees within passenger revenue in the three and nine months ended September 30, 2018, respectively, and recorded $538 million and $1.5 billion of such fees in the three and nine months ended September 30, 2017, respectively.

Earnings Per Share

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The computations of UAL's basic and diluted earnings per share are set forth below (in millions, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Earnings available to common stockholders	$	836	$	645	$	1,667	$	1,565

Basic weighted-average shares outstanding	272.4		299.8		277.0		306.8
Effect of employee stock awards	1.2		0.8		1.0		0.8
Diluted weighted-average shares outstanding	273.6		300.6		278.0		307.6

Earnings per share, basic	$	3.07	$	2.15	$	6.02	$	5.10
Earnings per share, diluted	$	3.06	$	2.15	$	5.99	$	5.09

The number of potentially dilutive securities excluded from the computation of diluted earnings per share amounts was not material.

In the three and nine months ended September 30, 2018, UAL repurchased approximately 0.5 million and 14.8 million shares, respectively, of UAL common stock in open market transactions for $34 million and $1.0 billion, respectively. As of September 30, 2018, the Company had approximately $2.0 billion remaining to purchase shares under its share repurchase program. UAL may repurchase shares through the open market, privately negotiated transactions, block trades or accelerated share repurchase transactions from time to time in accordance with applicable securities laws. UAL will repurchase shares of UAL common stock subject to prevailing market conditions, and may discontinue such repurchases at any time. See Part II, Item 2, Unregistered Sales of Equity Securities and Use of Proceeds of this report for additional information.

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The tables below present the components of the Company's accumulated other comprehensive income (loss), net of tax ("AOCI") (in millions):



UAL	Pension and Other Postretirement Liabilities			Investments and Other			Income Taxes			Total
UAL	Pension and Other Postretirement Liabilities			Investments and Other			Income Taxes			Total
Balance at June 30, 2018	$	(1,048	)	$	(2	)	$	(52	)	$	(1,102	)
Changes in value	—			1			—			1
Amounts reclassified to earnings	15			—			(3		)	12
Net change	15			1			(3		)	13
Balance at September 30, 2018	$	(1,033	)	$	(1	)	$	(55	)	$	(1,089	)
Balance at December 31, 2017	$	(1,102	)	$	(6	)	$	(39	)	$	(1,147	)
Changes in value	24			(2		)	(6		)	16
Amounts reclassified to earnings	45			—			(10		)	35
Amounts reclassified to retained earnings	—			7			—			7
Net change	69			5			(16		)	58
Balance at September 30, 2018	$	(1,033	)	$	(1	)	$	(55	)	$	(1,089	)

Balance at June 30, 2017	$	(860	)	$	(16	)	$	32		$	(844	)
Changes in value	(9		)	26			(6		)	11
Amounts reclassified to earnings	14			—			(5		)	9
Net change	5			26			(11		)	20
Balance at September 30, 2017	$	(855	)	$	10		$	21		$	(824	)
Balance at December 31, 2016	$	(854	)	$	(1	)	$	26		$	(829	)
Changes in value	(42		)	9			12			(21		)
Amounts reclassified to earnings	41			2			(17		)	26
Net change	(1		)	11			(5		)	5
Balance at September 30, 2017	$	(855	)	$	10		$	21		$	(824	)



Details for AOCI Components Reclassified to Income	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Statements of Consolidated Operations
	2018		2017		2018		2017
Pension and other postretirement liabilities
Amortization of unrecognized losses and prior service cost (a)	$	15	$	14	$	45	$	41	Miscellaneous, net
Investments and Other
Reclassifications of losses into earnings related to fuel derivative contracts	—		—		—		2		Aircraft fuel

(a) This AOCI component is included in the computation of net periodic pension and other postretirement costs (see Note 6 to the financial statements included in this Part I, Item 1 for additional information).

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company's effective tax rate for the three and nine months ended September 30, 2018 was 21.2% and 20.7%, respectively, and the effective tax rate for the three and nine months ended September 30, 2017 was 35.0% and 35.3%, respectively. The effective tax rate represents a blend of federal, state and foreign taxes and included the impact of certain nondeductible items. The effective tax rate for the three and nine months ended September 30, 2018 also reflects the reduced federal corporate income tax rate as a result of the enactment of the Tax Cuts and Jobs Act (the "Tax Act") in December 2017 and the impact of a change in the Company's mix of domestic and foreign earnings. The Company continues to analyze the different aspects of the Tax Act which could potentially affect the provisional estimates that were recorded at December 31, 2017.

Employee Benefit Plans

9 Months Ended

Sep. 30, 2018

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Defined Benefit Pension and Other Postretirement Benefit Plans. The Company's net periodic benefit cost includes the following components for the three months ended September 30 (in millions):



	Pension Benefits						Other Postretirement Benefits						Affected Line Item in the Statements of Consolidated Operations
	2018			2017			2018			2017
Service cost	$	57		$	48		$	3		$	4		Salaries and related costs
Interest cost	54			55			16			16			Miscellaneous, net
Expected return on plan assets	(73		)	(61		)	(1		)	—			Miscellaneous, net
Amortization of unrecognized (gain) loss and prior service cost (credit)	32			32			(17		)	(18		)	Miscellaneous, net
Settlement loss	—			3			—			—			Miscellaneous, net
Total	$	70		$	77		$	1		$	2

The Company's net periodic benefit cost includes the following components for the nine months ended September 30 (in millions):



	Pension Benefits						Other Postretirement Benefits						Affected Line Item in the Statements of Consolidated Operations
	2018			2017			2018			2017
Service cost	$	171		$	146		$	9		$	10		Salaries and related costs
Interest cost	162			165			46			50			Miscellaneous, net
Expected return on plan assets	(219		)	(182		)	(1		)	(1		)	Miscellaneous, net
Amortization of unrecognized (gain) loss and prior service cost (credit)	97			95			(52		)	(54		)	Miscellaneous, net
Settlement loss	—			5			—			—			Miscellaneous, net
Total	$	211		$	229		$	2		$	5

During the three and nine months ended September 30, 2018, the Company contributed $240 million and $400 million to its U.S. domestic tax-qualified defined benefit pension plans, respectively.

Share-Based Compensation. In the nine months ended September 30, 2018, UAL granted share-based compensation awards pursuant to the United Continental Holdings, Inc. 2017 Incentive Compensation Plan. These share-based compensation awards include 1.8 million RSUs consisting of 1.1 million time-vested RSUs and 0.7 million performance-based RSUs. The time-vested RSUs vest pro-rata, on February 28th of each year, over a three-year period from the date of grant. These RSUs are generally equity awards settled in stock for domestic employees and liability awards settled in cash for international employees. The cash payments are based on the 20-day average closing price of UAL common stock immediately prior to the vesting date. The performance-based RSUs vest based on the Company's relative improvement in pre-tax margin, as compared to a group of industry peers, for the three years ending December 31, 2020. 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 performance-based RSUs as liability awards.

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Share-based compensation expense	$	29	$	10	$	73	$	66

	September 30, 2018		December 31, 2017
Unrecognized share-based compensation	$	69	$	53

Financial Instruments and Fair Value Measurements

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in UAL's financial statements (in millions):



	September 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	2,621	$	2,621	$	—	$	—	$	1,482	$	1,482	$	—	$	—
Short-term investments:
Corporate debt	1,013		—		1,013		—		958		—		958		—
Asset-backed securities	822		—		822		—		753		—		753		—
U.S. government and agency notes	106		—		106		—		113		—		113		—
Certificates of deposit placed through an account registry service ("CDARS")	49		—		49		—		120		—		120		—
Other fixed-income securities	137		—		137		—		188		—		188		—
Other investments measured at net asset value ("NAV")	187		—		—		—		184		—		—		—
Restricted cash	105		105		—		—		109		109		—		—
Long-term investments:
Equity securities	160		160		—		—		99		99		—		—
Enhanced equipment trust certificates ("EETC")	18		—		—		18		22		—		—		22

Available-for-sale investment maturities - The short-term investments shown in the table above are classified as available-for-sale, with the exception of investments measured at NAV. As of September 30, 2018, asset-backed securities have remaining maturities of less than one year to approximately 16 years, corporate debt securities have remaining maturities of less than one year to approximately three years and CDARS have maturities of less than one year. U.S. government and other securities have maturities of less than one year to approximately two years. The EETC securities mature in 2019.

Restricted cash - Restricted cash primarily includes collateral for letters of credit and collateral associated with facility leases and other insurance related obligations.

Equity securities - Equity securities represent United's investment in Azul. In April 2018, through a wholly-owned subsidiary, the Company invested $138 million in Azul thus increasing its preferred equity stake to approximately 8% (approximately 2% of the total capital stock of Azul). The Company recognizes changes to the fair market value of its equity investment in Azul in Miscellaneous, net in its statements of consolidated operations.

Investments presented in the table above have the same fair value as their carrying value. The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions):



	Fair Value of Debt by Fair Value Hierarchy Level
	September 30, 2018										December 31, 2017
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
Long-term debt	$	13,128	$	13,230	$	—	$	9,736	$	3,494	$	13,268	$	13,787	$	—	$	10,115	$	3,672

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, Equity securities, EETC 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) broker quotes obtained by third-party valuation services.

Other investments measured at NAV		In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The Company can redeem its shares at any time at NAV subject to a three-day settlement period.

Long-term 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.

- 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 + Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Commitments. As of September 30, 2018, United had firm commitments and options to purchase aircraft from The Boeing Company ("Boeing"), Airbus S.A.S. ("Airbus") and Embraer S.A. ("Embraer") presented in the table below:



Aircraft Type		Number of Firm Commitments (a)
Airbus A350		45
Boeing 737 MAX		154
Boeing 777-300ER		1
Boeing 787		27
Embraer E175		25
(a) United also has options and purchase rights for additional aircraft.

The aircraft listed in the table above are scheduled for delivery through 2027. To the extent the Company and the aircraft manufacturers with whom the Company has existing orders for new aircraft agree to modify the contracts governing those orders, the amount and timing of the Company's future capital commitments could change. For the remainder of 2018, the Company expects to take delivery of three Boeing 787 aircraft, three Boeing 737 MAX aircraft and one Boeing 777-300ER aircraft. United also has an agreement to purchase 20 used Airbus A319 aircraft with expected delivery dates scheduled in 2020 and 2021.

During the third quarter of 2018, United entered into an agreement with the lessor of 54 Embraer ERJ 145 aircraft to purchase those aircraft in 2019. The provisions of the new lease agreement resulted in a change in accounting classification of these new leases from operating leases to capital leases up until the purchase date.

The table below summarizes United's commitments as of September 30, 2018, which primarily relate to the acquisition of aircraft and related spare engines, aircraft improvements and include other capital purchase commitments. Any additional firm aircraft orders, including through the exercise of purchase options and purchase rights, will increase the total future capital commitments of the Company.



	(in billions)
Last three months of 2018	$	1.1
2019	4.1
2020	4.2
2021	2.9
2022	1.7
After 2022	9.8
	$	23.8

Facility and Other Operating Leases. In March 2018, United entered into a new Airline Use and Lease Agreement at Chicago O'Hare International Airport ("Chicago O'Hare") with the City of Chicago with a lease term of approximately 15 years, effective May 12, 2018 through December 31, 2033. In the second quarter of 2018, United entered into several new ground and facility leases at Chicago O'Hare, effective May 12, 2018, for hangars, a ground equipment maintenance building, and employee parking with lease terms ranging from 15 years to 30 years.

The table below summarizes the Company's scheduled future minimum lease payments under facility operating leases having initial or remaining noncancelable lease terms of more than one year as of September 30, 2018 (in millions):



	Facility and Other Operating Leases
Last three months of 2018	$	345
2019	1,244
2020	1,338
2021	1,104
2022	966
After 2022	7,934
	$	12,931

Guarantees. As of September 30, 2018, United is the guarantor of approximately $2.0 billion 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 approximately $1.4 billion 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 approximately $466 million of these obligations are accounted for as capital leases. All of these bonds are due between 2019 and 2038.

Increased Cost Provisions. 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, 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 September 30, 2018, the Company had $3.2 billion of floating rate debt and $35 million of fixed rate debt with remaining terms of up to 10 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 10 years and an aggregate balance of $3.1 billion, 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.

As of September 30, 2018, United is the guarantor of $148 million of aircraft mortgage debt issued by one of United's regional carriers. The aircraft mortgage debt is subject to similar increased cost provisions as described above for the Company's debt, and the Company would potentially be responsible for those costs under the guarantees.

Labor Negotiations. As of September 30, 2018, United had approximately 90,900 employees, of whom approximately 82% were represented by various U.S. labor organizations. UNITE HERE is attempting to organize United's Catering Operations employees, who are currently unrepresented. The National Mediation Board authorized a union election for United's Catering Operations employees with voting concluding October 23, 2018.

Debt

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Debt

DEBT

As of September 30, 2018, a substantial portion of the Company's assets, principally aircraft, certain route authorities and airport slots, was pledged under various loan and other agreements. As of September 30, 2018, UAL and United were in compliance with their respective debt covenants. In May 2018, the Company's Amended and Restated Credit and Guaranty Agreement (as amended, the "2017 Credit Agreement") was amended to reduce the interest rate on the term loan by 0.25%. As of September 30, 2018, United had its entire capacity of $2.0 billion available under the revolving credit facility of the 2017 Credit Agreement.

EETCs. In February and May 2018, United created three new EETC pass-through trusts, each of which issued pass-through certificates. The proceeds of the issuance of the pass-through certificates are used to purchase equipment notes issued by United and secured by its aircraft. The Company records the debt obligation upon issuance of the equipment notes rather than upon the initial issuance of the pass-through certificates. The pass-through certificates represent fractional undivided interests in the respective pass-through trusts and are not obligations of United. The payment obligations under the equipment notes are those of United. Proceeds received from the sale of pass-through certificates are initially held by a depositary in escrow for the benefit of the certificate holders until United issues equipment notes to the trust, which purchases such notes with a portion of the escrowed funds. These escrowed funds are not guaranteed by United and are not reported as debt on our consolidated balance sheet because the proceeds held by the depositary are not United's assets. Certain details of the pass-through trusts with proceeds received from issuance of debt in 2018 are as follows (in millions, except stated interest rate):



EETC Date	Class	Principal		Final expected distribution date	Stated interest rate	Total proceeds received from issuance of debt during 2018 and recorded as debt as of September 30, 2018
February 2018	AA	$	677	March 2030	3.50%	$	677
February 2018	A	258		March 2030	3.70%	258
May 2018	B	226		March 2026	4.60%	226
		$	1,161			$	1,161

The table below presents the Company's contractual principal payments (not including debt discount or debt issuance costs) at September 30, 2018 under then-outstanding long-term debt agreements (in millions):



Last three months of 2018	$	208
2019	1,205
2020	1,242
2021	1,230
2022	1,565
After 2022	7,838
	$	13,288

Special Charges and Mark-to-Market Adjustments

9 Months Ended

Sep. 30, 2018

Other Income and Expenses [Abstract]

Special Charges and Mark-to-Market Adjustments

SPECIAL CHARGES AND MARK-TO-MARKET ADJUSTMENTS

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



	Three Months Ended September 30,						Nine Months Ended September 30,
Operating:	2018			2017			2018			2017
Impairment of assets	$	11		$	15		$	145		$	15
Severance and benefit costs	9			23			34			101
(Gains) losses on sale of assets and other special charges	(3		)	12			7			29
Total special charges	17			50			186			145
Nonoperating mark-to-market ("MTM") (gains) losses on equity investments	(29		)	—			61			—
Total special charges and MTM (gains) losses on equity investments	(12		)	50			247			145
Income tax expense (benefit)	3			(18		)	(55		)	(52		)
Total special charges and MTM (gains) losses on equity investments, net of tax	$	(9	)	$	32		$	192		$	93

In May 2018, the Brazil–United States open skies agreement was ratified, which provides air carriers with unrestricted access between the United States and Brazil. The Company determined that the approval of the open skies agreement impaired the entire value of its Brazil route authorities because the agreement removes all limitations or reciprocity requirements for flights between the United States and Brazil. Accordingly, the Company recorded a $105 million special charge ($82 million net of taxes) to write off the entire value of the intangible asset associated with its Brazil routes. This asset is not part of any collateral pledged against any of the Company's borrowings. The Company continues to maintain its slot assets related to Brazil since airport access is still regulated by slot allocations that are limited by airport facility constraints. For the three and nine months ended September 30, 2018, the Company also recorded $11 million ($9 million net of taxes) and $40 million ($31 million net of taxes), respectively, of fair value adjustments related to aircraft purchased off lease, write-off of unexercised aircraft purchase options and other impairments related to certain fleet types and international slots no longer in use.

During the three months ended September 30, 2017, the Company recorded a $15 million ($10 million net of taxes) intangible asset impairment charge related to a maintenance service agreement.

During the three and nine months ended September 30, 2018, the Company recorded severance and benefit costs related to a voluntary early-out program for its technicians and related employees represented by the International Brotherhood of Teamsters of $5 million ($4 million net of taxes) and $19 million ($15 million net of taxes), respectively. In the first quarter of 2017, approximately 1,000 technicians and related employees elected to voluntarily separate from the Company and will receive a severance payment, with a maximum value of $100,000 per participant, based on years of service, with retirement dates through 2018. Also during the three and nine months ended September 30, 2018, the Company recorded other management severance of $4 million ($3 million net of taxes) and $15 million ($12 million net of taxes), respectively.

During the three and nine months ended September 30, 2017, the Company recorded $16 million ($10 million net of taxes) and $73 million ($47 million net of taxes), respectively, of severance and benefit costs related to the voluntary early-out program for its technicians and related employees, and $7 million ($5 million net of taxes) and $28 million ($18 million net of taxes), respectively, of management severance.

During the three and nine months ended September 30, 2018, the Company recorded $3 million ($2 million net of taxes) of gains primarily related to the sale of aircraft engines and $7 million ($5 million net of taxes) of losses primarily related to contract termination of regional aircraft operations in Guam, respectively.

During the three months ended September 30, 2017, the Company recorded $12 million ($7 million net of taxes) of charges primarily related to damages from tropical storms. During the nine months ended September 30, 2017, in addition to the $12 million of third-quarter charges, the Company recorded $17 million ($11 million net of taxes) of charges primarily associated with aircraft gains and losses.

During the three and nine months ended September 30, 2018, the Company recorded gains of $29 million ($23 million net of taxes) and losses of $61 million ($47 million net of taxes), respectively, for the change in market value of certain of its equity investments. For equity investments subject to MTM accounting, the Company records gains and losses to Nonoperating income (expense): Miscellaneous, net in its statements of consolidated operations.

Accrual Activity

The severance-related accrual as of September 30, 2018 is primarily related to severance and other compensation expense associated with voluntary employee early retirement programs and is expected to be mostly paid by the end of 2018. The accrual balance for future lease payments on permanently grounded aircraft as of September 30, 2018 is expected to be mostly paid through 2025. Activity related to these accruals is as follows (in millions):



	Severance and Benefits			Permanently Grounded Aircraft
Balance at December 31, 2017	$	37		$	22
Accrual	34			—
Payments	(42		)	(2		)
Balance at September 30, 2018	$	29		$	20



	Severance and Benefits			Permanently Grounded Aircraft
Balance at December 31, 2016	$	14		$	41
Accrual	101			—
Payments	(84		)	(13		)
Balance at September 30, 2017	$	31		$	28

Recently Issued Accounting Standards (Tables)

9 Months Ended

Sep. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of Adoption of Accounting Standards and Expected Impact on Financial Statements

The table below presents the impact of the adoption of the New Revenue Standard and the New Retirement Standard on select accounts and captions of the statement of consolidated operations for the three months ended September 30, 2017 (in millions, except per share amounts):



	Three Months Ended September 30, 2017
	As Previously Reported			New Revenue Standard Adjustments			New Retirement Standard Adjustments			As Adjusted
Passenger revenue	$	8,528		$	541		$	—		$	9,069
Cargo	257			22			—			279
Other operating revenue	1,093			(542		)	—			551
Total operating revenue	9,878			21			—			9,899

Salaries and related costs	2,812			—			(27		)	2,785
Distribution expenses	352			25			—			377
Other operating expenses	1,459			(23		)	—			1,436
Total operating expenses	8,786			2			(27		)	8,761

Operating income	1,092			19			27			1,138

Interest expense	(164		)	(5		)	—			(169		)
Miscellaneous, net	15			(1		)	(27		)	(13		)
Total nonoperating expense, net	(112		)	(6		)	(27		)	(145		)

Income before income taxes	980			13			—			993
Income tax expense	343			5			—			348
Net income	637			8			—			645

Earnings per share, basic	2.12			0.03			—			2.15
Earnings per share, diluted	2.12			0.03			—			2.15



	Nine Months Ended September 30, 2017
	As Previously Reported			New Revenue Standard Adjustments			New Retirement Standard Adjustments			As Adjusted
Passenger revenue	$	24,324		$	1,549		$	—		$	25,873
Cargo	731			59			—			790
Other operating revenue	3,243			(1,573		)	—			1,670
Total operating revenue	28,298			35			—			28,333

Salaries and related costs	8,341			—			(78		)	8,263
Distribution expenses	1,021			60			—			1,081
Other operating expenses	4,199			(73		)	—			4,126
Total operating expenses	25,529			(13		)	(78		)	25,438

Operating income	2,769			48			78			2,895

Interest expense	(472		)	(26		)	—			(498		)
Miscellaneous, net	(3		)	(1		)	(78		)	(82		)
Total nonoperating expense, net	(370		)	(27		)	(78		)	(475		)

Income before income taxes	2,399			21			—			2,420
Income tax expense	848			7			—			855
Net income	1,551			14			—			1,565

Earnings per share, basic	5.06			0.04			—			5.10
Earnings per share, diluted	5.04			0.05			—			5.09

The table below presents the impact of the adoption of the New Revenue Standard on UAL's balance sheet accounts and captions as of December 31, 2017 (in millions):



	At December 31, 2017
	As Previously Reported		New Revenue Standard Adjustments		As Adjusted
Prepaid expenses and other	$	1,051	$	20	$	1,071
Total current assets	7,113		20		7,133
Total assets	42,326		20		42,346



Advance ticket sales	3,876	64		3,940
Frequent flyer deferred revenue	2,176	16		2,192
Other	569	7		576
Total current liabilities	12,676	87		12,763

Frequent flyer deferred revenue - long-term	2,565	26		2,591
Deferred income taxes	225	(21	)	204
Total other liabilities and deferred credits	8,145	5		8,150

Retained earnings	4,621	(72	)	4,549
Total stockholders' equity	8,806	(72	)	8,734
Total liabilities and stockholders' equity	42,326	20		42,346

Revenue (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Summary of Roll Forward of Frequent Flyer Deferred Revenue

The table below presents a roll forward of Frequent flyer deferred revenue (in millions):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Total Frequent flyer deferred revenue - beginning balance	$	4,989		$	4,891		$	4,783		$	4,889
Total miles awarded	616			525			1,826			1,544
Travel miles redeemed (Passenger revenue)	(580		)	(556		)	(1,508		)	(1,489		)
Non-travel miles redeemed (Other operating revenue)	(38		)	(42		)	(114		)	(126		)
Total Frequent flyer deferred revenue - ending balance	$	4,987		$	4,818		$	4,987		$	4,818

Summary of Passenger Revenue by Geographic Region and by Mainline Versus Regional

The following table presents passenger revenue by geographic region for the three and nine months ended September 30 (in millions):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Domestic	$	6,253	$	5,443	$	17,403	$	15,752

Atlantic	1,933		1,724		5,009		4,456
Pacific	1,163		1,125		3,335		3,242
Latin America	771		777		2,403		2,423
International	3,867		3,626		10,747		10,121
Consolidated	$	10,120	$	9,069	$	28,150	$	25,873

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Computation of Earnings Per Share

The computations of UAL's basic and diluted earnings per share are set forth below (in millions, except per share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Earnings available to common stockholders	$	836	$	645	$	1,667	$	1,565

Basic weighted-average shares outstanding	272.4		299.8		277.0		306.8
Effect of employee stock awards	1.2		0.8		1.0		0.8
Diluted weighted-average shares outstanding	273.6		300.6		278.0		307.6

Earnings per share, basic	$	3.07	$	2.15	$	6.02	$	5.10
Earnings per share, diluted	$	3.06	$	2.15	$	5.99	$	5.09

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Components of Accumulated Other Comprehensive Income, Net of Tax

The tables below present the components of the Company's accumulated other comprehensive income (loss), net of tax ("AOCI") (in millions):



UAL	Pension and Other Postretirement Liabilities			Investments and Other			Income Taxes			Total
UAL	Pension and Other Postretirement Liabilities			Investments and Other			Income Taxes			Total
Balance at June 30, 2018	$	(1,048	)	$	(2	)	$	(52	)	$	(1,102	)
Changes in value	—			1			—			1
Amounts reclassified to earnings	15			—			(3		)	12
Net change	15			1			(3		)	13
Balance at September 30, 2018	$	(1,033	)	$	(1	)	$	(55	)	$	(1,089	)
Balance at December 31, 2017	$	(1,102	)	$	(6	)	$	(39	)	$	(1,147	)
Changes in value	24			(2		)	(6		)	16
Amounts reclassified to earnings	45			—			(10		)	35
Amounts reclassified to retained earnings	—			7			—			7
Net change	69			5			(16		)	58
Balance at September 30, 2018	$	(1,033	)	$	(1	)	$	(55	)	$	(1,089	)

Balance at June 30, 2017	$	(860	)	$	(16	)	$	32		$	(844	)
Changes in value	(9		)	26			(6		)	11
Amounts reclassified to earnings	14			—			(5		)	9
Net change	5			26			(11		)	20
Balance at September 30, 2017	$	(855	)	$	10		$	21		$	(824	)
Balance at December 31, 2016	$	(854	)	$	(1	)	$	26		$	(829	)
Changes in value	(42		)	9			12			(21		)
Amounts reclassified to earnings	41			2			(17		)	26
Net change	(1		)	11			(5		)	5
Balance at September 30, 2017	$	(855	)	$	10		$	21		$	(824	)



Details for AOCI Components Reclassified to Income	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Statements of Consolidated Operations
	2018		2017		2018		2017
Pension and other postretirement liabilities
Amortization of unrecognized losses and prior service cost (a)	$	15	$	14	$	45	$	41	Miscellaneous, net
Investments and Other
Reclassifications of losses into earnings related to fuel derivative contracts	—		—		—		2		Aircraft fuel

Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2018

Components of Net Periodic Benefit Cost

The Company's net periodic benefit cost includes the following components for the three months ended September 30 (in millions):



	Pension Benefits						Other Postretirement Benefits						Affected Line Item in the Statements of Consolidated Operations
	2018			2017			2018			2017
Service cost	$	57		$	48		$	3		$	4		Salaries and related costs
Interest cost	54			55			16			16			Miscellaneous, net
Expected return on plan assets	(73		)	(61		)	(1		)	—			Miscellaneous, net
Amortization of unrecognized (gain) loss and prior service cost (credit)	32			32			(17		)	(18		)	Miscellaneous, net
Settlement loss	—			3			—			—			Miscellaneous, net
Total	$	70		$	77		$	1		$	2

The Company's net periodic benefit cost includes the following components for the nine months ended September 30 (in millions):



	Pension Benefits						Other Postretirement Benefits						Affected Line Item in the Statements of Consolidated Operations
	2018			2017			2018			2017
Service cost	$	171		$	146		$	9		$	10		Salaries and related costs
Interest cost	162			165			46			50			Miscellaneous, net
Expected return on plan assets	(219		)	(182		)	(1		)	(1		)	Miscellaneous, net
Amortization of unrecognized (gain) loss and prior service cost (credit)	97			95			(52		)	(54		)	Miscellaneous, net
Settlement loss	—			5			—			—			Miscellaneous, net
Total	$	211		$	229		$	2		$	5

Share-Based Compensation Expense

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Share-based compensation expense	$	29	$	10	$	73	$	66

	September 30, 2018		December 31, 2017
Unrecognized share-based compensation	$	69	$	53

Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in UAL's financial statements (in millions):



	September 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	2,621	$	2,621	$	—	$	—	$	1,482	$	1,482	$	—	$	—
Short-term investments:
Corporate debt	1,013		—		1,013		—		958		—		958		—
Asset-backed securities	822		—		822		—		753		—		753		—
U.S. government and agency notes	106		—		106		—		113		—		113		—
Certificates of deposit placed through an account registry service ("CDARS")	49		—		49		—		120		—		120		—
Other fixed-income securities	137		—		137		—		188		—		188		—
Other investments measured at net asset value ("NAV")	187		—		—		—		184		—		—		—
Restricted cash	105		105		—		—		109		109		—		—
Long-term investments:
Equity securities	160		160		—		—		99		99		—		—
Enhanced equipment trust certificates ("EETC")	18		—		—		18		22		—		—		22

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 (in millions):



	Fair Value of Debt by Fair Value Hierarchy Level
	September 30, 2018										December 31, 2017
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3				Total		Level 1		Level 2		Level 3
Long-term debt	$	13,128	$	13,230	$	—	$	9,736	$	3,494	$	13,268	$	13,787	$	—	$	10,115	$	3,672

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, Equity securities, EETC 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) broker quotes obtained by third-party valuation services.

Other investments measured at NAV		In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The Company can redeem its shares at any time at NAV subject to a three-day settlement period.

Long-term 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.

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Purchase Commitments

As of September 30, 2018, United had firm commitments and options to purchase aircraft from The Boeing Company ("Boeing"), Airbus S.A.S. ("Airbus") and Embraer S.A. ("Embraer") presented in the table below:



Aircraft Type		Number of Firm Commitments (a)
Airbus A350		45
Boeing 737 MAX		154
Boeing 777-300ER		1
Boeing 787		27
Embraer E175		25
(a) United also has options and purchase rights for additional aircraft.



	(in billions)
Last three months of 2018	$	1.1
2019	4.1
2020	4.2
2021	2.9
2022	1.7
After 2022	9.8
	$	23.8

Future Minimum Lease Payments for Operating Leases



	Facility and Other Operating Leases
Last three months of 2018	$	345
2019	1,244
2020	1,338
2021	1,104
2022	966
After 2022	7,934
	$	12,931

Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Details of Pass Through Trusts

Certain details of the pass-through trusts with proceeds received from issuance of debt in 2018 are as follows (in millions, except stated interest rate):



EETC Date	Class	Principal		Final expected distribution date	Stated interest rate	Total proceeds received from issuance of debt during 2018 and recorded as debt as of September 30, 2018
February 2018	AA	$	677	March 2030	3.50%	$	677
February 2018	A	258		March 2030	3.70%	258
May 2018	B	226		March 2026	4.60%	226
		$	1,161			$	1,161

Contractual Principal Payments



Last three months of 2018	$	208
2019	1,205
2020	1,242
2021	1,230
2022	1,565
After 2022	7,838
	$	13,288

Special Charges and Mark-to-Market Adjustments (Tables)

9 Months Ended

Sep. 30, 2018

Other Income and Expenses [Abstract]

Components of Special Charges

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



	Three Months Ended September 30,						Nine Months Ended September 30,
Operating:	2018			2017			2018			2017
Impairment of assets	$	11		$	15		$	145		$	15
Severance and benefit costs	9			23			34			101
(Gains) losses on sale of assets and other special charges	(3		)	12			7			29
Total special charges	17			50			186			145
Nonoperating mark-to-market ("MTM") (gains) losses on equity investments	(29		)	—			61			—
Total special charges and MTM (gains) losses on equity investments	(12		)	50			247			145
Income tax expense (benefit)	3			(18		)	(55		)	(52		)
Total special charges and MTM (gains) losses on equity investments, net of tax	$	(9	)	$	32		$	192		$	93

Accrual Activity

Activity related to these accruals is as follows (in millions):



	Severance and Benefits			Permanently Grounded Aircraft
Balance at December 31, 2017	$	37		$	22
Accrual	34			—
Payments	(42		)	(2		)
Balance at September 30, 2018	$	29		$	20



	Severance and Benefits			Permanently Grounded Aircraft
Balance at December 31, 2016	$	14		$	41
Accrual	101			—
Payments	(84		)	(13		)
Balance at September 30, 2017	$	31		$	28

Recently Issued Accounting Standards - Schedule of Adoption of ASC 606 and Expected Impact (Statement of Operations) (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 11,003

$ 9,899

^[1]

$ 30,812

$ 28,333

^[2]

2,930

2,785

^[2]

8,534

8,263

^[2]

427

377

^[2]

1,162

1,081

^[2]

1,467

1,436

^[2]

4,293

4,126

^[2]

9,800

8,761

^[2]

28,172

25,438

^[2]

1,203

1,138

^[2]

2,640

2,895

^[2]

(187)

(169)

^[2]

(540)

(498)

^[2]

(1)

(13)

^[2]

(119)

(82)

^[2]

(142)

(145)

^[2]

(538)

(475)

^[2]

1,061

993

^[2]

2,102

2,420

^[2]

225

348

^[2]

435

855

^[2]

$ 836

$ 645

^[2],[3]

$ 1,667

$ 1,565

^[2],[3]

$ 3.07

$ 2.15

^[2]

$ 6.02

$ 5.10

^[2]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 3.06

$ 2.15

^[2]

$ 5.99

$ 5.09

^[2]

As Previously Reported

$ 9,878

$ 28,298

2,812

8,341

352

1,021

1,459

4,199

8,786

25,529

1,092

2,769

(164)

(472)

(3)

(112)

(370)

980

2,399

343

848

$ 637

$ 1,551

$ 2.12

$ 5.06

Restatement Adjustment | Accounting Standards Update 2014-09

$ 2.12

$ 5.04

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 21

$ 35

(23)

(73)

(13)

(5)

(26)

(1)

(6)

(27)

$ 8

$ 14

$ 0.03

$ 0.04

Restatement Adjustment | Accounting Standards Update 2017-07

$ 0.03

$ 0.05

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ (27)

$ (78)

(27)

(78)

(27)

(78)

(27)

(78)

$ 0

$ 0.00

$ 0.00

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Passenger revenue | As Previously Reported

$ 10,120

$ 9,069

^[1]

$ 28,150

$ 25,873

^[2]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Passenger revenue | Restatement Adjustment | Accounting Standards Update 2014-09

8,528

24,324

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

541

1,549

Cargo

Cargo | As Previously Reported

296

279

^[1]

903

790

^[2]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cargo | Restatement Adjustment | Accounting Standards Update 2014-09

257

731

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Other operating revenue

Other operating revenue | As Previously Reported

$ 587

551

^[1]

$ 1,759

1,670

^[2]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Other operating revenue | Restatement Adjustment | Accounting Standards Update 2014-09

1,093

3,243

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ (542)

$ (1,573)

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[3]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Recently Issued Accounting Standards - Schedule of Adoption of ASC 606 and Expected Impact (Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions

Sep. 30, 2018

Dec. 31, 2017

$ 973

$ 1,071

^[1]

8,671

7,133

^[1]

44,837

42,346

^[1]

5,193

3,940

^[1]

2,275

2,192

^[1]

585

576

^[1]

Frequent flyer deferred revenue - long-term

13,684

12,763

^[1]

2,712

2,591

^[1]

639

204

^[1]

8,350

8,150

^[1]

6,203

4,549

^[1]

9,469

8,734

^[1]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 44,837

42,346

^[1]

As Previously Reported

1,051

7,113

42,326

3,876

2,176

569

Frequent flyer deferred revenue - long-term

12,676

2,565

225

8,145

4,621

8,806

Restatement Adjustment | Accounting Standards Update 2014-09

42,326

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Frequent flyer deferred revenue - long-term

(21)

(72)

(72)

$ 20

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Recently Issued Accounting Standards - Narrative (Details) $ in Millions	Jan. 01, 2018 USD ($)
Retained Earnings \| Accounting Standards Update 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle	$ (7)

Revenue - Additional Information (Detail) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Refundable tickets expiration period

1 year

Frequent flyer mileage program expiration period after member account inactivity

$ 11,003

$ 9,899

^[1]

$ 30,812

$ 28,333

^[2]

18 months

Frequent flyer mileage program period in which miles redeemed

2 years

Passenger Revenue

Ancillary fees

572

538

$ 1,600

1,500

Minimum

Frequent flyer mileage program expiration period

1 year

Maximum

Frequent flyer mileage program expiration period

8 years

Deferred Revenue for Miles in Loyalty Program

Advance tickets expiration period

12 months

Passenger revenue | Deferred Revenue for Miles in Loyalty Program

10,120

9,069

^[1]

$ 28,150

25,873

^[2]

3,200

2,900

2,300

Other operating revenue

Other operating revenue | Chase and Other Partner Agreements

587

551

^[1]

1,759

1,670

^[2]

$ 480

$ 441

$ 1,500

$ 1,300

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Revenue - Summary of Roll Forward of Frequent Flyer Deferred Revenue (Details) - Deferred Revenue for Miles in Loyalty Program - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Movement in Deferred Revenue [Roll Forward]
Total Frequent flyer deferred revenue - beginning balance	$ 4,989	$ 4,891	$ 4,783	$ 4,889
Total miles awarded	616	525	1,826	1,544
Travel miles redeemed (Passenger revenue)	(580)	(556)	(1,508)	(1,489)
Non-travel miles redeemed (Other operating revenue)	(38)	(42)	(114)	(126)
Total Frequent flyer deferred revenue - ending balance	$ 4,987	$ 4,818	$ 4,987	$ 4,818

Revenue - Summary of Passenger Revenue by Geographic Region and by Mainline Versus Regional (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

$ 11,003

$ 9,899

^[1]

$ 30,812

$ 28,333

^[2]

Passenger revenue | International

10,120

9,069

^[1]

28,150

25,873

^[2]

Passenger revenue | Domestic

3,867

3,626

10,747

10,121

Passenger revenue | Atlantic

6,253

5,443

17,403

15,752

Passenger revenue | Pacific

1,933

1,724

5,009

4,456

Passenger revenue | Latin America

1,163

1,125

3,335

3,242

Earnings available to common stockholders

$ 771

$ 777

$ 2,403

$ 2,423

[1]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
[2]	Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Earnings Per Share [Abstract]

$ 836

$ 645

$ 1,667

$ 1,565

Basic weighted-average shares outstanding (in shares)

272.4

299.8

277.0

306.8

Effect of employee stock awards (in shares)

1.2

0.8

1.0

0.8

Diluted weighted-average shares outstanding (in shares)

273.6

300.6

278.0

307.6

$ 3.07

$ 2.15

^[1]

$ 6.02

$ 5.10

^[1]

AOCI Attributable To Parent, Tax [Roll Forward]

$ 3.06

$ 2.15

^[1]

$ 5.99

$ 5.09

^[1]

[1]

Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

Earnings Per Share - Additional Information (Detail) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018 USD ($) shares	Sep. 30, 2018 USD ($) shares
Earnings Loss Per Share [Line Items]
Amount remaining under repurchase programs	$ 2,000	$ 2,000
Open Market Repurchase Program
Earnings Loss Per Share [Line Items]
Number of shares repurchased \| shares	0.5	14.8
Repurchases of common stock	$ 34	$ 1,000

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income, Net of Tax (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Beginning Balance, income taxes

$ (52)

$ 32

$ (39)

$ 26

Changes in value, income taxes

(6)

Amounts reclassified to earnings, income taxes

(3)

(5)

(10)

(17)

Amounts reclassified to retained earnings, income taxes

Net change, income taxes

(3)

(11)

(16)

(5)

Ending Balance, income taxes

(55)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Beginning balance

^[1]

8,734

Pension and Other Postretirement Liabilities

^[2]

Ending balance

9,469

AOCI Attributable To Parent, Before Tax [Roll Forward]

Beginning Balance, before tax

(1,048)

(860)

(1,102)

(854)

Changes in value, before tax

(9)

(42)

Amounts reclassified to earnings, before tax

Amounts reclassified to retained earnings, before tax

Net change, before tax

(1)

Ending Balance, before tax

(1,033)

(855)

(1,033)

(855)

Investments and Other

AOCI Attributable To Parent, Before Tax [Roll Forward]

Beginning Balance, before tax

(2)

(16)

(6)

(1)

Changes in value, before tax

(2)

Amounts reclassified to earnings, before tax

Amounts reclassified to retained earnings, before tax

Net change, before tax

Ending Balance, before tax

(1)

Accumulated Other Comprehensive Income (Loss)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Beginning balance

(1,102)

(844)

(1,147)

(829)

Changes in value, net of tax

(21)

Amounts reclassified to earnings, net of tax

Amounts reclassified to retained earnings, net of tax