EX-12.1 3 twlone.htm Exhibit 11
Exhibit 12.1



UAL Corporation and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges



 

 
Successor 
Predecessor
(In Millions)
Period from February 1 to March 31,
Period from January 1 to January 31,
Three Months Ended March 31,
Earnings (losses):
2006
2006
2005
             
Loss before income taxes & adjustments for             
minority interest and equity earnings/(losses)            
in affiliates
$(221)
  
$22,846 
  
$(1,069)
  
             
Add (deduct):            
Fixed charges, from below
189 
  
63 
  
189 
  
Distributed earnings of affiliates
112 
  
- 
  
186 
  
Amortization of capitalized interest
- 
  
1 
  
4 
  
Interest capitalized
(2)
  
-
  
5
  
Loss as adjusted
$ 78
  
$22,910
  
$ (685)
  
             
             
Fixed charges:            
             
Interest expense, including capitalized amounts            
and amortization of debt costs
$ 138 
  
$ 41 
  
$ 113 
  
Portion of rental expense representative            
of the interest factor
51
  
22
  
76
  
Fixed charges
$ 189
  
$ 63
  
$ 189
  
             
             
Ratio of earnings to fixed charges
(a)
  
363.29
  
(a)
  

                        ______________

                        (a) Earnings were inadequate to cover fixed charges by $111 million in the two month period ended March 31, 2006
                             and $874 million in the first quarter of 2005.