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

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