Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Computation of Earnings Per Share

The computations of UAL's basic and diluted earnings (loss) per share are set forth below for the years ended December 31 (in millions, except per share amounts):

	2022		2021		2020
Earnings (loss) available to common stockholders	$	737	$	(1,964)	$	(7,069)
Basic weighted-average shares outstanding	326.4		321.9		279.4
Dilutive effect of employee stock awards	2.2		—		—
Dilutive effect of stock warrants	1.5		—		—
Diluted weighted-average shares outstanding	330.1		321.9		279.4
Earnings (loss) per share, basic	$	2.26	$	(6.10)	$	(25.30)
Earnings (loss) per share, diluted	$	2.23	$	(6.10)	$	(25.30)
Potentially dilutive securities (a)
Stock warrants (b)	3.5		0.9		—
Employee stock awards	0.7		0.7		1.0

(a) Weighted-average potentially dilutive securities outstanding excluded from the computation of diluted earnings per share because the securities would have had an antidilutive effect.

(b) Represent warrants issued to Treasury pursuant to the payroll support program, including extensions, and the loan program established under the CARES Act. See Note 2 of this report for additional information about these warrants.