Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2013

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


	2013		2012		2011
Basic earnings (loss) per share:
Net income (loss)	$	571	$	(723)	$	840
Less: Income allocable to participating securities		(2)		—		(3)

Earnings (loss) available to common stockholders	$	569	$	(723)	$	837


Basic weighted-average shares outstanding		348		331		329

Earnings (loss) per share, basic	$	1.64	$	(2.18)	$	2.54


Diluted earnings (loss) per share:
Earnings (loss) available to common stockholders	$	569	$	(723)	$	837
Effect of dilutive securities		26		—		27

Earnings (loss) available to common stockholders including the effect of dilutive securities	$	595	$	(723)	$	864


Diluted shares outstanding:
Basic weighted-average shares outstanding		348		331		329
Effect of convertible notes		42		—		52
Effect of employee stock options		—		—		2

Diluted weighted-average shares outstanding		390		331		383

Earnings (loss) per share, diluted	$	1.53	$	(2.18)	$	2.26


Potentially dilutive shares excluded from diluted per share amounts:
Restricted stock and stock options		3		5		6
Convertible notes		4		61		15

		7		66		21