Selected Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2015


UAL	Quarter Ended
(In millions, except per share amounts)	March 31		June 30		September 30		December 31
2015
Operating revenue	$	8,608	$	9,914	$	10,306	$	9,036
Income from operations		741		1,445		1,899		1,081
Net income		508		1,193		4,816		823
Basic earnings per share		1.33		3.14		12.83		2.24
Diluted earnings per share		1.32		3.14		12.82		2.24
2014
Operating revenue	$	8,696	$	10,329	$	10,563	$	9,313
Income (loss) from operations		(349)		906		1,191		625
Net income (loss)		(609)		789		924		28
Basic earnings (loss) per share		(1.66)		2.11		2.49		0.08
Diluted earnings (loss) per share		(1.66)		2.01		2.37		0.07

UAL’s quarterly results were impacted by the following significant items (in millions):


	Quarter Ended
	March 31		June 30		September 30		December 31
2015
Operating:
Severance and benefit costs	$	50	$	25	$	28	$	4
Impairment of assets		2		11		18		48
Integration-related costs		18		14		15		13
(Gains) losses on sale of assets and other miscellaneous (gains) losses, net		(6)		5		15		66

Special charges		64		55		76		131
Nonoperating and income taxes:
Loss on extinguishment of debt and other, net		6		128		61		7
Income tax benefit related to special charges		—		—		—		(11)
Income tax expense (benefit) associated with valuation allowance release		—		—		(3,218)		88

Total operating and nonoperating special items, net of income taxes	$	70	$	183	$	(3,081)	$	215

2014
Operating:
Severance and benefit costs	$	14	$	38	$	6	$	141
Impairment of assets		1		32		—		16
Integration-related costs		34		17		28		17
Costs associated with permanently grounding Embraer ERJ 135 aircraft		—		66		—		—
Losses on sale of assets and other special (gains) losses, net		3		16		9		5

Special charges		52		169		43		179
Nonoperating and income taxes:
Loss on extinguishment of debt and other, net		21		—		—		53
Income tax benefit related to special charges		(1)		—		(3)		(6)

Total operating and nonoperating special charges, net of income taxes	$	72	$	169	$	40	$	226