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Loss Per Share (Tables)
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share The computations of UAL's basic and diluted loss per share are set forth below (in millions, except per share amounts):
Three Months Ended March 31,
20212020
Loss available to common stockholders$(1,357)$(1,704)
Weighted-average shares outstanding, basic and diluted 316.6 248.5 
Loss per share, basic and diluted$(4.29)$(6.86)
Summary of Warrants Outstanding As of March 31, 2021, the Company had the following warrants outstanding:
Warrant DescriptionNumber of Shares of UAL Common Stock (in millions)Exercise PriceExpiration Dates
PSP1 Warrants (a)4.8 $31.50 4/20/20259/30/2025
CARES Act Loan Warrants (b)1.7 31.50 9/28/2025
PSP2 Warrants1.7 43.26 1/15/20263/8/2026
Total8.2 
(a)
Warrants issued in connection with the $1.5 billion 10-year senior unsecured promissory note with Treasury provided under the Payroll Support Program of the CARES Act ("PSP1").
(b)Warrants issued in connection with the CARES Act Loan.