XML 45 R21.htm IDEA: XBRL DOCUMENT v3.21.2
Earnings (Loss) Per Share (Tables)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share The computations of UAL's basic and diluted earnings (loss) per share are set forth below (in millions, except per share amounts):
Three Months Ended
September 30,
Nine Months Ended
 September 30,
2021202020212020
Earnings (loss) available to common stockholders$473 $(1,841)$(1,318)$(5,172)
Basic weighted-average shares outstanding323.7 291.0 321.3 273.5 
Dilutive effect of employee stock awards3.0 — — — 
Dilutive effect of stock warrants2.3 — — — 
Diluted weighted-average shares outstanding329.0 291.0 321.3 273.5 
Earnings (loss) per share, basic$1.46 $(6.33)$(4.10)$(18.91)
Earnings (loss) per share, diluted$1.44 $(6.33)$(4.10)$(18.91)
Summary of Warrants Outstanding As of September 30, 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 Warrants1.7 31.50 9/28/2025
PSP2 Warrants2.0 43.26 1/15/20264/29/2026
PSP3 Warrants1.5 53.92 4/29/20266/10/2026
Total10.0 
(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").