Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) 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):

	2023		2022		2021
Earnings (loss) available to common stockholders	$	2,618	$	737	$	(1,964)
Basic weighted-average shares outstanding	327.8		326.4		321.9
Dilutive effect of stock warrants (a)	2.2		1.5		—
Dilutive effect of employee stock awards	1.9		2.2		—
Diluted weighted-average shares outstanding	331.9		330.1		321.9
Earnings (loss) per share, basic	$	7.98	$	2.26	$	(6.10)
Earnings (loss) per share, diluted	$	7.89	$	2.23	$	(6.10)
Potentially dilutive securities (b)
Stock warrants (a)	1.5		3.5		0.9
Employee stock awards	0.6		0.7		0.7

(a) 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.

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