Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Share-Based Compensation Plan Cost

The following table provides information related to UAL’s share-based compensation plan cost, for the years ended December 31 (in millions):

	2012		2011		2010
Compensation cost: (a)
Restricted stock units	$	37	$	18	$	20
Restricted stock		13		12		6
Share-based awards converted to cash awards (b)		6		19		84
Stock options		1		5		7
Total	$	57	$	54	$	117

(a) All compensation cost is recorded to Salaries and related costs, with the exception of $9 million, $17 million and $70 million in 2012, 2011 and 2010, respectively, that was recorded in integration and Merger-related costs as a component of special charges, respectively.

(b) As described below, in connection with the Merger, certain awards were converted into fixed cash equivalents.

Schedule of Unearned Compensation and Weighted Average Remaining Period for Outstanding Share-Based Awards

The table below summarizes UAL’s unearned compensation and weighted-average remaining period to recognize costs for all outstanding share-based awards for the year ended December 31, 2012 (in millions, except as noted):

	Unearned Compensation		Weighted- Average Remaining Period (in years)
Restricted stock units	$	24		1.1
Restricted stock		7		1.4
Share-based awards converted to cash awards		1		0.2
Stock options		1		1.2
Total	$	33

Stock Option Activity

The table below summarizes UAL stock option activity for the years ended December 31, 2012, 2011 and 2010 (shares in thousands):

	Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic  Value (in millions)
Outstanding at January 1, 2010		6,406		$	22.42
Issued in exchange for Continental options		7,366			16.77
Exercised		(2,467	)		8.13			$	42
Surrendered		(253	)		28.77
Outstanding at December 31, 2010		11,052			21.70
Exercised		(2,449	)		10.77				33
Surrendered		(1,657	)		29.07
Outstanding at December 31, 2011		6,946			23.80
Exercised		(1,327	)		12.42				14
Surrendered		(1,012	)		30.50
Outstanding at December 31, 2012		4,607			25.60		2.9		20
Exercisable at December 31, 2012		4,358			25.76		2.9		20

Schedule of Additional Information for Options Granted

The following table provides additional information for Continental options granted in 2010 which were valued at the Merger date:

Weighted-average fair value assumptions:	2010
Risk-free interest rate		0.1 -  1.8	%
Dividend yield		—	%
Expected market price volatility of UAL common stock		75	%
Expected life of options (years)		0.1 - 6.3
Weighted-average fair value	$	11.52

Schedule Of Restricted Stock Unit and Restricted Stock Activity

The table below summarizes UAL’s RSU and restricted stock activity for the years ended December 31, 2012, 2011 and 2010 (shares in thousands):

	Restricted Stock Units			Weighted- Average Grant Price		Restricted Stock			Weighted- Average Grant Price
Non-vested at January 1, 2010		1,719		$	4.90		811		$	27.82
Assumed in Merger		—			—		20			23.66
Granted		1,395			22.20		212			24.55
Modified		(449	)		21.63		449			21.63
Converted to fixed cash equivalent		(1,496	)		—		(164	)		—
Vested		(1,069	)		22.41		(651	)		31.47
Surrendered		(49	)		10.55		(6	)		11.03
Non-vested at December 31, 2010		51			22.85		671			17.20
Granted		3,655			19.89		536			23.87
Vested		(141	)		18.13		(195	)		22.26
Surrendered		(199	)		19.90		(27	)		23.95
Non-vested at December 31, 2011		3,366			19.98		985			23.33
Granted		1,986			22.20		545			24.01
Vested		(552	)		21.21		(643	)		23.05
Surrendered		(569	)		22.19		(115	)		24.01
Non-vested at December 31, 2012		4,231			22.22		772			23.94