Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2016

Computation of Earnings Per Share

The computations of UAL’s basic and diluted earnings per share are set forth below (in millions, except per share amounts):

	Three Months Ended March 31,
	2016		2015
Basic earnings per share:
Earnings available to common stockholders	$	313	$	508
Basic weighted-average shares outstanding		354		382
Earnings per share, basic	$	0.88	$	1.33
Diluted earnings per share:
Earnings available to common stockholders including the effect of dilutive securities	$	313	$	508
Diluted shares outstanding:
Basic weighted-average shares outstanding		354		382
Effect of convertible notes		—		1
Effect of employee stock awards		1		1
Diluted weighted-average shares outstanding		355		384
Earnings per share, diluted	$	0.88	$	1.32