Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share

NOTE 4 - EARNINGS PER SHARE

The computations of UAL’s basic and diluted earnings per share are set forth below for the years ended December 31 (in millions, except per share amounts):

	2016		2015		2014
Basic earnings per share:
Earnings available to common stockholders	$	2,263	$	7,340	$	1,132
Basic weighted-average shares outstanding		329.9		376.1		371.1
Earnings per share, basic	$	6.86	$	19.52	$	3.05
Diluted earnings per share:
Earnings available to common stockholders	$	2,263	$	7,340	$	1,132
Effect of dilutive securities		—		—		11
Earnings available to common stockholders including the effect of dilutive securities	$	2,263	$	7,340	$	1,143
Diluted shares outstanding:
Basic weighted-average shares outstanding		329.9		376.1		371.1
Effect of convertible notes		—		0.3		17.7
Effect of employee stock awards		0.4		0.5		0.9
Diluted weighted-average shares outstanding		330.3		376.9		389.7
Earnings per share, diluted	$	6.85	$	19.47	$	2.93

The number of antidilutive securities excluded from the computation of diluted earnings per share amounts was not material.