Stock Analysis on Net

United Airlines Holdings Inc. (NASDAQ:UAL)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 17, 2024.

Analysis of Debt

Microsoft Excel

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Total Debt (Carrying Amount)

United Airlines Holdings Inc., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current maturities of long-term debt
Current maturities of finance leases
Long-term debt, less current portion
Long-term obligations under finance leases
Total long-term debt and finance leases (carrying amount)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Total long-term debt and finance leases (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. United Airlines Holdings Inc. total debt decreased from 2021 to 2022 and from 2022 to 2023.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2023
Selected Financial Data (US$ in millions)
Long-term debt, including current portion
Finance leases
Total long-term debt and finance leases (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2023-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt and finance leases:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2023-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

United Airlines Holdings Inc., interest costs incurred

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Interest expense, net of interest capitalized
Interest capitalized
Interest expense

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Interest expense, net of interest capitalized Amount of the cost of borrowed funds accounted for as interest expense for debt. United Airlines Holdings Inc. interest expense, net of interest capitalized increased from 2021 to 2022 and from 2022 to 2023.
Interest capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. United Airlines Holdings Inc. interest capitalized increased from 2021 to 2022 and from 2022 to 2023.
Interest expense Total interest costs incurred during the period and either capitalized or charged against earnings. United Airlines Holdings Inc. interest expense increased from 2021 to 2022 and from 2022 to 2023.

Adjusted Interest Coverage Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss)
Add: Income tax expense
Add: Interest expense, net of interest capitalized
Earnings before interest and tax (EBIT)
 
Interest expense
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net of interest capitalized
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). United Airlines Holdings Inc. adjusted interest coverage ratio improved from 2021 to 2022 and from 2022 to 2023.