Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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United Airlines Holdings Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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United Airlines Holdings Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
- Cash and cash equivalents
- The cash reserves increased significantly from 11,269 million USD at the end of 2020 to a peak of 18,283 million USD in 2021. However, there was a sharp decline to 7,166 million USD in 2022, followed by further decreases to 6,058 million USD in 2023. A partial recovery to 8,769 million USD occurred by 2024.
- Short-term investments
- This category experienced notable fluctuations, starting at 414 million USD in 2020 and dropping to 123 million USD in 2021. It then surged dramatically to 9,248 million USD in 2022 and slightly decreased in subsequent years to 8,330 million USD in 2023 and 5,706 million USD in 2024.
- Receivables, net
- Receivables showed steady growth across the five-year period, increasing from 1,295 million USD in 2020 to 2,163 million USD by 2024, indicating improving collections or higher credit sales.
- Aircraft fuel, spare parts and supplies, net
- There was a consistent upward trend, with the value rising from 932 million USD in 2020 to 1,572 million USD in 2024. The notable jump occurred between 2022 and 2023, reflecting potential increased operational activity or inventory build-up.
- Prepaid expenses and other
- This item decreased from 890 million USD in 2020 to 640 million USD in 2023, followed by a slight recovery to 673 million USD in 2024, suggesting a reduction in advance payments or other current asset components over time.
- Current assets
- Current assets peaked sharply at 21,834 million USD in 2021, followed by a decline to 20,058 million USD in 2022 and a further gradual decrease to 18,487 million USD in 2023. A minor increase to 18,883 million USD was seen in 2024. This trend reflects the volatility seen in cash and short-term investments.
- Operating property and equipment, net
- This category steadily grew from 31,466 million USD in 2020 to 42,908 million USD in 2024. The increase was particularly pronounced from 2022 onward, highlighting ongoing investment or expansion of fixed assets.
- Operating lease right-of-use assets
- The right-of-use assets related to operating leases showed a slight decline over the period, from 4,537 million USD in 2020 to 3,815 million USD in 2024, indicating possibly reduced leasing commitments or changes in lease agreements.
- Goodwill
- Goodwill remained unchanged at 4,527 million USD throughout the five years, suggesting no significant acquisitions or impairments affecting this asset.
- Intangible assets, net
- There was a gradual decrease in net intangible assets from 2,838 million USD in 2020 to 2,683 million USD in 2024, reflecting amortization or asset write-downs over time.
- Deferred income taxes
- Values were inconsistent, with a notable increase to 659 million USD in 2021, but data for 2023 and 2024 was missing, limiting thorough analysis. The fluctuations may reflect tax strategy changes or timing differences in income recognition.
- Investments in affiliates and other, net
- This line increased from 1,249 million USD in 2020 to 1,633 million USD in 2021, then exhibited modest fluctuations, declining to 1,267 million USD in 2024, indicating minor revaluation or disposals of investments.
- Noncurrent assets
- Noncurrent assets grew steadily from 44,748 million USD in 2020 to 55,200 million USD in 2024, with significant increases noticed especially after 2022, reflecting ongoing capital investments or asset acquisitions.
- Total assets
- Total assets increased consistently from 59,548 million USD in 2020 to 74,083 million USD in 2024. This overall growth is primarily driven by increases in property, equipment, and other noncurrent assets, along with volatility in current assets.