Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

United Airlines Holdings Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Passenger revenue	49,046)	40,032)	20,197)	11,805)	39,625)
Cargo	1,495)	2,171)	2,349)	1,648)	1,179)
Other operating revenue	3,176)	2,752)	2,088)	1,902)	2,455)
Operating revenue	53,717)	44,955)	24,634)	15,355)	43,259)
Salaries and related costs	(14,787)	(11,466)	(9,566)	(9,522)	(12,071)
Aircraft fuel	(12,651)	(13,113)	(5,755)	(3,153)	(8,953)
Landing fees and other rent	(3,076)	(2,576)	(2,416)	(2,127)	(2,543)
Aircraft maintenance materials and outside repairs	(2,736)	(2,153)	(1,316)	(858)	(1,794)
Depreciation and amortization	(2,671)	(2,456)	(2,485)	(2,488)	(2,288)
Regional capacity purchase	(2,400)	(2,299)	(2,147)	(2,039)	(2,849)
Distribution expenses	(1,977)	(1,535)	(677)	(459)	(1,651)
Aircraft rent	(197)	(252)	(228)	(198)	(288)
Labor contract ratification bonuses	(814)	—)	—)	—)	—)
CARES Act grant	—)	—)	4,021)	3,536)	—)
Severance and benefit costs	—)	—)	(438)	(575)	(16)
Impairment of assets	—)	—)	(97)	(318)	(171)
Gains (losses) on sale of assets and other special charges	(135)	(140)	(119)	(27)	(59)
Special (charges) credits	(949)	(140)	3,367)	2,616)	(246)
Other operating expenses	(8,062)	(6,628)	(4,433)	(3,486)	(6,275)
Operating expense	(49,506)	(42,618)	(25,656)	(21,714)	(38,958)
Operating income (loss)	4,211)	2,337)	(1,022)	(6,359)	4,301)
Interest expense, net of interest capitalized	(1,774)	(1,673)	(1,577)	(992)	(646)
Interest income	827)	298)	36)	50)	133)
Unrealized gains (losses) on investments, net	27)	20)	(34)	(194)	153)
Miscellaneous, net	96)	8)	40)	(1,327)	(27)
Nonoperating expense, net	(824)	(1,347)	(1,535)	(2,463)	(387)
Income (loss) before income taxes	3,387)	990)	(2,557)	(8,822)	3,914)
Income tax (expense) benefit	(769)	(253)	593)	1,753)	(905)
Net income (loss)	2,618)	737)	(1,964)	(7,069)	3,009)

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).

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Income statement item	Description	The company
Operating revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	United Airlines Holdings Inc. operating revenue increased from 2021 to 2022 and from 2022 to 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	United Airlines Holdings Inc. operating income (loss) increased from 2021 to 2022 and from 2022 to 2023.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	United Airlines Holdings Inc. income (loss) before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	United Airlines Holdings Inc. net income (loss) increased from 2021 to 2022 and from 2022 to 2023.

United Airlines Holdings Inc. (NASDAQ:UAL)

Income Statement