Stock Analysis on Net

United Airlines Holdings Inc. (NASDAQ:UAL)

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

United Airlines Holdings Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Accounts payable 4,694 4,193 4,008 4,478 4,344 3,835 4,206 4,172 3,858 3,395 3,534 3,755 2,966 2,562 2,199 2,218 1,838 1,595 1,831 1,725 2,436
Accrued salaries and benefits 2,394 3,289 2,802 2,383 2,128 2,940 3,815 3,223 1,970 1,971 1,841 1,943 2,008 2,121 2,207 2,228 2,267 1,960 1,994 1,669 1,647
Advance ticket sales 10,477 7,561 8,477 9,365 9,601 6,704 8,392 10,102 10,158 7,555 8,747 9,931 8,904 6,354 6,363 6,960 5,502 4,833 4,907 4,950 5,309
Frequent flyer deferred revenue 3,473 3,403 3,314 3,252 3,086 3,095 2,969 2,841 2,832 2,693 2,642 2,590 2,516 2,239 2,129 2,099 1,251 908 772 840 1,355
Current maturities of long-term debt, finance leases, and other financial liabilities 3,265 3,453 3,435 4,935 4,138 4,247 3,964 3,840 3,310 3,038 3,933 4,004 4,243 3,912 2,385 2,025 1,962 2,093 4,720 4,547 4,114
Current maturities of operating leases 506 467 491 548 557 576 598 571 610 561 546 543 538 556 569 583 623 612 623 598 688
Payroll Support Program deferred credit 1,132 1,508
Other 989 948 838 894 910 806 812 826 897 779 746 678 613 560 1,083 819 724 724 944 558 538
Current liabilities 25,798 23,314 23,365 25,855 24,764 22,203 24,756 25,575 23,635 19,992 21,989 23,444 21,788 18,304 16,935 18,064 14,167 12,725 15,791 16,395 16,087
Long-term debt, finance leases, and other financial liabilities, less current portion 24,398 25,203 25,001 24,328 25,632 27,413 27,651 28,326 28,695 29,242 29,094 29,876 30,374 31,443 33,176 34,236 27,657 26,200 23,532 14,634 13,567
Long-term obligations under operating leases 4,756 4,510 4,432 4,443 4,517 4,503 4,493 4,607 4,569 4,459 4,803 4,997 5,143 5,152 5,163 4,920 4,985 4,986 4,943 5,113 5,060
Frequent flyer deferred revenue 4,118 4,038 4,057 4,101 4,193 4,048 4,107 4,183 4,028 3,982 3,936 3,905 3,901 4,043 4,088 4,086 4,858 5,067 5,063 4,830 4,133
Pension and postretirement benefit liability 1,252 1,233 1,624 1,610 1,610 1,605 1,421 1,445 1,436 1,418 2,894 2,898 2,915 2,920 3,141 3,489 3,491 3,454 3,294 3,178 2,289
Deferred income taxes 1,624 1,580 1,224 951 545 594 472 133 389 804 1,322
Other 1,549 1,530 1,500 1,440 1,453 1,414 1,400 1,367 1,386 1,369 1,354 1,297 1,293 1,284 1,360 1,350 1,298 1,156 1,174 1,430 1,179
Noncurrent liabilities 37,697 38,094 37,838 36,873 37,950 39,577 39,544 40,061 40,114 40,470 42,081 42,973 43,626 44,842 46,928 48,081 42,289 40,863 38,395 29,989 27,550
Total liabilities 63,495 61,408 61,203 62,728 62,714 61,780 64,300 65,636 63,749 60,462 64,070 66,417 65,414 63,146 63,863 66,145 56,456 53,588 54,186 46,384 43,637
Preferred stock
Common stock at par, $0.01 par value 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 3 3 3
Additional capital invested 8,813 8,980 8,945 9,001 8,973 8,992 8,968 8,945 8,926 8,986 8,970 8,970 8,953 9,156 9,094 9,042 8,923 8,366 7,383 7,307 6,096
Stock held in treasury, at cost (3,502) (3,377) (3,299) (3,368) (3,372) (3,441) (3,442) (3,442) (3,443) (3,534) (3,533) (3,551) (3,552) (3,814) (3,814) (3,832) (3,834) (3,897) (3,898) (3,899) (3,901)
Retained earnings (accumulated deficit) 7,137 6,880 5,896 4,986 3,664 3,831 3,232 2,095 1,020 1,265 421 (515) (844) 625 1,271 804 1,239 2,626 4,524 6,365 7,991
Accumulated other comprehensive income (loss) 164 188 (109) (97) (81) (62) 91 103 161 175 (964) (944) (937) (942) (1,124) (1,114) (1,126) (1,139) (1,009) (1,259) (771)
Stockholders’ equity 12,616 12,675 11,437 10,526 9,188 9,324 8,853 7,705 6,668 6,896 4,898 3,964 3,624 5,029 5,431 4,904 5,206 5,960 7,003 8,517 9,418
Total liabilities and stockholders’ equity 76,111 74,083 72,640 73,254 71,902 71,104 73,153 73,341 70,417 67,358 68,968 70,381 69,038 68,175 69,294 71,049 61,662 59,548 61,189 54,901 53,055

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. United Airlines Holdings Inc. current liabilities decreased from Q3 2024 to Q4 2024 but then increased from Q4 2024 to Q1 2025 exceeding Q3 2024 level.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. United Airlines Holdings Inc. noncurrent liabilities increased from Q3 2024 to Q4 2024 but then decreased significantly from Q4 2024 to Q1 2025.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. United Airlines Holdings Inc. total liabilities increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Stockholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. United Airlines Holdings Inc. stockholders’ equity increased from Q3 2024 to Q4 2024 but then slightly decreased from Q4 2024 to Q1 2025.