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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Components of Income Tax Expense (Benefit)

The significant components of the income tax expense (benefit) are as follows (in millions):

2016		UAL				United
Current		$	(92)			$	(92)
Deferred			1,648				1,650
		$	1,556			$	1,558
2015
Current		$	56			$	56
Deferred			(3,177)				(3,136)
		$	(3,121)			$	(3,080)
2014
Current		$	(17)			$	(17)
Deferred			13				13
		$	(4)			$	(4)

Income Tax Provision Differed from Amounts Computed at Statutory Federal Income Tax Rate

The income tax provision differed from amounts computed at the statutory federal income tax rate, as follows (in millions):

UAL		2016				2015				2014
Income tax provision at statutory rate		$	1,337			$	1,477			$	395
State income taxes, net of federal income tax			38				38				10
Foreign income taxes			3				4				2
Nondeductible employee meals			16				15				15
Income tax adjustment			180				—				—
State rate change			(12)				—				—
Valuation allowance			20				(4,662)				(435)
Other, net			(26)				7				9
		$	1,556			$	(3,121)			$	(4)
United		2016				2015				2014
Income tax provision at statutory rate		$	1,338			$	1,477			$	388
State income taxes, net of federal income tax			38				38				10
Foreign income taxes			3				4				2
Nondeductible employee meals			16				15				15
Derivative market adjustment			—				—				(7)
Income tax adjustment			180				—				—
State rate change			(12)				—				—
Valuation allowance			20				(4,621)				(421)
Other, net			(25)				7				9
		$	1,558			$	(3,080)			$	(4)

Components of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows (in millions):

		UAL								United
		December 31,								December 31,
		2016				2015				2016				2015
Deferred income tax asset (liability):
Federal and state net operating loss (“NOL”) carryforwards		$	1,613			$	2,897			$	1,571			$	2,855
Deferred revenue			2,096				2,160				2,096				2,160
Employee benefits, including pension, postretirement and medical			1,662				1,662				1,662				1,662
Alternative minimum tax (“AMT”) credit carryforwards			116				232				116				232
Other			523				566				522				566
Less: Valuation allowance			(68)				(48)				(68)				(48)
Total deferred tax assets		$	5,942			$	7,469			$	5,899			$	7,427
Depreciation		$	(3,961)			$	(3,921)			$	(3,961)			$	(3,921)
Intangibles			(1,326)				(1,511)				(1,326)				(1,511)
Total deferred tax liabilities		$	(5,287)			$	(5,432)			$	(5,287)			$	(5,432)
Net deferred tax asset		$	655			$	2,037			$	612			$	1,995

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

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X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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