EX-12.2 7 d471340dex122.htm EX-12.2 EX-12.2

Exhibit 12.2

United Airlines, Inc. and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges

 

(In millions, except ratios)    2017     2016     2015     2014     2013  

Earnings:

           

Earnings before income taxes

    $ 3,001     $ 3,822     $ 4,221     $ 1,110     $ 637  

Add (deduct):

           

Fixed charges, from below

      1,389       1,370       1,429       1,655       1,627  

Amortization of capitalized interest

      9       11       12       12       11  

Distributed earnings of affiliates

      —         1       1       1       —    

Interest capitalized

      (84 )      (72 )      (49 )      (52 )      (49 ) 

Equity earnings in affiliates

      (4 )      —         (2 )      (1 )      (1 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings as adjusted

    $ 4,311     $ 5,132     $ 5,612     $ 2,725     $ 2,225  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges:

           

Interest expense

    $ 643     $ 614     $ 670     $ 742     $ 781  

Portion of rent expense representative of the interest factor (a)

      746       756       759       913       846  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

    $ 1,389     $ 1,370     $ 1,429     $ 1,655     $ 1,627  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      3.10       3.75       3.93       1.65       1.37  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Imputed interest applied to rent expense.