Recently Issued Accounting Standards (Tables)

6 Months Ended

Jun. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of Adoption of Accounting Standards and Expected Impact on Financial Statements

The table below presents the impact of the adoption of the New Revenue Standard and the New Retirement Standard on select accounts and captions of the statement of consolidated operations for the three months ended June 30, 2017 (in millions, except per share amounts):



	Three Months Ended June 30, 2017
	As Previously Reported			New Revenue Standard Adjustments			New Retirement Standard Adjustments			As Adjusted
Passenger revenue	$	8,622		$	529		$	—		$	9,151
Cargo	254			19			—			273
Other operating revenue	1,124			(540		)	—			584
Total operating revenue	10,000			8			—			10,008

Salaries and related costs	2,868			—			(26		)	2,842
Distribution expenses	362			23			—			385
Other operating expenses	1,408			(27		)	—			1,381
Total operating expenses	8,601			(4		)	(26		)	8,571

Operating income	1,399			12			26			1,437

Interest expense	(158		)	(9		)	—			(167		)
Miscellaneous, net	(1		)	—			(26		)	(27		)
Total nonoperating expense, net	(125		)	(9		)	(26		)	(160		)

Income before income taxes	1,274			3			—			1,277
Income tax expense	456			—			—			456
Net income	818			3			—			821

Earnings per share, basic	2.67			—			—			2.67
Earnings per share, diluted	2.66			0.01			—			2.67

The table below presents the impact of the adoption of the New Revenue Standard and the New Retirement Standard on select accounts and captions of the statement of consolidated operations for the six months ended June 30, 2017 (in millions, except per share amounts):



	Six Months Ended June 30, 2017
	As Previously Reported			New Revenue Standard Adjustments			New Retirement Standard Adjustments			As Adjusted
Passenger revenue	$	15,796		$	1,008		$	—		$	16,804
Cargo	474			37			—			511
Other operating revenue	2,150			(1,031		)	—			1,119
Total operating revenue	18,420			14			—			18,434

Salaries and related costs	5,529			—			(51		)	5,478
Distribution expenses	669			35			—			704
Other operating expenses	2,740			(50		)	—			2,690
Total operating expenses	16,743			(15		)	(51		)	16,677

Operating income	1,677			29			51			1,757

Interest expense	(308		)	(21		)	—			(329		)
Miscellaneous, net	(18		)	—			(51		)	(69		)
Total nonoperating expense, net	(258		)	(21		)	(51		)	(330		)

Income before income taxes	1,419			8			—			1,427
Income tax expense	505			2			—			507
Net income	914			6			—			920

Earnings per share, basic	2.95			0.01			—			2.96
Earnings per share, diluted	2.94			0.02			—			2.96

The table below presents the impact of the adoption of the New Revenue Standard on UAL's balance sheet accounts and captions as of December 31, 2017 (in millions):



	At December 31, 2017
	As Previously Reported		New Revenue Standard Adjustments		As Adjusted
Prepaid expenses and other	$	1,051	$	20	$	1,071
Total current assets	7,113		20		7,133
Total assets	42,326		20		42,346



Advance ticket sales	3,876	64		3,940
Frequent flyer deferred revenue	2,176	16		2,192
Other	569	7		576
Total current liabilities	12,676	87		12,763

Frequent flyer deferred revenue - long-term	2,565	26		2,591
Deferred income taxes	225	(21	)	204
Total other liabilities and deferred credits	8,145	5		8,150

Retained earnings	4,621	(72	)	4,549
Total stockholders' equity	8,806	(72	)	8,734
Total liabilities and stockholders' equity	42,326	20		42,346