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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Computation of Basic and Diluted Earnings Per Share | The following table shows the computation of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of UAL's potential common stock (in millions, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Earnings available to common stockholders | $ | 965 |  |  | $ | 1,137 |  |  | $ | 2,164 |  |  | $ | 2,018 |
Basic weighted-average shares outstanding | 329.0 |  |  | 328.0 |  |  | 328.7 |  |  | 327.8 |
Dilutive effect of stock Warrants (a) | 0.9 |  |  | 2.7 |  |  | 1.8 |  |  | 2.5 |
Dilutive effect of employee stock awards | 2.8 |  |  | 1.7 |  |  | 2.8 |  |  | 1.5 |
Diluted weighted-average shares outstanding | 332.7 |  |  | 332.4 |  |  | 333.3 |  |  | 331.8 |
Earnings per share, basic | $ | 2.93 |  |  | $ | 3.47 |  |  | $ | 6.58 |  |  | $ | 6.16 |
Earnings per share, diluted | $ | 2.90 |  |  | $ | 3.42 |  |  | $ | 6.49 |  |  | $ | 6.08 |
Potentially dilutive securities (b) |  |  |  |  |  |  |
Stock Warrants (a) | 1.5 |  |  | 1.5 |  |  | 1.5 |  |  | 1.5 |
Employee stock awards | 0.7 |  |  | 0.6 |  |  | 0.5 |  |  | 0.6 |
(a) See discussion below for more information about these Warrants.
(b) Weighted-average potentially dilutive securities outstanding are excluded from the computation of diluted earnings per share because the securities would have an antidilutive effect.
Schedule of Warrants Outstanding | As of September 30, 2024, the Company had the below Warrants outstanding:
Warrant Description |  | Number of Shares of UAL Common Stock |  | Exercise Price |  | Expiration Dates
PSP2 Warrants |  | 2,011,924 |  |  | $ | 43.26 |  |  | 1/15/2026 | — | 4/29/2026
PSP3 Warrants |  | 1,501,790 |  |  | 53.92 |  |  | 4/29/2026 | — | 6/10/2026
Total |  | 3,513,714 |  |  |  |  |  |  |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 + Details
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