United Airlines Holdings Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	5,942	8,769	6,058	7,166	18,283
Short-Term Investments	6,298	5,706	8,330	9,248	123
Cash & Short-Term Investments	12,240	14,475	14,388	16,414	18,406
Cash Growth	-15.44%	0.60%	-12.34%	-10.82%	57.55%
Accounts Receivable	2,391	2,163	1,898	1,801	1,663
Inventory	1,556	1,572	1,561	1,109	983
Other Current Assets	671	673	640	734	782
Total Current Assets	16,857	18,883	18,487	20,058	21,834
Net Property, Plant & Equipment	51,079	46,723	43,729	38,337	36,719
Other Intangible Assets	2,655	2,683	2,725	2,762	2,803
Goodwill	4,527	4,527	4,527	4,527	4,527
Long-Term Investments	1,330	1,267	1,636	1,373	1,420
Other Long-Term Assets	-	-	-	3,121	3,087
Total Assets	76,448	74,083	71,104	67,358	68,175
Accounts Payable	4,567	4,193	3,835	3,395	2,562
Accrued Expenses	3,900	3,289	2,940	1,971	2,121
Current Portion of Long-Term Debt	4,426	3,453	4,247	2,911	3,002
Current Portion of Leases	631	467	576	665	632
Unearned Revenue	8,131	7,561	9,799	10,248	8,593
Other Current Liabilities	-	-	806	802	1,394
Total Current Liabilities	26,133	23,314	22,203	19,992	18,304
Long-Term Debt	20,562	25,203	27,413	28,283	30,361
Long-Term Leases	5,417	4,510	4,503	4,574	5,372
Other Long-Term Liabilities	12,776	11,784	7,661	7,613	9,110
Total Long-Term Liabilities	35,033	38,094	39,577	40,470	44,843
Total Liabilities	61,166	61,408	61,780	60,462	63,147
Common Stock	4	4	4	4	4
Treasury Stock	-3,773	-3,377	-3,441	-3,534	-3,814
Additional Paid-in Capital	8,911	8,980	8,992	8,986	9,156
Accumulated Other Comprehensive Income	48	188	-62	175	-942
Retained Earnings	10,092	6,880	3,831	1,265	625
Shareholders' Equity	15,282	12,675	9,324	6,896	5,029
Total Liabilities & Equity	76,448	74,083	71,104	67,358	68,175
Total Debt	31,036	33,633	36,739	36,433	39,367
Net Cash (Debt)	-18,796	-19,158	-22,351	-20,019	-20,961
Net Cash Per Share	-57.22	-57.50	-67.34	-60.65	-65.12
Book Value	15,282	12,675	9,324	6,896	5,029
Book Value Per Share	46.52	38.04	28.09	20.89	15.62
Tangible Book Value	8,100	5,465	2,072	-393	-2,301
Tangible Book Value Per Share	24.66	16.40	6.24	-1.19	-7.15

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.