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%
Receivables	2,391	2,163	1,898	1,801	1,663
Inventory	1,556	1,572	1,561	1,109	983
Prepaid Expenses	671	662	609	689	745
Restricted Cash	-	11	31	45	37
Other Current Assets	-1	-	-	-	-
Total Current Assets	16,857	18,883	18,487	20,058	21,834
Property, Plant & Equipment	51,079	43,296	40,179	35,517	34,504
Long-Term Investments	1,191	1,267	1,636	1,373	1,420
Goodwill	4,527	4,527	4,527	4,527	4,527
Other Intangible Assets	2,655	2,683	2,725	2,762	2,803
Long-Term Deferred Tax Assets	-	-	-	91	659
Other Long-Term Assets	139	3,427	3,550	3,030	2,428
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	3,230	4,247	2,934	3,836
Current Portion of Leases	631	690	576	665	632
Current Unearned Revenue	11,852	10,964	9,799	10,248	8,593
Other Current Liabilities	757	948	806	779	560
Total Current Liabilities	26,133	23,314	22,203	19,992	18,304
Long-Term Debt	20,562	25,135	27,413	29,127	31,224
Long-Term Leases	5,417	4,578	4,503	4,574	5,371
Long-Term Unearned Revenue	4,056	4,038	4,048	3,982	4,043
Pension & Post-Retirement Benefits	1,058	1,233	1,605	1,418	2,920
Long-Term Deferred Tax Liabilities	2,463	1,580	594	-	-
Other Long-Term Liabilities	1,477	1,530	1,414	1,369	1,284
Total Liabilities	61,166	61,408	61,780	60,462	63,146
Common Stock	15,282	4	4	4	4
Additional Paid-In Capital	-	8,980	8,992	8,986	9,156
Retained Earnings	-	6,880	3,831	1,265	625
Treasury Stock	-	-3,377	-3,441	-3,534	-3,814
Comprehensive Income & Other	-	188	-62	175	-942
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	37,300	41,063
Net Cash (Debt)	-18,796	-19,158	-22,351	-20,886	-22,657
Net Cash Per Share	-57.22	-57.50	-67.34	-63.27	-70.39
Filing Date Shares Outstanding	327	327.34	328.03	327.09	324.63
Total Common Shares Outstanding	327	327.9	328.02	326.93	323.81
Working Capital	-9,276	-4,431	-3,716	66	3,530
Book Value Per Share	46.73	38.66	28.43	21.09	15.53
Tangible Book Value	8,100	5,465	2,072	-393	-2,301
Tangible Book Value Per Share	24.77	16.67	6.32	-1.20	-7.11
Machinery	-	52,696	48,448	42,775	39,584

Source: S&P Global Market Intelligence. Standard template. Financial Sources.