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United Airlines Holdings, Inc. (UAL)
NASDAQ: UAL · Real-Time Price · USD
117.41
+3.84 (3.38%)
At close: Aug 25, 2026, 4:00 PM EDT
117.83
+0.42 (0.36%)
After-hours: Aug 25, 2026, 6:10 PM EDT

United Airlines Holdings Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Net Income
8056991,0449489743879859651,323-1246001,1371,075-194843942329-1,377-646473
Depreciation & Amortization
762756469730734727429742719708516663669655458610611611437623
Other Amortization
--237---321---307---322---353-
Asset Writedown & Restructuring Costs
------------------97-
Loss (Gain) From Sale of Investments
---4---199----27----20---34-
Other Operating Activities
433,344-1,650-4605092,596-1,611-2098332,264-2,970-9202,0552,681-2,700-8111,7512,242-2,214-1,882
Change in Accounts Receivable
---297---280----100----158----448-
Change in Accounts Payable
--674---178---572---796---985-
Change in Unearned Revenue
--906---1,155----383---1,593---1,828-
Change in Other Net Operating Assets
---93---288---575---24----695-
Operating Cash Flow
1,6104,7991,2861,2182,2173,7102,2241,4982,8752,848-9108803,7993,1421,1587412,6911,476-269-786
Operating Cash Flow Growth (YoY)
-27.38%29.35%-42.18%-18.69%-22.89%30.27%-70.23%-24.32%-9.36%-18.76%41.17%112.87%--0.60%230.20%--

Investing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Capital Expenditures
-1,343-1,672-1,890-1,464-1,287-1,233-1,675-1,410-1,164-1,366-2,066-1,842-1,420-1,843-2,539-1,328-550-402-536-266
Sale of Property, Plant & Equipment
2493515192943242220191181234672668212
Investment in Securities
-173-87321-300-277-223-297-9171,2752,7911,310-87-42-132-1,825-4,236-2,993-9410540
Other Investing Activities
32-144-316-35-35214-2081-4-6-18-56-46-10-13-1-
Investing Cash Flow
-1,460-1,894-1,565-1,743-1,580-1,462-1,715-2,5111341,441-743-1,936-1,459-1,968-4,387-5,528-3,484-430-348-214

Financing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Long-Term Debt Issued
-2,233-------3,111---288------
Total Debt Issued
3,5962,23393485--8371,5846073,111703941,303288526-2212--2-18
Long-Term Debt Repaid
--3,092----1,014----5,031----820----783--
Total Debt Repaid
-1,445-3,092-575-2,585-597-1,014-1,346-2,575-1,186-5,031-825-809-1,794-820-1,406-810-1,012-783-573-560
Net Debt Issued (Repaid)
2,151-859-482-2,100-597-1,014-509-991-579-1,920-122-715-491-532-880-812-800-783-575-578
Repurchase of Common Stock
--27-27-21-240-349-80-82------------
Other Financing Activities
-3-90--15-6-94-2--1-18-1---313-62-73--5
Financing Cash Flow
2,148-976-509-2,136-843-1,457-591-1,073-580-1,938-123-715-491-563-877-818-798-856-575-583

Net Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Miscellaneous Cash Flow Adjustments
-11-21----------------
Net Cash Flow
2,2971,930-790-2,660-206791-82-2,0862,4292,351-1,776-1,7711,849611-4,106-5,605-1,591190-1,192-1,583

Free Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Free Cash Flow
2673,127-604-2469302,477549881,7111,482-2,976-9622,3791,299-1,381-5872,1411,074-805-1,052
Free Cash Flow Growth (YoY)
-71.29%26.24%---45.65%67.14%---28.08%14.09%--11.12%20.95%--18.03%35700.00%--
Free Cash Flow Margin
1.51%21.41%-3.92%-1.62%6.10%18.75%3.74%0.59%11.42%11.82%-21.84%-6.64%16.78%11.37%-11.14%-4.56%17.68%14.19%-9.83%-13.57%
Free Cash Flow Per Share
0.829.57-1.85-0.752.847.441.640.275.124.51-8.98-2.897.183.97-4.18-1.786.483.31-2.49-3.20
Levered Free Cash Flow
46.752,406-1,037-507.75786.131,858-28.38-464.25823.251,267-2,845-1,9602,1841,071-1,832-1,1341,9721,775-160.38-1,449
Unlevered Free Cash Flow
224.252,577-944.63-334979.882,0513.13-260.51,0531,513-2,715-1,6822,4661,351-1,709-866.132,2212,025-77.63-1,179

Additional Metrics

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Cash Interest Paid
--1,330---1,494---1,848---1,573---1,424-
Cash Income Tax Paid
--62---88---7---8-----
Change in Working Capital
--1,190---1,901---664---2,255---1,670-
SEC Filings: 10-K · 10-Q