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United Airlines Holdings, Inc. (UAL)
NASDAQ: UAL · Real-Time Price · USD
97.93
-4.07 (-3.99%)
At close: Oct 23, 2026, 4:00 PM EDT
98.00
+0.07 (0.07%)
After-hours: Oct 23, 2026, 7:51 PM EDT

United Airlines Holdings Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 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
Net Income
1,0298056991,0449489743879859651,323-1246001,1371,075-194843942329-1,377-646
Depreciation & Amortization
777762756469730734727429742719708516663669655458610611611437
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
-1,341433,344-1,650-4605092,596-1,611-2098332,264-2,970-9202,0552,681-2,700-8111,7512,242-2,214
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
4651,6104,7991,2861,2182,2173,7102,2241,4982,8752,848-9108803,7993,1421,1587412,6911,476-269
Operating Cash Flow Growth (YoY)
-61.82%-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
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 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
Capital Expenditures
-2,139-1,343-1,672-1,890-1,464-1,287-1,233-1,675-1,410-1,164-1,366-2,066-1,842-1,420-1,843-2,539-1,328-550-402-536
Sale of Property, Plant & Equipment
2124935151929432422201911812346726682
Investment in Securities
-1,544-173-87321-300-277-223-297-9171,2752,7911,310-87-42-132-1,825-4,236-2,993-94105
Other Investing Activities
-17632-144-316-35-35214-2081-4-6-18-56-46-10-13-1
Investing Cash Flow
-3,838-1,460-1,894-1,565-1,743-1,580-1,462-1,715-2,5111341,441-743-1,936-1,459-1,968-4,387-5,528-3,484-430-348

Financing Activities

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 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
Long-Term Debt Issued
--2,233-------3,111---288-----
Total Debt Issued
8693,5962,23393485--8371,5846073,111703941,303288526-2212--2
Long-Term Debt Repaid
---3,092----1,014----5,031----820----783-
Total Debt Repaid
-1,004-1,445-3,092-575-2,585-597-1,014-1,346-2,575-1,186-5,031-825-809-1,794-820-1,406-810-1,012-783-573
Net Debt Issued (Repaid)
-1352,151-859-482-2,100-597-1,014-509-991-579-1,920-122-715-491-532-880-812-800-783-575
Repurchase of Common Stock
---27-27-21-240-349-80-82-----------
Other Financing Activities
-6-3-90--15-6-94-2--1-18-1---313-62-73-
Financing Cash Flow
-1412,148-976-509-2,136-843-1,457-591-1,073-580-1,938-123-715-491-563-877-818-798-856-575

Net Cash Flow

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 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
Miscellaneous Cash Flow Adjustments
--11-21---------------
Net Cash Flow
-3,5142,2971,930-790-2,660-206791-82-2,0862,4292,351-1,776-1,7711,849611-4,106-5,605-1,591190-1,192

Free Cash Flow

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 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
Free Cash Flow
-1,6742673,127-604-2469302,477549881,7111,482-2,976-9622,3791,299-1,381-5872,1411,074-805
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
-9.37%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%
Free Cash Flow Per Share
-5.110.829.57-1.85-0.752.847.441.640.275.124.51-8.98-2.897.183.97-4.18-1.786.483.31-2.49
Levered Free Cash Flow
-1,99346.752,406-1,037-507.75786.131,858-28.38-464.25823.251,267-2,845-1,9602,1841,071-1,832-1,1341,9721,775-160.38
Unlevered Free Cash Flow
-1,803224.252,577-944.63-334979.882,0513.13-260.51,0531,513-2,715-1,6822,4661,351-1,709-866.132,2212,025-77.63

Additional Metrics

Fiscal Quarter
Q3 2026Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021
Period Ending
Sep '26 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
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