Exhibit 12.1
UAL Corporation and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
| Three Months Ended | |
| March 31 | |
|
|
|
| 2002 | 2001 |
| (In Millions) | |
Earnings: |
|
|
|
|
|
Earnings (loss) before income taxes | $ (795) | $ (489) |
Fixed charges, from below | 196 | 230 |
Undistributed losses of affiliates | 3 | 9 |
Interest capitalized | (11) | (22) |
|
|
|
Earnings (loss) | $ (607) | $ (272) |
|
|
|
Fixed charges: |
|
|
|
| |
Interest expense | $ 142 | $ 129 |
Portion of rental expense representative |
|
|
of the interest factor | 54 | 101 |
|
|
|
Fixed charges | $ 196 | $ 230 |
|
|
|
Ratio of earnings to fixed charges | (a) | (a) |
|
|
|
|
|
|
___________
- Earnings were inadequate to cover fixed charges by $803 million in 2002 and $502
million in 2001.
Exhibit 12.2
UAL Corporation and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
|
|
|
| Three Months Ended | |
| March 31 | |
|
|
|
| 2002 | 2001 |
| (In Millions) | |
Earnings: |
|
|
|
|
|
Earnings (loss) before income taxes | $ (795) | $ (489) |
Fixed charges, from below | 200 | 234 |
Undistributed losses of affiliates | 3 | 9 |
Interest capitalized | (11) | (22) |
|
|
|
Earnings | $ (603) | $ (268) |
|
|
|
Fixed charges: |
|
|
|
| |
Interest expense | $ 142 | $ 129 |
Preferred stock dividend requirements | 4 | 4 |
Portion of rental expense representative |
|
|
of the interest factor | 54 | 101 |
|
|
|
Fixed charges | $ 200 | $ 234 |
|
|
|
Ratio of earnings to fixed charges | (a) | (a) |
|
|
|
|
|
|
__________
(a) Earnings were inadequate to cover fixed charges and preferred stock dividend requirements by $803 million in 2002 and $502 million in 2001.