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| Legalese | ||
| Litigous | ||
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New words:
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Removed:
amendable, amendment, conserve, consisted, currency, diluted, estimate, pricing, Ratio, reached, recover, unrealized
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Exhibit 12.1
UAL Corporation and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
| Earnings (loss): | ||
| Loss before income taxes, extraordinary item | ||
| and cumulative effect of accounting change | $ (2,061) | $ (2,874) |
| Fixed charges, from below | 588 | 659 |
| Undistributed losses of affiliates | 8 | 25 |
| Interest capitalized | (22) | (63) |
| Earnings (loss) | $ (1,487) | $ (2,253) |
| ===== | ===== | |
| Fixed charges: | ||
| Interest expense | $ 445 | $ 383 |
| Portion of rental expense representative | ||
| of the interest factor | 143 | 276 |
| Fixed charges | $ 588 | $ 659 |
| ===== | ===== | |
| Ratio of earnings to fixed charges | (a) | (a) |
| ===== | ===== | |
_________
(a) Earnings were inadequate to cover fixed charges by $2.1 billion in 2002 and $2.9 billion in 2001.