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Exhibit 12.2
UAL Corporation and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
Earnings: | ||
Loss before income taxes | $(1,343) | $ (795) |
Fixed charges, from below | 178 | 200 |
Undistributed losses of affiliates | - | 3 |
Interest capitalized | (1) | (11) |
Loss | $(1,166) | $ (603) |
Fixed charges: | ||
Interest expense | $ 131 | $ 142 |
Preferred stock dividend requirements | 2 | 4 |
Portion of rental expense representative | ||
of the interest factor | 45 | 54 |
Fixed charges | $ 178 | $ 200 |
Ratio of earnings to fixed charges | (a) | (a) |
__________
(a) Earnings were inadequate to cover fixed charges and preferred stock dividend requirements by $1.3 billion in 2003 and $803 million
in 2002.