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Exhibit 12.1
UAL Corporation and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
Earnings: | ||
Loss before income taxes | $(1,070) | $(459) |
Fixed charges, from below | 184 | 162 |
Undistributed losses of affiliates | - | - |
Interest capitalized | (4) | - |
Loss | $ (890) | $(297) |
Fixed charges: | ||
Interest expense | $ 108 | $ 120 |
Portion of rental expense representative | ||
of the interest factor | 76 | 42 |
Fixed charges | $ 184 | $ 162 |
Ratio of earnings to fixed charges | (a) | (a) |
___________
- Earnings were inadequate to cover fixed charges by $1.1 billion in 2005 and $459 million in 2004.