Exhibit 12.1
UAL Corporation and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
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| Successor |
| Predecessor |
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(In Millions) |
| Period from |
| Period from |
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| 2006 |
| 2006 |
| 2005 |
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Earnings (losses): |
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Earnings (loss) before income taxes & adjustments for minority interest and equity earnings/(losses) in affiliates |
| $ | (100 | ) | $ | 22,846 |
| $ | (2,503 | ) |
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Add (deduct): |
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Fixed charges, from below |
| 494 |
| 63 |
| 367 |
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Distributed earnings of affiliates |
| 3 |
| — |
| — |
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Amortization of capitalized interest |
| — |
| 1 |
| 7 |
| |||
Interest capitalized |
| (7 | ) | — |
| 5 |
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Earnings (loss) as adjusted |
| $ | 390 |
| $ | 22,910 |
| $ | (2,124 | ) |
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Fixed charges: |
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Interest expense, including capitalized amounts and amortization of debt costs |
| $ | 345 |
| $ | 41 |
| $ | 224 |
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Portion of rental expense representative of the interest factor |
| 149 |
| 22 |
| 143 |
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Fixed charges |
| $ | 494 |
| $ | 63 |
| $ | 367 |
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Ratio of earnings to fixed charges |
| (a) |
| 363.65 |
| (a) |
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(a) Earnings were inadequate to cover fixed charges by $104 million and $2.5 billion for the period of February 1 to June 30, 2006 and for the first six months of 2005, respectively.