United Airlines (UAL) 10-Q 21 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 11, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	UAL
Entity Registrant Name	United Continental Holdings, Inc.
Entity Central Index Key	100,517
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		336,823,228
United Airlines, Inc.
Document Information [Line Items]
Entity Registrant Name	United Airlines, Inc.
Entity Central Index Key	319,687
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000

Statements of Consolidated Oper

Statements of Consolidated Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating revenue:
Passenger-Mainline	$ 5,577	$ 5,938
Passenger-Regional	1,413	1,482
Total passenger revenue	6,990	7,420
Cargo	194	242
Other operating revenue	1,011	946
Total revenue	8,195	8,608
Operating expense:
Salaries and related costs	2,490	2,301
Aircraft fuel	1,218	1,864
Landing fees and other rent	525	543
Regional capacity purchase	522	570
Depreciation and amortization	479	429
Aircraft maintenance materials and outside repairs	402	397
Distribution expenses	303	312
Aircraft rent	178	201
Special charges (Note 10)	190	64
Other operating expenses	1,239	1,186
Total operating expenses	7,546	7,867
Operating income	649	741
Nonoperating income (expense):
Interest expense	(159)	(173)
Interest capitalized	14	12
Interest income	8	5
Miscellaneous, net (Note 10)	(18)	(74)
Total other expense	(155)	(230)
Income before income taxes	494	511
Income tax expense	181	3
Net income	$ 313	$ 508
Earnings per share, basic	$ 0.88	$ 1.33
Earnings per share, diluted	$ 0.88	$ 1.32
United Airlines, Inc.
Operating revenue:
Passenger-Mainline	$ 5,577	$ 5,938
Passenger-Regional	1,413	1,482
Total passenger revenue	6,990	7,420
Cargo	194	242
Other operating revenue	1,011	946
Total revenue	8,195	8,608
Operating expense:
Salaries and related costs	2,490	2,301
Aircraft fuel	1,218	1,864
Landing fees and other rent	525	543
Regional capacity purchase	522	570
Depreciation and amortization	479	429
Aircraft maintenance materials and outside repairs	402	397
Distribution expenses	303	312
Aircraft rent	178	201
Special charges (Note 10)	190	64
Other operating expenses	1,238	1,186
Total operating expenses	7,545	7,867
Operating income	650	741
Nonoperating income (expense):
Interest expense	(159)	(173)
Interest capitalized	14	12
Interest income	8	5
Miscellaneous, net (Note 10)	(18)	(74)
Total other expense	(155)	(230)
Income before income taxes	495	511
Income tax expense	181	2
Net income	$ 314	$ 509

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income	$ 313	$ 508
Other comprehensive income (loss), net change related to:
Fuel derivative financial instruments	78	86
Employee benefit plans	(24)	2
Investments and other		14
Comprehensive income (loss) adjustments	54	102
Total comprehensive income, net	367	610
United Airlines, Inc.
Net income	314	509
Other comprehensive income (loss), net change related to:
Fuel derivative financial instruments	78	86
Employee benefit plans	(24)	2
Investments and other		14
Comprehensive income (loss) adjustments	54	102
Total comprehensive income, net	$ 368	$ 611

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,795	$ 3,006
Short-term investments	2,177	2,190
Receivables, less allowance for doubtful accounts (2016-$11; 2015-$18)	1,581	1,128
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2016-$249; 2015-$235)	759	738
Prepaid expenses and other	912	766
Total current assets	7,224	7,828
Operating property and equipment: Owned-
Flight equipment	24,348	23,728
Other property and equipment	4,715	4,542
Operating property and equipment - owned, gross	29,063	28,270
Less-Accumulated depreciation and amortization	(8,743)	(8,339)
Operating property and equipment - owned, net	20,320	19,931
Purchase deposits for flight equipment	866	788
Capital leases-
Flight equipment	1,497	1,527
Other property and equipment	331	332
Operating property and equipment - capital leases, gross	1,828	1,859
Less-Accumulated amortization	(1,008)	(998)
Operating property and equipment - capital leases, net	820	861
Total property, plant, and equipment, net	22,006	21,580
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization (2016-$1,167; 2015-$1,144)	4,112	4,136
Deferred income taxes	1,800	2,037
Restricted cash	162	204
Other, net	546	553
Other assets total	11,143	11,453
Total assets	40,373	40,861
Current liabilities:
Advance ticket sales	4,958	3,753
Frequent flyer deferred revenue	2,098	2,117
Accounts payable	2,065	1,869
Accrued salaries and benefits	1,822	2,350
Current maturities of long-term debt	1,295	1,224
Current maturities of capital leases	114	135
Fuel derivative instruments	32	124
Other	996	842
Total current liabilities	13,380	12,414
Long-term debt	9,472	9,673
Long-term obligations under capital leases	725	727
Other liabilities and deferred credits:
Frequent flyer deferred revenue	2,884	2,826
Postretirement benefit liability	1,879	1,882
Pension liability	1,469	1,488
Advanced purchase of miles	871	1,010
Lease fair value adjustment, net	336	359
Other	1,517	1,516
Total Other liabilities and deferred credits	$ 8,956	$ 9,081
Commitments and contingencies
Stockholder's equity:
Preferred stock
Common stock	$ 4	$ 4
Additional capital invested	7,956	7,946
Retained earnings	3,770	3,457
Stock held in treasury, at cost	(3,113)	(1,610)
Accumulated other comprehensive loss	(777)	(831)
Total stockholders' equity	7,840	8,966
Total liabilities and stockholders' equity (deficit)	40,373	40,861
United Airlines, Inc.
Current assets:
Cash and cash equivalents	1,789	3,000
Short-term investments	2,177	2,190
Receivables, less allowance for doubtful accounts (2016-$11; 2015-$18)	1,581	1,128
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2016-$249; 2015-$235)	759	738
Prepaid expenses and other	961	813
Total current assets	7,267	7,869
Operating property and equipment: Owned-
Flight equipment	24,348	23,728
Other property and equipment	4,715	4,542
Operating property and equipment - owned, gross	29,063	28,270
Less-Accumulated depreciation and amortization	(8,743)	(8,339)
Operating property and equipment - owned, net	20,320	19,931
Purchase deposits for flight equipment	866	788
Capital leases-
Flight equipment	1,497	1,527
Other property and equipment	331	332
Operating property and equipment - capital leases, gross	1,828	1,859
Less-Accumulated amortization	(1,008)	(998)
Operating property and equipment - capital leases, net	820	861
Total property, plant, and equipment, net	22,006	21,580
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization (2016-$1,167; 2015-$1,144)	4,112	4,136
Deferred income taxes	1,759	1,995
Restricted cash	162	204
Other, net	544	554
Other assets total	11,100	11,412
Total assets	40,373	40,861
Current liabilities:
Advance ticket sales	4,958	3,753
Frequent flyer deferred revenue	2,098	2,117
Accounts payable	2,069	1,874
Accrued salaries and benefits	1,822	2,350
Current maturities of long-term debt	1,295	1,224
Current maturities of capital leases	114	135
Fuel derivative instruments	32	124
Other	996	840
Total current liabilities	13,384	12,417
Long-term debt	9,472	9,673
Long-term obligations under capital leases	725	727
Other liabilities and deferred credits:
Frequent flyer deferred revenue	2,884	2,826
Postretirement benefit liability	1,879	1,882
Pension liability	1,469	1,488
Advanced purchase of miles	871	1,010
Lease fair value adjustment, net	336	359
Other	1,517	1,516
Total Other liabilities and deferred credits	$ 8,956	$ 9,081
Commitments and contingencies
Stockholder's equity:
Additional capital invested	$ 4,648	$ 6,138
Retained earnings	3,987	3,673
Accumulated other comprehensive loss	(777)	(831)
Receivable from related parties	(22)	(17)
Total stockholders' equity	7,836	8,963
Total liabilities and stockholders' equity (deficit)	$ 40,373	$ 40,861

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Receivables, allowance for doubtful accounts	$ 11	$ 18
Aircraft fuel, spare parts and supplies, obsolescence allowance	249	235
Intangibles, accumulated amortization	$ 1,167	$ 1,144
Common stock, par value	$ 0.01	$ 0.01
Common shares, authorized	1,000,000,000	1,000,000,000
Common shares, outstanding	339,304,625	364,609,108
United Airlines, Inc.
Receivables, allowance for doubtful accounts	$ 11	$ 18
Aircraft fuel, spare parts and supplies, obsolescence allowance	249	235
Intangibles, accumulated amortization	$ 1,167	$ 1,144
Common stock, par value	$ 0.01	$ 0.01
Common shares, authorized	1,000	1,000
Common shares, issued	1,000	1,000
Common shares, outstanding	1,000	1,000

Condensed Statements of Consoli

Condensed Statements of Consolidated Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net cash provided by operating activities	$ 1,199	$ 1,825
Cash Flows from Investing Activities:
Capital expenditures	(816)	(210)
Purchases of short-term and other investments	(638)	(633)
Proceeds from sale of short-term and other investments	653	762
Investment in and loans to affiliates	(40)
Decrease in restricted cash	26	19
Proceeds from sale of property and equipment	17	17
Other	1
Net cash used in investing activities	(797)	(45)
Cash Flows from Financing Activities:
Payments of long-term debt	(227)	(296)
Repurchases of common stock	(1,392)	(195)
Proceeds from issuance of long-term debt	42	100
Principal payments under capital leases	(34)	(24)
Other, net	(2)	(15)
Net cash used in financing activities	(1,613)	(430)
Net (decrease) increase in cash and cash equivalents	(1,211)	1,350
Cash and cash equivalents at beginning of the period	3,006	2,002
Cash and cash equivalents at end of the period	1,795	3,352
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt	59	599
Airport construction financing	9
Operating lease conversions to capital lease	7
Exchanges of certain convertible notes for common stock		201
United Airlines, Inc.
Cash Flows from Operating Activities:
Net cash provided by operating activities	1,195	1,816
Cash Flows from Investing Activities:
Capital expenditures	(816)	(210)
Purchases of short-term and other investments	(638)	(633)
Proceeds from sale of short-term and other investments	653	762
Investment in and loans to affiliates	(40)
Decrease in restricted cash	26	19
Proceeds from sale of property and equipment	17	17
Other	1
Net cash used in investing activities	(797)	(45)
Cash Flows from Financing Activities:
Payments of long-term debt	(227)	(296)
Dividend to UAL	(1,392)	(195)
Proceeds from issuance of long-term debt	42	100
Principal payments under capital leases	(34)	(24)
Other, net	2	(6)
Net cash used in financing activities	(1,609)	(421)
Net (decrease) increase in cash and cash equivalents	(1,211)	1,350
Cash and cash equivalents at beginning of the period	3,000	1,996
Cash and cash equivalents at end of the period	1,789	3,346
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt	59	$ 599
Airport construction financing	9
Operating lease conversions to capital lease	$ 7

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Significant Accounting Policies	NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES Recently Issued Accounting Standards. Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB amended the FASB Accounting Standards Codification and created a new Topic 842, Leases Leases The FASB amended the FASB Accounting Standards Codification and created a new Topic 606, Revenue from Contracts with Customers Revenue Recognition, The FASB issued Accounting Standards Update No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share	NOTE 2 - EARNINGS PER SHARE The computations of UAL’s basic and diluted earnings per share are set forth below (in millions, except per share amounts): Three Months Ended March 31, 2016 2015 Basic earnings per share: Earnings available to common stockholders $ 313 $ 508 Basic weighted-average shares outstanding 354 382 Earnings per share, basic $ 0.88 $ 1.33 Diluted earnings per share: Earnings available to common stockholders including the effect of dilutive securities $ 313 $ 508 Diluted shares outstanding: Basic weighted-average shares outstanding 354 382 Effect of convertible notes — 1 Effect of employee stock awards 1 1 Diluted weighted-average shares outstanding 355 384 Earnings per share, diluted $ 0.88 $ 1.32 The number of antidilutive securities excluded from the computation of diluted earnings per share amounts was not material. In the three months ended March 31, 2016, UAL repurchased 27 million shares of UAL common stock in open market transactions for $1.5 billion, of which $0.1 billion settled in April 2016. As of March 31, 2016, the Company had $948 million remaining to purchase shares under its share repurchase program (the “2015 Program”). The Company expects to complete its repurchases under the 2015 Program by September 30, 2016. UAL will repurchase shares of UAL common stock subject to prevailing market conditions, and may discontinue such repurchases at any time. See Part II, Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds” of this report for additional information.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Loss	NOTE 3 - ACCUMULATED OTHER COMPREHENSIVE LOSS The tables below present the components of the Company’s accumulated other comprehensive income (loss), net of tax (“AOCI”) (in millions): Deferred Taxes UAL Pension and Derivative Investments Pension and Derivative Total Balance at December 31, 2015 $ (363) $ (215) $ 3 $ (154) $ (102) $ (831) Changes in value (43) (16) — 16 6 (37) Amounts reclassified to earnings 5 138 — (2) (50) 91 Net change (38) 122 — 14 (44) 54 Balance at March 31, 2016 $ (401) $ (93) $ 3 $ (140) $ (146) $ (777) Balance at December 31, 2014 $ (472) $ (499) $ 7 $ (115) $ — (b) $ (1,079) Changes in value (a) (8) (75) 15 — — (68) Amounts reclassified to earnings (a) 10 161 (1) — — 170 Net change 2 86 14 — — 102 Balance at March 31, 2015 $ (470) $ (413) $ 21 $ (115) $ — $ (977) Details about AOCI Components Amount Reclassified Affected Line Item in Three Months Ended 2016 2015 Derivatives designated as cash flow hedges Fuel contracts-reclassifications of losses into earnings $ 138 $ 161 Aircraft fuel Amortization of pension and post-retirement items Amortization of unrecognized losses and prior service cost (credit) (c) 5 10 Salaries and related costs Investments and other Available-for-sale securities-reclassifications of gains into earnings — (1) Miscellaneous, net (a) Income tax expense for these items was offset by the Company’s valuation allowance. (b) Deferred tax balance was offset by the Company’s valuation allowance. (c) This AOCI component is included in the computation of net periodic pension and other postretirement costs (see Note 5 of this report for additional information).

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes	NOTE 4 - INCOME TAXES The Company’s effective tax rate for the three months ended March 31, 2016 was 36.6%, which represented a blend of federal, state and foreign taxes and the impact of certain nondeductible items. The effective rate for the three months ended March 31, 2015 was 0.5% due primarily to the existing income tax valuation allowance against deferred income tax assets, primarily net operating losses. During 2015, after considering all positive and negative evidence, the Company concluded that its deferred income taxes would be more likely than not to be realized. The Company released substantially all of its valuation allowance in 2015.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2016
Employee Benefit Plans	NOTE 5 - EMPLOYEE BENEFIT PLANS Defined Benefit Pension and Other Postretirement Benefit Plans. Pension Benefits Other Postretirement Three Months Ended March 31, Three Months Ended March 31, 2016 2015 2016 2015 Service cost $ 28 $ 31 $ 4 $ 5 Interest cost 51 50 22 20 Expected return on plan assets (54) (49) — — Amortization of unrecognized (gain) loss and prior service cost (credit) 18 22 (13) (13) Settlement loss 1 1 — — Total $ 44 $ 55 $ 13 $ 12 During the three months ended March 31, 2016, the Company contributed $80 million to its U.S. domestic tax-qualified defined benefit pension plans. Share-Based Compensation. The table below presents information related to share-based compensation (in millions): Three Months Ended March 31, 2016 2015 Share-based compensation expense $ 10 $ 17 March 31, 2016 December 31, 2015 Unrecognized share-based compensation $ 93 $ 41 Profit Sharing Plans.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Financial Instruments and Fair Value Measurements	NOTE 6 - FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in the Company’s financial statements (in millions): March 31, 2016 December 31, 2015 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,795 $ 1,795 $ — $ — $ 3,006 $ 3,006 $ — $ — Short-term investments: Corporate debt 859 — 859 — 891 — 891 — Asset-backed securities 725 — 725 — 710 — 710 — Certificates of deposit placed through an account registry service (“CDARS”) 250 — 250 — 281 — 281 — U.S. government and agency notes 105 — 105 — 72 — 72 — Auction rate securities 9 — — 9 9 — — 9 Other fixed-income securities 28 — 28 — 26 — 26 — Other investments measured at NAV (a) 201 — — — 201 — — — Enhanced equipment trust certificates (“EETC”) 24 — — 24 26 — — 26 Fuel derivatives liability, net 32 — 32 — 124 — 124 — Foreign currency derivatives liability, net 1 — 1 — — — — — Restricted cash 180 180 — — 206 206 — — Note: Amounts for UAL and United are substantially the same as of March 31, 2016 and December 31, 2015. (a) In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The Company can redeem its shares at any time at NAV subject to a three-day settlement period. Available-for-sale investment maturities Derivative instruments and investments presented in the tables above have the same fair value as their carrying value. The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions): Fair Value of Debt by Fair Value Hierarchy Level March 31, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Long-term debt $ 10,767 $ 11,180 $ — $ 8,309 $ 2,871 $ 10,897 $ 11,371 $ — $ 8,646 $ 2,725 Fair value of the financial instruments included in the tables above was determined as follows: Description Fair Value Methodology Cash and cash equivalents The carrying amounts approximate fair value because of the short-term maturity of these assets. Short-term investments and Restricted cash Fair value is based on (a) the trading prices of the investment or similar instruments, (b) an income approach, which uses valuation techniques to convert future amounts into a single present amount based on current market expectations about those future amounts when observable trading prices are not available, (c) internally-developed models of the expected future cash flows related to the securities, or (d) broker quotes obtained by third-party valuation services. Fuel derivatives Derivative contracts are privately negotiated contracts and are not exchange traded. Fair value measurements are estimated with option pricing models that employ observable inputs. Inputs to the valuation models include contractual terms, market prices, yield curves, fuel price curves and measures of volatility, among others. Foreign currency derivatives Fair value is determined with a formula utilizing observable inputs. Significant inputs to the valuation models include contractual terms, risk-free interest rates and forward exchange rates. Debt Fair values were based on either market prices or the discounted amount of future cash flows using our current incremental rate of borrowing for similar liabilities.

Hedging Activities

Hedging Activities	3 Months Ended
	Mar. 31, 2016
Hedging Activities	NOTE 7 - HEDGING ACTIVITIES Fuel Derivatives The Company may hedge a portion of its future fuel requirements to protect against increases in the price of fuel. The Company may restructure hedges in response to market conditions prior to their original settlement dates which may result in changes in hedge coverage levels and the potential recognition of gains or losses on such hedge contracts. As of March 31, 2016, the Company had hedged approximately 12% of its projected fuel requirements (378 million gallons) for the remainder of 2016 with commonly used financial hedge instruments based on aircraft fuel or crude oil. As of March 31, 2016, the Company had fuel hedges expiring through December 2016. As required, the Company assesses the effectiveness of each of its individual hedges on a quarterly basis. The Company also examines the effectiveness of its entire hedging program on a quarterly basis utilizing statistical analysis. This analysis involves utilizing regression and other statistical analyses that compare changes in the price of aircraft fuel to changes in the prices of the commodities used for hedging purposes. Upon proper qualification, the Company accounts for certain fuel derivative instruments as cash flow hedges. All derivatives designated as hedges that meet certain requirements are granted hedge accounting treatment. The types of instruments the Company utilizes that qualify for hedge accounting treatment typically include swaps, call options, collars (which consist of a purchased call option and a sold put option), four-way collars (a collar with a higher strike sold call option and a lower strike purchased put option) and other combinations of options. Generally, utilizing hedge accounting, all periodic changes in the fair value of derivatives designated as hedges that are considered to be effective are recorded in AOCI until the underlying fuel is consumed and recorded in fuel expense. The Company is exposed to the risk that its hedges may not be effective in offsetting changes in the cost of fuel and that its hedges may not continue to qualify for hedge accounting. Hedge ineffectiveness results when the change in the fair value of the derivative instrument exceeds the change in the value of the Company’s expected future cash outlay to purchase and consume fuel. To the extent that the periodic changes in the fair value of the derivatives are not effective, that ineffectiveness is classified as Nonoperating income (expense): Miscellaneous, net in the statements of consolidated operations. The Company also uses certain combinations of derivative contracts that are economic hedges but do not qualify for hedge accounting under GAAP. Additionally, the Company may enter into contracts at different times and later combine those contracts into structures designated for hedge accounting. As with derivatives that qualify for hedge accounting, the economic hedges and individual contracts are part of the Company’s program to mitigate the adverse financial impact of potential increases in the price of fuel. The Company records changes in the fair value of these various contracts that are not designated for hedge accounting to Nonoperating income (expense): Miscellaneous, net in the statements of consolidated operations. If the Company settles a derivative prior to its contractual settlement date, then the cumulative gain or loss recognized in AOCI at the termination date remains in AOCI until the forecasted transaction occurs. In a situation where it becomes probable that a hedged forecasted transaction will not occur, any gains and/or losses that have been recorded to AOCI would be required to be immediately reclassified into earnings. All cash flows associated with purchasing and settling derivatives are classified as operating cash flows in the condensed statements of consolidated cash flows. In addition to cash flow hedges, the Company from time to time enters into fair value hedges related to its aircraft fuel inventory using derivatives such as swaps and futures contracts based on aircraft fuel. Under fair value hedge accounting, the Company records changes in the fair value of both the hedging derivative and the hedged aircraft fuel inventory as fuel expense. The Company records ineffectiveness on fair value hedges as Nonoperating income (expense): Miscellaneous, net in the statements of consolidated operations. As of March 31, 2016, the Company did not have any fair value hedges in place. The Company records each derivative instrument as a derivative asset or liability (on a gross basis) in its consolidated balance sheets , The Company’s derivatives were reported in its consolidated balance sheets as follows (in millions): Classification Balance Sheet Location March 31, December 31, Derivatives designated as cash flow hedges Liabilities: Fuel contracts due within one year Fuel derivative instruments $ 32 $ 119 Derivatives not designated for hedge accounting Liabilities: Fuel contracts due within one year Fuel derivative instruments $ — $ 5 Total derivatives Total liabilities $ 32 $ 124 Derivative Credit Risk and Fair Value The Company is exposed to credit losses in the event of non-performance by counterparties to its derivative instruments. While the Company records derivative instruments on a gross basis, the Company monitors its net derivative position with each counterparty to monitor credit risk. Based on the fair value of our fuel derivative instruments, our counterparties may require us to post collateral when the price of the underlying commodity decreases, and we may require our counterparties to provide us with collateral when the price of the underlying commodity increases. The Company did not hold or post collateral as of March 31, 2016. The Company had on deposit $26 million of collateral with fuel derivative counterparties as of December 31, 2015. The collateral is recorded as Prepaid expenses and other on the Company’s balance sheets. We have master trading agreements with all of our fuel hedging counterparties that allow us to net our fuel hedge derivative positions. We have elected not to net the fair value positions recorded on our consolidated balance sheets. The following table shows the potential net fair value positions (including fuel derivatives and related collateral) had we elected to offset. The table reflects offset at the counterparty level (in millions): March 31, 2016 December 31, Fuel derivative instruments, net of collateral $ 32 $ 98 The following tables present the impact of derivative instruments and their location within the Company’s unaudited statements of consolidated operations (in millions): Derivatives designated as cash flow hedges Amount of Loss Loss Amount of Loss Three Months Ended Three Months Ended Three Months Ended 2016 2015 2016 2015 2016 2015 Fuel contracts $ (16 ) $ (75 ) $ (138 ) $ (161 ) $ — $ — Derivatives not designated for hedge accounting Fuel contracts Three Months Ended 2016 2015 Amount of loss recognized in Nonoperating income (expense): Miscellaneous, net $ — $ (43 ) Foreign Currency Derivatives The Company generates revenues and incurs expenses in numerous foreign currencies. Changes in foreign currency exchange rates impact the Company’s results of operations through changes in the dollar value of foreign currency-denominated operating revenues and expenses. Some of the Company’s more significant foreign currency exposures include the Canadian dollar, Chinese renminbi, European euro, British pound and Japanese yen. At times, the Company uses derivative financial instruments, such as options, collars and forward contracts, to hedge its exposure to foreign currency. At March 31, 2016, the Company had foreign currency derivative contracts in place to hedge both European euro denominated sales and Japanese yen denominated sales. The notional amount of the hedges equates to 22% of the Company’s projected European euro denominated net cash inflows for the remainder of 2016; and 17% of the Company’s projected Japanese yen denominated net cash inflows for the remainder of 2016. Net cash relates primarily to passenger ticket sales inflows, partially offset by expenses paid in local currencies. At March 31, 2016, the fair value of the Company’s foreign currency derivatives was a liability of $1 million.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies	NOTE 8 - COMMITMENTS AND CONTINGENCIES Commitments. Aircraft Type Number of Firm Commitments (a) Airbus A350-1000 35 Boeing 737NG/737 MAX 9 178 Boeing 777-300ER 14 Boeing 787-8/-9/-10 23 Embraer E175 9 (a) United also has options and purchase rights for additional aircraft. The aircraft listed in the table above are scheduled for delivery through 2024. For the remainder of 2016, United expects to take delivery of 13 Boeing 737NG aircraft, one Boeing 777-300ER aircraft, two Boeing 787-9 aircraft and nine Embraer E175 aircraft. United expects to assign the nine Embraer E175 aircraft immediately prior to each aircraft’s delivery by Embraer to a designated United Express operator. As of March 31, 2016, United has secured backstop financing commitments from certain of its aircraft manufacturers for a limited number of its future aircraft deliveries, subject to certain customary conditions. Financing may be necessary to satisfy the Company’s capital commitments for its firm order aircraft and other related capital expenditures. The table below summarizes United’s commitments as of March 31, 2016, which primarily relate to the acquisition of aircraft and related spare engines, aircraft improvements and include other commitments primarily to acquire information technology services and assets. Any new firm aircraft orders, including through the exercise of purchase options and purchase rights, will increase the total future capital commitments of the Company. (in billions) Last nine months of 2016 $ 2.9 2017 3.9 2018 3.9 2019 3.2 2020 2.4 After 2020 6.9 $ 23.2 In March 2016, the Company announced that it will retire its fleet of Boeing 747 aircraft from scheduled service by the end of 2018. The Company does not expect there to be a material impact to depreciation and amortization expense. Guarantees. In the Company’s financing transactions that include loans, the Company typically agrees to reimburse lenders for any reduced returns with respect to the loans due to any change in capital requirements and, in the case of loans in which the interest rate is based on the London Interbank Offered Rate, for certain other increased costs that the lenders incur in carrying these loans as a result of any change in law, subject in most cases to obligations of the lenders to take certain limited steps to mitigate the requirement for, or the amount of, such increased costs. At March 31, 2016, the Company had $2.4 billion of floating rate debt and $111 million of fixed rate debt, with remaining terms of up to 12 years, that are subject to these increased cost provisions. In several financing transactions involving loans or leases from non-U.S. entities, with remaining terms of up to 12 years and an aggregate balance of $2.5 billion, the Company bears the risk of any change in tax laws that would subject loan or lease payments thereunder to non-U.S. entities to withholding taxes, subject to customary exclusions. Labor Negotiations. In January 2016, United’s pilots, represented by the Air Line Pilots Association, International, agreed to extend their contract through January 31, 2019. In March 2016, the Company’s dispatchers, represented by the Professional Airline Flight Control Association, agreed to extend their current contract through 2021. In April 2016, the fleet service, passenger service, storekeeper and other employees represented by the Int’l Association of Machinists and Aerospace Workers (“IAM”) ratified seven new contracts with the Company which extended the contracts through 2021. The Company continues to negotiate in mediation for a joint flight attendant collective bargaining agreement and a joint technician and related employees’ collective bargaining agreement. See Note 10 of this report for additional information.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt	NOTE 9 - DEBT As of March 31, 2016, a substantial portion of the Company’s assets, principally aircraft, route authorities, airport slots and loyalty program intangible assets, was pledged under various loan and other agreements. As of March 31, 2016, UAL and United were in compliance with their debt covenants. As of March 31, 2016, United had its entire capacity of $1.35 billion available under the revolving credit facility of the Company’s 2013 Credit and Guaranty Agreement (the “Credit Agreement”). 4.5% Convertible Notes due 2015. 6% Notes due 2026. 6% Notes due 2028. EETCs .

Special Charges

Special Charges	3 Months Ended
	Mar. 31, 2016
Special Charges	NOTE 10 - SPECIAL CHARGES For the three months ended March 31, special charges consisted of the following (in millions): Three Months Ended March 31, Operating: 2016 2015 Labor agreement costs $ 100 $ — Cleveland airport lease restructuring 74 — Severance and benefit costs 8 50 (Gains) losses on sale of assets and other special charges 8 14 Special charges 190 64 Nonoperating and income taxes: Loss on extinguishment of debt and other 8 6 Income tax benefit related to special charges (72) — Total special charges, net of tax $ 126 $ 70 The fleet service, passenger service, storekeeper and other employees represented by the IAM ratified seven new contracts with the Company which extended the contracts through 2021. The Company recorded a $100 million ($64 million net of taxes) special charge for bonus payments to be made in conjunction with the ratification of these contracts. During the three months ended March 31, 2016, the City of Cleveland agreed to amend the lease, which runs through 2029, associated with certain excess airport terminal space (principally Terminal D) and related facilities at Hopkins International Airport (“Cleveland”). The Company recorded an accrual for remaining payments under the lease for facilities that the Company no longer uses and will continue to incur costs under the lease without economic benefit to the Company. This liability was measured and recorded at its fair value when the Company ceased its right to use such facilities leased to it pursuant to the lease. The Company reduced its flight operations at Cleveland in 2014 and had been evaluating its options for the excess space. The Company recorded a net charge of $74 million ($47 million net of taxes) related to the amended lease. During the three months ended March 31, 2016 and 2015, the Company recorded $8 million ($5 million net of taxes) and $50 million, respectively, of severance and benefit costs primarily related to a voluntary early-out program for its flight attendants. In 2014, more than 2,500 flight attendants elected to voluntarily separate from the Company and will receive a severance payment, with a maximum value of $100,000 per participant, based on years of service, with retirement dates through the end of 2016. During the three months ended March 31, 2016, the Company recorded $8 million of losses due to exchange rate changes in Venezuela applicable to funds held in local currency. During the three months ended March 31, 2015, the Company recorded $18 million of integration-related charges, $5 million of other charges, and approximately $9 million of gains on the sale of assets. During the three months ended March 31, 2015, the Company recorded $6 million of losses as part of Nonoperating income (expense): Miscellaneous, net due to the write-off of the debt discount related to the redemption of the 2026 Notes and 2028 Notes. In April 2016, the Federal Aviation Administration (“FAA”) announced that it will designate Newark Liberty International Airport (“Newark”) as a Level 2 schedule-facilitated airport under the International Air Transport Association Worldwide Slot Guidelines effective October 30, 2016. Newark is currently designated as a Level 3 slot-controlled airport. The Company is evaluating the impact, if any, of the change in designation on its $412 million intangible asset related to its Newark slots. Further, the Newark slots serve as part of the collateral for the term loans under the Credit Agreement and under the security agreements related to the Second Amended and Restated Co-Branded Card Marketing Services Agreement with Chase Bank USA, N.A. The Company is evaluating the impact of the FAA’s action on the Newark slot collateral for the term loans and to the extent necessary, the Company will substitute other collateral. Accruals The accrual balance for severance and benefits was $29 million as of March 31, 2016, compared to $96 million as of March 31, 2015. The severance-related accrual as of March 31, 2016 is expected to be mostly paid through 2016. The following is a reconciliation of severance accrual activity for the period: Severance and Balance at December 31, 2015 $ 27 Accrual 8 Payments (6) Balance at March 31, 2016 $ 29

Significant Accounting Polici17

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Recently Issued Accounting Standards	Recently Issued Accounting Standards. Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB amended the FASB Accounting Standards Codification and created a new Topic 842, Leases Leases The FASB amended the FASB Accounting Standards Codification and created a new Topic 606, Revenue from Contracts with Customers Revenue Recognition, The FASB issued Accounting Standards Update No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Computation of Earnings Per Share	The computations of UAL’s basic and diluted earnings per share are set forth below (in millions, except per share amounts): Three Months Ended March 31, 2016 2015 Basic earnings per share: Earnings available to common stockholders $ 313 $ 508 Basic weighted-average shares outstanding 354 382 Earnings per share, basic $ 0.88 $ 1.33 Diluted earnings per share: Earnings available to common stockholders including the effect of dilutive securities $ 313 $ 508 Diluted shares outstanding: Basic weighted-average shares outstanding 354 382 Effect of convertible notes — 1 Effect of employee stock awards 1 1 Diluted weighted-average shares outstanding 355 384 Earnings per share, diluted $ 0.88 $ 1.32

Accumulated Other Comprehensi19

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Components of Accumulated Other Comprehensive Income (Loss), Net of Tax	The tables below present the components of the Company’s accumulated other comprehensive income (loss), net of tax (“AOCI”) (in millions): Deferred Taxes UAL Pension and Derivative Investments Pension and Derivative Total Balance at December 31, 2015 $ (363) $ (215) $ 3 $ (154) $ (102) $ (831) Changes in value (43) (16) — 16 6 (37) Amounts reclassified to earnings 5 138 — (2) (50) 91 Net change (38) 122 — 14 (44) 54 Balance at March 31, 2016 $ (401) $ (93) $ 3 $ (140) $ (146) $ (777) Balance at December 31, 2014 $ (472) $ (499) $ 7 $ (115) $ — (b) $ (1,079) Changes in value (a) (8) (75) 15 — — (68) Amounts reclassified to earnings (a) 10 161 (1) — — 170 Net change 2 86 14 — — 102 Balance at March 31, 2015 $ (470) $ (413) $ 21 $ (115) $ — $ (977) Details about AOCI Components Amount Reclassified Affected Line Item in Three Months Ended 2016 2015 Derivatives designated as cash flow hedges Fuel contracts-reclassifications of losses into earnings $ 138 $ 161 Aircraft fuel Amortization of pension and post-retirement items Amortization of unrecognized losses and prior service cost (credit) (c) 5 10 Salaries and related costs Investments and other Available-for-sale securities-reclassifications of gains into earnings — (1) Miscellaneous, net (a) Income tax expense for these items was offset by the Company’s valuation allowance. (b) Deferred tax balance was offset by the Company’s valuation allowance. (c) This AOCI component is included in the computation of net periodic pension and other postretirement costs (see Note 5 of this report for additional information).

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Components of Net Periodic Benefit Cost	The Company’s net periodic benefit cost includes the following components (in millions): Pension Benefits Other Postretirement Three Months Ended March 31, Three Months Ended March 31, 2016 2015 2016 2015 Service cost $ 28 $ 31 $ 4 $ 5 Interest cost 51 50 22 20 Expected return on plan assets (54) (49) — — Amortization of unrecognized (gain) loss and prior service cost (credit) 18 22 (13) (13) Settlement loss 1 1 — — Total $ 44 $ 55 $ 13 $ 12
Share-Based Compensation Expense	The table below presents information related to share-based compensation (in millions): Three Months Ended March 31, 2016 2015 Share-based compensation expense $ 10 $ 17 March 31, 2016 December 31, 2015 Unrecognized share-based compensation $ 93 $ 41

Financial Instruments and Fai21

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents disclosures about the financial assets and liabilities measured at fair value on a recurring basis in the Company’s financial statements (in millions): March 31, 2016 December 31, 2015 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 1,795 $ 1,795 $ — $ — $ 3,006 $ 3,006 $ — $ — Short-term investments: Corporate debt 859 — 859 — 891 — 891 — Asset-backed securities 725 — 725 — 710 — 710 — Certificates of deposit placed through an account registry service (“CDARS”) 250 — 250 — 281 — 281 — U.S. government and agency notes 105 — 105 — 72 — 72 — Auction rate securities 9 — — 9 9 — — 9 Other fixed-income securities 28 — 28 — 26 — 26 — Other investments measured at NAV (a) 201 — — — 201 — — — Enhanced equipment trust certificates (“EETC”) 24 — — 24 26 — — 26 Fuel derivatives liability, net 32 — 32 — 124 — 124 — Foreign currency derivatives liability, net 1 — 1 — — — — — Restricted cash 180 180 — — 206 206 — — Note: Amounts for UAL and United are substantially the same as of March 31, 2016 and December 31, 2015. (a) In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The Company can redeem its shares at any time at NAV subject to a three-day settlement period.
Carrying Values and Estimated Fair Values of Financial Instruments	The table below presents the carrying values and estimated fair values of financial instruments not presented in the tables above (in millions): Fair Value of Debt by Fair Value Hierarchy Level March 31, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Value Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Long-term debt $ 10,767 $ 11,180 $ — $ 8,309 $ 2,871 $ 10,897 $ 11,371 $ — $ 8,646 $ 2,725

Hedging Activities (Tables)

Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Description of Derivative Instruments	The Company’s derivatives were reported in its consolidated balance sheets as follows (in millions): Classification Balance Sheet Location March 31, December 31, Derivatives designated as cash flow hedges Liabilities: Fuel contracts due within one year Fuel derivative instruments $ 32 $ 119 Derivatives not designated for hedge accounting Liabilities: Fuel contracts due within one year Fuel derivative instruments $ — $ 5 Total derivatives Total liabilities $ 32 $ 124
Offsetting Liabilities	The following table shows the potential net fair value positions (including fuel derivatives and related collateral) had we elected to offset. The table reflects offset at the counterparty level (in millions): March 31, 2016 December 31, Fuel derivative instruments, net of collateral $ 32 $ 98
Schedule of Losses on Derivative Instruments	The following tables present the impact of derivative instruments and their location within the Company’s unaudited statements of consolidated operations (in millions): Derivatives designated as cash flow hedges Amount of Loss Loss Amount of Loss Three Months Ended Three Months Ended Three Months Ended 2016 2015 2016 2015 2016 2015 Fuel contracts $ (16 ) $ (75 ) $ (138 ) $ (161 ) $ — $ —
Schedule of Derivative Instruments not Designated as Hedges Losses	Derivatives not designated for hedge accounting Fuel contracts Three Months Ended 2016 2015 Amount of loss recognized in Nonoperating income (expense): Miscellaneous, net $ — $ (43 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Schedule of Commitments to Purchase Aircrafts	The table below summarizes United’s commitments as of March 31, 2016, which primarily relate to the acquisition of aircraft and related spare engines, aircraft improvements and include other commitments primarily to acquire information technology services and assets. Any new firm aircraft orders, including through the exercise of purchase options and purchase rights, will increase the total future capital commitments of the Company. (in billions) Last nine months of 2016 $ 2.9 2017 3.9 2018 3.9 2019 3.2 2020 2.4 After 2020 6.9 $ 23.2
Aircraft Type
Schedule of Commitments to Purchase Aircrafts	As of March 31, 2016, United had firm commitments and options to purchase aircraft from The Boeing Company (“Boeing”), Embraer S.A. (“Embraer”) and Airbus S.A.S. (“Airbus”) presented in the table below: Aircraft Type Number of Firm Commitments (a) Airbus A350-1000 35 Boeing 737NG/737 MAX 9 178 Boeing 777-300ER 14 Boeing 787-8/-9/-10 23 Embraer E175 9 (a) United also has options and purchase rights for additional aircraft.

Special Charges (Tables)

Special Charges (Tables)	3 Months Ended
	Mar. 31, 2016
Components of Special Items	For the three months ended March 31, special charges consisted of the following (in millions): Three Months Ended March 31, Operating: 2016 2015 Labor agreement costs $ 100 $ — Cleveland airport lease restructuring 74 — Severance and benefit costs 8 50 (Gains) losses on sale of assets and other special charges 8 14 Special charges 190 64 Nonoperating and income taxes: Loss on extinguishment of debt and other 8 6 Income tax benefit related to special charges (72) — Total special charges, net of tax $ 126 $ 70
Schedule of Severance Related Accruals	The following is a reconciliation of severance accrual activity for the period: Severance and Balance at December 31, 2015 $ 27 Accrual 8 Payments (6) Balance at March 31, 2016 $ 29

Significant Accounting Polici25

Significant Accounting Policies - Additional Information (Detail) - Recently Issued Accounting Standards $ in Millions	Mar. 31, 2016USD ($)
Pension Benefits
Summary Of Significant Accounting Policies [Line Items]
Pension plan investments measured at net asset value per share	$ 1,600
Short-term Investments
Summary Of Significant Accounting Policies [Line Items]
Investments in certain entities that calculate net asset value per share included in short-term investments	$ 201

Computation of Earnings Per Sha

Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic earnings per share:
Earnings available to common stockholders	$ 313	$ 508
Basic weighted-average shares outstanding	354	382
Earnings per share, basic	$ 0.88	$ 1.33
Diluted earnings per share:
Earnings available to common stockholders including the effect of dilutive securities	$ 313	$ 508
Diluted shares outstanding:
Basic weighted-average shares outstanding	354	382
Effect of convertible notes		1
Effect of employee stock awards	1	1
Diluted weighted-average shares outstanding	355	384
Earnings per share, diluted	$ 0.88	$ 1.32

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	Apr. 21, 2016	Mar. 31, 2016
Earnings Loss Per Share [Line Items]
Amount remaining under repurchase program		$ 948
Open Market Repurchase Program
Earnings Loss Per Share [Line Items]
Number of shares repurchased		27
Repurchases of common stock		$ 1,500
Subsequent Event | Open Market Repurchase Program
Earnings Loss Per Share [Line Items]
Repurchases of common stock	$ 100

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		$ (831)	$ (1,079)
Changes in value		(37)	(68)	[1]
Amounts reclassified to earnings		91	170	[1]
Comprehensive income (loss) adjustments		54	102
Ending Balance		(777)	(977)
Pension and Other Postretirement Liabilities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(363)	(472)
Changes in value		(43)	(8)	[1]
Amounts reclassified to earnings		5	10	[1]
Comprehensive income (loss) adjustments		(38)	2
Ending Balance		(401)	(470)
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(215)	(499)
Changes in value		(16)	(75)	[1]
Amounts reclassified to earnings		138	161	[1]
Comprehensive income (loss) adjustments		122	86
Ending Balance		(93)	(413)
Investments and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		3	7
Changes in value	[1]		15
Amounts reclassified to earnings	[1]		(1)
Comprehensive income (loss) adjustments			14
Ending Balance		3	21
Pension and Other Postretirement Deferred Taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(154)	(115)
Changes in value		16
Amounts reclassified to earnings		(2)
Comprehensive income (loss) adjustments		14
Ending Balance		(140)	$ (115)
Derivative Contracts Deferred Taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(102)
Changes in value		6
Amounts reclassified to earnings		(50)
Comprehensive income (loss) adjustments		(44)
Ending Balance		$ (146)
[1]	Income tax expense for these items was offset by the Company's valuation allowance.

Details about Accumulated Other

Details about Accumulated Other Comprehensive Income Components (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Salaries And Related Costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of unrecognized losses and prior service cost (credit)	[1]	$ 5	$ 10
Miscellaneous, Net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Available-for-sale securities-reclassifications of gains into earnings			(1)
Fuel Oil Contract | Cash Flow Hedging | Aircraft Fuel
Accumulated Other Comprehensive Income (Loss) [Line Items]
Fuel contracts-reclassifications of losses into earnings		$ 138	$ 161
[1]	This AOCI component is included in the computation of net periodic pension and other postretirement costs (see Note 5 of this report for additional information).

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Line Items]
Federal statutory income tax rate	36.60%
Effective income tax rate		0.50%

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 28	$ 31
Interest cost	51	50
Expected return on plan assets	(54)	(49)
Amortization of unrecognized (gain) loss and prior service cost (credit)	18	22
Settlement loss	1	1
Total	44	55
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	5
Interest cost	22	20
Amortization of unrecognized (gain) loss and prior service cost (credit)	(13)	(13)
Total	$ 13	$ 12

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)shares
Pension Benefits
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer contribution to tax-qualified defined benefit pension plans | $	$ 80
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of pre-tax earnings paid for profit sharing plan	5.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of pre-tax earnings paid for profit sharing plan	20.00%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of days used to compute performance period average closing price of restricted stock units	20 days
Share-Based Compensation, award granted	0.8
Share-Based Compensation, vesting period	3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, award granted	0.3
Share-Based Compensation, vesting period	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of days used to compute performance period average closing price of restricted stock units	20 days
Share-Based Compensation, award granted	0.6
Share-Based Compensation, vesting period	3 years
Share-Based Compensation, vesting date	Dec. 31, 2018

Share-Based Compensation Expens

Share-Based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Share-based compensation expense	$ 10	$ 17
Unrecognized share-based compensation	$ 93		$ 41

Financial Assets and Liabilitie

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 1,795	$ 3,006
Enhanced equipment trust certificates ("EETC")		24	26
Restricted cash		180	206
Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		859	891
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		725	710
CDARS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		250	281
U.S. Government and Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		105	72
Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		9	9
Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		28	26
Other Investments Measured At NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	[1]	201	201
Fuel Derivatives Liability, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net		32	124
Foreign Currency Derivatives Liability , Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net		1
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		1,795	3,006
Restricted cash		180	206
Level 2 | Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		859	891
Level 2 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		725	710
Level 2 | CDARS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		250	281
Level 2 | U.S. Government and Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		105	72
Level 2 | Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		28	26
Level 2 | Fuel Derivatives Liability, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net		32	124
Level 2 | Foreign Currency Derivatives Liability , Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net		1
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Enhanced equipment trust certificates ("EETC")		24	26
Level 3 | Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		$ 9	$ 9
[1]	In accordance with the relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are shares of mutual funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The Company can redeem its shares at any time at NAV subject to a three-day settlement period.

Financial Assets and Liabilit35

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2016
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Redeemable shares, settlement period	3 days

Financial Instruments and Fai36

Financial Instruments and Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Asset-backed Securities | Minimum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	1 year
Asset-backed Securities | Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	34 years
Corporate Debt | Minimum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	1 year
Corporate Debt | Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	6 years
CDARS | Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	1 year
U.S. Government and Other Securities | Minimum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	1 year
U.S. Government and Other Securities | Maximum
Fair Value [Line Items]
Available-for-sale securities remaining maturities	3 years
EETC
Fair Value [Line Items]
Available-for-sale securities remaining maturities	2,019

Carrying Values and Estimated F

Carrying Values and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 10,767	$ 10,897
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt fair value	11,180	11,371
Estimate of Fair Value, Fair Value Disclosure | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt fair value	8,309	8,646
Estimate of Fair Value, Fair Value Disclosure | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt fair value	$ 2,871	$ 2,725

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)gal	Dec. 31, 2015USD ($)
Derivatives And Hedging Activities [Line Items]
Fuel hedges expiration date	2016-12
Cash Flow Hedging
Derivatives And Hedging Activities [Line Items]
Percentage of projection of European euro for hedging financial instruments for remainder of 2016	22.00%
Fair value of derivative liability	$ 32	$ 124
Percentage of projection of Japanese yen for hedging financial instruments for remainder of 2016	17.00%
Foreign Currency Derivatives Liability , Net
Derivatives And Hedging Activities [Line Items]
Fair value of derivative liability	$ 1
Fuel Derivative Instruments
Derivatives And Hedging Activities [Line Items]
Fuel hedge collateral deposits		$ 26
2016 Projected
Derivatives And Hedging Activities [Line Items]
Percentage of projection for hedging financial instruments	12.00%
Volume of fuel hedging | gal	378,000,000

Description of Derivative Instr

Description of Derivative Instruments (Detail) - Cash Flow Hedging - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fuel contracts, liabilities	$ 32	$ 124
Designated as Hedging Instrument | Fuel Derivative Instruments
Derivatives, Fair Value [Line Items]
Fuel contracts, liabilities	$ 32	119
Not Designated as Hedging Instrument | Fuel Derivative Instruments
Derivatives, Fair Value [Line Items]
Fuel contracts, liabilities		$ 5

Offsetting Liabilities (Detail)

Offsetting Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fuel Derivative Instruments
Offsetting Asset and Liabilities [Line Items]
Potential net fair value positions elected to offset	$ 32	$ 98

Schedule of Losses on Derivativ

Schedule of Losses on Derivative Instruments (Detail) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	$ (16)	$ (75)
Loss Reclassified from AOCI into Fuel Expense	(138)	(161)
Amount of Loss Recognized in Nonoperating income (expense): Miscellaneous, net (Ineffective Portion)	$ 0	$ 0

Schedule of Derivative Instrume

Schedule of Derivative Instruments not Designated as Hedges Losses (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2015USD ($)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized in Nonoperating income (expense): Miscellaneous, net	$ (43)

Schedule of Commitments to Purc

Schedule of Commitments to Purchase Aircrafts (Detail) - United Airlines, Inc. - Capital Addition Purchase Commitments	Mar. 31, 2016Aircraft	[1]
Airbus A350-1000 Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	35
Boeing 737NG/737 MAX 9 Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	178
Boeing 777-300ER Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	14
Boeing 787-8/-9/-10 Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	23
Embraer E175 Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	9
[1]	United also has options and purchase rights for additional aircraft.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) Employee in Thousands	1 Months Ended		3 Months Ended
	Mar. 31, 2016USD ($)EmployeeAircraftContract	Jan. 31, 2016	Mar. 31, 2016USD ($)EmployeeAircraftContract
Floating Rate Debt
Commitments and Contingencies [Line Items]
Debt instrument principal amount	$ 2,400,000,000		$ 2,400,000,000
Fixed Rate Debt
Commitments and Contingencies [Line Items]
Debt instrument principal amount	111,000,000		111,000,000
Loans And Leases From Non U S Entities
Commitments and Contingencies [Line Items]
Debt instrument principal amount	2,500,000,000		2,500,000,000
Tax-exempt special facilities revenue bonds
Commitments and Contingencies [Line Items]
Guarantor obligations, maximum exposure	1,900,000,000		1,900,000,000
Operating leases obligations	1,400,000,000		1,400,000,000
Capital leases obligations	$ 316,000,000		$ 316,000,000
Maximum
Commitments and Contingencies [Line Items]
Debt instrument, remaining terms (years)			12 years
Maximum | Loans And Leases From Non U S Entities
Commitments and Contingencies [Line Items]
Debt instrument, remaining terms (years)			12 years
Maximum | Tax-exempt special facilities revenue bonds
Commitments and Contingencies [Line Items]
Debt instrument maturity year			2,038
Minimum | Tax-exempt special facilities revenue bonds
Commitments and Contingencies [Line Items]
Debt instrument maturity year			2,017
Air Line Pilots Association International
Commitments and Contingencies [Line Items]
Service contract extended year		Jan. 31, 2019
Professional Airline Flight Control Association
Commitments and Contingencies [Line Items]
Service contract extended year	2,021
Int'1 Association of Machinists
Commitments and Contingencies [Line Items]
Service contract extended year	2,021		2,021
Number of new contracts extended | Contract	7		7
United Airlines, Inc.
Commitments and Contingencies [Line Items]
Number of employees | Employee	86		86
Percentage of employees represented by various U.S. labor organizations			80.00%
Capital Addition Purchase Commitments | United Airlines, Inc.
Commitments and Contingencies [Line Items]
New aircraft, scheduled delivery date			2,024
Capital Addition Purchase Commitments | United Airlines, Inc. | Boeing 737NG
Commitments and Contingencies [Line Items]
Number of aircraft expected to be delivered in the remainder of 2016 | Aircraft	13		13
Capital Addition Purchase Commitments | United Airlines, Inc. | Boeing 777-300ER Aircraft
Commitments and Contingencies [Line Items]
Number of aircraft expected to be delivered in the remainder of 2016 | Aircraft	1		1
Capital Addition Purchase Commitments | United Airlines, Inc. | Boeing 787-9
Commitments and Contingencies [Line Items]
Number of aircraft expected to be delivered in the remainder of 2016 | Aircraft	2		2
Capital Addition Purchase Commitments | United Airlines, Inc. | Embraer E175 Aircraft
Commitments and Contingencies [Line Items]
Number of aircraft expected to be delivered in the remainder of 2016 | Aircraft	9		9
Number of aircraft expected to be assigned immediately prior to each aircraft's delivery | Aircraft	9		9

Schedule of Acquisition of Airc

Schedule of Acquisition of Aircrafts and Related Spare Engines (Detail) $ in Billions	Mar. 31, 2016USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Last nine months of 2016	$ 2.9
2,017	3.9
2,018	3.9
2,019	3.2
2,020	2.4
After 2,020	6.9
Total commitments	$ 23.2

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	May. 01, 2015	Apr. 01, 2015	Jan. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2014
EETC
Debt Instrument [Line Items]
Borrowed principal amount					$ 700
United Airlines, Inc. | Unsecured Debt | 4.5% Convertible Notes Due 2015
Debt Instrument [Line Items]
Debt instrument stated interest rate				4.50%
Long-term Debt, Gross			$ 202			$ 202
Common stock issued in exchange for convertible notes			11
Debt instrument maturity year				2,015
United Airlines, Inc. | Unsecured Debt | 6% Notes Due 2026
Debt Instrument [Line Items]
Debt instrument stated interest rate					6.00%
Debt instrument maturity year					2,026
Debt purchased and retired		$ 303			$ 18
United Airlines, Inc. | Unsecured Debt | 6% Notes Due 2028
Debt Instrument [Line Items]
Debt instrument stated interest rate					6.00%
Debt instrument maturity year					2,028
Debt purchased and retired	$ 298				$ 13
United Airlines, Inc. | Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Available under revolving credit facility				$ 1,350

Components of Special Charges (

Components of Special Charges (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating:
Labor agreement costs	$ 100
Cleveland airport lease restructuring	74
Severance and benefit costs	8	$ 50
(Gains) losses on sale of assets and other special charges	8	14
Special charges	190	64
Nonoperating and income taxes:
Loss on extinguishment of debt and other	8	6
Income tax benefit related to special charges	(72)
Total special charges, net of tax	$ 126	$ 70

Special Charges - Additional In

Special Charges - Additional Information (Detail)	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)Contract	Mar. 31, 2016USD ($)Contract	Mar. 31, 2015USD ($)	Dec. 31, 2014Attendant	Dec. 31, 2015USD ($)
Special Charges [Line Items]
Labor agreement costs		$ 100,000,000
Charge related to the amended lease		$ 74,000,000
Lease maturity year		2,029
Severance and benefits costs		$ 8,000,000	$ 50,000,000
Severance and benefits costs net of tax		5,000,000
Venezuela local currency loss		8,000,000	6,000,000
Other charges			5,000,000
Gain on sale of asset			9,000,000
Integration-related costs			18,000,000
Intangible assets	$ 4,112,000,000	4,112,000,000			$ 4,136,000,000
Accrual severance and benefit	29,000,000	$ 29,000,000	$ 96,000,000
Severance-related accrual expected payment date		2,016
Newark Liberty International Airport
Special Charges [Line Items]
Intangible assets	$ 412,000,000	$ 412,000,000
Lease Amendment Charges
Special Charges [Line Items]
Charge related to the amended lease		74,000,000
Charge related to the amended lease net of tax		47,000,000
Voluntary early out program
Special Charges [Line Items]
Number of positions eliminated | Attendant				2,500
Voluntary early out program | Maximum
Special Charges [Line Items]
Severance payment per participant					$ 100,000
Int'1 Association of Machinists
Special Charges [Line Items]
Labor agreement costs		100,000,000
Labor agreement costs net of tax		$ 64,000,000
Number of new contracts extended | Contract	7	7
Service contract extended year	2,021	2,021

Schedule of Severance Related A

Schedule of Severance Related Accruals (Detail) - Severance and Benefits $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Schedule Of Accrual Activity [Line Items]
Beginning Balance	$ 27
Accrual	8
Payments	(6)
Ending Balance	$ 29