United Airlines (UAL) 10-Q 17 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 11, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		317,285,583
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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating revenue:
Passenger-Mainline	$ 7,017	$ 7,254	$ 19,119	$ 20,153
Passenger-Regional	1,586	1,706	4,577	4,903
Total passenger revenue	8,603	8,960	23,696	25,056
Cargo	224	235	626	706
Other operating revenue	1,086	1,111	3,182	3,066
Total revenue	9,913	10,306	27,504	28,828
Operating expense:
Salaries and related costs	2,625	2,534	7,707	7,289
Aircraft fuel	1,603	1,934	4,258	5,904
Regional capacity purchase	572	572	1,645	1,725
Landing fees and other rent	546	551	1,612	1,647
Depreciation and amortization	503	469	1,473	1,343
Aircraft maintenance materials and outside repairs	451	424	1,301	1,252
Distribution expenses	345	366	987	1,026
Aircraft rent	168	185	521	580
Special charges (Note 10)	45	76	669	195
Other operating expenses	1,431	1,296	3,998	3,782
Total operating expenses	8,289	8,407	24,171	24,743
Operating income	1,624	1,899	3,333	4,085
Nonoperating income (expense):
Interest expense	(150)	(164)	(466)	(504)
Interest capitalized	20	13	48	38
Interest income	14	5	31	16
Miscellaneous, net (Note 10)	2	(147)	(11)	(321)
Total other expense	(114)	(293)	(398)	(771)
Income before income taxes	1,510	1,606	2,935	3,314
Income tax expense (benefit)	545	(3,210)	1,069	(3,203)
Net income	$ 965	$ 4,816	$ 1,866	$ 6,517
Earnings per share, basic	$ 3.02	$ 12.83	$ 5.57	$ 17.19
Earnings per share, diluted	$ 3.01	$ 12.82	$ 5.57	$ 17.15
United Airlines, Inc.
Operating revenue:
Passenger-Mainline	$ 7,017	$ 7,254	$ 19,119	$ 20,153
Passenger-Regional	1,586	1,706	4,577	4,903
Total passenger revenue	8,603	8,960	23,696	25,056
Cargo	224	235	626	706
Other operating revenue	1,086	1,111	3,182	3,066
Total revenue	9,913	10,306	27,504	28,828
Operating expense:
Salaries and related costs	2,625	2,534	7,707	7,289
Aircraft fuel	1,603	1,934	4,258	5,904
Regional capacity purchase	572	572	1,645	1,725
Landing fees and other rent	546	551	1,612	1,647
Depreciation and amortization	503	469	1,473	1,343
Aircraft maintenance materials and outside repairs	451	424	1,301	1,252
Distribution expenses	345	366	987	1,026
Aircraft rent	168	185	521	580
Special charges (Note 10)	45	76	669	195
Other operating expenses	1,431	1,295	3,997	3,780
Total operating expenses	8,289	8,406	24,170	24,741
Operating income	1,624	1,900	3,334	4,087
Nonoperating income (expense):
Interest expense	(150)	(164)	(466)	(504)
Interest capitalized	20	13	48	38
Interest income	14	5	31	16
Miscellaneous, net (Note 10)	2	(147)	(11)	(322)
Total other expense	(114)	(293)	(398)	(772)
Income before income taxes	1,510	1,607	2,936	3,315
Income tax expense (benefit)	545	(3,169)	1,069	(3,163)
Net income	$ 965	$ 4,776	$ 1,867	$ 6,478

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income	$ 965	$ 4,816	$ 1,866	$ 6,517
Other comprehensive income (loss), net change related to:
Fuel derivative financial instruments	12	(104)	123	129
Employee benefit plans	(75)	(12)	(89)	18
Investments and other	(1)	(6)	(1)	(2)
Comprehensive income (loss) adjustments	(64)	(122)	33	145
Total comprehensive income, net	901	4,694	1,899	6,662
United Airlines, Inc.
Net income	965	4,776	1,867	6,478
Other comprehensive income (loss), net change related to:
Fuel derivative financial instruments	12	(104)	123	129
Employee benefit plans	(75)	(12)	(89)	18
Investments and other	(1)	(6)	(1)	(1)
Comprehensive income (loss) adjustments	(64)	(122)	33	146
Total comprehensive income, net	$ 901	$ 4,654	$ 1,900	$ 6,624

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 2,630	$ 3,006
Short-term investments	2,226	2,190
Receivables, less allowance for doubtful accounts (2016-$12; 2015-$18)	1,481	1,128
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2016-$263; 2015-$235)	842	738
Prepaid expenses and other	791	766
Total current assets	7,970	7,828
Operating property and equipment: Owned-
Flight equipment	25,093	23,728
Other property and equipment	5,237	4,542
Operating property and equipment - owned, gross	30,330	28,270
Less-Accumulated depreciation and amortization	(9,529)	(8,339)
Operating property and equipment - owned, net	20,801	19,931
Purchase deposits for flight equipment	1,068	788
Capital leases-
Flight equipment	1,398	1,527
Other property and equipment	337	332
Operating property and equipment - capital leases, gross	1,735	1,859
Less-Accumulated amortization	(959)	(998)
Operating property and equipment - capital leases, net	776	861
Total property, plant, and equipment, net	22,645	21,580
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization (2016-$1,212; 2015-$1,144)	3,654	4,136
Deferred income taxes	863	2,037
Restricted cash	123	204
Other, net	549	553
Other assets total	9,712	11,453
Total assets	40,327	40,861
Current liabilities:
Advance ticket sales	4,558	3,753
Accounts payable	2,138	1,869
Frequent flyer deferred revenue	2,168	2,117
Accrued salaries and benefits	2,282	2,350
Current maturities of long-term debt	969	1,224
Current maturities of capital leases	124	135
Fuel derivative instruments	4	124
Other	1,010	842
Total current liabilities	13,253	12,414
Long-term debt	9,612	9,673
Long-term obligations under capital leases	752	727
Other liabilities and deferred credits:
Frequent flyer deferred revenue	2,743	2,826
Postretirement benefit liability	1,927	1,882
Pension liability	1,220	1,488
Advanced purchase of miles	574	1,010
Lease fair value adjustment, net	299	359
Other	1,508	1,516
Total Other liabilities and deferred credits	8,271	9,081
Commitments and contingencies
Stockholder's equity:
Preferred stock
Common stock	4	4
Additional capital invested	7,974	7,946
Retained earnings	5,323	3,457
Stock held in treasury, at cost	(4,064)	(1,610)
Accumulated other comprehensive loss	(798)	(831)
Total stockholders' equity	8,439	8,966
Total liabilities and stockholders' equity (deficit)	40,327	40,861
United Airlines, Inc.
Current assets:
Cash and cash equivalents	2,624	3,000
Short-term investments	2,226	2,190
Receivables, less allowance for doubtful accounts (2016-$12; 2015-$18)	1,481	1,128
Aircraft fuel, spare parts and supplies, less obsolescence allowance (2016-$263; 2015-$235)	842	738
Prepaid expenses and other	840	813
Total current assets	8,013	7,869
Operating property and equipment: Owned-
Flight equipment	25,093	23,728
Other property and equipment	5,237	4,542
Operating property and equipment - owned, gross	30,330	28,270
Less-Accumulated depreciation and amortization	(9,529)	(8,339)
Operating property and equipment - owned, net	20,801	19,931
Purchase deposits for flight equipment	1,068	788
Capital leases-
Flight equipment	1,398	1,527
Other property and equipment	337	332
Operating property and equipment - capital leases, gross	1,735	1,859
Less-Accumulated amortization	(959)	(998)
Operating property and equipment - capital leases, net	776	861
Total property, plant, and equipment, net	22,645	21,580
Other assets:
Goodwill	4,523	4,523
Intangibles, less accumulated amortization (2016-$1,212; 2015-$1,144)	3,654	4,136
Deferred income taxes	821	1,995
Restricted cash	123	204
Other, net	549	554
Other assets total	9,670	11,412
Total assets	40,328	40,861
Current liabilities:
Advance ticket sales	4,558	3,753
Accounts payable	2,143	1,874
Frequent flyer deferred revenue	2,168	2,117
Accrued salaries and benefits	2,282	2,350
Current maturities of long-term debt	969	1,224
Current maturities of capital leases	124	135
Fuel derivative instruments	4	124
Other	1,009	840
Total current liabilities	13,257	12,417
Long-term debt	9,612	9,673
Long-term obligations under capital leases	752	727
Other liabilities and deferred credits:
Frequent flyer deferred revenue	2,743	2,826
Postretirement benefit liability	1,927	1,882
Pension liability	1,220	1,488
Advanced purchase of miles	574	1,010
Lease fair value adjustment, net	299	359
Other	1,509	1,516
Total Other liabilities and deferred credits	8,272	9,081
Commitments and contingencies
Stockholder's equity:
Additional capital invested	3,718	6,138
Retained earnings	5,540	3,673
Accumulated other comprehensive loss	(798)	(831)
Receivable from related parties	(25)	(17)
Total stockholders' equity	8,435	8,963
Total liabilities and stockholders' equity (deficit)	$ 40,328	$ 40,861

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Receivables, allowance for doubtful accounts	$ 12	$ 18
Aircraft fuel, spare parts and supplies, obsolescence allowance	263	235
Intangibles, accumulated amortization	$ 1,212	$ 1,144
Common stock, par value	$ 0.01	$ 0.01
Common shares, authorized	1,000,000,000	1,000,000,000
Common shares, outstanding	317,905,672	364,609,108
United Airlines, Inc.
Receivables, allowance for doubtful accounts	$ 12	$ 18
Aircraft fuel, spare parts and supplies, obsolescence allowance	263	235
Intangibles, accumulated amortization	$ 1,212	$ 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	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net cash provided by operating activities	$ 4,884	$ 4,877
Cash Flows from Investing Activities:
Capital expenditures	(2,343)	(1,984)
Purchases of short-term and other investments	(1,989)	(1,859)
Proceeds from sale of short-term and other investments	1,957	2,069
Decrease in restricted cash	82	112
Proceeds from sale of property and equipment	24	50
Investment in and loans to affiliates	(8)	(130)
Other	(5)	23
Net cash used in investing activities	(2,282)	(1,719)
Cash Flows from Financing Activities:
Repurchases of common stock	(2,442)	(710)
Payments of long-term debt	(911)	(1,528)
Proceeds from issuance of long-term debt	510	613
Principal payments under capital leases	(95)	(80)
Other, net	(40)	(28)
Net cash used in financing activities	(2,978)	(1,733)
Net (decrease) increase in cash and cash equivalents	(376)	1,425
Cash and cash equivalents at beginning of the period	3,006	2,002
Cash and cash equivalents at end of the period	2,630	3,427
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt	115	797
Airport construction financing	68	5
Operating lease conversions to capital lease	12	285
Exchanges of certain convertible notes for common stock		201
United Airlines, Inc.
Cash Flows from Operating Activities:
Net cash provided by operating activities	4,878	4,866
Cash Flows from Investing Activities:
Capital expenditures	(2,343)	(1,984)
Purchases of short-term and other investments	(1,989)	(1,859)
Proceeds from sale of short-term and other investments	1,957	2,069
Decrease in restricted cash	82	112
Proceeds from sale of property and equipment	24	50
Investment in and loans to affiliates	(8)	(130)
Other	(5)	23
Net cash used in investing activities	(2,282)	(1,719)
Cash Flows from Financing Activities:
Dividend to UAL	(2,442)	(709)
Payments of long-term debt	(911)	(1,528)
Proceeds from issuance of long-term debt	510	613
Principal payments under capital leases	(95)	(80)
Other, net	(34)	(18)
Net cash used in financing activities	(2,972)	(1,722)
Net (decrease) increase in cash and cash equivalents	(376)	1,425
Cash and cash equivalents at beginning of the period	3,000	1,996
Cash and cash equivalents at end of the period	2,624	3,421
Investing and Financing Activities Not Affecting Cash:
Property and equipment acquired through the issuance of debt	115	797
Airport construction financing	68	5
Operating lease conversions to capital lease	$ 12	$ 285

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2016
Recently Issued Accounting Standards	NOTE 1 - RECENTLY ISSUED ACCOUNTING STANDARDS The Financial Accounting Standards Board (“FASB”) amended the FASB Accounting Standards Codification and created a new Topic 606, Revenue from Contracts with Customers Revenue Recognition, In February 2016, the FASB amended the FASB Accounting Standards Codification and created a new Topic 842, Leases Leases In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting 2016-09”) . 2016-09 In August 2016, the FASB issued Accounting Standards Update No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 2016-15”). Statement of Cash Flows 2016-15 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	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Basic earnings per share: Earnings available to common stockholders $ 965 $ 4,816 $ 1,866 $ 6,517 Basic weighted-average shares outstanding 320 375 335 379 Earnings per share, basic $ 3.02 $ 12.83 $ 5.57 $ 17.19 Diluted earnings per share: Earnings available to common stockholders including the effect of dilutive securities $ 965 $ 4,816 $ 1,866 $ 6,517 Diluted shares outstanding: Basic weighted-average shares outstanding 320 375 335 379 Effect of employee stock awards 1 1 — 1 Diluted weighted-average shares outstanding 321 376 335 380 Earnings per share, diluted $ 3.01 $ 12.82 $ 5.57 $ 17.15 The number of antidilutive securities excluded from the computation of diluted earnings per share amounts was not material. In the three and nine months ended September 30, 2016, UAL repurchased 5 million and 48 million shares of UAL common stock in open market transactions, respectively, for $255 million and $2.4 billion, respectively. As of September 30, 2016, the Company had approximately $2 billion remaining to purchase shares under its existing share repurchase authority. UAL may repurchase shares through the open market, privately negotiated transactions, block trades or accelerated share repurchase transactions from time to time in accordance with applicable securities laws. 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 Income (Loss)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss)	NOTE 3 - ACCUMULATED OTHER COMPREHENSIVE INCOME (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 (a) Pension and Fuel Investments Pension and Fuel Total Balance at June 30, 2016 $ (385) $ (41) $ 3 $ (146) $ (165) $ (734) Changes in value (124) (6) (2) 45 2 (85) Amounts reclassified to earnings 6 24 1 (2) (8) 21 Net change (118) 18 (1) 43 (6) (64) Balance at September 30, 2016 $ (503) $ (23) $ 2 $ (103) $ (171) (b) $ (798) Balance at December 31, 2015 $ (363) $ (215) $ 3 $ (154) $ (102) $ (831) Changes in value (157) (5) (2) 57 2 (105) Amounts reclassified to earnings 17 197 1 (6) (71) 138 Net change (140) 192 (1) 51 (69) 33 Balance at September 30, 2016 $ (503) $ (23) $ 2 $ (103) $ (171) (b) $ (798) Deferred Taxes UAL (a) Pension and Fuel Investments Pension and Fuel Total Balance at June 30, 2015 $ (442) $ (266) $ 11 $ (115) $ — (c) $ (812) Changes in value (10) (181) (6) (1) 82 (116) Amounts reclassified to earnings 8 150 — (9) (155) (6) Net change (2) (31) (6) (10) (73) (122) Balance at September 30, 2015 $ (444) $ (297) $ 5 $ (125) $ (73) $ (934) Balance at December 31, 2014 $ (472) $ (499) $ 7 $ (115) $ — (c) $ (1,079) Changes in value 3 (227) (1) (1) 82 (144) Amounts reclassified to earnings 25 429 (1) (9) (155) 289 Net change 28 202 (2) (10) (73) 145 Balance at September 30, 2015 $ (444) $ (297) $ 5 $ (125) $ (73) $ (934) Details about AOCI Components Amount Reclassified from AOCI to Income Affected Line Item in Three Months Ended Nine Months Ended 2016 2015 2016 2015 Fuel derivative contracts Reclassifications of losses into earnings $ 24 $ 150 $ 197 $ 429 Aircraft fuel Pension and other postretirement liabilities Amortization of unrecognized losses and prior service cost (credit) (d) 6 8 17 25 Salaries and related costs Investments and other Available-for-sale securities-reclassifications of gains into earnings 1 — 1 (1) Miscellaneous, net (a) UAL and United amounts are substantially the same except for an additional gain related to investments and other of $1 million at United for the nine months ended September 30, 2015. (b) Includes deferred income tax expense of $180 million that will remain in AOCI until all fuel derivatives which are designated for hedge accounting are settled. (c) Deferred tax balance was offset by the Company’s valuation allowance. (d) 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). Prior to the release of the valuation allowance in the third quarter of 2015, the Company recorded $180 million of deferred income tax expense adjustments in AOCI related to losses on fuel hedges designated for hedge accounting. This deferred income tax expense of $180 million will remain in AOCI until all fuel derivatives which are designated for hedge accounting are settled. Currently, our fuel hedges that are designated for hedge accounting have settlement dates through December 2016. If we do not enter into and designate additional fuel derivative contracts for hedge accounting by the end of 2016, a non-cash income tax expense of $180 million will be recognized in the fourth quarter of 2016.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Taxes	NOTE 4 - INCOME TAXES The Company’s effective tax rate for the three and nine months ended September 30, 2016 was 36% which represented a blend of federal, state and foreign taxes and the impact of certain nondeductible items. During 2015, after considering all positive and negative evidence, the Company concluded that its deferred income taxes would more likely than not be realized. The Company released substantially all of its valuation allowance in the third quarter of 2015, which resulted in a $3.2 billion benefit in its provision for income taxes.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2016
Employee Benefit Plans	NOTE 5 - EMPLOYEE BENEFIT PLANS Defined Benefit Pension and Other Postretirement Benefit Plans. Pension Benefits Other Postretirement Benefits Three Months Ended Three Months Ended September 30, 2016 2015 2016 2015 Service cost $ 29 $ 31 $ 4 $ 5 Interest cost 50 50 22 20 Expected return on plan assets (54) (49) — — Amortization of unrecognized (gain) loss and prior service cost (credit) 19 21 (13) (13) Settlement loss 2 1 — — Curtailment gain — — (47) — Total $ 46 $ 54 $ (34) $ 12 Pension Benefits Other Postretirement Benefits Nine Months Ended Nine Months Ended September 30, 2016 2016 2015 2016 2015 Service cost $ 84 $ 93 $ 14 $ 15 Interest cost 151 150 66 61 Expected return on plan assets (162) (147) (1) (1) Amortization of unrecognized (gain) loss and prior service cost (credit) 57 65 (40) (40) Settlement loss 4 2 — — Curtailment gain — — (47) — Total $ 134 $ 163 $ (8) $ 35 During the three and nine months ended September 30, 2016, the Company contributed $240 million and $400 million, respectively, to its U.S. domestic tax-qualified defined benefit pension plans. Plan Curtailments. Share-Based Compensation. During 2016, UAL granted share-based compensation awards pursuant to the United Continental Holdings, Inc. 2008 Incentive Compensation Plan. These share-based compensation awards include approximately 0.4 million stock options, 0.4 million shares of restricted stock and 1.9 million restricted stock units (“RSUs”). The stock options vest in one-third increments over either (i) the first three anniversaries of the date of grant (for seven-year term options) or (ii) the fourth, fifth and sixth anniversaries of the date of grant (for ten-year term options). The restricted stock awards and the time-vested RSUs vest in one-third increments over the first three anniversaries of the date of grant. The time-vested RSUs are generally stock-settled for domestic employees and cash-settled for international employees based on the 20-day average closing price of UAL common stock immediately prior to the vesting date. The remainder of the RSUs are performance-based and vest based on the Company’s return on invested capital and the Company’s relative improvement in pre-tax margin for the three years ending December 31, 2018. If the applicable performance conditions are achieved, cash payments will be made after the end of the performance period based on the 20-day average closing price of UAL common stock immediately prior to the vesting date. The Company accounts for the performance-based RSUs as liability awards. The table below presents information related to share-based compensation (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Share-based compensation expense $ 23 $ 7 $ 36 $ 40 September 30, 2016 December 31, 2015 Unrecognized share-based compensation $ 79 $ 41 Profit Sharing Plans.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 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): September 30, 2016 December 31, 2015 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 2,630 $ 2,630 $ — $ — $ 3,006 $ 3,006 $ — $ — Short-term investments: Corporate debt 861 — 861 — 891 — 891 — Asset-backed securities 764 — 764 — 710 — 710 — Certificates of deposit placed through an account registry service (“CDARS”) 252 — 252 — 281 — 281 — U.S. government and agency notes 97 — 97 — 72 — 72 — Auction rate securities — — — — 9 — — 9 Other fixed-income securities 50 — 50 — 26 — 26 — Other investments measured at NAV (a) 202 — — — 201 — — — Restricted cash 124 124 — — 206 206 — — Enhanced equipment trust certificates (“EETC”) 23 — — 23 26 — — 26 Fuel derivatives liability, net 4 — 4 — 124 — 124 — Foreign currency derivatives liability, net 1 — 1 — — — — — (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 September 30, 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 $ 10,581 $ 11,218 $ — $ 8,359 $ 2,859 $ 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 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	9 Months Ended
	Sep. 30, 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 September 30, 2016, the Company had hedged approximately 13% of its projected fuel requirements (126 million gallons) for the remainder of 2016 with commonly used financial hedge instruments based on aircraft fuel or crude oil. As of September 30, 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 September 30, 2016, the Company did not have any fair value hedges. 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 September 30, December 31, Derivatives designated as cash flow hedges Liabilities: Fuel contracts due within one year Fuel derivative instruments $ 4 $ 119 Derivatives not designated for hedge accounting Liabilities: Fuel contracts due within one year Fuel derivative instruments $ — $ 5 Total derivatives Total liabilities $ 4 $ 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 September 30, 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): September 30, December 31, Fuel derivative instruments, net of collateral $ (4) $ (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 in AOCI on Derivatives (Effective Portion) Loss Reclassified from AOCI into Fuel Expense Amount of Loss Three Months Ended Three Months Ended Three Months Ended 2016 2015 2016 2015 2016 2015 Fuel contracts $ (6) $ (181) $ (24) $ (150) $ — $ — Derivatives designated as cash flow hedges Amount of Loss in AOCI on Derivatives (Effective Portion) Loss Reclassified from Fuel Expense Amount of Loss Nine Months Ended Nine Months Ended Nine Months Ended 2016 2015 2016 2015 2016 2015 Fuel contracts $ (5) $ (227) $ (197) $ (429) $ — $ — Derivatives not designated for hedge accounting Fuel contracts Three Months Ended Nine Months Ended 2016 2015 2016 2015 Amount of loss recognized in Nonoperating income (expense): Miscellaneous, net $ — $ (67) $ — $ (69) 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 September 30, 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 16% of the Company’s projected European euro denominated net cash inflows for the remainder of 2016; and 18% 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 September 30, 2016, the fair value of the Company’s foreign currency derivatives was a liability of $1 million.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 172 Boeing 777-300ER 14 Boeing 787-8/-9/-10 21 (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 seven Boeing 737NG aircraft and one Boeing 777-300ER The table below summarizes United’s commitments as of September 30, 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 three months of 2016 $ 1.2 2017 4.5 2018 4.1 2019 3.3 2020 2.6 After 2020 6.9 $ 22.6 As of September 30, 2016, United had $1.7 billion in financing available through EETC transactions for the financing of all of its aircraft deliveries scheduled for the remainder of 2016 and first half of 2017. See Note 9 of this report for additional information on aircraft financing. The Company has also 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. Facility and Other Operating Leases. (In millions) Facility and Other Operating Leases Last three months of 2016 $ 200 2017 1,156 2018 1,024 2019 954 2020 1,083 After 2020 7,450 $ 11,867 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 (“LIBOR”), 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 September 30, 2016, the Company had $2.5 billion of floating rate debt and $97 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 $2.6 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. As of September 30, 2016, United is the guarantor of $171 million of aircraft mortgage debt issued by one of United’s regional carriers. The aircraft mortgage debt is subject to similar increased cost provisions as described above for the Company’s debt and the Company would potentially be responsible for those costs under the guarantees. 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. Increases in the pay and benefits resulting from new pilot agreements could activate United pilot contract clauses requiring the Company to match contract terms. 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. In August 2016, United’s flight attendants, represented by the AFA, ratified a five-year joint collective bargaining agreement through 2021. In September 2016, the Company reached a tentative agreement with the Int’l Brotherhood of Teamsters (the “IBT”) for a six-year joint collective bargaining agreement with its technicians and related employees.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt	NOTE 9 - DEBT As of September 30, 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 September 30, 2016, UAL and United were in compliance with their debt covenants. As of September 30, 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”). EETCs . EETC Date Class Principal Final expected Stated Total debt recorded Remaining September 2016 AA $ 637 October 2028 2.875% $ — $ 637 September 2016 A 283 October 2028 3.10% — 283 June 2016 AA 729 July 2028 3.10% 222 507 June 2016 A 324 July 2028 3.45% 99 225 $ 1,973 $ 321 $ 1,652 In 2016, United borrowed approximately $272 million aggregate principal amount from various financial institutions to finance the purchase of several aircraft delivered in 2016. The notes evidencing these borrowings, which are secured by the related aircraft, mature in 2028 and have interest rates comprised of LIBOR plus a specified margin. 4.5% Convertible Notes due 2015. 6% Notes due 2026. 6% Notes due 2028.

Special Items

Special Items	9 Months Ended
	Sep. 30, 2016
Special Items	NOTE 10 - SPECIAL ITEMS For the three and nine months ended September 30, special items consisted of the following (in millions): Three Months Ended Nine Months Ended Operating: 2016 2015 2016 2015 Labor agreement costs $ 14 $ — $ 124 $ — Severance and benefit costs 13 28 27 103 Impairment of intangible asset related to Newark Liberty International Airport (“Newark”) slots — — 412 — Cleveland airport lease restructuring — — 74 — (Gains) losses on sale of assets and other special charges 18 48 32 92 Special charges 45 76 669 195 Nonoperating and income taxes: Losses on extinguishment of debt and other — 61 (1) 195 Income tax benefit related to special charges (16) — (241) — Total special charges, net of tax 29 137 427 390 Income tax valuation allowance release (Note 4) — (3,218) — (3,218) Total special items $ 29 $ (3,081) $ 427 $ (2,828) 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 also reached a tentative agreement with the IBT. During the three and nine months ended September 30, 2016, the Company recorded $61 million ($39 million net of taxes) and $171 million ($109 million net of taxes), respectively, of special charges primarily for payments to be made in conjunction with the IAM and IBT agreements described above. Also, as part of the recently ratified contract with the AFA, the Company amended two of its flight attendant postretirement medical plans. The amendments triggered curtailment accounting, resulting in the recognition of a one-time $47 million gain ($30 million net of taxes) for accelerated recognition of a prior service credit. During the three and nine months ended September 30, 2016, the Company recorded $13 million ($8 million net of taxes) and $27 million ($17 million net of taxes), respectively, of severance and benefit costs. During the three and nine months ended September 30, 2015, the Company recorded $28 million and $103 million, respectively, of severance and benefit costs. The severance and benefit costs relate to a voluntary early-out program for the Company’s flight attendants and other severance agreements. In 2014, more than 2,500 flight attendants elected to voluntarily separate from the Company for 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. In April 2016, the Federal Aviation Administration (“FAA”) announced that it will designate Newark as a Level 2 schedule-facilitated airport under the International Air Transport Association Worldwide Slot Guidelines effective October 30, 2016. The designation was associated with an updated demand and capacity analysis of Newark by the FAA. In the second quarter of 2016, the Company determined that the FAA’s action impaired the entire value of its Newark slots because the slots will no longer be the mechanism that governs take-off and landing rights. Accordingly, the Company recorded a $412 million special charge ($264 million net of taxes) to write off the intangible asset. The Newark slots served as part of the collateral for the term loans under the Company’s Credit Agreement and under the Second Amended and Restated Co-Branded Card Marketing Services Agreement with Chase Bank USA, N.A. (the “Chase Agreement”). The Credit Agreement and the Chase Agreement have been amended to remove the Newark slots as collateral with no replacement collateral required. During the nine months ended September 30, 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. 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 recorded a net charge of $74 million ($47 million net of taxes) related to the amended lease. During the three and nine months ended September 30, 2016, the Company recorded gains and losses on sale of assets and other special charges of $18 million ($12 million net of taxes) and $32 million ($20 million net of taxes), respectively. During the three and nine months ended September 30, 2015, the Company recorded $48 million and $92 million, respectively, for integration costs, impairment of assets and other special gains and losses. During the nine months ended September 30, 2016, the Company recorded $8 million ($5 million net of taxes) of losses due to exchange rate changes in Venezuela applicable to funds held in local currency and recorded a $9 million ($6 million net of taxes) gain on the sale of an affiliate. During the third quarter of 2015, the Company recorded $61 million of losses due to exchange rate changes in Venezuela applicable to funds held in local currency. During the nine months ended September 30, 2015, the Company recorded a charge of $134 million due to the write-off of the unamortized non-cash debt discount related to the extinguishment of the 2026 Notes and 2028 Notes. Both of the charges were recorded as part of Nonoperating income (expense): Miscellaneous, net. Accruals The accrual balance for severance and benefits was $34 million as of September 30, 2016, compared to $110 million as of September 30, 2015. The severance-related accrual as of September 30, 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 27 Payments (20) Balance at September 30, 2016 $ 34

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Basic earnings per share: Earnings available to common stockholders $ 965 $ 4,816 $ 1,866 $ 6,517 Basic weighted-average shares outstanding 320 375 335 379 Earnings per share, basic $ 3.02 $ 12.83 $ 5.57 $ 17.19 Diluted earnings per share: Earnings available to common stockholders including the effect of dilutive securities $ 965 $ 4,816 $ 1,866 $ 6,517 Diluted shares outstanding: Basic weighted-average shares outstanding 320 375 335 379 Effect of employee stock awards 1 1 — 1 Diluted weighted-average shares outstanding 321 376 335 380 Earnings per share, diluted $ 3.01 $ 12.82 $ 5.57 $ 17.15

Accumulated Other Comprehensi18

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 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 (a) Pension and Fuel Investments Pension and Fuel Total Balance at June 30, 2016 $ (385) $ (41) $ 3 $ (146) $ (165) $ (734) Changes in value (124) (6) (2) 45 2 (85) Amounts reclassified to earnings 6 24 1 (2) (8) 21 Net change (118) 18 (1) 43 (6) (64) Balance at September 30, 2016 $ (503) $ (23) $ 2 $ (103) $ (171) (b) $ (798) Balance at December 31, 2015 $ (363) $ (215) $ 3 $ (154) $ (102) $ (831) Changes in value (157) (5) (2) 57 2 (105) Amounts reclassified to earnings 17 197 1 (6) (71) 138 Net change (140) 192 (1) 51 (69) 33 Balance at September 30, 2016 $ (503) $ (23) $ 2 $ (103) $ (171) (b) $ (798) Deferred Taxes UAL (a) Pension and Fuel Investments Pension and Fuel Total Balance at June 30, 2015 $ (442) $ (266) $ 11 $ (115) $ — (c) $ (812) Changes in value (10) (181) (6) (1) 82 (116) Amounts reclassified to earnings 8 150 — (9) (155) (6) Net change (2) (31) (6) (10) (73) (122) Balance at September 30, 2015 $ (444) $ (297) $ 5 $ (125) $ (73) $ (934) Balance at December 31, 2014 $ (472) $ (499) $ 7 $ (115) $ — (c) $ (1,079) Changes in value 3 (227) (1) (1) 82 (144) Amounts reclassified to earnings 25 429 (1) (9) (155) 289 Net change 28 202 (2) (10) (73) 145 Balance at September 30, 2015 $ (444) $ (297) $ 5 $ (125) $ (73) $ (934) Details about AOCI Components Amount Reclassified from AOCI to Income Affected Line Item in Three Months Ended Nine Months Ended 2016 2015 2016 2015 Fuel derivative contracts Reclassifications of losses into earnings $ 24 $ 150 $ 197 $ 429 Aircraft fuel Pension and other postretirement liabilities Amortization of unrecognized losses and prior service cost (credit) (d) 6 8 17 25 Salaries and related costs Investments and other Available-for-sale securities-reclassifications of gains into earnings 1 — 1 (1) Miscellaneous, net (a) UAL and United amounts are substantially the same except for an additional gain related to investments and other of $1 million at United for the nine months ended September 30, 2015. (b) Includes deferred income tax expense of $180 million that will remain in AOCI until all fuel derivatives which are designated for hedge accounting are settled. (c) Deferred tax balance was offset by the Company’s valuation allowance. (d) 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)	9 Months Ended
	Sep. 30, 2016
Components of Net Periodic Benefit Cost	The Company’s net periodic benefit cost includes the following components (in millions): Pension Benefits Other Postretirement Benefits Three Months Ended Three Months Ended September 30, 2016 2015 2016 2015 Service cost $ 29 $ 31 $ 4 $ 5 Interest cost 50 50 22 20 Expected return on plan assets (54) (49) — — Amortization of unrecognized (gain) loss and prior service cost (credit) 19 21 (13) (13) Settlement loss 2 1 — — Curtailment gain — — (47) — Total $ 46 $ 54 $ (34) $ 12 Pension Benefits Other Postretirement Benefits Nine Months Ended Nine Months Ended September 30, 2016 2016 2015 2016 2015 Service cost $ 84 $ 93 $ 14 $ 15 Interest cost 151 150 66 61 Expected return on plan assets (162) (147) (1) (1) Amortization of unrecognized (gain) loss and prior service cost (credit) 57 65 (40) (40) Settlement loss 4 2 — — Curtailment gain — — (47) — Total $ 134 $ 163 $ (8) $ 35
Share-Based Compensation Expense	The table below presents information related to share-based compensation (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Share-based compensation expense $ 23 $ 7 $ 36 $ 40 September 30, 2016 December 31, 2015 Unrecognized share-based compensation $ 79 $ 41

Financial Instruments and Fai20

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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): September 30, 2016 December 31, 2015 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 2,630 $ 2,630 $ — $ — $ 3,006 $ 3,006 $ — $ — Short-term investments: Corporate debt 861 — 861 — 891 — 891 — Asset-backed securities 764 — 764 — 710 — 710 — Certificates of deposit placed through an account registry service (“CDARS”) 252 — 252 — 281 — 281 — U.S. government and agency notes 97 — 97 — 72 — 72 — Auction rate securities — — — — 9 — — 9 Other fixed-income securities 50 — 50 — 26 — 26 — Other investments measured at NAV (a) 202 — — — 201 — — — Restricted cash 124 124 — — 206 206 — — Enhanced equipment trust certificates (“EETC”) 23 — — 23 26 — — 26 Fuel derivatives liability, net 4 — 4 — 124 — 124 — Foreign currency derivatives liability, net 1 — 1 — — — — —
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 September 30, 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 $ 10,581 $ 11,218 $ — $ 8,359 $ 2,859 $ 10,897 $ 11,371 $ — $ 8,646 $ 2,725

Hedging Activities (Tables)

Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2016
Description of Derivative Instruments	The Company’s derivatives were reported in its consolidated balance sheets as follows (in millions): Classification Balance Sheet Location September 30, December 31, Derivatives designated as cash flow hedges Liabilities: Fuel contracts due within one year Fuel derivative instruments $ 4 $ 119 Derivatives not designated for hedge accounting Liabilities: Fuel contracts due within one year Fuel derivative instruments $ — $ 5 Total derivatives Total liabilities $ 4 $ 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): September 30, December 31, Fuel derivative instruments, net of collateral $ (4) $ (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 in AOCI on Derivatives (Effective Portion) Loss Reclassified from AOCI into Fuel Expense Amount of Loss Three Months Ended Three Months Ended Three Months Ended 2016 2015 2016 2015 2016 2015 Fuel contracts $ (6) $ (181) $ (24) $ (150) $ — $ — Derivatives designated as cash flow hedges Amount of Loss in AOCI on Derivatives (Effective Portion) Loss Reclassified from Fuel Expense Amount of Loss Nine Months Ended Nine Months Ended Nine Months Ended 2016 2015 2016 2015 2016 2015 Fuel contracts $ (5) $ (227) $ (197) $ (429) $ — $ —
Schedule of Derivative Instruments not Designated as Hedges Losses	Derivatives not designated for hedge accounting Fuel contracts Three Months Ended Nine Months Ended 2016 2015 2016 2015 Amount of loss recognized in Nonoperating income (expense): Miscellaneous, net $ — $ (67) $ — $ (69)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Schedule of Commitments to Purchase Aircrafts	The table below summarizes United’s commitments as of September 30, 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 three months of 2016 $ 1.2 2017 4.5 2018 4.1 2019 3.3 2020 2.6 After 2020 6.9 $ 22.6
Future Minimum Lease Payments for Capital and Operating Leases	The table below summarizes the Company’s scheduled future minimum lease payments under facility operating leases having initial or remaining noncancelable lease terms of more than one year. (In millions) Facility and Other Operating Leases Last three months of 2016 $ 200 2017 1,156 2018 1,024 2019 954 2020 1,083 After 2020 7,450 $ 11,867
Aircraft Type
Schedule of Commitments to Purchase Aircrafts	As of September 30, 2016, United had firm commitments and options to purchase aircraft from The Boeing Company (“Boeing”) 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 172 Boeing 777-300ER 14 Boeing 787-8/-9/-10 21 (a) United also has options and purchase rights for additional aircraft.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Details of Pass Through Trusts	Certain details of the pass-through trusts with proceeds received from issuance of debt in 2016 are as follows (in millions, except stated interest rate): EETC Date Class Principal Final expected Stated Total debt recorded Remaining September 2016 AA $ 637 October 2028 2.875% $ — $ 637 September 2016 A 283 October 2028 3.10% — 283 June 2016 AA 729 July 2028 3.10% 222 507 June 2016 A 324 July 2028 3.45% 99 225 $ 1,973 $ 321 $ 1,652

Special Items (Tables)

Special Items (Tables)	9 Months Ended
	Sep. 30, 2016
Components of Special Items	For the three and nine months ended September 30, special items consisted of the following (in millions): Three Months Ended Nine Months Ended Operating: 2016 2015 2016 2015 Labor agreement costs $ 14 $ — $ 124 $ — Severance and benefit costs 13 28 27 103 Impairment of intangible asset related to Newark Liberty International Airport (“Newark”) slots — — 412 — Cleveland airport lease restructuring — — 74 — (Gains) losses on sale of assets and other special charges 18 48 32 92 Special charges 45 76 669 195 Nonoperating and income taxes: Losses on extinguishment of debt and other — 61 (1) 195 Income tax benefit related to special charges (16) — (241) — Total special charges, net of tax 29 137 427 390 Income tax valuation allowance release (Note 4) — (3,218) — (3,218) Total special items $ 29 $ (3,081) $ 427 $ (2,828)
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 27 Payments (20) Balance at September 30, 2016 $ 34

Recently Issued Accounting St25

Recently Issued Accounting Standards - Additional Information (Detail) - Recently Issued Accounting Standards $ in Millions	Sep. 30, 2016USD ($)
Pension Benefits
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Pension plan investments measured at net asset value per share	$ 1,900
Short-term Investments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments in certain entities that calculate net asset value per share included in short-term investments	$ 202

Computation of Earnings Per Sha

Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic earnings per share:
Earnings available to common stockholders	$ 965	$ 4,816	$ 1,866	$ 6,517
Basic weighted-average shares outstanding	320	375	335	379
Earnings per share, basic	$ 3.02	$ 12.83	$ 5.57	$ 17.19
Diluted earnings per share:
Earnings available to common stockholders including the effect of dilutive securities	$ 965	$ 4,816	$ 1,866	$ 6,517
Diluted shares outstanding:
Basic weighted-average shares outstanding	320	375	335	379
Effect of employee stock awards	1	1		1
Diluted weighted-average shares outstanding	321	376	335	380
Earnings per share, diluted	$ 3.01	$ 12.82	$ 5.57	$ 17.15

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)shares
Earnings Loss Per Share [Line Items]
Amount remaining under repurchase programs	$ 2,000	$ 2,000
Open Market Repurchase Program
Earnings Loss Per Share [Line Items]
Number of shares repurchased | shares	5	48
Repurchases of common stock	$ 255	$ 2,400

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015	Sep. 30, 2016		Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance					$ 8,966
Comprehensive income (loss) adjustments		$ (64)		$ (122)	33		$ 145
Ending Balance		8,439			8,439
Pension and Other Postretirement Liabilities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	(385)		(442)	(363)		(472)
Changes in value	[1]	(124)		(10)	(157)		3
Amounts reclassified to earnings	[1]	6		8	17		25
Comprehensive income (loss) adjustments	[1]	(118)		(2)	(140)		28
Ending Balance	[1]	(503)		(444)	(503)		(444)
Derivative Contracts | Fuel
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	(41)		(266)	(215)		(499)
Changes in value	[1]	(6)		(181)	(5)		(227)
Amounts reclassified to earnings	[1]	24		150	197		429
Comprehensive income (loss) adjustments	[1]	18		(31)	192		202
Ending Balance	[1]	(23)		(297)	(23)		(297)
Investments and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	3		11	3		7
Changes in value	[1]	(2)		(6)	(2)		(1)
Amounts reclassified to earnings	[1]	1			1		(1)
Comprehensive income (loss) adjustments	[1]	(1)		(6)	(1)		(2)
Ending Balance	[1]	2		5	2		5
Pension and Other Postretirement Deferred Taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	(146)		(115)	(154)		(115)
Changes in value	[1]	45		(1)	57		(1)
Amounts reclassified to earnings	[1]	(2)		(9)	(6)		(9)
Comprehensive income (loss) adjustments	[1]	43		(10)	51		(10)
Ending Balance	[1]	(103)		(125)	(103)		(125)
Derivative Contracts Deferred Taxes | Fuel
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	(165)			(102)
Changes in value	[1]	2		82	2		82
Amounts reclassified to earnings	[1]	(8)		(155)	(71)		(155)
Comprehensive income (loss) adjustments	[1]	(6)		(73)	(69)		(73)
Ending Balance	[1]	(171)	[2]	(73)	(171)	[2]	(73)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	(734)		(812)	(831)		(1,079)
Changes in value	[1]	(85)		(116)	(105)		(144)
Amounts reclassified to earnings	[1]	21		(6)	138		289
Comprehensive income (loss) adjustments	[1]	(64)		(122)	33		145
Ending Balance	[1]	$ (798)		$ (934)	$ (798)		$ (934)
[1]	UAL and United amounts are substantially the same except for an additional gain related to investments and other of $1 million at United for the nine months ended September 30, 2015.
[2]	Includes deferred income tax expense of $180 million that will remain in AOCI until all fuel derivatives which are designated for hedge accounting are settled.

Details about Accumulated Other

Details about Accumulated Other Comprehensive Income Components (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Salaries And Related Costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of unrecognized losses and prior service cost (credit)	[1]	$ 6	$ 8	$ 17	$ 25
Miscellaneous, Net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Available-for-sale securities-reclassifications of gains into earnings		1		1	(1)
Fuel Oil Contract | Aircraft Fuel
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassifications of losses into earnings		$ 24	$ 150	$ 197	$ 429
[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).

Details about Accumulated Oth30

Details about Accumulated Other Comprehensive Income Components (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
United Airlines, Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Additional gain related to investments and other		$ 1
Fuel | Designated as Hedging Instrument
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred income tax expense	$ 180
Fuel | Designated as Hedging Instrument | Pension and Other Postretirement Deferred Taxes
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred income tax expense	$ 180

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail) - Fuel - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred income tax expense		$ 180
Scenario Forecast
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred income tax expense	$ 180

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Line Items]
Effective income tax rate	36.00%		36.00%
Income tax benefit associated with valuation allowance release		$ 3,218		$ 3,218

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 29	$ 31	$ 84	$ 93
Interest cost	50	50	151	150
Expected return on plan assets	(54)	(49)	(162)	(147)
Amortization of unrecognized (gain) loss and prior service cost (credit)	19	21	57	65
Settlement loss	2	1	4	2
Total	46	54	134	163
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	5	14	15
Interest cost	22	20	66	61
Expected return on plan assets			(1)	(1)
Amortization of unrecognized (gain) loss and prior service cost (credit)	(13)	(13)	(40)	(40)
Curtailment gain	(47)		(47)
Total	$ (34)	$ 12	$ (8)	$ 35

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Pension Benefits
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employer contribution to tax-qualified defined benefit pension plans	$ 240	$ 400
Postretirement Medical Plan | Flight Attendant Postretirement Medical Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Curtailment gain recognition of prior service credit	$ 47	$ 47
Defined benefit plan, discount rate	3.43%	3.43%	4.52%
Increase in projected benefit obligation of the plans		$ 49
Increase in other comprehensive loss due to actuarial loss		$ (96)
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]
Share-based compensation, other than options, awards granted		1.9
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, other than options, awards granted		0.4
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, vesting period		3 years
Share-Based Compensation, vesting date		Dec. 31, 2018
Number of days used to compute performance period average closing price of restricted stock units		20 days
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, options, awards granted		0.4
Employee Stock Option | First three anniversaries of the date of grant (seven-year term option)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, options vesting percentage		33.33%
Share-Based Compensation, vesting period		3 years
Share-Based Compensation, options term		7 years
Employee Stock Option | Fourth, fifth and sixth anniversaries of the date of grant (ten-year term option)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation, options vesting percentage		33.33%
Share-Based Compensation, vesting period		3 years
Share-Based Compensation, options term		10 years

Share-Based Compensation Expens

Share-Based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Share-based compensation expense	$ 23	$ 7	$ 36	$ 40
Unrecognized share-based compensation	$ 79		$ 79		$ 41

Financial Assets and Liabilitie

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 2,630	$ 3,006
Restricted cash		124	206
Enhanced equipment trust certificates ("EETC")		23	26
Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		861	891
Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		764	710
CDARS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		252	281
U.S. Government and Agency Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		97	72
Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments			9
Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		50	26
Other Investments Measured At NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	[1]	202	201
Fuel Derivatives Liability, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net		4	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		2,630	3,006
Restricted cash		124	206
Level 2 | Corporate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		861	891
Level 2 | Asset-backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		764	710
Level 2 | CDARS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		252	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		97	72
Level 2 | Other Fixed Income Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		50	26
Level 2 | Fuel Derivatives Liability, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, net		4	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")		$ 23	26
Level 3 | Auction Rate Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments			$ 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 Liabilit37

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 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 Fai38

Financial Instruments and Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016
EETC
Fair Value [Line Items]
Available-for-sale securities remaining maturities	2,019
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	33 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

Carrying Values and Estimated F

Carrying Values and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 10,581	$ 10,897
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt fair value	11,218	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	8,359	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	$ 2,859	$ 2,725

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)gal	Dec. 31, 2015USD ($)
Derivatives And Hedging Activities [Line Items]
Percentage of projection for hedging financial instruments for the remainder of 2016	13.00%
Volume of fuel hedging for the remainder of 2016 | gal	126,000,000
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	16.00%
Fair value of derivative liability	$ 4	$ 124
Percentage of projection of Japanese yen for hedging financial instruments for remainder of 2016	18.00%
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

Description of Derivative Instr

Description of Derivative Instruments (Detail) - Cash Flow Hedging - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fuel contracts, liabilities	$ 4	$ 124
Designated as Hedging Instrument | Fuel Derivative Instruments
Derivatives, Fair Value [Line Items]
Fuel contracts, liabilities	$ 4	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	Sep. 30, 2016	Dec. 31, 2015
Fuel Derivative Instruments
Offsetting Asset and Liabilities [Line Items]
Potential net fair value positions elected to offset	$ (4)	$ (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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	$ (6)	$ (181)	$ (5)	$ (227)
Loss Reclassified from AOCI into Fuel Expense	(24)	(150)	(197)	(429)
Amount of Loss Recognized in Nonoperating income (expense): Miscellaneous, net (Ineffective Portion)	$ 0	$ 0	$ 0	$ 0

Schedule of Derivative Instrume

Schedule of Derivative Instruments not Designated as Hedges Losses (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized in Nonoperating income (expense): Miscellaneous, net	$ (67)	$ (69)

Schedule of Commitments to Purc

Schedule of Commitments to Purchase Aircrafts (Detail) - United Airlines, Inc. - Capital Addition Purchase Commitments	Sep. 30, 2016Aircraft	[1]
Airbus A350-1000 Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	35
Boeing 737NG/737 MAX Aircraft
Long-term Purchase Commitment [Line Items]
Number of new aircraft committed to purchase	172
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	21
[1]	United also has options and purchase rights for additional aircraft.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended					9 Months Ended
	Oct. 17, 2016	Sep. 30, 2016USD ($)EmployeeAircraft	Aug. 31, 2016	Mar. 31, 2016Contract	Jan. 31, 2016	Sep. 30, 2016USD ($)EmployeeAircraftContract
Aircraft Mortgage Debt
Commitments and Contingencies [Line Items]
Guarantor obligations, maximum exposure		$ 171,000,000				$ 171,000,000
Floating Rate Debt
Commitments and Contingencies [Line Items]
Debt instrument principal amount		2,500,000,000				2,500,000,000
Fixed Rate Debt
Commitments and Contingencies [Line Items]
Debt instrument principal amount		97,000,000				97,000,000
Loans And Leases From Non U S Entities
Commitments and Contingencies [Line Items]
Debt instrument principal amount		2,600,000,000				2,600,000,000
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		$ 376,000,000				$ 376,000,000
Minimum | Tax-exempt special facilities revenue bonds
Commitments and Contingencies [Line Items]
Debt instrument maturity year						2,017
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
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 And The Association Of Flight Attendants
Commitments and Contingencies [Line Items]
Contract period			5 years
Int'1 Brotherhood of Teamsters
Commitments and Contingencies [Line Items]
Contract period		6 years
Metropolitan Washington Airports Authority | Subsequent Event
Commitments and Contingencies [Line Items]
Lease extension term	7 years
Operating lease expiration year	2,024
United Airlines, Inc.
Commitments and Contingencies [Line Items]
Borrowed principal amount		$ 272,000,000				$ 272,000,000
Debt instrument maturity year						2,028
Number of employees | Employee		87,500				87,500
Percentage of employees represented by various U.S. labor organizations						80.00%
United Airlines, Inc. | EETC
Commitments and Contingencies [Line Items]
Borrowed principal amount		$ 1,700,000,000				$ 1,700,000,000
Debt instrument principal amount		$ 321,000,000				$ 321,000,000
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		7				7
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

Schedule of Acquisition of Airc

Schedule of Acquisition of Aircrafts and Related Spare Engines (Detail) $ in Billions	Sep. 30, 2016USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Last three months of 2016	$ 1.2
2,017	4.5
2,018	4.1
2,019	3.3
2,020	2.6
After 2,020	6.9
Total commitments	$ 22.6

Future Minimum Lease Payments f

Future Minimum Lease Payments for Capital and Operating Leases (Detail) - Facility and Other Operating Leases $ in Millions	Sep. 30, 2016USD ($)
Operating Leased Assets [Line Items]
Last three months of 2016	$ 200
2,017	1,156
2,018	1,024
2,019	954
2,020	1,083
After 2,020	7,450
Operating leases obligations	$ 11,867

Debt - Additional Information (

Debt - Additional Information (Detail) - United Airlines, Inc. - USD ($) shares in Millions, $ in Millions	May 01, 2015	Apr. 01, 2015	Mar. 31, 2015	Jun. 30, 2016	Sep. 30, 2016
Debt Instrument [Line Items]
Borrowed principal amount					$ 272
Debt instrument maturity year					2,028
Unsecured Debt | 4.5% Convertible Notes Due 2015
Debt Instrument [Line Items]
Debt instrument maturity year				2,015
Debt instrument stated interest rate				4.50%
Long-term Debt, Gross			$ 202
Common stock issued in exchange for convertible notes			11
Unsecured Debt | 6% Notes Due 2026
Debt Instrument [Line Items]
Debt instrument maturity year			2,026
Debt instrument stated interest rate			6.00%
Debt purchased and retired		$ 303	$ 18
Unsecured Debt | 6% Notes Due 2028
Debt Instrument [Line Items]
Debt instrument maturity year			2,028
Debt instrument stated interest rate			6.00%
Debt purchased and retired	$ 298		$ 13
Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Available under revolving credit facility					$ 1,350

Details of Pass Through Trusts

Details of Pass Through Trusts (Detail) - United Airlines, Inc. $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Class AA Pass Through Certificates | September Twenty Sixteen [Member]
Debt Instrument [Line Items]
Principal	$ 637
Final expected distribution date	2028-10
Stated interest rate	2.875%
Remaining proceeds from issuance of debt to be received in future periods	$ 637
Class AA Pass Through Certificates | June 2016
Debt Instrument [Line Items]
Principal	$ 729
Final expected distribution date	2028-07
Stated interest rate	3.10%
Total debt recorded	$ 222
Remaining proceeds from issuance of debt to be received in future periods	507
Class A Pass Through Certificates | September Twenty Sixteen [Member]
Debt Instrument [Line Items]
Principal	$ 283
Final expected distribution date	2028-10
Stated interest rate	3.10%
Remaining proceeds from issuance of debt to be received in future periods	$ 283
Class A Pass Through Certificates | June 2016
Debt Instrument [Line Items]
Principal	$ 324
Final expected distribution date	2028-07
Stated interest rate	3.45%
Total debt recorded	$ 99
Remaining proceeds from issuance of debt to be received in future periods	225
EETC
Debt Instrument [Line Items]
Principal	1,973
Total debt recorded	321
Remaining proceeds from issuance of debt to be received in future periods	$ 1,652

Components of Special Items (De

Components of Special Items (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating:
Labor agreement costs	$ 14		$ 124
Severance and benefit costs	13	$ 28	27	$ 103
Cleveland airport lease restructuring			74
(Gains) losses on sale of assets and other special charges	18	48	32	92
Special charges	45	76	669	195
Nonoperating and income taxes:
Losses on extinguishment of debt and other		61	(1)	195
Income tax benefit related to special charges	(16)		(241)
Total special charges, net of tax	29	137	427	390
Income tax valuation allowance release (Note 4)		(3,218)		(3,218)
Total special items	$ 29	$ (3,081)	427	$ (2,828)
Newark Liberty International Airport
Operating:
Impairment of intangible asset related to Newark Liberty International Airport ("Newark") slots			$ 412

Special Items - Additional Info

Special Items - Additional Information (Detail)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2016Contract	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Contractplan	Sep. 30, 2015USD ($)	Dec. 31, 2014Attendant	Dec. 31, 2015USD ($)
Special Charges [Line Items]
Labor agreement costs		$ 14,000,000		$ 124,000,000
Severance and benefits costs		13,000,000	$ 28,000,000	27,000,000	$ 103,000,000
Severance and benefits costs net of tax		8,000,000		17,000,000
Charge related to the amended lease				$ 74,000,000
Lease maturity year				2,029
(Gains) losses on sale of assets and other special charges		18,000,000	48,000,000	$ 32,000,000	92,000,000
(Gains) losses on sale of assets and other special charges net of tax		12,000,000		20,000,000
Venezuela local currency loss			61,000,000	8,000,000
Venezuela local currency loss net of tax				5,000,000
Sale of an affiliate				9,000,000
Sale of an affiliate net of tax				6,000,000
Write off of unamortized discount					134,000,000
Accrual severance and benefit		34,000,000	$ 110,000,000	$ 34,000,000	$ 110,000,000
Severance-related accrual expected payment date				2,016
Newark Liberty International Airport
Special Charges [Line Items]
Impairment of indefinite-lived intangible assets				$ 412,000,000
Impairment of indefinite-lived intangible assets, net of tax benefits				$ 264,000,000
Flight Attendant Postretirement Medical Plan | Postretirement Medical Plan
Special Charges [Line Items]
Number of plans amended | plan				2
Curtailment gain recognition of prior service credit		47,000,000		$ 47,000,000
Curtailment gain recognition of prior service credit,net of tax				$ 30,000,000
Int'1 Association of Machinists
Special Charges [Line Items]
Number of new contracts extended | Contract	7			7
Service contract extended year	2,021			2,021
Labor agreement costs		61,000,000		$ 171,000,000
Labor agreement costs net of tax		$ 39,000,000		109,000,000
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

Schedule of Severance Related A

Schedule of Severance Related Accruals (Detail) - Severance and Benefits $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Schedule Of Accrual Activity [Line Items]
Beginning Balance	$ 27
Accrual	27
Payments	(20)
Ending Balance	$ 34