Exhibit 12.2
United Airlines, Inc. and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
| (In millions, except ratios) | Six Months Ended June 30, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Earnings (losses): | ||||||||||||||||||||||||
| Earnings (loss) before income taxes | $ | 1,420 | $ | 3,822 | $ | 4,221 | $ | 1,110 | $ | 637 | $ | (657) | ||||||||||||
Add (deduct): | ||||||||||||||||||||||||
Fixed charges, from below | 684 | 1,370 | 1,429 | 1,655 | 1,627 | 1,514 | ||||||||||||||||||
Amortization of capitalized interest | 4 | 11 | 12 | 12 | 11 | 9 | ||||||||||||||||||
Distributed earnings of affiliates | — | 1 | 1 | 1 | — | — | ||||||||||||||||||
Interest capitalized | (44) | (72) | (49) | (52) | (49) | (37) | ||||||||||||||||||
Equity (earnings) loss in affiliates | 3 | — | (2) | (1) | (1) | (4) | ||||||||||||||||||
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Earnings as adjusted | $ | 2,067 | $ | 5,132 | $ | 5,612 | $ | 2,725 | $ | 2,225 | $ | 825 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
| Interest expense | $ | 308 | $ | 614 | $ | 670 | $ | 742 | $ | 781 | $ | 823 | ||||||||||||
| Portion of rent expense representative of the interest factor (a) | 376 | 756 | 759 | 913 | 846 | 691 | ||||||||||||||||||
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Fixed charges | $ | 684 | $ | 1,370 | $ | 1,429 | $ | 1,655 | $ | 1,627 | $ | 1,514 | ||||||||||||
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Ratio of earnings to fixed charges | 3.02 | 3.75 | 3.93 | 1.65 | 1.37 | (b) | ||||||||||||||||||
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(a) Imputed interest applied to rent expense.
(b) Earnings were inadequate to cover fixed charges by $689 million in 2012.
