Analysis of Inventory
Inventory Disclosure
United Airlines Holdings Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aircraft fuel, spare parts and supplies, less obsolescence allowance | 1,556) | 1,572) | 1,561) | 1,109) | 983) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The value of aircraft fuel, spare parts and supplies, less obsolescence allowance, exhibited an overall increasing trend from 2021 to 2023, followed by stabilization and a slight decrease in subsequent years. A detailed examination reveals specific patterns in the reported values.
- Overall Trend
- The reported value increased from US$983 million in 2021 to US$1,561 million in 2023, representing a 58.7% increase over the two-year period. This growth suggests a potential increase in operational activity, expansion of the fleet, or rising costs of materials during this timeframe. Following 2023, the value remained relatively stable, decreasing slightly to US$1,556 million in 2025.
- Year-over-Year Changes
- From 2021 to 2022, the value increased by US$126 million, or 12.9%. The most substantial year-over-year increase occurred between 2022 and 2023, with a rise of US$452 million, or 40.8%. The change from 2023 to 2024 was minimal, an increase of only US$11 million, or 0.7%. Finally, a slight decrease of US$16 million, or 1.0%, was observed between 2024 and 2025.
- Stabilization and Recent Decline
- The values for 2024 and 2025 are nearly identical, indicating a potential stabilization of inventory levels after the significant growth experienced in prior years. The minor decrease in 2025 could suggest improved inventory management, reduced operational needs, or a decrease in the cost of supplies. Further investigation would be needed to determine the underlying cause.
The observed patterns suggest a period of growth followed by a period of consolidation. The relatively stable values in the most recent years may indicate a mature stage in inventory management, or could be a response to external economic factors.