Common-Size Income Statement
Quarterly Data

United Airlines Holdings Inc., common-size consolidated income statement (quarterly data)

3 months ended:	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Passenger revenue	89.89%	90.34%	90.49%	89.41%	83.90%	83.96%	85.64%	79.80%	71.90%	70.63%	66.25%	46.17%	88.54%	91.23%	92.10%	91.97%	90.99%	91.10%	91.97%	91.68%	90.22%
Cargo	3.48%	3.81%	3.87%	4.74%	8.29%	8.87%	6.70%	11.08%	15.43%	16.41%	16.95%	27.25%	3.31%	2.90%	2.48%	2.59%	2.98%	3.18%	2.69%	2.91%	3.24%
Other operating revenue	6.62%	5.85%	5.64%	5.85%	7.81%	7.17%	7.66%	9.12%	12.67%	12.95%	16.79%	26.58%	8.15%	5.87%	5.42%	5.45%	6.03%	5.72%	5.33%	5.41%	6.53%
Operating revenue	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Salaries and related costs	-29.07%	-24.19%	-22.08%	-23.41%	-36.84%	-31.48%	-32.09%	-41.60%	-69.05%	-63.54%	-89.55%	-147.12%	-37.03%	-28.27%	-26.92%	-26.81%	-29.96%	-27.87%	-26.63%	-26.71%	-30.18%
Aircraft fuel	-27.77%	-26.75%	-29.16%	-31.46%	-29.47%	-23.95%	-22.06%	-22.52%	-26.42%	-19.90%	-20.41%	-16.27%	-21.63%	-20.66%	-20.18%	-20.92%	-21.10%	-22.69%	-23.38%	-22.18%	-21.76%
Landing fees and other rent	-6.27%	-5.30%	-4.96%	-5.52%	-8.09%	-8.31%	-8.41%	-10.31%	-16.11%	-16.85%	-20.09%	-29.08%	-7.81%	-5.97%	-5.67%	-5.79%	-6.13%	-5.74%	-5.42%	-5.60%	-6.18%
Aircraft maintenance materials and outside repairs	-6.14%	-4.84%	-4.81%	-4.35%	-5.38%	-4.87%	-4.46%	-5.52%	-8.35%	-5.83%	-4.62%	-7.46%	-5.44%	-4.36%	-4.31%	-3.69%	-4.25%	-4.14%	-4.14%	-4.06%	-4.87%
Depreciation and amortization	-5.73%	-5.03%	-4.74%	-5.04%	-8.08%	-7.56%	-8.04%	-11.33%	-19.34%	-18.43%	-25.15%	-41.90%	-7.71%	-5.57%	-5.05%	-4.91%	-5.70%	-5.51%	-5.13%	-5.17%	-5.99%
Regional capacity purchase	-5.38%	-4.60%	-4.63%	-4.68%	-7.47%	-7.34%	-6.71%	-10.00%	-14.87%	-14.33%	-17.08%	-26.31%	-9.24%	-6.66%	-6.34%	-6.27%	-7.17%	-6.08%	-6.03%	-6.32%	-6.85%
Distribution expenses	-3.53%	-3.50%	-3.74%	-3.24%	-2.99%	-2.87%	-2.81%	-2.54%	-2.64%	-2.34%	-2.13%	-2.10%	-3.70%	-3.83%	-3.80%	-3.88%	-3.75%	-3.77%	-3.88%	-3.65%	-3.79%
Aircraft rent	-0.49%	-0.48%	-0.50%	-0.55%	-0.81%	-0.77%	-0.75%	-0.95%	-1.71%	-1.49%	-2.01%	-3.19%	-0.63%	-0.62%	-0.59%	-0.64%	-0.84%	-0.74%	-0.99%	-1.10%	-1.41%
Special (charges) credits	-0.12%	-0.13%	-0.16%	-0.92%	0.11%	-0.68%	14.17%	17.33%	42.75%	4.37%	43.43%	98.24%	-0.79%	-1.19%	-0.24%	-0.62%	-0.19%	-2.87%	-0.15%	-1.20%	-0.44%
Other operating expenses	-15.87%	-14.07%	-13.90%	-13.56%	-19.18%	-17.15%	-15.45%	-17.49%	-27.13%	-24.21%	-27.28%	-35.80%	-18.21%	-14.97%	-13.98%	-13.56%	-15.73%	-14.37%	-13.33%	-13.25%	-15.48%
Operating expense	-100.38%	-88.90%	-88.68%	-92.75%	-118.19%	-104.98%	-86.62%	-104.94%	-142.87%	-162.57%	-164.89%	-210.98%	-112.18%	-92.09%	-87.06%	-87.09%	-94.84%	-93.79%	-89.07%	-89.23%	-96.94%
Operating income (loss)	-0.38%	11.10%	11.32%	7.25%	-18.19%	-4.98%	13.38%	-4.94%	-42.87%	-62.57%	-64.89%	-110.98%	-12.18%	7.91%	12.94%	12.91%	5.16%	6.21%	10.93%	10.77%	3.06%
Interest expense, net of interest capitalized	-3.92%	-3.60%	-3.32%	-3.29%	-5.29%	-4.96%	-5.56%	-7.38%	-10.43%	-9.79%	-13.22%	-12.14%	-1.88%	-1.30%	-1.49%	-1.49%	-1.73%	-1.62%	-1.54%	-1.51%	-1.74%
Interest income	1.49%	1.26%	0.81%	0.27%	0.07%	0.07%	0.14%	0.22%	0.22%	0.15%	0.32%	0.75%	0.33%	0.28%	0.32%	0.33%	0.30%	0.30%	0.25%	0.23%	0.19%
Unrealized gains (losses) on investments, net	0.21%	0.26%	0.22%	-0.33%	0.00%	-1.53%	-0.44%	2.69%	-0.68%	2.96%	0.60%	0.61%	-4.00%	0.74%	0.18%	0.30%	0.18%	0.00%	0.00%	0.00%	0.00%
Miscellaneous, net	0.36%	0.10%	-0.07%	-0.12%	0.25%	1.07%	0.26%	-0.90%	-0.59%	-0.29%	-16.51%	-14.03%	-8.76%	0.12%	-0.11%	-0.18%	-0.08%	0.41%	-0.01%	-1.54%	0.53%
Nonoperating expense, net	-1.86%	-1.99%	-2.37%	-3.46%	-4.97%	-5.33%	-5.60%	-5.37%	-11.49%	-6.98%	-28.81%	-24.81%	-14.31%	-0.16%	-1.09%	-1.03%	-1.33%	-0.92%	-1.29%	-2.82%	-1.02%
Income (loss) before income tax (expense) benefit	-2.24%	9.11%	8.95%	3.79%	-23.16%	-10.31%	7.78%	-10.31%	-54.36%	-69.55%	-93.69%	-135.80%	-26.49%	7.75%	11.85%	11.88%	3.83%	5.30%	9.64%	7.95%	2.04%
Income tax (expense) benefit	0.54%	-2.31%	-1.64%	-1.07%	4.96%	2.43%	-1.68%	2.38%	12.23%	13.95%	19.73%	25.49%	5.14%	-1.86%	-2.86%	-2.65%	-0.78%	-0.90%	-2.04%	-1.61%	-0.41%
Net income (loss)	-1.70%	6.80%	7.32%	2.72%	-18.20%	-7.89%	6.10%	-7.93%	-42.13%	-55.60%	-73.97%	-110.31%	-21.36%	5.89%	9.00%	9.23%	3.05%	4.40%	7.60%	6.35%	1.63%

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Income statement item	Description	The company
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	United Airlines Holdings Inc. operating income (loss) as a percentage of operating revenue decreased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.
Income (loss) before income tax (expense) benefit	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	United Airlines Holdings Inc. income (loss) before income tax (expense) benefit as a percentage of operating revenue increased from Q3 2022 to Q4 2022 but then decreased significantly from Q4 2022 to Q1 2023.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	United Airlines Holdings Inc. net income (loss) as a percentage of operating revenue decreased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

United Airlines Holdings Inc. (NASDAQ:UAL)

Common-Size Income StatementQuarterly Data

Common-Size Income Statement
Quarterly Data