Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
United Airlines Holdings Inc., consolidated statement of comprehensive income
US$ in millions
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 statement of comprehensive income exhibits a significant shift in financial performance over the five-year period. Initial results indicate a substantial loss in 2021, followed by a period of recovery and growth through 2025. The largest fluctuations are observed in net income and other comprehensive income components.
- Net Income
- Net income demonstrates a dramatic turnaround. A loss of approximately US$1.96 billion in 2021 transitioned to a profit of US$737 million in 2022. This positive trend continued, with net income increasing to US$2.62 billion in 2023, US$3.15 billion in 2024, and reaching US$3.35 billion in 2025. This represents consistent profitability growth over the latter part of the observed period.
- Employee Benefit Plans
- The impact of employee benefit plans on comprehensive income is variable. A positive value of US$199 million was recorded in 2021, increasing substantially to US$1.15 billion in 2022. However, this was followed by a negative impact of US$261 million in 2023, a positive impact of US$247 million in 2024, and a negative impact of US$148 million in 2025. These fluctuations suggest changes in benefit plan obligations or related investment performance.
- Investments and Other
- The 'Investments and other' line item shows relatively small values, with a negative impact in 2021 and 2022, followed by positive impacts in 2023, 2024, and 2025. The magnitude of these values remains consistently lower than other components of comprehensive income.
- Other Comprehensive Income
- Other comprehensive income mirrors the volatility seen in net income during the initial period. A positive value of US$197 million in 2021 increased significantly to US$1.12 billion in 2022. A negative value of US$237 million was recorded in 2023, followed by a positive value of US$250 million in 2024, and a negative value of US$139 million in 2025. This suggests substantial unrealized gains or losses, or other items impacting comprehensive income, are present.
- Comprehensive Income
- Comprehensive income, representing the aggregate of net income and other comprehensive income, follows a similar pattern to net income. A loss of US$1.77 billion in 2021 was followed by a profit of US$1.85 billion in 2022. This trend continued with profits of US$2.38 billion in 2023, US$3.40 billion in 2024, and US$3.21 billion in 2025. The overall trend indicates a substantial improvement in the company’s overall financial performance and a return to profitability.
In summary, the period demonstrates a strong recovery from initial losses, driven by improvements in net income. While other comprehensive income components contribute to fluctuations, the overall trend in comprehensive income is positive, indicating improved financial health.
AI Ask an analyst for more