Debt and Interest Rates - The company has 8.5billioninvariableratedebt,withaprojectedincreaseininterestexpenseof64 million for a 100 basis point increase in rates [280]. - A 100 basis point increase in interest rates would result in an increase in the company's interest income of approximately 144millionduring2025[281].−Thecompanyhas5.3 billion of loans from non-U.S. entities that could be affected by changes in tax laws [280]. - The company manages its debt structure and foreign exchange exposure to control financial risks and maintain long-term financial flexibility [279]. - The company does not foresee significant changes in its strategies to manage market risk in the near future [279]. Revenue and Income - Total operating revenue for 2024 reached 57,063million,a6.353,717 million in 2023 [319]. - Passenger revenue increased to 51,829millionin2024,up5.749,046 million in 2023 [319]. - Net income for 2024 was 3,149million,representinga20.22,618 million in 2023 [319]. - Earnings per share (EPS) for 2024 were 9.58,upfrom7.98 in 2023, reflecting a 20% increase [319]. - Operating income improved to 5,099millionin2024,comparedto4,214 million in 2023, reflecting a growth of 21% [331]. Operating Expenses - Total operating expenses rose to 51,967millionin2024,a4.949,506 million in 2023 [319]. - Salaries and related costs increased to 16,678millionin2024,upfrom14,787 million in 2023, reflecting a rise of 12.8% [331]. - Operating expenses for 2024 totaled 51,964million,anincreaseof5.949,503 million in 2023 [331]. Cash and Assets - Cash and cash equivalents at the end of 2024 were 8,946million,anincreasefrom6,334 million at the end of 2023 [326]. - Total assets increased to 74,083millionin2024,upfrom71,104 million in 2023 [324]. - Net cash provided by operating activities for 2024 was 9,445million,comparedto6,911 million in 2023, marking a 36.6% increase [326]. Stockholder's Equity - Total stockholder's equity grew to 12,644millionin2024,comparedto9,294 million in 2023, representing a growth of 36.5% [336]. - Retained earnings increased to 9,487millionin2024,upfrom6,336 million in 2023 [336]. Comprehensive Income - The company reported a total comprehensive income of 3,399millionfor2024,comparedto2,381 million in 2023 [321]. - Other comprehensive income for 2024 was 250million,comparedtoalossof237 million in 2023 [333]. Fuel and Currency Exposure - A one-dollar change in the price of a barrel of aircraft fuel would change the company's projected fuel expense by approximately 112millionin2025[283].−Auniform114 million for the year ending December 31, 2025 [285]. - The company does not currently hedge fuel price volatility but regularly reviews its policy based on market conditions [283]. Intangible Assets and Impairment - The carrying value of the company's China route authority intangible asset is 1.0billion,subjecttoannualimpairmenttesting[297].−ThefairvalueestimateoftheChinaintangibleassetissensitivetosignificantassumptionssuchasforecastedrevenuesanddiscountrates,whichcouldtriggerimpairmentchargesifadverselychanged[298].EmployeeandPensionObligations−Theaccumulatedbenefitobligationforpensionbenefitswas3,752 million as of December 31, 2024, down from 3,910millionin2023[415].−Theprojectedbenefitobligationattheendof2024was4,315 million, compared to 4,550millionattheendof2023[415].−Thenetperiodicbenefitcostforpensionbenefitsin2024was108 million, compared to 102millionin2023,indicatingariseofabout5.95,615 million, a decrease from 7,171millionin2023[339].−United′sfirmcommitmentsforaircraftandrelatedcapitalexpenditurestotalapproximately54.4 billion through 2029 [456]. Special Charges and Nonoperating Items - The company recorded total operating special charges of 112millionin2024,comparedto949 million in 2023 [468]. - Nonoperating special charges and unrealized losses on investments totaled 327millionin2024,comparedtoagainof16 million in 2023 [468].
United(UAL)2025-02-27 21:04