2021 Q4 Form 10-K Financial Statement

#000010051722000009 Filed on February 18, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $8.192B $24.63B $3.412B
YoY Change 140.09% 60.43% -68.66%
Cost Of Revenue $3.706B $11.86B $1.993B
YoY Change 85.95% 41.64% -52.16%
Gross Profit $4.486B $12.77B $1.419B
YoY Change 216.14% 82.98% -78.89%
Gross Profit Margin 54.76% 51.85% 41.59%
Selling, General & Admin $2.814B $10.34B $2.248B
YoY Change 25.18% 2.72% -35.68%
% of Gross Profit 62.73% 80.97% 158.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $619.0M $2.485B $629.0M
YoY Change -1.59% -0.12% 3.8%
% of Gross Profit 13.8% 19.46% 44.33%
Operating Expenses $4.838B $17.16B $3.703B
YoY Change 30.65% 7.56% -35.39%
Operating Profit -$352.0M -$1.022B -$2.135B
YoY Change -83.51% -83.93% -347.97%
Interest Expense -$525.0M -$1.575B -$228.0M
YoY Change 130.26% 38.64% -642.86%
% of Operating Profit
Other Income/Expense, Net $88.00M -$1.535B -$10.00M
YoY Change -980.0% -37.68% -83.05%
Pretax Income -$845.0M -$2.557B -$2.373B
YoY Change -64.39% -71.02% -381.16%
Income Tax -$199.0M -$593.0M -$476.0M
% Of Pretax Income
Net Earnings -$646.0M -$1.964B -$1.897B
YoY Change -65.95% -72.22% -395.94%
Net Earnings / Revenue -7.89% -7.97% -55.6%
Basic Earnings Per Share -$6.10 -$6.39
Diluted Earnings Per Share -$1.996M -$6.10 -$6.387M
COMMON SHARES
Basic Shares Outstanding 323.8M shares 321.9M shares 291.0M shares
Diluted Shares Outstanding 321.9M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.41B $18.41B $11.68B
YoY Change 57.55% 57.55% 136.31%
Cash & Equivalents $18.28B $18.28B $11.27B
Short-Term Investments $123.0M $123.0M $414.0M
Other Short-Term Assets $782.0M $782.0M $890.0M
YoY Change -12.13% -12.13% 9.34%
Inventory $983.0M $983.0M $932.0M
Prepaid Expenses
Receivables $1.663B $1.663B $1.295B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.83B $21.83B $14.80B
YoY Change 47.53% 47.53% 80.62%
LONG-TERM ASSETS
Property, Plant & Equipment $36.72B $36.72B $36.00B
YoY Change 1.99% 1.99% 19.33%
Goodwill $4.527B $4.527B
YoY Change 0.0% 0.09%
Intangibles $2.803B $2.838B
YoY Change -1.23% -5.68%
Long-Term Investments $171.0M $1.344B $139.0M
YoY Change 23.02% 34.4% 10.32%
Other Assets $9.622B $872.0M $8.745B
YoY Change 10.03% 149.86% -7.84%
Total Long-Term Assets $46.34B $46.34B $44.75B
YoY Change 3.56% 3.56% 0.75%
TOTAL ASSETS
Total Short-Term Assets $21.83B $21.83B $14.80B
Total Long-Term Assets $46.34B $46.34B $44.75B
Total Assets $68.18B $68.18B $59.55B
YoY Change 14.49% 14.49% 13.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.562B $2.562B $1.595B
YoY Change 60.63% 60.63% -40.99%
Accrued Expenses $2.677B $2.677B $2.572B
YoY Change 4.08% 4.08% -13.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.002B $3.078B $1.911B
YoY Change 57.09% 47.06% 35.82%
Total Short-Term Liabilities $18.30B $18.30B $12.73B
YoY Change 43.84% 43.84% -14.81%
LONG-TERM LIABILITIES
Long-Term Debt $30.36B $30.58B $24.84B
YoY Change 22.25% 22.03% 88.94%
Other Long-Term Liabilities $1.284B $14.26B $1.156B
YoY Change 11.07% -9.75% 12.89%
Total Long-Term Liabilities $31.65B $44.84B $25.99B
YoY Change 21.75% 9.74% 83.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.30B $18.30B $12.73B
Total Long-Term Liabilities $31.65B $44.84B $25.99B
Total Liabilities $49.95B $63.15B $38.72B
YoY Change 29.01% 17.84% 33.02%
SHAREHOLDERS EQUITY
Retained Earnings $625.0M $2.626B
YoY Change -76.2% -72.97%
Common Stock $9.160B $8.370B
YoY Change 9.44% 36.5%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.814B $3.897B
YoY Change -2.13% 8.28%
Treasury Stock Shares
Shareholders Equity $5.029B $5.029B $5.960B
YoY Change
Total Liabilities & Shareholders Equity $68.18B $68.18B $59.55B
YoY Change 14.49% 14.49% 13.19%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$646.0M -$1.964B -$1.897B
YoY Change -65.95% -72.22% -395.94%
Depreciation, Depletion And Amortization $619.0M $2.485B $629.0M
YoY Change -1.59% -0.12% 3.8%
Cash From Operating Activities -$269.0M $2.067B -$2.177B
YoY Change -87.64% -150.01% -284.34%
INVESTING ACTIVITIES
Capital Expenditures -$536.0M -$2.107B -$97.00M
YoY Change 452.58% 22.0% -91.86%
Acquisitions
YoY Change
Other Investing Activities $188.0M $1.000M $137.0M
YoY Change 37.23% -125.0% -200.0%
Cash From Investing Activities -$348.0M -$1.672B $40.00M
YoY Change -970.0% -3444.0% -103.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $5.205B
YoY Change 16.99%
Cash From Financing Activities -575.0M $6.396B 481.0M
YoY Change -219.54% -50.64% -1123.4%
NET CHANGE
Cash From Operating Activities -269.0M $2.067B -2.177B
Cash From Investing Activities -348.0M -$1.672B 40.00M
Cash From Financing Activities -575.0M $6.396B 481.0M
Net Change In Cash -1.192B $6.791B -1.656B
YoY Change -28.02% -23.47% 749.23%
FREE CASH FLOW
Cash From Operating Activities -$269.0M $2.067B -$2.177B
Capital Expenditures -$536.0M -$2.107B -$97.00M
Free Cash Flow $267.0M $4.174B -$2.080B
YoY Change -112.84% -273.48% -187.65%

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825000000 USD
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219000000 USD
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415000000 USD
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CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
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3982000000 USD
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17 aircraft
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CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2020 us-gaap Finance Lease Interest Payment On Liability
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CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
70000000 USD
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
216000000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
788000000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
902000000 USD
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
18000000 USD
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
66000000 USD
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
151000000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
2100000000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2100000000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
2000000000.0 USD
CY2021Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1700000000 USD
CY2021Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
1500000000 USD
CY2021Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
4200000000 USD
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
13600000000 USD
CY2021 ual Number Of Call Options To Purchase Regional Jet Aircraft
NumberOfCallOptionsToPurchaseRegionalJetAircraft
251 option
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
5700000000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
6900000000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
5000000000.0 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
4300000000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
3300000000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
8900000000 USD
CY2021Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
34100000000 USD
CY2021 us-gaap Unusual Or Infrequent Item Gain Gross
UnusualOrInfrequentItemGainGross
4021000000 USD
CY2020 us-gaap Unusual Or Infrequent Item Gain Gross
UnusualOrInfrequentItemGainGross
3536000000 USD
CY2019 us-gaap Unusual Or Infrequent Item Gain Gross
UnusualOrInfrequentItemGainGross
0 USD
CY2021 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
438000000 USD
CY2020 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
575000000 USD
CY2019 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
16000000 USD
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
97000000 USD
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
318000000 USD
CY2019 us-gaap Asset Impairment Charges
AssetImpairmentCharges
171000000 USD
CY2021 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
-119000000 USD
CY2020 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
-27000000 USD
CY2019 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
-59000000 USD
CY2021 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
-3367000000 USD
CY2020 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
-2616000000 USD
CY2019 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
246000000 USD
CY2021 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
-34000000 USD
CY2020 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
-194000000 USD
CY2019 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
153000000 USD
CY2021 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
-50000000 USD
CY2020 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
0 USD
CY2019 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
0 USD
CY2021 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
DefinedBenefitPlanNetPeriodicBenefitCostCreditGainLossDueToSettlementRestructuringAndSpecialAndContractualTerminationBenefits
-31000000 USD
CY2020 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
DefinedBenefitPlanNetPeriodicBenefitCostCreditGainLossDueToSettlementRestructuringAndSpecialAndContractualTerminationBenefits
-687000000 USD
CY2019 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
DefinedBenefitPlanNetPeriodicBenefitCostCreditGainLossDueToSettlementRestructuringAndSpecialAndContractualTerminationBenefits
0 USD
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2020 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
697000000 USD
CY2019 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2021 ual Special Charges And Losses On Financial Instruments Non Operating Before Tax
SpecialChargesAndLossesOnFinancialInstrumentsNonOperatingBeforeTax
115000000 USD
CY2020 ual Special Charges And Losses On Financial Instruments Non Operating Before Tax
SpecialChargesAndLossesOnFinancialInstrumentsNonOperatingBeforeTax
1578000000 USD
CY2019 ual Special Charges And Losses On Financial Instruments Non Operating Before Tax
SpecialChargesAndLossesOnFinancialInstrumentsNonOperatingBeforeTax
-153000000 USD
CY2021 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
50000000 USD
CY2021 ual Special Charges And Losses On Financial Instruments Operating And Nonoperating Before Tax
SpecialChargesAndLossesOnFinancialInstrumentsOperatingAndNonoperatingBeforeTax
-3252000000 USD
CY2020 ual Special Charges And Losses On Financial Instruments Operating And Nonoperating Before Tax
SpecialChargesAndLossesOnFinancialInstrumentsOperatingAndNonoperatingBeforeTax
-1038000000 USD
CY2019 ual Special Charges And Losses On Financial Instruments Operating And Nonoperating Before Tax
SpecialChargesAndLossesOnFinancialInstrumentsOperatingAndNonoperatingBeforeTax
93000000 USD
CY2021 ual Income Tax Expense Benefit Special Charges
IncomeTaxExpenseBenefitSpecialCharges
728000000 USD
CY2020 ual Income Tax Expense Benefit Special Charges
IncomeTaxExpenseBenefitSpecialCharges
404000000 USD
CY2019 ual Income Tax Expense Benefit Special Charges
IncomeTaxExpenseBenefitSpecialCharges
-21000000 USD
CY2020 ual Proceeds From Government Assistance
ProceedsFromGovernmentAssistance
5100000000 USD
CY2021 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
-2524000000 USD
CY2020 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
-634000000 USD
CY2019 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
72000000 USD
CY2021 ual Proceeds From Government Assistance
ProceedsFromGovernmentAssistance
5800000000 USD
CY2021 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
1700000000 USD
CY2021 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
438000000 USD
CY2021Q4 ual Number Of Aircraft And Related Spare Engines Retired
NumberOfAircraftAndRelatedSpareEnginesRetired
64 aircraft
CY2021 ual Gain Loss On Net Charges
GainLossOnNetCharges
119000000 USD
CY2021 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
-34000000 USD
CY2020 ual Proceeds From Government Assistance Grants
ProceedsFromGovernmentAssistanceGrants
3600000000 USD
CY2020 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
1500000000 USD
CY2020 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
66000000 USD
CY2020 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
575000000 USD
CY2020 us-gaap Impairment Of Leasehold
ImpairmentOfLeasehold
38000000 USD
CY2020 us-gaap Impairment Of Ongoing Project
ImpairmentOfOngoingProject
56000000 USD
CY2020 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
-194000000 USD
CY2020 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
DefinedBenefitPlanNetPeriodicBenefitCostCreditGainLossDueToSettlementRestructuringAndSpecialAndContractualTerminationBenefits
-687000000 USD
CY2020 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
697000000 USD
CY2019 ual Special Charges Adjustment Write Off Unexercise And Impairments Of Aircraft
SpecialChargesAdjustmentWriteOffUnexerciseAndImpairmentsOfAircraft
18000000 USD
CY2019 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
20000000 USD
CY2019 us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
-25000000 USD
CY2019 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-18000000 USD
CY2019 ual Fleet Type Transaction Costs
FleetTypeTransactionCosts
-14000000 USD
CY2019 us-gaap Other Restructuring Costs
OtherRestructuringCosts
2000000 USD
CY2019 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
153000000 USD
CY2021 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2021 dei Auditor Location
AuditorLocation
Chicago, Illinois
CY2021 dei Auditor Firm
AuditorFirmId
42

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