2023 Q1 Form 10-K Financial Statement

#000010051723000048 Filed on February 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $11.43B $12.40B $44.96B
YoY Change 51.06% 51.37% 82.49%
Cost Of Revenue $5.264B $5.204B $20.39B
YoY Change 35.85% 40.42% 71.92%
Gross Profit $6.165B $7.196B $24.56B
YoY Change 67.03% 60.41% 92.31%
Gross Profit Margin 53.94% 58.03% 54.64%
Selling, General & Admin $3.725B $3.434B $13.00B
YoY Change 23.63% 22.03% 25.71%
% of Gross Profit 60.42% 47.72% 52.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $655.0M $624.0M $2.456B
YoY Change 7.2% 0.81% -1.17%
% of Gross Profit 10.62% 8.67% 10.0%
Operating Expenses $6.194B $5.803B $22.09B
YoY Change 22.05% 19.95% 28.69%
Operating Profit -$43.00M $1.393B $2.477B
YoY Change -96.88% -495.74% -342.37%
Interest Expense -$254.0M -$259.0M -$1.355B
YoY Change -35.7% -50.67% -13.97%
% of Operating Profit -18.59% -54.7%
Other Income/Expense, Net -$213.0M $12.00M $8.000M
YoY Change -43.35% -86.36% -100.52%
Pretax Income -$256.0M $1.130B $990.0M
YoY Change -85.39% -233.73% -138.72%
Income Tax -$62.00M $287.0M $253.0M
% Of Pretax Income 25.4% 25.56%
Net Earnings -$194.0M $843.0M $737.0M
YoY Change -85.91% -230.5% -137.53%
Net Earnings / Revenue -1.7% 6.8% 1.64%
Basic Earnings Per Share -$0.59 $2.26
Diluted Earnings Per Share -$0.59 $2.551M $2.233M
COMMON SHARES
Basic Shares Outstanding 327.1M shares 326.9M shares 326.4M shares
Diluted Shares Outstanding 327.4M shares 330.1M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.16B $16.41B $16.41B
YoY Change -8.15% -10.82% -10.82%
Cash & Equivalents $7.634B $7.166B $7.166B
Short-Term Investments $9.522B $9.248B $9.248B
Other Short-Term Assets $960.0M $734.0M $734.0M
YoY Change 19.55% -6.14% -6.14%
Inventory $1.196B $1.109B $1.109B
Prepaid Expenses
Receivables $2.274B $1.801B $1.801B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.59B $20.06B $20.06B
YoY Change -4.54% -8.13% -8.13%
LONG-TERM ASSETS
Property, Plant & Equipment $39.86B $38.34B $38.34B
YoY Change 9.31% 4.41% 4.41%
Goodwill $4.527B $4.527B
YoY Change 0.0% 0.0%
Intangibles $2.753B $2.762B
YoY Change -1.4% -1.46%
Long-Term Investments $208.0M $1.373B $1.373B
YoY Change 17.51% 702.92% 2.16%
Other Assets $8.975B $301.0M $301.0M
YoY Change -9.94% -96.87% -65.48%
Total Long-Term Assets $48.83B $47.30B $47.30B
YoY Change 5.18% 2.07% 2.07%
TOTAL ASSETS
Total Short-Term Assets $21.59B $20.06B $20.06B
Total Long-Term Assets $48.83B $47.30B $47.30B
Total Assets $70.42B $67.36B $67.36B
YoY Change 2.0% -1.2% -1.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.858B $3.395B $3.395B
YoY Change 30.07% 32.51% 32.51%
Accrued Expenses $2.580B $2.532B $2.532B
YoY Change 1.34% -5.42% -5.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.206B $3.015B $3.015B
YoY Change 7.08% 0.43% -2.05%
Total Short-Term Liabilities $23.64B $19.99B $19.99B
YoY Change 8.48% 9.22% 9.22%
LONG-TERM LIABILITIES
Long-Term Debt $27.46B $28.40B $28.40B
YoY Change -7.43% -6.47% -7.14%
Other Long-Term Liabilities $1.386B $12.07B $12.07B
YoY Change 7.19% 840.19% -15.36%
Total Long-Term Liabilities $28.85B $40.47B $40.47B
YoY Change -6.82% 27.89% -9.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.64B $19.99B $19.99B
Total Long-Term Liabilities $28.85B $40.47B $40.47B
Total Liabilities $52.48B $60.46B $60.46B
YoY Change -0.5% 21.05% -4.25%
SHAREHOLDERS EQUITY
Retained Earnings $1.020B $1.265B
YoY Change -220.85% 102.4%
Common Stock $8.930B $8.990B
YoY Change -0.3% -1.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.534B
YoY Change -7.34%
Treasury Stock Shares
Shareholders Equity $6.668B $6.896B $6.896B
YoY Change
Total Liabilities & Shareholders Equity $70.42B $67.36B $67.36B
YoY Change 2.0% -1.2% -1.2%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$194.0M $843.0M $737.0M
YoY Change -85.91% -230.5% -137.53%
Depreciation, Depletion And Amortization $655.0M $624.0M $2.456B
YoY Change 7.2% 0.81% -1.17%
Cash From Operating Activities $3.142B $1.158B $6.066B
YoY Change 112.87% -530.48% 193.47%
INVESTING ACTIVITIES
Capital Expenditures $1.843B -$2.539B -$4.819B
YoY Change -558.46% 373.69% 128.71%
Acquisitions
YoY Change
Other Investing Activities -$6.000M -$1.848B -$9.010B
YoY Change -1082.98% -901100.0%
Cash From Investing Activities -$1.968B -$4.387B -$13.83B
YoY Change 357.67% 1160.63% 727.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $820.0M $4.011B
YoY Change 4.73% -22.94%
Cash From Financing Activities -$563.0M -877.0M -3.349B
YoY Change -34.23% 52.52% -152.36%
NET CHANGE
Cash From Operating Activities $3.142B 1.158B 6.066B
Cash From Investing Activities -$1.968B -4.387B -13.83B
Cash From Financing Activities -$563.0M -877.0M -3.349B
Net Change In Cash $611.0M -4.106B -11.11B
YoY Change 221.58% 244.46% -263.63%
FREE CASH FLOW
Cash From Operating Activities $3.142B $1.158B $6.066B
Capital Expenditures $1.843B -$2.539B -$4.819B
Free Cash Flow $1.299B $3.697B $10.89B
YoY Change -30.83% 1284.64% 160.78%

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CY2022Q4 us-gaap Finance Lease Liability Noncurrent
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CY2022Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
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CY2022Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
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CY2022Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
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CY2022Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
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CY2022Q4 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
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CY2022Q4 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
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CY2022Q4 us-gaap Contractual Obligation
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CY2022Q4 ual Contractual Obligation Imputed Interest
ContractualObligationImputedInterest
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CY2022Q4 ual Other Financial Liabilities Current
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CY2022Q4 ual Other Financial Liabilities Noncurrent
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P9Y
CY2021Q4 ual Other Financial Liabilities Weighted Average Remaining Lease Term
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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FinanceLeaseWeightedAverageDiscountRatePercent
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CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
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CY2022Q4 ual Other Financial Liabilities Weighted Average Discount Rate Percent
OtherFinancialLiabilitiesWeightedAverageDiscountRatePercent
0.060
CY2021Q4 ual Other Financial Liabilities Weighted Average Discount Rate Percent
OtherFinancialLiabilitiesWeightedAverageDiscountRatePercent
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CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
919000000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
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OperatingLeasePayments
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CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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FinanceLeasePrincipalPayments
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CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
10200000000 usd
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UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
8000000000.0 usd
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UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
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UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
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UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
16600000000 usd
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53500000000 usd
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CY2022 ual Number Of Call Options To Purchase Regional Jet Aircraft
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UnusualOrInfrequentItemGainGross
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UnusualOrInfrequentItemGainGross
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PostemploymentBenefitsPeriodExpense
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PostemploymentBenefitsPeriodExpense
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CY2022 us-gaap Asset Impairment Charges
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AssetImpairmentCharges
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AssetImpairmentCharges
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CY2022 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
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CY2021 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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CY2020 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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CY2022 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
140000000 usd
CY2021 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
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CY2020 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
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CY2022 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
20000000 usd
CY2021 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
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CY2020 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
-194000000 usd
CY2022 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
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CY2021 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
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CY2020 ual Debt Extinguishment And Modification Fees Non Operating
DebtExtinguishmentAndModificationFeesNonOperating
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CY2022 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 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
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-31000000 usd
CY2020 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
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CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
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CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
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CY2020 us-gaap Provision For Loan Losses Expensed
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CY2022 ual Special Charges And Losses On Financial Instruments Non Operating Before Tax
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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
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CY2022 ual Special Charges And Losses On Financial Instruments Operating And Nonoperating Before Tax
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CY2021 ual Special Charges And Losses On Financial Instruments Operating And Nonoperating Before Tax
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CY2022 ual Income Tax Expense Benefit Special Charges
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CY2021 ual Income Tax Expense Benefit Special Charges
IncomeTaxExpenseBenefitSpecialCharges
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CY2020 ual Income Tax Expense Benefit Special Charges
IncomeTaxExpenseBenefitSpecialCharges
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CY2022 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
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CY2021 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
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CY2020 ual Special Items Net Of Income Tax Benefits
SpecialItemsNetOfIncomeTaxBenefits
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CY2022 ual Gain Loss On Sale Of Other Assets And Other Miscellaneous Charges
GainLossOnSaleOfOtherAssetsAndOtherMiscellaneousCharges
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CY2022 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
94000000 usd
CY2022 ual Loss Contingency Contract Disputes
LossContingencyContractDisputes
23000000 usd
CY2022 ual Gain Loss On Financial Instruments Non Operating
GainLossOnFinancialInstrumentsNonOperating
20000000 usd
CY2022 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
7000000 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
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CY2021 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
50000000 usd
CY2020 ual Proceeds From Government Assistance
ProceedsFromGovernmentAssistance
5100000000 usd
CY2020 ual Proceeds From Government Assistance Grants
ProceedsFromGovernmentAssistanceGrants
3600000000 usd
CY2020 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
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CY2020 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
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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
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CY2020 ual Defined Benefit Plan Net Periodic Benefit Cost Credit Gain Loss Due To Settlement Restructuring And Special And Contractual Termination Benefits
DefinedBenefitPlanNetPeriodicBenefitCostCreditGainLossDueToSettlementRestructuringAndSpecialAndContractualTerminationBenefits
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CY2020 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
697000000 usd
CY2022 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2022 dei Auditor Location
AuditorLocation
Chicago, Illinois
CY2022 dei Auditor Firm
AuditorFirmId
42

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