UNITED AIRLINES, INC.
For the period ended Sep 30, 2025. Filed Oct 16, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 16, 2025
UAL$120.38+6.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
Table of Contents
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In millions, except shares)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $6,730 | $8,769 |
| Short-term investments | 6,599 | 5,706 |
| Receivables, net | 2,433 | 2,163 |
| Aircraft fuel, spare parts and supplies, net | 1,588 | 1,572 |
| Prepaid expenses and other | 744 | 673 |
| Total current assets | 18,094 | 18,883 |
| Operating property and equipment, net | 44,968 | 42,908 |
| Operating lease right-of-use assets | 4,821 | 3,815 |
| Goodwill | 4,527 | 4,527 |
| Intangible assets, net | 2,662 | 2,683 |
| Investments in affiliates and other, net | 1,242 | 1,267 |
| Total noncurrent assets | 58,219 | 55,200 |
| Total assets | $76,313 | $74,083 |
| LIABILITIES AND STOCKHOLDER'S EQUITY | ||
| Accounts payable | $4,636 | $4,193 |
| Accrued salaries and benefits | 3,555 | 3,289 |
| Advance ticket sales | 9,338 | 7,561 |
| Frequent flyer deferred revenue | 3,642 | 3,403 |
| Current maturities of long-term debt, finance leases, and other financial liabilities | 4,621 | 3,453 |
| Current maturities of operating leases | 563 | 467 |
| Other | 761 | 949 |
| Total current liabilities | 27,116 | 23,315 |
| Long-term debt, finance leases, and other financial liabilities | 20,807 | 25,203 |
| Long-term obligations under operating leases | 5,331 | 4,510 |
| Frequent flyer deferred revenue | 4,060 | 4,038 |
| Pension and postretirement benefit liability | 974 | 1,233 |
| Deferred income taxes | 2,236 | 1,610 |
| Other | 1,508 | 1,530 |
| Total noncurrent liabilities | 34,916 | 38,124 |
| Commitments and contingencies | ||
| Stockholder's equity: | ||
| Common stock at par, $0.01 par value; authorized 1,000 shares; issued and outstanding 1,000 shares at both September 30, 2025 and December 31, 2024 | — | — |
| Additional capital invested | 727 | 617 |
| Retained earnings | 11,798 | 9,487 |
| Accumulated other comprehensive income | 123 | 188 |
| Payable to parent | 1,633 | 2,352 |
| Total stockholder's equity | 14,281 | 12,644 |
| Total liabilities and stockholder's equity | $76,313 | $74,083 |
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