UNITED AIRLINES, INC.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
UAL$120.56+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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United Airlines Holdings, Inc.:
STATEMENTS OF CONSOLIDATED OPERATIONS
(In millions, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating revenue: | |||
| Passenger revenue | $53,438 | $51,829 | $49,046 |
| Cargo revenue | 1,779 | 1,743 | 1,495 |
| Other operating revenue | 3,853 | 3,491 | 3,176 |
| Total operating revenue | 59,070 | 57,063 | 53,717 |
| Operating expense: | |||
| Salaries and related costs | 17,647 | 16,678 | 14,787 |
| Aircraft fuel | 11,396 | 11,756 | 12,651 |
| Landing fees and other rent | 3,849 | 3,437 | 3,076 |
| Aircraft maintenance materials and outside repairs | 3,294 | 3,063 | 2,736 |
| Depreciation and amortization | 2,939 | 2,928 | 2,671 |
| Regional capacity purchase | 2,693 | 2,516 | 2,400 |
| Distribution expenses | 2,109 | 2,231 | 1,977 |
| Aircraft rent | 252 | 193 | 197 |
| Special charges | 259 | 112 | 949 |
| Other operating expenses | 9,919 | 9,053 | 8,062 |
| Total operating expense | 54,356 | 51,967 | 49,506 |
| Operating income | 4,713 | 5,096 | 4,211 |
| Nonoperating income (expense): | |||
| Interest expense | (1,373) | (1,629) | (1,956) |
| Interest income | 611 | 726 | 827 |
| Interest capitalized | 206 | 227 | 182 |
| Unrealized gains (losses) on investments, net | 4 | (199) | 27 |
| Miscellaneous, net | 144 | (53) | 96 |
| Total nonoperating expense, net | (408) | (928) | (824) |
| Income before income taxes | 4,306 | 4,168 | 3,387 |
| Income tax expense | 953 | 1,019 | 769 |
| Net income | $3,353 | $3,149 | $2,618 |
| Earnings per share, basic | $10.32 | $9.58 | $7.98 |
| Earnings per share, diluted | $10.20 | $9.45 | $7.89 |
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