UNITED AIRLINES, INC.
For the period ended Jul 15, 2026. Filed Jul 15, 2026.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Jul 15, 2026 · Filed Jul 15, 2026
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EX-99.1 · NOTES (UNAUDITED)
NOTES (UNAUDITED)
Special charges (credits) and unrealized gains on investments, net include the following:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in millions) | 2026 | 2025 | 2026 | 2025 |
| Operating: | ||||
| Labor contract ratification bonuses | $184 | $561 | $184 | $561 |
| (Gains) losses on sale of assets and other special charges | (329) | (114) | (718) | (222) |
| Total operating special charges (credits) | (145) | 447 | (534) | 340 |
| Nonoperating: | ||||
| Nonoperating unrealized gains on investments, net | (40) | (26) | (26) | (5) |
| Nonoperating debt extinguishment and modification fees | 1 | — | 5 | — |
| Total nonoperating special charges and unrealized gains on investments, net | (38) | (26) | (21) | (5) |
| Total operating and nonoperating special charges (credits) and unrealized gains on investments, net | (183) | 422 | (555) | 335 |
| Income tax expense (benefit), net of valuation allowance | 27 | (128) | 89 | (127) |
| Total operating and nonoperating special charges (credits) and unrealized gains on investments, net of income taxes | $(156) | $293 | $(466) | $208 |
During the three and six months ended June 30, 2026, the company recorded $184 million of expense associated with the recently ratified agreements with the company's flight attendants represented by the Association of Flight Attendants ("AFA") and the company's fleet technical instructors, storekeepers, maintenance instructors and security officers represented by the International Association of Machinists and Aerospace Workers. During the three and six months ended June 30, 2025, the company recorded a $561 million special charge in connection with the then-existing tentative agreement with its flight attendants represented by the AFA.
During the three and six months ended June 30, 2026, the company recorded $329 million and $718 million, respectively, of net gains on sale of assets and other special charges, which were primarily comprised of $351 million and $796 million, respectively, of gains on various aircraft sale-leaseback transactions. During the three and six months ended June 30, 2025, the company recorded $114 million and $222 million, respectively, of net gains on sale of assets and other special charges, which were primarily comprised of $151 million and $261 million, respectively, of gains on various aircraft sale-leaseback transactions.
The company's effective tax rates were as follows:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Effective tax rate | 21.6% | 22.0% | 20.7% | 21.2% |
The provision for income taxes is based on the estimated annual effective tax rate, which represents a blend of federal, state and foreign taxes and includes the impact of certain nondeductible items.
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