United Airlines Holdings (UAL) FY2014 results: revenue $38.9 billion, up 1.6% on the year
United Airlines Holdings, Inc. (UAL) reported revenue of $38.9 billion for fiscal 2014, the year ended 31 December 2014, up 1.6% on the year before. Net income was $1.1 billion, up 98.2%, and diluted earnings per share $2.93. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$38.9 billion
+1.6% on the year
FY2008FY2014
Operating margin
6.1%
3.3% a year earlier
FY2008FY2014
Net income
$1.1 billion
+98.2% on the year
FY2008FY2014
Diluted EPS
$2.93
+91.5% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
38,901
38,279
37,152
+1.6%
Operating income
2,373
1,249
39.0
+90.0%
Operating margin
6.1%
3.3%
0.1%
Interest expense
735
783
835
-6.1%
Pre-tax income
1,128
539
-724
+109.3%
Income tax
-4.0
-32.0
-1.0
Effective tax rate
-0.4%
-5.9%
n/a
Net income
1,132
571
-723
+98.2%
Net margin
2.9%
1.5%
-1.9%
Diluted EPS
$2.93
$1.53
-$2.18
+91.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
2,634
1,444
935
+82.4%
Capital expenditure
2,005
2,164
2,016
-7.3%
Free cash flow
629
-720
-1,081
Free cash flow margin
1.6%
-1.9%
-2.9%
Cash from investing
n/a
-2,022
-1,957
Cash from financing
n/a
-972
-454
Depreciation and amortisation
1,679
1,689
1,522
-0.6%
Share-based compensation
114
11.0
14.0
+936.4%
Buybacks
312
3.0
4.0
+10,300.0%
Diluted shares, weighted
390m
390m
331m
0.0%
Shares outstanding at period end
375m
362m
332m
+3.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,396
2,984
481
-19.7%
Debt
11,266
11,708
12,404
-3.8%
Other liabilities
22,933
22,120
24,743
+3.7%
Total liabilities and equity
36,595
36,812
37,628
-0.6%
Fixed assets
19,467
18,047
17,292
+7.9%
Goodwill
4,523
4,523
4,523
0.0%
Intangible assets
4,284
4,436
4,597
-3.4%
Investments
2,382
1,901
1,773
+25.3%
Cash and equivalents
2,002
3,220
4,770
-37.8%
Receivables
1,146
1,503
1,338
-23.8%
Other assets
2,791
3,182
3,335
-12.3%
Total assets
36,595
36,812
37,628
-0.6%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.