Exhibit 12.2
United Airlines, Inc. and Subsidiary Companies
Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratios) | Six Months Ended June 30, 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||
Earnings (losses): | ||||||||||||||||||||||||
Earnings (loss) before income taxes | $ | 1,426 | $ | 4,221 | $ | 1,110 | $ | 637 | $ | (657) | $ | 848 | ||||||||||||
Add (deduct): | ||||||||||||||||||||||||
Fixed charges, from below | 697 | 1,429 | 1,655 | 1,627 | 1,514 | 2,005 | ||||||||||||||||||
Amortization of capitalized interest | 6 | 12 | 12 | 11 | 9 | 7 | ||||||||||||||||||
Distributed earnings of affiliates | — | 1 | 1 | — | — | 1 | ||||||||||||||||||
Interest capitalized | (28) | (49) | (52) | (49) | (37) | (32) | ||||||||||||||||||
Equity earnings in affiliates | 2 | (2) | (1) | (1) | (4) | (6) | ||||||||||||||||||
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Earnings as adjusted | $ | 2,103 | $ | 5,612 | $ | 2,725 | $ | 2,225 | $ | 825 | $ | 2,823 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 316 | $ | 670 | $ | 742 | $ | 781 | $ | 823 | $ | 937 | ||||||||||||
Portion of rent expense representative of the interest factor (a) | 381 | 759 | 913 | 846 | 691 | 1,068 | ||||||||||||||||||
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Fixed charges | $ | 697 | $ | 1,429 | $ | 1,655 | $ | 1,627 | $ | 1,514 | $ | 2,005 | ||||||||||||
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Ratio of earnings to fixed charges | 3.02 | 3.93 | 1.65 | 1.37 | (b) | 1.41 | ||||||||||||||||||
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(a) Imputed interest applied to rent expense.
(b) Earnings were inadequate to cover fixed charges by $689 million in 2012.