EX-12 4 extwelv.htm Exhibit 11  

Exhibit 12



United Air Lines, Inc. and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges



 

           
 
2001
2000
1999
1998
1997
Earnings:          
           
  Earnings (losses) before income taxes,           
     extraordinary item and cumulative effect
$(3,327)
$    425 
$  1,885 
$  1,220 
$  1,488 
  Undistributed (earnings) losses of affiliate
(4)
9 
(20)
(62)
(16)
  Fixed charges, from below
883 
1,068 
1,012 
1,002 
1,009 
  Interest capitalized
     (79)
     (77)
     (75)
   (105)
   (104)
     Earnings
$(2,527)
$ 1,425
$  2,802 
$  2,055
$  2,377
           
           
Fixed charges:          
           
  Interest expense
$    540 
$    416 
$    372 
$    362 
$    290 
  Portion of rental expense representative          
     of the interest factor
   343
     652
     640
     640
     719
     Fixed charges
$    883
$ 1,068
$ 1,012
$ 1,002
$ 1,009
           
           
Ratio of earnings to fixed charges
      (a)
   1.33
   2.77
   2.05
   2.36

 

______________

(a)  Earnings were inadequate to cover fixed charges by $3.4 billion in 2001.