CONSOLIDATED BALANCE SHEETS (UA) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 5,942	$ 8,769
Short-term investments	6,298	5,706
Receivables, net	2,391	2,163
Aircraft fuel, spare parts and supplies, net	1,556	1,572
Prepaid expenses and other	671	673
Total current assets	16,857	18,883
Operating property and equipment, net	46,121	42,908
Operating lease right-of-use assets	4,958	3,815
Goodwill	4,527	4,527
Intangible assets, net	2,655	2,683
Investments in affiliates and other, net	1,330	1,267
Total noncurrent assets	59,591	55,200
Total assets	76,448	74,083
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	4,567	4,193
Accrued salaries and benefits	3,900	3,289
Advance ticket sales	8,131	7,561
Frequent flyer deferred revenue	3,721	3,403
Current maturities of long-term debt, finance leases, and other financial liabilities	4,426	3,453
Current maturities of operating leases	631	467
Other	757	948
Total current liabilities	26,133	23,314
Long-term debt, finance leases, and other financial liabilities	20,562	25,203
Long-term obligations under operating leases	5,417	4,510
Frequent flyer deferred revenue	4,056	4,038
Pension and postretirement benefit liability	1,058	1,233
Deferred income taxes	2,463	1,580
Other	1,478	1,530
Total noncurrent liabilities	35,033	38,094
Commitments and Contingencies
Stockholders' equity:
Common stock at par, $0.01 par value; authorized 1,000 shares; issued and outstanding 1,000 shares at December 31, 2025 and 2024	4	4
Additional capital invested	8,911	8,980
Retained earnings	10,092	6,880
Accumulated other comprehensive income	48	188
Total stockholders' equity	15,282	12,675
Total liabilities and stockholders' equity	76,448	74,083
United Airlines, Inc.
ASSETS
Cash and cash equivalents	5,942	8,769
Short-term investments	6,298	5,706
Receivables, net	2,391	2,163
Aircraft fuel, spare parts and supplies, net	1,556	1,572
Prepaid expenses and other	671	673
Total current assets	16,857	18,883
Operating property and equipment, net	46,121	42,908
Operating lease right-of-use assets	4,958	3,815
Goodwill	4,527	4,527
Intangible assets, net	2,655	2,683
Investments in affiliates and other, net	1,330	1,267
Total noncurrent assets	59,591	55,200
Total assets	76,448	74,083
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	4,567	4,193
Accrued salaries and benefits	3,900	3,289
Advance ticket sales	8,131	7,561
Frequent flyer deferred revenue	3,721	3,403
Current maturities of long-term debt, finance leases, and other financial liabilities	4,426	3,453
Current maturities of operating leases	631	467
Other	754	949
Total current liabilities	26,130	23,315
Long-term debt, finance leases, and other financial liabilities	20,562	25,203
Long-term obligations under operating leases	5,417	4,510
Frequent flyer deferred revenue	4,056	4,038
Pension and postretirement benefit liability	1,058	1,233
Deferred income taxes	2,493	1,610
Other	1,478	1,530
Total noncurrent liabilities	35,064	38,124
Commitments and Contingencies
Stockholders' equity:
Common stock at par, $0.01 par value; authorized 1,000 shares; issued and outstanding 1,000 shares at December 31, 2025 and 2024	0	0
Additional capital invested	760	617
Retained earnings	12,842	9,487
Accumulated other comprehensive income	48	188
Payable to parent	1,604	2,352
Total stockholders' equity	15,254	12,644
Total liabilities and stockholders' equity	$ 76,448	$ 74,083

United Airlines Holdings, Inc. 10-K