filings.toolsItem 6. SELECTED FINANCIAL DATA.
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Item 6. SELECTED FINANCIAL DATA.
UAL's consolidated financial statements and statistical data are provided in the tables below:
| Year Ended December 31, | ||||||||||||||||||||
| 2019 | 2018 (a) | 2017 (a) | 2016 | 2015 | ||||||||||||||||
| Income Statement Data (in millions, except per share amounts): | ||||||||||||||||||||
| Operating revenue | $ | 43,259 | $ | 41,303 | $ | 37,784 | $ | 36,558 | $ | 37,864 | ||||||||||
| Operating expense | 38,958 | 38,074 | 34,166 | 32,214 | 32,698 | |||||||||||||||
| Operating income | 4,301 | 3,229 | 3,618 | 4,344 | 5,166 | |||||||||||||||
| Net income | 3,009 | 2,122 | 2,143 | 2,234 | 7,340 | |||||||||||||||
| Basic earnings per share | 11.63 | 7.70 | 7.08 | 6.77 | 19.52 | |||||||||||||||
| Diluted earnings per share | 11.58 | 7.67 | 7.06 | 6.76 | 19.47 | |||||||||||||||
| Balance Sheet Data at December 31 (in millions): | ||||||||||||||||||||
| Unrestricted cash, cash equivalents and short-term investments | $ | 4,944 | $ | 3,950 | $ | 3,798 | $ | 4,428 | $ | 5,196 | ||||||||||
| Total assets | 52,611 | 49,024 | 47,469 | 40,208 | 40,861 | |||||||||||||||
| Debt and finance lease obligations (b) | 14,818 | 13,792 | 13,576 | 11,705 | 11,759 |
(a) Amounts adjusted due to the adoption of Accounting Standard Update No. 2016-02, Leases (Topic 842). See Note 1 to the financial statements contained in Part II, Item 8 of this report for additional information.
(b) Finance leases, under Topic 842, are the equivalent of capital leases under Financial Accounting Standards Board Accounting Standards Codification Topic 840, Leases.
| Year Ended December 31, | ||||||||||||||||||||
| 2019 | 2018 | 2017 | 2016 | 2015 | ||||||||||||||||
| Select operating statistics (a) | ||||||||||||||||||||
| Passengers (thousands) (b) | 162,443 | 158,330 | 148,067 | 143,177 | 140,369 | |||||||||||||||
| Revenue passenger miles ("RPMs") (millions) (c) | 239,360 | 230,155 | 216,261 | 210,309 | 208,611 | |||||||||||||||
| Available seat miles ("ASMs") (millions) (d) | 284,999 | 275,262 | 262,386 | 253,590 | 250,003 | |||||||||||||||
| Cargo revenue ton miles (millions) (e) | 3,329 | 3,425 | 3,316 | 2,805 | 2,614 | |||||||||||||||
| Passenger load factor (f) | 84.0 | % | 83.6 | % | 82.4 | % | 82.9 | % | 83.4 | % | ||||||||||
| Passenger revenue per available seat mile ("PRASM") (cents) | 13.90 | 13.70 | 13.13 | 13.18 | 13.11 | |||||||||||||||
| Total revenue per available seat mile ("TRASM") (cents) | 15.18 | 15.00 | 14.40 | 14.42 | 15.15 | |||||||||||||||
| Average yield per revenue passenger mile ("Yield") (cents) (g) | 16.55 | 16.38 | 15.93 | 15.90 | 15.72 | |||||||||||||||
| Cost per available seat mile ("CASM") (cents) | 13.67 | 13.83 | 13.02 | 12.70 | 13.08 | |||||||||||||||
| Average price per gallon of fuel, including fuel taxes | $ | 2.09 | $ | 2.25 | $ | 1.74 | $ | 1.49 | $ | 1.94 | ||||||||||
| Fuel gallons consumed (millions) | 4,292 | 4,137 | 3,978 | 3,904 | 3,886 | |||||||||||||||
| Average stage length (miles) (h) | 1,460 | 1,446 | 1,460 | 1,473 | 1,487 | |||||||||||||||
| Average daily utilization of each mainline aircraft (hours:minutes) (i) | 10:39 | 10:45 | 10:27 | 10:06 | 10:24 |
(a) Includes data from our regional carriers operating under CPAs unless otherwise noted.
(b) The number of revenue passengers measured by each flight segment flown.
(c) The number of scheduled miles flown by revenue passengers.
(d) The number of seats available for passengers multiplied by the number of scheduled miles those seats are flown.
(e) The number of cargo revenue tons transported multiplied by the number of miles flown.
(f) RPM divided by ASM.
(g) The average passenger revenue received for each revenue passenger mile flown.
(h) Average stage length equals the average distance a flight travels weighted for size of aircraft.
(i) The average number of hours per day that an aircraft flown in revenue service is operated (from gate departure to gate arrival).
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