Originally Posted by
BMEP100
I read today in Howie's missive how UAL accelerated interest payments last year, by pre-paying 1.8 billion in 2014. As I recall that is more than what we reported in net profits- sooo, according to my napking accounting, we would have received far more than double the profit sharing payout if they had not accelerated those interest payments.
In fact far more than double, if as I recall the profit sharing formula increases our payout once we pass a certain amount in annual profits.
Anyone care to check my figures?
Prepayment, or payment of debt, does not affect the amount of our profit sharing.
Our profit sharing is based off of pre tax income, exclusive of any special charges (this year it was early outs for flight attendants, hedging losses etc)