Originally Posted by
Boeing Aviator
Actually first three quarters YTD on a Pre Tax basis we are I believe 100M ahead. Now on a Net profit basis we are way down but that's because all of our loss write offs have been used up and we are paying income tax which we haven't in some time. Hopefully we will continue to track on course on the 4th quarter.
Remember per the UPA our profits sharing is calculated on a pre tax earnings and excludes any special items.
Not quite true.
We are accounting for taxes but not actually paying them. No cash out the door. And we still have NOL's on the book in the several billion$$ range.
From the October investor update:
http://ir.united.com/~/media/Files/U...ate-101116.pdf
Taxes: The Company expects a tax rate of approximately 36% for the third quarter of 2016. However, the Company expects that there will be no material cash taxes due to United’s net operating loss carryforwards (NOLs), which were approximately $8 billion as of year- end 2015. These NOLs are projected to offset (or minimize) cash income taxes for several years.