Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

16. Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2016 and 2015 (in millions, except share and per share amounts):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2016
Operating revenues	$	9,435	$	10,363	$	10,594	$	9,789
Operating expenses		8,100		8,612		9,163		9,022
Operating income		1,335		1,751		1,431		767
Net income		700		950		737		289
Earnings per share:
Basic	$	1.15	$	1.69	$	1.40	$	0.56
Diluted	$	1.14	$	1.68	$	1.40	$	0.56
Shares used for computation (in thousands):
Basic		606,245		563,000		525,415		514,571
Diluted		611,488		566,040		528,510		518,358

2015
Operating revenues	$	9,827	$	10,827	$	10,706	$	9,630
Operating expenses		8,611		8,906		8,707		8,562
Operating income		1,216		1,921		1,999		1,068
Net income		932		1,704		1,693		3,281
Earnings per share:
Basic	$	1.34	$	2.47	$	2.56	$	5.24
Diluted	$	1.30	$	2.41	$	2.49	$	5.09
Shares used for computation (in thousands):
Basic		696,415		688,727		661,869		626,559
Diluted		716,930		707,611		680,739		644,140

Our fourth quarter 2016 results include $273 million of total net special charges consisting principally of $121 million of Merger integration expenses, $104 million of fleet restructuring expenses and a $47 million net charge consisting of mark-to-market adjustments for bankruptcy obligations.

Our fourth quarter 2015 results include $2.0 billion of total net special credits consisting principally of a $3.0 billion non-cash tax benefit recorded in connection with the reversal of our tax valuation allowance, offset in part by a nonoperating net special charge of $592 million to write off all of the value of Venezuelan bolivars held by us due to continued lack of repatriations and deterioration of economic conditions in Venezuela and $450 million in total operating special charges primarily consisting of Merger integration expenses and fleet restructuring expenses.

American Airlines, Inc. [Member]

Quarterly Financial Data (Unaudited)

14. Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2016 and 2015 (in millions):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2016
Operating revenues	$	9,427	$	10,360	$	10,591	$	9,786
Operating expenses		8,104		8,603		9,159		8,995
Operating income		1,323		1,757		1,432		791
Net income		710		972		758		341

2015
Operating revenues	$	9,811	$	10,814	$	10,694	$	9,619
Operating expenses		8,610		8,893		8,691		8,555
Operating income		1,201		1,921		2,003		1,064
Net income		937		1,709		1,723		3,751

American’s fourth quarter 2016 results include $273 million of total net special charges consisting principally of $121 million of Merger integration expenses, $104 million of fleet restructuring expenses and a $47 million net charge consisting of mark-to-market adjustments for bankruptcy obligations.

American’s fourth quarter 2015 results include $2.5 billion of total net special credits consisting principally of a $3.5 billion non-cash tax benefit recorded in connection with the reversal of American’s tax valuation allowance, offset in part by a nonoperating net special charge of $592 million to write off all of the value of Venezuelan bolivars held by American due to continued lack of repatriations and deterioration of economic conditions in Venezuela and $447 million in total operating special charges primarily consisting of Merger integration expenses and fleet restructuring expenses.