XML 48 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements Of Operations (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Operating revenues        
Mainline passenger $ 8,093 $ 5,253 $ 23,564 $ 14,755
Regional passenger 1,665 766 4,779 2,197
Cargo 215 164 643 489
Other 1,166 645 3,504 1,934
Total operating revenues 11,139 6,828 32,490 19,375
Operating expenses        
Aircraft fuel and related taxes 2,829 1,950 8,370 5,764
Salaries, wages and benefits 2,137 1,380 6,419 3,931
Regional expenses 1,668 785 4,919 2,334
Maintenance, materials and repairs 529 289 1,528 932
Other rent and landing fees 431 279 1,297 851
Aircraft rent 306 192 937 538
Selling expenses 393 294 1,196 857
Depreciation and amortization 334 204 960 615
Special items, net 221 15 [1] 335 98
Other 1,031 739 3,140 2,171
Total operating expenses 9,879 6,127 29,101 18,091
Operating income 1,260 701 3,389 1,284
Nonoperating income (expense)        
Interest income 7 5 22 14
Interest expense, net of capitalized interest (210) (226) (667) (642)
Other, net (108) (40) (99) (76)
Total nonoperating expense, net (311) (261) (744) (704)
Income before reorganization items, net 949 440 2,645 580
Reorganization items, net 0 [2] (151) [2] 0 [2] (435) [2]
Income before income taxes 949 289 2,645 145
Income tax provision (benefit) 7 0 360 (22)
Net income 942 289 2,285 167
Earnings per share:        
Basic (usd per share) $ 1.31 $ 1.16 $ 3.17 $ 0.67
Diluted (usd per share) $ 1.28 $ 1.02 $ 3.10 $ 0.65
Weighted average shares outstanding (in thousands):        
Basic (in shares) 719,067 249,719 721,213 249,599
Diluted (in shares) 735,196 289,036 737,100 288,339
AA [Member]
       
Operating revenues        
Mainline passenger 5,321 5,253 15,579 14,755
Regional passenger 748 766 2,202 2,197
Cargo 175 164 521 489
Other 811 633 2,374 1,897
Total operating revenues 7,055 6,816 20,676 19,338
Operating expenses        
Aircraft fuel and related taxes 1,894 1,951 5,662 5,764
Salaries, wages and benefits 1,412 1,379 4,251 3,925
Regional expenses 790 779 2,352 2,306
Maintenance, materials and repairs 353 288 1,031 932
Other rent and landing fees 279 280 853 851
Aircraft rent 211 192 641 538
Selling expenses 278 294 844 857
Depreciation and amortization 230 204 664 615
Special items, net 164 [3] 15 [3] 127 [3] 98 [3]
Other 746 748 2,258 2,198
Total operating expenses 6,357 6,130 18,683 18,084
Operating income 698 686 1,993 1,254
Nonoperating income (expense)        
Interest income 5 5 18 14
Interest expense, net of capitalized interest (136) (212) (443) (527)
Other, net (97) (38) (85) (72)
Total nonoperating expense, net (228) (245) (510) (585)
Income before reorganization items, net 470 441 1,483 669
Reorganization items, net 0 [4] (151) [4] 0 [4] (434) [4]
Income before income taxes 470 290 1,483 235
Income tax provision (benefit) 5 0 351 (30)
Net income $ 465 $ 290 $ 1,132 $ 265
[1] The 2014 third quarter mainline operating special items totaled a net charge of $221 million, which principally included $166 million of merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation expense, re-branding of aircraft and airport facilities, relocation and training, as well as $99 million in other charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other asset impairments. These charges were offset in part by a net $40 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2014 nine month period mainline operating special items totaled a net charge of $335 million, which principally included $530 million of merger integration expenses as described above, $99 million in other charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other asset impairments, as well as $46 million in charges primarily relating to the buyout of certain aircraft leases. These charges were offset in part by a $309 million gain on the sale of slots at DCA and a net $35 million credit for bankruptcy related items as described above.
[2] In the 2013 third quarter and nine month periods, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees.
[3] The 2014 third quarter mainline operating special items totaled a net charge of $164 million, which principally included $103 million of merger integration expenses related to information technology, alignment of labor union contracts, professional fees, severance and retention, share-based compensation expense, re-branding of aircraft and airport facilities, relocation and training, as well as $99 million in other charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other asset impairments. These charges were offset in part by a net $40 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2014 nine month period mainline operating special items totaled a net charge of $127 million, which principally included $337 million of merger integration expenses as described above, $99 million in other charges, including an $81 million charge to revise prior estimates of certain aircraft residual values, and other asset impairments, as well as $35 million in charges primarily relating to the buyout of certain aircraft leases. These charges were offset in part by a $305 million gain on the sale of slots at DCA and a net $57 million credit for bankruptcy related items as described above.
[4] In the 2013 third quarter and nine month periods, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees.