XML 61 R38.htm IDEA: XBRL DOCUMENT v3.24.0.1
Special Items, Net (Tables)
 12 Months Ended
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]  
Components of Special Items, Net Included in Consolidated Statements of Operations
Special items, net on our consolidated statements of operations consisted of the following (in millions):
 Year Ended December 31,
 202320222021
Labor contract expenses (1)
$989 $— $— 
Severance expenses (2)
23 — 168 
Fleet impairment (3)
— 149 — 
Litigation reserve adjustments— 37 (19)
PSP Financial Assistance (4)
— — (4,162)
Other operating special items, net(41)7 7 
Mainline operating special items, net971 193 (4,006)
PSP Financial Assistance (4)
— — (539)
Regional pilot retention program (5)
— — 61 
Fleet impairment (3)
— — 27 
Severance expenses (2)
— — 2 
Other operating special items, net8 5 — 
Regional operating special items, net8 5 (449)
Operating special items, net979 198 (4,455)
Debt refinancing, extinguishment and other, net (6)
280 3 29 
Mark-to-market adjustments on equity and other investments, net (7)
82 71 31 
Nonoperating special items, net362 74 60 
Income tax special items, net— (9)— 
(1)Labor contract expenses relate to one-time charges resulting from the ratification of a new collective bargaining agreement with our mainline pilots, including a one-time payment of $754 million as well as adjustments to other benefit-related items of $235 million.
(2)Severance expenses for 2023 included costs associated with headcount reductions in certain corporate functions.
Severance expenses for 2021 included salary and medical costs primarily associated with certain team members who opted into voluntary early retirement programs offered as a result of reductions to our operation due to the COVID-19 pandemic.
(3)Fleet impairment for 2022 included a non-cash impairment charge to write down the carrying value of our retired Airbus A330 fleet to the estimated fair value due to the market conditions for certain used aircraft. We retired our Airbus A330 fleet in 2020 as a result of the decline in demand for air travel due to the COVID-19 pandemic.
Fleet impairment for 2021 included a non-cash impairment charge to write down regional aircraft resulting from the retirement of the remaining Embraer 140 fleet earlier than planned.
(4)The PSP Financial Assistance represents recognition of a portion of the financial assistance received from Treasury pursuant to the payroll support programs established by the U.S. Government. See Note 1(b) for further information.
(5)Our regional pilot retention program provides for, among other things, a cash retention bonus paid in the fourth quarter of 2021 to eligible captains at our wholly-owned regional carriers included on the pilot seniority list as of September 1, 2021.
(6)Debt refinancing and extinguishment costs in 2023 primarily included cash charges for premiums paid in connection with the early repayment of debt. See Note 4 for further information.
(7)Mark-to-market adjustments on equity and other investments, net principally included net unrealized gains and losses associated with certain equity investments and certain other investments. See Note 8 for further information related to our equity investments.
American Airlines, Inc.  
Restructuring Cost and Reserve [Line Items]  
Components of Special Items, Net Included in Consolidated Statements of Operations
Special items, net on American’s consolidated statements of operations consisted of the following (in millions):
 Year Ended December 31,
 202320222021
Labor contract expenses (1)
$989 $— $— 
Severance expenses (2)
23 — 168 
Fleet impairment (3)
— 149 — 
Litigation reserve adjustments— 37 (19)
PSP Financial Assistance (4)
— — (4,162)
Other operating special items, net(41)7 7 
Mainline operating special items, net971 193 (4,006)
PSP Financial Assistance (4)
— — (539)
Fleet impairment (3)
— — 27 
Regional operating special items, net— — (512)
Operating special items, net971 193 (4,518)
Debt refinancing, extinguishment and other, net (5)
280 1 29 
Mark-to-market adjustments on equity and other investments, net (6)
82 71 31 
Nonoperating special items, net362 72 60 
Income tax special items, net— (9)— 
(1)Labor contract expenses relate to one-time charges resulting from the ratification of a new collective bargaining agreement with American’s mainline pilots, including a one-time payment of $754 million as well as adjustments to other benefit-related items of $235 million.
(2)Severance expenses for 2023 included costs associated with headcount reductions in certain corporate functions.
Severance expenses for 2021 included salary and medical costs primarily associated with certain team members who opted into voluntary early retirement programs offered as a result of reductions to American’s operation due to the COVID-19 pandemic.
(3)Fleet impairment for 2022 included a non-cash impairment charge to write down the carrying value of American’s retired Airbus A330 fleet to the estimated fair value due to the market conditions for certain used aircraft. American retired its Airbus A330 fleet in 2020 as a result of the decline in demand for air travel due to the COVID-19 pandemic.
Fleet impairment for 2021 included a non-cash impairment charge to write down regional aircraft resulting from the retirement of the remaining Embraer 140 fleet earlier than planned.
(4)The PSP Financial Assistance represents recognition of a portion of the financial assistance received from Treasury pursuant to the payroll support programs established by the U.S. Government. See Note 1(b) for further information.
(5)Debt refinancing and extinguishment costs in 2023 primarily included cash charges for premiums paid in connection with the early repayment of debt. See Note 3 for further information.
(6)Mark-to-market adjustments on equity and other investments, net principally included net unrealized gains and losses associated with certain equity investments and certain other investments. See Note 7 for further information related to American’s equity investments.