Quarterly Financial Data

12 Months Ended

Dec. 31, 2015

20. Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2015 and 2014 (in millions, except share and per share amounts):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
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
2014
Operating revenues	$	9,995	$	11,355	$	11,139	$	10,160
Operating expenses		9,265		9,956		9,879		9,300
Operating income		730		1,399		1,260		860
Net income		480		864		942		597
Earnings per share:
Basic	$	0.66	$	1.20	$	1.31	$	0.84
Diluted	$	0.65	$	1.17	$	1.28	$	0.82
Shares used for computation (in thousands):
Basic		723,971		720,600		719,067		706,185
Diluted		741,335		734,767		735,196		724,767

The Company’s 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 the Company’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 the Company 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.

The Company’s fourth quarter 2014 results include $507 million of total net special charges consisting principally of $280 million of merger integration expenses, a net $116 million charge for bankruptcy related items principally consisting of fair value adjustments for bankruptcy settlement obligations and a $70 million charge related primarily to certain spare parts asset impairments.

American Airlines, Inc. [Member]

Quarterly Financial Data

18. Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2015 and 2014 (in millions):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2015
Operating revenues	$	9,842	$	10,849	$	10,733	$	9,660
Operating expenses		8,641		8,928		8,730		8,596
Operating income		1,201		1,921		2,003		1,064
Net income		808		1,465		1,450		4,397

2014
Operating revenues	$	10,015	$	11,382	$	11,169	$	10,197
Operating expenses		9,249		9,986		9,905		9,357
Operating income		766		1,396		1,264		840
Net income		527		870		954		597

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.

American’s fourth quarter 2014 results include $495 million of total net special charges consisting principally of $284 million of merger integration expenses, a net $116 million charge for bankruptcy related items principally consisting of fair value adjustments for bankruptcy settlement obligations and a $70 million charge related primarily to certain spare parts asset impairments.