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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
45
S&P 500 Index (GSPC)
100
94
121
140
178
144
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The remaining authority under our most recent $2.0 billion share repur... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
determination to enter into a share repurchase program will be at the discretion of the Board of Directors, subject to applicable legal limitations, and will depend upon our results of operations, f... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
or entities who are not a “citizen of the United States” (as defined under the Aviation Act and administrative interpretations issued by the DOT, its predecessors and successors, from time to time),... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to stockholders that exceed the voting and ownership caps described above.
In addition, to reduce the risk of a potential adverse effect on our ability to use our NOL carryforwards and certain othe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
” for purposes of Section 382 by deterring certain acquisitions of AAG common stock. There is no assurance, however, that the deterrent mechanism will be effective, and such acquisitions may still oc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
acquisition and disposition of our equity interests and specify an exclusive forum for certain stockholder disputes”
and “
Our ability to utilize our NOLs and other carryforwards may be limited.”
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
AAG
The selected consolidated financial data presented below under the captions “Consolidated Statements of Operations data” and “Consolidated Balance Sheet data” for the years ended and as of Dece... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(1,993)
(8,885)
Earnings (loss) per common share:
Basic
0.20
(3.09)
(18.36)
Diluted
0.19
(3.09)
(18.36)
Shares used for computation (in thousands):
Basic
650,345
644,015
483,888
Dil... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,131
Operating lease liabilities
8,024
8,117
8,428
Stockholders’ deficit
(5,799)
(7,340)
(6,867)
(1)
Substantially all defined benefit pension plans were frozen effective November 1, 2012. ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
believe these non-GAAP financial measures may also provide useful information to investors and others. These non-GAAP measures may not be comparable to similarly titled non-GAAP measures of other co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-GAAP measures). Management uses these non-GAAP financial measures to evaluate our current operating performance and to allow for period-to-period comparisons. As net special items may vary from peri... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
193
(4,006)
PSP Financial Assistance (3)
(539)
Regional pilot retention program (5)
61
Fleet impairment (2)
27
Severance expenses (4)
Other operating special items, net
Regional operating s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-Tax Income (Loss) Excluding Net Special Items:
Pre-tax income (loss) – GAAP
186
(2,548)
Adjusted for: Pre-tax special items, net
272
(4,395)
Pre-tax income (loss) excluding net special items
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
AG’s Consolidated Financial Statements in Part II, Item 8A for further information on net special items.
(2)
Fleet impairment for 2022 included a non-cash impairment charge to write down the carryi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
from the U.S. Department of Treasury (Treasury) pursuant to the payroll support programs established by the U.S. Government. See Note 1(b) to AAG’s Consolidated Financial Statements in Part II, Item... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
equity and other investments, net principally included net unrealized gains and losses associated with certain equity investments. See Note 8 to AAG’s Consolidated Financial Statements in Part II, I... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-period financial performance. The adjustment to exclude fuel and net special items allows management an additional tool to understand and analyze our non-fuel costs and core operating performance. A... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
millions)
Total Available Seat Miles (ASM)
260,226
214,535
(In cents)
CASM
18.20
14.42
Operating net special items per ASM (1):
Mainline operating special items, net
(0.07)
1.87
Regional... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
below under the captions “Consolidated Statements of Operations data” and “Consolidated Balance Sheet data” for the years ended and as of December 31, 2022, 2021 and 2020, are derived from American’... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
end of period):
Total assets
70,324
71,145
69,215
Debt and finance leases
30,422
32,094
28,982
Pension and postretirement obligations (1)
2,900
5,117
7,089
Operating lease liabilities
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
2022 Financial Overview
The selected financial data presented below is derived from AAG’s audited consolidated ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
5
Total operating revenues
48,971
29,882
19,089
63.9
Aircraft fuel and related taxes
13,791
6,792
6,999
nm (2)
Salaries, wages and benefits
12,972
11,817
1,155
9.8
Total operating exp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,120
nm
Pre-tax income (loss) – GAAP
186
(2,548)
2,734
nm
Adjusted for: pre-tax net special items (1)
272
(4,395)
4,667
nm
Pre-tax income (loss) excluding net special items
458
(6,943)
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Loss) and Net Income (Loss)
Pre-tax income and net income were $186 million and $127 million, respectively, in 2022. This compares to 2021 pre-tax loss and net loss of $2.5 billion and $2.0 billion,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2021 period also included the recognition of $4.4 billion of net pre-tax special credits, principally related to PSP Financial Assistance. See Note 2 to AAG’s Consolidated Financial Statements in Pa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
In 2022, we reported total operating revenues of $49.0 billion, an increase of $19.1 billion, or 63.9%, as compared to 2021. Passenger revenue was $44.6 billion, an increase of $18.5 billion, or 71.0... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022, cargo revenue was $1.2 billion, a decrease of $81 million, or 6.2%, as compared to 2021, primarily due to a 5.3% decrease in cargo ton miles driven by the discontinuation of our cargo-only fly... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
35.1% increase as compared to 13.93 cents in 2021, driven principally by the increase in passenger revenue as described above.
Fuel
In 2022, aircraft fuel expense totaled $13.8 billion, an increase... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
into transactions to hedge our fuel consumption, although we review that policy from time to time based on market conditions and other factors. As such, and assuming we do not enter into any future ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and the recognition of $4.5 billion of operating net special credits in 2021 principally related to PSP Financial Assistance.
Our 2022 CASM excluding net special items and fuel was 12.83 cents, a d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2.8 billion in undrawn capacity under revolving credit facilities and a total of $220 million in undrawn short-term revolving and other facilities.
During 2022, we completed the following financing ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
our debt financing agreements contain covenants requiring us to maintain an aggregate of at least $2.0 billion of unrestricted cash and cash equivalents and amounts available to be drawn under revol... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The table below sets forth selected operating data for the years ended December 31, 2022 and 2021.
Year Ended December 31,
Increase
2022
2021
Revenue passenger miles (millions) (a)
215,624
161... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(cents) (f)
18.82
13.93
35.1%
Fuel consumption (gallons in millions)
3,901
3,324
17.4%
Average aircraft fuel price including related taxes (dollars per gallon)
3.54
2.04
73.0%
Total oper... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.
(b)
Available seat mile (ASM) – A basic measure of production. One ASM represents one seat flown one mile.
(c)
Passenger load factor – The percentage of available seats that are filled with rev... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
69 regional aircraft in temporary storage as of December 31, 2022 as follows: nine Boeing 737-800, 40 Embraer 145, 19 Bombardier CRJ 700, six Embraer 170 and four Bombardier CRJ 900.
69
Table of C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
48,971
29,882
19,089
63.9
This table presents our passenger revenue and the year-over-year change in certain operating statistics:
Increasevs. Year Ended December 31, 2021
Year EndedDecember ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
continued strength in demand for air travel domestically and in the Atlantic and Latin America regions, resulting in a 7.6 point increase in passenger load factor to 82.9% in 2022, and a 28.1% incre... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$4.5 billion and $3.4 billion, respectively.
Total operating revenues in 2022 increased $19.1 billion, or 63.9%, from 2021 and our TRASM increased 35.1% to 18.82 cents in 2022 from 13.93 cents in 2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
8
Regional expenses
4,385
3,204
1,181
36.9
Maintenance, materials and repairs
2,684
1,979
705
35.6
Other rent and landing fees
2,730
2,619
111
4.2
Aircraft rent
1,395
1,425
(30)
(... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
35.8
Total operating expenses
47,364
30,941
16,423
53.1
Total operating expenses increased $16.4 billion, or 53.1%, in 2022 from 2021 driven by higher aircraft fuel and related taxes and othe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the average price per gallon of aircraft fuel including related taxes to $3.54 in 2022 from $2.04 in 2021 and a 17.4% increase in gallons of fuel consumed due to increased capacity.
Salaries, wages... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
also included the recognition of $539 million of PSP Financial Assistance as a regional operating special credit. See further discussion of operating special items, net below.
Maintenance, material... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
travel, passenger accommodation and ground and cargo handling expenses driven by the increase in flight operations as well as certain general and administrative expenses.
Operating Special Items, N... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(3)
Other operating special items, net
Regional operating special items, net
(449)
Operating special items, net
198
(4,455)
(1)
Fleet impairment for 2022 included a non-cash impairment charg... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of the financial assistance received from Treasury pursuant to the payroll support programs established by the U.S. Government. See Note 1(b) to AAG’s Consolidated Financial Statements in Part II, I... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Ended December 31,
Increase(Decrease)
PercentIncrease(Decrease)
2022
2021
(In millions, except percentage changes)
Interest income
216
18
198
nm
Interest expense, net
(1,962)
(1,800)
(1... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
issued at the end of the first quarter of 2021 and higher interest expense on our variable-rate debt instruments as a result of increased interest rates, offset in part by debt repayments.
In 2022,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
with debt refinancings and extinguishments.
Income Taxes
In 2022, we recorded an income tax provision of $59 million with an effective rate of approximately 32%, which was substantially non-cash. ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022, which will expire in taxable years 2022 through 2042 if unused.
In 2021, we recorded an income tax benefit of $555 million at an effective rate of approximately 22%, which was substantially n... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
PercentIncrease (Decrease)
2022
2021
(In millions, except percentage changes)
Passenger
44,568
26,063
18,505
71.0
Cargo
1,233
1,314
(81)
(6.2)
Other
3,164
2,503
661
26.4
Total oper... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
passenger load factor in 2022, and an increase in passenger yield.
Cargo revenue decreased $81 million, or 6.2%, in 2022 from 2021 primarily due to a decrease in cargo ton miles driven by the disco... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the increase in passenger revenue as described above.
Operating Expenses
Year Ended December 31,
Increase(Decrease)
PercentIncrease(Decrease)
2022
2021
(In millions, except percentage changes... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,425
(30)
(2.1)
Selling expenses
1,815
1,098
717
65.3
Depreciation and amortization
1,969
2,019
(50)
(2.4)
Mainline operating special items, net
193
(4,006)
4,199
nm
Other
5,425
3... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
per gallon of aircraft fuel and increased capacity. In 2021, total operating expenses also included $4.5 billion of net operating special credits principally related to PSP Financial Assistance. See... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
increase in average mainline full-time equivalent employees in 2022 as compared to 2021.
Regional expenses increased $1.2 billion, or 39.7%, in 2022 from 2021 primarily due to contractual rate incr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022 from 2021 primarily due to higher credit card fees and commission expense driven by the overall increase in passenger revenues.
Other operating expenses increased $1.4 billion, or 35.8%, in 20... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Mark-to-market adjustments on bankruptcy obligations, net
(3)
Other operating special items, net
10
Mainline operating special items, net
193
(4,006)
PSP Financial Assistance (2)
(539)
Fleet... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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.
(2)
The PSP Financi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Decrease)
2022
2021
(In millions, except percentage changes)
Interest income
349
34
315
nm
Interest expense, net
(1,872)
(1,642)
(230)
14.0
Other income, net
324
292
32
11.3
Total ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
quarter of 2021 and higher interest expense on American’s variable-rate debt instruments as a result of increased interest rates, offset in part by debt repayments.
In 2022, other nonoperating inco... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
extinguishments.
74
Table of Contents
Income Taxes
American is a member of AAG’s consolidated federal and certain state income tax returns.
In 2022, American recorded an income tax provision of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
billion of NOL carryforwards to reduce future state taxable income at December 31, 2022, which will expire in taxable years 2022 through 2042 if unused.
In 2021, American recorded an income tax ben... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
AG
American
December 31,
December 31,
2022
2021
2022
2021
Cash
440
273
429
265
Short-term investments
8,525
12,158
8,523
12,155
Undrawn facilities
3,033
3,411
3,033
3,411
Total... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
payments, retirements or exchanges, if any, will be conducted on such terms and at such prices as we may determine, and will depend on prevailing market conditions, our liquidity requirements, legal ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
may require us to repay or redeem such indebtedness upon certain events constituting a change of control under the relevant agreement, in certain cases at a premium. Certain of our debt financing ag... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
accounts, or pay down such financing, in whole or in part, or the interest rate for the relevant financing will be increased. As of the most recent applicable measurement dates, we were in complianc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4 to AAG’s
75
Table of Contents
Consolidated Financial Statements in Part II, Item 8A and Note 3 to American’s Consolidated Financial Statements in Part II, Item 8B.
Sources and Uses of Cash
Fo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
we received cash proceeds of approximately $4.7 billion associated with the PSP Financial Assistance. Excluding the PSP Financial Assistance, our operating cash flows increased $6.2 billion compared... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
equity investments, principally related to GOL. Additionally, we incurred $360 million related to airport construction projects, net of reimbursements, principally in connection with the renovation ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
321neo aircraft. Additionally, we incurred $204 million related to airport construction projects, net of reimbursements, principally in connection with the renovation and expansion of Terminal 8 at J... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and finance lease obligations, consisting of $2.2 billion of scheduled debt repayments including the repayment of $401 million in connection with the maturity of our 5.000% unsecured notes, the $1.2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
issuance of debt, including approximately $10.0 billion associated with the AAdvantage Financing, $1.0 billion in aggregate principal amount under the PSP2 Promissory Note, $946 million in aggregate... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
billion in scheduled debt repayments. In addition, we had $209 million of deferred financing cost cash outflows.
76
Table of Contents
American
Operating Activities
American’s net cash provided ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$5.2 billion compared to 2021 primarily due to a return to profitability.
Investing Activities
American’s net cash provided by investing activities was $693 million in 2022 as compared to net cash... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
with the renovation and expansion of Terminal 8 at JFK and the modernization of Terminals 4 and 5 at LAX.
American’s principal investing activities in 2021 included $5.5 billion in net purchases of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
expansion of Terminal 8 at JFK and the modernization of Terminals 4 and 5 at LAX. These cash outflows were offset in part by $192 million of proceeds from the sale of property and equipment principa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
prepayment of the December 2016 Term Loan Facility. These cash outflows were offset in part by $1.1 billion of long-term debt proceeds, consisting of $866 million from the issuance of equipment note... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, $950 million for the April 2016 Spare Parts Term Loan Facility and $550 million of outstanding loans under the Treasury Loan Agreement and $2.9 billion in scheduled debt repayments. In addition, Am... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Commitments, Contingencies and Guarantees
Note 11
Note 10
Off-Balance Sheet Arrangements
An off-balance sheet arrangement is any transaction, agreement or other contractual arrangement involving ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
above that we believe may have a material current or future effect on financial condition, liquidity or results of operations.
Pass-Through Trusts
American currently has 352 owned aircraft and 60 ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the relevant aircraft. Similarly, in the case of the spare engine EETCs, the trusts allow American to use its existing pool of spare engines to raise financing under a single facility. The trusts ha... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the time of issuance thereof or held in escrow until financing of the applicable aircraft following its delivery) to purchase equipment notes relating to the financed aircraft or engines. The equipm... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of Credit and Other
We provide financial assurance, such as letters of credit and surety bonds, primarily to support airport commitments. As of December 31, 2022, we had $218 million of letters of ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
as set forth in the applicable accompanying footnotes.
Payments Due by Period
2023
2024
2025
2026
2027
2028 and Thereafter
Total
American (a)
Long-term debt:
Principal amount (b), (d) (Se... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
))
1,485
2,678
3,896
3,214
988
65
12,326
Operating lease commitments (See Note 4)
1,964
1,718
1,418
1,151
964
4,529
11,744
Regional capacity purchase agreements (f) (See Note 10(b))
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
350
766
Other purchase obligations (h) (See Note 10(a))
5,678
3,041
1,668
231
126
941
11,685
Total American Contractual Obligations
16,288
15,161
18,532
11,666
8,419
15,135
85,201
A... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
5)
22
14
11
29
89
Minimum pension obligations (g) (See Note 9)
18
Total AAG Contractual Obligations
16,441
15,308
20,189
11,832
8,614
19,493
91,877
(a)
For additional information, s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
variable-rate debt, future interest obligations are estimated using the current forward rates at December 31, 2022.
(d)
Includes $9.2 billion of future principal payments and $1.4 billion of futur... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
updates and revisions to such schedules communicated to management by the applicable equipment manufacturer. However, the actual delivery schedule may differ, potentially materially, based on variou... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
these capacity purchase agreements are reflected in the operating lease commitments line above.
(g)
Represents minimum pension contributions based on actuarially determined estimates as of Decembe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and equipment leasing arrangements and new flight equipment, we and our subsidiaries will regularly consider, and enter into negotiations related to, capital raising and liability management activit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for air travel, which would reduce the amount of cash generated by operations. See Part I, Item 1A. Risk Factors –
“Downturns in economic conditions could adversely affect our business.”
for addit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
AG’s Consolidated Financial Statements in Part II, Item 8A and Note 3 to American’s Consolidated Financial Statements in Part II, Item 8B for information regarding our financing arrangements.
In the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, for information regarding the basis of presentation.
Critical Accounting Policies and Estimates
The preparation of financial statements in accordance with GAAP requires management to make certain... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and American’s Consolidated Financial Statements in Part II, Item 8A and 8B, respectively, for additional discussion of the application of these estimates and other accounting policies.
Passenger R... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to expire unused is generally based on an analysis of our historical data. We have consistently applied this accounting method to estimate and recognize revenue from unused tickets at the date of tr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2 and thereafter are no longer subject to change fees which provides more flexibility for customers to change travel plans. Given this new flexibility offered to our customers, our estimate of revenu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. For mileage credits earned by AAdvantage loyalty program members, we apply the deferred revenue method.
Mileage credits earned through travel
For mileage credits earned through travel, we apply a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
mileage credits that will not be redeemed using a statistical model based on historical redemption patterns to develop an estimate of the likelihood of future redemption. For the year ended December... |
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