American Airlines 1997 Annual Report Download - page 52

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AMR CORPORATION
50
Year Ended December 31,
(in millions) 1997 1996 1995
Cash Flow from Operating Activities:
Net earnings $985 $1,016 $ 162
Adjustments to reconcile net earnings
to net cash provided by operating activities:
Depreciation 996 967 1,012
Deferred income taxes 362 218 50
Amortization 248 237 247
Gain on sale of stock by subsidiary -(497) -
Provisions for losses - 251 41
Extraordinary loss -136 45
Provision for restructuring costs -- 533
Change in assets and liabilities:
Decrease (increase) in receivables 12 (225) (109)
Increase in inventories (41) (66) (11)
Increase in accounts payable and accrued liabilities 117 261 441
Increase (decrease) in air traffic liability 155 423 (7)
Other, net 86 (5) (224)
Net cash provided by operating activities 2,920 2,716 2,180
Cash Flow from Investing Activities:
Capital expenditures (1,390) (547) (928)
Net increase in short-term investments (627) (924) (65)
Proceeds from sale of equipment and property 281 257 68
Net cash used for investing activities (1,736) (1,214) (925)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations (648) (2,130) (1,401)
Repurchase of common stock (740) - -
Proceeds from:
Exercise of stock options 200 25 21
Sale of stock by subsidiary -589 -
Issuance of long-term debt -- 184
Net cash used for financing activities (1,188) (1,516) (1,196)
Net increase (decrease) in cash (4) (14) 59
Cash at beginning of year 68 82 23
Cash at end of year $ 64 $68 $ 82
The accompanying notes are an integral part of these financial statements.
CONSOLI DATED STATEM ENT OF CASH FLOW S