American Airlines 1999 Annual Report Download - page 39

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Year Ended December 31,
(in millions, except per share amounts) 1999 1998 1997
Revenues
Passenger – American Airlines, Inc. $14,707 $14,695 $14,310
– AM R Eagle 1,294 1,121 1,017
Cargo 643 656 687
Other revenues 1,086 1,044 943
Total operating revenues 17,730 17,516 16,957
Expenses
Wages, salaries and benefits 6,120 5,793 5,511
Aircraft fuel 1,696 1,604 1,923
Commissions to agents 1,162 1,226 1,278
Depreciation and amortization 1,092 1,040 1,040
Maintenance, materials and repairs 1,003 935 862
Other rentals and landing fees 942 839 842
Food service 740 675 677
Aircraft rentals 630 569 574
Other operating expenses 3,189 2,847 2,655
Total operating expenses 16,574 15,528 15,362
Operating Income 1,156 1,988 1,595
Other Income (Expense)
Interest income 89 114 110
Interest expense (393) (372) (421)
Interest capitalized 118 104 20
Miscellaneous – net 36 (1) 32
(150) (155) (259)
Income From Continuing Operations Before Income Taxes 1,006 1,833 1,336
Income tax provision 350 719 527
Income From Continuing Operations 656 1,114 809
Income From Discontinued Operations, Net of Applicable Income Taxes
and M inority Interest 265 200 176
Gain on Sale of Discontinued Operations, Net of Applicable Income Taxes 64 ––
Net Earnings $ 985 $1,314 $ 985
Earnings Per Common Share:
Basic
Income from continuing operations $4.30 $ 6.60 $ 4.54
Discontinued operations 2.16 1.18 0.98
Net earnings $ 6.46 $7.78 $ 5.52
Diluted
Income from continuing operations $4.17 $ 6.38 $ 4.43
Discontinued operations 2.09 1.14 0.96
Net earnings $6.26 $ 7.52 $ 5.39
The accompanying notes are an integral part of these financial statements.
38
CONSOLIDATED STATEMENTS OF OPERATIONS