American Airlines 2000 Annual Report Download - page 17

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15
CONSOLIDAT ED STAT EM ENT S OF CASH FLOWS
Year Ended December 31,
(in millions) 200 0 1999 1998
Cash Flow fr om Oper ating Activities:
Income from continuing operations after extraordinary loss $770 $ 656 $ 1,114
Adjustments to reconcile income from continuing operations after
extraordinary loss to net cash provided by operating activities:
Depreciation 928 864 830
Amortization 274 228 210
Deferred income taxes 461 183 268
Extraordinary loss on early extinguishment of debt 1 4 ––
Gain on sale of other investments, net (57) (95) –
Gain on disposition of equipment and property –(15) (19)
Change in assets and liabilities:
Decrease (increase) in receivables (1 69) 261 (185)
Increase in inventories (1 1 1 ) (140) (36)
Increase in accounts payable and accrued liabilities 579 42 343
Increase in air traffic liability 438 84 128
Other, net 1 5 196 144
Net cash provided by operating activities 3,1 42 2,264 2,797
Cash Flow fr om Investin g Activities:
Capital expenditures, including purchase deposits on flight equipment (3,678 ) (3,539) (2,342)
Net decrease (increase) in short-term investments (438) (253) 348
Acquisitions and other investments (50) (99) (137)
Proceeds from:
Dividend from Sabre Holdings Corporation 559 ––
Sale of equipment and property 238 79 262
Sale of other investments 94 85 –
Sale of discontinued operations –259 –
Other –18 –
Net cash used for investing activities (3,275 ) (3,450) (1,869)
Cash Flow fr om Finan cin g Activities:
Payments on long-term debt and capital lease obligations (766) (280) (547)
Proceeds from:
Issuance of long-term debt 836 1,956 246
Exercise of stock options 67 25 85
Short-term loan from Sabre Holdings Corporation –300 –
Sale-leaseback transactions –54 270
Repurchase of common stock –(871) (945)
Net cash provided by (used for) financing activities 1 37 1,184 (891)
Net increase (decrease) in cash 4(2) 37
Cash at beginning of year 85 87 50
Cash at end of year $89 $85 $87
Activities Not Affectin g Cash
Distribution of Sabre Holdings Corporation shares to AMR shareholders $581 $–$–
Payment of short-term loan from Sabre Holdings Corporation $–$ 300 $ –
Capital lease obligations incurred $–$54 $270
The accompanying notes are an integral part of these financial statements.