American Airlines 2003 Annual Report Download - page 21

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19
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
(in millions, except per share amounts)
2003 12002 1,2 2001 1,3 2000 1999
Total operating revenues $ 17,440 $ 17,420 $ 18,969 $ 19,703 $ 17,730
Operating income (loss) (844) (3,330) (2,470) 1,381 1,156
Income (loss) from continuing
operations before cumulative
effect of accounting change (1,228) (2,523) (1,762) 770 656
Net earnings (loss) (1,228) (3,511) (1,762) 813 985
Earnings (loss) per share from
continuing operations before
cumulative effect of
accounting change:
Basic
Diluted
(7.76)
(7.76)
(16.22)
(16.22)
(11.43)
(11.43)
5.13
4.76
4.30
4.17
Net earnings (loss) per share:
Basic
Diluted
(7.76)
(7.76)
(22.57)
(22.57)
(11.43)
(11.43)
5.43
5.03
6.46
6.26
Total assets 29,330 30,267 32,841 26,213 24,374
Long-term debt, less current
maturities 11,901 10,888 8,310 4,151 4,078
Obligations under capital
leases, less current
obligations 1,225 1,422 1,524 1,323 1,611
Obligation for pension and
postretirement benefits 4,803 4,730 3,201 1,952 1,854
Stockholders’ equity 446 957 5,373 7,176 6,858
1 Includes special charges and U.S. government grant. For a further discussion of these items, see Note 2 to the consolidated financial
statements.
2 Includes a one-time, non-cash charge, effective January 1, 2002, of $988 million, net of tax, to write-off all of AMR’s goodwill. This
charge resulted from the adoption of Statement of Financial Accounting Standards Board No. 142, “Goodwill and Other Intangible
Assets” and is reflected as a cumulative effect of accounting change in the consolidated financial statements. For a further discussion
of this item, see Note 11 to the consolidated financial statements.
3 On April 9, 2001, American (through its wholly owned subsidiary TWA Airlines LLC) purchased substantially all of the assets and
assumed certain liabilities of Trans World Airlines, Inc. Accordingly, the 2001 financial information above includes the operating
results of TWA LLC since the date of acquisition.
4 As of December 31, 2002, the Company recorded an additional minimum pension liability adjustment resulting in an after tax charge to
stockholders’ equity of approximately $1.0 billion. The Company recorded a reduction to the additional minimum pension liability
resulting in a credit to stockholders equity of approximately $337 million for the year ended December 31, 2003. Effective after the
close of business on March 15, 2000, AMR distributed 0.722652 shares of Sabre Holdings Corporation (Sabre) Class A Common
Stock for each share of AMR stock owned by AMR’s shareholders, thus distributing its entire ownership interest in Sabre. The
dividend of AMR’s entire ownership in Sabre’s common stock resulted in a reduction to AMR’s retained earnings equal to the carrying
value of the Company’s investment in Sabre on March 15, 2000, which approximated $581 million.
No cash dividends were declared on AMR’s common shares during any of the periods above.
Information on the comparability of results is included in Item 7, Management's Discussion and Analysis and the
notes to the consolidated financial statements.