American Airlines 2003 Annual Report Download - page 44

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42
REPORT OF INDEPENDENT AUDITORS
The Board of Directors and Stockholders
AMR Corporation
We have audited the accompanying consolidated balance sheets of AMR Corporation as of December 31, 2003
and 2002, and the related consolidated statements of operations, stockholders' equity, and cash flows for each of
the three years in the period ended December 31, 2003. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these financial statements based on our
audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated
financial position of AMR Corporation at December 31, 2003 and 2002, and the consolidated results of its
operations and its cash flows for each of the three years in the period ended December 31, 2003, in conformity
with accounting principles generally accepted in the United States.
As discussed in Note 11 to the consolidated financial statements, effective January 1, 2002 the Company changed
its method of accounting for its goodwill and other intangible assets as required by Statement of Financial
Accounting Standards No. 142, “Accounting for Goodwill and Other Intangible Assets.”
/s/ ERNST & YOUNG LLP
Dallas, Texas
February 16, 2004