American Airlines 2003 Annual Report Download - page 94

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92
Exhibit 12
AMR CORPORATION
Computation of Ratio of Earnings to Fixed Charges
(in millions)
1999 2000 2001 2002 2003
Earnings:
Earnings (loss) from continuing
operations before income taxes
and cumulative effect of
accounting change
$ 1,006 $ 1,273 $ (2,756) $ (3,860) $ (1,308)
Add: Total fixed charges
(per below) 1,227 1,313 1,618 1,745 1,643
Less: Interest capitalized 118 151 144 86 71
Total earnings (loss) $ 2,115 $ 2,435 $ (1,282) $ (2,201) $ 264
Fixed charges:
Interest $ 383 $ 450 $ 515 $ 655 $ 665
Portion of rental expense
representative of the interest
factor 832 844 1,076 1,053 930
Amortization of debt expense 12 19 27 37 48
Total fixed charges $ 1,227 $ 1,313 $ 1,618 $ 1,745 $ 1,643
Ratio of earnings to fixed charges 1.72 1.85 - - -
Coverage deficiency - - $ 2,900 $ 3,946 $ 1,379