American Airlines 2004 Annual Report Download - page 45

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42
Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
AMR Corporation
We have audited the accompanying consolidated balance sheets of AMR Corporation as of December 31, 2004
and 2003 and the related consolidated statements of operations, stockholders’ equity (deficit) and cash flows for
each of the three years in the period ended December 31, 2004. These consolidated 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 the standards of the Public Company Accounting Oversight Board
(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, 2004 and 2003 and the consolidated results of their
operations and their cash flows for each of the three years in the period ended December 31, 2004 in conformity
with U.S. generally accepted accounting principles.
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”.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), the effectiveness of AMR Corporation’s internal control over financial reporting as of December
31, 2004, based on criteria established in Internal Control—Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission and our report dated February 22, 2005 expressed an
unqualified opinion thereon.
/s/ Ernst & Young LLP
Dallas, Texas
February 22, 2005