American Airlines 2004 Annual Report Download - page 97

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Exhibit 12
AMR CORPORATION
Computation of Ratio of Earnings to Fixed Charges
(in millions)
2004 2003 2002 2001 2000
Earnings:
Earnings (loss) from continuing
operations before income taxes and
cumulative effect of accounting
change $ (761) $ (1,308) $ (3,860) $ (2,756) $ 1,273
Add: Total fixed charges (per below) 1,755 1,643 1,745 1,618 1,313
Less: Interest capitalized 80 71 86 144 151
Total earnings (loss) $ 914 $ 264 $ (2,201) $ (1,282) $ 2,435
Fixed charges:
Interest $ 822 $ 665 $ 655 $ 515 $ 450
Portion on rental expense
representative of the interest factor 869 930 1,053 1,076 844
Amortization of debt expense 64 48 37 27 19
Total fixed charges $ 1,755 $ 1,643 $ 1,745 $ 1,618 $ 1,313
Ratio of earnings to fixed charges ----1.85
Coverage deficiency $ 841 $ 1,379 $ 3,946 $ 2,900 $ -