American Airlines 2005 Annual Report Download - page 53

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50
AMR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year Ended December 31,
2005 2004 2003
Cash Flow from Operating Activities:
Net Loss $ (861) $ (761) $ (1,228)
Adjustments to reconcile net loss to net cash provided (used) by
operating activities:
Depreciation 1,033 1,139 1,222
Amortization 131 153 155
Provisions for asset impairments and restructuring charges 134 21 190
Gain on sale of investments - (146) (154)
Redemption payments under operating leases for special
facility revenue bonds
(104)
-
(521)
Change in assets and liabilities:
Decrease (increase) in receivables (156) (89) 690
Decrease (increase) in inventories (59) 8 56
Increase (decrease) in accounts payable and accrued
liabilities
250
(26)
(198)
Increase in air traffic liability 432 377 184
Increase in other liabilities and deferred credits 197 31 245
Other, net 27 10 (40)
Net cash provided by operating activities 1,024 717 601
Cash Flow from Investing Activities:
Capital expenditures, including purchase deposits on flight
equipment
(681)
(1,027)
(680)
Net increase in short-term investments (867) (323) (640)
Net decrease (increase) in restricted cash and short-term
investments
(32)
49
256
Proceeds from sale of equipment and property and
investments
40
265
395
Other 1 (12) 24
Net cash used for investing activities (1,539) (1,048) (645)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations (1,131) (1,653) (886)
Proceeds from:
Issuance of long-term debt and special facility bond
transactions
1,252
1,977
945
Issuance of common stock, net of issuance costs 223 - -
Securitization transactions 133 - -
Exercise of stock options 56 7 1
Net cash provided by financing activities 533 331 60
Net increase in cash 18 - 16
Cash at beginning of year 120 120 104
Cash at end of year $ 138 $ 120 $ 120
Activities Not Affecting Cash
Funding of construction and debt service reserve accounts $ 284 $ - $ -
Capital lease obligations incurred $ 13 $ 13 $ 140
Flight equipment acquired through seller financing $ - $ 18 $ 735
Reduction to capital lease and other obligations $ - $ - $ (190)
The accompanying notes are an integral part of these financial statements.