American Airlines 2006 Annual Report Download - page 56

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52
AMR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year Ended December 31,
2006 2005 2004
Cash Flow from Operating Activities:
Net income (loss) $ 231 $ (857) $ (751)
Adjustments to reconcile net income (loss) to net cash provided
(used) by operating activities:
Depreciation 1,022 1,033 1,139
Amortization 135 131 153
Equity based stock compensation 142 - -
Provisions for asset impairments and restructuring charges - 134 21
Gain on sale of investments (13) - (146)
Redemption payments under operating leases for special
facility revenue bonds
(28)
(104)
-
Change in assets and liabilities:
Decrease (increase) in receivables 3 (156) (89)
Decrease (increase) in inventories (7) (59) 8
Increase (decrease) in accounts payable and accrued
liabilities
(130)
246
(36)
Increase in air traffic liability 168 432 377
Increase in other liabilities and deferred credits 382 197 31
Other, net 34 27 10
Net cash provided by operating activities 1,939 1,024 717
Cash Flow from Investing Activities:
Capital expenditures, including purchase deposits on flight
equipment
(530)
(681)
(1,027)
Net increase in short-term investments (918) (867) (323)
Net decrease (increase) in restricted cash and short-term
investments
42
(32)
49
Proceeds from sale of equipment and property and
investments
49
40
265
Other (8) 1 (12)
Net cash used for investing activities (1,365) (1,539) (1,048)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations (1,366) (1,131) (1,653)
Proceeds from:
Issuance of common stock, net of issuance costs 400 223 -
Reimbursement from construction reserve account 145 - -
Exercise of stock options 230 56 7
Securitization transactions - 133 -
Issuance of long-term debt and special facility bond
transactions
-
1,252
1,977
Net cash provided by (used in) financing activities (591) 533 331
Net increase (decrease) in cash (17) 18 -
Cash at beginning of year 138 120 120
Cash at end of year $ 121 $ 138 $ 120
Activities Not Affecting Cash
Funding of construction and debt service reserve accounts $ - $ 284 $ -
Capital lease obligations incurred $ - $ 13 $ 13
Flight equipment acquired through seller financing $ - $ - $ 18
The accompanying notes are an integral part of these financial statements.