American Airlines 2007 Annual Report Download - page 54

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51
AMR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year Ended December 31,
2007 2006 2005
Cash Flow from Operating Activities:
Net income (loss) $ 504 $ 231 $ (857)
Adjustments to reconcile net income (loss) to net cash provided
(used) by operating activities:
Depreciation 1,036 1,022 1,033
Amortization 166 135 131
Equity based stock compensation 133 142 -
Provisions for asset impairments and restructuring charges 63 - 134
Gain on sale of investments (138) (13) -
Redemption payments under operating leases for special
facility revenue bonds
(100)
(28)
(104)
Change in assets and liabilities:
Decrease (increase) in receivables (41) 3 (156)
Decrease (increase) in inventories (128) (7) (59)
Increase (decrease) in accounts payable and accrued
liabilities
412
(130)
246
Increase in air traffic liability 203 168 432
Increase (decrease) in other liabilities and deferred credits (135) 382 197
Other, net (40) 34 27
Net cash provided by operating activities 1,935 1,939 1,024
Cash Flow from Investing Activities:
Capital expenditures, including purchase deposits on flight
equipment
(714)
(530)
(681)
Net decrease (increase) in short-term investments 207 (918) (867)
Net decrease (increase) in restricted cash and short-term
investments
40
42
(32)
Proceeds from sale of equipment and property and
investments
228
49
40
Other 5 (8) 1
Net cash used for investing activities (234) (1,365) (1,539)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations (2,321) (1,366) (1,131)
Proceeds from:
Issuance of common stock, net of issuance costs 497 400 223
Reimbursement from construction reserve account 59 145 -
Exercise of stock options 90 230 56
Securitization transactions - - 133
Issuance of long-term debt and special facility bond
transactions
-
-
1,252
Net cash provided by (used in) financing activities (1,675) (591) 533
Net increase (decrease) in cash 27 (17) 18
Cash at beginning of year 121 138 120
Cash at end of year $ 148 $ 121 $ 138
Activities Not Affecting Cash
Funding of construction and debt service reserve accounts $ - $ - $ 284
Capital lease obligations incurred $ - $ - $ 13
Flight equipment acquired through seller financing $ - $ - $ -
The accompanying notes are an integral part of these financial statements.