American Airlines 2009 Annual Report Download - page 56

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53
AMR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year Ended December 31,
2009
2008
2007
Cash Flow from Operating Activities:
Net earnings (loss)
$ (1,468)
$ (2,118)
$ 456
Adjustments to reconcile net income (loss) to net cash provided
(used) by operating activities:
Depreciation
979
1,055
1,036
Amortization
125
152
166
Equity based stock compensation
61
53
133
Special charges
171
1,317
63
Pension and postretirement
657
279
27
Gain on sale of investments/subsidiaries
-
(432)
(138)
Redemption payments under operating leases for special
facility revenue bonds
-
(188)
(100)
Change in assets and liabilities:
Decrease (increase) in receivables
43
217
(41)
Decrease (increase) in inventories
(79)
5
(128)
Decrease (increase) in derivative collateral and unwound
derivative contracts
561
(940)
164
Increase (decrease) in accounts payable and accrued
liabilities
(75)
(421)
248
Increase (decrease) in air traffic liability
(277)
(277)
203
Increase (decrease) in other liabilities and deferred credits
220
(101)
(162)
Other, net
12
5
8
Net cash provided by (used in) operating activities
930
(1,394)
1,935
Cash Flow from Investing Activities:
Capital expenditures, including purchase deposits on flight
equipment
(1,521)
(876)
(714)
Net decrease (increase) in short-term investments
(1,330)
1,471
207
Net decrease (increase) in restricted cash and short-term
investments
(1)
(31)
40
Proceeds from sale of equipment, property and
investments/subsidiaries
76
480
228
Other
53
11
5
Net cash provided by (used in) investing activities
(2,723)
1,055
(234)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations
(2,416)
(1,092)
(2,321)
Proceeds from:
Issuance of common stock, net of issuance costs
412
294
497
Reimbursement from construction reserve account
-
-
59
Exercise of stock options
1
1
90
Issuance of long-term debt
2,990
825
-
Sale leaseback transactions
768
354
-
Net cash provided by (used in) financing activities
1,755
382
(1,675)
Net increase (decrease) in cash
(38)
43
27
Cash at beginning of year
191
148
121
Cash at end of year
$ 153
$ 191
$ 148
The accompanying notes are an integral part of these financial statements.