American Airlines 2010 Annual Report Download - page 30

Download and view the complete annual report

Please find page 30 of the 2010 American Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

27
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
(in millions, except per share amounts)
2010 2
2009 2,6
2008 2,5
2007
4
2006 1
Total operating revenues
$ 22,170
$ 19,917
$ 23,766
$ 22,935
$ 22,563
Operating income (loss)
308
(1,004)
(1,889)
965
1,060
Net income (loss)
(471)
(1,468)
(2,118)
456
189
Net income (loss) per share:
Basic
(1.41)
(4.99)
(8.16)
1.86
0.92
Diluted
(1.41)
(4.99)
(8.16)
1.71
0.82
Total assets
25,088
25,438
25,175
28,571
29,145
Long-term debt, less current
maturities
8,756
9,984
8,423
9,387
11,122
Obligations under capital
leases, less current
obligations
497
599
582
680
824
Obligation for pension and
postretirement benefits
7,877
7,397
6,614
3,620
5,341
Stockholders’ equity (deficit) 3
(3,945)
(3,489)
(2,935)
2,704
(511)
1 Includes the impact of adopting guidance related to planned major maintenance activities.
2 Includes restructuring charges and special items. In 2010, special items consisted of $81 million and include the impairment of certain
route authorities in Latin America and losses on Venezuelan currency remeasurement. In 2009, these restructuring charges of $171
million primarily consisted of the grounding of the Airbus A300 fleet and the impairment of Embraer RJ-135 aircraft. Special items in
2009 consisted of $184 million and include the impairment of certain route and slot authorities, primarily in Latin America, and losses
on certain sale leaseback transactions. In 2008, restructuring charges consisted of $1.2 billion primarily related to aircraft and
employee charges due to announced capacity reductions (for further discussion of these items, see Note 2 to the consolidated financial
statements).
3 Effective December 31, 2006, the Company adopted guidance issued on accounting for defined benefit plans and other postretirement
plans. This adoption decreased Stockholders’ equity by $1.0 billion and increased the obligation for pension and other postretirement
benefits by $880 million. As a result of actuarial changes, including the discount rate and the impact of legislation changing pilot
retirement age to 65, the Company recorded a $1.7 billion reduction in pension and retiree medical and other benefits and a
corresponding increase in stockholders’ equity in 2007. As a result of a significant decline in 2008 in the market value of the
Company’s benefit plan assets, the Company recorded a $3.0 billion increase in pension and retiree medical and other benefits and a
similar decrease in stockholders’ equity in 2008. In 2008, the Company incurred $103 million in expense due to a pension settlement.
4 Includes the impact of the $138 million gain on the sale of ARINC .
5 Includes the impact of the $432 million gain on the sale of American Beacon Advisors.
6 Includes the impact of a $248 million tax benefit related to the allocation of tax expense to other comprehensive income items
recognized in 2009.
No cash dividends were declared on AMR’s common shares during any of the periods above.
Information on the comparability of results is included in Item 7, “Management's Discussion and Analysis” and the
notes to the consolidated financial statements.