American Airlines 2012 Annual Report Download - page 36

PART II
_____________________________________________________________________________________________________
ITEM 5. MARKET FOR REGISTRANT’S COMMON STOCK AND RELATED STOCKHOLDER MATTERS
American Airlines, Inc. is a wholly-owned subsidiary of AMR Corporation and there is no market for the Registrant’s Common Stock
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
(in millions, except per share amounts)
2012 1,4
2011 1
2010 1
2009 1,4
2008 1
Total operating revenues
$24,825
$23,957
$22,150
$19,898
$23,696
Operating income (loss)
41
(1,170)
151
(1,163)
(2,054)
Reorganization items, net2
(2,179)
(116)
—
—
—
Net income (loss)
(1,926)
(1,965)
(469)
(1,474)
(2,531)
Total assets
23,264
23,589
22,422
22,964
22,518
Long-term debt, less current maturities
6,762
6,729
6,095
7,385
6,102
Obligations under capital leases, less current
obligations
381
—
497
599
582
Obligation for pension and postretirement benefits 3
6,780
9,204
7,876
7,397
6,613
Liabilities subject to compromise
5,694
3,952
—
—
—
Stockholders’ equity (deficit) 5
(9,962)
(9,037)
(6,336)
(5,878)
(4,905)
1Includes special charges and other items, as follows: In 2012, special charges consisted of $386 million of severance related charges and write off of
lease hold improvements on aircraft and at airport facilities that were rejected during the Chapter 11 process. The Company's 2012 results also
includes a $280 million benefit from a settlement of a commercial dispute. In 2011, special charges and other items consisted of $799 million,
including $725 million related to the impairment of certain aircraft and gates, $31 million of non-recurring non-cash charges related to certain
sale/leaseback transactions, and a $43 million revenue reduction as a result of a decrease in the breakage assumption related to the AAdvantage
frequent flier liability. 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, 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 3
to the consolidated financial statements).
2Reorganization items refer to revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or
incurred as a direct result of the Chapter 11 Cases. See Note 1 to the consolidated financial statements for further information on reorganization
items.
3The Company's defined benefit pension plans were frozen effective November 1, 2012 and the Pilot B Plan, a defined contribution plan, was
terminated on November 30, 2012. Further, the Company significantly modified its retiree medical plans in 2012 resulting in the recognition of a
negative plan amendment. See Note 11 to the consolidated financial statements for further information on retirement benefits, including the financial
impact of these plan changes.
4Includes the impact of a $569 million and $248 million tax benefit related to the allocation of tax expense to other comprehensive income items
recognized in 2012 and 2009, respectively.
5As 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. As a result of actuarial changes
36