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Table of Contents
AMERICAN AIRLINES, INC.
DEBTORS AND DEBTORS IN POSSESSION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Year Ended December 31,
2012
2011
2010
Cash Flow from Operating Activities:
Net earnings (loss)
$(1,926)
$(1,965)
$ (469)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating
activities:
Depreciation
901
819
814
Amortization
98
131
121
Equity based stock compensation
26
35
49
Special charges, non-cash
214
725
—
Reorganization items, non-cash
2,037
118
—
Pension and postretirement
287
180
236
OCI tax benefits
(569)
—
—
Change in assets and liabilities:
Decrease (increase) in receivables
(222)
(164)
24
Decrease (increase) in other current assets
(134)
(129)
(104)
Decrease (increase) in inventories
16
(80)
(67)
Decrease (increase) in derivative collateral and unwound derivative contracts
(1)
(73)
87
Increase (decrease) in accounts payable and accrued liabilities
349
201
(91)
Increase (decrease) in air traffic liability
301
567
225
Increase (decrease) in other liabilities and deferred credits
3
654
159
Other, net
(232)
(322)
66
Net cash provided by (used in) operating activities
1,148
697
1,050
Cash Flow from Investing Activities:
Capital expenditures, including purchase deposits on flight equipment
(1,870)
(1,432)
(1,608)
Net decrease (increase) in short-term investments
306
608
(70)
Net decrease (increase) in restricted cash and short-term investments
(112)
(288)
—
Proceeds from sale of equipment, property and investments/subsidiaries
124
(4)
(14)
Net cash provided by (used in) investing activities
(1,552)
(1,116)
(1,692)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations
(1,288)
(2,240)
(918)
Proceeds from:
Reimbursement from construction reserve account
—
—
6
Issuance of long-term debt
268
2,382
215
Sale leaseback transactions
1,509
703
1,408
Funds transferred from affiliates, net
109
(311)
(53)
Net cash provided by (used in) financing activities
598
534
658
Net increase (decrease) in cash
194
115
16
Cash at beginning of year
280
165
149
Cash at end of year
$474
$280
$165
The accompanying notes are an integral part of these financial statements.
66