XML 54 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements Of Operations (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Operating revenues        
Mainline passenger $ 8,213 $ 4,888 $ 15,471 $ 9,502
Regional passenger 1,707 752 3,114 1,431
Cargo 221 169 428 325
Other 1,214 640 2,338 1,289
Total operating revenues 11,355 6,449 21,351 12,547
Operating expenses        
Aircraft fuel and related taxes 2,830 1,880 5,541 3,814
Salaries, wages and benefits 2,163 1,284 4,282 2,551
Regional expenses 1,657 769 3,251 1,549
Maintenance, materials and repairs 514 317 999 643
Other rent and landing fees 441 284 866 572
Aircraft rent 312 181 631 346
Selling expenses 402 273 804 563
Depreciation and amortization 319 207 626 411
Special items, net 251 12 [1] 114 83
Other 1,067 730 2,108 1,432
Total operating expenses 9,956 5,937 19,222 11,964
Operating income 1,399 512 2,129 583
Nonoperating income (expense)        
Interest income 8 5 15 9
Interest expense, net of capitalized interest (214) (161) (457) (415)
Other, net 11 (12) 9 (37)
Total nonoperating expense, net (195) (168) (433) (443)
Income before reorganization items, net 1,204 344 1,696 140
Reorganization items, net 0 [2] (124) [2] 0 [2] (284) [2]
Income (loss) before income taxes 1,204 220 1,696 (144)
Income tax provision (benefit) 340 0 353 (22)
Net income (loss) 864 220 1,343 (122)
Earnings (loss) per share:        
Basic (usd per share) $ 1.20 $ 0.88 $ 1.86 $ (0.49)
Diluted (usd per share) $ 1.17 $ 0.79 $ 1.82 $ (0.49)
Weighted average shares outstanding (in thousands):        
Basic (in shares) 720,600 249,588 722,286 249,540
Diluted (in shares) 734,767 288,511 738,051 249,540
AA [Member]
       
Operating revenues        
Mainline passenger 5,352 4,888 10,258 9,502
Regional passenger 786 752 1,455 1,431
Cargo 178 169 346 325
Other 837 628 1,563 1,264
Total operating revenues 7,153 6,437 13,622 12,522
Operating expenses        
Aircraft fuel and related taxes 1,897 1,880 3,768 3,814
Salaries, wages and benefits 1,441 1,282 2,839 2,546
Regional expenses 804 761 1,562 1,528
Maintenance, materials and repairs 346 317 678 643
Other rent and landing fees 289 284 574 572
Aircraft rent 214 181 430 346
Selling expenses 282 273 566 563
Depreciation and amortization 220 207 434 411
Special items, net 179 [3] 12 [3] (37) [3] 83 [3]
Other 763 739 1,512 1,449
Total operating expenses 6,435 5,936 12,326 11,955
Operating income 718 501 1,296 567
Nonoperating income (expense)        
Interest income 6 5 13 9
Interest expense, net of capitalized interest (139) (147) (307) (315)
Other, net 16 (7) 11 (33)
Total nonoperating expense, net (117) (149) (283) (339)
Income before reorganization items, net 601 352 1,013 228
Reorganization items, net 0 [4] (124) [4] 0 [4] (283) [4]
Income (loss) before income taxes 601 228 1,013 (55)
Income tax provision (benefit) 336 0 347 (30)
Net income (loss) $ 265 $ 228 $ 666 $ (25)
[1] The 2014 second quarter mainline operating special items totaled a net charge of $251 million, which principally included $163 million of merger integration expenses related to information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as a net $38 million charge for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations and $37 million in charges relating to the buyout of leases associated with certain aircraft. The 2014 six month period mainline operating special items totaled a net charge of $114 million, which principally included $365 million of merger integration expenses, $40 million in charges primarily relating to the buyout of leases associated with certain aircraft and a net $5 million charge for bankruptcy related items as described above. These charges were offset in part by a $309 million gain on the sale of slots at DCA.
[2] In the 2013 second quarter and six month period, the Company recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees.
[3] The 2014 second quarter mainline operating special items totaled a net charge of $179 million, which principally included $99 million of merger integration expenses related to information technology, professional fees, severance, re-branding of aircraft and airport facilities, relocation and training as well as a net $40 million charge for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations and $26 million in charges relating to the buyout of leases associated with certain aircraft. The 2014 six month period mainline operating special items totaled a net credit of $37 million, which principally included a $305 million gain on the sale of slots at DCA and a net $16 million credit for bankruptcy related items primarily reflecting fair value adjustments for bankruptcy settlement obligations. These special credits were offset in part by $234 million of merger integration expenses as described above as well as $29 million in charges primarily relating to the buyout of leases associated with certain aircraft.
[4] In the 2013 second quarter and six month period, American recognized reorganization expenses as a result of the filing of the Chapter 11 Cases. These amounts consisted primarily of estimated allowed claim amounts and professional fees.