Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information [Line Items]

Unaudited summarized financial data by quarter for 2019 and 2018 (in millions, except share and per share amounts):



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2019
Operating revenues	$	10,584	$	11,960	$	11,911	$	11,313
Operating expenses	10,209		10,807		11,103		10,584
Operating income	375		1,153		808		729
Net income	185		662		425		414
Earnings per share:
Basic	$	0.41	$	1.49	$	0.96	$	0.95
Diluted	$	0.41	$	1.49	$	0.96	$	0.95
Shares used for computation (in thousands):
Basic	451,951		445,008		441,915		434,578
Diluted	453,429		445,587		442,401		435,659

2018
Operating revenues	$	10,401	$	11,643	$	11,559	$	10,938
Operating expenses	10,005		10,639		10,874		10,367
Operating income	396		1,004		685		571
Net income	159		556		372		325
Earnings per share:
Basic	$	0.34	$	1.20	$	0.81	$	0.71
Diluted	$	0.34	$	1.20	$	0.81	$	0.70
Shares used for computation (in thousands):
Basic	472,297		463,533		460,526		460,589
Diluted	474,598		464,618		461,507		461,915

Our fourth quarter 2019 results include $108 million of total pre-tax net special items that principally included $85 million of merger integration expenses and $39 million of fleet restructuring expenses, offset in part by $42 million of mark-to-market net unrealized gains associated with certain equity and other investments.

Our fourth quarter 2018 results include $195 million of total pre-tax net special items that principally included $94 million of fleet restructuring expenses, $81 million of merger integration expenses, $37 million of severance costs associated with reductions of management and support staff team members, $22 million of mark-to-market net unrealized losses associated with certain equity investments, offset in part by a $37 million net credit resulting from mark-to-market adjustments on bankruptcy obligations.

American Airlines, Inc. [Member]

Selected Quarterly Financial Information [Line Items]

Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2019 and 2018 (in millions):



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2019
Operating revenues	$	10,581	$	11,958	$	11,910	$	11,312
Operating expenses	10,236		10,831		11,082		10,565
Operating income	345		1,127		828		747
Net income	230		714		508		520

2018
Operating revenues	$	10,398	$	11,640	$	11,556	$	10,936
Operating expenses	9,986		10,626		10,850		10,344
Operating income	412		1,014		706		592
Net income	209		609		433		407

American’s fourth quarter 2019 results include $108 million of total pre-tax net special items that principally included $85 million of merger integration expenses and $39 million of fleet restructuring expenses, offset in part by $42 million of mark-to-market net unrealized gains associated with certain equity and other investments.

American’s fourth quarter 2018 results include $190 million of total pre-tax net special items that principally included $94 million of fleet restructuring expenses, $81 million of merger integration expenses, $37 million of severance costs associated with reductions of management and support staff team members, $22 million of mark-to-market net unrealized losses associated with certain equity investments, offset in part by a $37 million net credit resulting from mark-to-market adjustments on bankruptcy obligations.