Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Quarterly Financial Data

16.         Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2011 and 2010 (in millions, except per share amounts):

	First     Quarter			Second     Quarter			Third     Quarter			Fourth     Quarter
2011
Operating revenues	$	5,533		$	6,114		$	6,376		$	5,956
Operating income (loss)		(232	)		(78	)		39			(783	)
Net earnings (loss)		(436	)		(286	)		(162	)		(1,095	)
Earnings (loss) per share:
Basic		(1.31	)		(0.85	)		(0.48	)		(3.27	)
Diluted		(1.31	)		(0.85	)		(0.48	)		(3.27	)
2010
Operating revenues	$	5,068		$	5,674		$	5,842		$	5,586
Operating income (loss)		(298	)		196			342			68
Net earnings (loss)		(505	)		(11	)		143			(97	)
Earnings (loss) per share:
Basic		(1.52	)		(0.03	)		0.43			(0.29	)
Diluted		(1.52	)		(0.03	)		0.39			(0.29	)

The first quarter 2010 results include a loss of $53 million related to a currency remeasurement due to the devaluation of Venezuelan currency from 2.15 bolivars per U.S. dollar to 4.30 bolivars per U.S. dollar.

The Company's fourth quarter 2010 performance includes an impairment charge of approximately $28 million to write down certain route and slot authorities in Latin America.

The first quarter 2011 results include a loss of $31 million in non-recurring non-cash charges related to certain sale/leaseback transactions.

The Company's fourth quarter 2011 performance reflects restructuring charges and special items consisting of $768 million, including $725 million related to the impairment of certain aircraft and gates and a $43 million revenue reduction as a result of a decrease in the breakage assumption related to the AAdvantage frequent flier liability.