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A1 American Airlines Group Inc. Income Statements As of date Dec 31, 2020 - Dec 31, 2018 $s in millions 12 Months Ended Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 $ 17,337 $ 45,768 $ 44,541 2,581 10,960 4,892 1.583 1.536 1.341 513 2,040 1657) 2,969 27.758 (10,421) 7.526 12,609 7,501 2.380 2,055 1326 1,602 1.982 635 5.087 42.703 3,065 8,053 12 251 7,133 2,050 1.900 1,264 1,520 1.839 787 5.088 2,656 Operating revenues: Total operating revenues Operating expenses: Aircraft fuel and related taxes Salaries, wages and benefits Regional expenses Maintenance, materials and repairs Other rent and landing fees Aircraft rent Selling expenses Depreciation and amortization Special items, net Other Total operating expenses Operating income foss) Nonoperating income expense): Interest income Interest expense, net Other income, net Total nonoperating expense, net Income loss) before income taxes Income tax provision (benefit) Net Income foss) Earnings floss) per common share: Basic in dollars per share) Diluted in dollars per share) Weighted average shares outstanding: Basic in shares) Diluted in shares) Cash dividends dedared per common share in dollars per share) Passenger Operating revenues Total operating revenues 118 (1,056) 166 41 (1,227) 154 (1032 (11,453) 12.568) $18.885) 127 (1,095) 159 1809) 2,256 570 $1,686 1,884 472 $ 1,412 $(18.36) $(18.36) $ 3.80 $ 3.79 $3.04 $3.03 483,888 483,888 $ 0.10 443,363 444,269 $0.40 464,236 465,660 $0.40 $ 14.518 $ 42.010 Cargo 2050 2.995 2852 45.76 MA 7.526 12,600 7.518 2,380 2,055 2.581 10.955 4,676 1,583 1,536 1,341 513 2,040 16571 2,991 27559 (10,224) Operating revenues: Total operating revenues American Airlines, Inc Operating revenues: Total operating revenues Operating expenses: Aircraft fuel and related taxes Salaries, wages and benefits Regional expenses Maintenance, materials and repairs Other rent and landing fees Aircraft rent Selling expenses Depreciation and amortization Special items, net Other Total operating expenses Operating income foss) Nonoperating income (expense): Interest income Interest expense, net Other income, net Total nonoperating expense, net Income loss) before income taxes Income tax provision (benefit) Net Income foss) American Airlines, Inc. Passenger Operating revenues: Total operating revenues American Airlines, Inc. Cargo Operating revenues: Total operating revenues American Airlines, Inc. Other Operating revenues: Total operating revenues 8,053 12. 240 7,064 2.050 1.900 1264 1.520 1839 787 5,090 41 302 2,723 1.602 1.982 635 5,090 3,047 515 (1,109) 152 337 (1,171) 155 15791 (10,903) 12,453) 18.450) 330 (1.028) 167 (531) 2,192 534 1,658 2,605 633 1.972 14510 me 1012 2018 $2.941 American Airlines Group Inc. Consolidated Balance Sheets As of date Dec 31, 2020 - Dec 31, 2018 $s in millions Dec. 31, 2020 Dec 31, 2019 Dec. 31, 2018 $ 245 6,619 609 1,342 1,614 666 11,095 $ 280 3,546 158 1,750 1,851 621 8,206 $ 275 4,485 154 1,706 1,522 495 8,637 Current assets Cash Short-term investments Restricted cash and short-term investments Accounts receivable, net Aircraft fuel, spare parts and supplies, net Prepaid expenses and other Total current assets Operating property and equipment Flight equipment Ground property and equipment Equipment purchase deposits Total property and equipment, at cost Less accumulated depreciation and amortization Total property and equipment, net Operating lease right-of-use assets Other assets Goodwill Intangibles, net of accumulated amortization of $745 and $704, respectively Deferred tax asset Other assets Total other assets Total assets Current liabilities Current maturities of long-term debt and finance leases Accounts payable Accrued salaries and wages Operating lease liabilities 37,816 9,194 1.446 48456 (16,757) 31,699 8,039 42,537 9,443 1,674 53,654 (18,659) 34,995 8,737 41,499 8,764 1,278 51.541 (17,443) 34.098 9,151 4,091 4,091 2,029 3,239 1,816 11,175 62.008 2,084 645 1,237 8,057 59.995 4,091 2,137 1,145 1,321 8.694 60.580 2,797 1,196 1,716 1,651 2,861 2,062 1,541 1,708 3,294 1,773 1,427 1,654 2,419 16,569 2,138 18,311 2,342 18,096 29,796 7,069 7,162 6,777 1,502 52.306 21,454 6,052 5422 7,421 1,453 41,802 21,179 6,907 5,272 7,902 1,393 42,653 6 6,894 (7,103) (6,664) 6,867) 62.008 4 3,945 (6,331) 2,264 (118) 59.995 5 4,964 (5,896) 758 (169) 60.5.80 4,757 4,808 4,339 Other accrued liabilities Total current liabilities Noncurrent liabilities Long-term debt and finance leases, net of current maturities Pension and postretirement benefits Loyalty program liability Operating lease liabilities Other liabilities Total noncurrent liabilities Stockholders' equity (deficit) Common stock Additional paid-in capital Accumulated other comprehensive loss Retained earnings (deficit) Total stockholders' deficit Total liabilities and stockholders' equity (deficit) Air traffic liability Current liabilities Deferred revenue, current Loyalty program liability Current labilities Deferred revenue, current American Airlines, Inc. Current assets Cash Short-term investments Restricted cash and short-term investments Accounts receivable, net Receivables from related parties, net Aircraft fuel, spare parts and supplies, net Prepaid expenses and other Total current assets Operating property and equipment Flight equipment Ground property and equipment Equipment purchase deposits Total property and equipment, at cost Less accumulated depreciation and amortization Total property and equipment, net Operating lease right-of-use assets 2,033 3,193 3,267 231 6,617 609 1,334 7,877 1,520 633 18,821 267 3,543 158 1,770 12,451 1,754 584 20,527 265 4,482 154 1,755 10,666 1,442 493 19,257 37,485 8,836 1,446 47,767 (16,393) 31.374 7,994 42,213 9,089 1,674 52,976 (18,335) 34,641 8,694 41,180 8,466 1,277 50,923 (17,123) 33,800 9,094 4,091 2,029 3,235 1,671 4,091 2,084 689 1,164 8,028 71.890 4,091 2,137 1,280 1,219 8,727 70.878 11.026 69.215 2,800 1,116 1,661 1,641 2,300 16.308 2,358 1,990 1,461 1,695 2,055 17,560 2,547 1,707 1,363 1,639 2,259 17,121 Other assets Goodwill Intangibles, net of accumulated amortization of $745 and $704, respectively Deferred tax asset Other assets Total other assets Total assets Current liabilities Current maturities of long-term debt and finance leases Accounts payable Accrued salaries and wages Operating lease liabilities Other accrued liabilities Total current liabilities Noncurrent liabilities Long-term debt and finance leases, net of current maturities Pension and postretirement benefits Loyalty program liability Operating lease liabilities Other liabilities Total noncurrent liabilities Commitments and contingencies Stockholders' equity (deficit) Common stock Additional paid-in capital Accumulated other comprehensive loss Retained earnings (deficit) Total stockholders' deficit Total liabilities and stockholders' equity (deficit) American Airlines, Inc. Air traffic liability Current liabilities Deferred revenue, current American Airlines, Inc. Loyalty program liability Current liabilities Deferred revenue, current 26,182 7,027 7,162 6,739 1,449 48,559 20,684 6,008 5,422 7,388 1,406 40,908 20,650 6,863 5,272 7,857 1,345 41.987 0 17,050 (7,194) (5,508) 4,348 69.215 0 16,903 (6,423) 2,942 13,422 71.899 0 16,802 (5,992) 960 11.770 70.878 4,757 4,808 4,339 $ 2,033 $ 3,193 $ 3,267 American Airlines Group Inc. Income Statements As of date Dec 31, 2020 - Dec 31, 2018 $s in millions 12 Months Ended Dec 31, 2019 Dec 31, 2020 Dec 31, 2018 $18.885) $1,686 $1,412 2,370 195) 2.318 (112) 2.159 (59) 1.599 (319) 12.568) 91 47 376 (178) 560 94 (52) 458 (300) 440 86 197) 5:38 (38) 1626) 19) Cash flows from operating activities: Net Income los) Adjustments to reconcile net income to net cash provided by used in) operating activities: Depreciation and amortization Net gains from sale of property and equipment and sale leaseback transactions Special items, net non cash Pension and postretirement Deferred income tax provision benefit) Share based compensation Othernet Changes in operating assets and liabilities: Decrease in accounts receivable Increase in other assets Increase (decrease) in accounts payable and accrued liabilities Contributions to pension plans Increase (decrease) in other liabilities Net cash provided by used in) operating activities Cash flows from investing activities: Capital expenditures and aircraft purchase deposits Proceeds from sale leaseback transactions Proceeds from sale of property and equipment Purchases of short term investments Sales of short term investments Proceeds from vendor Decrease increase) in restricted short-term investments Proceeds from sale of investments Other investing activities Net cash used in investing activities Cash flows from financing activities: Proceeds from issuance of long-term debt Payments on long term debt and finance leases Proceeds from Issuance of equity Deferred financing costs Treasury stock repurchases and shares withheld for taxes pursuant to employee stock plans 73 (373) 327 (1.230) (209) 3.815 222 (390) (147) (475) 210 3,533 16,543) (1,958) (4.268) 850 54 3,184) (2,745) 1,096 111 13.412) 352 15.873) 2.803 2.705 0 250 (3) 90 (308) 41 (153) 14,342) (85) 12,243) 72 207 (7) (1.973) 3.960 11,780 (3.535) 2.970 193) (173) 0 151) (1,097) 2,354 (2.941) 0 (59) (837) (186) (3) (43) 88 10,994 109 290 399 (1,672) (178) (2) (1,568) 4 286 111 290 (112) 398 286 18.450) 1972 1658 2,313 1981 2.267 (109) 2,108 (57) 1.588 (319) 12.453) 91 (178) 623 94 (56) 458 (302) SO3 85 (102) 14 232 Dividend payments Other financing activities Net cash provided by used in financing activities Net increase (decrease) in cash and restricted cash Cash and restricted cash at beginning of year Cash and restricted cash at end of year American Airlines, Inc Cash flows from operating activities: Net Income foss) Adjustments to reconcile net income to net cash provided by used in) operating activities: Depreciation and amortization Net gains from sale of property and equipment and sale leaseback transactions Special items, net non cash Pension and postretirement Deferred income tax provision benedit) Share-based compensation Other, net Changes in operating assets and liabilities: Decrease in accounts receivable Increase in other assets Increase (decrease) in accounts payable and accrued liabilities Decrease increase) in receivables from related parties, net Contributions to pension plans Increase (decrease) in other liabilities Net cash provided by used in operating activities Cash flows from Investing activities: Capital expenditures and aircraft purchase deposits Proceeds from sale leaseback transactions Proceeds from sale of property and equipment Purchases of short-term investments Sales of short term investments Proceeds from vendor Decrease increase) in restricted short-term investments Proceeds from sale of investments Other investing activities Net cash used in investing activities Cash flows from financing activities: Proceeds from issuance of long-term debt Payments on long term debt and finance leases Deferred financing costs Net cash provided by used in financing activities Net Increase (decrease) in cash and restricted cash Cash and restricted cash at beginning of year Cash and restricted cash at end of year 595 42 (619) 4.134 (6) 1.210 130 (321) 273 (1,772) (1.224) (199) 2,429 (354) (171) (1.849) (472) 191 1,943 (1.4299 (1.922) (4,156) 850 49 (184) 13,677) 1,096 106 13.412) 2705 665 351 15.874) 2,803 90 (308) 41 (154) 14.308) 0 250 (3) 72 207 196) 12,146) (7) (1.910) 8,959 13.029) (85) 5,845 108 277 385 3.210 (3.440) (52) (282) 1 275 277 2,354 12.442) (59) (147) (114) 390 276 (51) 297 (51) 297 Air traffic liability Changes in operating assets and abilities: Increase (decrease) in customer liabilities Alir traffic liability American Airlines, Inc Changes in operating assets and liabilities: Increase (decrease) in customer liabilities Loyalty program liability Changes in operating assets and abilities: Increase (decrease) in customer liabilities Loyalty program liability American Airlines, Inc. Changes in operating assets and liabilities: Increase (decrease) in customer liabilities 580 76 (283) $ 580 $76 $ (283) American Airlines Group Historical Ratios For the years ended December 31, 2020,2019,2018 2020 2019 2018 0.48 0.67 0.20 0.45 0.16 0.17 Liquidity Current ratio Quick ratio Leverage Ratio Debt to Total Assets Ratio Debt to Equity Ratio Long-Term Debt to Equity Times Interest Earned Ratio Activity Ratios Inventory Turnover Fixed Assets Turnover Total Assets Turnover Accounts Receivable Turnover Average Collection Period Profitability Ratios Gross Profit Margin Operating Profit Margin Net Profit Margin Return on Total Assets (ROA) Return on Stockholders' Equity Earnings Per Share (EPS) Price Earnings Ratio