Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 1,972	$ 2,088
Short-term investments	1,465	1,217
Accounts receivable, net of an allowance for uncollectible accounts of $9 and $11 at December 31, 2015 and 2014, respectively	2,020	2,297
Hedge margin receivable	119	925
Fuel inventory	379	534
Expendable parts and supplies inventories, net of an allowance for obsolescence of $114 and $127 at December 31, 2015 and 2014, respectively	318	318
Hedge derivatives asset	1,987	1,078
Prepaid expenses and other	796	701
Total current assets	9,056	9,158
Property and Equipment, Net:
Property and equipment, net of accumulated depreciation and amortization of $10,871 and $9,340 at December 31, 2015 and 2014, respectively	23,039	21,929
Other Assets:
Goodwill	9,794	9,794
Identifiable intangibles, net of accumulated amortization of $811 and $793 at December 31, 2015 and 2014, respectively	4,861	4,603
Deferred income taxes, net	4,956	7,595
Other noncurrent assets	1,428	926
Total other assets	21,039	22,918
Total assets	53,134	54,005
Current Liabilities:
Current maturities of long-term debt and capital leases	1,563	1,184
Air traffic liability	4,503	4,296
Accounts payable	2,743	2,622
Accrued salaries and related benefits	3,195	2,266
Hedge derivatives liability	2,581	2,772
Frequent flyer deferred revenue	1,635	1,580
Other accrued liabilities	1,306	2,127
Total current liabilities	17,526	16,847
Noncurrent Liabilities:
Long-term debt and capital leases	6,766	8,477
Pension, postretirement and related benefits	13,855	15,138
Frequent flyer deferred revenue	2,246	2,602
Other noncurrent liabilities	1,891	2,128
Total noncurrent liabilities	$ 24,758	$ 28,345
Commitments and Contingencies
Stockholders' Equity:
Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 799,850,675 and 845,048,310 shares issued at December 31, 2015 and 2014, respectively	$ 0	$ 0
Additional paid-in capital	10,875	12,981
Retained earnings	7,623	3,456
Accumulated other comprehensive loss	(7,275)	(7,311)
Treasury stock, at cost, 21,066,684 and 19,790,077 shares at December 31, 2015 and 2014, respectively	(373)	(313)
Total stockholders' equity	10,850	8,813
Total liabilities and stockholders' equity	$ 53,134	$ 54,005
Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Passenger:
Mainline	$ 28,898	$ 28,688
Regional carriers	5,884	6,266
Total passenger revenue	34,782	34,954
Cargo	813	934
Other	5,109	4,474
Total operating revenue	40,704	40,362
Operating Expense:
Salaries and related costs	8,776	8,120
Aircraft fuel and related taxes	6,544	11,668
Regional carriers expense	4,241	5,237
Aircraft maintenance materials and outside repairs	1,848	1,828
Contracted services	1,848	1,749
Depreciation and amortization	1,835	1,771
Passenger commissions and other selling expenses	1,672	1,700
Landing fees and other rents	1,493	1,442
Profit sharing	1,490	1,085
Passenger service	872	810
Aircraft rent	250	233
Restructuring and other	35	716
Other	1,998	1,797
Total operating expense	32,902	38,156
Operating Income	7,802	2,206
Non-Operating Expense:			Note: There is no capitalized Interest in this example
Interest expense, net	(481)	(650)
Interest Portion of Lease, net	(164)	(484)
Total non-operating expense, net	(645)	(1,134)
Income Before Income Taxes	7,157	1,072
Income Tax (Provision) Benefit	(2,631)	(413)
Net Income	$ 4,526	$ 659
Times Interest Earned	15.88	2.65	1	1
Fixed Charge Coverage	12.10	1.95	1	1
Debt Ratio	0.80	0.84	1	1
Debt to Equity Ratio	3.90	5.13	1	1
Debt to Tangible Net Worth	-11.11	-8.09	1	1

Analyze the five ratios above.

Discuss each ratio in terms of what it is trying to measure. What direction is the company headed based on these results?

What results are ideal for the company?