American Airlines 1998 Annual Report Download - page 39

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37
Year Ended December 31,
(in millions, except per share amounts) 1998 1997 1996
Revenues
Airline Group:
Passenger - American Airlines, Inc. $14,695 $14,310 $ 13,645
- AMR Eagle 1,121 1,017 1,047
Cargo 656 687 682
Other 977 889 837
17,449 16,903 16,211
The Sabre Group 2,306 1,789 1,625
Other revenues 119 95 102
Less: Intersegment revenues (669) (603) (574)
Total operating revenues 19,205 18,184 17,364
Expenses
Wages, salaries and benefits 6,507 6,056 5,706
Aircraft fuel 1,604 1,923 1,936
Depreciation and amortization 1,287 1,225 1,185
Commissions to agents 1,226 1,278 1,252
Maintenance, materials and repairs 937 863 687
Other rentals and landing fees 875 876 874
Food service 675 677 672
Aircraft rentals 569 574 616
Other operating expenses 3,187 2,805 2,629
Total operating expenses 16,867 16,277 15,557
Operating Income 2,338 1,907 1,807
Other Income (Expense)
Interest income 140 140 82
Interest expense (372) (420) (514)
Interest capitalized 104 20 10
Gain on sale of stock by subsidiary -- 497
Miscellaneous - net (46) (23) (286)
(174) (283) (211)
Income From Continuing Operations
Before Income Taxes and Extraordinary Loss 2,164 1,624 1,596
Income tax provision 858 651 513
Income From Continuing Operations Before Extraordinary Loss 1,306 973 1,083
Income From Discontinued Operations, Net of Applicable Income Taxes 8 12 22
Income Before Extraordinary Loss 1,314 985 1,105
Extraordinary Loss, Net of Tax Benefit - - (89)
Net Earnings $ 1,314 $985 $ 1,016
Earnings (Loss) Per Common Share:
Basic
Income from continuing operations before extraordinary loss $7.73 $5.45 $ 6.29
Discontinued operations 0.05 0.07 0.12
Extraordinary loss -- (0.51)
Net earnings $7.78 $5.52 $ 5.90
Diluted
Income from continuing operations before extraordinary loss $7.48 $5.32 $ 5.95
Discontinued operations 0.04 0.07 0.12
Extraordinary loss -- (0.48)
Net earnings $7.52 $5.39 $ 5.59
The accompanying notes are an integral part of these financial statements.
CONSOLIDATED STATEM ENTS OF OPERATIONS AMR CORPORATION