American Airlines 2001 Annual Report Download - page 40

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38
16. Quarterly Financial Data (Unaudited)
Unaudited summarized financial data by quarter for 2001 and 2000 (in millions, except per share amounts):
First
Quarter *
Second
Quarter
Third
Quarter
Fourth
Quarter
2001
Operating revenues $ 4,760 $ 5,583 $ 4,816 $ 3,804
Operating loss (4) (760) (558) (1,148)
Net loss (43) (507) (414) (798)
Loss per share:
Basic (0.28) (3.29) (2.68) (5.17)
Diluted (0.28) (3.29) (2.68) (5.17)
2000
Operating revenues $ 4,577 $ 5,011 $ 5,256 $ 4,859
Operating income 212 517 572 80
Income from continuing operations
before extraordinary loss 89 321 322 47
Net earnings 132 321 313 47
Earnings per share:
Basic
From continuing operations
before extraordinary loss 0.60 2.15 2.14 0.31
Net earnings 0.89 2.15 2.08 0.31
Diluted
From continuing operations
before extraordinary loss 0.57 1.96 1.96 0.29
Net earnings 0.86 1.96 1.91 0.29
* Certain amounts for the first quarter of 2001 related to the Company’s fuel hedging program have been reclassified to conform with
the 2001 presentation.
The following table summarizes the special charges – net of U.S. Government grant recorded by the Company during the
second, third and fourth quarters of 2001 (in millions):
Second
Quarter
Third
Quarter
Fourth
Quarter
Aircraft charges $ 685 $ 496 $ 56
Facility exit costs - 61 54
Employee charges - 55 16
Other - 20 23
Total special charges 685 632 149
Less: U.S. Government grant - (809) (47)
$ 685 $ (177) $ 102
See Note 2 for a further discussion of special charges – net of U.S. Government grant.
In addition to the above items, during the second quarter of 2001, the Company recorded a gain of $45 million from the
settlement of a legal matter related to the Company’s 1999 labor disruption.
During the second quarter of 2000, the Company recorded a gain of approximately $57 million from the sale of the
Company’s warrants to purchase 5.5 million shares of priceline common stock (see Note 4). During the third quarter of 2000, the
Company recorded a $14 million extraordinary loss on the repurchase prior to scheduled maturity of long-term debt (see Note 7).
Results for the fourth quarter of 2000 included a gain of approximately $41 million for the recovery of start-up expenses related to
the Canadian services agreement (see Note 4) and a charge of approximately $56 million for the Company’s employee home
computer program.