American Airlines 2001 Annual Report Download - page 41

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39
REPORT OF INDEPENDENT AUDITORS
THE BOARD OF DIRECTORS AND STOCKHOLDERS
AMR CORPORATION
We have audited the accompanying consolidated balance sheets of AMR Corporation as of December 31, 2001 and 2000,
and the related consolidated statements of operations, stockholders’ equity, and cash flows for each of the three years in the period
ended December 31, 2001. These financial statements are the responsibility of the Company’s management. Our responsibility is
to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant estimates made by manage-
ment, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial
position of AMR Corporation at December 31, 2001 and 2000, and the consolidated results of its operations and its cash flows
for each of the three years in the period ended December 31, 2001, in conformity with accounting principles generally accepted
in the United States.
As discussed in Note 8 to the consolidated financial statements, effective January 1, 2001 the Company changed its
method of accounting for its derivative and hedging activities as required by Statement of Financial Accounting Standards
No. 133, “Accounting for Derivative Instruments and Hedging Activities”, as amended.
2121 San Jacinto
Dallas, Texas 75201
January 15, 2002