American Airlines 2002 Annual Report Download - page 54

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52
AMR CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Year Ended December 31,
2002 2001 2000
Cash Flow from Operating Activities:
Income (loss) from continuing operations after extraordinary loss
and cumulative effect of accounting change $ (3,511) $ (1,762) $ 770
Adjustments to reconcile income (loss) from continuing
operations after extraordinary loss and cumulative effect of
accounting change to net cash (used) provided by operating
activities:
Depreciation 1,210 1,122 928
Amortization 156 282 274
Provisions for asset impairments 463 1,214 -
Goodwill impairment 988 - -
Deferred income taxes (845) (731) 461
Additional tax refunds due to tax law change 371 - -
Extraordinary loss on early extinguishment of debt - - 14
Change in assets and liabilities:
Decrease (increase) in receivables (66) 120 (169)
Decrease (increase) in inventories 48 (39) (111)
Increase (decrease) in accounts payable and accrued
liabilities (32) 379 579
Increase (decrease) in air traffic liability (154) (276) 438
Increase (decrease) in other liabilities and deferred credits 188 165 (19)
Other, net 73 68 (23)
Net cash (used) provided by operating activities (1,111) 542 3,142
Cash Flow from Investing Activities:
Capital expenditures, including purchase deposits on flight
equipment (1,881) (3,640) (3,678)
Acquisition of Trans World Airlines, Inc. - (742) -
Net (increase) decrease in short-term investments 540 (242) (438)
Net increase in restricted cash and short-term investments (248) (535) -
Proceeds from:
Sale of equipment and property and other investments 220 401 332
Dividend from Sabre Holdings Corporation - - 559
Other (24) 18 (50)
Net cash used for investing activities (1,393) (4,740) (3,275)
Cash Flow from Financing Activities:
Payments on long-term debt and capital lease obligations (687) (922) (766)
Proceeds from:
Issuance of long-term debt 3,099 4,744 836
Sale-leaseback transactions 91 352 -
Exercise of stock options 3 37 67
Net cash provided by financing activities 2,506 4,211 137
Net increase in cash 2 13 4
Cash at beginning of year 102 89 85
Cash at end of year $ 104 $ 102 $ 89
Activities Not Affecting Cash
Distribution of Sabre Holdings Corporation shares to AMR
shareholders $ - $ - $ 581
The accompanying notes are an integral part of these financial statements.