US Airways 2003 Annual Report Download - page 22
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Table of Contents
Part II
Item 5. Market for US Airways' Common Equity and Related Stockholder Matters
US Airways Group owns all of US Airways' outstanding common stock, par value $1 (US Airways Common Stock). US Airways' board of directors
has not authorized the payment of dividends on the common stock since 1988.
US Airways, organized under the laws of the State of Delaware, is subject to Sections 160 and 170 of the Delaware General Corporation Law with
respect to the payment of dividends on or the repurchase or redemption of its capital stock. US Airways is restricted from engaging in any of these activities
unless it maintains a capital surplus. In addition, under the provisions of certain debt agreements, including the ATSB Loan, US Airways' ability to pay
dividends is restricted. See "Liquidity and Capital Resources" below for more information, including information related to dividend restrictions associated
with the ATSB Loan.
Item 6. Selected Financial Data
Consolidated Statements of Operations (in millions) (1)
Successor
Company
Predecessor Company
Nine Months
Ended
December 31,
Three
Months
Ended
March 31,
Year Ended
December 31,
2003
2003
2002
2001
2000
1999
Operating Revenues $ 5,250 $ 1,512 $ 6,915 $ 8,253 $ 9,181 $ 8,460
Operating Expenses 5,292 1,714 8,236 9,874 9,225 8,321
Operating Income (Loss) $ (42) $ (202) $ (1,321) $ (1,621) $ (44) $ 139
Income (Loss) Before Cumulative Effect of Accounting Change $ (160) $ 1,613 $ (1,659) $ (1,996) $ (152) $ 273
Cumulative Effect of Accounting Change, Net of Applicable Income Taxes — — — 7 (103) —
Net Income (Loss) $ (160) $ 1,613 $ (1,659) $ (1,989) $ (255) $ 273
Consolidated Balance Sheets (in millions)
Successor
Company
Predecessor Company
December 31,
2003
December 31,
2002
2001
2000
1999
Total Assets $ 8,349 $ 6,464 $ 7,941 $ 8,986 $ 7,497
Long-Term Obligations (2) $ 4,591 $ 5,009 $ 5,147 $ 4,379 $ 3,514
Total Stockholders' Equity (Deficit) $ 89 $ (4,956) $ (2,630) $ (489) $ (186)
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