US Airways 2010 Annual Report Download - page 134
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Table of Contents
misconduct. In aircraft financing agreements structured as leveraged leases, US Airways typically indemnifies the lessor with respect to
adverse changes in U.S. tax laws.
US Airways is a guarantor of US Airways Group's Citicorp credit facility, 7% senior convertible notes and $30 million loan to finance
airport construction activities in Philadelphia.
9. Other Comprehensive Income (Loss)
US Airways' other comprehensive income (loss) consisted of the following (in millions):
Year Ended December 31,
2010 2009 2008
Net income (loss) $ 599 $ (140) $ (2,148)
Recognition of net realized gains on sale of available-for-sale securities (52) — —
Net unrealized gains (losses) on available-for-sale securities, net of tax expense of $21 million in 2009 (1) 35 —
Recognition of previous unrealized losses now deemed other-than-temporary — — 48
Other postretirement benefits (21) (19) 31
Total comprehensive income (loss) $ 525 $ (124) $ (2,069)
The components of accumulated other comprehensive income were as follows (in millions):
December 31, December 31,
2010 2009
Other postretirement benefits $ 38 $ 59
Available-for-sale securities (18) 35
Accumulated other comprehensive income $ 20 $ 94
10. Supplemental Cash Flow Information
Supplemental disclosure of cash flow information and non-cash investing and financing activities are as follows (in millions):
Year Ended December 31,
2010 2009 2008
Non-cash transactions:
Note payables issued for aircraft purchases $ 118 $ 333 $ —
Interest payable converted to debt 40 40 7
Net unrealized loss (gain) on available-for-sale securities 1 (58) —
Prepayment applied to equipment purchase deposits (38) — —
Deposit applied to principal repayment on debt (31) — —
Forgiveness of intercompany payable to US Airways Group — 600 —
Debt extinguished from sale of aircraft — (251) —
Maintenance payable converted to debt — 8 33
Cash transactions:
Interest paid, net of amounts capitalized 164 145 124
Income taxes paid 1 — —
133