2021 Form 10-K Financial Statement

#000000620122000026 Filed on February 22, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $29.88B $4.027B $17.34B
YoY Change 72.36% -64.4% -62.12%
Cost Of Revenue $12.82B $2.241B $9.739B
YoY Change 31.65% -48.55% -44.78%
Gross Profit $17.06B $1.787B $7.598B
YoY Change 124.55% -74.31% -72.99%
Gross Profit Margin 57.09% 44.38% 43.83%
Selling, General & Admin $12.92B $3.076B $13.22B
YoY Change -2.28% -24.64% -19.38%
% of Gross Profit 75.7% 172.13% 173.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.300B $561.0M $2.400B
YoY Change -4.17% -6.97% -7.69%
% of Gross Profit 13.48% 31.39% 31.59%
Operating Expenses $22.58B $4.302B $18.99B
YoY Change 18.91% -29.24% -22.27%
Operating Profit -$1.059B -$2.515B -$10.42B
YoY Change -89.84% -444.99% -440.0%
Interest Expense $1.800B -$371.0M $1.227B
YoY Change 46.7% 53.94% 12.05%
% of Operating Profit
Other Income/Expense, Net -$1.489B $77.00M -$1.032B
YoY Change 44.28% -7.23% 27.56%
Pretax Income -$2.548B -$2.809B -$11.45B
YoY Change -77.75% -591.94% -607.67%
Income Tax -$555.0M -$631.0M -$2.568B
% Of Pretax Income
Net Earnings -$1.993B -$2.178B -$8.885B
YoY Change -77.57% -626.09% -626.99%
Net Earnings / Revenue -6.67% -54.08% -51.25%
Basic Earnings Per Share -$3.09 -$18.36
Diluted Earnings Per Share -$3.09 -$3.808M -$18.36
COMMON SHARES
Basic Shares Outstanding 644.0M shares 508.6M shares 483.9M shares
Diluted Shares Outstanding 644.0M shares 483.9M shares

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.43B $7.018B $6.864B
YoY Change 81.1% 82.95% 79.4%
Cash & Equivalents $399.0M
Short-Term Investments $12.16B $6.619B $6.619B
Other Short-Term Assets $1.605B $1.275B $1.275B
YoY Change 25.88% 63.67% 63.67%
Inventory $1.795B $1.614B $1.614B
Prepaid Expenses
Receivables $1.505B $1.342B $1.342B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.34B $11.10B $11.10B
YoY Change 56.25% 35.21% 35.21%
LONG-TERM ASSETS
Property, Plant & Equipment $37.39B $39.74B $39.74B
YoY Change -5.92% 13.55% -9.13%
Goodwill $4.100B
YoY Change 0.0%
Intangibles $2.029B
YoY Change -2.64%
Long-Term Investments $239.0M $161.0M $161.0M
YoY Change 48.45% -21.08% -21.08%
Other Assets $5.426B $11.18B $4.894B
YoY Change 10.87% 38.7% 191.66%
Total Long-Term Assets $49.13B $50.91B $50.91B
YoY Change -3.5% -1.69% -1.69%
TOTAL ASSETS
Total Short-Term Assets $17.34B $11.10B $11.10B
Total Long-Term Assets $49.13B $50.91B $50.91B
Total Assets $66.47B $62.01B $62.01B
YoY Change 7.19% 3.36% 3.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.772B $1.196B $1.196B
YoY Change 48.16% -42.0% -42.0%
Accrued Expenses $5.762B $5.786B $5.786B
YoY Change -0.41% 7.41% 7.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.489B $2.697B $2.797B
YoY Change -11.01% -1.89% -2.24%
Total Short-Term Liabilities $19.01B $16.57B $16.57B
YoY Change 14.71% -9.51% -9.51%
LONG-TERM LIABILITIES
Long-Term Debt $35.57B $29.80B $29.80B
YoY Change 19.38% 38.88% 38.88%
Other Long-Term Liabilities $19.23B $1.502B $22.51B
YoY Change -14.57% 3.37% 10.63%
Total Long-Term Liabilities $54.80B $52.31B $52.31B
YoY Change 4.77% 25.13% 25.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.01B $16.57B $16.57B
Total Long-Term Liabilities $54.80B $52.31B $52.31B
Total Liabilities $73.81B $68.88B $68.88B
YoY Change 7.16% 14.58% 14.58%
SHAREHOLDERS EQUITY
Retained Earnings -$6.664B
YoY Change -394.35%
Common Stock $6.900B
YoY Change 74.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.340B -$6.867B -$6.867B
YoY Change
Total Liabilities & Shareholders Equity $66.47B $62.01B $62.01B
YoY Change 7.19% 3.36% 3.36%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$1.993B -$2.178B -$8.885B
YoY Change -77.57% -626.09% -626.99%
Depreciation, Depletion And Amortization $2.300B $561.0M $2.400B
YoY Change -4.17% -6.97% -7.69%
Cash From Operating Activities $704.0M -$2.863B -$6.543B
YoY Change -110.76% -577.17% -271.51%
INVESTING ACTIVITIES
Capital Expenditures -$208.0M -$148.0M -$1.958B
YoY Change -89.38% -87.01% -54.12%
Acquisitions
YoY Change
Other Investing Activities -$10.00M $1.844B -$20.00M
YoY Change -50.0% 3.71% 66.67%
Cash From Investing Activities -$5.983B $1.696B -$4.342B
YoY Change 37.79% 165.41% 93.58%
FINANCING ACTIVITIES
Cash Dividend Paid $43.00M
YoY Change -75.84%
Common Stock Issuance & Retirement, Net $18.00M $173.0M
YoY Change -89.6% -84.23%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $5.288B 1.269B $10.99B
YoY Change -51.9% -199.76% -801.15%
NET CHANGE
Cash From Operating Activities $704.0M -2.863B -$6.543B
Cash From Investing Activities -$5.983B 1.696B -$4.342B
Cash From Financing Activities $5.288B 1.269B $10.99B
Net Change In Cash $9.000M 102.0M $109.0M
YoY Change -91.74% -409.09% 2625.0%
FREE CASH FLOW
Cash From Operating Activities $704.0M -$2.863B -$6.543B
Capital Expenditures -$208.0M -$148.0M -$1.958B
Free Cash Flow $912.0M -$2.715B -$4.585B
YoY Change -119.89% -256.12% -156.72%

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CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2020Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2021Q4 us-gaap Contract With Customer Liability
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CY2021 aal Debt Refinancing Debt Extinguishment And Other Expense
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CY2020 aal Nonoperating Special Items Net
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170000000 USD
CY2019 aal Nonoperating Special Items Net
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CY2021 aal Payments For Restructuring Salary And Medical Costs
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520000000 USD
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483888000 shares
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2021 aal Operating Lease Liability Converted To Finance Lease Liability
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1800000000 USD
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CY2020 us-gaap Current State And Local Tax Expense Benefit
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CY2020 us-gaap Current Foreign Tax Expense Benefit
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CY2019 us-gaap Current Foreign Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2019 us-gaap Current Income Tax Expense Benefit
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560000000 USD
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474000000 USD
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
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31000000 USD
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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4000000 USD
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570000000 USD
CY2021Q4 aal Deferred Tax Assets Operating Loss Carryforwards And Other Carryforwards
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4612000000 USD
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4027000000 USD
CY2021Q4 us-gaap Deferred Tax Assets Frequent Flier Liability
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1405000000 USD
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DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
214000000 USD
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DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
203000000 USD
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92000000 USD
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
96000000 USD
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
24000000 USD
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
28000000 USD
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760000000 USD
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DeferredTaxAssetsValuationAllowance
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DeferredTaxLiabilitiesAcceleratedDepreciationAndAmortization
5028000000 USD
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DeferredTaxLiabilitiesLeasingArrangements
1767000000 USD
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1818000000 USD
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284000000 USD
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P13Y
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7232000000 USD
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3547000000 USD
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3230000000 USD
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3000000000 USD
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860000000 USD
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865000000 USD
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293000000 USD
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1004000000 USD
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339000000 USD
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517000000 USD
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1400000000 USD
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10 lane
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344 aircraft
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11 aircraft
CY2021Q4 aal Number Of Spare Aircraft Engines Owned Enhanced Equipment Trust Certificate
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60 engine
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439000000 USD
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4500000 shares
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300000 shares
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45000000 USD
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123400 employee
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CollectiveBargainingArrangementPercentageofEmployersParticipants
0.86
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LiabilitiesIncurredToAcquireEquitySecurities
88000000 USD
CY2020 aal Liabilities Incurred To Acquire Equity Securities
LiabilitiesIncurredToAcquireEquitySecurities
0 USD
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LiabilitiesIncurredToAcquireEquitySecurities
0 USD
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56000000 USD
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7000000 USD
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0 USD
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17000000 USD
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0 USD
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1632000000 USD
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944000000 USD
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1111000000 USD
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3000000 USD
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IncomeTaxesPaid
6000000 USD
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IncomeTaxesPaid
8000000 USD
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1 segment
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98000000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
91000000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
95000000 USD
CY2021 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
1000000 shares
CY2020 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
700000 shares
CY2019 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
800000 shares
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
18000000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
15000000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
25000000 USD
CY2021 aal Decrease In Flight Travel Comparedto Prior Year
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0.247
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0.145
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0.449
CY2021 aal Number Of Team Members Opting For Early Retirement Or Long Term Paid Leave
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1600 member
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15800000000 USD
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12400000000 USD
CY2021Q4 aal Line Of Credit Facility Covenant Terms Minimum Aggregate Liquidity Required
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2000000000 USD
CY2020Q4 us-gaap Goodwill
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4100000000 USD
CY2021Q4 us-gaap Goodwill
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4100000000 USD
CY2021Q4 aal Line Of Credit Facility Covenant Terms Minimum Aggregate Liquidity Required
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2000000000 USD
CY2021 dei Auditor Name
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KPMG LLP
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AuditorLocation
Dallas, TX
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AuditorFirmId
185
CY2021 dei Auditor Name
AuditorName
KPMG LLP
CY2021 dei Auditor Location
AuditorLocation
Dallas, TX
CY2021 dei Auditor Firm
AuditorFirmId
185

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