Stock Analysis on Net

American Airlines Group Inc. (NASDAQ:AAL)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 21, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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American Airlines Group Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current maturities of long-term debt and finance leases
Accounts payable
Accrued salaries and wages
Air traffic liability
Loyalty program liability
Current operating lease liabilities
Other accrued liabilities
Current liabilities
Long-term debt and finance leases, net of current maturities
Pension and postretirement benefits
Loyalty program liability
Noncurrent operating lease liabilities
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock, $0.01 par value
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings (deficit)
Stockholders’ deficit
Total liabilities and stockholders’ deficit

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


Current maturities of long-term debt and finance leases
This liability declined from 4.77% in 2019 to 3.74% in 2021, followed by a rise to 5.76% by 2023, indicating increased short-term debt obligations in recent years.
Accounts payable
Accounts payable fell significantly in 2020 to 1.93% from 3.44% in 2019, then gradually increased to 3.73% by 2023, suggesting a recovery and return to typical supplier credit levels.
Accrued salaries and wages
This item showed relative stability around 2.5-3% of total liabilities, with a notable increase to 3.77% in 2023, potentially reflecting increased payroll liabilities or timing differences.
Air traffic liability
The air traffic liability remained a substantial part of liabilities, declining slightly in 2020 but rising steadily to 10.42% in 2022, then decreasing slightly to 9.83% in 2023, reflecting passenger revenue deferrals and adjustments over the period.
Loyalty program liability (current)
Current loyalty program liability dropped from 5.32% in 2019 to 3.28% in 2020, then increased to 5.48% in 2023, indicating fluctuations in customer rewards obligations in response to business activity.
Current operating lease liabilities
There was a consistent decline from 2.85% in 2019 to 2.08% in 2023, suggesting a reduction in short-term lease liabilities, potentially linked to changes in leasing strategies or asset usage.
Other accrued liabilities
This category increased from 3.56% in 2019 to a peak of 4.61% in 2022, then slightly decreased to 4.34% in 2023, indicating rising miscellaneous current liabilities over time.
Current liabilities
Current liabilities as a whole showed a U-shaped trend, decreasing from 30.52% in 2019 to 26.72% in 2020, then rising steadily to 34.99% in 2023, which may indicate increasing short-term obligations in the recent period.
Long-term debt and finance leases, net of current maturities
Long-term debt rose sharply from 35.76% in 2019 to a peak of 53.52% in 2021, before declining to 46.42% in 2023, reflecting debt restructuring and repayment activities following the pandemic period.
Pension and postretirement benefits
This liability increased to 11.4% in 2020, then decreased markedly to around 4.8% by 2023, suggesting funding improvements or remeasurements impacting these obligations.
Loyalty program liability (noncurrent)
The noncurrent loyalty program liability increased from 9.04% in 2019 to 11.55% in 2020, followed by a gradual decrease to 9.32% in 2023, paralleling trends in the current portion and reflecting ongoing management of these long-term obligations.
Noncurrent operating lease liabilities
These liabilities declined from 12.37% in 2019 to 9.94% in 2021, then stabilized around 10.2% through 2023, indicating a reduction and stabilization of long-term lease obligations.
Other liabilities
Maintaining relative stability near 2.4%, other liabilities showed a slight dip and subsequent rebound, indicating steady minor liabilities over time.
Noncurrent liabilities
Noncurrent liabilities increased markedly from 69.68% in 2019 to 84.35% in 2020, then declined to 73.26% in 2023, reflecting shifts in long-term financing and benefit obligations post-pandemic.
Total liabilities
Total liabilities exceeded 100% in all years, peaking at 111.07% in 2020 and 111.04% in 2021, then declining modestly to 108.25% in 2023, demonstrating persistent high leverage relative to equity components throughout the period.
Common stock
This account remained negligible at 0.01%, indicating minimal impact on the overall financial structure from par value stock changes.
Additional paid-in capital
Additional paid-in capital approximately doubled from 6.58% in 2019 to around 11.7% in 2023, reflecting equity injections or retained share premiums enhancing the equity base.
Accumulated other comprehensive loss
This item remained negative throughout, ranging between -10.55% and -7.08%, showing some improvement yet still indicating accumulated losses impacting equity.
Retained earnings (deficit)
Retained earnings moved into a significant deficit starting in 2020, falling to around -13% in 2021 and 2022, with a slight improvement to -12.19% in 2023, demonstrating ongoing earnings challenges and accumulated losses during the period.
Stockholders’ deficit
The overall stockholders’ deficit worsened sharply to about -11% in 2020 and 2021, improving somewhat to -8.25% by 2023, indicating reduced but still negative equity attributable to shareholders.
Total liabilities and stockholders’ deficit
By definition, this remained constant at 100% each year, confirming the balance between liabilities and equity components despite shifts in their relative proportions.