Name: American Airlines Group Inc. (NASDAQ:AAL) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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American Airlines Group Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	578)	440)	273)	245)	280)
Short-term investments	7,000)	8,525)	12,158)	6,619)	3,546)
Restricted cash and short-term investments	910)	995)	990)	609)	158)
Accounts receivable, net	2,026)	2,138)	1,505)	1,342)	1,750)
Aircraft fuel, spare parts and supplies, net	2,400)	2,279)	1,795)	1,614)	1,851)
Prepaid expenses and other	658)	892)	615)	666)	621)
Current assets	13,572)	15,269)	17,336)	11,095)	8,206)
Property and equipment, net	30,764)	30,200)	29,537)	31,699)	34,995)
Operating lease right-of-use assets	7,939)	8,094)	7,850)	8,039)	8,737)
Goodwill	4,091)	4,091)	4,091)	4,091)	4,091)
Intangibles, net of accumulated amortization	2,051)	2,059)	1,988)	2,029)	2,084)
Deferred tax asset	2,888)	3,099)	3,556)	3,239)	645)
Other assets	1,753)	1,904)	2,109)	1,816)	1,237)
Other assets	10,783)	11,153)	11,744)	11,175)	8,057)
Noncurrent assets	49,486)	49,447)	49,131)	50,913)	51,789)
Total assets	63,058)	64,716)	66,467)	62,008)	59,995)

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).

Total assets exhibited a fluctuating trend over the five-year period, increasing from $59,995 million in 2019 to a peak of $66,467 million in 2021, before moderating to $63,058 million by the end of 2023. This movement was primarily driven by significant shifts in liquidity and the recognition of tax-related assets, contrasting with a general contraction in fixed asset values.

Liquidity and Current Asset Management: Current assets experienced substantial volatility, rising from $8,206 million in 2019 to $17,336 million in 2021, and subsequently declining to $13,572 million in 2023. This trend was predominantly fueled by short-term investments, which surged from $3,546 million in 2019 to a high of $12,158 million in 2021 before receding to $7,000 million. Conversely, cash balances demonstrated a steady and consistent upward trajectory, growing from $280 million in 2019 to $578 million in 2023.
Fixed Asset and Long-term Infrastructure: Net property and equipment showed a general downward trend, decreasing from $34,995 million in 2019 to a low of $29,537 million in 2021, with a slight recovery to $30,764 million by 2023. Operating lease right-of-use assets remained relatively stable, fluctuating within a narrow range between $7,850 million and $8,737 million. Noncurrent assets as a whole remained comparatively stable across the period, ending 2023 at $49,486 million.
Deferred Tax and Intangible Assets: A significant increase was observed in deferred tax assets, which rose from $645 million in 2019 to a peak of $3,556 million in 2021, before settling at $2,888 million in 2023. This suggests a substantial accumulation of tax loss carryforwards during the 2020-2021 period. In contrast, goodwill remained unchanged at $4,091 million for the entire duration, and intangible assets remained stable, fluctuating slightly around the $2 billion mark.

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