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.

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).

Cash and Cash Equivalents: Cash holdings show a consistent upward trend from 2019 through 2023, nearly doubling from 280 million USD in 2019 to 578 million USD in 2023. This indicates an improving liquidity position over the period analyzed.
Short-term Investments: Short-term investments increased sharply from 3546 million USD in 2019 to a peak of 12158 million USD in 2021, followed by a decline to 7000 million USD in 2023. This pattern suggests active portfolio management with a significant build-up of liquid investments by 2021 and a subsequent partial liquidation or reallocation.
Restricted Cash and Short-term Investments: Restricted cash and short-term investments increased steadily from 158 million USD in 2019 to close to 995 million USD in 2022, with a slight decrease to 910 million USD in 2023. This reflects a growing allocation of funds under restrictions, possibly related to regulatory or contractual requirements.
Accounts Receivable, Net: Accounts receivable declined in 2020 likely due to reduced business activity but rebounded strongly afterward, reaching 2138 million USD in 2022 before slightly decreasing in 2023. This suggests a recovery in sales or services rendered, with some stabilization in the most recent year.
Aircraft Fuel, Spare Parts, and Supplies, Net: There is an overall increase in inventory related to fuel and supplies, from 1851 million USD in 2019 to 2400 million USD in 2023. The upward trend points to inventory buildup, potentially in preparation for higher operational activity or to hedge against price volatility.
Prepaid Expenses and Other Current Assets: These assets show moderate fluctuations, with peaks in 2020 and 2022, but a noticeable drop in 2023. The variability may correspond to changes in upfront payments or operational adjustments during the period.
Current Assets: Current assets increased significantly from 8206 million USD in 2019 to a high of 17336 million USD in 2021, then decreased in the following two years to 13572 million USD in 2023. This reflects large buildup and subsequent reduction of short-term resources consistent with changes in cash and investments.
Property and Equipment, Net: Net property and equipment declined from 34995 million USD in 2019 to 29537 million USD in 2021, followed by a gradual recovery to 30764 million USD in 2023. The decline suggests disposals or depreciation exceeding new investments initially, with modest reinvestment or asset additions occurring later.
Operating Lease Right-of-Use Assets: These assets decreased from 8737 million USD in 2019 to 7850 million USD in 2021, with minor fluctuations afterward. The trend may indicate lease terminations, renegotiations, or accounting changes impacting lease asset recognition.
Goodwill: Goodwill remains constant at 4091 million USD throughout the period, indicating no impairment or additions recorded.
Intangibles, Net of Accumulated Amortization: Net intangible assets mildly declined from 2084 million USD in 2019 to approximately 2051 million USD in 2023, showing stability with minor amortization or impairments.
Deferred Tax Asset: Deferred tax assets increased sharply from 645 million USD in 2019 to a peak of 3556 million USD in 2021, followed by a gradual decline to 2888 million USD in 2023. This indicates changes in taxable temporary differences or expectations of future tax benefits.
Other Assets: Two categories labeled as other assets show growth from 1237 million USD to 2109 million USD and from 8057 million USD to 11744 million USD by 2021, then slight declines thereafter. This reflects variability in miscellaneous noncurrent or current asset accounts.
Noncurrent Assets and Total Assets: Noncurrent assets and total assets exhibit a moderate downward trend from 2019 through 2023. Noncurrent assets decreased from 51789 million USD to 49486 million USD, while total assets peaked at 66467 million USD in 2021 before declining to 63058 million USD in 2023. This overall reduction suggests asset disposals, depreciation, or strategic asset management impacting the balance sheet size.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

American Airlines Group Inc. (NASDAQ:AAL)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items