Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

American Airlines Group Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Current maturities of long-term debt and finance leases	3,632)	3,767)	3,874)	3,579)	3,274)	2,749)	2,106)	2,382)	2,489)	2,550)	2,798)	2,444)	2,797)	2,710)	2,575)	3,518)	2,861)	3,608)	3,500)	3,370)
Accounts payable	2,353)	2,123)	2,406)	2,455)	2,149)	2,117)	2,733)	2,546)	1,772)	1,835)	2,172)	1,624)	1,196)	1,077)	1,175)	1,648)	2,062)	1,932)	2,118)	2,139)
Accrued salaries and wages	2,377)	3,262)	1,723)	1,809)	1,713)	1,662)	1,505)	1,369)	1,489)	1,501)	1,580)	1,576)	1,716)	1,919)	1,518)	1,633)	1,541)	1,413)	1,304)	1,217)
Air traffic liability	6,200)	7,673)	8,530)	9,053)	6,745)	8,161)	8,969)	8,346)	6,087)	6,450)	7,095)	5,598)	4,757)	4,903)	5,119)	5,473)	4,808)	5,569)	5,956)	5,930)
Loyalty program liability	3,453)	3,491)	3,492)	3,486)	3,169)	3,006)	3,065)	3,110)	2,896)	2,791)	2,632)	2,323)	2,033)	2,051)	2,354)	3,094)	3,193)	3,197)	3,310)	3,354)
Current operating lease liabilities	1,309)	1,387)	1,431)	1,439)	1,465)	1,467)	1,483)	1,490)	1,507)	1,490)	1,587)	1,595)	1,651)	1,736)	1,804)	1,752)	1,708)	1,672)	1,639)	1,629)
Other accrued liabilities	2,738)	2,677)	2,860)	2,769)	2,981)	2,808)	2,909)	2,623)	2,766)	2,321)	3,657)	2,173)	2,419)	2,188)	3,455)	2,095)	2,138)	2,169)	2,296)	2,210)
Current liabilities	22,062)	24,380)	24,316)	24,590)	21,496)	21,970)	22,770)	21,866)	19,006)	18,938)	21,521)	17,333)	16,569)	16,584)	18,000)	19,213)	18,311)	19,560)	20,123)	19,849)
Long-term debt and finance leases, net of current maturities	29,270)	29,722)	30,772)	31,586)	32,389)	34,185)	34,963)	35,461)	35,571)	36,047)	37,201)	37,247)	29,796)	30,076)	28,698)	21,564)	21,454)	21,625)	21,791)	20,660)
Pension and postretirement benefits	3,044)	2,929)	2,694)	2,737)	2,837)	4,601)	4,755)	4,913)	5,053)	6,495)	6,627)	6,765)	7,069)	6,310)	6,019)	6,107)	6,052)	5,609)	5,641)	6,519)
Loyalty program liability	5,874)	5,834)	5,884)	5,881)	5,976)	6,141)	6,189)	6,194)	6,239)	6,404)	6,674)	7,055)	7,162)	7,043)	6,608)	5,757)	5,422)	5,325)	5,249)	5,214)
Noncurrent operating lease liabilities	6,452)	6,329)	6,506)	6,325)	6,559)	6,281)	6,313)	6,529)	6,610)	6,568)	6,711)	6,738)	6,777)	6,683)	6,972)	7,239)	7,421)	7,535)	7,818)	7,785)
Other liabilities	1,558)	1,653)	1,473)	1,438)	1,258)	1,367)	1,395)	1,378)	1,328)	1,422)	1,397)	1,456)	1,502)	1,605)	1,416)	1,336)	1,453)	1,361)	1,367)	1,396)
Noncurrent liabilities	46,198)	46,467)	47,329)	47,967)	49,019)	52,575)	53,615)	54,475)	54,801)	56,936)	58,610)	59,261)	52,306)	51,717)	49,713)	42,003)	41,802)	41,455)	41,866)	41,574)
Total liabilities	68,260)	70,847)	71,645)	72,557)	70,515)	74,545)	76,385)	76,341)	73,807)	75,874)	80,131)	76,594)	68,875)	68,301)	67,713)	61,216)	60,113)	61,015)	61,989)	61,423)
Common stock, $0.01 par value	7)	7)	7)	7)	6)	6)	6)	6)	6)	6)	6)	6)	6)	5)	5)	4)	4)	4)	5)	5)
Additional paid-in capital	7,374)	7,353)	7,321)	7,290)	7,291)	7,277)	7,259)	7,243)	7,234)	7,221)	7,200)	6,980)	6,894)	5,430)	5,377)	3,861)	3,945)	4,208)	4,386)	4,371)
Accumulated other comprehensive loss	(4,894)	(4,788)	(4,550)	(4,567)	(4,585)	(5,862)	(5,890)	(5,916)	(5,942)	(6,957)	(6,997)	(7,036)	(7,103)	(6,476)	(6,463)	(6,480)	(6,331)	(5,946)	(5,927)	(5,909)
Retained earnings (deficit)	(7,689)	(7,708)	(7,163)	(8,501)	(8,511)	(9,314)	(9,797)	(10,273)	(8,638)	(7,707)	(7,876)	(7,895)	(6,664)	(4,487)	(2,088)	(21)	2,264)	1,894)	1,514)	897)
Stockholders’ equity (deficit)	(5,202)	(5,136)	(4,385)	(5,771)	(5,799)	(7,893)	(8,422)	(8,940)	(7,340)	(7,437)	(7,667)	(7,945)	(6,867)	(5,528)	(3,169)	(2,636)	(118)	160)	(22)	(636)
Total liabilities and stockholders’ equity (deficit)	63,058)	65,711)	67,260)	66,786)	64,716)	66,652)	67,963)	67,401)	66,467)	68,437)	72,464)	68,649)	62,008)	62,773)	64,544)	58,580)	59,995)	61,175)	61,967)	60,787)

Current maturities of long-term debt and finance leases: Values exhibit fluctuations without a clear directional trend, ranging roughly between 2,000 million and 3,800 million USD over the periods. Notably, a peak occurred around late 2023, suggesting increased near-term debt obligations.
Accounts payable: There is a downward trend transitioning into 2020, followed by recovery and moderate volatility through 2023. Values ranged from approximately 1,000 million to 2,700 million USD with spikes during mid-2021 and early 2022, implying changes in short-term supplier obligations.
Accrued salaries and wages: This item generally increased through to late 2023, with a significant spike at the end of Q3 2023, rising to over 3,200 million USD, which is markedly higher compared to previous quarters. This may indicate temporary increases in employee-related liabilities or deferred payments.
Air traffic liability: Despite fluctuations, air traffic liability has generally increased over the examined period, peaking around Q1 2023. This indicates growing advanced ticket sales or customer prepayments, potentially reflecting operational recovery and increased passenger volumes.
Loyalty program liability (current and noncurrent combined): Both current and noncurrent components experienced variability with a general increase observable until 2021, followed by some weakening and stabilization in subsequent periods. This suggests adjustments in loyalty program obligations over time, possibly reflective of changes in customer engagement or program valuation.
Current operating lease liabilities: This liability remained relatively stable with a slight decreasing trend over time, moving from around 1,700 million USD to roughly 1,300 million USD, indicating reduced short-term lease commitments or renegotiations.
Other accrued liabilities: Other accrued liabilities demonstrated high volatility with occasional spikes, notably in mid-2020 and 2021. The values generally stayed between 2,000 and 3,600 million USD, reflecting fluctuating accrued expenses or unexpected obligations.
Current liabilities: Current liabilities declined sharply entering 2020, followed by recovery and growth into 2021, peaking at over 21,000 million USD before stabilizing around 22,000 million USD towards the end of the period. This reflects shifting short-term obligations possibly influenced by operational and financing activities through the COVID-19 period and recovery phase.
Long-term debt and finance leases, net of current maturities: A generally upward trajectory characterized this category until around 2021, peaking near 37,000 million USD, followed by a gradual decline afterward. This trend indicates an initial borrowing increase during the crisis and a subsequent debt reduction or repayments during recovery.
Pension and postretirement benefits: The amounts remained relatively stable with a gradual decline from about 6,500 million USD to near 3,000 million USD, suggesting reductions in these liabilities, possibly due to actuarial gains, benefit changes, or funding efforts.
Noncurrent operating lease liabilities: These liabilities have shown relative stability with minor fluctuations, maintaining levels between approximately 6,200 and 7,800 million USD, indicating consistent long-term lease commitments over time.
Other liabilities: This item remained mostly stable with values fluctuating modestly around 1,300 to 1,600 million USD, reflecting generally consistent noncurrent other obligations.
Noncurrent liabilities: Noncurrent liabilities increased substantially around 2020, peaking above 52,000 million USD and then gradually declined to just under 46,000 million USD towards the end of 2023. This reflects significant financing activity adjusting the long-term liability structure.
Total liabilities: Total liabilities grew noticeably during 2020-2021, reaching over 80,000 million USD, then progressively decreased to approximately 68,000 million USD. This pattern is consistent with elevated borrowing during crisis periods and a gradual deleveraging effort.
Common stock: Common stock par value remained relatively constant, with minor increments indicating limited issuance or stock-related changes.
Additional paid-in capital: A notable increase occurred from 2019 to 2020, rising from around 4,000 million USD to over 7,300 million USD, indicating capital injections or equity issuance during that timeframe. Subsequent periods showed stability.
Accumulated other comprehensive loss: This deficit remained consistently in negative territory, widening slightly in early periods before improving in 2022 and then deteriorating slightly again in late 2023. These fluctuations may be due to market impacts on pension plans or foreign currency adjustments.
Retained earnings (deficit): Retained earnings suffered a pronounced decline starting 2020, turning negative and worsening through 2023, reaching deficits around -7,000 to -10,000 million USD. This implies sustained losses or dividend distributions exceeding earnings over multiple periods.
Stockholders’ equity (deficit): Equity positions deteriorated from positive/near-zero levels through 2019 to significant deficits in 2020 and beyond, remaining negative around -5,000 million USD in recent quarters. This reflects accumulated losses and potential equity impairments.
Total liabilities and stockholders’ equity (deficit): The total financing and claims on assets fluctuated with a peak near 68,000 million USD in early 2023, followed by a decline to about 63,000 million USD by the last period, aligning with observed liability and equity movements.

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American Airlines Group Inc. (NASDAQ:AAL)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data