Name: American Airlines Group Inc. (NASDAQ:AAL) | Liabilities and Stockholders’ Equity (Quarterly)
Creator: Stock Analysis on Net

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.

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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)

The financial trajectory from March 2019 through December 2023 is characterized by a significant expansion of the balance sheet's liability side to offset severe operational disruptions, leading to a sustained state of negative stockholders' equity. Total liabilities peaked in June 2021 at 80,131 million USD before trending downward to 68,260 million USD by the end of 2023.

Current Liabilities and Operational Obligations: Current liabilities exhibited substantial volatility, reflecting the cyclical nature of air travel demand. Air traffic liability, a primary driver of current obligations, fluctuated from a low of 4,757 million USD in December 2020 to a peak of 9,053 million USD in March 2023, indicating significant swings in prepaid flight revenues. Accounts payable and other accrued liabilities also showed marked increases during the 2022-2023 recovery period, with total current liabilities rising from 16,569 million USD in December 2020 to a high of 24,590 million USD in March 2023.
Long-Term Debt and Noncurrent Obligations: A critical shift in the capital structure occurred between 2020 and 2021, as long-term debt and finance leases surged from 21,454 million USD in December 2019 to a peak of 37,247 million USD in March 2021. This represents a strategic increase in leverage to maintain liquidity. Since that peak, a gradual deleveraging process has been observed, with long-term debt decreasing to 29,270 million USD by December 2023. Simultaneously, pension and postretirement benefit obligations saw a consistent long-term decline, falling from 6,519 million USD in March 2019 to 3,044 million USD in December 2023.
Stockholders' Equity and Solvency: The company transitioned from a marginal equity position to a deep deficit during the analyzed period. Retained earnings shifted from a positive 2,264 million USD in December 2019 to a peak deficit of 10,273 million USD in March 2022. While there was a partial recovery in retained earnings to a deficit of 7,689 million USD by December 2023, the overall stockholders' equity remained negative throughout most of the period, reaching a maximum deficit of 8,940 million USD in March 2022. The deficit concluded at 5,202 million USD in December 2023.
Capital Contributions and Comprehensive Loss: To mitigate the erosion of equity, there was a notable increase in additional paid-in capital, which rose from 4,371 million USD in March 2019 to 7,374 million USD in December 2023, suggesting the issuance of new equity to fund operations. Accumulated other comprehensive losses also expanded, peaking at 7,103 million USD in December 2020 before improving to 4,894 million USD by the end of 2023.

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American Airlines Group Inc. (NASDAQ:AAL)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data