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ACG 6026 Group Assignment-Liabilities

use the Annual Report for their assigned company and answer the questions in the blue cells in the excel template attached below. The blue link on the attached file is the Annual report necessary. 


Group #
For AMERICAN AIRLINES GROUP do the following:
Obtain the fiscal 2019 annual report at:
Amounts reported below should be IN MILLIONS $$
Provide the following for the December 31, 2019 from the Financial Statements (Item 8 of the Annual Report) in the blue box provided. Answers may be found on face of the financial statements or on footnotes.
How much was Revenues? (from Statement of Operations) $$ million
Passenger revenue
What % of Sales was from International? Other
Total $ – 0
How much was Operating Income? (from Statement of Operations)
What is the percentage of Operating Income to Revenues ERROR:#DIV/0!
Detail the Liability balance (from Balance Sheet)
Categories December 31, 2019 December 31, 2018
Accounts payable
Accrued salaries and wages
Air traffic liability
Other accrued liabilities
Operating lease liabilities (add current and noncurrent portion)
Loyalty program liability (add current and noncurrent portion)
Pension and postretirement benefits
Long-term debt and finance leases (add current and noncurrent portion)
Other liabilities
Total Liabilities 60,113 60,749
Total of current and noncurrent liabilities
How does AA record revenue from "Mileage credits earned through travel"? (Note 1 –> Loyalty Revenue)
Calculate Debt Ratio
Formula Amounts Answer
E.g. A – B = C 100 – 70 30.0
Calculate Times-Interest-Eearned Ratio
Formula Amounts Answer
E.g. A – B = C 100 – 70 30.0
Calculate Return on Debt (see formula below)
Formula Amounts Answer
Net Income
average Long-Term Debt *
* Use simple average (beg + end / 2)
"Long-Term Debt" includes Long-Term Debt & Finance Leases plus Operating Lease Liabilities above
III. NON-GAAP FINANCIAL MEASURES (Pgs 45-47, Reconciliation of GAAP to Non-GAAP Financial Measures)
List the items included in the "Operating special items, net" line for 2019 Year-ended Dec 31, 2019
Total 641
Reconciliation of Pre-Tax Income (Loss) Excluding Net Special Items: Year-ended Dec 31, 2019
Pre-tax income (loss) – GAAP
Adjusted for: Pre-tax special items, net
Pre-tax income (loss) excluding net special items 2,900
Refer to the following article about non-GAAP financial measures:,principles%20(%E2%80%9CGAAP%E2%80%9D).
Under "Update to Question 100.01", in what way has the staff clarified the treatment of an operating expense that occurs repeatedly or occasionally? Do you think this would apply to any of the special items noted above?






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