Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
Income Taxes [Line Items] |
|
Components of Income Tax Provision (Benefit) |
The significant components of the income tax provision (benefit) were (in millions): | | | | | | | | | | | | | | Year Ended December 31, | | 2017 | | 2016 | | 2015 | Current income tax provision: | | | | | | Federal | $ | — |
| | $ | — |
| | $ | — |
| State and Local | 24 |
| | 12 |
| | 20 |
| Current income tax provision | 24 |
| | 12 |
| | 20 |
| Deferred income tax provision (benefit): | | | | | | Federal | 1,085 |
| | 1,508 |
| | (2,884 | ) | State and Local | 56 |
| | 103 |
| | (130 | ) | Deferred income tax provision (benefit) | 1,141 |
| | 1,611 |
| | (3,014 | ) | Total income tax provision (benefit) | $ | 1,165 |
| | $ | 1,623 |
| | $ | (2,994 | ) |
|
Computation of Income Tax Provision (Benefit) |
The income tax provision (benefit) differed from amounts computed at the statutory federal income tax rate as follows (in millions): | | | | | | | | | | | | | | Year Ended December 31, | | 2017 | | 2016 | | 2015 | Statutory income tax provision | $ | 1,079 |
| | $ | 1,505 |
| | $ | 1,616 |
| State income tax provision, net of federal tax effect | 61 |
| | 63 |
| | 72 |
| Book expenses not deductible for tax purposes | 33 |
| | 34 |
| | 57 |
| Bankruptcy administration expenses | 1 |
| | 1 |
| | 3 |
| 2017 Tax Act | (7 | ) | | — |
| | — |
| Change in valuation allowance | (3 | ) | | 7 |
| | (4,742 | ) | Other, net | 1 |
| | 13 |
| | — |
| Income tax provision (benefit) | $ | 1,165 |
| | $ | 1,623 |
| | $ | (2,994 | ) |
|
Deferred Tax Assets and Liabilities |
The components of our deferred tax assets and liabilities were (in millions): | | | | | | | | | | December 31, | | 2017 | | 2016 | Deferred tax assets: | | | | Operating loss carryforwards | $ | 2,281 |
| | $ | 3,853 |
| Pensions | 1,559 |
| | 2,610 |
| Loyalty program liability | 420 |
| | 485 |
| Alternative minimum tax (AMT) credit carryforwards | 344 |
| | 344 |
| Postretirement benefits other than pensions | 170 |
| | 291 |
| Rent expense | 160 |
| | 256 |
| Gains from lease transactions | 107 |
| | 213 |
| Reorganization items | 35 |
| | 53 |
| Other | 678 |
| | 972 |
| Total deferred tax assets | 5,754 |
| | 9,077 |
| Valuation allowance | (36 | ) | | (29 | ) | Net deferred tax assets | 5,718 |
| | 9,048 |
| | | | | Deferred tax liabilities: | | | | Accelerated depreciation and amortization | (5,045 | ) | | (7,216 | ) | Other | (279 | ) | | (345 | ) | Total deferred tax liabilities | (5,324 | ) | | (7,561 | ) | Net deferred tax asset | $ | 394 |
| | $ | 1,487 |
|
|
American Airlines, Inc. [Member] |
|
Income Taxes [Line Items] |
|
Components of Income Tax Provision (Benefit) |
The significant components of the income tax provision (benefit) were (in millions): | | | | | | | | | | | | | | Year Ended December 31, | | 2017 | | 2016 | | 2015 | Current income tax provision: | | | | | | Federal | $ | — |
| | $ | — |
| | $ | — |
| State and Local | 24 |
| | 10 |
| | 15 |
| Current income tax provision | 24 |
| | 10 |
| | 15 |
| Deferred income tax provision (benefit): | | | | | | Federal | 1,235 |
| | 1,559 |
| | (3,407 | ) | State and Local | 63 |
| | 93 |
| | (60 | ) | Deferred income tax provision (benefit) | 1,298 |
| | 1,652 |
| | (3,467 | ) | Total income tax provision (benefit) | $ | 1,322 |
| | $ | 1,662 |
| | $ | (3,452 | ) |
|
Computation of Income Tax Provision (Benefit) |
The income tax provision (benefit) differed from amounts computed at the statutory federal income tax rate as follows (in millions): | | | | | | | | | | | | | | Year Ended December 31, | | 2017 | | 2016 | | 2015 | Statutory income tax provision | $ | 1,135 |
| | $ | 1,555 |
| | $ | 1,635 |
| State income tax provision, net of federal tax effect | 54 |
| | 67 |
| | 71 |
| Book expenses not deductible for tax purposes | 30 |
| | 32 |
| | 55 |
| Bankruptcy administration expenses | 1 |
| | 1 |
| | 3 |
| 2017 Tax Act | 93 |
| | — |
| | — |
| Change in valuation allowance | 4 |
| | (1 | ) | | (5,216 | ) | Other, net | 5 |
| | 8 |
| | — |
| Income tax provision (benefit) | $ | 1,322 |
| | $ | 1,662 |
| | $ | (3,452 | ) |
|
Deferred Tax Assets and Liabilities |
The components of American’s deferred tax assets and liabilities were (in millions): | | | | | | | | | | December 31, | | 2017 | | 2016 | Deferred tax assets: | | | | Operating loss carryforwards | $ | 2,409 |
| | $ | 4,087 |
| Pensions | 1,549 |
| | 2,595 |
| Loyalty program liability | 420 |
| | 485 |
| Alternative minimum tax (AMT) credit carryforwards | 457 |
| | 456 |
| Postretirement benefits other than pensions | 170 |
| | 291 |
| Rent expense | 160 |
| | 256 |
| Gains from lease transactions | 107 |
| | 213 |
| Reorganization items | 35 |
| | 53 |
| Other | 638 |
| | 911 |
| Total deferred tax assets | 5,945 |
| | 9,347 |
| Valuation allowance | (25 | ) | | (13 | ) | Net deferred tax assets | 5,920 |
| | 9,334 |
| | | | | Deferred tax liabilities: | | | | Accelerated depreciation and amortization | (4,999 | ) | | (7,101 | ) | Other | (274 | ) | | (335 | ) | Total deferred tax liabilities | (5,273 | ) | | (7,436 | ) | Net deferred tax asset | $ | 647 |
| | $ | 1,898 |
|
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