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Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Lessee, Lease, Description [Line Items] |
Leases | Leases We lease certain aircraft and engines, including aircraft under capacity purchase agreements. As of December 31, 2023, we operated 737 leased aircraft, including seven aircraft in temporary storage and 237 aircraft leased under capacity purchase agreements, with remaining terms ranging from less than one year to 10 years. At each airport where we conduct flight operations, we have agreements, generally with a governmental unit or authority, for the use of passenger, operations and baggage handling space as well as runways and taxiways. These agreements, particularly in the U.S., often contain provisions for periodic adjustments to rates and charges applicable under such agreements. These rates and charges also vary with our level of operations and the operations of the airport. Because of the variable nature of these rates, these leases are not recorded on our consolidated balance sheets as a ROU asset or a lease liability. Additionally, at our hub locations and in certain other cities we serve, we lease administrative offices, catering, cargo, training, maintenance and other facilities. The components of lease expense were as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 2,016 |  |  | $ | 2,007 |  |  | $ | 2,012 |
Finance lease cost: |  |  |  |  |
Amortization of assets | 128 |  |  | 143 |  |  | 107 |
Interest on lease liabilities | 45 |  |  | 47 |  |  | 44 |
Variable lease cost | 2,720 |  |  | 2,580 |  |  | 2,471 |
Total net lease cost | $ | 4,909 |  |  | $ | 4,777 |  |  | $ | 4,634 |
Included in the table above is $274 million, $242 million and $190 million of operating lease cost under our capacity purchase agreement with Republic for the years ended December 31, 2023, 2022 and 2021, respectively. We hold a 25% equity interest in Republic Holdings, the parent company of Republic. Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
| December 31,
| 2023 |  | 2022
Operating leases: |  |  |
Operating lease ROU assets | $ | 7,939 |  |  | $ | 8,094 |
Current operating lease liabilities | $ | 1,309 |  |  | $ | 1,465 |
Noncurrent operating lease liabilities | 6,452 |  |  | 6,559 |
Total operating lease liabilities | $ | 7,761 |  |  | $ | 8,024 |
Finance leases: |  |  |
Property and equipment, at cost | $ | 1,380 |  |  | $ | 1,364 |
Accumulated amortization | (891) |  |  | (779) |
Property and equipment, net | $ | 489 |  |  | $ | 585 |
Current finance lease liabilities | $ | 131 |  |  | $ | 216 |
Noncurrent finance lease liabilities | 375 |  |  | 545 |
Total finance lease liabilities | $ | 506 |  |  | $ | 761 |
Weighted average remaining lease term (in years): |  |  |
Operating leases | 8.4 |  | 8.3
Finance leases | 5.8 |  | 5.1
Weighted average discount rate: |  |  |
Operating leases | 7.6 | % |  | 7.4 | %
Finance leases | 7.2 | % |  | 7.2 | %
Supplemental cash flow and other information related to leases was as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 2,033 |  |  | $ | 1,990 |  |  | $ | 2,053 |
Operating cash flows from finance leases | 48 |  |  | 47 |  |  | 37 |
Financing cash flows from finance leases | 265 |  |  | 190 |  |  | 126 |
Gain on sale leaseback transactions, net | 12 |  |  | 2 |  |  | 25 |
Maturities of lease liabilities were as follows (in millions):
| December 31, 2023
| Operating Leases |  | Finance Leases
2024 | $ | 1,809 |  |  | $ | 166 |
2025 | 1,510 |  |  | 140 |
2026 | 1,289 |  |  | 114 |
2027 | 1,120 |  |  | 71 |
2028 | 988 |  |  | 30 |
2029 and thereafter | 3,708 |  |  | 89 |
Total lease payments | 10,424 |  |  | 610 |
Less: Imputed interest | (2,663) |  |  | (104) |
Total lease obligations | 7,761 |  |  | 506 |
Less: Current obligations | (1,309) |  |  | (131) |
Long-term lease obligations | $ | 6,452 |  |  | $ | 375 |
As of December 31, 2023, we had additional operating lease commitments that have not yet commenced of approximately $669 million for five Boeing 787 Family aircraft scheduled to be delivered in 2024 with lease terms of 10 years.
Leases | Leases We lease certain aircraft and engines, including aircraft under capacity purchase agreements. As of December 31, 2023, we operated 737 leased aircraft, including seven aircraft in temporary storage and 237 aircraft leased under capacity purchase agreements, with remaining terms ranging from less than one year to 10 years. At each airport where we conduct flight operations, we have agreements, generally with a governmental unit or authority, for the use of passenger, operations and baggage handling space as well as runways and taxiways. These agreements, particularly in the U.S., often contain provisions for periodic adjustments to rates and charges applicable under such agreements. These rates and charges also vary with our level of operations and the operations of the airport. Because of the variable nature of these rates, these leases are not recorded on our consolidated balance sheets as a ROU asset or a lease liability. Additionally, at our hub locations and in certain other cities we serve, we lease administrative offices, catering, cargo, training, maintenance and other facilities. The components of lease expense were as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 2,016 |  |  | $ | 2,007 |  |  | $ | 2,012 |
Finance lease cost: |  |  |  |  |
Amortization of assets | 128 |  |  | 143 |  |  | 107 |
Interest on lease liabilities | 45 |  |  | 47 |  |  | 44 |
Variable lease cost | 2,720 |  |  | 2,580 |  |  | 2,471 |
Total net lease cost | $ | 4,909 |  |  | $ | 4,777 |  |  | $ | 4,634 |
Included in the table above is $274 million, $242 million and $190 million of operating lease cost under our capacity purchase agreement with Republic for the years ended December 31, 2023, 2022 and 2021, respectively. We hold a 25% equity interest in Republic Holdings, the parent company of Republic. Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
| December 31,
| 2023 |  | 2022
Operating leases: |  |  |
Operating lease ROU assets | $ | 7,939 |  |  | $ | 8,094 |
Current operating lease liabilities | $ | 1,309 |  |  | $ | 1,465 |
Noncurrent operating lease liabilities | 6,452 |  |  | 6,559 |
Total operating lease liabilities | $ | 7,761 |  |  | $ | 8,024 |
Finance leases: |  |  |
Property and equipment, at cost | $ | 1,380 |  |  | $ | 1,364 |
Accumulated amortization | (891) |  |  | (779) |
Property and equipment, net | $ | 489 |  |  | $ | 585 |
Current finance lease liabilities | $ | 131 |  |  | $ | 216 |
Noncurrent finance lease liabilities | 375 |  |  | 545 |
Total finance lease liabilities | $ | 506 |  |  | $ | 761 |
Weighted average remaining lease term (in years): |  |  |
Operating leases | 8.4 |  | 8.3
Finance leases | 5.8 |  | 5.1
Weighted average discount rate: |  |  |
Operating leases | 7.6 | % |  | 7.4 | %
Finance leases | 7.2 | % |  | 7.2 | %
Supplemental cash flow and other information related to leases was as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 2,033 |  |  | $ | 1,990 |  |  | $ | 2,053 |
Operating cash flows from finance leases | 48 |  |  | 47 |  |  | 37 |
Financing cash flows from finance leases | 265 |  |  | 190 |  |  | 126 |
Gain on sale leaseback transactions, net | 12 |  |  | 2 |  |  | 25 |
Maturities of lease liabilities were as follows (in millions):
| December 31, 2023
| Operating Leases |  | Finance Leases
2024 | $ | 1,809 |  |  | $ | 166 |
2025 | 1,510 |  |  | 140 |
2026 | 1,289 |  |  | 114 |
2027 | 1,120 |  |  | 71 |
2028 | 988 |  |  | 30 |
2029 and thereafter | 3,708 |  |  | 89 |
Total lease payments | 10,424 |  |  | 610 |
Less: Imputed interest | (2,663) |  |  | (104) |
Total lease obligations | 7,761 |  |  | 506 |
Less: Current obligations | (1,309) |  |  | (131) |
Long-term lease obligations | $ | 6,452 |  |  | $ | 375 |
As of December 31, 2023, we had additional operating lease commitments that have not yet commenced of approximately $669 million for five Boeing 787 Family aircraft scheduled to be delivered in 2024 with lease terms of 10 years.
American Airlines, Inc. |
Lessee, Lease, Description [Line Items] |
Leases | Leases American leases certain aircraft and engines, including aircraft under capacity purchase agreements. As of December 31, 2023, American operated 737 leased aircraft, including seven aircraft in temporary storage and 237 aircraft leased under capacity purchase agreements, with remaining terms ranging from less than one year to 10 years. At each airport where American conducts flight operations, American has agreements, generally with a governmental unit or authority, for the use of passenger, operations and baggage handling space as well as runways and taxiways. These agreements, particularly in the U.S., often contain provisions for periodic adjustments to rates and charges applicable under such agreements. These rates and charges also vary with American’s level of operations and the operations of the airport. Because of the variable nature of these rates, these leases are not recorded on American’s consolidated balance sheets as a ROU asset or a lease liability. Additionally, at American’s hub locations and in certain other cities it serves, American leases administrative offices, catering, cargo, training, maintenance and other facilities. The components of lease expense were as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 1,992 |  |  | $ | 1,987 |  |  | $ | 1,998 |
Finance lease cost: |  |  |  |  |
Amortization of assets | 119 |  |  | 135 |  |  | 107 |
Interest on lease liabilities | 44 |  |  | 46 |  |  | 44 |
Variable lease cost | 2,703 |  |  | 2,572 |  |  | 2,461 |
Total net lease cost | $ | 4,858 |  |  | $ | 4,740 |  |  | $ | 4,610 |
Included in the table above is $274 million, $242 million and $190 million of operating lease cost under American’s capacity purchase agreement with Republic for the years ended December 31, 2023, 2022 and 2021, respectively. American holds a 25% equity interest in Republic Holdings, the parent company of Republic. Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
| December 31,
| 2023 |  | 2022
Operating leases: |  |  |
Operating lease ROU assets | $ | 7,886 |  |  | $ | 8,033 |
Current operating lease liabilities | $ | 1,292 |  |  | $ | 1,449 |
Noncurrent operating lease liabilities | 6,416 |  |  | 6,512 |
Total operating lease liabilities | $ | 7,708 |  |  | $ | 7,961 |
Finance leases: |  |  |
Property and equipment, at cost | $ | 1,352 |  |  | $ | 1,336 |
Accumulated amortization | (870) |  |  | (767) |
Property and equipment, net | $ | 482 |  |  | $ | 569 |
Current finance lease liabilities | $ | 124 |  |  | $ | 209 |
Noncurrent finance lease liabilities | 374 |  |  | 535 |
Total finance lease liabilities | $ | 498 |  |  | $ | 744 |
Weighted average remaining lease term (in years): |  |  |
Operating leases | 8.4 |  | 8.3
Finance leases | 5.8 |  | 5.0
Weighted average discount rate: |  |  |
Operating leases | 7.6 | % |  | 7.4 | %
Finance leases | 7.1 | % |  | 7.1 | %
Supplemental cash flow and other information related to leases was as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 2,011 |  |  | $ | 1,968 |  |  | $ | 2,040 |
Operating cash flows from finance leases | 47 |  |  | 46 |  |  | 37 |
Financing cash flows from finance leases | 255 |  |  | 179 |  |  | 126 |
Gain on sale leaseback transactions, net | 12 |  |  | 2 |  |  | 25 |
Maturities of lease liabilities were as follows (in millions):
| December 31, 2023
| Operating Leases |  | Finance Leases
2024 | $ | 1,789 |  |  | $ | 156 |
2025 | 1,498 |  |  | 140 |
2026 | 1,280 |  |  | 114 |
2027 | 1,115 |  |  | 71 |
2028 | 985 |  |  | 30 |
2029 and thereafter | 3,682 |  |  | 89 |
Total lease payments | 10,349 |  |  | 600 |
Less: Imputed interest | (2,641) |  |  | (102) |
Total lease obligations | 7,708 |  |  | 498 |
Less: Current obligations | (1,292) |  |  | (124) |
Long-term lease obligations | $ | 6,416 |  |  | $ | 374 |
As of December 31, 2023, American had additional operating lease commitments that have not yet commenced of approximately $669 million for five Boeing 787 Family aircraft scheduled to be delivered in 2024 with lease terms of 10 years.
Leases | Leases American leases certain aircraft and engines, including aircraft under capacity purchase agreements. As of December 31, 2023, American operated 737 leased aircraft, including seven aircraft in temporary storage and 237 aircraft leased under capacity purchase agreements, with remaining terms ranging from less than one year to 10 years. At each airport where American conducts flight operations, American has agreements, generally with a governmental unit or authority, for the use of passenger, operations and baggage handling space as well as runways and taxiways. These agreements, particularly in the U.S., often contain provisions for periodic adjustments to rates and charges applicable under such agreements. These rates and charges also vary with American’s level of operations and the operations of the airport. Because of the variable nature of these rates, these leases are not recorded on American’s consolidated balance sheets as a ROU asset or a lease liability. Additionally, at American’s hub locations and in certain other cities it serves, American leases administrative offices, catering, cargo, training, maintenance and other facilities. The components of lease expense were as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 1,992 |  |  | $ | 1,987 |  |  | $ | 1,998 |
Finance lease cost: |  |  |  |  |
Amortization of assets | 119 |  |  | 135 |  |  | 107 |
Interest on lease liabilities | 44 |  |  | 46 |  |  | 44 |
Variable lease cost | 2,703 |  |  | 2,572 |  |  | 2,461 |
Total net lease cost | $ | 4,858 |  |  | $ | 4,740 |  |  | $ | 4,610 |
Included in the table above is $274 million, $242 million and $190 million of operating lease cost under American’s capacity purchase agreement with Republic for the years ended December 31, 2023, 2022 and 2021, respectively. American holds a 25% equity interest in Republic Holdings, the parent company of Republic. Supplemental balance sheet information related to leases was as follows (in millions, except lease term and discount rate):
| December 31,
| 2023 |  | 2022
Operating leases: |  |  |
Operating lease ROU assets | $ | 7,886 |  |  | $ | 8,033 |
Current operating lease liabilities | $ | 1,292 |  |  | $ | 1,449 |
Noncurrent operating lease liabilities | 6,416 |  |  | 6,512 |
Total operating lease liabilities | $ | 7,708 |  |  | $ | 7,961 |
Finance leases: |  |  |
Property and equipment, at cost | $ | 1,352 |  |  | $ | 1,336 |
Accumulated amortization | (870) |  |  | (767) |
Property and equipment, net | $ | 482 |  |  | $ | 569 |
Current finance lease liabilities | $ | 124 |  |  | $ | 209 |
Noncurrent finance lease liabilities | 374 |  |  | 535 |
Total finance lease liabilities | $ | 498 |  |  | $ | 744 |
Weighted average remaining lease term (in years): |  |  |
Operating leases | 8.4 |  | 8.3
Finance leases | 5.8 |  | 5.0
Weighted average discount rate: |  |  |
Operating leases | 7.6 | % |  | 7.4 | %
Finance leases | 7.1 | % |  | 7.1 | %
Supplemental cash flow and other information related to leases was as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 2,011 |  |  | $ | 1,968 |  |  | $ | 2,040 |
Operating cash flows from finance leases | 47 |  |  | 46 |  |  | 37 |
Financing cash flows from finance leases | 255 |  |  | 179 |  |  | 126 |
Gain on sale leaseback transactions, net | 12 |  |  | 2 |  |  | 25 |
Maturities of lease liabilities were as follows (in millions):
| December 31, 2023
| Operating Leases |  | Finance Leases
2024 | $ | 1,789 |  |  | $ | 156 |
2025 | 1,498 |  |  | 140 |
2026 | 1,280 |  |  | 114 |
2027 | 1,115 |  |  | 71 |
2028 | 985 |  |  | 30 |
2029 and thereafter | 3,682 |  |  | 89 |
Total lease payments | 10,349 |  |  | 600 |
Less: Imputed interest | (2,641) |  |  | (102) |
Total lease obligations | 7,708 |  |  | 498 |
Less: Current obligations | (1,292) |  |  | (124) |
Long-term lease obligations | $ | 6,416 |  |  | $ | 374 |
As of December 31, 2023, American had additional operating lease commitments that have not yet commenced of approximately $669 million for five Boeing 787 Family aircraft scheduled to be delivered in 2024 with lease terms of 10 years.

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