2.Compute the Return on Equity (show work to get full points)

3. Compute the Earnings per Share (show work to get full points

- Consolidated Statements of Stockholders' Equity - USD ($) Total Change in accounting principle and other Common Stock Additional Paid-in Capital Retained Earnings / (Deficit) Change in accounting principle and other Accumulated Other Comprehensive Loss Change in accounting principle and other Treasury Stock Retained Earnings 1 (Deficit) ( Accumulated Other Comprehensive Loss shares in Millions, $ in Millions Beginning balance at Dec 31, 2017 $ 12,530 S (260) 5 SO $ 12,053 S 8,256 $ (154) S (7,621) S (106) S (158) Beginning balance (shares) at Dec. 31, 2017 715 7 Consolidated Statements of Stockholders' Equity Net (loss Vincome 3,935 3,935 Dividends declared (909) (909) Other comprehensive loss (98) (98) Common stock issued for employee WISS 51 91 equity awards and other $ (40) Common stock issued for employee 1 equity awards and other (shares) 1 [1] Stock options exercised 13 13 Stock options exercised (shares) 1 . Stock purchased and retired (1,575) (486) (1,089) Stock purchased and retired (shares) ( (29) Ending balance at Dec 31, 2018 13,687 SO Balance 11,671 10,039 (7,825) S (198) Ending balance (shares) at Dec 31, 2018 688 8 Consolidated Statements of Stockholders' Equity Net (loss Vincome ( 4,767 4,767 Dividends declared (981) (981) Other comprehensive loss (164) (164) Common stock issued for employee 76 114 equity awards and other S (38) Common stock issued for employee 2 equity awards and other (shares) 1 11 Stock purchased and retired (2,027) (656) (1,371) Stock purchased and retired (shares) (38) Ending balance at Dec. 31, 2019 Endine hala 15,358 SO 11,129 12,454 (7,989) S (236) Ending balance (shares) at Dec 31, 2019 652 9 Consolidated Statements of Stockholders' Equity Net (loss income (12,385) (12,385) Dividende declared Dividends declared (257) (257) Other comprehensive loss (1,049) (1,049) Common stock issued for employee 97 120 equity awards and other $ (23) Common stock issued for employee 1 equity awards and other (shares) 011 Stock purchased and retired (344) (104) ) (240) Stock purchased and retired (shares) (6) Government support warrant issuance 114 114 Ending balance at Dec. 31, 2020 S 1,534 SO $ 11,259 S (428) S (9,038) S (259) Ending balance (shares) at Dec 31, 2020 647 9 [1] Treasury shares were withheld for payment of taxes, at a weighted average price per share of $52.17, 550.20 and $54.90 in 2020, 2019 and 2018, respectively. Consolidated Statements of 12 Months Ended Operations - USD ($) $ in Millions Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Operating Revenue: Operating revenue $ 17,095 $ 47,007 S 44,438 Operating Expense: Salaries and related costs 8,754 11,225 10,743 Aircraft fuel and related taxes 3,176 8,519 9,020 Regional carriers expense, excluding fuel 2,479 3,584 3,438 Depreciation and amortization 2,312 2,581 2,329 Ancillary businesses and refinery 1,785 1,245 1,695 Contracted services 1,778 2,641 2,175 Landing fees and other rents 1,518 1,762 1,662 Aircraft maintenance materials and 822 1,751 outside repairs 1,575 Passenger commissions and other selling 582 1,993 1,941 expenses Passenger service 523 1,251 1,178 Aircraft rent 399 423 394 Restructuring charges 8,219 0 0 Government grant recognition (3,946) 0 0 Profit sharing 0 1,643 1,301 Other 1,163 1,771 1,723 Total operating expense 29,564 40,389 39,174 Operating (Loss Income (12,469) 6,618 5,264 Non-Operating Expense: Interest expense, net (929) (301) (311) Impairments and equity method losses (2,432) (62) (60) Gain/(loss) on investments, net (105) 119 38 Miscellaneous, net 348 (176) 220 Total non-operating expense, net (3,118) (420) (113) (LossIncome Before Income Taxes (15,587) 6,198 5,151 Income Tax Benefit/(Provision) 3,202 (1,431) (1,216) Net (Loss Vincome S (12,385) $ 4,767 $ 3,935 Basic (Loss) Earnings Per Share (usd S (19.49) $7.32 $ 5.69 per share) Diluted (Loss) Earnings Per Share (usd (19.49) 7.30 5.67 per share) Cash Dividends Declared Per Share (usd $ 0.40 $ 1.51 $ 1.31 per share) Passenger Operating Revenue: Operating revenue $ 12,883 $ 42,277 $ 39,755 Cargo Operating Revenue: Operating revenue 608 753 865 Other Operating Revenue: Operating revenue $ 3,604 $ 3,977 $ 3,818 0 Consolidated Balance Sheets - USD ($) Dec. 31, 2020 Dec. 31, 2019 $ in Millions Current Assets: Cash and cash equivalents S 8,307 $ 2,882 Short-term investments 5,789 Accounts receivable, net of an allowance for uncollectible accounts of 1,396 2,854 589 and 513 as of 2020 and 2019, respectively Fuel inventory 377 730 Expendable parts and supplies inventories, net of an allowance for 355 521 obsolescence of $188 and $82 as of 2020 and 2019, respectively Prepaid expenses and other 1,180 1,262 Total current assets 17,404 8,249 Noncurrent Assets: Property and equipment, net of accumulated depreciation and 26,529 31,310 amortization of $17,511 and $17,027 as of 2020 and 2019, respectively Operating lease right-of-use assets 5,733 5,627 Goodwill 9,753 9,781 Identifiable intangibles, net of accumulated amortization of $883 and 6,011 5,163 S873 as of 2020 and 2019, respectively Cash restricted for airport construction 1,556 636 Equity investments 1,665 2,568 Deferred income taxes, net 1,988 120 Other noncurrent assets 1,357 1,078 Total noncurrent assets 54,592 56,283 Total assets 71,996 64,532 Current Liabilities: Current maturities of debt and finance 1,732 2,287 leases Current maturities of operating leases 678 801 Accounts payable 2,840 3,266 Accrued salaries and related benefits 2,086 3,701 Fuel card obligation 1,100 736 Other accrued liabilities 1,670 1,078 Total current liabilities 15,927 20,204 Noncurrent Liabilities: Debt and finance leases 27,425 8,873 Pension, postretirement and related 10,630 8,452 benefits Noncurrent operating leases 5,713 5,294 Deferred income taxes, net 0 1,456 Other noncurrent liabilities 4,862 1,386 Total noncurrent liabilities 54,535 28,970 Commitments and Contingencies Stockholders' Equity: Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 0 647,352,203 and 651,731,443 shares issued as of 2020 and 2019, respectively Additional paid-in capital 11,259 11,129 Retained earnings/(deficit) (428) 12,454 Accumulated other comprehensive loss (9,038) (7,989) - Consolidated Statements of Stockholders' Equity - USD ($) Total Change in accounting principle and other Common Stock Additional Paid-in Capital Retained Earnings / (Deficit) Change in accounting principle and other Accumulated Other Comprehensive Loss Change in accounting principle and other Treasury Stock Retained Earnings 1 (Deficit) ( Accumulated Other Comprehensive Loss shares in Millions, $ in Millions Beginning balance at Dec 31, 2017 $ 12,530 S (260) 5 SO $ 12,053 S 8,256 $ (154) S (7,621) S (106) S (158) Beginning balance (shares) at Dec. 31, 2017 715 7 Consolidated Statements of Stockholders' Equity Net (loss Vincome 3,935 3,935 Dividends declared (909) (909) Other comprehensive loss (98) (98) Common stock issued for employee WISS 51 91 equity awards and other $ (40) Common stock issued for employee 1 equity awards and other (shares) 1 [1] Stock options exercised 13 13 Stock options exercised (shares) 1 . Stock purchased and retired (1,575) (486) (1,089) Stock purchased and retired (shares) ( (29) Ending balance at Dec 31, 2018 13,687 SO Balance 11,671 10,039 (7,825) S (198) Ending balance (shares) at Dec 31, 2018 688 8 Consolidated Statements of Stockholders' Equity Net (loss Vincome ( 4,767 4,767 Dividends declared (981) (981) Other comprehensive loss (164) (164) Common stock issued for employee 76 114 equity awards and other S (38) Common stock issued for employee 2 equity awards and other (shares) 1 11 Stock purchased and retired (2,027) (656) (1,371) Stock purchased and retired (shares) (38) Ending balance at Dec. 31, 2019 Endine hala 15,358 SO 11,129 12,454 (7,989) S (236) Ending balance (shares) at Dec 31, 2019 652 9 Consolidated Statements of Stockholders' Equity Net (loss income (12,385) (12,385) Dividende declared Dividends declared (257) (257) Other comprehensive loss (1,049) (1,049) Common stock issued for employee 97 120 equity awards and other $ (23) Common stock issued for employee 1 equity awards and other (shares) 011 Stock purchased and retired (344) (104) ) (240) Stock purchased and retired (shares) (6) Government support warrant issuance 114 114 Ending balance at Dec. 31, 2020 S 1,534 SO $ 11,259 S (428) S (9,038) S (259) Ending balance (shares) at Dec 31, 2020 647 9 [1] Treasury shares were withheld for payment of taxes, at a weighted average price per share of $52.17, 550.20 and $54.90 in 2020, 2019 and 2018, respectively. Consolidated Statements of 12 Months Ended Operations - USD ($) $ in Millions Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Operating Revenue: Operating revenue $ 17,095 $ 47,007 S 44,438 Operating Expense: Salaries and related costs 8,754 11,225 10,743 Aircraft fuel and related taxes 3,176 8,519 9,020 Regional carriers expense, excluding fuel 2,479 3,584 3,438 Depreciation and amortization 2,312 2,581 2,329 Ancillary businesses and refinery 1,785 1,245 1,695 Contracted services 1,778 2,641 2,175 Landing fees and other rents 1,518 1,762 1,662 Aircraft maintenance materials and 822 1,751 outside repairs 1,575 Passenger commissions and other selling 582 1,993 1,941 expenses Passenger service 523 1,251 1,178 Aircraft rent 399 423 394 Restructuring charges 8,219 0 0 Government grant recognition (3,946) 0 0 Profit sharing 0 1,643 1,301 Other 1,163 1,771 1,723 Total operating expense 29,564 40,389 39,174 Operating (Loss Income (12,469) 6,618 5,264 Non-Operating Expense: Interest expense, net (929) (301) (311) Impairments and equity method losses (2,432) (62) (60) Gain/(loss) on investments, net (105) 119 38 Miscellaneous, net 348 (176) 220 Total non-operating expense, net (3,118) (420) (113) (LossIncome Before Income Taxes (15,587) 6,198 5,151 Income Tax Benefit/(Provision) 3,202 (1,431) (1,216) Net (Loss Vincome S (12,385) $ 4,767 $ 3,935 Basic (Loss) Earnings Per Share (usd S (19.49) $7.32 $ 5.69 per share) Diluted (Loss) Earnings Per Share (usd (19.49) 7.30 5.67 per share) Cash Dividends Declared Per Share (usd $ 0.40 $ 1.51 $ 1.31 per share) Passenger Operating Revenue: Operating revenue $ 12,883 $ 42,277 $ 39,755 Cargo Operating Revenue: Operating revenue 608 753 865 Other Operating Revenue: Operating revenue $ 3,604 $ 3,977 $ 3,818 0 Consolidated Balance Sheets - USD ($) Dec. 31, 2020 Dec. 31, 2019 $ in Millions Current Assets: Cash and cash equivalents S 8,307 $ 2,882 Short-term investments 5,789 Accounts receivable, net of an allowance for uncollectible accounts of 1,396 2,854 589 and 513 as of 2020 and 2019, respectively Fuel inventory 377 730 Expendable parts and supplies inventories, net of an allowance for 355 521 obsolescence of $188 and $82 as of 2020 and 2019, respectively Prepaid expenses and other 1,180 1,262 Total current assets 17,404 8,249 Noncurrent Assets: Property and equipment, net of accumulated depreciation and 26,529 31,310 amortization of $17,511 and $17,027 as of 2020 and 2019, respectively Operating lease right-of-use assets 5,733 5,627 Goodwill 9,753 9,781 Identifiable intangibles, net of accumulated amortization of $883 and 6,011 5,163 S873 as of 2020 and 2019, respectively Cash restricted for airport construction 1,556 636 Equity investments 1,665 2,568 Deferred income taxes, net 1,988 120 Other noncurrent assets 1,357 1,078 Total noncurrent assets 54,592 56,283 Total assets 71,996 64,532 Current Liabilities: Current maturities of debt and finance 1,732 2,287 leases Current maturities of operating leases 678 801 Accounts payable 2,840 3,266 Accrued salaries and related benefits 2,086 3,701 Fuel card obligation 1,100 736 Other accrued liabilities 1,670 1,078 Total current liabilities 15,927 20,204 Noncurrent Liabilities: Debt and finance leases 27,425 8,873 Pension, postretirement and related 10,630 8,452 benefits Noncurrent operating leases 5,713 5,294 Deferred income taxes, net 0 1,456 Other noncurrent liabilities 4,862 1,386 Total noncurrent liabilities 54,535 28,970 Commitments and Contingencies Stockholders' Equity: Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 0 647,352,203 and 651,731,443 shares issued as of 2020 and 2019, respectively Additional paid-in capital 11,259 11,129 Retained earnings/(deficit) (428) 12,454 Accumulated other comprehensive loss (9,038) (7,989)