Table of Contents ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA Selected Consolidated Financial Data of AAG Reconciliation of GAAP to Non-GAAP Financial Measures We adopted three new accounting standards as of January 1, 2018: Accounting Standards Update (ASU) 2016-02: Leases (Topic 842) (the New Lease Standard), ASU 2014-09: Revenue from Contracts with Customers (the New Revenue Standard) and ASU 2017-07: Compensation - Retirement Benefits (the New Retirement Standard). The 2017 and 2016 financial information presented within this Item 6. Selected Consolidated Financial Data has been recast to reflect the impact of the adoption of the New Revenue Standard and the New Retirement Standard. The New Lease Standard did not require the recast of prior periods. See Note 1(b) to each of AAG’s and American’s Consolidated Financial Statements in Part II, Items 8A and 8B, respectively, of AAG’s and American’s Annual Report on Form 10-K for the year ended December 31, 2018, for further information on the impacts of these new accounting standards. The selected consolidated financial data presented below under the captions “Consolidated Statements of Operations data” and “Consolidated Balance Sheet data” for the years ended and as of December 31, 2020, 2019, 2018, 2017 and 2016, are derived from AAG’s audited consolidated financial statements. Substantially all defined benefit pension plans were frozen effective November 1, 2012. See Note 10 to AAG's Consolidated Financial Statements in Part II, Item 8A for further information on pension and postretirement benefits. (1) We sometimes use financial measures that are derived from the consolidated financial statements but that are not presented in accordance with accounting principles generally accepted in the U.S. (GAAP) to understand and evaluate our current operating performance and to allow for period-to- period comparisons. We believe these non-GAAP financial measures may also provide useful information to investors and others. These non-GAAP measures may not be comparable to similarly titled non-GAAP measures of other companies, and should be considered in addition to, and not as a substitute for or superior to, any measure of performance, cash flow or liquidity prepared in accordance with GAAP. We are providing a reconciliation of reported non-GAAP financial measures to their comparable financial measures on a GAAP basis. 60 Year Ended December 31, 2020 2019 2018 2017 2016 (In millions, except share and per share amounts) Consolidated Statements of Operations data: Total operating revenues $ 17,337  $ 45,768  $ 44,541  $ 42,622  $ 40,142  Total operating expenses 27,758  42,703  41,885  38,391  35,082  Operating income (loss) (10,421) 3,065  2,656  4,231  5,060  Net income (loss) (8,885) 1,686  1,412  1,282  2,584  Earnings (loss) per common share: Basic $ (18.36) $ 3.80  $ 3.04  $ 2.62  $ 4.68  Diluted (18.36) 3.79  3.03  2.61  4.65  Shares used for computation (in thousands): Basic 483,888  443,363  464,236  489,164  552,308  Diluted 483,888  444,269  465,660  491,692  556,099  Cash dividends declared per common share $ 0.10  $ 0.40  $ 0.40  $ 0.40  $ 0.40  Consolidated Balance Sheet data  (at end of period): Total assets $ 62,008  $ 59,995  $ 60,580  $ 52,785  $ 53,610  Debt and finance leases 32,593  24,315  24,473  25,065  24,344  Pension and postretirement obligations  7,131  6,081  6,937  7,596  7,946  Operating lease liabilities 8,428  9,129  9,556  —  —  Stockholders’ deficit (6,867) (118) (169) (780) (286) (1)