Calculate the lease-related liabilities

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AMR Corp. disclosed the following lease information in its 2011 annual report related to its leasing activities (in millions). Capital Leases Operating Leases 2012 $ 167 $ 1,176 2013 149 1,091 2014 129 942 2015 118 779 2016 78 685 Thereafter 477 5,940 Total 1,118 $10,613 Amount representing interest (439) Present value of net minimum lease payments $ 679 a. What did AMR report on its 2011 balance sheet related to leases? b. Calculate the lease-related liabilities that are potentially missing from AMR’s 2011 balance sheet. Assume a discount rate of 11% and assume that the payments made in 2017 and beyond are made in 9 installments.

Reference no: EM131179651

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