Airtran 2002 Annual Report Download - page 32

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Consolidated Statements of Operations
(In thousands, except per share data)
Year ended December 31, 2002 2001 2000
Operating Revenues:
Passenger $713,711 $648,486 $604,826
Cargo 1,206 1,937 4,183
Other 18,453 14,741 15,085
Total operating revenues 733,370 665,164 624,094
Operating Expenses:
Salaries, wages and benefits 203,435 159,057 137,391
Aircraft fuel 154,467 139,355 140,404
Maintenance, materials and repairs 47,288 68,670 73,238
Distribution 43,115 45,400 39,972
Landing fees and other rents 42,291 35,672 28,752
Aircraft insurance and security services 29,323 12,511 6,142
Marketing and advertising 20,967 18,468 16,412
Aircraft rent 72,690 35,363 12,616
Depreciation 17,072 28,159 23,087
Other operating 72,159 67,188 64,929
Impairment loss/lease termination –46,069 –
Special charges –2,494 –
Government grant (640) (28,951) –
Total operating expenses 702,167 629,455 542,943
Operating Income 31,203 35,709 81,151
Other (Income) Expense:
Interest income (2,102) (4,959) (5,602)
Interest expense 29,203 37,441 39,317
Convertible debt discount amortization –4,291 –
SFAS 133 adjustment (5,857) (2,204) –
Other expense, net 21,244 34,569 33,715
Income Before Income Taxes and Cumulative Effect of Change in Accounting Principle 9,959 1,140 47,436
Income tax (benefit) expense (786) 3,240 –
Income (Loss) Before Cumulative Effect of Change in Accounting Principle 10,745 (2,100) 47,436
Cumulative effect of change in accounting principle, net of tax –(657) –
Net Income (Loss) $ 10,745 $ (2,757) $ 47,436
Earnings (Loss) Per Common Share
Basic Earnings (Loss) Per Common Share Before Cumulative Effect of Change in Accounting Principle $ 0.15 $ (0.03) $ 0.72
Cumulative Effect of Change in Accounting Principle –(0.01) –
Net Income (Loss) Per Share, Basic $ 0.15 $ (0.04) $ 0.72
Diluted Earnings (Loss) Per Common Share Before Cumulative Effect of Change in Accounting Principle $ 0.15 $ (0.03) $ 0.69
Cumulative Effect of Change in Accounting Principle –(0.01) –
Net Income (Loss) Per Share, Diluted $ 0.15 $ (0.04) $ 0.69
Weighted-Average Shares Outstanding
Basic 70,409 67,774 65,759
Diluted 73,153 67,774 69,175
See accompanying notes to consolidated financial statements.
11
AirTran Holdings, Inc.