Airtran 2007 Annual Report Download - page 46

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40
AirTran Holdings, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
Year ended Decembe
r
31
,
2007 2006 2005
Operating Revenues:
Passenger.........................................................................................................
.
$2,198,910 $1,814,907 $1,396,451
Other ...............................................................................................................
.
107,640 73,315 48,886
Cargo...............................................................................................................
.
3,433 3,861 4,363
Total operating revenues .........................................................................
.
2,309,983 1,892,083 1,449,700
Operating Expenses:
Aircraft fuel.....................................................................................................
.
803,640 675,336 462,672
Salaries, wages and benefits .............................................................................
.
451,818 390,348 329,299
Aircraft rent.....................................................................................................
.
242,764 230,699 192,394
Maintenance, materials and repairs...................................................................
.
151,265 126,062 84,641
Distribution......................................................................................................
.
88,461 69,888 67,395
Landing fees and other rents.............................................................................
.
122,800 100,761 80,774
Aircraft insurance and securit
y
services ............................................................
.
23,761 25,678 23,100
Marketing and advertising................................................................................
.
40,415 44,792 36,400
Depreciation and amortization..........................................................................
.
48,485 30,078 20,224
Other operating................................................................................................
.
198,648 157,580 130,155
Total operating expenses.........................................................................
.
2,172,057 1,851,222 1,427,054
Operating Income ...................................................................................................
.
137,926 40,861 22,646
Other (Income) Expense:
Interest income ................................................................................................
.
(20,401) (21,714) (11,771)
Interest expense ...............................................................................................
.
75,530 50,861 30,787
Capitalized interest ..........................................................................................
.
(9,226) (12,943) (8,550)
U
nrealized (gains) losses on derivative financial instruments, net......................
.
255 — —
Gain on sale of aircraft.....................................................................................
.
(6,234) — —
Midwest exchange offer expenses ....................................................................
.
10,650 — —
Other (income) expense, net.............................................................................
.
50,574 16,204 10,466
Income Before Income Taxe
s
..................................................................................
.
87,352 24,657 12,180
Income tax expense...................................................................................................
.
34,669 9,943 4,635
Net Income ..............................................................................................................
.
$ 52,683 $ 14,714 $ 7,545
Earnings Per Common Share:
Basic ...............................................................................................................
.
$ 0.58 $ 0.16 $ 0.09
Diluted ............................................................................................................
.
$ 0.56 $ 0.16 $ 0.08
Weighted-Average Shares Outstanding:
Basic ...............................................................................................................
.
91,574 90,504 87,337
Diluted ............................................................................................................
.
104,319 92,436 90,185
See accompanying notes to Consolidated Financial Statements.