Alaska Airlines and Horizon Air 2007 Annual Report Download - page 126

ITEM 6. SELECTED CONSOLIDATED FINANCIAL AND
OPERATING DATA
2007 2006 2005 2004 2003
Consolidated Operating Results
Year Ended December 31 (in millions, except
per share amounts):
Operating Revenues ...................... $3,506.0 $3,334.4 $2,975.3 $2,723.8 $2,444.8
Operating Expenses ...................... 3,294.0 3,421.7 2,808.8 2,718.1 2,455.9
Operating Income (Loss) .................. 212.0 (87.3) 166.5 5.7 (17.5)
Nonoperating income (expense), net of interest
capitalized (a) ......................... (10.4) (0.5) (29.3) (26.3) 46.5
Income (loss) before income tax and
accounting change ..................... 201.6 (87.8) 137.2 (20.6) 29.0
Income (loss) before accounting change ...... 125.0 (52.6) 84.5 (15.3) 13.5
Net Income (Loss) ....................... $ 125.0 $ (52.6) $ (5.9) $ (15.3) $ 13.5
Average basic shares outstanding ........... 40.125 37.939 27.609 26.859 26.648
Average diluted shares outstanding .......... 40.424 37.939 33.917 26.859 26.730
Basic earnings (loss) per share before
accounting change ..................... $ 3.12 $ (1.39) $ 3.06 $ (0.57) $ 0.51
Basic earnings (loss) per share ............. 3.12 (1.39) (0.21) (0.57) 0.51
Diluted earnings (loss) per share before
accounting change ..................... 3.09 (1.39) 2.65 (0.57) 0.51
Diluted earnings (loss) per share ............ 3.09 (1.39) (0.01) (0.57) 0.51
Consolidated Financial Position
At End of Period (in millions, except ratio):
Total assets ............................ $4,490.9 $4,077.1 $3,792.0 $3,335.0 $3,259.2
Long-term debt and capital lease obligations,
net of current portion ................... 1,124.6 1,031.7 969.1 989.6 906.9
Shareholders’ equity ..................... 1,024.0 885.5 827.6 664.8 674.2
Ratio of earnings to fixed charges (b) ........ 1.52 0.42 1.78 0.89 1.22
Statistics
Alaska Airlines Mainline Operating Data:
Revenue passengers (000) ................ 17,558 17,165 16,759 16,295 15,047
Revenue passenger miles (RPM) (000,000) . . . 18,451 17,822 16,915 16,231 14,554
Available seat miles (ASM) (000,000) ........ 24,208 23,278 22,292 22,276 20,804
Revenue passenger load factor ............. 76.2% 76.6% 75.9% 72.9% 70.0%
Yield per passenger mile .................. 13.81¢ 13.76¢ 12.91¢ 12.47¢ 12.65¢
Operating revenues per ASM ............... 11.52¢ 11.50¢ 10.76¢ 10.02¢ 9.74¢
Operating expenses per ASM ............... 10.54¢ 11.92¢ 10.14¢ 10.07¢ 9.81¢
Average number of full-time equivalent
employees ........................... 9,679 9,322 9,065 9,968 10,040
Operating fleet at period-end ............... 115 114 110 108 109
Horizon Air Combined Operating Data (c):
Revenue passengers (000) ................ 7,552 6,860 6,481 5,930 4,934
Revenue passenger miles (RPM) (000,000) . . . 2,918 2,691 2,475 2,155 1,640
Available seat miles (ASM) (000,000) ........ 3,978 3,632 3,400 3,107 2,569
Revenue passenger load factor ............. 73.4% 74.1% 72.8% 69.3% 63.9%
Yield per passenger mile .................. 24.30¢ 23.53¢ 21.98¢ 22.61¢ 26.96¢
Operating revenues per ASM ............... 18.06¢ 17.73¢ 16.36¢ 16.20¢ 18.06¢
Operating expenses per ASM ............... 18.07¢ 17.40¢ 15.50¢ 15.57¢ 17.79¢
Average number of full-time equivalent
employees ........................... 3,806 3,611 3,456 3,423 3,361
Operating fleet at period-end ............... 70 69 65 65 62
(a) Includes capitalized interest of $27.8 million, $24.7 million, $8.9 million, $1.7 million, $2.3 million, $2.7 million, $10.6
million, $17.7 million, $12.6 million, $7.0 million, and $5.3 million for 2007, 2006, 2005, 2004, 2003, 2002, 2001, 2000,
1999, 1998, and 1997, respectively.
(b) For 2006, 2004, 2002, 2001, and 2000 earnings are inadequate to cover fixed charges by $107.6 million, $17.4 million,
$99.5 million, $69.1 million, and $44.6 million, respectively. See Exhibit 12.1 to this Form 10-K.
(c) Includes Horizon services operated as Frontier JetExpress in 2004 through 2007 and flights operated under the Capacity
Purchase Agreement with Alaska in 2007.
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