Alaska Airlines and Horizon Air 2007 Annual Report Download - page 188

NOTE 11. DETAIL OF OTHER FINANCIAL STATEMENT CAPTIONS
Receivables
Receivables consisted of the following at
December 31 (in millions):
2007 2006
Airline traffic receivables .......... $ 59.4 $ 59.5
Mileage Plan receivables .......... 39.0 31.4
Receivables from fuel-hedging
counterparties ................. 12.3 4.8
Other receivables ................ 28.9 41.4
Allowance for doubtful accounts .... (1.6) (2.9)
$138.0 $134.2
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets
consisted of the following at December 31 (in
millions):
2007 2006
Prepaid aircraft rent .............. $51.1 $51.2
Prepaid fuel .................... 13.6 14.2
Other ......................... 20.7 22.7
$85.4 $88.1
Other Assets
Other assets consisted of the following at
December 31 (in millions):
2007 2006
Restricted deposits (primarily
restricted investments) .......... $ 90.4 $ 91.2
Deferred costs and other* ......... 36.1 31.9
$126.5 $123.1
* Deferred costs and other includes deferred financing
costs, long-term prepaid rent, lease deposits and other
items.
At December 31, 2007, the Company’s
restricted deposits were primarily restricted
investments used to guarantee various letters of
credit and workers’ compensation self-insurance
programs. The restricted investments consist of
highly liquid securities with original maturities of
three months or less. They are carried at cost,
which approximates market.
Other Accrued Liabilities (current)
Other accrued liabilities consisted of the
following at December 31 (in millions):
2007 2006
Mileage Plan current liabilities ....... $239.7 $196.6
Pension liability (nonqualified plans) . . 2.0 2.0
Postretirement medical benefits
liability ....................... 4.7 3.9
Other* ......................... 202.1 201.8
$448.5 $404.3
* Other consists of property and transportation taxes and
accruals related to ground operations, facilities rent,
maintenance, and fuel, among other items.
Other Liabilities (noncurrent)
Other liabilities consisted of the following at
December 31 (in millions):
2007 2006
Pension liability (qualified plans) ..... $146.3 $215.4
Pension liability (nonqualified plans) . . 32.9 32.6
Postretirement medical benefits
liability ....................... 97.0 93.6
Mileage Plan liability ............... 21.0 20.7
FIN 48 tax liability (see Note 13) ..... 27.9 —
Other* ......................... 83.0 113.3
$408.1 $475.6
* Other consists of accrued aircraft rent, workers’
compensation, and deferred credits on aircraft
purchases, among other items.
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss
consisted of the following at December 31 (in
millions, net of tax):
2007 2006
Unrealized loss (gain) on marketable
securities considered
available-for-sale ............... (3.1) 0.2
Related to pension plans .......... 121.8 172.5
Related to postretirement medical
benefits ...................... 14.6 18.7
$133.3 $191.4
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