Alaska Airlines and Horizon Air 2009 Annual Report Download - page 122

ITEM 6. SELECTED CONSOLIDATED FINANCIAL AND
OPERATING DATA
2009 2008 2007 2006 2005
Consolidated Operating Results (audited)
Year Ended December 31 (in millions, except per share
amounts):
Operating Revenues ............................ $3,399.8 $3,662.6 $3,506.0 $3,334.4 $2,975.3
Operating Expenses ............................ 3,132.4 3,834.8 3,295.1 3,424.6 2,808.8
Operating Income (Loss) ........................ 267.4 (172.2) 210.9 (90.2) 166.5
Nonoperating income (expense), net of interest
capitalized (a) ............................... (64.5) (41.0) (10.4) (0.5) (29.3)
Income (loss) before income tax and accounting
change .................................... 202.9 (213.2) 200.5 (90.7) 137.2
Income (loss) before accounting change ............ 202.9 (135.9) 124.3 (54.5) 84.5
Net Income (Loss) ............................. $ 121.6 $ (135.9) $ 124.3 $ (54.5) $ (5.9)
Average basic shares outstanding ................. 35.815 36.343 40.125 37.939 27.609
Average diluted shares outstanding ................ 36.154 36.343 40.424 37.939 33.917
Basic earnings (loss) per share before accounting
change .................................... $ 3.39 $ (3.74) $ 3.10 $ (1.44) $ 3.06
Basic earnings (loss) per share ................... 3.39 (3.74) 3.10 (1.44) (0.21)
Diluted earnings (loss) per share before accounting
change .................................... 3.36 (3.74) 3.07 (1.44) 2.65
Diluted earnings (loss) per share .................. 3.36 (3.74) 3.07 (1.44) (0.01)
Consolidated Financial Position (audited)
At End of Period (in millions, except ratio):
Total assets .................................. $4,985.0 $4,835.6 $4,490.9 $4,077.1 $3,792.0
Long-term debt and capital lease obligations, net of
current portion .............................. 1,699.2 1,596.3 1,124.6 1,031.7 969.1
Shareholders' equity ........................... 872.1 661.9 1,025.4 886.5 827.6
Ratio of earnings to fixed charges (b) (unaudited) ..... 1.92 (0.10) 1.83 0.40 1.72
Statistics (unaudited)
Alaska Airlines Mainline Operating Data:
Revenue passengers (000) ...................... 15,561 16,809 17,558 17,165 16,759
Revenue passenger miles (RPM) (000,000) ......... 18,362 18,712 18,451 17,822 16,915
Available seat miles (ASM) (000,000) .............. 23,144 24,218 24,208 23,278 22,292
Revenue passenger load factor ................... 79.3% 77.3% 76.2% 76.6% 75.9%
Yield per passenger mile ........................ 13.28¢ 14.13¢ 13.81¢ 13.76¢ 12.91¢
Operating revenues per ASM ..................... 11.74¢ 12.06¢ 11.52¢ 11.50¢ 10.76¢
Operating expenses per ASM ..................... 10.78¢ 12.54¢ 10.55¢ 11.93¢ 10.14¢
Operating expenses per ASM, excluding fuel and noted
items (d) ................................... 8.26¢ 7.49¢ 7.50¢ 7.76¢ 7.90¢
Average number of full-time equivalent employees .... 8,915 9,628 9,679 9,322 9,065
Operating fleet at period-end ..................... 115 110 115 114 110
Horizon Air Combined Operating Data (c):
Revenue passengers (000) ...................... 6,759 7,390 7,552 6,860 6,481
Revenue passenger miles (RPM) (000,000) ......... 2,408 2,635 2,918 2,691 2,475
Available seat miles (ASM) (000,000) .............. 3,292 3,617 3,978 3,632 3,400
Revenue passenger load factor ................... 73.1% 72.9% 73.4% 74.1% 72.8%
Yield per passenger mile ........................ 26.73¢ 27.43¢ 24.30¢ 23.53¢ 21.98¢
Operating revenues per ASM ..................... 19.88¢ 20.29¢ 18.06¢ 17.73¢ 16.36¢
Operating expenses per ASM ..................... 18.64¢ 21.42¢ 18.07¢ 17.41¢ 15.50¢
Operating expenses per ASM, excluding fuel and noted
items (d) ................................... 15.33¢ 14.52¢ 14.58¢ 14.20¢ 13.36¢
Average number of full-time equivalent employees .... 3,308 3,699 3,897 3,611 3,456
Operating fleet at period-end ..................... 58 59 70 69 65
(a) Includes capitalized interest of $7.6 million, $23.2 million, $27.8 million, $24.7 million, $8.9 million, $1.7 million, $2.3
million, $2.7 million, $10.6 million, $17.7 million, and $12.6 million for 2009, 2008, 2007, 2006, 2005, 2004, 2003,
2002, 2001, 2000, and 1999, respectively.
(b) For 2008, 2006, 2004, 2002, 2001, and 2000 earnings are inadequate to cover fixed charges by $236.4 million, $115.4
million, $17.4 million, $99.5 million, $69.1 million, and $44.6 million, respectively. See Exhibit 12.1 to this Form 10-K.
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