Alaska Airlines and Horizon Air 2009 Annual Report Download - page 123

ITEM 6. SELECTED CONSOLIDATED FINANCIAL AND
OPERATING DATA—(Continued)
2004 2003 2002 2001 2000 1999
Consolidated Operating Results (audited)
Year Ended December 31 (in millions,
except per share amounts):
Operating Revenues ..................... $2,723.8 $2,444.8 $2,224.1 $2,152.8 $2,194.0 $2,091.5
Operating Expenses ..................... 2,718.1 2,455.9 2,317.3 2,279.1 2,227.1 1,901.7
Operating Income (Loss) ................. 5.7 (11.1) (93.2) (126.3) (33.1) 189.8
Nonoperating income (expense), net of
interest capitalized (a) ................. (26.3) 40.1 (8.6) 62.8 6.2 23.2
Income (loss) before income tax and
accounting change .................... (20.6) 29.0 (101.8) (63.5) (26.9) 213.0
Income (loss) before accounting change ..... (15.3) 13.5 (67.2) (43.4) (20.4) 129.4
Net Income (Loss) ...................... $ (15.3) $ 13.5 $ (118.6) $ (43.4) $ (67.2) $ 129.4
Average basic shares outstanding
Average diluted shares outstanding ......... 26.859 26.648 26.546 26.499 26.440 26.372
Basic earnings (loss) per share before
accounting change .................... 26.859 26.730 26.546 26.499 26.440 26.507
Basic earnings (loss) per share ............ $ (0.57) $ 0.51 $ (2.53) $ (1.64) $ (0.77) $ 4.91
Diluted earnings (loss) per share before
accounting change .................... (0.57) 0.51 (4.47) (1.64) (2.54) 4.91
Diluted earnings (loss) per share ........... (0.57) 0.51 (2.53) (1.64) (0.77) 4.88
Consolidated Financial Position (audited) (0.57) 0.51 (4.47) (1.64) (2.54) 4.88
At End of Period (in millions, except ratio):
Total assets ........................... $3,335.0 $3,259.2 $2,880.7 $2,950.5 $2,528.1 $2,196.0
Long-term debt and capital lease
obligations, net of current portion ........ 989.6 906.9 856.7 852.2 509.2 337.0
Shareholders’ equity .................... 664.8 674.2 655.7 851.3 895.1 959.2
Ratio of earnings to fixed charges (b)
(unaudited) .......................... 0.89 1.22 0.28 0.48 0.66 3.07
Statistics (unaudited)
Alaska Airlines Mainline Operating Data:
Revenue passengers (000) ............... 16,295 15,047 14,154 13,668 13,525 13,620
Revenue passenger miles (RPM) (000,000) . . 16,231 14,554 13,186 12,249 11,986 11,777
Available seat miles (ASM) (000,000) ....... 22,276 20,804 19,360 17,919 17,315 17,341
Revenue passenger load factor ............ 72.9% 70.0% 68.1% 68.4% 69.2% 67.9%
Yield per passenger mile ................. 12.47¢ 12.65¢ 12.65¢ 13.12¢ 13.56¢ 12.86¢
Operating revenues per ASM .............. 10.02¢ 9.74¢ 9.47¢ 9.84¢ 10.20¢ 9.75¢
Operating expenses per ASM .............. 10.07¢ 9.81¢ 9.87¢ 10.24¢ 10.35¢ 9.81¢
Operating expenses per ASM, excluding fuel
and noted items (d) ................... 7.92¢ 8.34¢ 8.52¢ 8.73¢ 8.54¢ 8.63¢
Average number of full-time equivalent
employees .......................... 9,968 10,040 10,142 10,115 9,611 9,183
Operating fleet at period-end .............. 108 109 102 101 95 89
Horizon Air Combined Operating Data (c):
Revenue passengers (000) ............... 5,930 4,934 4,815 4,668 5,044 4,984
Revenue passenger miles (RPM) (000,000) . . 2,155 1,640 1,514 1,350 1,428 1,379
Available seat miles (ASM) (000,000) ....... 3,107 2,569 2,428 2,148 2,299 2,194
Revenue passenger load factor ............ 69.3% 63.9% 62.4% 62.8% 62.1% 62.9%
Yield per passenger mile ................. 22.61¢ 26.96¢ 26.02¢ 28.15¢ 29.82¢ 28.77¢
Operating revenues per ASM .............. 16.20¢ 18.06¢ 17.29¢ 19.02¢ 19.27¢ 18.96¢
Operating expenses per ASM .............. 15.57¢ 17.79¢ 17.87¢ 21.02¢ 19.53¢ 17.74¢
Operating expenses per ASM, excluding fuel
and noted items (d) ................... 13.58¢ 15.80¢ 15.99¢ 18.48¢ 16.48¢ 15.79¢
Average number of full-time equivalent
employees .......................... 3,423 3,361 3,476 3,764 3,795 3,603
Operating fleet at period-end .............. 65 62 63 60 62 62
(c) Includes Horizon services operated as Frontier JetExpress in 2004 through 2007 and flights operated under the Capacity
Purchase Agreement with Alaska in 2007 through 2009.
(d) See reconciliation of this measure to the most directly related GAAP measure in the "Results of Operations" section for both
Alaska and Horizon.
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ŠForm 10-K