Alaska Airlines and Horizon Air 2013 Annual Report Download - page 138

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We also have investments in marketable
securities, which are exposed to market risk
associated with changes in interest rates. If
short-term interest rates were to average 1%
more than they did in 2013, interest income
would increase by approximately $14 million.
ITEM 8. CONSOLIDATED FINANCIAL STATEMENTS AND
SUPPLEMENTARY DATA
SELECTED QUARTERLY CONSOLIDATED FINANCIAL INFORMATION
(unaudited)
First Quarter Second Quarter Third Quarter Fourth Quarter
(in millions, except per share) 2013 2012 2013 2012 2013 2012 2013 2012
Operating revenues (a) . . . $1,133 $1,039 $1,256 $1,214 $1,557 $1,272 $1,210 $1,132
Operating income ....... 64 72 174 116 470 269 130 74
Net income ............ 37 41 104 68 289 163 78 44
Basic earnings per
share (b) ........ 0.52 0.57 1.49 0.95 4.13 2.30 1.12 0.62
Diluted earnings
per per share (b) . . 0.51 0.56 1.47 0.93 4.08 2.27 1.11 0.61
(a) In the third quarter the Company adopted Accounting Standards Update 2009-13, "Multiple-Deliverable Revenue
Arrangements—a consensus of the FASB Emerging Issues Task Force" (ASU 2009-13). Refer to Note 2 of the consolidated
financial statements for further details.
(b) For earnings per share, the sum of the quarters may not equal the total for the full year due to rounding.
52