Alaska Airlines and Horizon Air 2014 Annual Report Download - page 149

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CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31 (in millions, except per-share amounts) 2014 2013 2012
Operating Revenues
Passenger
Mainline $ 3,774 $ 3,490 $ 3,284
Regional 805 777 746
Total passenger revenue 4,579 4,267 4,030
Freight and mail 114 113 111
Other - net 675 584 516
Special mileage plan revenue –192 –
Total Operating Revenues 5,368 5,156 4,657
Operating Expenses
Wages and benefits 1,136 1,086 1,038
Variable incentive pay 116 105 88
Aircraft fuel, including hedging gains and losses 1,418 1,467 1,459
Aircraft maintenance 229 247 222
Aircraft rent 110 119 116
Landing fees and other rentals 279 262 243
Contracted services 254 221 200
Selling expenses 199 179 168
Depreciation and amortization 294 270 264
Food and beverage service 93 84 79
Other 308 278 248
Special items (30) ––
Total Operating Expenses 4,406 4,318 4,125
Operating Income 962 838 532
Nonoperating Income (Expense)
Interest income 21 18 19
Interest expense (48) (56) (64)
Interest capitalized 20 21 18
Other - net 20 (5) 9
13 (22) (18)
Income before income tax 975 816 514
Income tax expense 370 308 198
Net Income $ 605 $ 508 $ 316
Basic Earnings Per Share: $ 4.47 $ 3.63 $ 2.23
Diluted Earnings Per Share: $ 4.42 $ 3.58 $ 2.20
Shares used for computation:
Basic 135.445 139.910 141.416
Diluted 136.801 141.878 143.568
Cash dividend declared per share $ 0.50 $ 0.20 $ –
See accompanying notes to consolidated financial statements.
65
ŠForm 10-K