SkyWest Airlines 2005 Annual Report Download - page 59

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55
revenues, net income and earnings per share for the years ended December 31, 2005 and 2004 (in thousands, except per share
amounts):
Years ended
December 31,
2005 2004
Revenue $ 2,766,368 $ 2,091,486
Net Income (loss) $ 139,454 $ (382,567)
Basic earnings (loss) per share $ 2.41 $ (6.61)
Diluted earnings (loss) per share $ 2.37 $ (6.61)
During the year ended December 31, 2004 ASA recorded an impairment of goodwill of $498.7 million which contributed to
the net loss of $382.6 million.
(3) Long-term Debt
Long-term debt consisted of the following as of December 31, 2005 and 2004 (in thousands):
December 31, December 31,
2005 2004
Notes payable to banks, due in semi-annual installments,
variable interest based on LIBOR, or with interest rates ranging from
4.16% to 6.23% through 2012 to 2020, secured by aircraft
$ 666,758
$ 207,530
Notes payable to a financing company, due in semi-annual installments,
variable interest based on LIBOR, or with interest rates ranging from
3.51% to 7.01% through 2006 to 2021, secured by aircraft 643,831 —
Notes payable to banks, due in semi-annual installments plus
interest at 6.06% to 7.18% through 2021, secured by aircraft 297,624 170,716
Notes payable to a financing company, due in semi-annual installments plus
interest at 5.78% to 6.23% through 2019, secured by aircraft 93,327 —
Notes payable to banks, due in monthly installments plus
interest of 6.05% to 7.38% through 2020, secured by aircraft 31,406 36,867
Notes payable to banks, due in semi-annual installments, plus
interest at 3.72% to 3.86%, net of the benefits of interest
rate subsidies through the Brazilian Export financing
program, through 2011, secured by aircraft 13,546 15,897
Notes payable to a bank, due in monthly installments interest based on
LIBOR through 2012, interest rate at 7.9% secured by building 7,411 7,865
Other notes payable, secured by aircraft — 750
Notes payable to banks, due in quarterly installments,
interest based on LIBOR plus 0.75% through 2019, secured by aircraft — 56,193
Long-term debt $ 1,753,903 $ 495,818
Less current maturities (331,145) (32,585)
Long-term debt, net of current maturities $ 1,422,758 $ 463,233
At December 31, 2005, the three-month and six-month LIBOR rates were 4.54% and 4.70%, respectively.