SkyWest Airlines 2007 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2007 SkyWest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

41
SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
LIABILITIES AND STOCKHOLDERS’ EQUITY
December 31,
2007
December 31,
2006
CURRENT LIABILITIES:
Current maturities of long-term debt ........................................................................................... $118,202 $108,505
Accounts payable......................................................................................................................... 133,728 156,831
Accrued salaries, wages and benefits........................................................................................... 67,242 64,451
Accrued aircraft rents................................................................................................................... 26,516 24,073
Taxes other than income taxes..................................................................................................... 12,433 16,882
Other current liabilities ................................................................................................................ 40,098 37,689
Total current liabilities .............................................................................................................. 398,219 408,431
OTHER LONG TERM LIABILITIES ........................................................................................... 40,355 35,405
LONG TERM DEBT, net of current maturities ............................................................................. 1,732,748 1,675,626
DEFERRED INCOME TAXES PAYABLE.................................................................................. 445,993 327,384
DEFERRED AIRCRAFT CREDITS ............................................................................................. 127,203 106,280
COMMITMENTS AND CONTINGENCES (Note 4)
STOCKHOLDERS’ EQUITY:
Preferred stock, 5,000,000 shares authorized; none issued.......................................................... — —
Common stock, no par value, 120,000,000 shares authorized; 72,272,671 and 70,752,674
shares issued, respectively ........................................................................................................ 533,545 491,405
Retained earnings......................................................................................................................... 871,874 720,784
Treasury stock, at cost, 11,794,056 and 6,794,056 shares, respectively...................................... (158,542) (32,551)
Accumulated other comprehensive loss (Note 1) ........................................................................ (870) (1,345)
Total Stockholders’ Equity ....................................................................................................... 1,246,007 1,178,293
Total liabilities and stockholders’ equity .................................................................................. $3,990,525 $3,731,419
See accompanying notes to consolidated financial statements.