SkyWest Airlines 2007 Annual Report Download - page 44

43
SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND COMPREHENSIVE INCOME
(In thousands)
Common Stock Treasury Stock
Shares Amount
Retained
Earnings Shares Amount
Accumulated Other
Comprehensive
Loss Total
Balance at December 31, 2004.......................................... 64,443 $335,241 $477,424 (6,794) $(32,551) $(1,059) $779,055
Comprehensive income:
Net income ................................................................. — — 112,267 — — — 112,267
Net unrealized depreciation on marketable
securities net of tax of $219 ................................... — — — — — (347) (347)
Total comprehensive income ................................. 111,920
Exercise of common stock options................................ 892 19,073 — — — — 19,073
Sale of common stock under employee stock purchase
plan ............................................................................. 175 2,712 — — — — 2,712
Tax benefit from exercise of common stock Options ... — 7,509 — — — — 7,509
Cash dividends declared ($0.12 per share).................... ——(7,071) — — — (7,071)
Balance at December 31, 2005.......................................... 65,510 $364,535 $582,620 (6,794) $(32,551) $(1,406) $913,198
Comprehensive income:
Net income ................................................................. — — 145,806 — — — 145,806
Net unrealized appreciation on marketable
securities net of tax of $40 ..................................... ———— — 61 61
Total comprehensive income ................................. 145,867
Sale of common stock, net of offering costs and
underwriting discount of $8,864................................ 4,000 95,336 — — — — 95,336
Exercise of common stock options................................ 1,082 16,210 — — — — 16,210
Sale of common stock under employee stock purchase
plan ............................................................................. 161 3,402 — — — — 3,402
Stock based compensation expense related to the
issuance of stock options and the employee stock
purchase plan.............................................................. — 10,771 — — — — 10,771
Tax benefit from exercise of common stock Options ... — 1,151 — — — — 1,151
Cash dividends declared ($0.12 per share).................... ——(7,642) — — — (7,642)
Balance at December 31, 2006.......................................... 70,753 $491,405 $720,784 (6,794) $(32,551) $(1,345) $1,178,293
Comprehensive income:
Net income ................................................................. — — 159,192 — — — 159,192
Net unrealized appreciation on marketable
securities net of tax of $304 ................................... ———— — 475 475
Total comprehensive income ................................. 159,667
Exercise of common stock options................................ 1,066 19,572 — — — — 19,572
Sale of common stock under employee stock purchase
plan ............................................................................. 454 9,378 — — — — 9,378
Stock based compensation expense related to the
issuance of stock options and the employee stock
purchase plan.............................................................. — 13,121 — — — — 13,121
Tax benefit from exercise of common stock options .... — 69 — — — — 69
Treasury stock purchases............................................... — — — (5,000) (125,991) — (125,991)
Cash dividends declared ($0.12 per share).................... ——(8,102) — — — (8,102)
Balance at December 31, 2007.......................................... 72,273 $533,545 $871,874 (11,794) $(158,542) $(870) $1,246,007
See accompanying notes to consolidated financial statements.