SkyWest Airlines 2008 Annual Report Download - page 61

Download and view the complete annual report

Please find page 61 of the 2008 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 152

  • 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
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND
COMPREHENSIVE INCOME
(In thousands)
Accumulated
Other
Common Stock Treasury Stock
Retained Comprehensive
Shares Amount Earnings Shares Amount Loss Total
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
Comprehensive income:
Net income ..................... — — 112,929 — — — 112,929
Net unrealized depreciation on marketable
securities net of tax of $1,573 ........ — — — — — (2,566) (2,566)
Total comprehensive income ........ 110,363
Exercise of common stock options ....... 439 6,135 — — — — 6,135
Sale of common stock under employee stock
purchase plan ................... 808 11,227 — — — — 11,227
Stock based compensation expense related
to the issuance of stock options and the
employee stock purchase plan ......... — 11,489 — — — — 11,489
Tax benefit from exercise of common stock
options ........................ — (1) — — — — (1)
Treasury stock purchases .............. — — — (5,357) (102,632) — (102,632)
Cash dividends declared ($0.13 per share) . . — — (7,067) — — — (7,067)
Balance at December 31, 2008 ........... 73,520 $562,395 $977,736 (17,151) $(261,174) $(3,436) $1,275,521
See accompanying notes to consolidated financial statements.
57