SkyWest Airlines 2011 Annual Report Download - page 70

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SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND
COMPREHENSIVE INCOME (LOSS)
(In thousands)
Accumulated
Other
Common Stock Treasury Stock
Retained Comprehensive
Shares Amount Earnings Shares Amount Income (Loss) Total
Balance at December 31, 2008 ................. 73,520 $562,395 $ 977,736 (17,151) $(261,174) $(3,436) $1,275,521
Comprehensive income:
Net income .......................... — — 83,658 — — — 83,658
Proportionate share of other companies foreign
currency translation adjustment, net of tax $596 . . — — — — — 972 972
Net unrealized appreciation on marketable securities
net of tax of $2,158 ................... — — — — — 3,774 3,774
Total comprehensive income .............. 88,404
Exercise of common stock options and issuance of
restricted stock ....................... 271 215 — — — — 215
Sale of common stock under employee stock purchase
plan .............................. 836 8,572 — — — — 8,572
Stock based compensation expense related to the
issuance of stock options .................. — 7,944 — — — — 7,944
Tax deficiency from exercise of common stock options . — (973) — — — — (973)
Treasury stock purchases ................... — — — (1,867) (18,445) — (18,445)
Cash dividends declared ($0.16 per share) ........ — — (9,019) — — — (9,019)
Balance at December 31, 2009 ................. 74,627 $578,153 $1,052,375 (19,018) $(279,619) $ 1,310 $1,352,219
Comprehensive income:
Net income .......................... — — 96,350 — — — 96,350
Proportionate share of other companies foreign
currency translation adjustment, net of tax $390 . . — — — — — 637 637
Net unrealized depreciation on marketable securities
net of tax of $457 .................... — — — — — (745) (745)
Total comprehensive income .............. — — — — — — 96,242
Exercise of common stock options and issuance of
restricted stock ....................... 261 83 — — — — 83
Sale of common stock under employee stock purchase
plan .............................. 357 4,824 — — — — 4,824
Stock based compensation expense related to the
issuance of stock options .................. — 6,428 — — — — 6,428
Tax benefit from exercise of common stock options . . . — 122 — — — — 122
Treasury stock purchases ................... — — — (2,054) (30,009) — (30,009)
Cash dividends declared ($0.16 per share) ........ — — (8,986) — — — (8,986)
Balance at December 31, 2010 ................. 75,245 589,610 1,139,739 (21,072) (309,628) 1,202 1,420,923
Comprehensive loss:
Net loss ............................ — — (27,335) — — — (27,335)
Proportionate share of other companies foreign
currency translation adjustment, net of tax $180 . . — — — — — (295) (295)
Net unrealized appreciation on marketable securities,
net of tax of $327 .................... — — — — — 534 534
Total comprehensive loss ................ — — — — — — (27,096)
Exercise of common stock options and issuance of
restricted stock ....................... 289 70 — — — — 70
Sale of common stock under employee stock purchase
plan .............................. 300 4,372 — — — — 4,372
Stock based compensation expense related to the
issuance of stock options .................. — 5,365 — — — — 5,365
Tax deficiency from exercise of common stock options . — (432) — — — — (432)
Treasury stock purchases ................... — — — (4,149) (60,681) — (60,681)
Cash dividends declared ($0.16 per share) ........ — — (8,260) — — — (8,260)
Balance at December 31, 2011 ................. 75,834 598,985 1,104,144 (25,221) (370,309) 1,441 1,334,261
See accompanying notes to consolidated financial statements.
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