SkyWest Airlines 2012 Annual Report Download - page 73
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SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In thousands, except per share amounts)
Year Ended December 31,
2012 2011 2010
OPERATING REVENUES:
Passenger ....................................... $3,467,546 $3,584,777 $2,724,276
Ground handling and other .......................... 66,826 70,146 40,869
Total operating revenues .......................... 3,534,372 3,654,923 2,765,145
OPERATING EXPENSES:
Salaries, wages and benefits ......................... 1,171,689 1,155,051 764,933
Aircraft maintenance, materials and repairs .............. 659,869 712,926 487,466
Aircraft fuel ..................................... 426,387 592,871 340,074
Aircraft rentals ................................... 333,637 346,526 311,909
Depreciation and amortization ....................... 251,958 254,182 236,499
Station rentals and landing fees ....................... 169,855 174,838 129,537
Ground handling services ........................... 125,148 131,462 110,649
Acquisition related costs ............................ — 5,770 8,815
Other, net ...................................... 229,842 240,192 173,437
Total operating expenses .......................... 3,368,385 3,613,818 2,563,319
OPERATING INCOME ............................. 165,987 41,105 201,826
OTHER INCOME (EXPENSE):
Interest income .................................. 7,928 8,236 14,376
Interest expense .................................. (77,380) (80,383) (86,517)
Purchase accounting gain (adjustment) ................. — (5,711) 15,586
Other, net ...................................... (10,639) (13,417) 630
Total other expense, net .......................... (80,091) (91,275) (55,925)
INCOME (LOSS) BEFORE INCOME TAXES ............ 85,896 (50,170) 145,901
PROVISION (BENEFIT) FOR INCOME TAXES .......... 34,739 (22,835) 49,551
NET INCOME (LOSS) .............................. $ 51,157 $ (27,335) $ 96,350
BASIC EARNINGS (LOSS) PER SHARE ................ $ 1.00 $ (0.52) $ 1.73
DILUTED EARNINGS (LOSS) PER SHARE ............. $ 0.99 $ (0.52) $ 1.70
Weighted average common shares:
Basic .......................................... 51,090 52,201 55,610
Diluted ........................................ 51,746 52,201 56,526
COMPREHENSIVE INCOME (LOSS):
Net income (loss) ................................. $ 51,157 $ (27,335) $ 96,350
Proportionate share of other companies foreign currency
translation adjustment, net of taxes .................. (251) (295) 637
Net unrealized appreciation (depreciation) on marketable
securities, net of taxes ............................ 316 534 (745)
TOTAL COMPREHENSIVE INCOME (LOSS) ............ $ 51,222 $ (27,096) $ 96,242
See accompanying notes to consolidated financial statements.
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