SkyWest Airlines 2013 Annual Report Download - page 70

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SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In thousands, except per share amounts)
Year Ended December 31,
2013 2012 2011
OPERATING REVENUES:
Passenger ....................................... $3,239,525 $3,467,546 $3,584,777
Ground handling and other .......................... 58,200 66,826 70,146
Total operating revenues .......................... 3,297,725 3,534,372 3,654,923
OPERATING EXPENSES:
Salaries, wages and benefits ......................... 1,211,307 1,171,689 1,155,051
Aircraft maintenance, materials and repairs .............. 686,381 659,869 712,926
Aircraft rentals ................................... 325,360 333,637 346,526
Depreciation and amortization ....................... 245,005 251,958 254,182
Aircraft fuel ..................................... 193,513 426,387 592,871
Station rentals and landing fees ....................... 114,688 169,855 174,838
Ground handling services ........................... 129,119 125,148 131,462
Acquisition related costs ............................ ——5,770
Other, net ...................................... 239,241 229,842 240,192
Total operating expenses .......................... 3,144,614 3,368,385 3,613,818
OPERATING INCOME ............................. 153,111 165,987 41,105
OTHER INCOME (EXPENSE):
Interest income .................................. 3,689 7,928 8,236
Interest expense .................................. (68,658) (77,380) (80,383)
Purchase accounting adjustment ...................... ——(5,711)
Other, net ...................................... 10,390 (10,639) (13,417)
Total other expense, net .......................... (54,579) (80,091) (91,275)
INCOME (LOSS) BEFORE INCOME TAXES ............ 98,532 85,896 (50,170)
PROVISION (BENEFIT) FOR INCOME TAXES .......... 39,576 34,739 (22,835)
NET INCOME (LOSS) .............................. $ 58,956 $ 51,157 $ (27,335)
BASIC EARNINGS (LOSS) PER SHARE ................ $ 1.14 $ 1.00 $ (0.52)
DILUTED EARNINGS (LOSS) PER SHARE ............. $ 1.12 $ 0.99 $ (0.52)
Weighted average common shares:
Basic .......................................... 51,688 51,090 52,201
Diluted ........................................ 52,422 51,746 52,201
COMPREHENSIVE INCOME (LOSS):
Net income (loss) ................................. $ 58,956 $ 51,157 $ (27,335)
Proportionate share of other companies foreign currency
translation adjustment, net of taxes .................. 66 (251) (295)
Net unrealized appreciation (depreciation) on marketable
securities, net of taxes ............................ (13) 316 534
TOTAL COMPREHENSIVE INCOME (LOSS) ............ $ 59,009 $ 51,222 $ (27,096)
See accompanying notes to consolidated financial statements.
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