SkyWest Airlines 2014 Annual Report Download - page 71
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SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In thousands, except per share amounts)
Year Ended December 31,
2014 2013 2012
OPERATING REVENUES:
Passenger ....................................... $3,168,000 $3,239,525 $3,467,546
Ground handling and other .......................... 69,447 58,200 66,826
Total operating revenues .......................... 3,237,447 3,297,725 3,534,372
OPERATING EXPENSES:
Salaries, wages and benefits ......................... 1,258,155 1,211,307 1,171,689
Aircraft maintenance, materials and repairs .............. 682,773 686,381 659,869
Aircraft rentals ................................... 305,334 325,360 333,637
Depreciation and amortization ....................... 259,642 245,005 251,958
Aircraft fuel ..................................... 193,247 193,513 426,387
Ground handling services ........................... 123,917 129,119 125,148
Special items .................................... 74,777 — —
Station rentals and landing fees ....................... 51,024 114,688 169,855
Other, net ...................................... 263,730 239,241 229,842
Total operating expenses .......................... 3,212,599 3,144,614 3,368,385
OPERATING INCOME ............................. 24,848 153,111 165,987
OTHER INCOME (EXPENSE):
Interest income .................................. 4,096 3,689 7,928
Interest expense .................................. (65,995) (68,658) (77,380)
Other, net ...................................... 20,708 10,390 (10,639)
Total other expense, net .......................... (41,191) (54,579) (80,091)
INCOME (LOSS) BEFORE INCOME TAXES ............ (16,343) 98,532 85,896
PROVISION FOR INCOME TAXES .................... 7,811 39,576 34,739
NET INCOME (LOSS) .............................. $ (24,154) $ 58,956 $ 51,157
BASIC EARNINGS (LOSS) PER SHARE ................ $ (0.47) $ 1.14 $ 1.00
DILUTED EARNINGS (LOSS) PER SHARE ............. $ (0.47) $ 1.12 $ 0.99
Weighted average common shares:
Basic .......................................... 51,237 51,688 51,090
Diluted ........................................ 51,237 52,422 51,746
COMPREHENSIVE INCOME (LOSS):
Net income (loss) ................................. $ (24,154) $ 58,956 $ 51,157
Proportionate share of other companies foreign currency
translation adjustment, net of taxes .................. (1,129) 66 (251)
Net unrealized appreciation (depreciation) on marketable
securities, net of taxes ............................ (719) (13) 316
TOTAL COMPREHENSIVE INCOME (LOSS) ............ $ (26,002) $ 59,009 $ 51,222
See accompanying notes to consolidated financial statements.
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