SkyWest Airlines 2015 Annual Report Download - page 63

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59
SKYWEST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In thousands, except per share amounts)
Year Ended December 31,
2015 2014 2013
OPERATING REVENUES:
Passenger ................................................. $ 3,030,023 $ 3,168,000 $ 3,239,525
Ground handling and other .................................. 65,540 69,447 58,200
Total operating revenues ................................... 3,095,563 3,237,447 3,297,725
OPERATING EXPENSES:
Salaries, wages and benefits ................................. 1,203,312 1,258,155 1,211,307
Aircraft maintenance, materials and repairs ..................... 604,863 682,773 686,381
Aircraft rentals ............................................ 273,696 305,334 325,360
Depreciation and amortization ................................ 264,507 259,642 245,005
Aircraft fuel ............................................... 118,124 193,247 193,513
Ground handling services ................................... 82,694 123,917 129,119
Special items .............................................. — 74,777 —
Station rentals and landing fees ............................... 54,167 51,024 114,688
Other, net ................................................. 259,685 263,730 239,241
Total operating expenses ................................... 2,861,048 3,212,599 3,144,614
OPERATING INCOME ....................................... 234,515 24,848 153,111
OTHER INCOME (EXPENSE):
Interest income ............................................ 1,997 4,096 3,689
Interest expense ........................................... (75,850) (65,995) (68,658)
Other, net ................................................. 33,660 20,708 10,390
Total other expense, net .................................... (40,193) (41,191) (54,579)
INCOME (LOSS) BEFORE INCOME TAXES .................... 194,322 (16,343) 98,532
PROVISION FOR INCOME TAXES ............................ 76,505 7,811 39,576
N
ET INCOME (LOSS) ........................................ $ 117,817 $ (24,154) $ 58,956
BASIC EARNINGS (LOSS) PER SHARE ....................... $ 2.31 $ (0.47) $ 1.14
DILUTED EARNINGS (LOSS) PER SHARE ..................... $ 2.27 $ (0.47) $ 1.12
Weighted average common shares:
Basic .................................................... 51,077 51,237 51,688
Diluted ................................................... 51,825 51,237 52,422
COMPREHENSIVE INCOME (LOSS):
Net income (loss) .......................................... $ 117,817 $ (24,154) $ 58,956
Proportionate share of equity method investee foreign currency
translation adjustment, net of taxes ............................ — (1,129) 66
Net unrealized appreciation (depreciation) on marketable securities,
net of taxes ............................................... 29 (719) (13)
TOTAL COMPREHENSIVE INCOME (LOSS) ................... $ 117,846 $ (26,002) $ 59,009
See accompanying notes to consolidated financial statements.