Southwest Airlines 2008 Annual Report Download - page 64
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SOUTHWEST AIRLINES CO.
CONSOLIDATED STATEMENT OF INCOME
Years Ended December 31,
2008 2007 2006
(In millions, except
per share amounts)
OPERATING REVENUES:
Passenger ................................................. $10,549 $9,457 $8,750
Freight .................................................... 145 130 134
Other ..................................................... 329 274 202
Total operating revenues .................................... 11,023 9,861 9,086
OPERATING EXPENSES:
Salaries, wages, and benefits .................................. 3,340 3,213 3,052
Fuel and oil ................................................ 3,713 2,690 2,284
Maintenance materials and repairs .............................. 721 616 468
Aircraft rentals ............................................. 154 156 158
Landing fees and other rentals ................................. 662 560 495
Depreciation and amortization ................................. 599 555 515
Other operating expenses ..................................... 1,385 1,280 1,180
Total operating expenses ................................... 10,574 9,070 8,152
OPERATING INCOME ...................................... 449 791 934
OTHER EXPENSES (INCOME):
Interest expense ............................................. 130 119 128
Capitalized interest .......................................... (25) (50) (51)
Interest income ............................................. (26) (44) (84)
Other (gains) losses, net ...................................... 92 (292) 151
Total other expenses (income) ............................... 171 (267) 144
INCOME BEFORE INCOME TAXES .......................... 278 1,058 790
PROVISION FOR INCOME TAXES ........................... 100 413 291
NET INCOME .............................................. $ 178 $ 645 $ 499
NET INCOME PER SHARE, BASIC ........................... $ .24 $ .85 $ .63
NET INCOME PER SHARE, DILUTED ......................... $ .24 $ .84 $ .61
See accompanying notes.
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