Spirit Airlines 2011 Annual Report Download - page 73

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Spirit Airlines, Inc.
Statements of Operations
(In thousands, except per share data)
See accompanying Notes to Financial Statements.
65
Years Ended December 31,
2011
2010
2009
Operating revenues:
Passenger
$
689,650
$
537,969
$
536,181
Non-ticket
381,536
243,296
163,856
Total operating revenue
1,071,186
781,265
700,037
Operating expenses:
Aircraft fuel
388,046
248,206
181,107
Salaries, wages and benefits
181,742
156,443
135,420
Aircraft rent
116,485
101,345
89,974
Landing fees and other rents
52,794
48,118
42,061
Distribution
51,349
41,179
34,067
Maintenance, materials and repairs
35,553
28,189
27,536
Depreciation and amortization
7,760
5,620
4,924
Other operating
89,636
82,594
72,921
Loss on disposal of assets
255
77
1,010
Special charges
3,184
621
(392
)
Total operating expenses
926,804
712,392
588,628
Operating income
144,382
68,873
111,409
Other expense (income):
Interest expense
24,781
50,313
46,892
Capitalized interest
(2,890
)
(1,491
)
(951
)
Interest income
(575
)
(328
)
(345
)
Gain on extinguishment of debt —
—
(
19,711
)
Other expense
235
194
298
Total other expense (income)
21,551
48,688
26,183
Income before income taxes
122,831
20,185
85,226
Provision (benefit) for income taxes
46,383
(52,296
)
1,533
Net income
$
76,448
$
72,481
$
83,693
Net income per share, basic
$
1.44
$
2.77
$
3.23
Net income per share, diluted
$
1.43
$
2.72
$
3.18