US Airways 2004 Annual Report Download - page 47

Table of Contents
AMERICA WEST HOLDINGS CORPORATION
Consolidated Statements of Operations
For the Years Ended December 31, 2004, 2003 and 2002
(in thousands except per share data)
2004 2003 2002
Operating revenues:
Passenger $ 2,196,627 $ 2,113,629 $ 1,929,444
Cargo 28,233 26,914 27,574
Other 114,097 113,954 90,098
Total operating revenues 2,338,957 2,254,497 2,047,116
Operating expenses:
Salaries and related costs 656,462 660,299 603,657
Aircraft rents 304,343 297,518 295,016
Other rents and landing fees 167,772 154,598 158,290
Aircraft fuel 557,098 375,996 299,284
Agency commissions 25,191 34,457 49,953
Aircraft maintenance materials and repairs 205,580 223,266 252,691
Depreciation and amortization 54,354 66,865 75,201
Special charges (credits), net (15,432) 14,370 19,030
Other 427,360 404,993 453,418
Total operating expenses 2,382,728 2,232,362 2,206,540
Operating income (loss) (43,771) 22,135 (159,424)
Nonoperating income (expenses):
Interest income 7,597 6,262 10,549
Interest expense, net (79,608) (79,665) (72,442)
Federal government assistance — 81,255 8,466
Gain (loss) on disposition of property and equipment 1,460 151 (1,852)
Gain on sale of investments — 10,110 —
Gain (loss) on derivative instruments, net 23,782 10,746 (656)
Other, net 1,547 6,540 602
Total nonoperating income (expenses), net (45,222) 35,399 (55,333)
Income (loss) before income taxes (benefit) and cumulative effect of change in accounting principle (88,993) 57,534 (214,757)
Income tax expense (benefit) 30 114 (35,071)
Income (loss) before cumulative effect of change in accounting principle (89,023) 57,420 (179,686)
Cumulative effect of change in accounting principle — — (208,223)
Net income (loss) $ (89,023) $ 57,420 $ (387,909)
Basic earnings (loss) per share:
Earnings (loss) before cumulative effect of change in accounting principle $ (2.47) $ 1.66 $ (5.33)
Cumulative effect of change in accounting principle — — (6.17)
Basic earnings (loss) per share $ (2.47) $ 1.66 $ (11.50)
Diluted earnings (loss) per share:
Earnings (loss) before cumulative effect of change in accounting principle $ (2.47) $ 1.26 $ (5.33)
Cumulative effect of change in accounting principle — — (6.17)
Diluted earnings (loss) per share $ (2.47) $ 1.26 $ (11.50)
Shares used for computation:
Basic 36,026 34,551 33,723
Diluted 36,026 56,113 33,723
See accompanying notes to consolidated financial statements.
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