US Airways 2005 Annual Report Download - page 103

Table of Contents
US Airways Group, Inc.
Consolidated Statements of Operations
For the Years Ended December 31, 2005, 2004 and 2003
(in millions, except share and per share data)
2005 2004 2003
Operating revenues:
Mainline passenger $ 3,695 $ 2,203 $ 2,118
Express passenger 976 353 268
Cargo 58 28 27
Other 348 164 159
Total operating revenues 5,077 2,748 2,572
Operating expenses:
Aircraft fuel and related taxes 1,214 590 404
Gain on fuel hedging instruments, net (75) (24) (11)
Salaries and related costs 1,045 657 660
Express expenses 1,073 374 287
Aircraft rent 429 304 298
Aircraft maintenance 344 206 223
Other rents and landing fees 267 168 155
Selling expenses 231 153 156
Special charges (credits), net 121 (16) 14
Depreciation and amortization 88 54 67
Other 557 302 286
Total operating expenses 5,294 2,768 2,539
Operating income (loss) (217) (20) 33
Nonoperating income (expenses):
Interest income 30 8 6
Interest expense, net (147) (80) (80)
Federal government assistance — — 81
Other, net (1) 3 17
Total nonoperating income (expenses), net (118) (69) 24
Income (loss) before income taxes and cumulative effect of change in accounting principle (335) (89) 57
Income taxes — — —
Income (loss) before cumulative effect of change in accounting principle (335) (89) 57
Cumulative effect of change in accounting principle (Note 4) 202 — —
Net income (loss) $ (537) $ (89) $ 57
Unaudited pro forma net income (loss) (assuming change in method of accounting was applied retroactively) (Note 4) (335) $ (142) $ 52
Earnings (loss) per common share:
Basic:
Before cumulative effect of change in accounting principle $ (10.65) $ (5.99) $ 4.03
Cumulative effect of change in accounting principle (6.41) — —
Earnings (loss) per share $ (17.06) $ (5.99) $ 4.03
Diluted:
Before cumulative effect of change in accounting principle $ (10.65) $ (5.99) $ 3.07
Cumulative effect of change in accounting principle (6.41) — —
Earnings (loss) per share $ (17.06) $ (5.99) $ 3.07
Shares used for computation (in thousands):
Basic 31,488 14,861 14,252
Diluted 31,488 14,861 23,147
See accompanying notes to consolidated financial statements.
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