US Airways 2006 Annual Report Download - page 221
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Table of Contents
US Airways, Inc.
Notes to the Financial Statements — (Continued)
17. Selected Quarterly Financial Information (unaudited)
Summarized quarterly financial information for 2006 and 2005 is as follows (in millions):
Successor Company
First Second Third Fourth
Quarter Quarter Quarter Quarter
2006
Operating revenues $ 1,802 $ 2,226 $ 2,084 $ 1,944
Operating expenses 1,759 1,946 1,960 1,799
Operating income 43 280 124 145
Nonoperating expenses, net (43) (33) (26) (16)
Income tax expense — 1 60 68
Net income — 246 38 61
Successor
Predecessor Company Company
First Second Third Fourth
Quarter Quarter Quarter Quarter
2005
Operating revenues $ 1,620 $ 1,951 $ 1,881 $ 1,755
Operating expenses 1,802 1,892 1,900 1,826
Operating income (loss) (182) 59 (19) (71)
Nonoperating income (expense), net (78) (105) 603 (49)
Income tax expense — 2 — —
Net income (loss) (260) (44) 584 (120)
The comparability of quarterly results in 2005 was impacted by the emergence from bankruptcy and merger with America West
Holdings in September 2005. See also Notes 2b and 3 for additional information related to the fresh-start reporting and special items.
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