US Airways 2006 Annual Report Download - page 82

Table of Contents
US Airways Group, Inc.
Consolidated Statements of Operations
For the Years Ended December 31, 2006, 2005 and 2004
2006 2005 2004
(In millions, except share and
per share amounts)
Operating revenues:
Mainline passenger $ 7,966 $ 3,695 $ 2,203
Express passenger 2,744 976 353
Cargo 153 58 28
Other 694 340 173
Total operating revenues 11,557 5,069 2,757
Operating expenses:
Aircraft fuel and related taxes 2,518 1,214 590
Loss (gain) on fuel hedging instruments, net 79 (75) (24)
Salaries and related costs 2,090 1,046 657
Express expenses 2,559 1,073 374
Aircraft rent 732 429 304
Aircraft maintenance 582 349 206
Other rent and landing fees 568 281 168
Selling expenses 446 232 153
Special items, net 27 121 (16)
Depreciation and amortization 175 88 54
Other 1,223 528 311
Total operating expenses 10,999 5,286 2,777
Operating income (loss) 558 (217) (20)
Nonoperating income (expense):
Interest income 153 30 8
Interest expense, net (295) (147) (80)
Other, net (12) (1) 3
Total nonoperating expense, net (154) (118) (69)
Income (loss) before income taxes and cumulative effect of change in accounting principle 404 (335) (89)
Income tax provision 101 — —
Income (loss) before cumulative effect of change in accounting principle 303 (335) (89)
Cumulative effect of change in accounting principle (Note 3) 1 (202) —
Net income (loss) $ 304 $ (537) $ (89)
Unaudited pro forma net income (loss) (assuming change in method of accounting for maintenance costs was
applied retroactively) (Note 3) $ 303 $ (335) $ (142)
Earnings (loss) per common share:
Basic:
Before cumulative effect of change in accounting principle $ 3.50 $ (10.65) $ (5.99)
Cumulative effect of change in accounting principle 0.01 (6.41) —
Earnings (loss) per share $ 3.51 $ (17.06) $ (5.99)
Diluted:
Before cumulative effect of change in accounting principle $ 3.32 $ (10.65) $ (5.99)
Cumulative effect of change in accounting principle 0.01 (6.41) —
Earnings (loss) per share $ 3.33 $ (17.06) $ (5.99)
Shares used for computation (in thousands):
Basic 86,447 31,488 14,861
Diluted 93,821 31,488 14,861
See accompanying notes to consolidated financial statements.
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