US Airways 2007 Annual Report Download - page 34

Table of Contents
The 2004 period includes a $1 million gain at AWA on the disposition of property and equipment due principally to the sale of one
Boeing 737-200 aircraft and a $1 million charge for the write-off of debt issuance costs in connection with the refinancing of a
term loan.
The 2003 period includes federal government assistance of $81 million recognized as nonoperating income under the Emergency
Wartime Supplemental Appropriations Act.
(c) The 2006 period includes a $1 million benefit which represents the cumulative effect on the accumulated deficit of the adoption of
Statement of Financial Accounting Standards ("SFAS") No. 123R. The adjustment reflects the impact of estimating future
forfeitures for previously recognized compensation expense.
The 2005 period includes a $202 million adjustment which represents the cumulative effect on the accumulated deficit of the
adoption of the direct expense method of accounting for major scheduled airframe, engine and certain component overhaul costs
as of January 1, 2005. (See Part II, Item 8A, Note 3 "Change in Accounting Policy for Maintenance Costs").
(d) Includes debt, capital leases, postretirement benefits other than pensions and employee benefit liabilities and other.
Selected Consolidated Financial Data of US Airways, Inc.
The selected consolidated financial data presented below under the captions "Consolidated Statements of Operations Data" and
"Consolidated Balance Sheet Data" as of and for the years ended December 31, 2007, 2006, three months ended December 31, 2005, nine
months ended September 30, 2005, year ended December 31, 2004, nine months ended December 31, 2003 and three months ended
March 31, 2003 are derived from the audited consolidated financial statements of US Airways. In connection with the combination of all
mainline airline operations under one FAA operating certificate discussed further in Item 7, US Airways Group contributed 100% of its
equity interest in America West Holdings, the parent company of AWA, to US Airways. As a result, America West Holdings and AWA
are now wholly owned subsidiaries of US Airways. This contribution is reflected in the US Airways consolidated financial statements as
though the transfer had occurred at the time of US Airways' emergence from bankruptcy at the end of September 2005. Thus, the full
years 2007, 2006 and three months ended December 31, 2005 are comprised of the consolidated financial data of US Airways and
America West Holdings. For periods prior to September 30, 2005, the financial data reflects only the results of US Airways. The selected
consolidated financial data should be read in conjunction with the consolidated financial statements for the respective periods, the related
notes and the related reports of US Airways' independent registered public accounting firm.
Successor Company(a) Predecessor Company(a)
Three Months Nine Months Nine Months Three Months
Year Ended Year Ended Ended Ended Year Ended Ended Ended
December 31, December 31, December 31, September 30, December 31, December 31, March 31,
2007 2006 2005 2005 2004 2003 2003
(In millions)
Consolidated statements of operations data:
Operating revenues $ 11,813 $ 11,692 $ 2,589 $ 5,452 $ 7,068 $ 5,250 $ 1,512
Operating expenses(b) 11,289 11,135 2,772 5,594 7,416 5,292 1,714
Operating income (loss)(b) 524 557 (183) (142) (348) (42) (202)
Income (loss) before cumulative effect of change in
accounting principle(c) 478 348 (256) 280 (578) (160) 1,613
Cumulative effect of change in accounting principle,
net(d) — 1 — — — — —
Net income (loss) $ 478 $ 349 $ (256) $ 280 $ (578) $ (160) $ 1,613
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