Airtran 2010 Annual Report Download - page 110

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Note 15 – Quarterly Financial Data (Unaudited)
Summarized quarterly financial data by quarter for 2010 and 2009 is as follows (in thousands, except per share data):
Three Months Ended
March 31 June 30 September 30 December 31
2010
Operating revenue $ 605,141 $ 700,557 $ 667,934 $ 645,540
Operating income 3,047 68,227 56,671 246
Other (income) expense 15,072 55,847 1,449 (4,021)
Income (loss) before income taxes (12,025) 12,380 55,222 4,267
Net income (loss) (12,025) 12,380 36,263 1,925
Earnings (loss) per common share:
Basic $ (0.09) $ 0.09 $ 0.27 $ 0.01
Diluted (0.09) 0.09 0.22 0.01
Included in other (income) expense:
Net (gains) losses on derivative financial instruments $ (6,877 ) $ 33,997 $ (15,264) $ (20,268)
2009
Operating revenue $ 541,955 $ 603,653 $ 597,402 $ 598,432
Operating income 47,707 66,166 37,033 26,104
Other (income) expense 19,000 (12,984) 26,374 9,281
Income (loss) before income taxes 28,707 79,150 10,659 16,823
Net income (loss) 28,707 78,438 10,426 17,091
Earnings (loss) per common share:
Basic $ 0.24 $ 0.65 $ 0.09 $ 0.13
Diluted 0.21 0.56 0.08 0.11
Included in operating income (loss):
(Gain) loss on asset dispositions $ 922 $ 2,384 $ (6,379) $ 109
Included in other (income) expense:
Net (gains) losses on derivative financial instruments $ (890 ) $ (27,335) $ 10,281 $ (12,680)
(Gain) loss on extinguishment of debt (322) (3,974) 18 •
During the three months ended September 30, 2010, our fuel tax expense was reduced by $10.1 million due to a refund of
fuel taxes paid between April 2007 and February 2009 and between January 2010 and June 2010. During the three months
ended December 31, 2010, we incurred $12.9 million of legal fees and other expenses in connection with both the
proposed acquisition of AirTran by Southwest Airlines and certain litigation.
During the three months ended December 31, 2009, we recorded a $2.4 million reduction in advertising expense to correct
overstatements of expense recorded in prior periods.
102