Alaska Airlines and Horizon Air 2009 Annual Report Download - page 99

Horizon Air ........................................... 40
Consolidated Nonoperating Income (Expense) ................ 44
Consolidated Income Tax Expense (Benefit) ................. 44
2008 COMPARED WITH 2007 ................................ 44
Alaska Airlines ........................................ 44
Horizon Air ........................................... 48
Consolidated Nonoperating Income (Expense) ................ 50
Consolidated Income Tax Expense (Benefit) ................. 50
CRITICAL ACCOUNTING ESTIMATES ............................... 50
PROSPECTIVE ACCOUNTING PRONOUNCEMENTS .................... 53
LIQUIDITY AND CAPITAL RESOURCES .............................. 53
ANALYSIS OF OUR CASH FLOWS .............................. 54
CONTRACTUAL OBLIGATIONS, COMMITMENTS AND OFF-BALANCE
SHEET ARRANGEMENTS .................................. 55
EFFECT OF INFLATION AND PRICE CHANGES .................... 56
RETURN ON INVESTED CAPITAL .............................. 56
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK ........ 57
MARKET RISK – AIRCRAFT FUEL .................................. 57
FINANCIAL MARKET RISK ....................................... 57
ITEM 8. CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ....... 58
SELECTED QUARTERLY CONSOLIDATED FINANCIAL INFORMATION ....... 58
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ..... 59
CONSOLIDATED BALANCE SHEETS ............................... 60
CONSOLIDATED STATEMENTS OF OPERATIONS ...................... 62
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY ............ 63
CONSOLIDATED STATEMENTS OF CASH FLOWS ..................... 65
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS .................. 66
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE ...................................... 93
ITEM 9A. CONTROLS AND PROCEDURES ...................................... 93
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES .......... 93
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING ......... 93
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL
REPORTING ................................................ 93
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ..... 94
ITEM 9B. OTHER INFORMATION ............................................. 95
PART III ........................................................................ 96
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE ......... 96
ITEM 11. EXECUTIVE COMPENSATION ........................................ 96
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT, AND RELATED STOCKHOLDER MATTERS ................ 96
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE ................................................ 96
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES .......................... 96
PART IV ........................................................................ 97
ITEM 15. EXHIBITS, CONSOLIDATED FINANCIAL STATEMENT SCHEDULES ............ 97
SIGNATURES ............................................................... 98
As used in this Form 10-K, the terms “Air Group,” “our,” “we” and the “Company” refer to Alaska Air
Group, Inc. and its subsidiaries, unless the context indicates otherwise. Alaska Airlines, Inc. and
Horizon Air Industries, Inc. are referred to as “Alaska” and “Horizon,” respectively, and together as our
“airlines.”
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ŠForm 10-K