Alaska Airlines and Horizon Air 2012 Annual Report Download - page 149
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(ESPP), which features a look-back provision and
allows employees to purchase stock at a 15%
discount. All stock-based compensation expense
is recorded in wages and benefits in the
consolidated statements of operations.
Earnings Per Share (EPS)
Diluted EPS is calculated by dividing net income
by the average common shares outstanding plus
additional common shares that would have been
outstanding assuming the exercise of in-the-
money stock options and restricted stock units,
using the treasury-stock method. In 2012, 2011,
and 2010, antidilutive stock options excluded
from the calculation of EPS were not material.
NOTE 2. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
Components for cash, cash equivalents and marketable securities (in millions):
December 31, 2012 Cost Basis
Unrealized
Gains
Unrealized
Losses Fair Value
Cash ........................................... $ 28 $— $— $ 28
Cash equivalents ................................. 94 — — 94
Cash and cash equivalents ......................... 122 — — 122
U.S. government and agency securities ................ 271 1 — 272
Foreign government bonds .......................... 50 1 — 51
Asset-back securities .............................. 61 1 — 62
Mortgage-back securities ........................... 137 1 (1) 137
Corporate notes and bonds ......................... 577 8 — 585
Municipal securities ............................... 23 — — 23
Marketable securities ............................. 1,119 12 (1) 1,130
Total ....................................... $1,241 $ 12 $ (1) $1,252
December 31, 2011 Cost Basis
Unrealized
Gains
Unrealized
Losses Fair Value
Cash ........................................... $ 62 $— $— $ 62
Cash equivalents ................................. 40 — — 40
Cash and cash equivalents ......................... 102 — — 102
U.S. government and agency securities ................ 293 3 — 296
Foreign government bonds .......................... 24 1 — 25
Asset-back securities .............................. 58 — — 58
Mortgage-back securities ........................... 124 1 — 125
Corporate notes and bonds ......................... 519 7 (3) 523
Municipal securities ............................... 12 — — 12
Marketable securities ............................. 1,030 12 (3) 1,039
Total ....................................... $1,132 $ 12 $ (3) $1,141
Unrealized losses from fixed-income securities
are primarily attributable to changes in interest
rates. Management does not believe any
remaining unrealized losses represent other-
than-temporary impairments based on our
evaluation of available evidence as of
December 31, 2012.
61
ŠForm 10-K