Alaska Airlines and Horizon Air 2013 Annual Report Download - page 113

ITEM 6. SELECTED FINANCIAL AND OPERATING DATA
2013 2012 2011 2010 2009
CONSOLIDATED OPERATING RESULTS (audited)
Year Ended December 31 (in millions, except per-share
amounts):
Operating Revenues (a) ............................ 5,156 4,657 4,318 3,832 3,400
Operating Expenses ............................... 4,318 4,125 3,869 3,361 3,133
Operating Income ................................. 838 532 449 471 267
Nonoperating expense, net of interest capitalized (b) ..... (22) (18) (55) (65) (64)
Income before income tax .......................... 816 514 394 406 203
Net Income ...................................... 508 316 245 251 122
Average basic shares outstanding .................... 69.955 70.708 71.755 71.644 71.630
Average diluted shares outstanding ................... 70.939 71.784 73.421 73.571 72.308
Basic earnings per share ........................... 7.26 4.47 3.41 3.50 1.70
Diluted earnings per share .......................... 7.16 4.40 3.33 3.41 1.69
Cash dividend declared per share .................... $ 0.40 ————
CONSOLIDATED FINANCIAL POSITION (audited)
At End of Period (in millions):
Total assets ..................................... 5,838 5,505 5,167 5,017 4,996
Long-term debt, including current portion .............. 871 1,032 1,307 1,534 1,855
Shareholders' equity .............................. 2,029 1,421 1,174 1,106 872
OPERATING STATISTICS (unaudited)
Consolidated: (c)
Revenue passengers (000) ......................... 27,414 25,896 24,790 23,334 22,320
Revenue passenger miles (RPM) (000,000) “traffic” ..... 28,833 27,007 25,032 22,841 20,811
Available seat miles (ASM) (000,000) “capacity” ........ 33,672 31,428 29,627 27,736 26,501
Load factor ...................................... 85.6% 85.9% 84.5% 82.4% 78.5%
Yield ........................................... 14.80¢ 14.92¢ 14.81¢ 14.30¢ 14.16¢
Passenger revenues per ASM (PRASM) ................ 12.67¢ 12.82¢ 12.51¢ 11.78¢ 11.12¢
Operating revenues per ASM (RASM) (d) ............... 14.74¢ 14.82¢ 14.57¢ 13.82¢ 12.83¢
Operating expenses per ASM, excluding fuel and noted
items (CASMex) (d) .............................. 8.47¢ 8.48¢ 8.55¢ 8.82¢ 9.20¢
Mainline:
Revenue passengers (000) ......................... 19,737 18,526 17,810 16,514 15,561
RPMs (000,000) “traffic” ........................... 26,172 24,417 22,586 20,350 18,362
ASMs (000,000) “capacity” ......................... 30,411 28,180 26,517 24,434 23,144
Load factor ...................................... 86.1% 86.6% 85.2% 83.3% 79.3%
Yield ........................................... 13.33¢ 13.45¢ 13.26¢ 12.75¢ 12.60¢
PRASM ......................................... 11.48¢ 11.65¢ 11.29¢ 10.62¢ 10.00¢
CASMex (d) ..................................... 7.54¢ 7.56¢ 7.60¢ 7.85¢ 8.26¢
Regional:
Revenue passengers (000) ......................... 7,677 7,371 6,980 6,820 6,759
RPMs (000,000) “traffic” ........................... 2,661 2,590 2,446 2,491 2,449
ASMs (000,000) “capacity” ......................... 3,261 3,247 3,110 3,302 3,357
Load factor ...................................... 81.6% 79.8% 78.6% 75.4% 73.0%
Yield ........................................... 29.20¢ 28.81¢ 29.13¢ 26.95¢ 25.88¢
PRASM ......................................... 23.83¢ 22.98¢ 22.94¢ 20.33¢ 18.88¢
(a) In the third quarter the Company adopted Accounting Standards Update 2009-13, “Multiple-Deliverable Revenue
Arrangements—a consensus of the FASB Emerging Issues Task Force” (ASU 2009-13). Refer to Note 2 of the consolidated
financial statements for further details.
(b) Includes capitalized interest of $21 million, $18 million, $12 million, $6 million, and $8 million for 2013, 2012, 2011, 2010,
and 2009, respectively.
(c) Includes flights operated by SkyWest beginning in May 2011 and flights operated by PenAir under Capacity Purchase
Agreements (CPA).
(d) See reconciliation of RASM and CASMex to the most directly related GAAP measure in the “Results of Operations” section.
27
ŠForm 10-K