Alaska Airlines and Horizon Air 2014 Annual Report Download - page 121
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‰It is useful to monitor performance without these items as it improves a reader’s ability to
compare our results to those of other airlines.
Although we are presenting these non-GAAP amounts for the reasons above, investors and other
readers should not necessarily conclude that these amounts are non-recurring, infrequent, or unusual in
nature.
Excluding the impact of mark-to-market fuel hedge adjustments, special items, and the one-time Special
mileage plan revenue item, our adjusted consolidated net income for 2014 was $571 million, or $4.18
per diluted share, compared to an adjusted consolidated net income of $383 million, or $2.70 per
share, in 2013.
Twelve Months Ended December 31,
2014 2013
(in millions, except per-share amounts) Dollars Diluted EPS Dollars Diluted EPS
Net income and diluted EPS as reported $ 605 $ 4.42 $ 508 $ 3.58
Mark-to-market fuel hedge adjustments, net
of tax (15) (0.11) (5) (0.03)
Special items, net of tax (19) (0.14) ––
Special mileage plan revenue, net of tax ––(120) (0.85)
Non-GAAP adjusted income and per-share
amounts $ 571 $ 4.18 $ 383 $ 2.70
Revenues adjusted for the one-time Special mileage plan item are as follows:
Twelve Months Ended December 31,
2014 2013 % Change
Total operating revenues $ 5,368 $ 5,156 4.1
Less: Special mileage plan revenue –192 NM
Adjusted Revenue $ 5,368 $ 4,964 8.1
Consolidated ASMs 36,078 33,672 7.1
RASM 14.88¢ 14.74¢ 0.9
NM - Not Meaningful
37
ŠForm 10-K