Alaska Airlines and Horizon Air 2014 Annual Report Download - page 131
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Excluding the mark-to-market fuel hedge adjustments, and the one-time Special mileage plan revenue
item, our adjusted consolidated net income for 2013 was $383 million, or $2.70 per diluted share,
compared to an adjusted consolidated net income of $339 million, or $2.37 per share, in 2012.
Twelve Months Ended December 31,
2013 2012
(in millions, except per-share amounts) Dollars Diluted EPS Dollars Diluted EPS
Net income and diluted EPS as reported $ 508 $ 3.58 $ 316 $ 2.20
Mark-to-market fuel hedge adjustments, net
of tax (5) (0.03) 23 0.17
Special mileage plan revenue (120) (0.85) ––
Non-GAAP adjusted income and per-share
amounts $ 383 $ 2.70 $ 339 $ 2.37
Revenues adjusted for the one-time Special mileage plan item is as follows:
Twelve Months Ended December 31,
2013 2013 % Change
Total operating revenues $ 5,156 $ 4,657 10.7
Less: Special mileage plan revenue 192 –NM
Adjusted Revenue $ 4,964 $ 4,657 6.6
Consolidated ASMs 33,672 31,428 7.1
RASM 14.74¢ 14.82¢ (0.5)
NM - Not meaningful
Our operating costs per ASM are summarized below:
Twelve Months Ended December 31,
2013 2012 % Change
Consolidated:
Total operating expenses per ASM (CASM) 12.82¢ 13.12¢ (2.3)
Less the following components:
Aircraft fuel, including hedging gains and losses 4.35 4.64 (6.3)
CASM, excluding fuel and fleet transition costs 8.47¢ 8.55¢ (0.9)
Mainline:
Total mainline operating expenses per ASM (CASM) 11.77¢ 12.09¢ (2.6)
Less the following components:
Aircraft fuel, including hedging gains and losses 4.23 4.53 (6.6)
CASM, excluding fuel 7.54¢ 7.56¢ (0.3)
NM - Not Meaningful
47
ŠForm 10-K