Southwest Airlines 1995 Annual Report Download - page 41

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Ten Year Summary
Selected Consolidated Financial Data (1)
(in thousands except per share amounts) 1995 1994 1993 1992 1991 1990 1989
Operating revenues:
Passenger $2,760,756 $2,497,765 $1,144,421 $973,568 $1,267,897 $1,144,421
$973,568
Freight 65,825 54,419 42,897 33,088 26,428 22,196
18,771
Charter and other 46,170 39,749 37,434 146,063 84,961 70,659
65,390
Total operating revenues 2,872,751 2,591,933 2,296,673 1,802,979 1,379,286 1,237,276
1,057,729
Operating expenses 2,559,220 2,275,224 2,004,700 1,609,175 1,306,675 1,150,015
955,689
Operating income 313,531 316,709 291,973 193,804 72,611 87,261
102,040
Other expenses (income), net 8,391 17,186 32,336 36,361 18,725 (6,827) (6)
(13,696) (7)
Income before income taxes 305,140 299,523 259,637 157,443 53,886 80,434
115,736
Provision for income taxes (3) 122,514 120,192 105,353 60,058 20,738 29,829
41,231
Net income (3) $182,626 $179,331 $154,284 (4) $97,385 (5) $33,148 $50,605
$74,505
Income per common and
common equivalent share (3) $1.23 $1.22 $1.05 (4) $.68 (5) $.25 $.39
$.54
Cash dividends per common share $.04000 $.04000 $.03867 $.03533 $.03333 $.03223
$.03110
Total assets $3,256,122 $2,823,071 $2,576,037 $2,368,856 $1,854,331 $1,480,813
$1,423,298
Long-term debt $661,010 $583,071 $639,136 $735,754 $617,434 $327,553
$354,150
Stockholders’ equity $1,427,318 $1,238,706 $1,054,019 $879,536 $635,793 $607,294
$591,794
Consolidated Financial Ratios (1)
Return on average total assets 6.0% 6.6% 6.2% (4) 4.6% (5) 2.0% 3.5%
5.5%
Return on average stockholders’ equity 13.7% 15.6% 16.0% (4) 12.9% (5) 5.3% 8.4%
12.9%
Debt as a percentage of invested capital 31.7% 32.0% 37.7% 45.5% 49.3% 35.0%
37.4%
Consolidated Operating Statistics (2)
Revenue passengers carried 44,785,573 42,742,602 (12) 36,955,221 (12) 27,839,284 22,669,942 19,830,941
17,958,263
RPMs (000s) 23,327,804 21,611,266 18,827,288 13,787,005 11,296,183 9,958,940
9,281,992
ASMs (000s) 36,180,001 32,123,974 27,511,000 21,366,642 18,491,003 16,411,115
14,796,732
Load factor 64.5% 67.3% 68.4% 64.5% 61.1% 60.7%
62.7%
Average length of passenger haul 521 506 509 495 498 502
517
Trips flown 685,524 624,476 546,297 438,184 382,752 338,108
304,673
Average passenger fare $61.64 $58.44 $59.97 $58.33 $55.93 $57.71
$54.21
Passenger revenue yield per RPM 11.83¢ 11.56¢ 11.77¢ 11.78¢ 11.22¢ 11.49¢
10.49¢
Operating revenue yield per ASM 7.94¢ 8.07¢ 8.35¢ 7.89¢ 7.10¢ 7.23¢
6.86¢
Operating expenses per ASM 7.07¢ 7.08¢ 7.25¢ (13) 7.03¢ 6.76¢ 6.73¢
6.20¢
Fuel cost per gallon (average) 55.22¢ 53.92¢ 59.15¢ 60.82¢ 65.69¢ 77.89¢
59.46¢
Number of Employees at yearend 19,933 16,818 15,175 11,397 9,778 8,620
7,760
Size of fleet at yearend (14) 224 199 178 141 124 106
(1) The Selected Consolidated Financial Data and Consolidated Financial Ratios for 1992 through 1989 have been restated to include the financial results of Morris. Years prior to 1989 were immaterial for
restatement purposes
(2) Prior to 1993, Morris operated as a charter carrier; therefore, no Morris statistics are included for these years
(3) Pro forma for 1992 through 1989 assuming Morris, an S-Corporation prior to 1993, was taxed at statutory rates
(4) Excludes cumulative effect of accounting changes of $15.3 million ($.10 per share)
(5) Excludes cumulative effect of accounting changes of $12.5 million ($.09 per share)
(6) Includes $2.6 million gains on sales of aircraft and $3.1 million from the sale of certain financial assets
(7) Includes $10.8 million gains on sales of aircraft, $5.9 million from the sale of certain financial assets, and $2.3 million from the settlement of a contingency
(8) Includes $5.6 million gains on sales of aircraft and $3.6 million from the sale of certain financial assets
(9) Includes TranStar’s results through June 30, 1987
(10) Includes $10.1 million net gains from the discontinuance of TranStar’s operations and $4.3 million from the sale of certain financial assets
(11) Includes a gain of $4 million from the sale of aircraft delivery positions
(12) Includes certain estimates for Morris
(13) Excludes merger expenses of $10.8 million
(14) Includes leased aircraft