Southwest Airlines 1997 Annual Report Download - page 53

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53
SOUTHWEST AIRLINES CO. ♥ FIVE SYMBOLS OF FREEDOM
TEN-YEAR SUMMARY
SELECTED CONSOLIDATED FINANCIAL DATA (1)
(IN THOUSANDS EXCEPT PER SHARE AMOUNTS) 1997 1996 1995 1994
Operating revenues:
Passenger $3,639,193 $3,269,238 $2 ,760,756 $2,497,765
Freight 94,758 80,005 65,825 54,419
Other 82,870 56,927 46,170 39,749
Total operating revenues 3,816,821 3,406,170 2,872,751 2,591,933
Operating expenses 3,292,585 3,055,335 2,559,220 2,275,224
Operating income 524,236 350,835 313,531 316,709
Other expenses (income), net 7,280 9,473 8,391 17,186
Income before income taxes 516,956 341,362 305,140 299,523
Provision for income taxes (3) 199,184 134,025 122,514 120,192
Net income (3) $317,772 $207,337 $182,626 $179,331
Net income per share, basic (3) $1.45 $.95 $.85 $.84
Net income per share, diluted (3) $1.40 $.92 $.82 $.82
Cash dividends per common share $.03310 $.02932 $.02667 $.02667
Total assets $4,246,160 $3,723,479 $3,256,122 $2,823,071
Long-term debt $628,106 $650,226 $661,010 $583,071
Stockholders’ equity $2,009,018 $1,648,312 $1,427,318 $1,238,706
CONSOLIDATED FINANCIAL RATIOS (1)
Return on average total assets 8.0% 5.9% 6.0% 6.6%
Return on average stockholders’ equity 17.4% 13.5% 13.7% 15.6%
CONSOLIDATED OPERATING STATISTICS (2)
Revenue passengers carried 50,399,960 49,621,504 44,785,573 42,742,602(9)
RPMs (000s) 28,355,169 27,083,483 23,327,804 21,611,266
ASMs (000s) 44,487,496 40,727,495 36,180,001 32,123,974
Load factor 63.7% 66.5% 64.5% 67.3%
Average length of passenger haul 563 546 521 506
Trips flown 786,288 748,634 685,524 624,476
Average passenger fare $72.21 $65.88 $61.64 $58.44
Passenger revenue yield per RPM 12.84¢12.07¢11.83¢11.56¢
Operating revenue yield per ASM 8.58¢8.36¢7.94¢8.07¢
Operating expenses per ASM 7.40¢7.50¢7.07¢7.08¢
Fuel cost per gallon (average) 62.46¢65.47¢55.22¢53.92¢
Number of Employees at yearend 23,974 22,944 19,933 16,818
Size of fleet at yearend (11) 261 243 224 199
(1) The Selected Consolidated Financial Data and Consolidated Financial Ratios for 1992 through 1989 have been
restated to include the financial results of Morris Air Corporation (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 $15.3 million ($.07 per share)
(5) Excludes cumulative effect of accounting change of $12.5 million ($.06 per share)