Southwest Airlines 1999 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 1999 Southwest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 54

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54

SOUTHWEST AIRLINES CO. CONSOLIDATED STATEMENT OF INCOME
YEARS ENDED DECEMBER 31,
(In thousands except per share amounts)1999 1998 1997
OPERATING REVENUES:
Passenger $4,499,360 $3,963,781 $3,639,193
Freight 102,990 98,500 94,758
Other 133,237 101,699 82,870
Total operating revenues 4,735,587 4,163,980 3,816,821
OPERATING EXPENSES:
Salaries, wages, and benefits (Note 10) 1,455,237 1,285,942 1,136,542
Fuel and oil 492,415 388,348 494,952
Maintenance materials and repairs 367,606 302,431 256,501
Agency commissions 156,419 157,766 157,211
Aircraft rentals 199,740 202,160 201,954
Landing fees and other rentals 242,002 214,907 203,845
Depreciation (Note 2) 248,660 225,212 195,568
Other operating expenses 791,932 703,603 646,012
Total operating expenses 3,954,011 3,480,369 3,292,585
OPERATING INCOME 781,576 683,611 524,236
OTHER EXPENSES (INCOME):
Interest expense 54,145 56,276 63,454
Capitalized interest (31,262) (25,588) (19,779)
Interest income (25,200) (31,083) (36,616)
Other (gains) losses, net 10,282 (21,106) 221
Total other expenses (income) 7,965 (21,501) 7,280
INCOME BEFORE INCOME TAXES 773,611 705,112 516,956
PROVISION FOR INCOME TAXES
(NOTE 11) 299,233 271,681 199,184
NET INCOME $ 474,378 $ 433,431 $ 317,772
NET INCOME PER SHARE, BASIC (NOTES
8, 9, AND 12) $.94 $.87 $.64
NET INCOME PER SHARE, DILUTED
(NOTES 8, 9, AND 12) $.89 $.82 $.62
See accompanying notes.
F9