Southwest Airlines 2007 Annual Report Download - page 56

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SOUTHWEST AIRLINES CO.
CONSOLIDATED STATEMENT OF INCOME
2007 2006 2005
Years Ended December 31,
(In millions, except
per share amounts)
OPERATING REVENUES:
Passenger .................................................... $9,457 $8,750 $7,279
Freight ...................................................... 130 134 133
Other ....................................................... 274 202 172
Total operating revenues........................................ 9,861 9,086 7,584
OPERATING EXPENSES:
Salaries, wages, and benefits ....................................... 3,213 3,052 2,782
Fuel and oil .................................................. 2,536 2,138 1,341
Maintenance materials and repairs ................................... 616 468 446
Aircraft rentals ................................................ 156 158 163
Landing fees and other rentals ..................................... 560 495 454
Depreciation and amortization ..................................... 555 515 469
Other operating expenses ......................................... 1,434 1,326 1,204
Total operating expenses ....................................... 9,070 8,152 6,859
OPERATING INCOME........................................... 791 934 725
OTHER EXPENSES (INCOME):
Interest expense ............................................... 119 128 122
Capitalized interest ............................................. (50) (51) (39)
Interest income ................................................ (44) (84) (47)
Other (gains) losses, net ......................................... (292) 151 (90)
Total other expenses (income) ................................... (267) 144 (54)
INCOME BEFORE INCOME TAXES ................................ 1,058 790 779
PROVISION FOR INCOME TAXES ................................. 413 291 295
NET INCOME ................................................. $ 645 $ 499 $ 484
NET INCOME PER SHARE, BASIC ................................. $ .85 $ .63 $ .61
NET INCOME PER SHARE, DILUTED .............................. $ .84 $ .61 $ .60
See accompanying notes.
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