Southwest Airlines 2008 Annual Report Download - page 38

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Item 6. Selected Financial Data
The following financial information for the five years ended December 31, 2008, has been derived from the
Company’s Consolidated Financial Statements. This information should be read in conjunction with the
Consolidated Financial Statements and related notes thereto included elsewhere herein.
Year Ended December 31,
2008 2007 2006 2005 2004
(in millions, except per share amounts)
Financial Data:
Operating revenues ............... $ 11,023 $ 9,861 $ 9,086 $ 7,584 $ 6,530
Operating expenses ............... 10,574 9,070 8,152 6,859 6,126
Operating income ................. 449 791 934 725 404
Other expenses (income) net ........ 171 (267) 144 (54) 65
Income before taxes ............... 278 1,058 790 779 339
Provision for income taxes .......... 100 413 291 295 124
Net Income ...................... $ 178 $ 645 $ 499 $ 484 $ 215
Net income per share, basic ......... $ .24 $ .85 $ .63 $ .61 $ .27
Net income per share, diluted ....... $ .24 $ .84 $ .61 $ .60 $ .27
Cash dividends per common share .... $ .0180 $ .0180 $ .0180 $ .0180 $ .0180
Total assets at period-end ........... $ 14,308 $ 16,772 $ 13,460 $ 14,003 $ 11,137
Long-term obligations at
period-end .................... $ 3,498 $ 2,050 $ 1,567 $ 1,394 $ 1,700
Stockholders’ equity at period-end . . . $ 4,953 $ 6,941 $ 6,449 $ 6,675 $ 5,527
Operating Data:
Revenue passengers carried ......... 88,529,234 88,713,472 83,814,823 77,693,875 70,902,773
Enplaned passengers .............. 101,920,598 101,910,809 96,276,907 88,379,900 81,066,038
Revenue passenger miles (RPMs)
(000s) ........................ 73,491,687 72,318,812 67,691,289 60,223,100 53,418,353
Available seat miles (ASMs) (000s) . . 103,271,343 99,635,967 92,663,023 85,172,795 76,861,296
Load factor(1) ................... 71.2% 72.6% 73.1% 70.7% 69.5%
Average length of passenger haul
(miles) ....................... 830 815 808 775 753
Average aircraft stage length
(miles) ....................... 636 629 622 607 576
Trips flown ...................... 1,191,151 1,160,699 1,092,331 1,028,639 981,591
Average passenger fare ............ $ 119.16 $ 106.60 $ 104.40 $ 93.68 $ 88.57
Passenger revenue yield per RPM .... 14.35¢ 13.08¢ 12.93¢ 12.09¢ 11.76¢
Operating revenue yield per ASM .... 10.67¢ 9.90¢ 9.81¢ 8.90¢ 8.50¢
Operating expenses per ASM ....... 10.24¢ 9.10¢ 8.80¢ 8.05¢ 7.97¢
Fuel costs per gallon, including taxes
(average)(2) ................... $ 2.44 $ 1.80 $ 1.64 $ 1.13 $ 0.92
Fuel consumed, in gallons
(millions) ..................... 1,511 1,489 1,389 1,287 1,201
Fulltime equivalent Employees at
period-end .................... 35,499 34,378 32,664 31,729 31,011
Size of fleet at period-end(3) ........ 537 520 481 445 417
(1) Revenue passenger miles divided by available seat miles
(2) Prior year amounts have been restated to include fuel taxes
(3) Includes leased aircraft
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