Southwest Airlines 2011 Annual Report Download - page 81
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SOUTHWEST AIRLINES CO.
CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share amounts)
YEAR ENDED DECEMBER 31,
2011 2010 2009
OPERATING REVENUES:
Passenger ...................................................... $14,735 $11,489 $ 9,892
Freight ........................................................ 139 125 118
Other .......................................................... 784 490 340
Total operating revenues .......................................... 15,658 12,104 10,350
OPERATING EXPENSES:
Salaries, wages, and benefits ....................................... 4,371 3,704 3,468
Fuel and oil ..................................................... 5,644 3,620 3,044
Maintenance materials and repairs ................................... 955 751 719
Aircraft rentals .................................................. 308 180 186
Landing fees and other rentals ...................................... 959 807 718
Depreciation and amortization ...................................... 715 628 616
Acquisition and integration ........................................ 134 8 —
Other operating expenses .......................................... 1,879 1,418 1,337
Total operating expenses .......................................... 14,965 11,116 10,088
OPERATING INCOME ......................................... 693 988 262
OTHER EXPENSES (INCOME):
Interest expense ................................................. 194 167 186
Capitalized interest ............................................... (12) (18) (21)
Interest income .................................................. (10) (12) (13)
Other (gains) losses, net ........................................... 198 106 (54)
Total other expenses .............................................. 370 243 98
INCOME BEFORE INCOME TAXES ............................. 323 745 164
PROVISION FOR INCOME TAXES .............................. 145 286 65
NET INCOME ................................................. $ 178 $ 459 $ 99
NET INCOME PER SHARE, BASIC .............................. $ .23 $ .62 $ .13
NET INCOME PER SHARE, DILUTED ........................... $ .23 $ .61 $ .13
Cash dividends declared per common share ......................... $ .0180 $ .0180 $ .0180
See accompanying notes.
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