Southwest Airlines 2012 Annual Report Download - page 84
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SOUTHWEST AIRLINES CO.
CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share amounts)
YEAR ENDED DECEMBER 31,
2012 2011 2010
OPERATING REVENUES:
Passenger ........................................ $ 16,093 $ 14,754 $ 11,489
Freight .......................................... 160 139 125
Other ........................................... 835 765 490
Total operating revenues .......................... 17,088 15,658 12,104
OPERATING EXPENSES:
Salaries, wages, and benefits ......................... 4,749 4,371 3,704
Fuel and oil ...................................... 6,120 5,644 3,620
Maintenance materials and repairs .................... 1,132 955 751
Aircraft rentals .................................... 355 308 180
Landing fees and other rentals ........................ 1,043 959 807
Depreciation and amortization ........................ 844 715 628
Acquisition and integration .......................... 183 134 8
Other operating expenses ............................ 2,039 1,879 1,418
Total operating expenses .......................... 16,465 14,965 11,116
OPERATING INCOME ............................. 623 693 988
OTHER EXPENSES (INCOME):
Interest expense ................................... 147 194 167
Capitalized interest ................................ (21) (12) (18)
Interest income .................................... (7) (10) (12)
Other (gains) losses, net ............................. (181) 198 106
Total other expenses (income) ...................... (62) 370 243
INCOME BEFORE INCOME TAXES ................. 685 323 745
PROVISION FOR INCOME TAXES .................. 264 145 286
NET INCOME ..................................... $ 421 $ 178 $ 459
NET INCOME PER SHARE, BASIC .................. $ .56 $ .23 $ .62
NET INCOME PER SHARE, DILUTED ............... $ .56 $ .23 $ .61
Cash dividends declared per common share ............. $ .0345 $ .0180 $ .0180
See accompanying notes.
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