Southwest Airlines 2014 Annual Report Download - page 54

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financial information includes the operations of AirTran since the May 2, 2011, acquisition date. Any
financial information presented prior to that date includes only the operations of Southwest unless otherwise
indicated. The Company provides the operating data below because these statistics are commonly used in
the airline industry and, therefore, allow readers to compare the Company’s performance against its results
for prior periods, as well as against the performance of the Company’s peers.
Year ended December 31,
2014 2013 2012 2011 2010
Financial Data (in millions, except per share
amounts):
Operating revenues $ 18,605 $ 17,699 $ 17,088 $ 15,658 $ 12,104
Operating expenses 16,380 16,421 16,465 14,965 11,116
Operating income 2,225 1,278 623 693 988
Other expenses (income) net 409 69 (62) 370 243
Income before taxes 1,816 1,209 685 323 745
Provision for income taxes 680 455 264 145 286
Net income $ 1,136 $ 754 $ 421 $ 178 $ 459
Net income per share, basic $ 1.65 $ 1.06 $ 0.56 $ 0.23 $ 0.62
Net income per share, diluted $ 1.64 $ 1.05 $ 0.56 $ 0.23 $ 0.61
Cash dividends per common share $ 0.2200 $ 0.1300 $ 0.0345 $ 0.0180 $ 0.0180
Total assets at period-end $ 20,200 $ 19,345 $ 18,596 $ 18,068 $ 15,463
Long-term obligations at period-end $ 2,434 $ 2,191 $ 2,883 $ 3,107 $ 2,875
Stockholders’ equity at period-end $ 6,775 $ 7,336 $ 6,992 $ 6,877 $ 6,237
Operating Data:
Revenue passengers carried 110,496,912 108,075,976 109,346,509 103,973,759 88,191,322
Enplaned passengers 135,767,188 133,155,030 133,978,100 127,551,012 106,227,521
Revenue passenger miles (RPMs) (000s) (1) 108,035,133 104,348,216 102,874,979 97,582,530 78,046,967
Available seat miles (ASMs) (000s) (2) 131,003,957 130,344,072 128,137,110 120,578,736 98,437,092
Load factor (3) 82.5% 80.1% 80.3% 80.9% 79.3%
Average length of passenger haul (miles) 978 966 941 939 885
Average aircraft stage length (miles) 721 703 693 679 648
Trips flown 1,255,502 1,312,785 1,361,558 1,317,977 1,114,451
Average passenger fare $ 159.80 $ 154.72 $ 147.17 $ 141.90 $ 130.27
Passenger revenue yield per RPM (cents) (4) 16.34 16.02 15.64 15.12 14.72
Operating revenue per ASM (cents) (5) 14.20 13.58 13.34 12.99 12.30
Passenger revenue per ASM (cents) (6) 13.48 12.83 12.56 12.24 11.67
Operating expenses per ASM (cents) (7) 12.50 12.60 12.85 12.41 11.29
Operating expenses per ASM, excluding fuel (cents) 8.46 8.18 8.07 7.73 7.61
Operating expenses per ASM, excluding fuel and
profitsharing (cents) 8.19 8.01 7.98 7.65 7.45
Fuel costs per gallon, including fuel tax $ 2.93 $ 3.16 $ 3.30 $ 3.19 $ 2.51
Fuel costs per gallon, including fuel tax, economic $ 2.92 $ 3.12 $ 3.28 $ 3.19 $ 2.39
Fuel consumed, in gallons (millions) 1,801 1,818 1,847 1,764 1,437
Active fulltime equivalent Employees 46,278 44,831 45,861 45,392 34,901
Aircraft at end of period (8) 665 681 694 698 548
(1) A revenue passenger mile is one paying passenger flown one mile. Also referred to as “traffic,” which is a measure of demand for a
given period.
(2) An available seat mile is one seat (empty or full) flown one mile. Also referred to as “capacity,” which is a measure of the space
available to carry passengers in a given period.
(3) Revenue passenger miles divided by available seat miles.
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