Southwest Airlines 2014 Annual Report Download - page 93
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Southwest Airlines Co.
Consolidated Statement of Income
(in millions, except per share amounts)
Year ended December 31,
2014 2013 2012
OPERATING REVENUES:
Passenger $ 17,658 $ 16,721 $ 16,093
Freight 175 164 160
Other 772 814 835
Total operating revenues 18,605 17,699 17,088
OPERATING EXPENSES:
Salaries, wages, and benefits 5,434 5,035 4,749
Fuel and oil 5,293 5,763 6,120
Maintenance materials and repairs 978 1,080 1,132
Aircraft rentals 295 361 355
Landing fees and other rentals 1,111 1,103 1,043
Depreciation and amortization 938 867 844
Acquisition and integration 126 86 183
Other operating expenses 2,205 2,126 2,039
Total operating expenses 16,380 16,421 16,465
OPERATING INCOME 2,225 1,278 623
OTHER EXPENSES (INCOME):
Interest expense 130 131 147
Capitalized interest (23) (24) (21)
Interest income (7) (6) (7)
Other (gains) losses, net 309 (32) (181)
Total other expenses (income) 409 69 (62)
INCOME BEFORE INCOME TAXES 1,816 1,209 685
PROVISION FOR INCOME TAXES 680 455 264
NET INCOME $ 1,136 $ 754 $ 421
NET INCOME PER SHARE, BASIC $ 1.65 $ 1.06 $ 0.56
NET INCOME PER SHARE, DILUTED $ 1.64 $ 1.05 $ 0.56
Cash dividends declared per common share $ .2200 $ .1300 $ .0345
See accompanying notes.
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