Southwest Airlines 2015 Annual Report Download - page 85
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Southwest Airlines Co.
Consolidated Statement of Income
(in millions, except per share amounts)
Year ended December 31,
2015 2014 2013
OPERATING REVENUES:
Passenger $ 18,299 $ 17,658 $ 16,721
Freight 179 175 164
Special revenue adjustment 172 — —
Other 1,170 772 814
Total operating revenues 19,820 18,605 17,699
OPERATING EXPENSES:
Salaries, wages, and benefits 6,383 5,434 5,035
Fuel and oil 3,616 5,293 5,763
Maintenance materials and repairs 1,005 978 1,080
Aircraft rentals 238 295 361
Landing fees and other rentals 1,166 1,111 1,103
Depreciation and amortization 1,015 938 867
Acquisition and integration 39 126 86
Other operating expenses 2,242 2,205 2,126
Total operating expenses 15,704 16,380 16,421
OPERATING INCOME 4,116 2,225 1,278
OTHER EXPENSES (INCOME):
Interest expense 121 130 131
Capitalized interest (31) (23) (24)
Interest income (9) (7) (6)
Other (gains) losses, net 556 309 (32)
Total other expenses (income) 637 409 69
INCOME BEFORE INCOME TAXES 3,479 1,816 1,209
PROVISION FOR INCOME TAXES 1,298 680 455
NET INCOME $ 2,181 $ 1,136 $ 754
NET INCOME PER SHARE, BASIC $ 3.30 $ 1.65 $ 1.06
NET INCOME PER SHARE, DILUTED $ 3.27 $ 1.64 $ 1.05
Cash dividends declared per common share $ .2850 $ .2200 $ .1300
See accompanying notes.
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