2021 Q4 Form 10-Q Financial Statement

#000076642121000100 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $1.899B $1.953B $808.0M
YoY Change 135.02% 178.6% -63.73%
Cost Of Revenue $876.0M $810.0M $495.0M
YoY Change 76.97% 71.97% -48.92%
Gross Profit $1.023B $1.143B $313.0M
YoY Change 226.84% 396.96% -75.14%
Gross Profit Margin 53.87% 58.53% 38.74%
Selling, General & Admin $729.0M $669.0M $557.0M
YoY Change 30.88% 19.25% -26.03%
% of Gross Profit 71.26% 58.53% 177.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0M $99.00M $100.0M
YoY Change 0.0% -5.71% -5.66%
% of Gross Profit 9.78% 8.66% 31.95%
Operating Expenses $988.0M $1.695B $754.0M
YoY Change 31.03% 33.25% -25.12%
Operating Profit $35.00M $258.0M -$441.0M
YoY Change -107.94% -145.18% -275.0%
Interest Expense -$19.00M -$21.00M -$23.00M
YoY Change -17.39% -8.7% -1250.0%
% of Operating Profit -54.29% -8.14%
Other Income/Expense, Net $9.000M -$13.00M $1.000M
YoY Change 800.0% -27.78% -116.67%
Pretax Income $29.00M $245.0M -$643.0M
YoY Change -104.51% -141.6% -364.61%
Income Tax $25.00M $51.00M -$196.0M
% Of Pretax Income 86.21% 20.82%
Net Earnings $18.00M $194.0M -$447.0M
YoY Change -104.03% -145.01% -346.96%
Net Earnings / Revenue 0.95% 9.93% -55.32%
Basic Earnings Per Share $1.55
Diluted Earnings Per Share $140.5K $1.53 -$3.605M
COMMON SHARES
Basic Shares Outstanding 125.3M shares 125.3M shares 123.7M shares
Diluted Shares Outstanding 127.2M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.070B $3.195B $3.346B
YoY Change -8.25% -15.0% 119.99%
Cash & Equivalents $470.0M $495.0M $1.370B
Short-Term Investments $2.600B $2.700B $1.976B
Other Short-Term Assets $196.0M $208.0M $123.0M
YoY Change 59.35% -36.59% 1.65%
Inventory $62.00M $62.00M $57.00M
Prepaid Expenses
Receivables $546.0M $536.0M $480.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.920B $4.001B $4.006B
YoY Change -2.15% -10.39% 96.66%
LONG-TERM ASSETS
Property, Plant & Equipment $6.138B $6.120B $6.211B
YoY Change -1.18% -4.09% -10.01%
Goodwill $2.044B $1.943B $2.050B
YoY Change -0.29% 0.0% 5.51%
Intangibles $102.0M $107.0M
YoY Change -4.67% -12.3%
Long-Term Investments
YoY Change
Other Assets $396.0M $346.0M $379.0M
YoY Change 4.49% 2.67% 36.33%
Total Long-Term Assets $10.03B $9.881B $10.04B
YoY Change -0.09% -3.92% -8.36%
TOTAL ASSETS
Total Short-Term Assets $3.920B $4.001B $4.006B
Total Long-Term Assets $10.03B $9.881B $10.04B
Total Assets $13.95B $13.88B $14.05B
YoY Change -0.68% -5.88% 8.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0M $181.0M $108.0M
YoY Change 85.19% 94.62% -26.03%
Accrued Expenses $625.0M $603.0M $424.0M
YoY Change 47.41% 48.52% -1.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $366.0M $425.0M $1.138B
YoY Change -67.84% -63.04% 384.26%
Total Short-Term Liabilities $3.991B $4.024B $4.293B
YoY Change -7.03% -4.35% 34.11%
LONG-TERM LIABILITIES
Long-Term Debt $2.173B $2.225B $2.357B
YoY Change -7.81% -16.73% 86.47%
Other Long-Term Liabilities $378.0M $391.0M $524.0M
YoY Change -27.86% -17.86% 125.86%
Total Long-Term Liabilities $2.551B $2.616B $2.881B
YoY Change -11.45% -40.76% -31.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.991B $4.024B $4.293B
Total Long-Term Liabilities $2.551B $2.616B $2.881B
Total Liabilities $6.542B $6.640B $7.174B
YoY Change -8.81% -23.0% -3.03%
SHAREHOLDERS EQUITY
Retained Earnings $4.242B $4.224B $3.764B
YoY Change 12.7% 0.31% -26.67%
Common Stock $495.0M $463.0M $392.0M
YoY Change 26.28% 26.16% 28.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $674.0M $674.0M $674.0M
YoY Change 0.0% 0.0% 4.82%
Treasury Stock Shares 9.350M shares 9.350M shares 9.350M shares
Shareholders Equity $3.801B $3.531B $2.988B
YoY Change
Total Liabilities & Shareholders Equity $13.95B $13.88B $14.05B
YoY Change -0.68% -5.88% 8.1%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $18.00M $194.0M -$447.0M
YoY Change -104.03% -145.01% -346.96%
Depreciation, Depletion And Amortization $100.0M $99.00M $100.0M
YoY Change 0.0% -5.71% -5.66%
Cash From Operating Activities $129.0M -$106.0M -$350.0M
YoY Change -136.86% -48.29% -202.64%
INVESTING ACTIVITIES
Capital Expenditures -$105.0M -$92.00M -$24.00M
YoY Change 337.5% 155.56% -85.8%
Acquisitions
YoY Change
Other Investing Activities $40.00M $219.0M $198.0M
YoY Change -79.8% -136.08% 130.23%
Cash From Investing Activities -$65.00M $127.0M $174.0M
YoY Change -137.36% -119.75% -309.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -89.00M -544.0M -305.0M
YoY Change -70.82% -145.52% 10.91%
NET CHANGE
Cash From Operating Activities 129.0M -106.0M -350.0M
Cash From Investing Activities -65.00M 127.0M 174.0M
Cash From Financing Activities -89.00M -544.0M -305.0M
Net Change In Cash -25.00M -523.0M -481.0M
YoY Change -94.8% -250.72% 2729.41%
FREE CASH FLOW
Cash From Operating Activities $129.0M -$106.0M -$350.0M
Capital Expenditures -$105.0M -$92.00M -$24.00M
Free Cash Flow $234.0M -$14.00M -$326.0M
YoY Change -171.78% -91.72% -163.92%

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CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2700000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
1193000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
1194000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
1409000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
1418000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
81000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
81000000 USD
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2683000000 USD
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2693000000 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
20000000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
33000000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
2650000000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
3495000000 USD
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
425000000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1138000000 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2225000000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2357000000 USD
CY2021Q3 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.036
CY2020Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.043
CY2021Q3 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.012
CY2020Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.019
CY2021Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.033
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
363000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1200000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
363000000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
112000000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
371000000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
334000000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
240000000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
261000000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1352000000 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2670000000 USD
CY2021Q3 alk Line Of Credit Facility Number Of Credit Facilities
LineOfCreditFacilityNumberOfCreditFacilities
3 airline
CY2021Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
486000000 USD
CY2021Q3 alk Line Of Credit Facility Asset Restrictions Unrestricted Cash And Marketable Securities
LineOfCreditFacilityAssetRestrictionsUnrestrictedCashAndMarketableSecurities
500000000 USD
us-gaap Pension Contributions
PensionContributions
100000000 USD
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
22000000 USD
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
539508 shares
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1882518 shares
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6000000 USD
CY2021Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
30000000 USD
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
7000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
23000000 USD
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
479000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
498000000 USD
CY2021Q3 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
-10000000 USD
CY2020Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
-19000000 USD
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-482000000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-494000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1953000000 USD
CY2021Q3 alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
1319000000 USD
CY2021Q3 us-gaap Fuel Costs
FuelCosts
376000000 USD
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
1695000000 USD
CY2021Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
3000000 USD
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000000 USD
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-13000000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
245000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
701000000 USD
CY2020Q3 alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
1147000000 USD
CY2020Q3 us-gaap Fuel Costs
FuelCosts
125000000 USD
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
1272000000 USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
7000000 USD
CY2020Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
34000000 USD
CY2020Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4000000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000000 USD
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-18000000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-589000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4277000000 USD
alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
2778000000 USD
us-gaap Fuel Costs
FuelCosts
853000000 USD
us-gaap Operating Expenses
OperatingExpenses
3631000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
19000000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
101000000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
9000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
27000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-46000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
600000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2758000000 USD
alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
3370000000 USD
us-gaap Fuel Costs
FuelCosts
568000000 USD
us-gaap Operating Expenses
OperatingExpenses
3938000000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
23000000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
64000000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
8000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
16000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-17000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1197000000 USD
CY2021Q3 us-gaap Assets
Assets
13882000000 USD
CY2020Q4 us-gaap Assets
Assets
14046000000 USD

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