$ALK
ALASKA AIR GROUP, INC.

2023 Q2 Form 10-Q Financial Statement

#000076642123000023 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.838B $2.196B $1.681B
YoY Change 6.77% 30.64% 110.92%
Cost Of Revenue $1.128B $1.201B $854.0M
YoY Change -11.25% 40.63% 47.5%
Gross Profit $1.710B $995.0M $827.0M
YoY Change 23.29% 20.31% 279.36%
Gross Profit Margin 60.25% 45.31% 49.2%
Selling, General & Admin $892.0M $836.0M $700.0M
YoY Change 15.39% 19.43% 25.22%
% of Gross Profit 52.16% 84.02% 84.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $113.0M $104.0M $102.0M
YoY Change 8.65% 1.96% 5.15%
% of Gross Profit 6.61% 10.45% 12.33%
Operating Expenses $1.187B $1.117B $1.883B
YoY Change -51.96% -40.68% 96.56%
Operating Profit $523.0M -$122.0M -$202.0M
YoY Change 179.68% -39.6% 25.47%
Interest Expense $1.000M -$4.000M -$18.00M
YoY Change -108.33% -77.78% -156.25%
% of Operating Profit 0.19%
Other Income/Expense, Net -$7.000M -$9.000M -$4.000M
YoY Change 250.0% 125.0% -66.67%
Pretax Income $325.0M -$199.0M -$206.0M
YoY Change 75.68% -3.4% 19.08%
Income Tax $85.00M -$57.00M -$63.00M
% Of Pretax Income 26.15%
Net Earnings $240.0M -$142.0M -$143.0M
YoY Change 72.66% -0.7% 9.16%
Net Earnings / Revenue 8.46% -6.47% -8.51%
Basic Earnings Per Share $1.88 -$1.11 -$1.14
Diluted Earnings Per Share $1.86 -$1.11 -$1.14
COMMON SHARES
Basic Shares Outstanding 127.9M shares 127.5M shares 126.0M shares
Diluted Shares Outstanding 128.9M shares 127.5M shares 126.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.442B $2.429B $2.890B
YoY Change -28.7% -15.95% -18.57%
Cash & Equivalents $536.0M $516.0M $628.0M
Short-Term Investments $1.906B $1.913B $2.262B
Other Short-Term Assets $344.0M $225.0M $348.0M
YoY Change 9.9% -35.34% 116.15%
Inventory $107.0M $105.0M $78.00M
Prepaid Expenses
Receivables $351.0M $340.0M $658.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.244B $3.099B $3.974B
YoY Change -23.35% -22.02% -7.24%
LONG-TERM ASSETS
Property, Plant & Equipment $9.281B $8.786B $6.242B
YoY Change 43.42% 40.76% 1.6%
Goodwill $2.036B $2.037B $2.042B
YoY Change -0.24% -0.24% 5.1%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $268.0M $374.0M $411.0M
YoY Change -30.75% -9.0% 13.22%
Total Long-Term Assets $11.59B $11.20B $10.24B
YoY Change 9.62% 9.39% 2.59%
TOTAL ASSETS
Total Short-Term Assets $3.244B $3.099B $3.974B
Total Long-Term Assets $11.59B $11.20B $10.24B
Total Assets $14.83B $14.30B $14.21B
YoY Change 0.2% 0.61% -0.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $212.0M $206.0M $299.0M
YoY Change -25.87% -31.1% 124.81%
Accrued Expenses $1.611B $1.552B $659.0M
YoY Change 102.9% 135.51% 21.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $572.0M $268.0M $292.0M
YoY Change 67.25% -8.22% -76.57%
Total Short-Term Liabilities $5.176B $4.857B $4.570B
YoY Change 5.59% 6.28% -4.03%
LONG-TERM LIABILITIES
Long-Term Debt $1.889B $1.795B $2.078B
YoY Change -3.67% -13.62% -10.62%
Other Long-Term Liabilities $3.207B $3.432B $363.0M
YoY Change 808.5% 845.45% -24.69%
Total Long-Term Liabilities $5.096B $5.227B $2.441B
YoY Change 120.22% 114.13% -13.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.176B $4.857B $4.570B
Total Long-Term Liabilities $5.096B $5.227B $2.441B
Total Liabilities $10.88B $10.61B $7.011B
YoY Change 50.75% 51.29% -7.37%
SHAREHOLDERS EQUITY
Retained Earnings $4.398B $4.158B $4.099B
YoY Change 3.78% 1.44% 12.83%
Common Stock $649.0M $588.0M $504.0M
YoY Change 19.52% 16.67% 22.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $731.0M $692.0M $674.0M
YoY Change 8.46% 2.67% 0.0%
Treasury Stock Shares 9.350M shares
Shareholders Equity $3.951B $3.689B $3.637B
YoY Change
Total Liabilities & Shareholders Equity $14.83B $14.30B $14.21B
YoY Change 0.2% 0.61% -0.36%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $240.0M -$142.0M -$143.0M
YoY Change 72.66% -0.7% 9.16%
Depreciation, Depletion And Amortization $113.0M $104.0M $102.0M
YoY Change 8.65% 1.96% 5.15%
Cash From Operating Activities $610.0M $222.0M $287.0M
YoY Change -35.65% -22.65% 71.86%
INVESTING ACTIVITIES
Capital Expenditures $537.0M $124.0M $288.0M
YoY Change -255.65% -56.94% 966.67%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $184.0M $1.000M
YoY Change -99.52% 18300.0% -80.0%
Cash From Investing Activities -$539.0M $60.00M $39.00M
YoY Change -29.08% 53.85% -107.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $96.00M $170.0M
YoY Change -43.53% 47.83%
Cash From Financing Activities -51.00M -114.0M -$168.0M
YoY Change 34.21% -32.14% -304.88%
NET CHANGE
Cash From Operating Activities 610.0M 222.0M $287.0M
Cash From Investing Activities -539.0M 60.00M $39.00M
Cash From Financing Activities -51.00M -114.0M -$168.0M
Net Change In Cash 20.00M 168.0M $158.0M
YoY Change -86.67% 6.33% -153.74%
FREE CASH FLOW
Cash From Operating Activities $610.0M $222.0M $287.0M
Capital Expenditures $537.0M $124.0M $288.0M
Free Cash Flow $73.00M $98.00M -$1.000M
YoY Change -94.35% -9900.0% -100.71%

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