$ALK
ALASKA AIR GROUP, INC.

2024 Q3 Form 10-Q Financial Statement

#000076642124000045 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $3.072B $2.897B
YoY Change 8.21% 2.08%
Cost Of Revenue $1.247B $1.200B
YoY Change -1.27% 6.38%
Gross Profit $1.825B $1.697B
YoY Change 15.8% -0.76%
Gross Profit Margin 59.41% 58.58%
Selling, General & Admin $1.069B $915.0M
YoY Change 17.34% 2.58%
% of Gross Profit 58.58% 53.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $139.0M $128.0M
YoY Change 23.01% 13.27%
% of Gross Profit 7.62% 7.54%
Operating Expenses $2.731B $1.229B
YoY Change 3.92% 3.54%
Operating Profit -$52.00M $468.0M
YoY Change -124.64% -10.52%
Interest Expense -$9.000M -$6.000M
YoY Change 125.0% -700.0%
% of Operating Profit -1.28%
Other Income/Expense, Net -$13.00M $0.00
YoY Change -27.78% -100.0%
Pretax Income $328.0M $316.0M
YoY Change 69.95% -2.77%
Income Tax $92.00M $96.00M
% Of Pretax Income 28.05% 30.38%
Net Earnings $236.0M $220.0M
YoY Change 69.78% -8.33%
Net Earnings / Revenue 7.68% 7.59%
Basic Earnings Per Share $1.87 $1.74
Diluted Earnings Per Share $1.84 $1.72
COMMON SHARES
Basic Shares Outstanding 126.2M shares 126.9M shares
Diluted Shares Outstanding 128.6M shares 128.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.505B $2.509B
YoY Change 2.2% 2.74%
Cash & Equivalents $1.015B $1.115B
Short-Term Investments $1.490B $1.394B
Other Short-Term Assets $223.0M $391.0M
YoY Change 41.14% 13.66%
Inventory $202.0M $106.0M
Prepaid Expenses $270.0M $179.0M
Receivables $510.0M $370.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.737B $3.376B
YoY Change 2.55% 4.07%
LONG-TERM ASSETS
Property, Plant & Equipment $10.52B $9.663B
YoY Change 31.1% 4.12%
Goodwill $2.703B $2.033B
YoY Change 32.89% -0.15%
Intangibles $888.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets $363.0M $270.0M
YoY Change 25.17% 0.75%
Total Long-Term Assets $15.82B $11.97B
YoY Change 37.33% 3.29%
TOTAL ASSETS
Total Short-Term Assets $3.737B $3.376B
Total Long-Term Assets $15.82B $11.97B
Total Assets $19.56B $15.34B
YoY Change 28.97% 3.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $242.0M $203.0M
YoY Change 5.68% -4.25%
Accrued Expenses $958.0M $1.518B
YoY Change 18.86% -5.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $515.0M $359.0M
YoY Change 81.34% -37.24%
Total Short-Term Liabilities $6.248B $4.968B
YoY Change 23.14% -4.02%
LONG-TERM LIABILITIES
Long-Term Debt $4.159B $2.313B
YoY Change 95.44% 22.45%
Other Long-Term Liabilities $452.0M $3.089B
YoY Change 25.21% -3.68%
Total Long-Term Liabilities $8.832B $5.402B
YoY Change 254.84% 6.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.248B $4.968B
Total Long-Term Liabilities $8.832B $5.402B
Total Liabilities $15.08B $11.12B
YoY Change 99.39% 2.19%
SHAREHOLDERS EQUITY
Retained Earnings $4.859B $4.623B
YoY Change 7.1% 5.12%
Common Stock $770.0M $758.0M
YoY Change 16.67% 16.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $882.0M $868.0M
YoY Change 18.55% 18.74%
Treasury Stock Shares
Shareholders Equity $4.479B $4.226B
YoY Change
Total Liabilities & Shareholders Equity $19.56B $15.34B
YoY Change 28.97% 3.46%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $236.0M $220.0M
YoY Change 69.78% -8.33%
Depreciation, Depletion And Amortization $139.0M $128.0M
YoY Change 23.01% 13.27%
Cash From Operating Activities $318.0M $580.0M
YoY Change 17.34% -4.92%
INVESTING ACTIVITIES
Capital Expenditures $265.0M $499.0M
YoY Change -25.77% -7.08%
Acquisitions
YoY Change
Other Investing Activities -$36.00M $46.00M
YoY Change -238.46% -2400.0%
Cash From Investing Activities -$301.0M -$453.0M
YoY Change -9.06% -15.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.00M 92.00M
YoY Change -145.2% -280.39%
NET CHANGE
Cash From Operating Activities 318.0M 580.0M
Cash From Investing Activities -301.0M -453.0M
Cash From Financing Activities -80.00M 92.00M
Net Change In Cash -63.00M 219.0M
YoY Change -153.85% 995.0%
FREE CASH FLOW
Cash From Operating Activities $318.0M $580.0M
Capital Expenditures $265.0M $499.0M
Free Cash Flow $53.00M $81.00M
YoY Change -161.63% 10.96%

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CY2023Q2 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
116000000 usd
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-365000000 usd
CY2022Q4 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
122000000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-388000000 usd
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-2000000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
8000000 usd
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
-4000000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
15000000 usd
CY2023Q2 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
116000000 usd
CY2023Q2 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
116000000 usd
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-365000000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q2 alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
1960000000 usd
CY2024Q2 us-gaap Fuel Costs
FuelCosts
615000000 usd
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
2575000000 usd
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6000000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
316000000 usd
CY2024Q2 alk Pretax Margin Adjusted
PretaxMarginAdjusted
0.158
CY2024Q2 alk Pretax Margin Gaap
PretaxMarginGAAP
0.109
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2838000000 usd
CY2023Q2 alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
1928000000 usd
CY2023Q2 us-gaap Fuel Costs
FuelCosts
573000000 usd
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
2501000000 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
325000000 usd
CY2023Q2 alk Pretax Margin Adjusted
PretaxMarginAdjusted
0.183
CY2023Q2 alk Pretax Margin Gaap
PretaxMarginGAAP
0.115
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
3793000000 usd
us-gaap Fuel Costs
FuelCosts
1180000000 usd
us-gaap Operating Expenses
OperatingExpenses
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
138000000 usd
alk Pretax Margin Adjusted
PretaxMarginAdjusted
0.058
alk Pretax Margin Gaap
PretaxMarginGAAP
0.027
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5034000000 usd
alk Operating Expenses Excluding Fuel
OperatingExpensesExcludingFuel
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us-gaap Fuel Costs
FuelCosts
1238000000 usd
us-gaap Operating Expenses
OperatingExpenses
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
126000000 usd
alk Pretax Margin Adjusted
PretaxMarginAdjusted
0.080
alk Pretax Margin Gaap
PretaxMarginGAAP
0.025
CY2024Q2 us-gaap Assets
Assets
15342000000 usd
CY2023Q4 us-gaap Assets
Assets
14613000000 usd
CY2024Q2 alk Special Items Operating
SpecialItemsOperating
146000000 usd
CY2023Q2 alk Special Items Operating
SpecialItemsOperating
186000000 usd
alk Special Items Operating
SpecialItemsOperating
180000000 usd
alk Special Items Operating
SpecialItemsOperating
250000000 usd
CY2024Q2 alk Special Items Net Non Operating
SpecialItemsNetNonOperating
0 usd
CY2023Q2 alk Special Items Net Non Operating
SpecialItemsNetNonOperating
6000000 usd
alk Special Items Net Non Operating
SpecialItemsNetNonOperating
0 usd
alk Special Items Net Non Operating
SpecialItemsNetNonOperating
6000000 usd

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