ALK FY 2018 Earnings Report — Alaska Air Group, Inc. Revenue & Financial Results | Market Cap Arena

Alaska Air Group, Inc.ALK

FY 2018 Earnings

Reported February 15, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$8.3B	—	—	—	—
Op. Income	$643M	—	—	—	—
Gross Margin	25.3%	—	—	—	—
Net Margin	5.3%	—	—	—	—
EPS (Diluted)	$3.52	—	—	—	—
Free Cash Flow	$235M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$8.3B
Cost of Revenue	$6.2B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$326M
General & Administrative	$0
SG&A Expenses	$326M
Other Expenses	$1.1B
Operating Expenses	$1.4B
Cost & Expenses	$7.6B
OPERATING INCOME	$643M
Interest Income	$38M
Interest Expense	$73M
Other Income/Expenses	-$58M
INCOME BEFORE TAX	$585M
Income Tax Expense	$148M
Net Income from Continuing Ops	$437M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$437M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$437M
D&A	$398M
EBIT	$793M
EBITDA	$1.2B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$8.3B
Cost of Revenue	$6.2B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$326M
General & Administrative	$0
SG&A Expenses	$326M
Other Expenses	$1.1B
Operating Expenses	$1.4B
Cost & Expenses	$7.6B
OPERATING INCOME	$643M
Interest Income	$38M
Interest Expense	$73M
Other Income/Expenses	-$58M
INCOME BEFORE TAX	$585M
Income Tax Expense	$148M
Net Income from Continuing Ops	$437M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$437M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$437M
D&A	$398M
EBIT	$793M
EBITDA	$1.2B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$437M
Depreciation & Amortization	$398M
Stock-Based Compensation	$47M
Deferred Income Tax	$146M
Other Non-Cash Items	$0
Change in Working Capital	$313M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$960M
Acquisitions (Net)	$47M
Purchases of Investments	-$834M
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$47M
NET CASH FROM INVESTING	-$631M
Net Debt Issuance	-$468M
Common Stock Repurchased	-$50M
Common Dividends Paid	-$158M
Other Financing Activities	$29M
NET CASH FROM FINANCING	-$647M
FREE CASH FLOW	$235M
Net Change in Cash	-$83M

Balance Sheet

Item	Amount
Cash & Equivalents	$105M
Short-Term Investments	$1.1B
Net Receivables	$366M
Inventory	$60M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$6.8B
Goodwill	$1.9B
Intangible Assets	$127M
Long-Term Investments	-$512M
Tax Assets	$512M
Other Non-Current Assets	$274M
TOTAL NON-CURRENT ASSETS	$9.1B
TOTAL ASSETS	$10.9B
Account Payables	$132M
Short-Term Debt	$486M
Deferred Revenue	$788M
Other Current Liabilities	$1.5B
TOTAL CURRENT LIABILITIES	$2.9B
Long-Term Debt	$1.6B
Deferred Revenue NC	$1.2B
Deferred Tax Liabilities	$512M
Other Non-Current Liabilities	$921M
TOTAL NON-CURRENT LIABILITIES	$4.2B
TOTAL LIABILITIES	$7.2B
Common Stock	$1M
Additional Paid-In Capital	$232M
Retained Earnings	$4.5B
Treasury Stock	-$568M
Accum. Other Comp. Income	-$448M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.8B
Minority Interest	$0
TOTAL EQUITY	$3.8B
TOTAL LIABILITIES & EQUITY	$10.9B
Total Debt	$2.1B
Net Debt	$2.0B