Financial Statements for SkyWest, Inc.

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SkyWest, Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	803.49	810.73	865.26	937.21	921.17
Other Revenue, Total	-	-	-	-	-
Total Revenue	803.49	810.73	865.26	937.21	921.17
Cost of Revenue, Total	299.43	285.37	317.89	404.64	411.99
Gross Profit	504.06	525.35	547.37	532.58	509.18
Selling/General/Admin. Expenses, Total	366.06	361.23	370.86	364.55	370.06
Research & Development	-	-	-	-	-
Depreciation/Amortization	61.00	60.76	62.70	64.18	64.31
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	0.00	0.00	0.00	0.00
Other Operating Expenses, Total	61.44	59.62	58.83	57.04	54.35
Total Operating Expense	787.93	766.98	810.28	890.41	900.72
Operating Income	15.56	43.75	54.97	46.81	20.46
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	6.04	-1.33	-4.64	-0.81	-3.85
Income Before Tax	5.36	25.56	32.91	28.65	-1.22
Income After Tax	3.23	13.95	20.93	16.96	-0.68
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	3.23	13.95	20.93	16.96	-0.68
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	3.23	13.95	20.93	16.96	-0.68
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	3.23	13.95	20.93	16.96	-0.68
Income Available to Common Incl. Extra Items	3.23	13.95	20.93	16.96	-0.68
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	0.00	-	0.00	0.00
Diluted Weighted Average Shares	52.50	52.16	52.15	51.79	50.88
Diluted EPS Excluding Extraordinary Items	0.06	0.27	0.40	0.33	-0.01
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.04	0.04	0.04	0.04
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.06	0.27	0.40	0.33	-0.01

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	3,534.37	3,654.92	2,765.14	2,613.61
Other Revenue, Total	-	-	-	-
Total Revenue	3,534.37	3,654.92	2,765.14	2,613.61
Cost of Revenue, Total	1,419.89	1,652.32	1,139.45	1,127.55
Gross Profit	2,114.48	2,002.60	1,625.70	1,486.06
Selling/General/Admin. Expenses, Total	1,466.69	1,461.35	1,005.12	910.44
Research & Development	-	-	-	-
Depreciation/Amortization	251.96	254.18	236.50	221.55
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	0.00	11.48	-6.77	7.12
Other Operating Expenses, Total	229.84	240.19	173.44	141.88
Total Operating Expense	3,368.39	3,619.53	2,547.73	2,408.53
Operating Income	165.99	35.39	217.41	205.08
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-10.64	-13.42	0.63	1.86
Income Before Tax	85.90	-50.17	145.90	131.73
Income After Tax	51.16	-27.34	96.35	83.66
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	51.16	-27.34	96.35	83.66
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	51.16	-27.34	96.35	83.66
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	51.16	-27.34	96.35	83.66
Income Available to Common Incl. Extra Items	51.16	-27.34	96.35	83.66
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	-	-
Diluted Weighted Average Shares	51.75	52.20	56.53	56.81
Diluted EPS Excluding Extraordinary Items	0.99	-0.52	1.70	1.47
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.16	0.16	0.16	0.16
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.99	-0.38	1.63	1.55

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	143.07	133.77	136.46	108.71	98.95
Short Term Investments	468.86	556.12	583.17	501.33	464.92
Cash and Short Term Investments	611.94	689.89	719.63	610.05	563.86
Accounts Receivable - Trade, Net	135.83	130.10	126.81	139.26	146.23
Receivables - Other	-	-	-	-	-
Total Receivables, Net	135.83	130.10	126.81	139.55	148.33
Total Inventory	119.23	113.58	113.70	114.08	118.62
Prepaid Expenses	381.47	326.00	301.26	329.87	337.56
Other Current Assets, Total	164.65	174.47	131.04	130.21	131.64
Total Current Assets	1,413.12	1,434.04	1,392.44	1,323.76	1,300.01
Property/Plant/Equipment, Total - Gross	4,287.72	4,272.01	4,273.30	4,280.61	4,277.52
Accumulated Depreciation, Total	-1,608.54	-1,561.02	-1,525.44	-1,483.38	-1,435.40
Goodwill, Net	-	-	-	-	-
Intangibles, Net	16.68	17.25	17.81	18.37	18.93
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	111.39	92.35	90.73	99.45	104.59
Total Assets	4,220.39	4,254.64	4,248.85	4,238.81	4,265.66
Accounts Payable	227.13	222.67	225.15	231.20	240.10
Accrued Expenses	146.14	156.45	156.27	154.32	146.36
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	172.76	171.45	175.42	205.52	203.94
Other Current liabilities, Total	41.11	40.85	43.22	38.98	43.84
Total Current Liabilities	587.13	591.42	600.07	630.02	634.24
Long Term Debt	1,437.63	1,470.57	1,526.46	1,525.27	1,577.77
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	1,437.63	1,470.57	1,526.46	1,525.27	1,577.77
Total Debt	1,610.39	1,642.02	1,701.89	1,730.79	1,781.72
Deferred Income Tax	657.76	657.62	603.44	589.61	573.50
Minority Interest	-	-	-	-	-
Other Liabilities, Total	145.70	147.85	146.47	143.28	145.74
Total Liabilities	2,828.23	2,867.46	2,876.44	2,888.18	2,931.25
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	613.72	609.76	606.68	603.49	602.37
Additional Paid-In Capital	-	-	-	-	-
Retained Earnings (Accumulated Deficit)	1,148.28	1,147.12	1,135.23	1,116.35	1,101.42
Treasury Stock - Common	-371.41	-371.21	-371.21	-371.21	-371.21
Other Equity, Total	1.57	1.51	1.71	2.00	1.82
Total Equity	1,392.16	1,387.17	1,372.41	1,350.63	1,334.41
Total Liabilities & Shareholders' Equity	4,220.39	4,254.64	4,248.85	4,238.81	4,265.66
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	51.88	51.43	51.26	50.94	50.94

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	133.77	129.53	112.34	76.41
Short Term Investments	556.12	497.55	670.74	645.30
Cash and Short Term Investments	689.89	627.08	783.08	721.72
Accounts Receivable - Trade, Net	130.10	130.51	119.84	111.90
Receivables - Other	-	-	-	-
Total Receivables, Net	130.10	132.08	123.20	124.51
Total Inventory	113.58	115.21	106.57	89.88
Prepaid Expenses	326.00	285.74	256.17	237.35
Other Current Assets, Total	174.47	120.36	110.19	80.65
Total Current Assets	1,434.04	1,280.46	1,379.20	1,254.10
Property/Plant/Equipment, Total - Gross	4,272.01	4,264.32	4,115.61	3,857.34
Accumulated Depreciation, Total	-1,561.02	-1,380.85	-1,172.80	-977.64
Goodwill, Net	-	-	-	-
Intangibles, Net	17.25	19.50	21.75	24.00
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	92.35	98.47	112.38	153.00
Total Assets	4,254.64	4,281.91	4,456.15	4,310.80
Accounts Payable	222.67	220.78	216.13	165.82
Accrued Expenses	156.45	156.46	154.65	102.51
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	171.45	208.40	159.04	148.57
Other Current liabilities, Total	40.85	38.51	42.46	32.92
Total Current Liabilities	591.42	624.15	572.28	449.83
Long Term Debt	1,470.57	1,606.99	1,738.94	1,816.32
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	1,470.57	1,606.99	1,738.94	1,816.32
Total Debt	1,642.02	1,815.39	1,897.97	1,964.89
Deferred Income Tax	657.62	567.87	569.85	536.54
Minority Interest	-	-	-	-
Other Liabilities, Total	147.85	148.63	154.16	155.89
Total Liabilities	2,867.46	2,947.65	3,035.22	2,958.58
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	609.76	598.99	589.61	578.15
Additional Paid-In Capital	-	-	-	-
Retained Earnings (Accumulated Deficit)	1,147.12	1,104.14	1,139.74	1,052.38
Treasury Stock - Common	-371.21	-370.31	-309.63	-279.62
Other Equity, Total	1.51	1.44	1.20	1.31
Total Equity	1,387.17	1,334.26	1,420.92	1,352.22
Total Liabilities & Shareholders' Equity	4,254.64	4,281.91	4,456.15	4,310.80
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	51.43	50.61	54.17	55.61

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	-	51.16	-	-	-
Depreciation/Depletion	-	251.96	-	-	-
Amortization	-	-	-	-	-
Deferred Taxes	-	34.80	-	-	-
Non-Cash Items	-	15.51	-	-	-
Changes in Working Capital	-13.84	-64.60	244.17	109.35	-1.92
Cash from Operating Activities	-13.84	288.82	244.17	109.35	-1.92
Capital Expenditures	-19.19	-64.94	-38.51	-30.81	-14.89
Other Investing Cash Flow Items, Total	73.57	-43.42	-82.49	-12.02	20.60
Cash from Investing Activities	54.38	-108.36	-120.99	-42.83	5.71
Financing Cash Flow Items	-	0.00	0.21	0.07	-
Total Cash Dividends Paid	-2.06	-8.18	-6.12	-4.07	-2.03
Issuance (Retirement) of Stock, Net	2.44	5.33	3.17	1.26	1.34
Issuance (Retirement) of Debt, Net	-31.63	-173.37	-113.50	-84.60	-33.67
Cash from Financing Activities	-31.24	-176.22	-116.24	-87.33	-34.37
Foreign Exchange Effects	-	-	-	-	-
Net Change in Cash	9.30	4.25	6.93	-20.81	-30.58
Cash Interest Paid, Supplemental	-	78.41	54.86	39.26	15.29
Cash Taxes Paid, Supplemental	-	-1.35	-1.44	-1.48	-0.05

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	51.16	-27.34	96.35	83.66
Depreciation/Depletion	251.96	254.18	236.50	221.55
Amortization	-	-	-	-
Deferred Taxes	34.80	-21.54	58.52	59.35
Non-Cash Items	15.51	18.61	5.78	13.20
Changes in Working Capital	-64.60	-61.79	-50.06	-14.89
Cash from Operating Activities	288.82	162.13	347.09	362.87
Capital Expenditures	-64.94	-186.20	-151.26	-394.95
Other Investing Cash Flow Items, Total	-43.42	174.65	-26.11	-168.23
Cash from Investing Activities	-108.36	-11.55	-177.38	-563.18
Financing Cash Flow Items	0.00	13.90	4.25	16.14
Total Cash Dividends Paid	-8.18	-8.47	-9.00	-9.05
Issuance (Retirement) of Stock, Net	5.33	-56.23	-25.10	-9.66
Issuance (Retirement) of Debt, Net	-173.37	-82.58	-103.93	153.40
Cash from Financing Activities	-176.22	-133.38	-133.79	150.83
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	4.25	17.19	35.92	-49.48
Cash Interest Paid, Supplemental	78.41	81.19	85.93	90.57
Cash Taxes Paid, Supplemental	-1.35	-2.20	-16.89	2.90