ALASKA AIR GROUP, INC.
10-K & 10-Q Filings
Alaska Air Group is a Delaware corporation that operates two airlines, Alaska and Horizon. Alaska, which was founded in 1932, offers scheduled air transportation on Boeing 737 aircraft for passengers and cargo throughout the U.S., Mexico, Costa Rica, Belize, the Bahamas, and Guatemala. Horizon, which was founded in 1981, operates Embraer E175 aircraft and sells all of its capacity to Alaska under a capacity purchase agreement. The company's business strategy includes enhancing competitive advantages, cost discipline, operational excellence, and sustainable growth. The company's three operating segments are Mainline, Regional, and Horizon. Mainline includes scheduled air transportation on B737 aircraft, Regional includes scheduled air transportation on E175 aircraft operated by Horizon and SkyWest, and Horizon includes the capacity sold to Alaska under a CPA. The company's website is alaskaair.com and its ticker symbol is ALK.
12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$4317.80
4657.00
5156.00
5368.00
5598.00
5931.00
7933.00
8264.00
8781.00
3566.00
6176.00
9646.00
10426.00
2196.00
2232.00
7.62%1.64%Cost of Revenue (-)$
1936.00
1878.00
723.00
1279.00
2668.00
2641.00
665.00
565.00
-15.04%Gross Profit (+)$2952.90
3119.00
3605.00
3857.00
4531.00
4974.00
6291.00
6328.00
6903.00
2843.00
4897.00
6978.00
7785.00
1531.00
1667.00
8.41%8.88%Selling, General & Administrative (-)$1237.70
1294.00
1265.00
1335.00
1465.00
1607.00
2281.00
2516.00
2683.00
2154.00
2391.00
2935.00
3344.00
789.00
881.00
8.64%11.66%Depreciation & Amortization (-)$246.90
264.00
270.00
294.00
320.00
363.00
372.00
398.00
423.00
420.00
394.00
415.00
451.00
104.00
126.00
5.15%21.15%Non-recurring Operating Expenses (-)$38.90
117.00
118.00
87.00
44.00
226.00
-10.00
8.00
Operating Expenses (-)$3868.90
4125.00
4318.00
4406.00
4300.00
4582.00
6673.00
7621.00
7718.00
5341.00
5491.00
9576.00
10032.00
1717.00
1833.00
8.26%6.76%Costs & Expenses (Total) (-)$3868.90
4125.00
4318.00
4406.00
4300.00
4582.00
6673.00
9557.00
9596.00
6064.00
6770.00
12244.00
12673.00
2382.00
2398.00
10.39%0.67%Operating Income/Loss (+)$448.90
532.00
838.00
962.00
1298.00
1349.00
1260.00
643.00
1063.00
-1775.00
685.00
70.00
394.00
-186.00
-166.00
-1.08%10.75%Non-operating Income/Expense (+)$-55.20
-18.00
-22.00
13.00
14.00
-4.00
-53.00
-58.00
-47.00
-65.00
-56.00
9.00
-71.00
-13.00
-12.00
7.69%Interest Expense (-)$87.30
64.00
56.00
48.00
42.00
55.00
103.00
91.00
78.00
98.00
128.00
108.00
121.00
2.76%Earnings before Tax (+)
$393.70
514.00
816.00
975.00
1312.00
1345.00
1207.00
585.00
1016.00
-1840.00
629.00
79.00
323.00
-199.00
-178.00
-1.64%10.55%Tax Expense (-)$149.20
198.00
308.00
370.00
464.00
531.00
173.00
148.00
247.00
-516.00
151.00
21.00
88.00
-57.00
-46.00
-4.30%19.30%Income/Loss (Continuing Operations) (+)$244.50
316.00
508.00
605.00
848.00
814.00
1034.00
437.00
769.00
-1324.00
478.00
58.00
235.00
-142.00
-132.00
-0.33%7.04%Net Income/Loss (+)$244.50
316.00
508.00
605.00
848.00
814.00
1034.00
437.00
769.00
-1324.00
478.00
58.00
235.00
-142.00
-132.00
-0.33%7.04%Net Income/Loss (Common) (+)$244.50
316.00
508.00
605.00
848.00
814.00
1034.00
437.00
769.00
-1324.00
478.00
58.00
235.00
-142.00
-132.00
-0.33%7.04%EPS (Basic)$6.81
4.47
7.26
4.47
6.61
6.59
8.39
3.55
6.24
-10.72
3.82
0.46
1.84
-1.11
-1.05
-10.33%5.41%EPS (Diluted)$6.66
4.40
7.16
4.42
6.56
6.54
8.35
3.52
6.19
-10.72
3.77
0.45
1.83
-1.11
-1.05
-10.21%5.41%Weighted Avg Shares (Basic)35.88
70.71
69.95
135.44
128.37
123.56
123.21
123.23
123.28
123.45
125.06
126.66
127.38
127.50
125.97
11.14%-1.20%Weighted Avg Shares (Diluted)36.71
71.78
70.94
136.80
129.37
124.39
123.85
123.97
124.29
123.45
126.78
127.90
128.71
127.50
125.97
11.02%-1.20%Cash$102.20
122.00
80.00
107.00
73.00
328.00
194.00
105.00
221.00
1370.00
470.00
338.00
281.00
516.00
885.00
8.79%71.51%Short-term Investments$1038.70
1130.00
1250.00
1110.00
1255.00
1252.00
1427.00
1131.00
1300.00
1976.00
2646.00
2079.00
1510.00
1913.00
1393.00
3.17%-27.18%Receivables$136.40
130.00
152.00
259.00
212.00
302.00
341.00
366.00
323.00
480.00
546.00
296.00
383.00
340.00
384.00
8.98%12.94%Inventory$44.30
58.00
60.00
58.00
51.00
47.00
57.00
60.00
72.00
57.00
62.00
104.00
116.00
105.00
104.00
8.35%-0.95%Prepaid Expenses (Current)$93.00
123.00
95.00
105.00
72.00
121.00
127.00
125.00
121.00
123.00
196.00
163.00
176.00
181.00
177.00
5.46%-2.21%Other Assets (Current)$180.90
174.00
125.00
117.00
60.00
239.00
60.00
186.00
2.35%210.00%Assets (Current)$1595.50
1737.00
1762.00
1756.00
1663.00
2050.00
2146.00
1787.00
2037.00
4006.00
3920.00
3040.00
2705.00
3099.00
3129.00
4.50%0.97%Property, Plant & Equipment (Net)$3401.50
3609.00
3893.00
4299.00
4802.00
5666.00
6284.00
6781.00
6902.00
6211.00
6138.00
7257.00
8388.00
7252.00
8194.00
7.81%12.99%Accumulated Depreciation$1665.10
1863.00
2068.00
2317.00
2614.00
2929.00
2991.00
3242.00
3486.00
3531.00
3862.00
4127.00
4342.00
4178.00
4439.00
8.31%6.25%Goodwill & Intangibles$
2077.00
2076.00
2070.00
2065.00
2050.00
2044.00
2038.00
2033.00
2037.00
2033.00
-0.20%Other Assets$198.00
159.00
183.00
126.00
68.00
169.00
234.00
274.00
278.00
379.00
396.00
380.00
292.00
374.00
283.00
3.29%-24.33%Assets (Non-current)$3599.50
3768.00
4076.00
4425.00
4870.00
7912.00
8594.00
9125.00
10956.00
10040.00
10031.00
11146.00
11908.00
11197.00
11684.00
10.48%4.35%Assets (Total)$5195.00
5505.00
5838.00
6181.00
6533.00
9962.00
10740.00
10912.00
12993.00
14046.00
13951.00
14186.00
14613.00
14296.00
14813.00
9.00%3.62%Accounts Payable$780.70
788.00
887.00
923.00
1022.00
1367.00
1456.00
963.00
1047.00
527.00
1282.00
846.00
1591.00
1545.00
1453.00
6.11%-5.95%Debt (Current)$239.50
179.00
129.00
117.00
115.00
319.00
307.00
486.00
504.00
1138.00
366.00
276.00
353.00
268.00
301.00
3.29%12.31%Other Liabilities (Current)$489.40
534.00
564.00
631.00
669.00
849.00
937.00
1493.00
1650.00
2628.00
2343.00
3371.00
2515.00
3044.00
3075.00
14.61%1.02%Liabilities (Current)$1509.60
1501.00
1580.00
1671.00
1806.00
2535.00
2700.00
2942.00
3201.00
4293.00
3991.00
4493.00
4459.00
4857.00
4829.00
9.45%-0.58%Debt (Non-current)$1099.00
871.00
754.00
686.00
571.00
2645.00
2262.00
1617.00
2703.00
2357.00
2173.00
1883.00
2182.00
5.88%Other Liabilities
$1413.20
1712.00
1475.00
1697.00
1745.00
1851.00
2057.00
2602.00
2758.00
4408.00
3986.00
3994.00
3859.00
5750.00
6007.00
8.73%4.47%Liabilities (Non-current)$2512.20
2583.00
2229.00
2383.00
2316.00
4496.00
4319.00
4219.00
5461.00
6765.00
6159.00
5877.00
6041.00
5750.00
6007.00
7.59%4.47%Liabilities (Total)$4021.80
4084.00
3809.00
4054.00
4122.00
7031.00
7019.00
7161.00
8662.00
11058.00
10150.00
10370.00
10500.00
10607.00
10836.00
8.33%2.16%Treasury Stock$125.30
2.00
4.00
250.00
443.00
518.00
568.00
643.00
674.00
674.00
674.00
819.00
692.00
840.00
16.93%21.39%Retained Earnings$810.60
1127.00
1607.00
2144.00
2890.00
3568.00
4454.00
4534.00
5133.00
3764.00
4242.00
4300.00
4535.00
4158.00
4403.00
15.43%5.89%AOCI$-390.00
-436.00
-183.00
-310.00
-303.00
-305.00
-380.00
-448.00
-465.00
-494.00
-262.00
-388.00
-299.00
-365.00
-294.00
19.45%Shareholder's Equity$1173.20
1421.00
2029.00
2127.00
2411.00
2931.00
3721.00
3751.00
4331.00
2988.00
3801.00
3816.00
4113.00
3689.00
3977.00
11.02%7.81%Liabilities & Equity$5195.00
5505.00
5838.00
6181.00
6533.00
9962.00
10740.00
10912.00
12993.00
14046.00
13951.00
14186.00
14613.00
14296.00
14813.00
9.00%3.62%Net Income/Loss$244.50
316.00
508.00
605.00
848.00
814.00
1034.00
437.00
769.00
-1324.00
478.00
58.00
235.00
-142.00
-132.00
-0.33%7.04%Depreciation & Amortization$246.90
264.00
270.00
294.00
320.00
363.00
372.00
398.00
423.00
420.00
394.00
415.00
451.00
104.00
126.00
5.15%21.15%Increase/Decrease in Working Capital$-288.40
-176.00
-422.00
-93.00
-234.00
-163.00
-148.00
-304.00
-548.00
-1.00
-109.00
-133.00
-124.00
-379.00
-396.00
-4.49%Share-based Compensation$-124.30
-104.00
-55.00
6.00
25.00
26.00
55.00
47.00
29.00
24.00
51.00
42.00
85.00
23.00
19.00
-17.39%Adjustments to Reconcile Net Income$451.50
437.00
473.00
425.00
736.00
572.00
556.00
758.00
953.00
1090.00
552.00
1360.00
815.00
364.00
424.00
5.04%16.48%Net Cash (Operating)$696.00
753.00
981.00
1030.00
1584.00
1386.00
1590.00
1195.00
1722.00
-234.00
1030.00
1418.00
1050.00
222.00
292.00
3.49%31.53%Capital Expenditure$387.40
518.00
566.00
694.00
831.00
678.00
1026.00
960.00
696.00
206.00
292.00
1671.00
1494.00
124.00
57.00
11.90%-54.03%Net Cash (Investing)$-403.30
-645.00
-698.00
-541.00
-930.00
-2622.00
-1132.00
-631.00
-791.00
-593.00
-1008.00
-1218.00
-964.00
60.00
318.00
430.00%Increase/Decrease in Debt$-227.00
-275.00
-161.00
-68.00
-116.00
1795.00
-397.00
-468.00
-608.00
1999.00
-971.00
-385.00
129.00
-96.00
47.00
148.96%Increase/Decrease in Equity$-60.10
-29.00
-135.00
-321.00
-505.00
-193.00
-75.00
-50.00
-75.00
-31.00
-137.00
-18.00
-20.00
-11.11%Interest Expenses$73.60
46.00
35.00
28.00
8.00
24.00
84.00
72.00
60.00
50.00
109.00
71.00
32.00
35.00
9.38%Dividends Paid$
28.00
68.00
102.00
136.00
148.00
158.00
173.00
45.00
Net Cash (Financing)
$-280.00
-88.00
-325.00
-462.00
-688.00
1491.00
-592.00
-647.00
-813.00
1981.00
-914.00
-325.00
-147.00
-114.00
-5.00
95.61%Cash Taxes Paid$7.50
78.00
149.00
326.00
349.00
459.00
177.00
31.00
48.00
-295.00
Increase/Decrease in Cash
$12.70
20.00
-42.00
27.00
-34.00
255.00
-134.00
-83.00
118.00
1154.00
-892.00
-125.00
-61.00
168.00
605.00
260.12%Cash (Beginning)$89.50
102.00
122.00
80.00
107.00
73.00
328.00
197.00
114.00
232.00
1386.00
494.00
369.00
369.00
308.00
12.53%-16.53%Cash (Ending)$102.20
122.00
80.00
107.00
73.00
328.00
194.00
114.00
232.00
1386.00
494.00
369.00
308.00
537.00
913.00
9.63%70.02%NOPAT$440.35
451.27
684.98
640.35
952.72
888.63
1075.23
480.33
1030.57
-2272.77
632.73
51.39
286.66
-239.28
-208.90
-3.51%12.70%Gross Margin %68.39%
66.97%
69.92%
71.85%
80.94%
83.86%
79.30%
76.57%
78.61%
79.73%
79.29%
72.34%
74.67%
69.72%
74.69%
Operating Margin %10.40%
11.42%
16.25%
17.92%
23.19%
22.74%
15.88%
7.78%
12.11%
-49.78%
11.09%
0.73%
3.78%
-8.47%
-7.44%
NOPAT Margin %10.20%
9.69%
13.29%
11.93%
17.02%
14.98%
13.55%
5.81%
11.74%
-63.73%
10.24%
0.53%
2.75%
-10.90%
-9.36%
Net Margin %5.66%
6.79%
9.85%
11.27%
15.15%
13.72%
13.03%
5.29%
8.76%
-37.13%
7.74%
0.60%
2.25%
-6.47%
-5.91%
Tax Rate %1.91%
15.18%
18.26%
33.44%
26.60%
34.13%
14.66%
25.30%
3.05%
-28.04%
7.63%
26.58%
27.24%
-28.64%
-25.84%
ROA8.48%
8.20%
11.73%
10.36%
14.58%
8.92%
10.01%
4.40%
7.93%
-16.18%
4.54%
0.36%
1.96%
-1.67%
-1.41%
ROE37.53%
31.76%
33.76%
30.11%
39.52%
30.32%
28.90%
12.81%
23.80%
-76.06%
16.65%
1.35%
6.97%
-6.49%
-5.25%
ROIC16.00%
15.11%
22.02%
17.84%
24.72%
13.17%
15.03%
6.16%
13.16%
-30.56%
9.04%
0.67%
3.36%
-3.39%
-2.57%
Asset Turnover0.83
0.85
0.88
0.87
0.86
0.60
0.74
0.76
0.68
0.25
0.44
0.68
0.71
0.15
0.15
Inventory Turnover32.27
26.08
12.68
20.63
25.65
22.77
6.33
5.43
Equity Multiplier4.43
3.87
2.88
2.91
2.71
3.40
2.89
2.91
3.00
4.70
3.67
3.72
3.55
3.88
3.72
Current Ratio1.06
1.16
1.12
1.05
0.92
0.81
0.79
0.61
0.64
0.93
0.98
0.68
0.61
0.64
0.65
Quick Ratio0.85
0.92
0.94
0.88
0.85
0.74
0.73
0.54
0.58
0.89
0.92
0.60
0.49
0.57
0.55
Debt/Equity Ratio1.14
0.74
0.44
0.38
0.28
1.01
0.69
0.56
0.74
1.17
0.67
0.57
0.62
0.07
0.08
Interest Coverage Ratio6.10
11.57
23.94
34.36
162.25
56.21
15.00
8.93
17.72
-35.50
6.28
0.99
-5.81
-4.74
Working Capital/Sales-0.15
-0.13
-0.15
-0.13
-0.17
-0.17
-0.15
-0.13
-0.13
-0.23
-0.19
-0.17
-0.18
-1.01
-0.94
Dividend Payout Ratio %4.09%
10.62%
10.71%
15.30%
13.76%
32.89%
16.79%
1.98%
Total Payout
$360.70
350.00
359.00
485.00
731.00
-1442.00
704.00
748.00
916.00
-1873.00
1080.00
456.00
8.00
146.00
8.00
-27.19%-94.52%Payout Ratio %81.91%
77.56%
52.41%
75.74%
76.73%
-162.27%
65.47%
155.73%
88.88%
-82.41%
170.69%
887.29%
2.79%
61.02%
3.83%