Fundamentals - Income Statement
In millions of USD (except for per share items)
Copyright Refinitiv
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| Year Ending Dec 2019 (Update) | Year Ending Dec 2018 (Update) | Year Ending Dec 2017 (Restated) | Year Ending Dec 2016 (Restated) | Year Ending Dec 2015 (Update) | Year Ending Dec 2014 (Update) | Year Ending Dec 2013 (Update) | Year Ending Dec 2012 (Update) | Year Ending Dec 2011 (Update) | Year Ending Dec 2010 (Update) | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales Net Sales represents sales receipts for products and services, less cash discounts, trade discounts, excise tax, and sales returns and allowances. Revenues are recognized according to applicable accounting principles. | 1,840.97 | 1,667.45 | 1,511.20 | 1,378.94 | 1,262.19 | 1,137.05 | 996.15 | 908.72 | 779.12 | 663.64 |
| Revenue Revenue is used for industrial and utility companies. It consists of revenue from the sale of merchandise, manufactured goods and services, and the distribution of regulated energy resources, depending on a specific company’s industry. | 1,840.97 | 1,667.45 | 1,511.20 | 1,378.94 | 1,262.19 | 1,137.05 | 996.15 | 908.72 | 779.12 | 663.64 |
| Total Revenue Total Revenue represents revenue from all of a company’s operating activities after deducting any sales adjustments and their equivalents. | 1,840.97 | 1,667.45 | 1,511.20 | 1,378.94 | 1,262.19 | 1,137.05 | 996.15 | 908.72 | 779.12 | 663.64 |
| Cost of Revenue Cost of Revenue includes all costs that can be directly attributable to the goods and services produced/purchased and sold. | 519.54 | 545.70 | 459.91 | 369.33 | 373.30 | 490.94 | 467.60 | 452.09 | 412.99 | 305.97 |
| Cost of Revenue, Total Cost of Revenue, Total represents total operating expenses directly related to the goods sold and services provided. | 519.54 | 545.70 | 459.91 | 369.33 | 373.30 | 490.94 | 467.60 | 452.09 | 412.99 | 305.97 |
| Gross Profit Gross Profit represents a measure of a company’s operating performance. Gross Profit states the profits earned directly from a company’s revenues and direct costs. | 1,321.43 | 1,121.75 | 1,051.29 | 1,009.62 | 888.89 | 646.10 | 528.55 | 456.63 | 366.13 | 357.67 |
| Selling/General/Administrative Expense Selling/General/Administrative Expense represents all of the costs of operating a business other than the costs of readying a product for sale. Individual expenses included in Selling/General/Administrative Expense may vary depending on the nature of business of a company, but they cover expenses related to selling and marketing activities, general activities that serve many different departments, and administrative activities. | 221.23 | 205.73 | 178.36 | 145.08 | 110.94 | 113.16 | 99.91 | 97.58 | 86.61 | 79.68 |
| Labor & Related Expense Labor & Related Expense consists of expenses paid to employees of a company in the form of salaries, wages, fees, benefits or any other form of compensation. Labor & Related Expense is collected when it is reported separately from selling, general, and administrative expenses. Expenses paid to auditors and out-sourced consultants need to be excluded from this line unless such labor forces are contracted employees. | 450.45 | 413.89 | 371.60 | 291.97 | 229.80 | 193.35 | 158.63 | 133.30 | 119.86 | 108.00 |
| Advertising Expense Advertising Expense represents the cost of advertising media and promotional expenses. Advertising Expense may include outsourced advertising expenses for marketing. | 29.10 | 28.80 | 20.90 | 13.60 | 12.70 | -- | -- | -- | -- | -- |
| Selling/General/Administrative Expenses, Total Selling/General/Administrative Expenses, Total represents the sum of:<br/>Selling/General/Administrative Expense<br/>Labor & Related Expense<br/>Advertising Expense. | 700.78 | 648.43 | 570.86 | 450.66 | 353.45 | 306.50 | 258.54 | 230.87 | 206.47 | 187.68 |
| Depreciation Depreciation represents the accounting process of allocating the cost of tangible assets to expenses over those periods expected to benefit from the use of the assets. | 155.85 | 129.35 | 121.71 | 105.22 | 98.10 | 83.41 | 69.26 | 57.50 | 41.98 | 34.97 |
| Depreciation/Amortization Depreciation/Amortization represents the sum of:<br/>Depreciation<br/>Amortization of Intangibles<br/>Amortization of Acquisition Costs. | 155.85 | 129.35 | 121.71 | 105.22 | 98.10 | 83.41 | 69.26 | 57.50 | 41.98 | 34.97 |
| Impairment-Assets Held for Use Impairment – Assets Held for Use is a form of an unusual item related to the impairment of long-lived assets, certain identifiable intangibles, and goodwill related to those assets. These assets are retained by the reporting company. | 0.00 | 0.00 | 35.25 | 0.00 | 0.00 | 43.28 | -- | -- | -- | -- |
| Other Unusual Expense (Income) Other Unusual Expense (Income) represents unusual expenses other than Restructuring Charge, Litigation, Impairment – Assets Held for Use, orImpairment – Assets Held for Sale. | 3.68 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Unusual Expense (Income) Unusual Expense (Income) represents the sum of: <br/>Purchased R&D Written-Off<br/>Restructuring Charge<br/>Litigation<br/>Impairment – Assets Held for Use<br/>Impairment – Assets Held for Sale<br/>Other Unusual Expense (Income). | 3.68 | 0.00 | 35.25 | 0.00 | 0.00 | 43.28 | -- | -- | -- | -- |
| Other Operating Expense Other Operating Expense represents operating expenses disclosed that have no standard identification. It is used for items not typically related to standard operating activities. | 100.85 | 100.52 | 92.84 | 81.18 | 65.65 | 55.57 | 46.01 | 35.95 | 32.24 | 30.37 |
| Other Operating Expenses, Total Other Operating Expenses, Total represents the sum of: <br/>Unrealized Losses (Gains)<br/>Loss (Gain) on Sale of Assets – Operating<br/>Property & Other Taxes<br/>Other Operating Expense<br/>Other, Net. | 100.85 | 100.52 | 92.84 | 81.18 | 65.65 | 55.57 | 46.01 | 35.95 | 32.24 | 30.37 |
| Total Operating Expense Total Operating Expense represents the sum of: <br/><br/>Industrial Company:<br/>Cost of Revenue, Total<br/>Selling/General/Administrative Expenses, Total<br/>Depreciation/Amortization<br/>Interest Expense (Income), Net – Operating<br/>Unusual Expense (Income)<br/>Other Operating Expenses, Total<br/><br/>Utility Company:<br/>Cost of Revenue, Total<br/>Selling/General/Administrative Expenses, Total<br/>Depreciation/Amortization<br/>Interest Expense (Income), Net – Operating<br/>Unusual Expense (Income)<br/>Other Operating Expenses<br/> Fuel Expense<br/>Operations & Maintenance<br/><br/>Insurance Company:<br/>Selling/General/Administrative Expenses, Total<br/>Depreciation/Amortization<br/>Interest Expense (Income), Net – Operating<br/>Unusual Expense (Income)<br/>Other Operating Expenses, Total. | 1,480.69 | 1,423.99 | 1,280.57 | 1,006.38 | 890.49 | 979.70 | 841.41 | 776.42 | 693.67 | 558.99 |
| Operating Income Operating Income represents the sum of:<br/>Total Revenue<br/>Total Operating Expense. | 360.27 | 243.46 | 230.63 | 372.57 | 371.70 | 157.35 | 154.74 | 132.30 | 85.44 | 104.66 |
| Interest Expense - Non-Operating Interest Expense, Non-Operating represents interest expense on debt of nonfinancial service companies, including insurance companies. The interest expense may be actually paid or imputed on financing transactions. Interest Expense, Non-Operating is always a negative figure. | -76.80 | -53.76 | -38.99 | -28.84 | -26.51 | -21.21 | -9.62 | -9.24 | -7.18 | -2.52 |
| Interest Capitalized - Non-Operating Interest Capitalized, Non-Operating represents interest charges deferred to the company’s property, plant and equipment account, amortized over the life of the related assets. It is reported in the non-operating section of the company’s income statement. | 4.47 | -- | -- | -- | -- | -- | 0.12 | 0.50 | -- | -- |
| Interest Expense, Net Non-Operating Interest Expense, Net Non-Operating represents Interest Expense, Non-Operating, reduced by Interest Capitalized, Non-Operating, and is usually a negative value. | -72.33 | -53.76 | -38.99 | -28.84 | -26.51 | -21.21 | -9.49 | -8.74 | -7.18 | -2.52 |
| Interest Income, Non-Operating Interest Income, Non-Operating represents non-operating interest income, which is generated from non-operating investment securities such as certificates of deposit or bonds for non-financial service companies. | 12.52 | 9.23 | 5.81 | 3.01 | 1.39 | 0.77 | 1.04 | 0.98 | 1.24 | 1.18 |
| Interest/Investment Income, Non-Operating Interest/Investment Income, Non-Operating represents the sum of:<br/>Interest Income, Non-Operating<br/>Investment Income, Non-Operating. | 12.52 | 9.23 | 5.81 | 3.01 | 1.39 | 0.77 | 1.04 | 0.98 | 1.24 | 1.18 |
| Interest Income (Expense), Net-Non-Operating, Total Interest Income (Expense), Net- Non-Operating, Total represents the sum of:<br/>Interest Expense, Net Non-Operating<br/>Interest/Investment Income, Non-Operating<br/>Interest Income (Expense), Net Non-Operating. | -59.81 | -44.54 | -33.18 | -25.83 | -25.12 | -20.43 | -8.45 | -7.76 | -5.94 | -1.34 |
| Other Non-Operating Income (Expense) Other Non-Operating Income (Expense) represents any non-operating income or expense item that a company reports before taxes that would not be classified as any of the following: <br/>Components of Interest Income (Expense), Net Non-Operating<br/>Gain/Loss Sale of Assets<br/>Unrealized Gains/Losses<br/>Minimum Pension Liability Adjustment. | 0.78 | 0.40 | 1.56 | 1.23 | 0.14 | 0.22 | 0.39 | 0.10 | 0.01 | 0.01 |
| Other, Net Other, Net represents the sum of: <br/>Unrealized Gains (Losses)<br/>Minimum Pension Liability Adjustment<br/>Other Non-Operating Income (Expense). | 0.78 | 0.40 | 1.56 | 1.23 | 0.14 | 0.22 | 0.39 | 0.10 | 0.01 | 0.01 |
| Net Income Before Taxes Income Before Tax represents the sum of Operating Income and the following items for all companies other than banks: <br/>Interest Income (Expense), Net Non-Operating<br/>Gain (Loss) on Sale of Assets<br/>Allowance for Funds Used During Construction – Utility only<br/>Other, Net<br/><br/>For banks, Net Interest Income After Loan Loss Provision is adjusted by the following items:<br/>Non-Interest Income, Bank<br/>Non-Interest Expense, Bank | 301.25 | 199.32 | 199.01 | 347.97 | 346.72 | 137.13 | 146.68 | 124.65 | 79.51 | 103.33 |
| Income Tax – Total Income Tax – Total includes all taxes on the basis of profits that may be owed to federal, state and/or foreign government. These taxes do not include regressive taxes, such as sales taxes or excise taxes to state and federal government. | 69.13 | 37.52 | 75.60 | 127.10 | 126.39 | 50.83 | 54.90 | 46.23 | 30.12 | 37.63 |
| Income After Tax Income After Tax represents the sum of Income Tax – Total and Income Before Tax. | 232.12 | 161.80 | 123.41 | 220.87 | 220.33 | 86.30 | 91.78 | 78.41 | 49.40 | 65.70 |
| Minority Interest Minority Interest represents the share of earnings/losses in subsidiaries that belongs to shareholders other than the parent company when the parent company owns less than 100%, but more than 50%, of a subsidiary. Since the subsidiary’s financials are consolidated with the company, this value will be a negative number to represent the amount the company does not own. | -- | -- | -- | -- | 0.04 | 0.39 | 0.49 | 0.18 | 0.00 | 0.00 |
| Net Income Before Extraordinary Items Net Income Before Extraordinary Items represents net income before being adjusted by extraordinary items, such as: <br/>Accounting Change<br/>Discontinued Operations<br/>Extraordinary Item<br/>Taxes on Extraordinary Items | 232.12 | 161.80 | 123.41 | 220.87 | 220.37 | 86.69 | 92.27 | 78.60 | 49.40 | 65.70 |
| Extraordinary Item Extraordinary Item represents events and transactions that are distinguished by their unusual nature, by the infrequency of their occurrence, and the materiality of their impact on the earnings of the company. | 0.00 | 0.00 | 74.74 | 0.00 | -- | -- | -- | -- | -- | -- |
| Total Extraordinary Items Total Extraordinary Items represents the sum of: <br/>Accounting Change<br/>Discontinued Operations<br/>Extraordinary Item<br/>Tax on Extraordinary items. | 0.00 | 0.00 | 74.74 | 0.00 | -- | -- | -- | -- | -- | -- |
| Net Income Net Income represents the sum of Net Income Before Extraordinary Items and Total Extraordinary Items. | 232.12 | 161.80 | 198.15 | 220.87 | 220.37 | 86.69 | 92.27 | 78.60 | 49.40 | 65.70 |
| Miscellaneous Earnings Adjustment Miscellaneous Earnings Adjustment represents an adjustment applied to net earnings that is used to obtain a company’s calculated EPS. | -3.41 | -2.11 | -2.97 | -1.76 | -0.96 | -0.29 | -0.38 | -0.30 | -0.28 | -0.40 |
| Total Adjustments to Net Income Total Adjustments to Net Income represents the sum of: <br/>Preferred Dividends<br/>General Partners’ Distributions<br/>Miscellaneous Earnings Adjustments<br/>Pro Forma Adjustment<br/>Interest Adjustment – Primary EPS. | -3.41 | -2.11 | -2.97 | -1.76 | -0.96 | -0.29 | -0.38 | -0.30 | -0.28 | -0.40 |
| Income Available to Common Excluding Extraordinary Items Income Available to Common Excluding Extraordinary Items represents net income available to common stockholders, not including the effect of extraordinary items, and is used to calculate Basic EPS Excluding Extraordinary Items. | 228.70 | 159.70 | 120.45 | 219.11 | 219.41 | 86.40 | 91.89 | 78.30 | 49.12 | 65.30 |
| Income Available to Common Stocks Including Extraordinary Items Income Available to Common Stocks Including Extraordinary Items represents net income available to common stockholders, including extraordinary items, and is used to calculate Basic EPS Including Extraordinary Items. | 228.70 | 159.70 | 195.18 | 219.11 | 219.41 | 86.40 | 91.89 | 78.30 | 49.12 | 65.30 |
| Basic Weighted Average Shares Basic Weighted Average Shares represents the weighted average common shares outstanding less the dilution of stock options for a given period. These shares are used to calculate Basic EPS. | 16.03 | 15.94 | 16.07 | 16.47 | 16.92 | 17.73 | 18.94 | 19.08 | 18.94 | 19.41 |
| Basic EPS Excluding Extraordinary Items Basic EPS Excluding Extraordinary Items represents Income Available to Common Excluding Extraordinary Items divided by Basic Weighted Average Shares. | 14.27 | 10.02 | 7.49 | 13.31 | 12.97 | 4.87 | 4.85 | 4.10 | 2.59 | 3.36 |
| Basic EPS Including Extraordinary Items Basic EPS Including Extraordinary Items represents Income Available to Common Stocks Including Extraordinary Items divided byBasic Weighted Average Shares. | 14.27 | 10.02 | 12.14 | 13.31 | 12.97 | 4.87 | 4.85 | 4.10 | 2.59 | 3.36 |
| Dilution Adjustment Dilution Adjustment represents the adding back to reported net income the interest expense of debentures when assumed converted, and the adding back to the reported net income the convertible preferred dividends when assumed converted. The adjustment is used to calculate Diluted EPS. | -- | 0.00 | -- | -- | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted Net Income Diluted Net Income represents Net Income adjusted by Dilution Adjustment for Diluted EPS computation. Diluted Net Income assumes the conversion of all convertible preferred stock and debt, which means the net income will be adjusted for not paying out any interest expense or preferred dividends. | 228.70 | 159.70 | 195.18 | 219.11 | 219.49 | 86.40 | 91.90 | 78.31 | 49.12 | 65.30 |
| Diluted Weighted Average Shares Diluted Weighted Average Shares represents the number of shares for Diluted EPS computation. This is used as a denominator for computation of Diluted EPS Excluding Extraordinary Items and Diluted EPS Including Extraordinary Items. | 16.04 | 15.97 | 16.10 | 16.49 | 16.96 | 17.78 | 19.05 | 19.28 | 19.13 | 19.66 |
| Diluted EPS Excluding Extraordinary Items Diluted EPS Excluding Extraordinary Items represents Diluted Net Income excluding Total Extraordinary Items and divided by Diluted Weighted Average Shares. | 14.26 | 10.00 | 7.48 | 13.29 | 12.94 | 4.86 | 4.82 | 4.06 | 2.57 | 3.32 |
| Diluted EPS Including Extraordinary Items Diluted EPS Including Extraordinary Items represents Diluted Net Income divided by Diluted Weighted Average Shares. | 14.26 | 10.00 | 12.13 | 13.29 | 12.94 | 4.86 | 4.82 | 4.06 | 2.57 | 3.32 |
| DPS - Common Stock Primary Issue DPS – Common Stock Primary Issue represents dividends paid per share to the primary common shareholders. | 2.80 | 2.80 | 2.80 | 2.40 | 1.10 | -- | -- | -- | 0.00 | 0.75 |
| Gross Dividends - Common Stock Gross Dividends – Common Stock represents total dividends declared and paid to common shareholders for a period. It represents the gross amount of dividends, before taxes withheld for stockholders. | 45.55 | 45.25 | 45.72 | 39.81 | 46.46 | 43.72 | 41.79 | 38.60 | 0.00 | 14.94 |
| Total Special Items Total Special Items captures all of the unusual/one-time/special items that impact a company in any given period. | 3.68 | 0.00 | 35.25 | 0.00 | 0.00 | 43.28 | -- | -- | -- | -- |
| Normalized Income Before Taxes Normalized Income Before Taxes represents income before taxes excluding nonrecurring charges and/or credits. It represents the sum of Income Before Tax and Total Special Items. | 304.92 | 199.32 | 234.26 | 347.97 | 346.72 | 180.41 | 146.68 | 124.65 | 79.51 | 103.33 |
| Effect of Special Items on Income Taxes Effect of Special Items on Income Taxes represents the tax effect of non-recurring charges and/or credits. | 0.84 | 0.00 | 13.39 | 0.00 | 0.00 | 16.04 | -- | -- | -- | -- |
| Income Taxes Excluding Impact of Special Items Income Taxes Excluding Impact of Special Items represents the sum of Income Tax – Total and the Effect of Special Items on Income Taxes. | 69.97 | 37.52 | 88.99 | 127.10 | 126.39 | 66.87 | 54.90 | 46.23 | 30.12 | 37.63 |
| Normalized Income After Taxes Normalized Income After Taxes represents income after taxes excluding nonrecurring charges and/or credits and the related tax effects of excluding the non-recurring charges and/or credits. It is calculated by subtracting Income Taxes Except Impact of Special Items from Normalized Income Before Taxes. | 234.95 | 161.80 | 145.27 | 220.87 | 220.33 | 113.54 | 91.78 | 78.41 | 49.40 | 65.70 |
| Normalized Income Available to Common Normalized Income Available to Common represents the sum of Normalized Income After Taxes and Total Adjustments to Net Income. | 231.54 | 159.70 | 142.31 | 219.11 | 219.41 | 113.63 | 91.89 | 78.30 | 49.12 | 65.30 |
| Basic Normalized EPS Basic Normalized EPS represents Normalized Income Available to Common divided by Basic Weighted Average Shares. | 14.45 | 10.02 | 8.85 | 13.31 | 12.97 | 6.41 | 4.85 | 4.10 | 2.59 | 3.36 |
| Diluted Normalized EPS Diluted Normalized EPS represents Normalized Income Available to Common adjusted for Dilution Adjustment divided by Diluted Weighted Average Shares. | 14.43 | 10.00 | 8.84 | 13.29 | 12.94 | 6.39 | 4.82 | 4.06 | 2.57 | 3.32 |
| Depreciation, Supplemental Depreciation, Supplemental represents the accounting process of allocating the cost of tangible assets to expenses in a systematic and rational manner to those periods expected to benefit from the use of the assets. | 162.37 | 129.35 | 121.71 | 105.22 | 98.10 | 83.41 | 69.26 | 57.50 | 41.98 | 34.97 |
| Interest Expense, Supplemental Interest Expense, Supplemental represents interest expense that may be paid and/or imputed, and are reported net of interest capitalized. When interest expense is not reported on the income statement, it is obtained from the notes of the financial statement. | 72.33 | 53.76 | 38.99 | 28.84 | 26.51 | 21.21 | 9.62 | 9.24 | 7.18 | 2.52 |
| Interest Capitalized, Supplemental Interest Capitalized, Supplemental represents interest charges deferred to a company’s property, plant and equipment account, amortized over the life of the related assets. If Interest Capitalized, Supplemental is not provided on the income statement, it is obtained from the notes. It is always reported as a negative figure. | -4.47 | -- | -- | -- | -- | -- | -0.12 | -0.50 | -0.41 | 0.00 |
| Rental Expense, Supplemental Rental Expense, Supplemental represents rental expenses paid for offices, factories, machinery and equipment. | 5.82 | 12.70 | 9.00 | 8.10 | 7.90 | 8.81 | 13.10 | 8.32 | 8.34 | 8.74 |
| Stock-Based Compensation, Supplemental Stock-Based Compensation, Supplemental represents expense related to the adoption of FAS 123(R), “Share-Based Payment”. Stock-Based Compensation expense is measured at the grant date based on the fair value of the award and is recognized as expense over the employee requisite service period. | 18.23 | 15.10 | 13.86 | 9.39 | 10.47 | 16.72 | 9.82 | 4.07 | 4.74 | 4.44 |
| Advertising Expense, Supplemental Advertising Expense - Supplemental represents the cost of advertising, media and promotional expenses. It may include outsourced advertising expenses for marketing. | 29.10 | 28.80 | 20.90 | 13.60 | 12.70 | 6.02 | 4.16 | 4.20 | 5.16 | 4.74 |
| Equity in Affiliates, Supplemental Equity in Affiliates, Supplemental represents the share of earnings/losses that the company is entitled to from unconsolidated affiliated companies, but that has not been distributed as dividends. | -- | -- | -- | -- | -- | -- | -- | -- | 0.01 | 0.01 |
| Minority Interest, Supplemental Minority Interest, Supplemental represents the share of earnings/losses in subsidiaries that belongs to shareholders other than the parent company when the parent company owns less than 100%, but more than 50%, of a subsidiary. | -- | -- | -- | -- | 0.04 | 0.39 | 0.49 | 0.18 | 0.00 | -- |
| Audit-Related Fees, Supplemental Audit Fees, Supplemental comprise of fees for professional services necessary to perform an audit or review in accordance with the standards of the Public Company Accounting Oversight Board, including services rendered for the audit of the Company’s annual financial statements (including services incurred with rendering an opinion under Section 404 of the Sarbanes-Oxley Act of 2002) and review of quarterly financial statements. | -- | 0.82 | -- | -- | 0.74 | 0.87 | 0.64 | 0.66 | 0.63 | 0.55 |
| Audit-Related Fees Audit-Related Fees, Supplemental comprise fees for services that are reasonably related to the performance of the audit or review of the Company’s financial statements. | -- | 0.69 | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Tax Fees, Supplemental Tax Fees, Supplemental comprise of fees for tax compliance, tax planning, and tax advice. Corporate tax services encompass a variety of permissible services. | -- | 0.00 | -- | -- | 0.13 | 0.06 | 0.06 | 0.11 | 0.17 | 0.10 |
| All Other Fees Paid to Auditor, Supplemental All Other Fees Paid to Auditor, Supplemental represents other professional fees paid to the Auditor by the company not classified as: <br/>Audit Fees, Supplemental<br/>Audit-Related Fees, Supplemental<br/>Tax Fees, Supplemental. | -- | 0.00 | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Gross Margin Gross Margin represents Gross Profit divided by Revenue. | 71.78 | 67.27 | 69.57 | 73.22 | 70.42 | 56.82 | 53.06 | 50.25 | 46.99 | 53.90 |
| Operating Margin Operating Margin represents Operating Income divided by Total Revenue. | 19.57 | 14.60 | 15.26 | 27.02 | 29.45 | 13.84 | 15.53 | 14.56 | 10.97 | 15.77 |
| Pretax Margin Pretax Margin represents Income Before Tax divided by Total Revenue. | 16.36 | 11.95 | 13.17 | 25.23 | 27.47 | 12.06 | 14.72 | 13.72 | 10.21 | 15.57 |
| Effective Tax Rate Effective Tax Rate represents Income Tax – Total divided by Income Before Tax. | 22.95 | 18.82 | 37.99 | 36.53 | 36.45 | 37.07 | 37.43 | 37.09 | 37.88 | 36.42 |
| Net Profit Margin Net Profit Margin represents Income Available to Common Excluding Extraordinary Items divided by Total Revenue. | 12.42 | 9.58 | 7.97 | 15.89 | 17.38 | 7.60 | 9.22 | 8.62 | 6.30 | 9.84 |
| Normalized EBIT Normalized Earnings before Interest and Taxes represents the sum of: <br/>Operating Income<br/>Interest Expense (Income), Net Operating<br/>Unusual Expense (Income)<br/>Loss (Gain) on Sale of Assets – Operating. | 363.95 | 243.46 | 265.88 | 372.57 | 371.70 | 200.63 | 154.74 | 132.30 | 85.44 | 104.66 |
| Normalized EBITDA Normalized Earnings before Interest, Taxes, Depreciation and Amortization represents the sum of: <br/>Operating Income<br/>Interest Expense (Income), Net Operating<br/>Unusual Expense (Income)<br/>Loss (Gain) on Sale of Assets – Operating<br/>Depreciation, Supplemental<br/>Amortization of Acquisition Costs, Supplemental<br/>Amortization of Intangibles, Supplemental. | 526.32 | 372.81 | 387.60 | 477.78 | 469.80 | 284.03 | 224.00 | 189.81 | 127.42 | 139.62 |
| Current Tax - Domestic Current Tax – Domestic reflects the portion of a company’s current income tax provision attributable to its domestic tax jurisdiction. | -0.03 | -3.71 | -44.39 | 89.01 | 108.12 | 53.16 | 52.73 | 36.41 | 16.92 | 32.08 |
| Current Tax - Foreign Current Tax – Foreign reflects the portion of a company’s current income tax provision attributable to non-domestic tax jurisdictions. | 0.53 | 1.09 | 0.56 | 1.26 | 1.00 | 0.85 | -- | -- | -- | -- |
| Current Tax - Local Current Tax – Local reflects the portion of a company’s current income tax provision attributable to local tax jurisdictions. Current Tax – Local does not include current provisions for federal or national income taxes. | 0.51 | -0.65 | 0.66 | 5.20 | 6.50 | 4.65 | 4.11 | 3.46 | 2.89 | 2.61 |
| Current Tax - Total Current Tax – Total reflects the sum of Current Tax – Domestic, Current Tax – Foreign, Current Tax – Local, Current Tax – Other and Current Tax – Total. | 1.00 | -3.27 | -43.16 | 95.48 | 115.62 | 58.66 | 56.85 | 39.87 | 19.81 | 34.69 |
| Deferred Tax - Domestic Deferred Tax – Domestic reflects the portion of a company’s deferred income tax provision attributable to its domestic tax jurisdiction. Deferred tax provisions are established to account for changes in deferred tax asset and liability accounts within a given period. | 63.43 | 41.59 | 115.75 | 28.65 | 9.46 | -8.56 | -1.81 | 6.08 | 9.98 | 3.03 |
| Deferred Tax - Foreign Deferred Tax – Foreign reflects the portion of a company’s deferred income tax provision attributable to non-domestic tax jurisdictions. Deferred tax provisions are established to account for changes in deferred tax asset and liability accounts within a given period. | 0.00 | -4.55 | 1.03 | 1.27 | 1.19 | 0.98 | -- | -- | 0.32 | -0.09 |
| Deferred Tax - Local Deferred Tax – Local reflects the portion of a company’s deferred income tax provision attributable to local tax jurisdictions. Deferred tax provisions are established to account for changes in deferred tax asset and liability accounts within a given period. It does not include deferred provisions for federal or national income taxes. | 4.70 | 3.74 | 1.98 | 1.70 | 0.13 | -0.25 | -0.13 | 0.28 | -- | -- |
| Deferred Tax - Total Deferred Tax – Total reflects the sum of Deferred Tax – Domestic, Deferred Tax – Foreign, Deferred Tax – Local, Deferred Tax – Other and Deferred Tax – Total. | 68.13 | 40.79 | 118.76 | 31.62 | 10.77 | -7.83 | -1.95 | 6.36 | 10.31 | 2.94 |
| Income Tax - Total Income Tax – Total reflects the sum of Domestic Tax - Other, Foreign Tax – Other, Local Tax – Other and Other Tax. | 69.13 | 37.52 | 75.60 | 127.10 | 126.39 | 50.83 | 54.90 | 46.23 | 30.12 | 37.63 |
| Defined Contribution Expense - Domestic Defined Contribution Expense – Domestic represents funds contributed to benefit plans during reported period. | 19.00 | 19.10 | -- | -- | 4.20 | 3.41 | 2.88 | 2.54 | 2.00 | 1.65 |
| Total Pension Expense Total Pension Expense represents the following: <br/>Defined Contribution Expense – Domestic<br/>Defined Contribution Expense – Foreign<br/>Defined Contribution Expense – Post-Retirement. | 19.00 | 19.10 | -- | -- | 4.20 | 3.41 | 2.88 | 2.54 | 2.00 | 1.65 |
| Revenue Passengers Revenue Passengers represents the total number of paying passengers flown on all flight segments. | 15,012,149.00 | 13,750,199.00 | 12,310,122.00 | 11,128,191.00 | 9,500,611.00 | 8,154,357.00 | 7,241,063.00 | 6,987,324.00 | 6,175,808.00 | 5,903,184.00 |
| Revenue Passengers Kilometers (RPK) Revenue Passengers Kilometers (RPK) captures the total distance flown by the airline’s revenue passengers in kilometers. This is a measure of total passenger traffic for an airline. | 20,982.58 | 19,806.54 | 17,874.57 | 16,548.56 | 14,395.47 | 12,594.63 | 11,473.65 | 10,483.33 | 9,077.61 | 8,797.03 |
| Available Seat Kilometers (ASK) Available Seat Kilometers (ASK) captures the total flight passenger capacity of an airline in kilometers. It is obtained by multiplying the total number of seats available for scheduled passengers and the total number of kilometers those seats were flown. | 26,029.85 | 23,978.96 | 21,906.34 | 19,916.40 | 16,940.89 | 14,396.54 | 13,109.90 | 12,049.57 | 10,242.23 | 10,052.81 |
| Load Factor, Total -% Load Factor, Total - % represents the Company level Load Factor percentage that is reported by the company. It represents the percentage of aircraft seating capacity that is actually utilized, and is obtained using revenue passenger miles/kilometers, divided by available seat miles/kilometers. | 80.61 | 82.60 | 81.60 | 83.10 | 85.00 | 87.50 | 87.50 | 87.00 | 88.60 | 87.50 |
| Revenue per ASK Revenue per ASK captures the revenue earned by each available seat kilometer of an airline. It is obtained by using total revenues divided by the total available seat kilometers of an airline. | -- | -- | -- | -- | -- | -- | -- | -- | 0.13 | 0.11 |
| Passenger Haul, Average Length (Kilometers) Passenger Haul, Average Length (Kilometers) captures the average distance traveled by a scheduled fare paying passenger of the airline in kilometers. | 1,397.71 | 1,440.46 | 1,452.02 | 1,487.08 | 1,515.22 | 1,544.53 | 1,584.53 | 1,500.34 | 1,469.87 | 1,490.22 |
| Aircraft Stage, Average Length (Kilometers) Aircraft Stage, Average Length (Kilometers) captures the average distance flown per flight of an airline in kilometers. | 1,375.99 | 1,396.91 | 1,400.13 | 1,430.70 | 1,448.41 | 1,477.37 | 1,501.51 | 1,403.34 | 1,380.81 | 1,406.56 |
| Number of Trips Flown (Departures) Number of Trips Flown (Departures) represents the number of takeoffs made at an airport. | 110,542.00 | 101,212.00 | 93,061.00 | 82,341.00 | 68,653.00 | 56,961.00 | 51,083.00 | 53,615.00 | 49,360.00 | 47,986.00 |
| Average Passenger Fare, Total Average Passenger Fare, Total represents the Company level Average Passenger Fare as reported by the company. It shows the average one-way fare paid per flight segment by a revenue passenger. | 118.26 | 116.99 | 117.38 | 117.95 | 129.35 | 137.23 | 137.43 | 130.10 | 125.51 | 110.85 |
| Passenger Revenue per RPK Passenger Revenue per RPK captures the total passenger revenues earned per revenue passenger kilometer traveled by the airline. It is obtained using passenger revenue divided by total revenue passenger kilometers | 0.08 | 0.08 | 0.08 | -- | -- | -- | -- | -- | -- | -- |
| Passenger Revenue per ASK Passenger Revenue per ASK captures the total passenger revenues earned per available seat kilometer of the airline. It is obtained using passenger revenues divided by total available seat kilometers. | 0.06 | 0.06 | 0.06 | -- | -- | -- | -- | -- | -- | -- |
| Operating Revenue per ASK Operating Revenue per ASK captures the total operating revenues earned per available seat kilometer of the airline. It is obtained using total operating revenues divided by total available seat kilometers. | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.07 |
| Operating Expense per ASK Operating Expense per ASK captures the total operating expenses incurred per available seat kilometer of the airline. It is obtained using total operating expenses divided by total available seat kilometers. | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.07 | 0.06 | 0.06 | 0.07 | 0.06 |
| Operating Expense per ASK, excluding Fuel Operating Expense per ASK, excluding Fuel captures the total operating expenses, less aircraft fuel, incurred per available seat kilometer of the airline. It is obtained using total operating expenses, less aircraft fuel, divided by total available seat kilometers. | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.03 |
| Fuel Cost per Liter Fuel Cost per Liter captures the unit cost of each liter of fuel consumed by the airline. This is obtained using total aircraft fuel costs (excluding fuel taxes) divided by the total number of fuel liters consumed. | 0.58 | 0.62 | 0.49 | 0.39 | 0.49 | 0.80 | 0.85 | 0.84 | 0.81 | 0.61 |
| Fuel Consumed, Liters Fuel Consumed, Liters captures the total volume of fuel consumed by the airlines, in liters. | 743.61 | 724.80 | 706.22 | 654.10 | 567.63 | 488.06 | 456.05 | 449.85 | 407.37 | 401.61 |
| Average Number of Operating Aircraft Average Number of Operating Aircraft represents the average number of aircrafts used by an airline during a period of time. This is obtained using the number of aircraft in use, divided by a given period of time. | 85.60 | 91.00 | 87.30 | 83.30 | 74.30 | 68.80 | 62.90 | 60.20 | 52.20 | 49.00 |
| Number of Hours Flown Number of Hours Flown represents the block hours or the number of hours which elapsed between the time the aircraft started to move tocommence a flight, and the time the aircraft came to its final stop after the conclusion of a flight. | 248,513.00 | 230,123.00 | 212,405.00 | 190,706.00 | 160,431.00 | 135,572.00 | 125,449.00 | 124,610.00 | 113,691.00 | 111,739.00 |
In millions of USD (except for per share items)
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