filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The following tables are derived from our audited Consolidated Financial Statements and present selected financial and operating data for the years ended December 31, 2016, 2015, 2014, 2013 and 2012.
Consolidated Summary of Operations
| Year Ended December 31, | |||||||||||||||
| (in millions, except share data) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||
| Operating revenue | $ | 39,639 | $ | 40,704 | $ | 40,362 | $ | 37,773 | $ | 36,670 | |||||
| Operating expense | 32,687 | 32,902 | 38,156 | 34,373 | 34,495 | ||||||||||
| Operating income | 6,952 | 7,802 | 2,206 | 3,400 | 2,175 | ||||||||||
| Non-operating expense, net | (316 | ) | (645 | ) | (1,134 | ) | (873 | ) | (1,150 | ) | |||||
| Income before income taxes | 6,636 | 7,157 | 1,072 | 2,527 | 1,025 | ||||||||||
| Income tax (provision) benefit | (2,263 | ) | (2,631 | ) | (413 | ) | 8,013 | (16 | ) | ||||||
| Net income | $ | 4,373 | $ | 4,526 | $ | 659 | $ | 10,540 | $ | 1,009 | |||||
| Basic earnings per share | $ | 5.82 | $ | 5.68 | $ | 0.79 | $ | 12.41 | $ | 1.20 | |||||
| Diluted earnings per share | $ | 5.79 | $ | 5.63 | $ | 0.78 | $ | 12.29 | $ | 1.19 | |||||
| Cash dividends declared per share | $ | 0.68 | $ | 0.45 | $ | 0.30 | $ | 0.12 | $ | — |
Special Items
| Year Ended December 31, | |||||||||||||||
| (in millions) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||
| MTM adjustments and settlements | $ | 450 | $ | 1,301 | $ | (2,346 | ) | $ | 276 | $ | 27 | ||||
| Restructuring and other | — | (35 | ) | (716 | ) | (424 | ) | (452 | ) | ||||||
| Loss on extinguishment of debt | — | — | (268 | ) | — | (118 | ) | ||||||||
| Virgin Atlantic MTM adjustments | 115 | 26 | (134 | ) | — | — | |||||||||
| Release of tax valuation allowance and intraperiod income tax allocation | — | — | — | 7,989 | — | ||||||||||
| Total income (loss) | $ | 565 | $ | 1,292 | $ | (3,464 | ) | $ | 7,841 | $ | (543 | ) |
Consolidated Balance Sheet Data
| December 31, | |||||||||||||||
| (in millions) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||
| Total assets | $ | 51,261 | $ | 53,134 | $ | 54,005 | $ | 52,104 | $ | 43,933 | |||||
| Long-term debt and capital leases (including current maturities) | $ | 7,332 | $ | 8,329 | $ | 9,661 | $ | 11,194 | $ | 12,555 | |||||
| Stockholders' equity (deficit) | $ | 12,287 | $ | 10,850 | $ | 8,813 | $ | 11,643 | $ | (2,131 | ) |
Other Financial and Statistical Data (Unaudited)
| Year Ended December 31, | |||||||||||||||
| Consolidated**(1)** | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||
| Revenue passenger miles (in millions) | 213,098 | 209,625 | 202,925 | 194,988 | 192,974 | ||||||||||
| Available seat miles (in millions) | 251,867 | 246,764 | 239,676 | 232,740 | 230,415 | ||||||||||
| Passenger mile yield | 15.85 | ¢ | 16.59 | ¢ | 17.22 | ¢ | 16.89 | ¢ | 16.46 | ¢ | |||||
| Passenger revenue per available seat mile | 13.41 | ¢ | 14.10 | ¢ | 14.58 | ¢ | 14.15 | ¢ | 13.78 | ¢ | |||||
| Operating cost per available seat mile | 12.98 | ¢ | 13.33 | ¢ | 15.92 | ¢ | 14.77 | ¢ | 14.97 | ¢ | |||||
| Passenger load factor | 84.6 | % | 84.9 | % | 84.7 | % | 83.8 | % | 83.8 | % | |||||
| Fuel gallons consumed (in millions) | 4,016 | 3,988 | 3,893 | 3,828 | 3,769 | ||||||||||
| Average price per fuel gallon(2) | $ | 1.49 | $ | 1.90 | $ | 3.47 | $ | 3.00 | $ | 3.25 | |||||
| Full-time equivalent employees, end of period | 83,756 | 82,949 | 79,655 | 77,755 | 73,561 |
| (1) | Includes the operations of our regional carriers under capacity purchase agreements. Full-time equivalent employees exclude employees of regional carriers that we do not own. |
| (2) | Includes the impact of fuel hedge activity and refinery segment results. |
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