Alaska Air Group, Inc. (NYSE: ALK) today reported fourth quarter 2015 GAAP net income of USD191 million, or USD1.51 per diluted share, compared to GAAP net income of USD148 million, or USD1.11 per diluted share in 2014, the company said.
Excluding mark-to-market fuel hedge losses of USD1 million (USD1 million after tax, or USD0.01 per diluted share), a non-cash pension settlement charge and a litigation-related matter of USD32 million in aggregate (USD20 million after tax, or USD0.16 per diluted share), and a tax benefit of USD26 million related to amended multiple-year state tax returns, the company recorded fourth quarter 2015 net income of USD186 million, or USD1.46 per diluted share. This result compares to net income, excluding mark-to-market fuel hedge gains and special items, of USD125 million, or USD0.94 per diluted share, in 2014.
The company reported full-year 2015 GAAP net income of USD848 million, compared to USD605 million in the prior year. Excluding the impact of the items noted in the table below, the company reported record net income of USD842 million, or USD6.51 per diluted share for 2015, compared to net income of USD571 million, or USD4.18 per diluted share in 2014.
Alaska Airlines, a subsidiary of Alaska Air Group (NYSE: ALK), together with its partner regional airlines, serves more than 100 cities through an expansive network in the United States, Canada, Mexico and Costa Rica.