Overview Financials News + Filings IR Vault Key Docs Charts Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 8-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Airline | | 26,670.0 | 15,945.0 | 46,910.0 | 43,890.0 | 40,636.0 | | 40,398.0 |
| Refinery | | 6,054.0 | 3,143.0 | 5,558.0 | 5,458.0 | 5,039.0 | | 4,741.0 |
| Total revenues [+] | 50,582.0 | 29,899.0 | 17,095.0 | 47,007.0 | 44,438.0 | 41,138.0 | 39,450.0 | 40,704.0 |
| Passenger | | | | | | | | 34,782.0 |
| Cargo & freight | | | | | | | | 813.0 |
| Other | 9,314.0 | | | | | | | 5,109.0 |
| Revenue growth [+] | 69.2% | 74.9% | -63.6% | 5.8% | 8.0% | 4.3% | -3.1% | 0.8% |
| Airline | | 67.3% | -66.0% | 6.9% | 8.0% | | | 0.5% |
| Refinery | | 92.6% | -43.5% | 1.8% | 8.3% | | | -31.9% |
| Cost of goods sold [+] | 14,591.0 | 21,703.0 | 17,366.0 | 27,940.0 | 28,010.0 | 26,455.0 | 24,602.0 | 26,057.0 |
| Labor costs | | 9,728.0 | 9,001.0 | 11,601.0 | 10,743.0 | 10,058.0 | 9,394.0 | 8,776.0 |
| Sales commissions and fees | 11,902.0 | | | | | | | |
| Fuel costs | | 5,633.0 | 3,176.0 | 8,519.0 | 9,020.0 | 6,756.0 | 5,985.0 | 6,544.0 |
| Lease costs | 2,689.0 | 2,449.0 | 2,232.0 | 2,599.0 | 2,056.0 | 1,852.0 | 1,757.0 | 1,743.0 |
| Airline capacity purchase arrangements | | 1,736.0 | 1,584.0 | 2,158.0 | 3,438.0 | 3,466.0 | 3,447.0 | 4,241.0 |
| Aircraft maintenance, materials and repairs | | 1,401.0 | 822.0 | 1,751.0 | 1,575.0 | 1,591.0 | 1,434.0 | 1,848.0 |
| Aircraft rental | 508.0 | 430.0 | 399.0 | 423.0 | 394.0 | 351.0 | 285.0 | 250.0 |
| Landing fees and other rentals | 2,181.0 | 2,019.0 | 1,833.0 | 2,176.0 | 1,662.0 | 1,501.0 | 1,472.0 | 1,493.0 |
| Catering costs | | 756.0 | 551.0 | 1,312.0 | 1,178.0 | 1,123.0 | 964.0 | 872.0 |
| Other direct costs | | | | | | 1,609.0 | 1,621.0 | 2,033.0 |
| Gross profit | 35,991.0 | 8,196.0 | -271.0 | 19,067.0 | 16,428.0 | 14,683.0 | 14,848.0 | 14,647.0 |
| Gross margin | 71.2% | 27.4% | -1.6% | 40.6% | 37.0% | 35.7% | 37.6% | 36.0% |
| Selling, general and administrative [+] | 1,983.0 | 1,061.0 | 643.0 | 3,854.0 | 3,242.0 | 2,892.0 | 2,866.0 | 3,162.0 |
| Sales and marketing | | 953.0 | 643.0 | 2,211.0 | 1,941.0 | 1,827.0 | 1,751.0 | 1,672.0 |
| General and administrative | | 108.0 | | 1,643.0 | 1,301.0 | 1,065.0 | | |
| Other selling, general and administrative | | | | | | | 1,115.0 | 1,490.0 |
| Other operating expenses | 28,364.0 | 3,270.0 | 1,024.0 | 6,014.0 | 5,593.0 | 3,603.0 | 3,100.0 | 1,848.0 |
| EBITDA [+] | 5,644.0 | 3,865.0 | -1,938.0 | 9,199.0 | 7,593.0 | 8,188.0 | 8,882.0 | 9,637.0 |
| EBITDA growth | 46.0% | -299.4% | -121.1% | 21.2% | -7.3% | -7.8% | -7.8% | 105.3% |
| EBITDA margin | 11.2% | 12.9% | -11.3% | 19.6% | 17.1% | 19.9% | 22.5% | 23.7% |
| Depreciation | 2,107.0 | 1,988.0 | 2,302.0 | 2,570.0 | 2,312.0 | 2,205.0 | 1,869.0 | 1,817.0 |
| EBITA | 3,537.0 | 1,877.0 | -4,240.0 | 6,629.0 | 5,281.0 | 5,983.0 | 7,013.0 | 7,820.0 |
| EBITA margin | 7.0% | 6.3% | -24.8% | 14.1% | 11.9% | 14.5% | 17.8% | 19.2% |
| Amortization of intangibles | | 10.0 | 10.0 | 11.0 | 17.0 | 17.0 | 17.0 | 18.0 |
| EBIT [+] | 3,537.0 | 1,867.0 | -4,250.0 | 6,618.0 | 5,264.0 | 5,966.0 | 6,996.0 | 7,802.0 |
| EBIT growth | 89.4% | -143.9% | -164.2% | 25.7% | -11.8% | -14.7% | -10.3% | 167.0% |
| EBIT margin | 7.0% | 6.2% | -24.9% | 14.1% | 11.8% | 14.5% | 17.7% | 19.2% |
| Non-recurring items [+] | -124.0 | -19.0 | 8,219.0 | | | | | |
| Restructuring charges | -124.0 | -19.0 | 8,219.0 | | | | | |
| Interest expense | 1,029.0 | 1,279.0 | 929.0 | 301.0 | 311.0 | 396.0 | 388.0 | 481.0 |
| Interest expense | 1,029.0 | 1,279.0 | 929.0 | 301.0 | 311.0 | 396.0 | 388.0 | 481.0 |
| Other income (expense), net [+] | -718.0 | -209.0 | -2,189.0 | -119.0 | 198.0 | -70.0 | -255.0 | -164.0 |
| Gain (loss) on investments | | | | | 38.0 | | | |
| Gain (loss) on debt retirement | -100.0 | -319.0 | -8.0 | | | | | |
| Other | 1,824.0 | -60.0 | 137.0 | -111.0 | 220.0 | -70.0 | -255.0 | -164.0 |
| Pre-tax income | 1,914.0 | 398.0 | -15,587.0 | 6,198.0 | 5,151.0 | 5,500.0 | 6,353.0 | 7,157.0 |
| Income taxes | 596.0 | 118.0 | -3,202.0 | 1,431.0 | 1,216.0 | 2,295.0 | 2,158.0 | 2,631.0 |
| Tax rate | 31.1% | 29.6% | 20.5% | 23.1% | 23.6% | 41.7% | 34.0% | 36.8% |
| Net income | 1,318.0 | 280.0 | -12,385.0 | 4,767.0 | 3,935.0 | 3,205.0 | 4,195.0 | 4,526.0 |
| Net margin | 2.6% | 0.9% | -72.4% | 10.1% | 8.9% | 7.8% | 10.6% | 11.1% |
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| Basic EPS [+] | $2.07 | $0.44 | ($19.47) | $7.32 | $5.69 | $4.45 | $5.59 | $5.68 |
| Growth | 369.2% | -102.3% | -365.9% | 28.6% | 27.9% | -20.3% | -1.6% | 620.4% |
| Diluted EPS [+] | $2.06 | $0.44 | ($19.47) | $7.30 | $5.67 | $4.43 | $5.56 | $5.63 |
| Growth | 370.7% | -102.2% | -366.8% | 28.7% | 27.9% | -20.2% | -1.3% | 621.8% |
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| Dividends per share [+] | | | $0.40 | $1.51 | $1.31 | $1.02 | $0.68 | $0.45 |
| Growth | | -100.0% | -73.5% | 15.3% | 28.4% | 50.0% | 51.1% | 50.0% |
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| Shares outstanding (basic) [+] | 638.0 | 636.0 | 636.0 | 651.0 | 691.0 | 720.0 | 751.0 | 797.0 |
| Growth | 0.3% | 0.0% | -2.3% | -5.8% | -4.0% | -4.1% | -5.8% | -4.7% |
| Shares outstanding (diluted) [+] | 641.0 | 641.0 | 636.0 | 653.0 | 694.0 | 723.0 | 755.0 | 804.0 |
| Growth | 0.0% | 0.8% | -2.6% | -5.9% | -4.0% | -4.2% | -6.1% | -4.9% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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