Alaska Air Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	150	395	235	58	478	-1,324	Upgrade
Depreciation & Amortization	739	536	426	398	394	420	Upgrade
Other Amortization	47	47	25	17	-	-	Upgrade
Asset Writedown & Restructuring Costs	-	-	-	-	-10	847	Upgrade
Stock-Based Compensation	-1	63	85	42	51	24	Upgrade
Other Operating Activities	-22	-70	422	496	-1	-	Upgrade
Change in Accounts Receivable	-69	-128	-19	-45	-69	-168	Upgrade
Change in Unearned Revenue	301	179	62	156	171	461	Upgrade
Change in Income Taxes	-	-	-	295	3	8	Upgrade
Change in Other Net Operating Assets	148	307	-267	-21	-91	-202	Upgrade
Operating Cash Flow	1,338	1,464	1,050	1,418	1,030	-234	Upgrade
Operating Cash Flow Growth	17.68%	39.43%	-25.95%	37.67%	-	-	Upgrade
Capital Expenditures	-1,392	-1,281	-1,494	-1,671	-292	-222	Upgrade
Sale of Property, Plant & Equipment	-	-	-	-	2	279	Upgrade
Cash Acquisitions	-	-659	-	-	-	-	Upgrade
Investment in Securities	12	929	616	455	-706	-644	Upgrade
Other Investing Activities	186	377	-86	-2	-12	-6	Upgrade
Investing Cash Flow	-1,194	-634	-964	-1,218	-1,008	-593	Upgrade
Long-Term Debt Issued	-	2,310	411	-	363	2,564	Upgrade
Long-Term Debt Repaid	-	-1,915	-282	-385	-1,334	-565	Upgrade
Net Debt Issued (Repaid)	319	395	129	-385	-971	1,999	Upgrade
Repurchase of Common Stock	-789	-312	-137	-	-	-31	Upgrade
Common Dividends Paid	-	-	-	-	-	-45	Upgrade
Other Financing Activities	92	36	-139	60	57	58	Upgrade
Financing Cash Flow	-378	119	-147	-325	-914	1,981	Upgrade
Net Cash Flow	-234	949	-61	-125	-892	1,154	Upgrade
Free Cash Flow	-54	183	-444	-253	738	-456	Upgrade
Free Cash Flow Margin	-0.38%	1.56%	-4.26%	-2.62%	11.95%	-12.79%	Upgrade
Free Cash Flow Per Share	-0.44	1.43	-3.45	-1.98	5.82	-3.69	Upgrade
Cash Interest Paid	218	148	105	71	109	50	Upgrade
Cash Income Tax Paid	20	22	15	-	48	-	Upgrade
Levered Free Cash Flow	132.25	1,001	-845.5	-4.5	264.25	-1,266	Upgrade
Unlevered Free Cash Flow	269.13	1,090	-786.75	54.25	337.38	-1,211	Upgrade
Change in Working Capital	425	493	-143	407	118	-201	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.