Downloaded the quarterly results. In case you're interested, here are the actual numbers...
SWA income before taxes - $515 million
Current quarterly gains from fuel hedges - $225 million (before taxes)
SWA income from unrealized SFAS 133 gains/losses - $96 million (before taxes)
$515 - $225 - $96 = $194 million profit (before taxes).
At approximately 30% tax, net income would be $135 million.
Since SWA also paid out approximately $25 million more in profit sharing due to hedging gains, that would bring the total profit to around $160 million.
SWA has also started purchasing hedges into 2010. Not sure how the cost of those contracts is accounted for in the current quarter.
Last edited by LuvJockey; 07-26-2006 at 06:45 AM.