Income Statement

Quarterly Annual

Selected Quarter:

31-Dec
2020

Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers

100%

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Passenger revenue	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	838,065	994,430	973,353	951,757	753,550	130,817	392,744	488,422	1,765,533	1,953,688
Non-ticket revenue	$45,679	$45,679	$45,679	$45,679	$45,679	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenue	-	-	-	-	-	-	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	17,731	18,526	18,615	18,059	17,531	7,712	9,178	10,068	44,489	40,272
Total Revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$855,796	$1,012,956	$991,968	$969,816	$771,081	$138,529	$401,922	$498,490	$1,810,022	$1,993,960

Selected Quarter:

31-Dec
2020

Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells

131.6%

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Aircraft fuel	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	229,636	265,006	253,847	244,989	213,208	19,910	94,285	103,597	431,000	414,388
Aircraft rent	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,782	46,522	40,026	50,279	45,146	49,256	49,379	52,578	196,359	210,312
Landing fees and other rents	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	59,649	64,711	69,142	62,773	67,121	40,348	76,526	67,033	251,028	268,132
Distribution	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	35,719	40,602	39,160	38,289	33,743	11,352	17,882	22,082	85,059	88,328
Maintenance materials and repairs	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	31,604	34,688	36,152	41,131	34,076	19,227	28,213	29,711	111,227	118,844
Special charges (credits)	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	-	-	-	-	-	(151,911)	(148,308)	(2,542)	(302,761)	(10,168)
Salaries wages and benefits	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	203,901	216,375	224,069	220,674	240,480	213,579	228,370	227,405	909,834	909,620
Depreciation and amortization	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	50,726	54,913	57,712	61,913	65,991	69,113	71,351	72,133	278,588	288,532
Gain or loss on sale of assets	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	1,913	1,550	13,410	477	-	-	-	-	2,264	-
Other expenses	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	-	-	222	276	-	-	-	-	-	-
Other operating	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	109,062	124,651	133,769	123,950	129,308	58,039	83,695	84,144	355,186	336,576
Total operating expenses	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	$767,992	$849,018	$867,287	$845,192	$829,073	$328,913	$501,393	$658,405	$2,317,784	$2,633,620

Selected Quarter:

31-Dec
2020

Income after excluding Operating Expenses from Total Revenue

32.1%

Key metric that shows earnings potential of the company's business model

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Operating income	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$87,804	$163,938	$124,681	$124,624	($57,992)	($190,384)	($99,471)	($159,915)	($507,762)	($639,660)

Selected Quarter:

31-Dec
2020

Cost usually unrelated to delivering service or manufacturing a product that business sells

0.0%

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter:	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Special charges (credits) - non-operating	-	-	-	-	-	-	45,679	45,679	45,679	-	45,679	45,679	45,679	45,679	-	-	-	-	-	-	-	-	-	-
Other expense or income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	233	144	222	276	(19)	66	77	87	211	348
Total non-operating income (expense)	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	233	144	222	-	(19)	66	77	87	211	348

Selected Quarter:

31-Dec
2020

Income after excluding Operating and Non-operating Expenses from Total Revenue

32.1%

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
EBIT	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$88,037	$164,082	$124,903	$124,624	($58,011)	($190,318)	($99,394)	($159,828)	($507,551)	($639,312)

Selected Quarter:

31-Dec
2020

Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure

0.5%

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Interest expense	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	24,971	25,266	25,138	25,975	23,878	27,792	33,435	49,415	134,520	197,660
Capitalized interest	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(2,557)	(2,975)	(3,400)	(3,539)	(3,664)	(3,757)	(4,009)	(4,565)	(15,995)	(18,260)
Interest income	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	(6,924)	(7,066)	(6,292)	(4,851)	(3,593)	(1,949)	(454)	(318)	(6,314)	(1,272)
Total other expense or income	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	15,723	15,369	15,668	17,861	16,602	22,152	29,049	44,619	112,422	178,476
Income before income taxes	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	72,081	148,569	109,013	106,763	(74,594)	(212,536)	(128,520)	(204,534)	(620,184)	(818,136)
Income tax expense or benefit	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	16,005	34,068	25,549	25,549	(46,766)	(68,108)	(29,380)	(47,230)	(191,484)	(188,920)

Selected Quarter:

31-Dec
2020

Ultimate measure of Income - Net result after excluding all expenses from Total Revenue

31.6%

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net income (loss)	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$56,076	$114,501	$83,464	$81,214	($27,828)	($144,428)	($99,140)	($157,304)	($428,700)	($629,216)

Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective

	2015 30-Sep	2016 10-Feb	2016 31-Mar	2016 30-Jun	2016 18-Oct	2017 06-Feb	2017 20-Apr	2017 20-Jul	2017 19-Oct	2018 06-Feb	2018 19-Apr	2018 19-Jul	2018 18-Oct	2019 06-Feb	2019 17-Apr	2019 18-Jul	2019 17-Oct	2020 28-Jan	2020 29-Apr	2020 15-Jul	2020 20-Oct	2021 03-Feb	2021 03-Feb	2021 03-Feb
Common	-	45,678,795	-	-	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	45,678,795	68,438,785	68,440,856	68,448,433	68,455,011	68,539,976	88,671,536	97,678,265	97,783,282	97,783,282	97,783,282

Selected Quarter:

31-Dec
2020

Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)

	2015 30-Sep	2015 31-Dec	2016 31-Mar	2016 30-Jun	2016 30-Sep	2016 31-Dec	2017 31-Mar	2017 30-Jun	2017 30-Sep	2017 31-Dec	2018 31-Mar	2018 30-Jun	2018 30-Sep	2018 31-Dec	2019 31-Mar	2019 30-Jun	2019 30-Sep	2019 31-Dec	2020 31-Mar	2020 30-Jun	2020 30-Sep	Selected Quarter: 2020 31-Dec	Last Twelve Months LTM 2020 31-Dec	Last Quarter Annualized LQA 2020 31-Dec
Net Income per basic share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$0.82	$1.67	$1.22	$1.19	($0.41)	($1.81)	($1.07)	($1.68)	($5.06)	($6.72)
Net Income per diluted share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	-	$45,678,795.00	$45,678,795.00	$45,678,795.00	-	$45,678,795.00	$45,678,795.00	$0.82	-	$1.22	$1.18	($0.41)	-	($1.07)	($1.68)	($5.06)	($6.72)

Spirit Airlines Inc

Short Description

Income Statement

Passenger revenue

Other revenue

Salaries wages and benefits

Aircraft fuel

Other operating

Depreciation and amortization

Landing fees and other rents

Aircraft rent

Maintenance materials and repairs

Distribution

Special charges (credits)

Operating Income

Other expense or income

EBIT

Income tax expense or benefit

Capitalized interest

Interest income

Interest expense

Net income (loss)