Alaska Air Group, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $100.0M | $395.0M | $235.0M | $58.0M | $478.0M | $-1.32B | $769.0M | $437.0M |
| Depreciation & Amortization | $795.0M | $583.0M | $451.0M | $415.0M | $394.0M | $420.0M | $423.0M | $398.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $58.0M | $16.0M | $5.0M | $5.0M | — | — | — | — |
| Stock-Based Compensation | $10.0M | $63.0M | $85.0M | $42.0M | $51.0M | $24.0M | $29.0M | $47.0M |
| Net Cash from Operating Activities | $1.25B | $1.46B | $1.05B | $1.42B | $1.03B | $-234.0M | $1.72B | $1.20B |
| Investing Activities | ||||||||
| Capital Expenditures | $309.0M | $293.0M | $1.49B | $1.67B | $292.0M | $222.0M | $696.0M | $960.0M |
| Business Acquisitions | $0 | $659.0M | $0 | $0 | — | — | — | $0 |
| Net Cash from Investing Activities | $-1.62B | $-634.0M | $-964.0M | $-1.22B | $-1.01B | $-593.0M | $-791.0M | $-631.0M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | $0 | $0 | $45.0M | $173.0M | $158.0M |
| Stock Repurchases | $570.0M | $312.0M | $137.0M | $0 | $0 | $31.0M | $75.0M | $50.0M |
| Net Cash from Financing Activities | $-199.0M | $119.0M | $-147.0M | $-325.0M | $-914.0M | $1.98B | $-813.0M | $-647.0M |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $940.0M | $1.17B | $-444.0M | $-253.0M | $738.0M | $-456.0M | $1.03B | $235.0M |