Company Quick10K Filing
Alaska Air Group
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 124 $7,759
10-Q 2019-11-07 Quarter: 2019-09-30
10-Q 2019-08-06 Quarter: 2019-06-30
10-Q 2019-05-09 Quarter: 2019-03-31
10-K 2019-02-15 Annual: 2018-12-31
10-Q 2018-11-02 Quarter: 2018-09-30
10-Q 2018-08-08 Quarter: 2018-06-30
10-Q 2018-05-04 Quarter: 2018-03-31
10-K 2018-02-15 Annual: 2017-12-31
10-Q 2017-11-02 Quarter: 2017-09-30
10-Q 2017-08-03 Quarter: 2017-06-30
10-Q 2017-05-05 Quarter: 2017-03-31
10-K 2017-02-28 Annual: 2016-12-31
10-Q 2016-11-02 Quarter: 2016-09-30
10-Q 2016-08-02 Quarter: 2016-06-30
10-Q 2016-05-09 Quarter: 2016-03-31
10-K 2016-02-11 Annual: 2015-12-31
10-Q 2015-11-04 Quarter: 2015-09-30
10-Q 2015-08-05 Quarter: 2015-06-30
10-Q 2015-05-07 Quarter: 2015-03-31
10-K 2015-02-11 Annual: 2014-12-31
10-Q 2014-11-05 Quarter: 2014-09-30
10-Q 2014-08-06 Quarter: 2014-06-30
10-Q 2014-05-09 Quarter: 2014-03-31
10-K 2014-02-13 Annual: 2013-12-31
10-Q 2013-11-06 Quarter: 2013-09-30
10-Q 2013-08-07 Quarter: 2013-06-30
10-Q 2013-05-08 Quarter: 2013-03-31
10-Q 2012-11-07 Quarter: 2012-09-30
10-Q 2012-08-08 Quarter: 2012-06-30
10-Q 2012-05-03 Quarter: 2012-03-31
10-K 2012-02-21 Annual: 2011-12-31
10-Q 2011-11-03 Quarter: 2011-09-30
10-Q 2011-08-04 Quarter: 2011-06-30
10-Q 2011-05-04 Quarter: 2011-03-31
10-K 2011-02-23 Annual: 2010-12-31
10-Q 2010-11-05 Quarter: 2010-09-30
10-Q 2010-08-05 Quarter: 2010-08-05
10-Q 2010-05-05 Quarter: 2010-03-31
10-K 2010-02-19 Annual: 2010-02-18
8-K 2020-01-13 Regulation FD, Exhibits
8-K 2020-01-06 Officers, Exhibits
8-K 2019-12-16 Regulation FD, Exhibits
8-K 2019-10-24 Earnings, Regulation FD, Exhibits
8-K 2019-10-10 Regulation FD, Exhibits
8-K 2019-09-04 Regulation FD, Exhibits
8-K 2019-08-07 Officers, Regulation FD, Exhibits
8-K 2019-07-25 Earnings, Regulation FD, Exhibits
8-K 2019-07-11 Regulation FD, Exhibits
8-K 2019-06-13 Regulation FD, Exhibits
8-K 2019-05-15 Shareholder Vote
8-K 2019-04-25 Earnings, Regulation FD, Exhibits
8-K 2019-04-11 Regulation FD, Exhibits
8-K 2019-03-14 Regulation FD, Exhibits
8-K 2019-03-05 Regulation FD, Exhibits
8-K 2019-02-13 Regulation FD, Exhibits
8-K 2019-01-24 Earnings, Regulation FD, Exhibits
8-K 2019-01-14 Regulation FD, Exhibits
8-K 2018-12-14 Regulation FD, Exhibits
8-K 2018-11-27 Regulation FD, Exhibits
8-K 2018-11-16 Regulation FD, Exhibits
8-K 2018-10-25 Earnings, Regulation FD, Exhibits
8-K 2018-10-12 Regulation FD, Exhibits
8-K 2018-09-17 Regulation FD, Exhibits
8-K 2018-08-14 Regulation FD, Exhibits
8-K 2018-07-26 Earnings, Regulation FD, Exhibits
8-K 2018-07-16 Regulation FD, Exhibits
8-K 2018-06-19 Officers
8-K 2018-06-15 Regulation FD, Exhibits
8-K 2018-05-15 Regulation FD, Exhibits
8-K 2018-05-08 Shareholder Vote, Other Events
8-K 2018-05-04 Regulation FD, Exhibits
8-K 2018-04-23 Earnings, Regulation FD, Exhibits
8-K 2018-04-13 Regulation FD, Exhibits
8-K 2018-03-13 Regulation FD, Exhibits
8-K 2018-02-15 Regulation FD, Exhibits
8-K 2018-01-25 Earnings, Regulation FD, Exhibits
8-K 2018-01-22 Officers, Regulation FD, Exhibits
8-K 2018-01-12 Regulation FD, Exhibits
8-K 2018-01-12 Officers, Regulation FD, Exhibits
8-K 2018-01-04 Officers
ALK 2019-09-30
Part I
Item 1. Condensed Consolidated Financial Statements
Note 1. General and Summary of Significant Accounting Policies
Note 2. Revenue
Note 3. Fair Value Measurements
Note 4. Long-Term Debt
Note 5. Leases
Note 6. Employee Benefit Plans
Note 7. Commitments and Contingencies
Note 8. Shareholders' Equity
Note 9. Operating Segment Information
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosure About Market Risk
Item 4. Controls and Procedures
Part II
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 alk10-q32019ex311.htm
EX-31.2 alk10-q32019ex312.htm
EX-32.1 alk10-q32019ex321.htm
EX-32.2 alk10-q32019ex322.htm

Alaska Air Group Earnings 2019-09-30

ALK 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
AAL 14,452 61,967 61,989 45,041 0 1,513 4,881 38,977 0% 8.0 2%
ALK 7,759 12,951 7,440 8,440 0 506 1,166 7,967 0% 6.8 4%
JBLU 5,513 11,236 6,539 7,952 0 440 1,130 6,462 0% 5.7 4%
SAVE 3,222 6,663 4,568 3,636 0 360 562 4,354 0% 7.8 5%
SKYW 3,001 6,580 4,528 3,101 500 0 566 5,836 16% 10.3 0%
LTM 2,775 2,729 1,599 1,310 124 111 333 3,942 9% 11.8 4%
ALGT 2,322 2,982 2,178 1,749 0 184 438 3,192 0% 7.3 6%
ATSG 1,362 2,703 2,333 1,168 0 25 313 2,750 0% 8.8 1%
HA 1,263 3,768 2,761 2,825 2,007 188 408 1,437 71% 3.5 5%
MESA 328 1,466 1,053 713 0 55 205 1,161 0% 5.7 4%

Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 10-Q
 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019
 
OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from                      to                      

Commission File Number 1-8957
ALASKA AIR GROUP, INC.
 
Delaware
 
91-1292054
(State of Incorporation)
 
(I.R.S. Employer Identification No.)

Title of each class
Name of each exchange on which registered
Ticker Symbol
Common stock, $0.01 par value
New York Stock Exchange
ALK
 
19300 International Boulevard,
Seattle,
WA
98188
 
Telephone:
(206)
392-5040
 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes   No  

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Accelerated filer  
Non-accelerated filer   
(Do not check if a smaller reporting company)
Smaller reporting company  
Emerging growth company  

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.): Yes  No
 
The registrant has 123,173,426 common shares, par value $0.01, outstanding at October 31, 2019.

This document is also available on our website at http://investor.alaskaair.com.




ALASKA AIR GROUP, INC.
FORM 10-Q FOR THE QUARTER ENDED SEPTEMBER 30, 2019

 TABLE OF CONTENTS

 

As used in this Form 10-Q, the terms “Air Group,” the “Company,” “our,” “we” and "us" refer to Alaska Air Group, Inc. and its subsidiaries, unless the context indicates otherwise. Alaska Airlines, Inc., Virgin America Inc. (through July 20, 2018, at which point it was legally merged into Alaska Airlines, Inc), and Horizon Air Industries, Inc. are referred to as “Alaska,” “Virgin America” and “Horizon” and together as our “airlines.”
 

2



CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
 
Cautionary Note Regarding Forward-Looking Statements
In addition to historical information, this Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. You can generally identify forward-looking statements as statements containing the words "believe," "expect," "will," "anticipate," "intend," "estimate," "project," "assume" or other similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from historical experience or the Company’s present expectations. Some of the things that could cause actual results to differ from our expectations are:

the competitive environment in our industry;
changes in our operating costs, including fuel, which can be volatile;
our ability to meet our cost reduction goals;
our ability to achieve anticipated synergies and timing thereof in connection with our acquisition of Virgin America;
our ability to successfully integrate the Boeing and Airbus operations;
labor disputes and our ability to attract and retain qualified personnel;
operational disruptions;
general economic conditions, including the impact of those conditions on customer travel behavior;
the concentration of our revenue from a few key markets;
an aircraft accident or incident;
actual or threatened terrorist attacks, global instability and potential U.S. military actions or activities;
our reliance on automated systems and the risks associated with changes made to those systems;
changes in laws and regulations.

You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date on which this report was filed with the SEC. We expressly disclaim any obligation to issue any updates or revisions to our forward-looking statements, even if subsequent events cause our expectations to change regarding the matters discussed in those statements. Over time, our actual results, performance or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such differences might be significant and materially adverse to our shareholders. For a discussion of these and other risk factors, see Item 1A. "Risk Factors” of the Company’s annual report on Form 10-K for the year ended December 31, 2018, and Item 1A. "Risk Factors" included herein. Please consider our forward-looking statements in light of those risks as you read this report.


3



PART I
 
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 
ALASKA AIR GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
(in millions)
September 30, 2019
 
December 31, 2018
ASSETS
 
 
 
Current Assets
 
 
 
Cash and cash equivalents
$
237

 
$
105

Marketable securities
1,382

 
1,131

Total cash and marketable securities
1,619

 
1,236

Receivables - net
377

 
366

Inventories and supplies - net
63

 
60

Prepaid expenses and other current assets
143

 
125

Total Current Assets
2,202

 
1,787

 
 
 
 
Property and Equipment
 

 
 

Aircraft and other flight equipment
8,492

 
8,221

Other property and equipment
1,272

 
1,363

Deposits for future flight equipment
463

 
439

 
10,227

 
10,023

Less accumulated depreciation and amortization
3,393

 
3,242

Total Property and Equipment - Net
6,834

 
6,781

 
 
 
 
Operating lease assets
1,647

 

Goodwill
1,943

 
1,943

Intangible assets - net
123

 
127

Other noncurrent assets
234

 
274

Other Assets
3,947

 
2,344

 
 
 
 
Total Assets
$
12,983

 
$
10,912




4



CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
(in millions, except share amounts)
September 30, 2019
 
December 31, 2018
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
Current Liabilities
 
 
 
Accounts payable
$
120

 
$
132

Accrued wages, vacation and payroll taxes
391

 
415

Air traffic liability
1,032

 
788

Other accrued liabilities
476

 
416

Deferred revenue
794

 
705

Current portion of operating lease liabilities
268

 

Current portion of long-term debt
265

 
486

Total Current Liabilities
3,346

 
2,942

 
 
 
 
Long-Term Debt, Net of Current Portion
1,444

 
1,617

 
 
 
 
Noncurrent Liabilities
 

 
 

Long-term operating lease liabilities, net of current portion
1,376

 

Deferred income taxes
708

 
512

Deferred revenue
1,177

 
1,169

Obligation for pension and postretirement medical benefits
467

 
503

Other liabilities
213

 
418

 
3,941

 
2,602

Commitments and Contingencies


 


Shareholders' Equity
 

 
 

Preferred stock, $0.01 par value, Authorized: 5,000,000 shares, none issued or outstanding

 

Common stock, $0.01 par value, Authorized: 400,000,000 shares, Issued: 2019 - 131,770,976 shares; 2018 - 130,813,476 shares, Outstanding: 2019 - 123,277,911 shares; 2018 - 123,194,430 shares
1

 
1

Capital in excess of par value
297

 
232

Treasury stock (common), at cost: 2019 - 8,493,065 shares; 2018 - 7,619,046 shares
(621
)
 
(568
)
Accumulated other comprehensive loss
(421
)
 
(448
)
Retained earnings
4,996

 
4,534

 
4,252

 
3,751

Total Liabilities and Shareholders' Equity
$
12,983

 
$
10,912



5



CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in millions, except per share amounts)
2019
 
2018
 
2019
 
2018
Operating Revenues
 
 
 
 
 
 
 
Passenger revenue
$
2,211

 
$
2,043

 
6,038

 
5,724

Mileage Plan other revenue
118

 
114

 
346

 
329

Cargo and other
60

 
55

 
169

 
147

Total Operating Revenues
2,389

 
2,212

 
6,553

 
6,200

Operating Expenses
 
 
 
 
 

 
 

Wages and benefits
608

 
549

 
1,732

 
1,629

Variable incentive pay
46

 
27

 
125

 
104

Aircraft fuel, including hedging gains and losses
486

 
513

 
1,408

 
1,397

Aircraft maintenance
106

 
107

 
341

 
320

Aircraft rent
82

 
82

 
247

 
233

Landing fees and other rentals
143

 
135

 
388

 
371

Contracted services
72

 
70

 
214

 
227

Selling expenses
77

 
79

 
236

 
245

Depreciation and amortization
106

 
99

 
317

 
290

Food and beverage service
57

 
53

 
159

 
158

Third-party regional carrier expense
42

 
38

 
125

 
114

Other
137

 
141

 
411

 
423

Special items - merger-related costs
5

 
22

 
39

 
67

Special items - other

 

 

 
25

Total Operating Expenses
1,967

 
1,915

 
5,742

 
5,603

Operating Income
422

 
297

 
811

 
597

Nonoperating Income (Expense)
 
 
 
 
 

 
 

Interest income
11

 
11

 
31

 
29

Interest expense
(18
)
 
(22
)
 
(60
)
 
(71
)
Interest capitalized
4

 
5

 
11

 
14

Other—net
(3
)
 
(7
)
 
(20
)
 
(20
)
Total Nonoperating Income (Expense)
(6
)
 
(13
)
 
(38
)
 
(48
)
Income Before Income Tax
416

 
284

 
773

 
549

Income tax expense
94

 
67

 
185

 
135

Net Income
$
322

 
$
217

 
$
588

 
$
414

 
 
 
 
 
 
 
 
Basic Earnings Per Share:
$
2.61

 
$
1.76

 
$
4.76

 
$
3.36

Diluted Earnings Per Share:
$
2.60

 
$
1.75

 
$
4.74

 
$
3.34

Shares used for computation:
 
 
 
 
 
 
 

Basic
123.280

 
123.224

 
123.330

 
123.216

Diluted
124.067

 
123.864

 
124.051

 
123.804



6



CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE OPERATIONS (unaudited)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in millions)
2019
 
2018
 
2019
 
2018
Net Income
$
322

 
$
217

 
$
588

 
$
414

 
 
 
 
 
 
 
 
Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
Related to marketable securities:
 
 
 
 
 
 
 
Unrealized holding gain (loss) arising during the period
4

 
(2
)
 
31

 
(19
)
Reclassification of (gain) loss into Other - net nonoperating income (expense)
(5
)
 
2

 
(3
)
 
5

Income tax effect

 
1

 
(7
)
 
4

Total
(1
)
 
1

 
21

 
(10
)
 
 
 
 
 
 
 
 
Related to employee benefit plans:
 
 
 
 
 
 
 
Reclassification of net pension expense into Wages and benefits and Other - net nonoperating income (expense)
8

 
7

 
24

 
21

Income tax effect
(2
)
 
(2
)
 
(6
)
 
(5
)
Total
6

 
5

 
18

 
16

 
 
 
 
 
 
 
 
Related to interest rate derivative instruments:
 
 
 
 
 
 
 
Unrealized holding gain (loss) arising during the period
(5
)
 

 
(17
)
 
8

Reclassification of loss into Aircraft rent
1

 
2

 
2

 
3

Income tax effect

 
(1
)
 
3

 
(3
)
Total
(4
)
 
1

 
(12
)
 
8

 
 
 
 
 
 
 
 
Other Comprehensive Income
1

 
7

 
27

 
14

 
 
 
 
 
 
 
 
Comprehensive Income
$
323

 
$
224

 
$
615

 
$
428






7



CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited)
(in millions)
Common Stock Outstanding
 
Common Stock
 
Capital in Excess of Par Value
 
Treasury Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained Earnings
 
Total
Balances at December 31, 2018
123.194

 
$
1

 
$
232

 
$
(568
)
 
$
(448
)
 
$
4,534

 
$
3,751

Cumulative effect of accounting changes(a)

 

 

 

 

 
3

 
3

Net income

 

 

 

 

 
4

 
4

Other comprehensive income (loss)

 

 

 

 
15

 

 
15

Common stock repurchase
(0.215
)
 

 

 
(13
)
 

 

 
(13
)
Stock-based compensation

 

 
12

 

 

 

 
12

Cash dividend declared
($0.35 per share)

 

 

 

 

 
(43
)
 
(43
)
Stock issued for employee stock purchase plan
0.391

 

 
20

 

 

 
.
 
20

Stock issued under stock plans
0.134

 

 
(3
)
 

 

 

 
(3
)
Balances at March 31, 2019
123.504

 
$
1

 
$
261

 
$
(581
)
 
$
(433
)
 
$
4,498

 
$
3,746

Net income

 

 

 

 

 
262

 
262

Other comprehensive income (loss)

 

 

 

 
11

 

 
11

Common stock repurchase
(0.194
)
 

 

 
(12
)
 

 

 
(12
)
Stock-based compensation

 

 
9

 

 

 

 
9

Cash dividend declared
($0.35 per share)

 

 

 

 

 
(43
)
 
(43
)
Stock issued under stock plans
0.028

 

 

 

 

 

 

Balances at June 30, 2019
123.338

 
$
1

 
$
270

 
$
(593
)
 
$
(422
)
 
$
4,717

 
$
3,973

Net income

 

 

 

 

 
322

 
322

Other comprehensive income (loss)

 

 

 

 
1

 

 
1

Common stock repurchase
(0.465
)
 

 

 
(28
)
 

 

 
(28
)
Stock-based compensation

 

 
7

 

 

 

 
7

Cash dividend declared
($0.35 per share)

 

 

 

 

 
(43
)
 
(43
)
Stock issued for employee stock purchase plan
0.394

 

 
20

 

 

 

 
20

Stock issued under stock plans
0.011

 

 

 

 

 

 

Balances at September 30, 2019
123.278

 
$
1

 
$
297

 
$
(621
)
 
$
(421
)
 
$
4,996

 
$
4,252


(a)
Represents the opening balance sheet adjustment recorded as a result of the adoption of the new lease accounting standard.















8



CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited)

(in millions)
Common Stock Outstanding
 
Common Stock
 
Capital in Excess of Par Value
 
Treasury Stock
 
Accumulated Other Comprehensive Income (Loss)
 
Retained Earnings
 
Total
Balances at December 31, 2017
123.061

 
$
1

 
$
164

 
$
(518
)
 
$
(380
)
 
$
4,193

 
$
3,460

Reclassification of tax effects to Retained Earnings

 

 

 

 
(62
)
 
62

 

Net income

 

 

 

 

 
4

 
4

Other comprehensive income (loss)

 

 

 

 
2

 

 
2

Common stock repurchase
(0.186
)
 

 

 
(13
)
 

 

 
(13
)
Stock-based compensation

 

 
12

 

 

 

 
12

Cash dividend declared
($0.32 per share)

 

 

 

 

 
(40
)
 
(40
)
Stock issued for employee stock purchase plan
0.312

 

 
17

 

 

 

 
17

Stock issued under stock plans
0.163

 

 
(3
)
 

 

 

 
(3
)
Balances at March 31, 2018
123.350

 
$
1

 
$
190

 
$
(531
)
 
$
(440
)
 
$
4,219

 
$
3,439

Net income

 

 

 

 

 
193

 
193

Other comprehensive income (loss)

 

 

 

 
5

 

 
5

Common stock repurchase
(0.204
)
 

 

 
(13
)
 

 

 
(13
)
Stock-based compensation

 

 
9

 

 

 

 
9

Cash dividend declared
($0.32 per share)

 

 

 

 

 
(39
)
 
(39
)
Stock issued under stock plans
0.058

 

 
(1
)
 

 

 

 
(1
)
Balances at June 30, 2018
123.204

 
$
1

 
$
198

 
$
(544
)
 
$
(435
)
 
$
4,373

 
$
3,593

Net income

 

 

 

 

 
217

 
217

Other comprehensive income (loss)

 

 

 

 
7

 

 
7

Common stock repurchase
(0.193
)
 

 

 
(12
)
 

 

 
(12
)
Stock-based compensation

 

 
8

 

 

 

 
8

Cash dividend declared
($0.32 per share)

 

 

 

 

 
(40
)
 
(40
)
Stock issued for employee stock purchase plan
0.320

 

 
18

 

 

 

 
18

Stock issued under stock plans
0.030

 

 

 

 

 

 

Balances at September 30, 2018
123.361

 
$
1

 
$
224

 
$
(556
)
 
$
(428
)
 
$
4,550

 
$
3,791