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Alaska AIR Group, Inc. cash flow statement

In fiscal 2025, Alaska AIR Group, Inc.'s operations generated $1.25bn of cash; it spent $309m on capital projects, leaving free cash flow of $940m. It returned $570m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations2935536967539811,0301,5841,3861,5901,1951,722−2341,0301,4181,0501,4641,2491,020
Depreciation and amortisation219230247264270294320363372398423420394415451583795813
Stock-based pay1391710326252655472924514285631079
Capital spending4381853875185666948316781,0269606962222921,6711,494293309289
Free cash flow−1463683092354153367537085642351,026−456738−253−4441,171940731
Free cash flow after stock pay−159359292225383330728682509188997−480687−295−5291,108930652
Dividends paid——0028681021361481581734500————
Share buybacks244580601593485051937550753100137312570285
Shares issued133719312427————————————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Alaska AIR Group, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Alaska AIR Group, Inc.