	2008 12/31/08	2007 12/31/07	2006 12/31/06	2005 12/31/05
Cash	283	204	231	74
Short Term Investments	811	730	894	1,021
ASSETS
Cash & Short Term Investments	1,094	935	1,125	1,095
Receivables - Net	117	239	134	124
Finished Goods	52	--	--	--
Inventories - Total	52	47	45	44
Prepaid Expenses	--	--	--	--
Other Current Assets	246	170	268	278
CURRENT ASSETS - TOTAL	1,509	1,390	1,572	1,540
Machinery & Equipment	3,431	2,981	2,297	2,265
Other Property, Plant & Equipment	918	1,004	968	786
Property, Plant and Equipment - Gross	4,349	3,986	3,265	3,052
Accumulated Depreciation	(1,182)	(1,023)	(906)	(1,020)
Property, Plant and Equipment - Net	3,168	2,962	2,359	2,032
Other Investments	115	102	114	154
Deferred Charges	45	36	32	32
Total Intangible Other Assets - Net	0	0	0	34
Other Assets - Total	45	36	32	66
TOTAL ASSETS	4,836	4,491	4,077	3,792
LIABILITIES
Accounts Payable	60	102	90	135
Short Term Debt & Current Portion of Long Term Debt	245	288	230	114
Accrued Payroll	120	112	144	106
Other Current Liabilities	937	886	772	918
CURRENT LIABILITIES - TOTAL	1,361	1,388	1,237	1,166
Capitalized Lease Obligations	--	--	--	100K
Long Term Debt	1,596	1,125	1,032	969
Provision for Risks and Charges	585	0	0	--
Deferred Income	421	414	333	291
Deferred Taxes - Credit	37	133	115	156
DEFERRED TAXES	37	133	115	156
Other Liabilities	174	408	476	673
TOTAL LIABILITIES	4,174	3,467	3,192	2,964
EQUITY
Non-Equity Reserves	0	0	0	0
Minority Interest	0	0	0	0
Preferred Stock	0	0	0	0
Common Stock	43	43	43	36
Capital Surplus	915	895	878	710
Other Appropriated Reserves	(326)	(136)	(191)	(138)
Retained Earnings	193	332	207	278
Unrealized Gain/Loss on Marketable Securities	(3)	3	(200)K	(2)
Treasury Stock	(161)	(113)	(50)	(57)
COMMON EQUITY	662	1,024	886	828
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY	4,836	4,491	4,077	3,792
SHARE INFORMATION
Common Shares Outstanding	36	38	40	33

	2009 Q3 9/30/09	2009 Q2 6/30/09	2009 Q1 3/31/09	2008 Q4 12/31/08	2008 Q3 9/30/08
Cash	--	--	--	283	--
ASSETS
Cash & Short Term Investments	1,230	1,161	1,056	1,094	1,067
Receivables - Net	128	157	114	117	143
Inventories - Total	47	44	43	52	84
Prepaid Expenses	--	74	82	--	--
Other Current Assets	281	158	170	246	385
CURRENT ASSETS - TOTAL	1,686	1,594	1,466	1,509	1,679
Property, Plant and Equipment - Gross	4,423	4,401	4,353	4,349	4,359
Accumulated Depreciation	(1,287)	(1,247)	(1,226)	(1,182)	(1,141)
Property, Plant and Equipment - Net	3,136	3,154	3,127	3,168	3,217
Other Assets - Total	184	193	186	159	170
TOTAL ASSETS	5,006	4,941	4,779	4,836	5,066
LIABILITIES
Accounts Payable	55	53	64	60	81
Short Term Debt & Current Portion of Long Term Debt	149	167	164	245	356
Other Current Liabilities	1,079	1,121	1,057	1,056	1,104
CURRENT LIABILITIES - TOTAL	1,282	1,340	1,286	1,361	1,540
Long Term Debt	1,658	1,670	1,619	1,596	1,613
Deferred Taxes - Credit	93	46	37	37	152
DEFERRED TAXES	93	46	37	37	152
Other Liabilities	1,199	1,197	1,180	1,180	835
TOTAL LIABILITIES	4,232	4,253	4,122	4,174	4,140
EQUITY
Non-Equity Reserves	0	0	0	0	0
Minority Interest	0	0	0	0	0
Preferred Stock	0	0	0	0	0
Common Stock	44	43	43	43	43
Capital Surplus	927	924	922	915	911
Retained Earnings	291	203	174	193	269
Unrealized Gain/Loss on Marketable Securities	0	0	0	(3)	0
Treasury Stock	(185)	(173)	(161)	(161)	(161)
COMMON EQUITY	774	688	657	662	926
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY	5,006	4,941	4,779	4,836	5,066
SHARE INFORMATION
Common Shares Outstanding	35	36	36	36	36

() = Negative Values
Values are displayed in Millions except for earnings per share and where noted

ALK : NYSE