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Alaska Air Group ALK Loyalty Plan Revenue — Deferred Revenue

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Other financials

Income statement

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Revenue$3.3B+5.2%
Operating income-$279.0M-41.6%
Net income-$193.0M-16.3%
EPS (diluted)-$1.69-25.2%

Balance sheet

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Cash & equivalents$508.0M-53.8%
Total debt$6.4B+2.4%
Total equity$3.7B-9.8%
Total assets$20.3B+2.4%

Cash flow

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Operating cash flow$421.0M-8.3%
CapEx$30.0M-28.6%
Free cash flow$391.0M-6.2%

Valuation

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Market cap$5.49B-30.2%

Profitability

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Operating margin1.5%-2.7pp
Net margin0.5%-2.3pp
FCF margin6.3%-4.4pp

Returns & leverage

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Return on equity1.9%-7.0pp
Debt / equity1.7×+0.2×
Current ratio0.4×-0.1×

Where this comes from

Reported directly by Alaska Air Group in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The official record: Alaska Air Group’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Alaska Air Group's loyalty plan revenue — deferred revenue?
Alaska Air Group (ALK) reported loyalty plan revenue — deferred revenue of $1.78B in Q1 2026.
What does loyalty plan revenue — deferred revenue mean?
This metric represents the portion of loyalty program revenue that has been billed or collected but not yet recognized as earned because the associated travel or partner services have not been provided. It serves as a liability on the balance sheet, reflecting the company's future obligation to fulfill travel rewards or benefits to program members. Monitoring this balance provides insight into the scale of the loyalty program's engagement and the potential future revenue that will be recognized upon redemption.