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Table 10. Quarterly U.S. Scheduled Passenger Airlines Revenue, Expenses and Profits, 4Q 2017

Reports from 23 airlines in 4Q 2017, (Millions of dollars)

4Q 20164Q 2017Change2016-2017 % Change% of 4Q 2017 Revenue or Expense Total
Operating Revenue
Passenger Fares (scheduled/charter)31,121.132,274.31,153.23.7173.62
Cargo717.3843.7126.417.621.92
Baggage1,163.81,157.4-6.4-0.552.64
Reservation Changes670.6675.04.40.661.54
Transport-Related*7,101.37,388.8287.54.0516.85
Other**1,321.41,499.9178.513.513.42
Total Operating Revenue***42,095.543,839.11,743.64.14100.00
Operating Expense
Fuel6,026.27,053.41,027.217.0517.75
Labor13,189.813,563.5373.72.8334.14
Rentals2,173.12,218.645.52.095.58
Depreciation & Amortization2,179.82,308.4128.65.905.81
Landing Fees749.9757.77.81.041.91
Maintenance Materials648.0608.7-39.3-6.061.53
Transport-Related*4,521.95,092.4570.512.6212.82
Other****7,964.98,131.9167.02.1020.47
Total Operating Expense37,453.639,734.62,281.06.09100.00
Profits or Losses
Operating Profit4,641.94,104.5-537.4-11.58N/A
Operating Margin# (%)11.09.4-1.7N/AN/A
Nonoperating Income/(Expense)##-646.6-538.5647.150.00N/A
Pre-Tax Income3,995.33,566.1-429.2-10.74N/A
Income Tax Benefit/(Expense)-1,444.31,575.13,019.4-209.06N/A
Other Income/(Expense)0.00.00.00.0N/A
Net Income2,551.05,141.12,590.1101.53N/A
Notes: 
* Transport-Related is revenue/expenses from services which grow from and are incidental to the air transportation services performed by the air carrier. Examples are in-flight onboard sales (food, liquor, pillows, etc), code share revenues, revenues and expenses from associated businesses (aircraft maintenance, fuel sales, restaurants, vending machines, etc). 
** Other revenue includes miscellaneous operating revenue (including pet transportation, sale of frequent flyer award miles to airline business partners and standby passenger fees) and public service revenues subsidy.
*** Based on U.S. Department of Transportation accounting standards, Total Operating Revenues are overstated by code share revenues which are included in both the mainline Transport-Related Revenues and the code share Passenger Revenue. Code share revenues are expensed out in the mainline Transport-Related Expense to allow a true Operating Profit(Loss). This reporting may understate all components of operating revenue, including Passenger Revenue, as a percentage of Total Operating Revenue.
**** Other expense includes purchase of materials such as passenger food and other materials; and purchase of services such as advertising, communication, insurance, outside flight equipment maintenance, traffic commissions and other services. 
# Operating margin is the operating profit or loss as a percentage of operating revenue
## Nonoperating Income and Expense includes interest on long-term debt and capital leases, other interest expense, foreign exchange gains and losses, capital gains and losses and other income and expenses.
### Net margin is the net income or loss as a percentage of operating revenue
 
Source: 

Bureau of Transportation Statistics, Form 41; Schedules P1.2 and P6