$SKYW
SKYWEST INC

2019 Q2 Form 10-Q Financial Statement

#000155837019007069 Filed on August 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $744.4M $829.3M $803.5M
YoY Change -10.24% 4.77% 7.53%
Cost Of Revenue $600.3M $678.8M $242.5M
YoY Change -11.57% 164.34% -63.85%
Gross Profit $144.1M $150.4M $540.9M
YoY Change -4.22% -71.86% 6.73%
Gross Profit Margin 19.36% 18.14% 67.32%
Selling, General & Admin $243.8M $293.7M $306.7M
YoY Change -16.99% -0.37% 3.02%
% of Gross Profit 169.2% 195.23% 56.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $90.15M $82.71M $77.60M
YoY Change 8.99% 16.17% 10.68%
% of Gross Profit 62.56% 54.98% 14.35%
Operating Expenses $395.9M $445.6M $452.7M
YoY Change -11.15% 4.09% 5.16%
Operating Profit $144.1M $137.9M $121.5M
YoY Change 4.47% 29.39% 59.25%
Interest Expense $32.77M $28.81M -$24.50M
YoY Change 13.74% -212.11% -199.8%
% of Operating Profit 22.74% 20.89% -20.16%
Other Income/Expense, Net -$28.76M -$28.35M $3.600M
YoY Change 1.44% -115.07%
Pretax Income $115.3M $98.33M $67.20M
YoY Change 17.3% 21.54% 28.23%
Income Tax $27.28M $22.47M $12.80M
% Of Pretax Income 23.66% 22.85% 19.05%
Net Earnings $88.10M $75.90M $54.40M
YoY Change 16.07% 50.3% 56.32%
Net Earnings / Revenue 11.84% 9.15% 6.77%
Basic Earnings Per Share $1.72 $1.60 $1.30
Diluted Earnings Per Share $1.71 $1.57 $1.28
COMMON SHARES
Basic Shares Outstanding 51.15M 52.04M 51.65M
Diluted Shares Outstanding 51.48M 52.98M 52.56M

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $549.6M $649.1M $645.5M
YoY Change -15.33% 3.64% 11.64%
Cash & Equivalents $253.7M $175.7M $251.4M
Short-Term Investments $295.9M $473.4M $394.1M
Other Short-Term Assets $17.22M $124.9M $119.9M
YoY Change -86.22% -23.98% -33.46%
Inventory $109.8M $118.9M $117.2M
Prepaid Expenses
Receivables $80.20M $71.20M $61.30M
Other Receivables $23.10M $11.20M $8.600M
Total Short-Term Assets $779.9M $975.2M $952.6M
YoY Change -20.02% 2.98% 3.93%
LONG-TERM ASSETS
Property, Plant & Equipment $5.291B $4.659B $4.375B
YoY Change 13.56% 12.69% 11.38%
Goodwill
YoY Change
Intangibles $2.448M
YoY Change
Long-Term Investments
YoY Change
Other Assets $172.3M $278.7M $272.4M
YoY Change -38.16% 2.46% -1.23%
Total Long-Term Assets $5.800B $4.938B $4.648B
YoY Change 17.46% 11.88% 10.35%
TOTAL ASSETS
Total Short-Term Assets $779.9M $975.2M $952.6M
Total Long-Term Assets $5.800B $4.938B $4.648B
Total Assets $6.580B $5.913B $5.600B
YoY Change 11.28% 10.31% 9.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $321.2M $291.0M $290.1M
YoY Change 10.39% 9.81% 10.09%
Accrued Expenses $225.8M $177.2M $161.7M
YoY Change 27.43% 8.58% 8.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $345.3M $353.7M $335.4M
YoY Change -2.39% 15.29% 14.24%
Total Short-Term Liabilities $927.3M $878.6M $837.8M
YoY Change 5.55% 12.77% 11.63%
LONG-TERM LIABILITIES
Long-Term Debt $2.719B $2.616B $2.441B
YoY Change 3.95% 6.64% 5.15%
Other Long-Term Liabilities $46.45M $98.30M $99.80M
YoY Change -52.75% 1.97% -1.77%
Total Long-Term Liabilities $2.765B $2.714B $2.541B
YoY Change 1.9% 6.47% 4.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $927.3M $878.6M $837.8M
Total Long-Term Liabilities $2.765B $2.714B $2.541B
Total Liabilities $3.693B $4.052B $3.813B
YoY Change -8.87% 2.9% 1.56%
SHAREHOLDERS EQUITY
Retained Earnings $1.927B
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.052B $1.861B $1.787B
YoY Change
Total Liabilities & Shareholders Equity $6.580B $5.913B $5.600B
YoY Change 11.28% 10.31% 9.2%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $88.10M $75.90M $54.40M
YoY Change 16.07% 50.3% 56.32%
Depreciation, Depletion And Amortization $90.15M $82.71M $77.60M
YoY Change 8.99% 16.17% 10.68%
Cash From Operating Activities $207.2M $184.9M $165.9M
YoY Change 12.06% -1.6% 15.29%
INVESTING ACTIVITIES
Capital Expenditures -$164.3M -$364.8M -$208.1M
YoY Change -54.96% 23.45% -6.01%
Acquisitions
YoY Change
Other Investing Activities -$7.900M -$82.80M $108.0M
YoY Change -90.46% -617.5% -492.73%
Cash From Investing Activities -$172.1M -$447.6M -$100.1M
YoY Change -61.55% 60.2% -59.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -72.30M 187.0M 3.800M
YoY Change -138.66% 33.95% -92.91%
NET CHANGE
Cash From Operating Activities 207.2M 184.9M 165.9M
Cash From Investing Activities -172.1M -447.6M -100.1M
Cash From Financing Activities -72.30M 187.0M 3.800M
Net Change In Cash -37.20M -75.70M 69.60M
YoY Change -50.86% -257.38% -235.41%
FREE CASH FLOW
Cash From Operating Activities $207.2M $184.9M $165.9M
Capital Expenditures -$164.3M -$364.8M -$208.1M
Free Cash Flow $371.5M $549.7M $374.0M
YoY Change -32.42% 13.72% 2.38%

Facts In Submission

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dei Document Type
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10-Q
dei Document Quarterly Report
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true
dei Document Period End Date
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2019-06-30
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
0-14719
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
UT
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
87-0292166
dei Entity Address Address Line1
EntityAddressAddressLine1
444 South River Road
dei Entity Address City Or Town
EntityAddressCityOrTown
St. George
dei Entity Address State Or Province
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UT
dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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634-3000
dei Security12b Title
Security12bTitle
Common Stock, No Par Value
dei Trading Symbol
TradingSymbol
SKYW
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1620000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1497000
skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
9311000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
43476000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
16145000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
75859000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
27000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
1951140000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
176233000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
10000
CY2018Q2 skyw Net Unrealized Depreciation Marketable Securities Net Of Tax
NetUnrealizedDepreciationMarketableSecuritiesNetOfTax
83000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2778000
CY2018Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5205000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1860652000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
12265000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
2052245000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
2000567000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88052000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2279000
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2075000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
362123000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
350822000
CY2019Q2 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
18476000
CY2019Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
16145000
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
CY2019Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
6107000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
2052245000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1754322000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
130220000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
11000
skyw Net Unrealized Depreciation Marketable Securities Net Of Tax
NetUnrealizedDepreciationMarketableSecuritiesNetOfTax
33000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
836000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1485000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7632000
skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
10003000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
13464000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
10409000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1860652000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1787137000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
896326000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1377448000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
961403000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1407623000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
21065000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
325969000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
553877000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55865000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19070000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
31817000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
23298000
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
53200000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1962000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
4962000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-249049000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-547734000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
99914000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
383644000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
211200000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
160387000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4540000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2320000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
68932000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23467000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
820000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1917000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11299000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9345000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-187797000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
190848000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-74723000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6064000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
328384000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
181792000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
253661000
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
175728000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
3244000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
426000
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
14475000
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
59132000
us-gaap Contribution Of Property
ContributionOfProperty
22313000
skyw Right Of Use Assets On Aircraft Acquired Under Operating Leases
RightOfUseAssetsOnAircraftAcquiredUnderOperatingLeases
150688000
skyw Lease Liability Arising From Recognition Of Right Of Use Asset
LeaseLiabilityArisingFromRecognitionOfRightOfUseAsset
456472000
us-gaap Interest Paid Net
InterestPaidNet
67778000
us-gaap Interest Paid Net
InterestPaidNet
54765000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1713000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1852000
skyw Increase Decrease In Carrying Amount Of Assets
IncreaseDecreaseInCarryingAmountOfAssets
-101448000
skyw Increase Decrease In Carrying Amount Of Liabilities
IncreaseDecreaseInCarryingAmountOfLiabilities
-68341000
us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
79632000
skyw Gain Loss On Sale Of Subsidiaries
GainLossOnSaleOfSubsidiaries
46525000
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.831
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.169
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
9530000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
9523000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
8976000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
4099000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
1205000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5780000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
39113000
skyw Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Replacement With Common Stock Shares Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingReplacementWithCommonStockSharesRatio
0.01
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000000.0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7600000
skyw Severance Costs Gross
SeveranceCostsGross
7900000
skyw Forfeiture Credit Share Based Compensation Stock
ForfeitureCreditShareBasedCompensationStock
4500000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1055355
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
59600000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9300000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
177580
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
10000000.0
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13500000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
165000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
207000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88052000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
75859000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
176233000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
130220000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51145000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52046000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51293000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51983000
CY2019Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
332000
CY2018Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
867000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
494000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
990000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51477000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52913000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51787000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52973000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.72
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.51
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.71
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.46
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
744383000
CY2019Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
600290000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
90148000
CY2019Q2 us-gaap Interest Expense
InterestExpense
32770000
CY2019Q2 us-gaap Assets
Assets
6580019000
CY2019Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
135662000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
805515000
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
678837000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
82714000
CY2018Q2 us-gaap Interest Expense
InterestExpense
28811000
CY2018Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2448000
CY2018Q2 us-gaap Assets
Assets
5913093000
CY2018Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
364717000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1468077000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1227565000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
180134000
skyw Special Charges And Write Down Value Of Assets
SpecialChargesAndWriteDownValueOfAssets
21869000
us-gaap Interest Expense
InterestExpense
65278000
CY2019Q2 us-gaap Assets
Assets
6580019000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
550241000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1588915000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1374062000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
160298000
us-gaap Interest Expense
InterestExpense
55045000
CY2018Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2448000
CY2018Q2 us-gaap Assets
Assets
5913093000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
632505000
skyw Operating Leases Number Of Aircraft Leased
OperatingLeasesNumberOfAircraftLeased
92
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
336700000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
81800000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
265500000
us-gaap Operating Lease Payments
OperatingLeasePayments
43100000
skyw Schedule Of Related Terms And Discount Rates
ScheduleOfRelatedTermsAndDiscountRates
<p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:79.99%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:22.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr style="height:1pt;"><td style="vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.73%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td></tr><tr style="height:8.65pt;"><td colspan="2" style="vertical-align:bottom;width:71.6%;margin:0pt;padding:0pt;"><div style="height:8.65pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></div></div></td><td colspan="3" style="vertical-align:bottom;width:28.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><div style="height:8.65pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">June 30, 2019</b></p></div></div></td></tr><tr><td style="background-color:auto;vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Weighted-average remaining lease term</p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:8pt;margin:0pt;">    </p></td><td colspan="2" style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:auto;vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">    </p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;"> Operating leases</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.73%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;">6.5 years</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;">Weighted-average discount rate</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.73%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:22.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"><span style="margin-right:0pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="white-space:pre-wrap;"> Operating leases</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:2.73%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:22.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;">6.4%</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr></table>
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
27647000
CY2018Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
45425000
CY2019Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1346000
CY2018Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1392000
CY2019Q2 us-gaap Lease Cost
LeaseCost
28993000
CY2018Q2 us-gaap Lease Cost
LeaseCost
46817000
us-gaap Operating Lease Cost
OperatingLeaseCost
54868000
us-gaap Operating Lease Cost
OperatingLeaseCost
98258000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2821000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2811000
us-gaap Lease Cost
LeaseCost
57689000
us-gaap Lease Cost
LeaseCost
101069000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
36756000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
93752000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
76687000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
67728000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
62558000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
88144000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
425625000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
425625000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
36756000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
93752000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
76687000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
67728000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
62558000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
88144000
CY2019Q2 us-gaap Purchase Obligation
PurchaseObligation
313466000
CY2019Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
79428000
CY2019Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
136598000
CY2019Q2 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
97440000
CY2019Q2 skyw Interest Commitment
InterestCommitment
615318000
CY2019Q2 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
63949000
CY2019Q2 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
116723000
CY2019Q2 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
101295000
CY2019Q2 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
87294000
CY2019Q2 skyw Interest Commitment Due In Year Five
InterestCommitmentDueInYearFive
71252000
CY2019Q2 skyw Interest Commitment Due After Year Five
InterestCommitmentDueAfterYearFive
174805000
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3088639000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
171243000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
361481000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
344587000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
358586000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
367322000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1485420000
CY2019Q2 us-gaap Contractual Obligation
ContractualObligation
4443048000
CY2019Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
351376000
CY2019Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
708554000
CY2019Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
620009000
CY2019Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
513608000
CY2019Q2 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
501132000
CY2019Q2 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
1748369000
skyw Variable Rate Notes Percentage On Total Debt
VariableRateNotesPercentageOnTotalDebt
0.001
CY2019Q1 skyw Gain Loss On Sale Of Subsidiaries
GainLossOnSaleOfSubsidiaries
46500000
CY2019Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0685
CY2019Q2 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
349018000
CY2018Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
354072000
CY2019Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3765000
CY2018Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3866000
CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
345253000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
350206000
CY2019Q2 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2739621000
CY2018Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2831366000
CY2019Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
20580000
CY2018Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
21598000
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2719041000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2809768000
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3088639000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3185438000
CY2019Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
24345000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
25464000
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
3064294000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
3159974000
skyw Debt Instrument Issued To Purchase Of Aircraft
DebtInstrumentIssuedToPurchaseOfAircraft
14500000
us-gaap Loss On Contract Termination
LossOnContractTermination
18500000
us-gaap Severance Costs1
SeveranceCosts1
3400000
skyw Number Of Spare Engines Purchased
NumberOfSpareEnginesPurchased
14
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.237
CY2019Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210

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