$SKYW
SKYWEST INC

2019 Q3 Form 10-Q Financial Statement

#000155837019009963 Filed on November 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $760.3M $805.5M $829.3M
YoY Change -5.61% -0.88% 4.77%
Cost Of Revenue $613.9M $691.4M $678.8M
YoY Change -11.21% 169.22% 164.34%
Gross Profit $146.4M $114.2M $150.4M
YoY Change 28.27% -79.46% -71.86%
Gross Profit Margin 19.26% 14.17% 18.14%
Selling, General & Admin $251.4M $301.4M $293.7M
YoY Change -16.59% -0.86% -0.37%
% of Gross Profit 171.67% 264.0% 195.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.80M $86.09M $82.71M
YoY Change 7.79% 16.18% 16.17%
% of Gross Profit 63.37% 75.41% 54.98%
Operating Expenses $403.8M $456.4M $445.6M
YoY Change -11.52% 2.91% 4.09%
Operating Profit $146.4M $126.7M $137.9M
YoY Change 15.6% 12.7% 29.39%
Interest Expense $31.61M $31.44M $28.81M
YoY Change 0.53% -222.33% -212.11%
% of Operating Profit 21.58% 24.82% 20.89%
Other Income/Expense, Net -$27.70M -$28.00M -$28.35M
YoY Change -1.06% 8.98%
Pretax Income $118.7M $109.9M $98.33M
YoY Change 8.02% 26.79% 21.54%
Income Tax $27.40M $26.88M $22.47M
% Of Pretax Income 23.08% 24.45% 22.85%
Net Earnings $91.30M $83.00M $75.90M
YoY Change 10.0% 54.56% 50.3%
Net Earnings / Revenue 12.01% 10.3% 9.15%
Basic Earnings Per Share $1.80 $1.46 $1.60
Diluted Earnings Per Share $1.79 $1.43 $1.57
COMMON SHARES
Basic Shares Outstanding 50.75M 52.05M 52.04M
Diluted Shares Outstanding 51.13M 52.91M 52.98M

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $571.5M $704.8M $649.1M
YoY Change -18.91% 5.64% 3.64%
Cash & Equivalents $307.9M $324.6M $175.7M
Short-Term Investments $263.6M $380.2M $473.4M
Other Short-Term Assets $24.93M $142.8M $124.9M
YoY Change -82.54% -13.66% -23.98%
Inventory $111.9M $124.0M $118.9M
Prepaid Expenses
Receivables $77.50M $62.20M $71.20M
Other Receivables $24.50M $18.20M $11.20M
Total Short-Term Assets $810.4M $1.052B $975.2M
YoY Change -22.97% 5.83% 2.98%
LONG-TERM ASSETS
Property, Plant & Equipment $5.300B $4.875B $4.659B
YoY Change 8.71% 17.7% 12.69%
Goodwill
YoY Change
Intangibles $1.224M $2.448M
YoY Change
Long-Term Investments
YoY Change
Other Assets $163.9M $257.5M $278.7M
YoY Change -36.36% 4.29% 2.46%
Total Long-Term Assets $5.787B $5.133B $4.938B
YoY Change 12.75% 16.78% 11.88%
TOTAL ASSETS
Total Short-Term Assets $810.4M $1.052B $975.2M
Total Long-Term Assets $5.787B $5.133B $4.938B
Total Assets $6.598B $6.185B $5.913B
YoY Change 6.67% 14.76% 10.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $328.9M $320.4M $291.0M
YoY Change 2.64% 15.96% 9.81%
Accrued Expenses $235.7M $172.5M $177.2M
YoY Change 36.64% -0.75% 8.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $362.6M $357.3M $353.7M
YoY Change 1.48% 17.77% 15.29%
Total Short-Term Liabilities $961.5M $913.4M $878.6M
YoY Change 5.27% 14.3% 12.77%
LONG-TERM LIABILITIES
Long-Term Debt $2.622B $2.752B $2.616B
YoY Change -4.7% 15.58% 6.64%
Other Long-Term Liabilities $46.47M $97.30M $98.30M
YoY Change -52.24% 4.51% 1.97%
Total Long-Term Liabilities $2.669B $2.849B $2.714B
YoY Change -6.33% 15.16% 6.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $961.5M $913.4M $878.6M
Total Long-Term Liabilities $2.669B $2.849B $2.714B
Total Liabilities $3.630B $4.256B $4.052B
YoY Change -14.7% 8.75% 2.9%
SHAREHOLDERS EQUITY
Retained Earnings $2.013B
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.116B $1.929B $1.861B
YoY Change
Total Liabilities & Shareholders Equity $6.598B $6.185B $5.913B
YoY Change 6.67% 14.76% 10.31%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $91.30M $83.00M $75.90M
YoY Change 10.0% 54.56% 50.3%
Depreciation, Depletion And Amortization $92.80M $86.09M $82.71M
YoY Change 7.79% 16.18% 16.17%
Cash From Operating Activities $220.4M $222.3M $184.9M
YoY Change -0.85% 10.87% -1.6%
INVESTING ACTIVITIES
Capital Expenditures -$98.60M -$311.7M -$364.8M
YoY Change -68.37% 206.79% 23.45%
Acquisitions
YoY Change
Other Investing Activities $42.50M $117.0M -$82.80M
YoY Change -63.68% -280.0% -617.5%
Cash From Investing Activities -$56.30M -$194.7M -$447.6M
YoY Change -71.08% 16.73% 60.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -109.8M 121.2M 187.0M
YoY Change -190.59% -253.22% 33.95%
NET CHANGE
Cash From Operating Activities 220.4M 222.3M 184.9M
Cash From Investing Activities -56.30M -194.7M -447.6M
Cash From Financing Activities -109.8M 121.2M 187.0M
Net Change In Cash 54.30M 148.8M -75.70M
YoY Change -63.51% -427.75% -257.38%
FREE CASH FLOW
Cash From Operating Activities $220.4M $222.3M $184.9M
Capital Expenditures -$98.60M -$311.7M -$364.8M
Free Cash Flow $319.0M $534.0M $549.7M
YoY Change -40.26% 76.76% 13.72%

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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2019-09-30
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dei Entity File Number
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dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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SKYWEST INC
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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444 South River Road
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
83044000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
267604000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
213298000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1964281000
CY2018Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
-13141000
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
267572000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
10000
skyw Net Unrealized Depreciation Marketable Securities Net Of Tax
NetUnrealizedDepreciationMarketableSecuritiesNetOfTax
32000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3105000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3165000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3506000
skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
9313000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
68477000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
16145000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18325000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
2116260000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
2052245000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
91339000
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
185000
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1545000
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2009000
CY2019Q3 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
25003000
skyw Net Unrealized Depreciation Marketable Securities Net Of Tax
NetUnrealizedDepreciationMarketableSecuritiesNetOfTax
32000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2174000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3038000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
10363000
skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
25164000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
13556000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
15602000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
1928873000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1860652000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
83046000
CY2018Q3 skyw Net Unrealized Depreciation Marketable Securities Net Of Tax
NetUnrealizedDepreciationMarketableSecuritiesNetOfTax
-1000
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1338000
CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1553000
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2731000
CY2018Q3 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
15161000
CY2018Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
92000
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2018Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5193000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
1928873000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
582468000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
573127000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1469091000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1575991000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1566471000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1699284000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
25604000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
419508000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
848723000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61021000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35870000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
31817000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
23298000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
21421000
us-gaap Proceeds From Divestiture Of Interest In Consolidated Subsidiaries
ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
53200000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-7570000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2479000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-305294000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-742358000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
99914000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
626163000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
291250000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
262923000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6270000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5212000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
93935000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
38720000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1242000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3182000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
17406000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
14550000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-297649000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
312000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-20475000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
142769000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
328384000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
181792000
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
307909000
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
324561000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
3662000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
10346000
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
153566000
skyw Lease Liability Arising From Recognition Of Right Of Use Asset
LeaseLiabilityArisingFromRecognitionOfRightOfUseAsset
456472000
us-gaap Interest Paid Net
InterestPaidNet
100100000
us-gaap Interest Paid Net
InterestPaidNet
85611000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2415000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2382000
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
0.821
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.179
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5300000000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
4975000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
17733000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
17333000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
10775000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
4549000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
14521000
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
69886000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000000.0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10400000
skyw Severance Costs Gross
SeveranceCostsGross
7900000
skyw Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Replacement With Common Stock Shares Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingReplacementWithCommonStockSharesRatio
0.01
skyw Forfeiture Credit Share Based Compensation Stock
ForfeitureCreditShareBasedCompensationStock
4500000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1496648
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
84600000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9300000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
427869
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25200000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13600000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
150000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
207000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
91339000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
83046000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
267572000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
213266000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50746000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52039000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51111000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52002000
CY2019Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
383000
CY2018Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
942000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
457000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
974000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51129000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52981000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51568000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52976000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.80
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.10
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.79
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.03
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
760295000
CY2019Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
613854000
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
92795000
CY2019Q3 us-gaap Interest Expense
InterestExpense
31606000
CY2019Q3 us-gaap Assets
Assets
6597659000
CY2019Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
101991000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
829275000
CY2018Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
691350000
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
86088000
CY2018Q3 us-gaap Interest Expense
InterestExpense
31440000
CY2018Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1224000
CY2018Q3 us-gaap Assets
Assets
6184860000
CY2018Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
321566000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2228372000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1841419000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
272929000
skyw Special Charges And Write Down Value Of Assets
SpecialChargesAndWriteDownValueOfAssets
21869000
us-gaap Interest Expense
InterestExpense
96884000
CY2019Q3 us-gaap Assets
Assets
6597659000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
652232000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2418190000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2065412000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
246386000
us-gaap Interest Expense
InterestExpense
86485000
CY2018Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1224000
CY2018Q3 us-gaap Assets
Assets
6184860000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
954071000
skyw Operating Leases Number Of Aircraft Leased
OperatingLeasesNumberOfAircraftLeased
91
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
326700000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
87500000
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
254300000
us-gaap Operating Lease Payments
OperatingLeasePayments
58600000
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;"><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: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;">September 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;">6.75 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>
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
25173000
CY2018Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
42286000
CY2019Q3 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1343000
CY2018Q3 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1184000
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
357000
CY2019Q3 us-gaap Lease Cost
LeaseCost
26159000
CY2018Q3 us-gaap Lease Cost
LeaseCost
43470000
us-gaap Operating Lease Cost
OperatingLeaseCost
80041000
us-gaap Operating Lease Cost
OperatingLeaseCost
140544000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
4164000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
3996000
us-gaap Sublease Income
SubleaseIncome
357000
us-gaap Lease Cost
LeaseCost
83848000
us-gaap Lease Cost
LeaseCost
144540000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
17603000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
91892000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
80540000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
70900000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
65521000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
103819000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
430275000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
430275000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
17603000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
91892000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
80540000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
70900000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
65521000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
103819000
CY2019Q3 us-gaap Purchase Obligation
PurchaseObligation
365794000
CY2019Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
167037000
CY2019Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
187757000
CY2019Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
11000000
CY2019Q3 skyw Interest Commitment
InterestCommitment
582997000
CY2019Q3 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
31628000
CY2019Q3 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
116550000
CY2019Q3 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
101468000
CY2019Q3 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
87294000
CY2019Q3 skyw Interest Commitment Due In Year Five
InterestCommitmentDueInYearFive
71252000
CY2019Q3 skyw Interest Commitment Due After Year Five
InterestCommitmentDueAfterYearFive
174805000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3008588000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
91192000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
361131000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
344937000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
358586000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
367322000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1485420000
CY2019Q3 us-gaap Contractual Obligation
ContractualObligation
4387654000
CY2019Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
307460000
CY2019Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
757330000
CY2019Q3 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
537945000
CY2019Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
516780000
CY2019Q3 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
504095000
CY2019Q3 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
1764044000
skyw Variable Rate Notes Percentage On Total Debt
VariableRateNotesPercentageOnTotalDebt
0.001
CY2019Q3 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
366248000
CY2018Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
354072000
CY2019Q3 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3666000
CY2018Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3866000
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
362582000
skyw Number Of Spare Engines Purchased
NumberOfSpareEnginesPurchased
14
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
350206000
CY2019Q3 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2642340000
CY2018Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2831366000
CY2019Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
20104000
CY2018Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
21598000
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2622236000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2809768000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3008588000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3185438000
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
23770000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
25464000
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
2984818000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
3159974000
skyw Debt Instrument Issued To Purchase Of Aircraft
DebtInstrumentIssuedToPurchaseOfAircraft
14500000
CY2019Q1 skyw Gain Loss On Sale Of Subsidiaries
GainLossOnSaleOfSubsidiaries
46500000
CY2019Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0685
us-gaap Loss On Contract Termination
LossOnContractTermination
18500000
us-gaap Severance Costs1
SeveranceCosts1
3400000
CY2019Q3 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.232
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210

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