$SKYW
SKYWEST INC

2020 Q1 Form 10-Q Financial Statement

#000155837020005996 Filed on May 08, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $729.9M $723.7M
YoY Change 0.86% -9.93%
Cost Of Revenue $663.6M $627.3M
YoY Change 5.79% 158.67%
Gross Profit $66.32M $96.42M
YoY Change -31.22% -82.17%
Gross Profit Margin 9.09% 13.32%
Selling, General & Admin $249.2M $257.6M
YoY Change -3.26% -16.01%
% of Gross Profit 375.75% 267.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $111.7M $89.99M
YoY Change 24.14% 15.96%
% of Gross Profit 168.44% 93.33%
Operating Expenses $430.3M $410.7M
YoY Change 4.77% -9.28%
Operating Profit $66.32M $96.42M
YoY Change -31.22% -20.64%
Interest Expense $30.20M $32.51M
YoY Change -7.08% -232.68%
% of Operating Profit 45.54% 33.71%
Other Income/Expense, Net -$27.24M $18.03M
YoY Change -251.13% 400.69%
Pretax Income $39.08M $114.4M
YoY Change -65.85% 70.3%
Income Tax $9.091M $26.26M
% Of Pretax Income 23.26% 22.95%
Net Earnings $30.00M $88.20M
YoY Change -65.99% 62.13%
Net Earnings / Revenue 4.11% 12.19%
Basic Earnings Per Share $0.60 $1.71
Diluted Earnings Per Share $0.59 $1.69
COMMON SHARES
Basic Shares Outstanding 50.28M 51.44M
Diluted Shares Outstanding 50.56M 52.10M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $577.9M $544.3M
YoY Change 6.17% -15.68%
Cash & Equivalents $289.5M $290.9M
Short-Term Investments $288.4M $253.4M
Other Short-Term Assets $30.13M $24.90M
YoY Change 21.01% -79.23%
Inventory $104.8M $112.6M
Prepaid Expenses
Receivables $37.20M $78.40M
Other Receivables $18.90M $21.20M
Total Short-Term Assets $769.0M $781.4M
YoY Change -1.59% -17.97%
LONG-TERM ASSETS
Property, Plant & Equipment $5.400B $5.617B
YoY Change -3.85% 28.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $172.0M $146.7M
YoY Change 17.25% -46.15%
Total Long-Term Assets $5.892B $5.763B
YoY Change 2.24% 24.0%
TOTAL ASSETS
Total Short-Term Assets $769.0M $781.4M
Total Long-Term Assets $5.892B $5.763B
Total Assets $6.661B $6.545B
YoY Change 1.79% 16.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $407.3M $340.2M
YoY Change 19.72% 17.27%
Accrued Expenses $215.8M $205.5M
YoY Change 5.01% 27.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $364.6M $362.8M
YoY Change 0.49% 8.17%
Total Short-Term Liabilities $1.020B $945.3M
YoY Change 7.89% 12.83%
LONG-TERM LIABILITIES
Long-Term Debt $2.538B $2.734B
YoY Change -7.19% 12.02%
Other Long-Term Liabilities $48.37M $323.1M
YoY Change -85.03% 223.75%
Total Long-Term Liabilities $2.586B $3.057B
YoY Change -15.42% 20.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.020B $945.3M
Total Long-Term Liabilities $2.586B $3.057B
Total Liabilities $3.606B $4.544B
YoY Change -20.65% 19.17%
SHAREHOLDERS EQUITY
Retained Earnings $2.091B
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.163B $2.001B
YoY Change
Total Liabilities & Shareholders Equity $6.661B $6.545B
YoY Change 1.79% 16.86%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $30.00M $88.20M
YoY Change -65.99% 62.13%
Depreciation, Depletion And Amortization $111.7M $89.99M
YoY Change 24.14% 15.96%
Cash From Operating Activities $269.5M $154.9M
YoY Change 73.96% -6.62%
INVESTING ACTIVITIES
Capital Expenditures $3.542M $52.08M
YoY Change -93.2% -125.02%
Acquisitions
YoY Change
Other Investing Activities $13.97M -$7.028M
YoY Change -298.78% -106.51%
Cash From Investing Activities $54.99M -$76.91M
YoY Change -171.5% -23.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $18.47M $32.05M
YoY Change -42.38%
Debt Paid & Issued, Net $89.80M $98.20M
YoY Change -8.56%
Cash From Financing Activities -122.1M -115.5M
YoY Change 5.73% -3139.68%
NET CHANGE
Cash From Operating Activities 269.5M 154.9M
Cash From Investing Activities 54.99M -76.91M
Cash From Financing Activities -122.1M -115.5M
Net Change In Cash 202.3M -37.50M
YoY Change -639.58% -153.88%
FREE CASH FLOW
Cash From Operating Activities $269.5M $154.9M
Capital Expenditures $3.542M $52.08M
Free Cash Flow $265.9M $102.8M
YoY Change 158.6% -72.5%

Facts In Submission

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SKYWEST INC
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-76905000
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
19940000
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
89796000
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
98204000
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1532000
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2261000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
26165000
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
34311000
CY2020Q1 skyw Payment Of Debt Issuance And Lessor Initial Direct Costs
PaymentOfDebtIssuanceAndLessorInitialDirectCosts
1664000
CY2019Q1 skyw Payment Of Debt Issuance And Lessor Initial Direct Costs
PaymentOfDebtIssuanceAndLessorInitialDirectCosts
53000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6039000
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5141000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-122132000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-115508000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
202338000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-37499000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
289544000
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
290885000
CY2020Q1 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
34100000
CY2019Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
14475000
CY2019Q1 skyw Right Of Use Assets On Aircraft Acquired Under Operating Leases
RightOfUseAssetsOnAircraftAcquiredUnderOperatingLeases
150688000
CY2019Q1 skyw Lease Liability Arising From Recognition Of Right Of Use Asset
LeaseLiabilityArisingFromRecognitionOfRightOfUseAsset
456472000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
31413000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
34288000
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
126000
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1653000
CY2019Q1 skyw Increase Decrease In Carrying Amount Of Assets
IncreaseDecreaseInCarryingAmountOfAssets
-101448000
CY2019Q1 skyw Increase Decrease In Carrying Amount Of Liabilities
IncreaseDecreaseInCarryingAmountOfLiabilities
-68341000
CY2019Q1 us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
79632000
CY2019Q1 skyw Gain Loss On Sale Of Subsidiaries
GainLossOnSaleOfSubsidiaries
46525000
CY2019Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
9058000
CY2020Q1 skyw Liquid Assets
LiquidAssets
644100000
CY2020Q1 skyw Cash And Marketable Securities
CashAndMarketableSecurities
577900000
CY2020Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
66200000
CY2020Q1 skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.859
CY2020Q1 skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.141
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5400000000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
23484000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
27849000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
27606000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
24704000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
24396000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
87235000
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
215274000
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
10546000
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
1571000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
15388000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3756000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19144000
CY2020Q1 skyw Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Replacement With Common Stock Shares Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingReplacementWithCommonStockSharesRatio
0.01
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3900000
CY2020Q1 skyw Severance Costs Gross
SeveranceCostsGross
7900000
CY2020Q1 skyw Forfeiture Credit Share Based Compensation Stock
ForfeitureCreditShareBasedCompensationStock
4500000
CY2020Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
385606
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
20000000.0
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6200000
CY2019Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
476277
CY2019Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25000000.0
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9300000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
219000
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
241000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29988000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88181000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50277000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51440000
CY2020Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
282000
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.69
CY2020Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
729936000
CY2020Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
663615000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
111708000
CY2020Q1 us-gaap Interest Expense
InterestExpense
30204000
CY2020Q1 us-gaap Assets
Assets
6661411000
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
111124000
CY2020Q1 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;">March 31, 2020</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 for operating leases</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;">6.8 years</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;">Weighted-average discount rate for operating leases</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>
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2019Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
658000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50559000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52098000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.71
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
723694000
CY2019Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
627275000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
89986000
CY2019Q1 skyw Special Charges And Write Down Value Of Assets
SpecialChargesAndWriteDownValueOfAssets
21869000
CY2019Q1 us-gaap Interest Expense
InterestExpense
32507000
CY2019Q1 us-gaap Assets
Assets
6544532000
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
414579000
CY2020Q1 skyw Operating Leases Number Of Aircraft Leased
OperatingLeasesNumberOfAircraftLeased
103
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
326700000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
88600000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
259000000.0
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
17700000
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
25018000
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
27221000
CY2020Q1 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1344000
CY2019Q1 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1475000
CY2020Q1 us-gaap Lease Cost
LeaseCost
24791000
CY2019Q1 us-gaap Lease Cost
LeaseCost
28696000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
434499000
CY2020Q1 us-gaap Contractual Obligation
ContractualObligation
4619711000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
434499000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
75137000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
85409000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
75776000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
69623000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
28320000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
100234000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
75137000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
85409000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
75776000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
69623000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
28320000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
100234000
CY2020Q1 us-gaap Purchase Obligation
PurchaseObligation
714797000
CY2020Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
435183000
CY2020Q1 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
274114000
CY2020Q1 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
5500000
CY2020Q1 skyw Interest Commitment
InterestCommitment
543153000
CY2020Q1 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
88581000
CY2020Q1 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
104678000
CY2020Q1 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
90251000
CY2020Q1 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
73946000
CY2020Q1 skyw Interest Commitment Due In Year Five
InterestCommitmentDueInYearFive
59373000
CY2020Q1 skyw Interest Commitment Due After Year Five
InterestCommitmentDueAfterYearFive
126324000
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2927262000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
277692000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
352005000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
365907000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
374906000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
327630000
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1229122000
CY2020Q1 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
876593000
CY2020Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
816206000
CY2020Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
537434000
CY2020Q1 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
518475000
CY2020Q1 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
415323000
CY2020Q1 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
1455680000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2537613000
CY2020Q1 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
368558000
CY2019Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
367954000
CY2020Q1 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3979000
CY2019Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3828000
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
364579000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
364126000
CY2020Q1 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2558704000
CY2019Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2649569000
CY2020Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
21091000
CY2019Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
20580000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2628989000
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2927262000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3017523000
CY2020Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
25070000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
24408000
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
2902192000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
2993115000
CY2020Q1 us-gaap Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
0
CY2020Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
75000000
CY2020Q1 us-gaap Line Of Credit
LineOfCredit
0
CY2020Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
66200000
CY2019Q1 skyw Gain Loss On Sale Of Subsidiaries
GainLossOnSaleOfSubsidiaries
46500000
CY2019Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0685
CY2019Q1 us-gaap Loss On Contract Termination
LossOnContractTermination
18500000
CY2019Q1 us-gaap Severance Costs1
SeveranceCosts1
3400000
CY2020Q1 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
0
CY2019 skyw Number Of Spare Engines Purchased
NumberOfSpareEnginesPurchased
15
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.230
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210

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