$SKYW
SKYWEST INC

2020 Q2 Form 10-Q Financial Statement

#000155837020009934 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $350.0M $744.4M
YoY Change -52.98% -10.24%
Cost Of Revenue $354.4M $600.3M
YoY Change -40.95% -11.57%
Gross Profit -$4.403M $144.1M
YoY Change -103.06% -4.22%
Gross Profit Margin -1.26% 19.36%
Selling, General & Admin $170.2M $243.8M
YoY Change -30.19% -16.99%
% of Gross Profit 169.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $131.6M $90.15M
YoY Change 46.02% 8.99%
% of Gross Profit 62.56%
Operating Expenses $339.9M $395.9M
YoY Change -14.14% -11.15%
Operating Profit -$4.403M $144.1M
YoY Change -103.06% 4.47%
Interest Expense $30.93M $32.77M
YoY Change -5.63% 13.74%
% of Operating Profit 22.74%
Other Income/Expense, Net -$28.84M -$28.76M
YoY Change 0.28% 1.44%
Pretax Income -$33.24M $115.3M
YoY Change -128.82% 17.3%
Income Tax -$7.527M $27.28M
% Of Pretax Income 23.66%
Net Earnings -$25.70M $88.10M
YoY Change -129.17% 16.07%
Net Earnings / Revenue -7.34% 11.84%
Basic Earnings Per Share -$0.51 $1.72
Diluted Earnings Per Share -$0.51 $1.71
COMMON SHARES
Basic Shares Outstanding 50.14M 51.15M
Diluted Shares Outstanding 50.14M 51.48M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $762.1M $549.6M
YoY Change 38.66% -15.33%
Cash & Equivalents $452.2M $253.7M
Short-Term Investments $309.8M $295.9M
Other Short-Term Assets $24.58M $17.22M
YoY Change 42.8% -86.22%
Inventory $97.80M $109.8M
Prepaid Expenses
Receivables $42.50M $80.20M
Other Receivables $18.90M $23.10M
Total Short-Term Assets $945.8M $779.9M
YoY Change 21.27% -20.02%
LONG-TERM ASSETS
Property, Plant & Equipment $5.300B $5.291B
YoY Change 0.17% 13.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.70M
YoY Change
Other Assets $190.8M $172.3M
YoY Change 10.72% -38.16%
Total Long-Term Assets $5.828B $5.800B
YoY Change 0.47% 17.46%
TOTAL ASSETS
Total Short-Term Assets $945.8M $779.9M
Total Long-Term Assets $5.828B $5.800B
Total Assets $6.773B $6.580B
YoY Change 2.94% 11.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $322.5M $321.2M
YoY Change 0.38% 10.39%
Accrued Expenses $216.6M $225.8M
YoY Change -4.07% 27.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $309.2M $345.3M
YoY Change -10.45% -2.39%
Total Short-Term Liabilities $986.2M $927.3M
YoY Change 6.35% 5.55%
LONG-TERM LIABILITIES
Long-Term Debt $2.664B $2.719B
YoY Change -2.02% 3.95%
Other Long-Term Liabilities $116.0M $46.45M
YoY Change 149.81% -52.75%
Total Long-Term Liabilities $2.780B $2.765B
YoY Change 0.53% 1.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $986.2M $927.3M
Total Long-Term Liabilities $2.780B $2.765B
Total Liabilities $3.766B $3.693B
YoY Change 1.99% -8.87%
SHAREHOLDERS EQUITY
Retained Earnings $2.065B $1.927B
YoY Change 7.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.143B $2.052B
YoY Change
Total Liabilities & Shareholders Equity $6.773B $6.580B
YoY Change 2.94% 11.28%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$25.70M $88.10M
YoY Change -129.17% 16.07%
Depreciation, Depletion And Amortization $131.6M $90.15M
YoY Change 46.02% 8.99%
Cash From Operating Activities $222.8M $207.2M
YoY Change 7.53% 12.06%
INVESTING ACTIVITIES
Capital Expenditures -$93.50M -$164.3M
YoY Change -43.09% -54.96%
Acquisitions
YoY Change
Other Investing Activities -$32.10M -$7.900M
YoY Change 306.33% -90.46%
Cash From Investing Activities -$125.6M -$172.1M
YoY Change -27.02% -61.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 65.50M -72.30M
YoY Change -190.59% -138.66%
NET CHANGE
Cash From Operating Activities 222.8M 207.2M
Cash From Investing Activities -125.6M -172.1M
Cash From Financing Activities 65.50M -72.30M
Net Change In Cash 162.7M -37.20M
YoY Change -537.37% -50.86%
FREE CASH FLOW
Cash From Operating Activities $222.8M $207.2M
Capital Expenditures -$93.50M -$164.3M
Free Cash Flow $316.3M $371.5M
YoY Change -14.86% -32.42%

Facts In Submission

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CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
99000
CY2020Q2 skyw Net Unrealized Appreciation On Marketable Securities Net Of Tax
NetUnrealizedAppreciationOnMarketableSecuritiesNetOfTax
307000
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2087000
CY2020Q2 skyw Coronavirus Aid Relief And Economic Security Act Warrant Issuance
CoronavirusAidReliefAndEconomicSecurityActWarrantIssuance
2845000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
2142962000
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
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88181000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
10000
CY2019Q1 skyw Net Unrealized Appreciation On Marketable Securities Net Of Tax
NetUnrealizedAppreciationOnMarketableSecuritiesNetOfTax
32000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
641000
CY2019Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1620000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-578000
CY2019Q1 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
9311000
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25000000
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
CY2019Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
6158000
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
CY2019Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
18476000
CY2019Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
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
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
492283000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
362123000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
475156000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
896326000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
598606000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
961403000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1366000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
21065000
CY2020Q2 skyw Percentage Of Reduction In Completed Departures Of Flights
PercentageOfReductionInCompletedDeparturesOfFlights
0.62
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
161167000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
325969000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8695000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55865000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
625000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
31817000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
9220000
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
34172000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1962000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-70623000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-249049000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
98059000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
99914000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
115189000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
211200000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1532000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4540000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
26165000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
68932000
skyw Payment Of Debt Issuance And Lessor Initial Direct Costs
PaymentOfDebtIssuanceAndLessorInitialDirectCosts
1797000
skyw Payment Of Debt Issuance And Lessor Initial Direct Costs
PaymentOfDebtIssuanceAndLessorInitialDirectCosts
820000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13059000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11299000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56619000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-187797000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
365041000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-74723000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87206000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
328384000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
452247000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
253661000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
13522000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
3244000
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
14475000
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
skyw Coronavirus Aid Relief And Economic Security Act Warrant Issuance
CoronavirusAidReliefAndEconomicSecurityActWarrantIssuance
2845000
us-gaap Interest Paid Net
InterestPaidNet
41881000
us-gaap Interest Paid Net
InterestPaidNet
67778000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
303000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1713000
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
CY2020Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
9485000
CY2020Q2 skyw Percentage Of Reduction In Completed Block Hours Of Flights
PercentageOfReductionInCompletedBlockHoursOfFlights
0.66
CY2020Q2 skyw Liquid Assets
LiquidAssets
828300000
CY2020Q2 skyw Cash And Marketable Securities
CashAndMarketableSecurities
762100000
CY2020Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
66200000
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.869
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.131
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5300000000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
11974000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
22508000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
22196000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
21643000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
21336000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
70938000
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
170595000
CY2019Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
9016000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
20026000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
18038000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25715000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88052000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4273000
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
69100000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
15388000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4308000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19696000
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
3800000
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
385606
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
20000000.0
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6200000
CY2020Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
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 Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
219000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
165000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
176233000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50140000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51145000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50208000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51293000
CY2019Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
332000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
149000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
494000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50140000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51477000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50357000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51787000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.72
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1079975000
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
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.44
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.71
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.40
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
350039000
CY2020Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
354442000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
131638000
CY2020Q2 us-gaap Interest Expense
InterestExpense
30926000
CY2020Q2 us-gaap Assets
Assets
6773383000
CY2020Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
72260000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1018057000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
243346000
us-gaap Interest Expense
InterestExpense
61130000
CY2020Q2 us-gaap Assets
Assets
6773383000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
183384000
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
skyw Operating Leases Number Of Aircraft Leased
OperatingLeasesNumberOfAircraftLeased
107
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
310000000.0
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
87400000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
238600000
us-gaap Operating Lease Payments
OperatingLeasePayments
41300000
skyw Schedule Of Related Terms And Discount Rates
ScheduleOfRelatedTermsAndDiscountRates
<p style="font-family:'Times New Roman','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">June 30, 2020</b></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:68.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Weighted-average remaining lease term for operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.72%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">    </p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:25.18%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">6.7 years</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';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','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;">6.1%</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','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr></table>
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
24140000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
27647000
us-gaap Operating Lease Cost
OperatingLeaseCost
49158000
us-gaap Operating Lease Cost
OperatingLeaseCost
54868000
CY2020Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1207000
CY2019Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1346000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2551000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2821000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
1560000
us-gaap Sublease Income
SubleaseIncome
3131000
CY2020Q2 us-gaap Lease Cost
LeaseCost
23787000
CY2019Q2 us-gaap Lease Cost
LeaseCost
28993000
us-gaap Lease Cost
LeaseCost
48578000
us-gaap Lease Cost
LeaseCost
57689000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
49498000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
85084000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
76132000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
69394000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
28091000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
98424000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
406623000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
406623000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
49498000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
85084000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
76132000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
69394000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
28091000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
98424000
CY2020Q2 us-gaap Purchase Obligation
PurchaseObligation
661406000
CY2020Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
110007000
CY2020Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
159719000
CY2020Q2 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
391680000
CY2020Q2 skyw Interest Commitment
InterestCommitment
570669000
CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
309159000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
364126000
CY2020Q2 skyw Debt Instrument Carrying Amount Noncurrent
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2684331000
CY2019Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2649569000
CY2020Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
20209000
CY2019Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
20580000
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2664122000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2628989000
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2996869000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3017523000
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
23588000
CY2020Q2 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
81103000
CY2020Q2 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
111231000
CY2020Q2 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
96260000
CY2020Q2 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
79076000
CY2020Q2 skyw Interest Commitment Due In Year Five
InterestCommitmentDueInYearFive
63594000
CY2020Q2 skyw Interest Commitment Due After Year Five
InterestCommitmentDueAfterYearFive
139405000
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2996869000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
120956000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
388638000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
389593000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
399472000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
353106000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1345104000
CY2020Q2 us-gaap Contractual Obligation
ContractualObligation
4635567000
CY2020Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
361564000
CY2020Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
744672000
CY2020Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
953665000
CY2020Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
547942000
CY2020Q2 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
444791000
CY2020Q2 us-gaap Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
1582933000
CY2020Q2 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
312538000
CY2019Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
367954000
CY2020Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3379000
CY2019Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3828000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
24408000
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
2973281000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
2993115000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.268
CY2020Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
75000000
CY2020Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2020Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
66200000
CY2019Q1 skyw Gain Loss On Sale Of Subsidiaries
GainLossOnSaleOfSubsidiaries
46500000
us-gaap Loss On Contract Termination
LossOnContractTermination
18500000
us-gaap Severance Costs1
SeveranceCosts1
3400000
us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
0
CY2019 skyw Number Of Spare Engines Purchased
NumberOfSpareEnginesPurchased
15
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.226
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
1400000
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
CY2019Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
1300000
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
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
3500000

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