$SKYW
SKYWEST INC

2021 Q1 Form 10-Q Financial Statement

#000155837021006195 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1 2019 Q4
Revenue $534.6M $729.9M $743.6M
YoY Change -26.77% 0.86% -5.08%
Cost Of Revenue $453.7M $663.6M $215.0M
YoY Change -31.63% 5.79% -5.58%
Gross Profit $80.84M $66.32M $528.5M
YoY Change 21.9% -31.22% -8.21%
Gross Profit Margin 15.12% 9.09% 71.07%
Selling, General & Admin $219.8M $249.2M $249.0M
YoY Change -11.8% -3.26% -16.92%
% of Gross Profit 271.89% 375.75% 47.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $109.6M $111.7M $95.20M
YoY Change -1.89% 24.14% 7.94%
% of Gross Profit 135.57% 168.44% 18.01%
Operating Expenses $453.7M $430.3M $403.3M
YoY Change 5.44% 4.77% -11.23%
Operating Profit $80.84M $66.32M $125.3M
YoY Change 21.9% -31.22% 42.11%
Interest Expense $31.35M $30.20M -$27.80M
YoY Change 3.81% -7.08% -9.74%
% of Operating Profit 38.78% 45.54% -22.19%
Other Income/Expense, Net -$30.85M -$27.24M $300.0K
YoY Change 13.26% -251.13% 50.0%
Pretax Income $49.99M $39.08M $97.80M
YoY Change 27.92% -65.85% 7.59%
Income Tax $14.09M $9.091M $25.30M
% Of Pretax Income 28.18% 23.26% 25.87%
Net Earnings $35.90M $30.00M $72.50M
YoY Change 19.67% -65.99% 8.05%
Net Earnings / Revenue 6.72% 4.11% 9.75%
Basic Earnings Per Share $0.71 $0.60 $1.44
Diluted Earnings Per Share $0.71 $0.59 $1.43
COMMON SHARES
Basic Shares Outstanding 50.29M 50.28M 50.40M
Diluted Shares Outstanding 50.73M 50.56M 50.80M

Balance Sheet

Concept 2021 Q1 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $836.4M $577.9M $520.2M
YoY Change 44.74% 6.17% -24.54%
Cash & Equivalents $231.0M $289.5M $87.21M
Short-Term Investments $605.4M $288.4M $433.0M
Other Short-Term Assets $23.29M $30.13M $35.55M
YoY Change -22.7% 21.01% 33.59%
Inventory $95.40M $104.8M $110.5M
Prepaid Expenses
Receivables $43.70M $37.20M $83.00M
Other Receivables $0.00 $18.90M $11.10M
Total Short-Term Assets $998.8M $769.0M $760.3M
YoY Change 29.89% -1.59% -25.51%
LONG-TERM ASSETS
Property, Plant & Equipment $5.300B $5.400B $5.395B
YoY Change -1.85% -3.85% 7.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $25.70M
YoY Change
Other Assets $282.5M $172.0M $166.1M
YoY Change 64.24% 17.25% 58.42%
Total Long-Term Assets $5.896B $5.892B $5.897B
YoY Change 0.06% 2.24% 11.42%
TOTAL ASSETS
Total Short-Term Assets $998.8M $769.0M $760.3M
Total Long-Term Assets $5.896B $5.892B $5.897B
Total Assets $6.895B $6.661B $6.657B
YoY Change 3.5% 1.79% 5.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $315.2M $407.3M $284.5M
YoY Change -22.6% 19.72% -14.31%
Accrued Expenses $231.9M $215.8M $243.7M
YoY Change 7.46% 5.01% 37.22%
Deferred Revenue $19.90M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $357.5M $364.6M $364.1M
YoY Change -1.95% 0.49% 3.97%
Total Short-Term Liabilities $950.4M $1.020B $924.7M
YoY Change -6.81% 7.89% -0.02%
LONG-TERM LIABILITIES
Long-Term Debt $2.749B $2.538B $2.629B
YoY Change 8.32% -7.19% -6.43%
Other Long-Term Liabilities $174.4M $48.37M $45.63M
YoY Change 260.5% -85.03% -31.76%
Total Long-Term Liabilities $2.923B $2.586B $2.675B
YoY Change 13.04% -15.42% -7.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $950.4M $1.020B $924.7M
Total Long-Term Liabilities $2.923B $2.586B $2.675B
Total Liabilities $3.874B $3.606B $3.599B
YoY Change 7.42% -20.65% -5.32%
SHAREHOLDERS EQUITY
Retained Earnings $2.088B $2.091B $2.079B
YoY Change -0.12% 17.03%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.182B $2.163B $2.175B
YoY Change
Total Liabilities & Shareholders Equity $6.895B $6.661B $6.657B
YoY Change 3.5% 1.79% 5.45%

Cashflow Statement

Concept 2021 Q1 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income $35.90M $30.00M $72.50M
YoY Change 19.67% -65.99% 8.05%
Depreciation, Depletion And Amortization $109.6M $111.7M $95.20M
YoY Change -1.89% 24.14% 7.94%
Cash From Operating Activities $231.6M $269.5M $138.5M
YoY Change -14.06% 73.96% -39.63%
INVESTING ACTIVITIES
Capital Expenditures $4.224M $3.542M -$202.4M
YoY Change 19.25% -93.2% -20.35%
Acquisitions
YoY Change
Other Investing Activities $67.18M $13.97M -$149.4M
YoY Change 380.86% -298.78% -1240.46%
Cash From Investing Activities -$121.4M $54.99M -$351.7M
YoY Change -320.79% -171.5% 45.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.745M $18.47M
YoY Change -90.55% -42.38%
Debt Paid & Issued, Net $135.0M $89.80M
YoY Change 50.35% -8.56%
Cash From Financing Activities -94.90M -122.1M -7.600M
YoY Change -22.29% 5.73% -149.03%
NET CHANGE
Cash From Operating Activities 231.6M 269.5M 138.5M
Cash From Investing Activities -121.4M 54.99M -351.7M
Cash From Financing Activities -94.90M -122.1M -7.600M
Net Change In Cash 15.28M 202.3M -220.8M
YoY Change -92.45% -639.58% -5761.54%
FREE CASH FLOW
Cash From Operating Activities $231.6M $269.5M $138.5M
Capital Expenditures $4.224M $3.542M -$202.4M
Free Cash Flow $227.4M $265.9M $340.9M
YoY Change -14.5% 158.6% -29.49%

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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-121407000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
54987000
CY2021Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
39931000
CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
135007000
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
89796000
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1745000
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1532000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000000
CY2021Q1 skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1573000
CY2020Q1 skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
6165000
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1664000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6039000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-94904000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-122132000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
15282000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
202338000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
215723000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87206000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
231005000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
289544000
CY2021Q1 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
1380000
CY2020Q1 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
34100000
CY2021Q1 skyw Warrants Issued
WarrantsIssued
3291000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
31646000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
31413000
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
157000
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
126000
CY2021Q1 skyw Liquid Assets
LiquidAssets
1542400000
CY2021Q1 skyw Cash And Marketable Securities
CashAndMarketableSecurities
836400000
CY2021Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
41000000.0
CY2021Q1 skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.866
CY2020Q1 skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.859
CY2021Q1 skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.134
CY2020Q1 skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.141
CY2021Q1 skyw Percentage Of Reduction In Completed Departures Of Flights
PercentageOfReductionInCompletedDeparturesOfFlights
0.26
CY2021Q1 skyw Percentage Of Reduction In Completed Block Hours Of Flights
PercentageOfReductionInCompletedBlockHoursOfFlights
0.23
CY2021Q1 skyw Contract With Customer Liability Additions Made During Period
ContractWithCustomerLiabilityAdditionsMadeDuringPeriod
21200000
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
131900000
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
19900000
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
112000000.0
CY2021Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
14950000
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
10546000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
34167000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
45391000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
44848000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
42530000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
39082000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
155089000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
361107000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5300000000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
45900000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
46200000
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
300000
CY2021Q1 skyw Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Replacement With Common Stock Shares Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingReplacementWithCommonStockSharesRatio
0.01
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2600000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1600000
CY2021Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
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
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
295000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
219000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35900000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29988000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50286000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50277000
CY2021Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
441000
CY2020Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
282000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50727000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50559000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.71
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
534555000
CY2021Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
453713000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
109597000
CY2021Q1 us-gaap Interest Expense
InterestExpense
31354000
CY2021Q1 skyw Segment Profit
SegmentProfit
49488000
CY2021Q1 us-gaap Assets
Assets
6894685000
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
57508000
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 skyw Segment Profit
SegmentProfit
36117000
CY2020Q1 us-gaap Assets
Assets
6661411000
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
111124000
CY2021Q1 skyw Operating Leases Number Of Aircraft Leased
OperatingLeasesNumberOfAircraftLeased
42
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
274000000.0
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
82700000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
200600000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
16600000
CY2021Q1 skyw Schedule Of Related Terms And Discount Rates
ScheduleOfRelatedTermsAndDiscountRates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;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;">As of March 31, 2021</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;">6.4 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>
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
22127000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
25018000
CY2021Q1 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1224000
CY2020Q1 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1344000
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
1335000
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
1571000
CY2021Q1 us-gaap Lease Cost
LeaseCost
22016000
CY2020Q1 us-gaap Lease Cost
LeaseCost
24791000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
70255000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79112000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
72153000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29274000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16725000
CY2021Q1 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
83239000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
350758000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
350758000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
70255000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79112000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
72153000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29274000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16725000
CY2021Q1 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
83239000
CY2021Q1 us-gaap Purchase Obligation
PurchaseObligation
555458000
CY2021Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
499306000
CY2021Q1 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
56152000
CY2021Q1 skyw Interest Commitment
InterestCommitment
522585000
CY2021Q1 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
90454000
CY2021Q1 skyw Interest Commitment Due In Next Twelve Months
InterestCommitmentDueInNextTwelveMonths
106979000
CY2021Q1 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
89228000
CY2021Q1 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
73056000
CY2021Q1 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
57835000
CY2021Q1 skyw Interest Commitment Due After Year Four
InterestCommitmentDueAfterYearFour
105033000
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3140774000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
271082000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
407226000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
417720000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
371994000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
446924000
CY2021Q1 skyw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1225828000
CY2021Q1 us-gaap Contractual Obligation
ContractualObligation
4569575000
CY2021Q1 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
931097000
CY2021Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
649469000
CY2021Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
579101000
CY2021Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
474324000
CY2021Q1 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
521484000
CY2021Q1 skyw Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1414100000
CY2021Q1 skyw Fixed Interest Debt Percent
FixedInterestDebtPercent
0.981
CY2021Q1 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
360843000
CY2020Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
406005000
CY2021Q1 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3380000
CY2020Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3847000
CY2021Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
357463000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
402158000
CY2021Q1 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2779931000
CY2020Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2829997000
CY2021Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
31214000
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
28459000
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2748717000
CY2021Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
41000000.0
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2801538000
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3140774000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3236002000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
34594000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32306000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
3106180000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
3203696000
CY2021Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
75000000
CY2021Q1 us-gaap Line Of Credit
LineOfCredit
0
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.282
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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
CY2020Q1 skyw Offset Discrete Tax Benefit
OffsetDiscreteTaxBenefit
1400000

Files In Submission

Name View Source Status
0001558370-21-006195-index-headers.html Edgar Link pending
0001558370-21-006195-index.html Edgar Link pending
0001558370-21-006195.txt Edgar Link pending
0001558370-21-006195-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
skyw-20210331.xsd Edgar Link pending
skyw-20210331x10q.htm Edgar Link pending
skyw-20210331x10q_htm.xml Edgar Link completed
skyw-20210331xex10d4.htm Edgar Link pending
skyw-20210331xex10d5.htm Edgar Link pending
skyw-20210331xex31d1.htm Edgar Link pending
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skyw-20210331xex32d1.htm Edgar Link pending
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skyw-20210331xex4d3.htm Edgar Link pending
skyw-20210331_cal.xml Edgar Link unprocessable
skyw-20210331_def.xml Edgar Link unprocessable
skyw-20210331_lab.xml Edgar Link unprocessable
skyw-20210331_pre.xml Edgar Link unprocessable