$SKYW
SKYWEST INC

2021 Q2 Form 10-Q Financial Statement

#000155837021010962 Filed on August 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $657.0M $350.0M
YoY Change 87.69% -52.98%
Cost Of Revenue $542.0M $354.4M
YoY Change 52.91% -40.95%
Gross Profit $115.0M -$4.403M
YoY Change -2712.38% -103.06%
Gross Profit Margin 17.51% -1.26%
Selling, General & Admin $233.4M $170.2M
YoY Change 37.15% -30.19%
% of Gross Profit 202.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $109.9M $131.6M
YoY Change -16.52% 46.02%
% of Gross Profit 95.54%
Operating Expenses $542.0M $339.9M
YoY Change 59.45% -14.14%
Operating Profit $115.0M -$4.403M
YoY Change -2712.38% -103.06%
Interest Expense $33.94M $30.93M
YoY Change 9.75% -5.63%
% of Operating Profit 29.51%
Other Income/Expense, Net -$33.65M -$28.84M
YoY Change 16.68% 0.28%
Pretax Income $81.37M -$33.24M
YoY Change -344.79% -128.82%
Income Tax $19.38M -$7.527M
% Of Pretax Income 23.82%
Net Earnings $61.99M -$25.70M
YoY Change -341.22% -129.17%
Net Earnings / Revenue 9.44% -7.34%
Basic Earnings Per Share $1.23 -$0.51
Diluted Earnings Per Share $1.22 -$0.51
COMMON SHARES
Basic Shares Outstanding 50.35M 50.14M
Diluted Shares Outstanding 50.73M 50.14M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $955.7M $762.1M
YoY Change 25.41% 38.66%
Cash & Equivalents $345.9M $452.2M
Short-Term Investments $609.8M $309.8M
Other Short-Term Assets $21.26M $24.58M
YoY Change -13.51% 42.8%
Inventory $97.99M $97.80M
Prepaid Expenses
Receivables $55.91M $42.50M
Other Receivables $0.00 $18.90M
Total Short-Term Assets $1.131B $945.8M
YoY Change 19.56% 21.27%
LONG-TERM ASSETS
Property, Plant & Equipment $5.300B $5.300B
YoY Change 0.0% 0.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $25.80M $24.70M
YoY Change 4.45%
Other Assets $288.6M $190.8M
YoY Change 51.26% 10.72%
Total Long-Term Assets $5.861B $5.828B
YoY Change 0.57% 0.47%
TOTAL ASSETS
Total Short-Term Assets $1.131B $945.8M
Total Long-Term Assets $5.861B $5.828B
Total Assets $6.992B $6.773B
YoY Change 3.22% 2.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $299.8M $322.5M
YoY Change -7.04% 0.38%
Accrued Expenses $248.6M $216.6M
YoY Change 14.79% -4.07%
Deferred Revenue $60.50M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $361.0M $309.2M
YoY Change 16.76% -10.45%
Total Short-Term Liabilities $1.109B $986.2M
YoY Change 12.49% 6.35%
LONG-TERM LIABILITIES
Long-Term Debt $2.652B $2.664B
YoY Change -0.45% -2.02%
Other Long-Term Liabilities $137.1M $116.0M
YoY Change 18.17% 149.81%
Total Long-Term Liabilities $2.789B $2.780B
YoY Change 0.33% 0.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.109B $986.2M
Total Long-Term Liabilities $2.789B $2.780B
Total Liabilities $3.899B $3.766B
YoY Change 3.52% 1.99%
SHAREHOLDERS EQUITY
Retained Earnings $2.150B $2.065B
YoY Change 4.12% 7.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.249B $2.143B
YoY Change
Total Liabilities & Shareholders Equity $6.992B $6.773B
YoY Change 3.22% 2.94%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $61.99M -$25.70M
YoY Change -341.22% -129.17%
Depreciation, Depletion And Amortization $109.9M $131.6M
YoY Change -16.52% 46.02%
Cash From Operating Activities $267.1M $222.8M
YoY Change 19.88% 7.53%
INVESTING ACTIVITIES
Capital Expenditures -$69.32M -$93.50M
YoY Change -25.86% -43.09%
Acquisitions
YoY Change
Other Investing Activities $8.338M -$32.10M
YoY Change -125.98% 306.33%
Cash From Investing Activities -$60.98M -$125.6M
YoY Change -51.45% -27.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -91.28M 65.50M
YoY Change -239.35% -190.59%
NET CHANGE
Cash From Operating Activities 267.1M 222.8M
Cash From Investing Activities -60.98M -125.6M
Cash From Financing Activities -91.28M 65.50M
Net Change In Cash 114.8M 162.7M
YoY Change -29.42% -537.37%
FREE CASH FLOW
Cash From Operating Activities $267.1M $222.8M
Capital Expenditures -$69.32M -$93.50M
Free Cash Flow $336.4M $316.3M
YoY Change 6.36% -14.86%

Facts In Submission

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StockIssuedDuringPeriodValueStockOptionsExercised
38000
CY2020Q1 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
6165000
CY2020Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1494000
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1727000
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
20000000
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
7019000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
2163438000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25715000
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2087000
CY2020Q2 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
2845000
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
99000
CY2020Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
307000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
2142962000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
498688000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
492283000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
798877000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
6165000
CY2020Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
9485000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1366000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1797000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13059000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
58269000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-186176000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
475156000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
799241000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
598606000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
63450000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
161167000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8700000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8695000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2282000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
625000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
9220000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
54608000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
34172000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-182381000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-70623000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
95430000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
98059000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
281778000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
115189000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1745000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1532000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1573000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56619000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
130131000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
365041000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
215723000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87206000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
345854000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
452247000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
11797000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
13522000
skyw Warrants Issued
WarrantsIssued
5804000
skyw Warrants Issued
WarrantsIssued
2845000
us-gaap Interest Paid Net
InterestPaidNet
66767000
us-gaap Interest Paid Net
InterestPaidNet
41881000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
457000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
303000
CY2020Q2 skyw Number Of Flights Operated
NumberOfFlightsOperated
80755
CY2021Q2 skyw Number Of Flights Operated
NumberOfFlightsOperated
185498
CY2021Q2 skyw Percentage Of Flights Increased
PercentageOfFlightsIncreased
1.297
CY2019Q2 skyw Number Of Flights Operated
NumberOfFlightsOperated
215052
CY2021Q2 skyw Liquid Assets
LiquidAssets
996700000
CY2021Q2 skyw Cash And Marketable Securities
CashAndMarketableSecurities
955700000
CY2021Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
41000000.0
CY2021Q2 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
61200000
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.850
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
0.150
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.131
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
137500000
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
60500000
CY2021Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
77000000.0
CY2021Q2 us-gaap Number Of Aircraft Operated
NumberOfAircraftOperated
478
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
16458000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1600000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
31408000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
20026000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
22776000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
45428000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
44945000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
42530000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
39082000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
155089000
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
349850000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5300000000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
44600000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
46200000
skyw Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Replacement With Common Stock Shares Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingReplacementWithCommonStockSharesRatio
1
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3800000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1600000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
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
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
295000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
219000
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
78000
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
57.47
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61994000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25715000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
97894000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4273000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50346000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50140000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50316000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50208000
CY2021Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
379000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
411000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
149000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50725000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50140000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50727000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50357000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.23
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
656990000
CY2021Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
541967000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
109895000
CY2021Q2 us-gaap Interest Expense
InterestExpense
33940000
CY2021Q2 skyw Segment Profit
SegmentProfit
81083000
CY2021Q2 us-gaap Assets
Assets
6991763000
CY2021Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
26439000
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 skyw Segment Profit
SegmentProfit
-35329000
CY2020Q2 us-gaap Assets
Assets
6773383000
CY2020Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
72260000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1191545000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
995680000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
219492000
us-gaap Interest Expense
InterestExpense
65294000
skyw Segment Profit
SegmentProfit
130571000
CY2021Q2 us-gaap Assets
Assets
6991763000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
83947000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1079975000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1018057000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
243346000
us-gaap Interest Expense
InterestExpense
61130000
skyw Segment Profit
SegmentProfit
788000
CY2020Q2 us-gaap Assets
Assets
6773383000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
183384000
skyw Operating Leases Number Of Aircraft Leased
OperatingLeasesNumberOfAircraftLeased
43
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
262200000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
78300000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
187900000
us-gaap Operating Lease Payments
OperatingLeasePayments
40800000
us-gaap Sublease Income
SubleaseIncome
2829000
us-gaap Sublease Income
SubleaseIncome
3131000
CY2021Q2 us-gaap Lease Cost
LeaseCost
21648000
CY2020Q2 us-gaap Lease Cost
LeaseCost
23787000
us-gaap Lease Cost
LeaseCost
43662000
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:1.32%;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:23.85%;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:1.32%;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:23.85%;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 June 30, 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="3" style="vertical-align:bottom;white-space:nowrap;width:28.39%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="-sec-ix-hidden:Hidden_PvektOLjjEWOdfGVLoXpOA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:center;">6.3</span></span> years</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 colspan="3" style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:28.39%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.1%</p></td></tr></table>
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
22085000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
24140000
us-gaap Operating Lease Cost
OperatingLeaseCost
44211000
us-gaap Operating Lease Cost
OperatingLeaseCost
49158000
CY2021Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1056000
CY2020Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1207000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2280000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2551000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
1493000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
1560000
us-gaap Lease Cost
LeaseCost
48578000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45463000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79858000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
73192000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29954000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17354000
CY2021Q2 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
83918000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
329739000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
329739000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45463000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
79858000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
73192000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29954000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17354000
CY2021Q2 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
83918000
CY2021Q2 us-gaap Purchase Obligation
PurchaseObligation
791308000
CY2021Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
482500000
CY2021Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
276398000
CY2021Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
32410000
CY2021Q2 skyw Interest Commitment
InterestCommitment
493412000
CY2021Q2 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
58414000
CY2021Q2 skyw Interest Commitment Due In Next Twelve Months
InterestCommitmentDueInNextTwelveMonths
106040000
CY2021Q2 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
88289000
CY2021Q2 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
72111000
CY2021Q2 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
57377000
CY2021Q2 skyw Interest Commitment Due After Year Four
InterestCommitmentDueAfterYearFour
111181000
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3045633000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
180380000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
407082000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
417575000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
371850000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
386779000
CY2021Q2 skyw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1281967000
CY2021Q2 us-gaap Contractual Obligation
ContractualObligation
4660092000
CY2021Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
766757000
CY2021Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
869378000
CY2021Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
611466000
CY2021Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
473915000
CY2021Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
461510000
CY2021Q2 skyw Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1477066000
CY2021Q2 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
364429000
CY2020Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
406005000
CY2021Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3461000
CY2020Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3847000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
360968000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
3203696000
CY2021Q2 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
61200000
CY2021Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
75000000
CY2021Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2021Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
41000000.0
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 Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.268
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
skyw Offset Discrete Tax Benefit
OffsetDiscreteTaxBenefit
1400000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3236002000
CY2021Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32403000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32306000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
3013230000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
402158000
CY2021Q2 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2681204000
CY2020Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2829997000
CY2021Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
28942000
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
28459000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2652262000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2801538000
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3045633000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.255
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210

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