$SKYW
SKYWEST INC

2021 Q4 Form 10-Q Financial Statement

#000155837021014591 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $777.2M $744.8M $457.5M
YoY Change 31.8% 62.8% -39.83%
Cost Of Revenue $291.0M $284.4M $382.9M
YoY Change 19.9% -25.72% -37.62%
Gross Profit $486.2M $460.3M $74.55M
YoY Change 40.11% 517.46% -49.09%
Gross Profit Margin 62.56% 61.81% 16.3%
Selling, General & Admin $267.8M $265.6M $194.5M
YoY Change 26.2% 36.56% -22.63%
% of Gross Profit 55.08% 57.7% 260.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $111.1M $109.6M $121.5M
YoY Change 0.92% -9.77% 30.9%
% of Gross Profit 22.85% 23.81% 162.93%
Operating Expenses $453.2M $697.7M $382.9M
YoY Change 19.9% 82.2% -5.17%
Operating Profit $32.95M $47.05M $74.55M
YoY Change -219.09% -36.89% -49.09%
Interest Expense -$27.97M $28.98M $30.15M
YoY Change -11.78% -3.88% -4.61%
% of Operating Profit -84.87% 61.59% 40.44%
Other Income/Expense, Net $53.00K -$32.84M -$28.34M
YoY Change 15.87% 2.31%
Pretax Income $5.039M $14.21M $46.21M
YoY Change -108.48% -69.25% -61.08%
Income Tax $707.0K $4.526M $12.55M
% Of Pretax Income 14.03% 31.85% 27.16%
Net Earnings $4.332M $9.684M $33.70M
YoY Change -109.32% -71.26% -63.09%
Net Earnings / Revenue 0.56% 1.3% 7.37%
Basic Earnings Per Share $0.19 $0.67
Diluted Earnings Per Share $85.22K $0.19 $0.66
COMMON SHARES
Basic Shares Outstanding 50.38M 50.38M 50.18M
Diluted Shares Outstanding 50.73M 50.62M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $860.4M $912.5M $822.0M
YoY Change 4.18% 11.01% 43.84%
Cash & Equivalents $258.4M $271.8M $418.2M
Short-Term Investments $602.0M $640.7M $403.8M
Other Short-Term Assets $38.74M $29.08M $26.46M
YoY Change 24.03% 9.9% 6.13%
Inventory $104.1M $98.76M $92.40M
Prepaid Expenses
Receivables $65.35M $56.32M $32.90M
Other Receivables $0.00 $0.00 $3.500M
Total Short-Term Assets $1.069B $1.097B $977.3M
YoY Change 8.73% 12.22% 20.59%
LONG-TERM ASSETS
Property, Plant & Equipment $5.499B $5.300B $5.200B
YoY Change 2.55% 1.92% -1.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.20M $19.70M $25.10M
YoY Change -20.78% -21.51%
Other Assets $320.2M $290.1M $277.1M
YoY Change 22.97% 4.68% 69.11%
Total Long-Term Assets $6.057B $5.844B $5.781B
YoY Change 2.58% 1.08% -0.1%
TOTAL ASSETS
Total Short-Term Assets $1.069B $1.097B $977.3M
Total Long-Term Assets $6.057B $5.844B $5.781B
Total Assets $7.126B $6.941B $6.759B
YoY Change 3.46% 2.69% 2.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $496.3M $427.9M $244.0M
YoY Change 78.1% 75.34% -25.79%
Accrued Expenses $258.3M $255.5M $230.5M
YoY Change 10.02% 10.83% -2.21%
Deferred Revenue $24.50M $70.50M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $391.8M $359.9M $360.3M
YoY Change -2.58% -0.11% -0.63%
Total Short-Term Liabilities $1.195B $1.138B $859.9M
YoY Change 26.85% 32.31% -10.57%
LONG-TERM LIABILITIES
Long-Term Debt $2.717B $2.605B $2.708B
YoY Change -3.0% -3.79% 3.26%
Other Long-Term Liabilities $124.9M $107.4M $145.0M
YoY Change -27.83% -25.98% 212.13%
Total Long-Term Liabilities $2.842B $2.712B $2.853B
YoY Change -4.45% -4.92% 6.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.195B $1.138B $859.9M
Total Long-Term Liabilities $2.842B $2.712B $2.853B
Total Liabilities $4.037B $3.850B $3.713B
YoY Change 3.08% 3.7% 2.27%
SHAREHOLDERS EQUITY
Retained Earnings $2.164B $2.160B $2.098B
YoY Change 5.45% 2.91% 4.26%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.268B $2.262B $2.185B
YoY Change
Total Liabilities & Shareholders Equity $7.126B $6.941B $6.759B
YoY Change 3.46% 2.69% 2.44%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $4.332M $9.684M $33.70M
YoY Change -109.32% -71.26% -63.09%
Depreciation, Depletion And Amortization $111.1M $109.6M $121.5M
YoY Change 0.92% -9.77% 30.9%
Cash From Operating Activities $144.9M $188.3M $56.40M
YoY Change 70.63% 233.81% -74.41%
INVESTING ACTIVITIES
Capital Expenditures -$347.2M -$203.8M -$9.900M
YoY Change 29.8% 1958.22% -89.96%
Acquisitions
YoY Change
Other Investing Activities $45.48M -$10.64M -$180.9M
YoY Change -129.42% -94.12% -525.65%
Cash From Investing Activities -$301.7M -$214.4M -$190.8M
YoY Change -28.52% 12.37% 238.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 143.5M -47.89M 100.4M
YoY Change 6.58% -147.7% -191.44%
NET CHANGE
Cash From Operating Activities 144.9M 188.3M 56.40M
Cash From Investing Activities -301.7M -214.4M -190.8M
Cash From Financing Activities 143.5M -47.89M 100.4M
Net Change In Cash -13.41M -74.02M -34.00M
YoY Change -93.38% 117.71% -162.62%
FREE CASH FLOW
Cash From Operating Activities $144.9M $188.3M $56.40M
Capital Expenditures -$347.2M -$203.8M -$9.900M
Free Cash Flow $492.1M $392.0M $66.30M
YoY Change 39.64% 491.3% -79.22%

Facts In Submission

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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9684000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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33662000
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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ComprehensiveIncomeNetOfTax
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CY2020Q4 us-gaap Stockholders Equity
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CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2021Q1 skyw Treasury Shares Withheld For Payment Of Tax
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CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
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CY2021Q1 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021Q2 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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29988000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q1 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
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CY2020Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2020Q1 us-gaap Dividends Common Stock Cash
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CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2020Q2 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
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CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2020Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
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CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2020Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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CY2020Q3 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
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CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
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CY2020Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
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CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
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us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
170392000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1612000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
100105000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
625000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
10987000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
9220000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
50205000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
121037000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
213326000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
201285000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
448466000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
117182000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3146000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2819000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000000
skyw Warrants Issued
WarrantsIssued
5804000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1573000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
6165000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
495000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3932000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
13059000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
43766000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
56108000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
331022000
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
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
271831000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
418228000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
13168000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
8531000
skyw Warrants Issued
WarrantsIssued
8248000
us-gaap Interest Paid Net
InterestPaidNet
96397000
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6374000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
371000
CY2020Q3 skyw Number Of Flights Operated
NumberOfFlightsOperated
137493
CY2021Q3 skyw Number Of Flights Operated
NumberOfFlightsOperated
210251
CY2021Q3 skyw Percentage Of Flights Increased
PercentageOfFlightsIncreased
0.529
CY2019Q3 skyw Number Of Flights Operated
NumberOfFlightsOperated
219272
CY2021Q3 skyw Liquid Assets
LiquidAssets
953500000
CY2021Q3 skyw Cash And Marketable Securities
CashAndMarketableSecurities
912500000
CY2021Q3 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
0.839
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.868
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.161
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.132
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
70500000
CY2021Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
47900000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
118400000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
110700000
us-gaap Number Of Aircraft Operated
NumberOfAircraftOperated
486
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
17746000
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
7136000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
49154000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
27162000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
11388000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
45428000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
44945000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
42530000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
39082000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
155089000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
338462000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5300000000
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
44600000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
46200000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1600000
skyw Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Replacement With Common Stock Shares Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingReplacementWithCommonStockSharesRatio
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5900000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2020Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
441000
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
230000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
78000
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
57.47
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9684000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33662000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
107578000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37935000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50380000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50181000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50337000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50199000
CY2021Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
345000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
389000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
246000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50725000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50622000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50726000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50445000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.76
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
744783000
CY2021Q3 us-gaap Operating Expenses
OperatingExpenses
697733000
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
109597000
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
84592000
CY2021Q3 us-gaap Interest Expense
InterestExpense
28980000
CY2021Q3 skyw Segment Profit
SegmentProfit
18070000
CY2021Q3 us-gaap Assets
Assets
6940502000
CY2021Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
163299000
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
457493000
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
382940000
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
121467000
CY2020Q3 us-gaap Interest Expense
InterestExpense
30150000
CY2020Q3 skyw Segment Profit
SegmentProfit
44403000
CY2020Q3 us-gaap Assets
Assets
6758594000
CY2020Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
4937000
us-gaap Sublease Income
SubleaseIncome
4718000
CY2021Q3 us-gaap Lease Cost
LeaseCost
22458000
CY2020Q3 us-gaap Lease Cost
LeaseCost
22901000
us-gaap Lease Cost
LeaseCost
66121000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1936328000
us-gaap Operating Expenses
OperatingExpenses
1693413000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
329089000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
84592000
us-gaap Interest Expense
InterestExpense
94274000
skyw Segment Profit
SegmentProfit
148641000
CY2021Q3 us-gaap Assets
Assets
6940502000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
247246000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1537469000
us-gaap Operating Expenses
OperatingExpenses
1400998000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
364813000
us-gaap Interest Expense
InterestExpense
91280000
skyw Segment Profit
SegmentProfit
45191000
CY2020Q3 us-gaap Assets
Assets
6758594000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
188321000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
248600000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
78200000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
171400000
us-gaap Operating Lease Payments
OperatingLeasePayments
63100000
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 September 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_iXew8sNO7k27HY1QXvEisA;"><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;">6.0%</p></td></tr></table>
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
23370000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
23538000
us-gaap Operating Lease Cost
OperatingLeaseCost
67582000
us-gaap Operating Lease Cost
OperatingLeaseCost
72696000
CY2021Q3 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
976000
CY2020Q3 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
950000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
3256000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
3501000
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
1888000
CY2020Q3 us-gaap Sublease Income
SubleaseIncome
1587000
us-gaap Sublease Income
SubleaseIncome
4717000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30426000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17824000
CY2021Q3 skyw Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1568375000
us-gaap Lease Cost
LeaseCost
71479000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
22346000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
80467000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
74119000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
30426000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17824000
CY2021Q3 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
84253000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
309435000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
309435000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
22346000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
80467000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
74119000
CY2021Q3 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
84253000
CY2021Q3 us-gaap Purchase Obligation
PurchaseObligation
1062834000
CY2021Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
327446000
CY2021Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
708909000
CY2021Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
26480000
CY2021Q3 skyw Interest Commitment
InterestCommitment
480115000
CY2021Q3 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
28177000
CY2021Q3 skyw Interest Commitment Due In Next Twelve Months
InterestCommitmentDueInNextTwelveMonths
106024000
CY2021Q3 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
90452000
CY2021Q3 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
74768000
CY2021Q3 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
59766000
CY2021Q3 skyw Interest Commitment Due After Year Four
InterestCommitmentDueAfterYearFour
120928000
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2996573000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
92341000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
378855000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
386035000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
380475000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
395673000
CY2021Q3 skyw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1363194000
CY2021Q3 us-gaap Contractual Obligation
ContractualObligation
4848958000
CY2021Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
470310000
CY2021Q3 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
1274255000
CY2021Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
577086000
CY2021Q3 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
485669000
CY2021Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
473263000
CY2021Q3 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
363379000
CY2020Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
406005000
CY2021Q3 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3491000
CY2020Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3847000
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
359888000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
402158000
CY2021Q3 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2633194000
CY2020Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2829997000
CY2021Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
28131000
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
28459000
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2605063000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2801538000
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2996573000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3236002000
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
31622000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
32306000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
2964951000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
3203696000
CY2021Q2 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
61200000
CY2021Q3 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
80100000
CY2021Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
75000000
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
0
CY2021Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
41000000.0
us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
1400000
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.319
CY2021Q3 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
0.261
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.272
CY2020Q3 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
0.271
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210

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