$SKYW
SKYWEST INC

2022 Q3 Form 10-Q Financial Statement

#000155837022012168 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $789.4M $799.1M $735.2M
YoY Change 6.0% 21.63% 37.53%
Cost Of Revenue $245.0M $240.2M $208.7M
YoY Change -13.88% -55.68% -54.0%
Gross Profit $544.5M $558.9M $526.4M
YoY Change 18.28% 385.87% 551.21%
Gross Profit Margin 68.97% 69.94% 71.61%
Selling, General & Admin $307.7M $288.6M $300.1M
YoY Change 15.86% 23.62% 36.51%
% of Gross Profit 56.52% 51.63% 57.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $97.43M $97.25M $102.7M
YoY Change -11.1% -11.51% -6.25%
% of Gross Profit 17.89% 17.4% 19.52%
Operating Expenses $468.9M $710.5M $683.1M
YoY Change -32.79% 31.09% 50.56%
Operating Profit $75.58M $88.60M $52.05M
YoY Change 60.63% -22.97% -35.62%
Interest Expense -$26.94M $30.43M $28.59M
YoY Change -192.94% -10.33% -8.81%
% of Operating Profit -35.64% 34.35% 54.93%
Other Income/Expense, Net $8.112M -$15.86M -$27.29M
YoY Change -124.7% -52.88% -11.56%
Pretax Income $56.75M $72.75M $24.76M
YoY Change 299.39% -10.6% -50.47%
Income Tax $8.381M $18.80M $7.027M
% Of Pretax Income 14.77% 25.84% 28.38%
Net Earnings $48.37M $53.95M $17.73M
YoY Change 399.5% -12.97% -50.6%
Net Earnings / Revenue 6.13% 6.75% 2.41%
Basic Earnings Per Share $0.96 $1.07 $0.35
Diluted Earnings Per Share $955.3K $1.07 $0.35
COMMON SHARES
Basic Shares Outstanding 50.59M 50.52M 50.48M
Diluted Shares Outstanding 50.64M 50.57M 50.71M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.004B $974.7M $856.5M
YoY Change 10.05% 1.99% 2.39%
Cash & Equivalents $1.004B $96.07M $246.0M
Short-Term Investments $965.3M $878.6M $610.5M
Other Short-Term Assets $258.0M $51.10M $37.44M
YoY Change 787.18% 140.32% 60.73%
Inventory $118.7M $115.1M $110.0M
Prepaid Expenses
Receivables $72.84M $75.96M $68.04M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.262B $1.217B $1.072B
YoY Change 15.09% 7.61% 7.33%
LONG-TERM ASSETS
Property, Plant & Equipment $5.639B $5.600B $5.500B
YoY Change 6.39% 5.66% 3.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.70M $24.30M $23.90M
YoY Change 25.38% -5.81% -7.0%
Other Assets $553.2M $327.6M $300.4M
YoY Change 90.71% 13.52% 6.34%
Total Long-Term Assets $6.192B $6.120B $6.077B
YoY Change 5.96% 4.42% 3.07%
TOTAL ASSETS
Total Short-Term Assets $1.262B $1.217B $1.072B
Total Long-Term Assets $6.192B $6.120B $6.077B
Total Assets $7.454B $7.337B $7.149B
YoY Change 7.4% 4.93% 3.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $381.4M $437.8M $412.8M
YoY Change -10.87% 46.06% 30.94%
Accrued Expenses $305.4M $290.3M $262.8M
YoY Change 19.56% 16.75% 13.33%
Deferred Revenue $1.700M $20.80M $33.00M
YoY Change -97.59% -65.62% 65.83%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $429.4M $425.0M $410.1M
YoY Change 19.32% 17.74% 14.73%
Total Short-Term Liabilities $1.160B $1.198B $1.142B
YoY Change 1.95% 8.03% 20.19%
LONG-TERM LIABILITIES
Long-Term Debt $2.982B $2.864B $2.791B
YoY Change 14.47% 8.0% 1.55%
Other Long-Term Liabilities $916.3M $114.3M $108.7M
YoY Change 753.45% -16.62% -37.68%
Total Long-Term Liabilities $3.898B $2.979B $2.900B
YoY Change 43.72% 6.79% -0.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.160B $1.198B $1.142B
Total Long-Term Liabilities $3.898B $2.979B $2.900B
Total Liabilities $5.058B $4.177B $4.042B
YoY Change 31.38% 7.14% 4.36%
SHAREHOLDERS EQUITY
Retained Earnings $2.284B $2.236B $2.182B
YoY Change 5.76% 3.99% 4.49%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.396B $2.345B $2.290B
YoY Change
Total Liabilities & Shareholders Equity $7.454B $7.337B $7.149B
YoY Change 7.4% 4.93% 3.69%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $48.37M $53.95M $17.73M
YoY Change 399.5% -12.97% -50.6%
Depreciation, Depletion And Amortization $97.43M $97.25M $102.7M
YoY Change -11.1% -11.51% -6.25%
Cash From Operating Activities $128.3M $194.8M $20.51M
YoY Change -31.88% -27.08% -91.14%
INVESTING ACTIVITIES
Capital Expenditures -$223.5M -$205.6M $2.236M
YoY Change 9.7% 196.57% -47.06%
Acquisitions
YoY Change
Other Investing Activities -$84.46M -$226.3M $387.0K
YoY Change 693.81% -2814.58% -99.42%
Cash From Investing Activities -$308.0M -$431.9M -$124.7M
YoY Change 43.64% 608.29% 2.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.514M
YoY Change -13.24%
Debt Paid & Issued, Net $93.98M
YoY Change -30.39%
Cash From Financing Activities 122.5M 87.22M 91.74M
YoY Change -355.82% -195.56% -196.67%
NET CHANGE
Cash From Operating Activities 128.3M 194.8M 20.51M
Cash From Investing Activities -308.0M -431.9M -124.7M
Cash From Financing Activities 122.5M 87.22M 91.74M
Net Change In Cash -57.22M -149.9M -12.42M
YoY Change -22.7% -230.57% -181.27%
FREE CASH FLOW
Cash From Operating Activities $128.3M $194.8M $20.51M
Capital Expenditures -$223.5M -$205.6M $2.236M
Free Cash Flow $351.8M $400.4M $18.27M
YoY Change -10.27% 19.01% -91.96%

Facts In Submission

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dei Entity Tax Identification Number
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dei Security12b Title
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50316000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50566000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50725000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50637000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50727000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
53951000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61994000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71685000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
97894000
CY2022Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-1945000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-1945000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
52006000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
61994000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
69740000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
97894000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
2267514000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17734000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
27000
CY2022Q1 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
1123000
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1487000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4076000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
2289715000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
53951000
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3310000
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
628000
CY2022Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-1945000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
2345031000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
2139545000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35900000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
606000
CY2021Q1 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
1573000
CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1139000
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2613000
CY2021Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
3291000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
2181521000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61994000
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2877000
CY2021Q2 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
2513000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
2248905000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
215279000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
498688000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1254213000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
798877000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
975649000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
799241000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
301004000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
37100000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2282000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
58269000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
70501000
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.117
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1745000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1123000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
7172000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
54608000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-556589000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-182381000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
376753000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
95430000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
196961000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
281778000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1514000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1573000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1223000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
178960000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-186176000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-162350000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
130131000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
258421000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
215723000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96071000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
345854000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
18234000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
11797000
skyw Warrants Issued
WarrantsIssued
5804000
us-gaap Interest Paid Net
InterestPaidNet
60197000
us-gaap Interest Paid Net
InterestPaidNet
66767000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
217000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
457000
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.883
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.850
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.150
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17600000
skyw Increase Decrease In Unbilled Revenue
IncreaseDecreaseInUnbilledRevenue
9300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
26800000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
86300000
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
20800000
CY2022Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
65500000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
103900000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24500000
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
79400000
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
16450000
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
16458000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33005000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
31408000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
23754000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
47084000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
45053000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
40083000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
34516000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
120636000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
311126000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5600000000
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
97000000.0
CY2022Q2 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
234400000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40400000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
42000000.0
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1600000
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
7400000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
53951000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61994000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71685000
CY2022Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
670037000
CY2022Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
559383000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
97894000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50522000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
850000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
78000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
526000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
39000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50346000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50501000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50316000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
44000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
379000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
136000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
411000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50566000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50725000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50637000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50727000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.95
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.93
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
799085000
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
710483000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
97249000
CY2022Q2 us-gaap Interest Expense
InterestExpense
30433000
CY2022Q2 skyw Segment Profit
SegmentProfit
58169000
CY2022Q2 us-gaap Assets
Assets
7336647000
CY2022Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
201178000
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
656990000
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
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
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1534237000
us-gaap Operating Expenses
OperatingExpenses
1393587000
skyw Segment Profit
SegmentProfit
81625000
CY2022Q2 us-gaap Assets
Assets
7336647000
CY2022Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
593544000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
328763000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1191545000
us-gaap Operating Expenses
OperatingExpenses
995680000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
21822000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
22085000
CY2022Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
529109000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
219492000
us-gaap Interest Expense
InterestExpense
65294000
skyw Segment Profit
SegmentProfit
130571000
us-gaap Sublease Income
SubleaseIncome
3648000
CY2022Q2 skyw Interest Commitment Due After Year Four
InterestCommitmentDueAfterYearFour
96159000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
432701000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3320191000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
500677000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
199994000
us-gaap Interest Expense
InterestExpense
59025000
CY2021Q2 us-gaap Assets
Assets
6991763000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
83947000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
207800000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
75600000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
134600000
us-gaap Operating Lease Payments
OperatingLeasePayments
35000000.0
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:74.24%;margin:0pt;padding:0pt;"><div style="height:1pt;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;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:25.75%;margin:0pt;padding:0pt;"><div style="height:1pt;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;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:74.24%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:25.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><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, 2022</b></p></td></tr><tr><td style="vertical-align:bottom;width:74.24%;background:#cceeff;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:25.75%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.3 years</p></td></tr><tr><td style="vertical-align:bottom;width:74.24%;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="vertical-align:bottom;white-space:nowrap;width:25.75%;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>
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
us-gaap Sublease Income
SubleaseIncome
2829000
CY2022Q2 us-gaap Lease Cost
LeaseCost
20782000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
219437000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
436307000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
455898000
CY2022Q2 skyw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1275171000
CY2021Q2 us-gaap Lease Cost
LeaseCost
21648000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
1845000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
1493000
us-gaap Operating Lease Cost
OperatingLeaseCost
43663000
us-gaap Operating Lease Cost
OperatingLeaseCost
44211000
CY2022Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
805000
CY2021Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1056000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1822000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2280000
us-gaap Lease Cost
LeaseCost
41837000
us-gaap Lease Cost
LeaseCost
43662000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45893000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
76189000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32796000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17570000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
15491000
CY2022Q2 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
72850000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
260789000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
260789000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
45893000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
76189000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32796000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17570000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
15491000
CY2022Q2 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
72850000
CY2022Q2 us-gaap Purchase Obligation
PurchaseObligation
471924000
CY2022Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
425905000
CY2022Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
46019000
CY2022Q2 skyw Interest Commitment
InterestCommitment
496915000
CY2022Q2 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
62331000
CY2022Q2 skyw Interest Commitment Due In Next Twelve Months
InterestCommitmentDueInNextTwelveMonths
111522000
CY2022Q2 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
93886000
CY2022Q2 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
75297000
CY2022Q2 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
57720000
CY2022Q2 skyw Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1444180000
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
4549819000
CY2022Q2 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
428798000
CY2021Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
395371000
CY2022Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3800000
CY2021Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3573000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
424998000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
391798000
CY2022Q2 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2891393000
CY2021Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2745567000
CY2022Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
26910000
CY2021Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
28147000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2864483000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2717420000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3320191000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3140938000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
30710000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
31720000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
3289481000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
3109218000
CY2022Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
100000000
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2022Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
68600000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.258
CY2022Q2 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
0.265
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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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