$SKYW
SKYWEST INC

2023 Q3 Form 10-Q Financial Statement

#000155837023013194 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $766.2M $725.6M
YoY Change -2.95% -9.19%
Cost Of Revenue $222.3M $200.2M
YoY Change -9.25% -16.68%
Gross Profit $543.9M $525.5M
YoY Change -0.11% -5.97%
Gross Profit Margin 70.99% 72.42%
Selling, General & Admin $333.0M $322.4M
YoY Change 8.21% 11.74%
% of Gross Profit 61.22% 61.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $96.56M $97.17M
YoY Change -0.9% -0.08%
% of Gross Profit 17.75% 18.49%
Operating Expenses $716.9M $493.6M
YoY Change 52.88% -30.52%
Operating Profit $49.29M $31.86M
YoY Change -34.78% -64.04%
Interest Expense $32.54M -$23.22M
YoY Change -220.82% -176.31%
% of Operating Profit 66.02% -72.89%
Other Income/Expense, Net -$24.94M $9.001M
YoY Change -407.45% -156.77%
Pretax Income $24.35M $17.64M
YoY Change -57.09% -75.76%
Income Tax $873.0K $2.218M
% Of Pretax Income 3.59% 12.58%
Net Earnings $23.50M $15.42M
YoY Change -51.42% -71.42%
Net Earnings / Revenue 3.07% 2.12%
Basic Earnings Per Share $0.56 $0.35
Diluted Earnings Per Share $0.55 $0.35
COMMON SHARES
Basic Shares Outstanding 42.06M 44.43M
Diluted Shares Outstanding 42.58M 44.22M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $819.5M $862.3M
YoY Change -18.39% -11.52%
Cash & Equivalents $125.3M $862.3M
Short-Term Investments $694.2M $747.9M
Other Short-Term Assets $96.52M $320.8M
YoY Change -62.59% 527.76%
Inventory $127.1M $123.6M
Prepaid Expenses
Receivables $118.8M $104.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.162B $1.183B
YoY Change -7.94% -2.77%
LONG-TERM ASSETS
Property, Plant & Equipment $5.500B $5.491B
YoY Change -2.46% -1.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $25.00M $24.90M
YoY Change 1.21% 2.47%
Other Assets $398.7M $441.5M
YoY Change -27.93% 34.75%
Total Long-Term Assets $5.897B $5.933B
YoY Change -4.76% -3.06%
TOTAL ASSETS
Total Short-Term Assets $1.162B $1.183B
Total Long-Term Assets $5.897B $5.933B
Total Assets $7.059B $7.116B
YoY Change -5.3% -3.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $486.7M $457.3M
YoY Change 27.62% 4.45%
Accrued Expenses $233.5M $230.6M
YoY Change -23.55% -20.56%
Deferred Revenue $10.00M $7.300M
YoY Change 488.24% -64.9%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $443.2M $442.2M
YoY Change 3.2% 4.04%
Total Short-Term Liabilities $1.206B $1.166B
YoY Change 3.95% -2.71%
LONG-TERM LIABILITIES
Long-Term Debt $2.634B $2.744B
YoY Change -11.68% -4.21%
Other Long-Term Liabilities $334.9M $1.049B
YoY Change -63.45% 817.3%
Total Long-Term Liabilities $2.969B $3.793B
YoY Change -23.85% 27.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.206B $1.166B
Total Long-Term Liabilities $2.969B $3.793B
Total Liabilities $4.174B $4.959B
YoY Change -17.48% 18.7%
SHAREHOLDERS EQUITY
Retained Earnings $2.254B $2.230B
YoY Change -1.33% -0.24%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.137B $2.157B
YoY Change
Total Liabilities & Shareholders Equity $7.059B $7.116B
YoY Change -5.3% -3.01%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $23.50M $15.42M
YoY Change -51.42% -71.42%
Depreciation, Depletion And Amortization $96.56M $97.17M
YoY Change -0.9% -0.08%
Cash From Operating Activities $178.9M $182.8M
YoY Change 39.49% -6.15%
INVESTING ACTIVITIES
Capital Expenditures $87.20M $30.60M
YoY Change -139.01% -114.88%
Acquisitions
YoY Change
Other Investing Activities $78.20M $97.60M
YoY Change -192.59% -143.12%
Cash From Investing Activities -$9.000M $67.00M
YoY Change -97.08% -115.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -159.0M -209.9M
YoY Change -229.79% -340.65%
NET CHANGE
Cash From Operating Activities 178.9M 182.8M
Cash From Investing Activities -9.000M 67.00M
Cash From Financing Activities -159.0M -209.9M
Net Change In Cash 10.90M 39.90M
YoY Change -119.05% -126.61%
FREE CASH FLOW
Cash From Operating Activities $178.9M $182.8M
Capital Expenditures $87.20M $30.60M
Free Cash Flow $91.70M $152.2M
YoY Change -73.93% -61.98%

Facts In Submission

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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22071000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
57000
CY2023Q1 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
585000
CY2023Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1218000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4329000
CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
100001000
CY2023Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
476000
CY2023Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
1480000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
2232058000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15419000
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4246000
CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
95998000
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
488000
CY2023Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
1514000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2157239000
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
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
333023000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
215279000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
533465000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1254213000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
732774000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
975649000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
122529000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
301004000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11338000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9525000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3815000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6275000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
37100000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
70501000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-734000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
7172000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
69991000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-556589000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
25000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
376753000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
221148000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
196961000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
108000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1223000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1275000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1514000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
585000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1123000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
195999000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-391565000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
178960000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
11449000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-162350000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102984000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
258421000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114433000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96071000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
73000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
18234000
skyw Derecognition Of Right Of Use Assets
DerecognitionOfRightOfUseAssets
35062000
skyw Derecognition Of Operating Lease Liabilities
DerecognitionOfOperatingLeaseLiabilities
35062000
us-gaap Interest Paid Net
InterestPaidNet
66131000
us-gaap Interest Paid Net
InterestPaidNet
60197000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2902000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
217000
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
16791000
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
16450000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33351000
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
0.883
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.117
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.117
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
77400000
skyw Increase Decrease In Unbilled Revenue
IncreaseDecreaseInUnbilledRevenue
6000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17600000
skyw Increase Decrease In Unbilled Revenue
IncreaseDecreaseInUnbilledRevenue
9300000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
262100000
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
7300000
CY2023Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
254800000
CY2023Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
13900000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
144700000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5200000
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
139500000
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
19900000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33005000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
22880000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
45553000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
40583000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
35017000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
34995000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
86297000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
265325000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5500000000
CY2023Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
123100000
CY2023Q2 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
201700000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3600000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
37385000
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-2086000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3570000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
35901000
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
8600000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7400000
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000.0
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000.0
CY2023Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
185900000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
8400000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
194100000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
23.10
skyw Stock Repurchased During Period Excise Tax
StockRepurchasedDuringPeriodExciseTax
1900000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
203000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
850000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1461000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
526000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15419000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
53951000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6652000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71685000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43837000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50522000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46614000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50501000
CY2023Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
382000
CY2022Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
44000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
136000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44219000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50566000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46614000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50637000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.42
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
725643000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
693783000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
97169000
CY2023Q2 us-gaap Interest Expense
InterestExpense
33718000
CY2023Q2 skyw Segment Profit Loss
SegmentProfitLoss
-1858000
CY2023Q2 us-gaap Assets
Assets
7115774000
CY2023Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
26019000
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 Loss
SegmentProfitLoss
58169000
CY2022Q2 us-gaap Assets
Assets
7336647000
CY2022Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
201178000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1417474000
us-gaap Operating Expenses
OperatingExpenses
1390318000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
191318000
us-gaap Interest Expense
InterestExpense
67338000
skyw Segment Profit Loss
SegmentProfitLoss
-40182000
CY2023Q2 us-gaap Assets
Assets
7115774000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
133940000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1534237000
us-gaap Operating Expenses
OperatingExpenses
1393587000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
199994000
us-gaap Interest Expense
InterestExpense
59025000
skyw Segment Profit Loss
SegmentProfitLoss
81625000
CY2022Q2 us-gaap Assets
Assets
7336647000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
328763000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
92800000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
18700000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
73900000
us-gaap Operating Lease Payments
OperatingLeasePayments
17900000
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%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></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;">9.7 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;">6.1%</p></td></tr></table>
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y8M12D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
7857000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
21822000
us-gaap Operating Lease Cost
OperatingLeaseCost
32805000
us-gaap Operating Lease Cost
OperatingLeaseCost
43663000
CY2023Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
534000
CY2022Q2 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
805000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1337000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
1822000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
1351000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
1845000
us-gaap Sublease Income
SubleaseIncome
2701000
us-gaap Sublease Income
SubleaseIncome
3648000
CY2023Q2 us-gaap Lease Cost
LeaseCost
7040000
CY2022Q2 us-gaap Lease Cost
LeaseCost
20782000
us-gaap Lease Cost
LeaseCost
31441000
us-gaap Lease Cost
LeaseCost
41837000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9846000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
22266000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17188000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13509000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12316000
CY2023Q2 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
54344000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
129469000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
129469000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9846000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
22266000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17188000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13509000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12316000
CY2023Q2 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
54344000
CY2023Q2 us-gaap Purchase Obligation
PurchaseObligation
127337000
CY2023Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
72670000
CY2023Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
26896000
CY2023Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
27771000
CY2023Q2 skyw Interest Commitment
InterestCommitment
515372000
CY2023Q2 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
64590000
CY2023Q2 skyw Interest Commitment Due In Next Twelve Months
InterestCommitmentDueInNextTwelveMonths
115322000
CY2023Q2 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
95225000
CY2023Q2 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
75663000
CY2023Q2 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
54039000
CY2023Q2 skyw Interest Commitment Due After Year Four
InterestCommitmentDueAfterYearFour
110533000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3212622000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
223985000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
444898000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
529506000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
507629000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
461083000
CY2023Q2 skyw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1045521000
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
3984800000
CY2023Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
371091000
CY2023Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
609382000
CY2023Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
669690000
CY2023Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
596801000
CY2023Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
527438000
CY2023Q2 skyw Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1210398000
skyw Available For Sale Securities Maximum Period For Redemption
AvailableForSaleSecuritiesMaximumPeriodForRedemption
P1Y
CY2022 skyw Available For Sale Securities Maximum Period For Redemption
AvailableForSaleSecuritiesMaximumPeriodForRedemption
P1Y
CY2023Q2 skyw Marketable Securities At Cost
MarketableSecuritiesAtCost
749000000.0
CY2022Q4 skyw Marketable Securities At Cost
MarketableSecuritiesAtCost
949300000
CY2023Q2 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
445946000
CY2022Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
442360000
CY2023Q2 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3791000
CY2022Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3858000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
442155000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
438502000
CY2023Q2 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2766676000
CY2022Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2966951000
CY2023Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
22872000
CY2022Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
25179000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2743804000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2941772000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3212622000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3409311000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
26663000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
29037000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
3185959000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3380274000
CY2023Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.041
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.216
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

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