$SKYW
SKYWEST INC

2023 Q4 Form 10-Q Financial Statement

#000155837023016945 Filed on October 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $751.8M $766.2M
YoY Change 10.35% -2.95%
Cost Of Revenue $234.1M $222.3M
YoY Change 13.82% -9.25%
Gross Profit $517.7M $543.9M
YoY Change 8.86% -0.11%
Gross Profit Margin 68.87% 70.99%
Selling, General & Admin $332.0M $333.0M
YoY Change 5.31% 8.21%
% of Gross Profit 64.12% 61.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $95.24M $96.56M
YoY Change -1.94% -0.9%
% of Gross Profit 18.4% 17.75%
Operating Expenses $490.1M $716.9M
YoY Change -4.03% 52.88%
Operating Profit $27.62M $49.29M
YoY Change -178.78% -34.78%
Interest Expense -$18.88M $32.54M
YoY Change -28.21% -220.82%
% of Operating Profit -68.36% 66.02%
Other Income/Expense, Net $15.70M -$24.94M
YoY Change -5131.41% -407.45%
Pretax Income $24.44M $24.35M
YoY Change -139.62% -57.09%
Income Tax $6.922M $873.0K
% Of Pretax Income 28.32% 3.59%
Net Earnings $17.52M $23.50M
YoY Change -137.19% -51.42%
Net Earnings / Revenue 2.33% 3.07%
Basic Earnings Per Share $0.56
Diluted Earnings Per Share $0.42 $0.55
COMMON SHARES
Basic Shares Outstanding 40.94M 42.06M
Diluted Shares Outstanding 42.58M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $835.2M $819.5M
YoY Change -20.24% -18.39%
Cash & Equivalents $835.2M $125.3M
Short-Term Investments $686.9M $694.2M
Other Short-Term Assets $296.7M $96.52M
YoY Change 195.69% -62.59%
Inventory $127.1M $127.1M
Prepaid Expenses
Receivables $82.85M $118.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.132B $1.162B
YoY Change -17.46% -7.94%
LONG-TERM ASSETS
Property, Plant & Equipment $5.483B $5.500B
YoY Change -0.31% -2.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $35.00M $25.00M
YoY Change 31.58% 1.21%
Other Assets $411.4M $398.7M
YoY Change 20.0% -27.93%
Total Long-Term Assets $5.894B $5.897B
YoY Change -2.46% -4.76%
TOTAL ASSETS
Total Short-Term Assets $1.132B $1.162B
Total Long-Term Assets $5.894B $5.897B
Total Assets $7.026B $7.059B
YoY Change -5.24% -5.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $470.3M $486.7M
YoY Change 11.43% 27.62%
Accrued Expenses $240.3M $233.5M
YoY Change -13.72% -23.55%
Deferred Revenue $61.00M $10.00M
YoY Change 1073.08% 488.24%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $443.9M $443.2M
YoY Change 1.22% 3.2%
Total Short-Term Liabilities $1.254B $1.206B
YoY Change 6.97% 3.95%
LONG-TERM LIABILITIES
Long-Term Debt $2.562B $2.634B
YoY Change -12.9% -11.68%
Other Long-Term Liabilities $1.096B $334.9M
YoY Change 519.65% -63.45%
Total Long-Term Liabilities $3.658B $2.969B
YoY Change 17.31% -23.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.254B $1.206B
Total Long-Term Liabilities $3.658B $2.969B
Total Liabilities $4.913B $4.174B
YoY Change 14.48% -17.48%
SHAREHOLDERS EQUITY
Retained Earnings $2.271B $2.254B
YoY Change 1.54% -1.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.114B $2.137B
YoY Change
Total Liabilities & Shareholders Equity $7.026B $7.059B
YoY Change -5.24% -5.3%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $17.52M $23.50M
YoY Change -137.19% -51.42%
Depreciation, Depletion And Amortization $95.24M $96.56M
YoY Change -1.94% -0.9%
Cash From Operating Activities $224.4M $178.9M
YoY Change 64.01% 39.49%
INVESTING ACTIVITIES
Capital Expenditures $95.23M $87.20M
YoY Change -14.55% -139.01%
Acquisitions
YoY Change
Other Investing Activities $11.00M $78.20M
YoY Change -84.54% -192.59%
Cash From Investing Activities -$84.23M -$9.000M
YoY Change 108.87% -97.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -117.2M -159.0M
YoY Change 261.97% -229.79%
NET CHANGE
Cash From Operating Activities 224.4M 178.9M
Cash From Investing Activities -84.23M -9.000M
Cash From Financing Activities -117.2M -159.0M
Net Change In Cash 22.99M 10.90M
YoY Change -64.15% -119.05%
FREE CASH FLOW
Cash From Operating Activities $224.4M $178.9M
Capital Expenditures $95.23M $87.20M
Free Cash Flow $129.2M $91.70M
YoY Change 408.73% -73.93%

Facts In Submission

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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
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
61003000
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
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23478000
CY2023Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1536000
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4321000
CY2023Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
50500000
CY2023Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
201000
CY2023Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
624000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2136698000
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
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48372000
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
115000
CY2022Q3 skyw Treasury Shares Withheld For Payment Of Tax
TreasurySharesWithheldForPaymentOfTax
27000
CY2022Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1329000
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3752000
CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
843000
CY2022Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-2624000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
2395948000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
511907000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
343535000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
982331000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1758125000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1236009000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1390198000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
151600000
us-gaap Payments For Flight Equipment
PaymentsForFlightEquipment
522683000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13978000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11365000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6574000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8494000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
55528000
skyw Payments For Deposits On Aircraft
PaymentsForDepositsOnAircraft
37100000
skyw Proceeds From Return Of Deposits On Aircraft
ProceedsFromReturnOfDepositsOnAircraft
115085000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-21857000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
49073000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-864569000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
25000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
601389000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
331183000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
299785000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
108000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1949000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2811000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2958000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
585000
skyw Treasury Shares Withheld For Payment Of Taxes
TreasurySharesWithheldForPaymentOfTaxes
1150000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
246499000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-550564000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
301463000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
22346000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-219571000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
125330000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38850000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
16614000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
15801000
skyw Derecognition Of Right Of Use Assets
DerecognitionOfRightOfUseAssets
39247000
skyw Derecognition Of Operating Lease Liabilities
DerecognitionOfOperatingLeaseLiabilities
39247000
us-gaap Interest Paid Net
InterestPaidNet
98196000
us-gaap Interest Paid Net
InterestPaidNet
92230000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9184000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
356000
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.872
skyw Percentage Of Available Seat Miles Flown Under Fixed Fee Arrangements
PercentageOfAvailableSeatMilesFlownUnderFixedFeeArrangements
0.880
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.128
skyw Percentage Of Available Seat Miles Flown Under Pro Rate Arrangements
PercentageOfAvailableSeatMilesFlownUnderProRateArrangements
0.120
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
111900000
skyw Increase Decrease In Unbilled Revenue
IncreaseDecreaseInUnbilledRevenue
8700000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25800000
skyw Increase Decrease In Unbilled Revenue
IncreaseDecreaseInUnbilledRevenue
14400000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
315900000
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10000000.0
CY2023Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
305900000
CY2023Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
11200000
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
CY2023Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
16091000
CY2022Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
15928000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
49442000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
48933000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
11405000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
45535000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
40565000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
34998000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
34977000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
86296000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
253776000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5500000000
CY2023Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
136300000
CY2023Q3 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
200000000.0
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
1789000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3570000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
32026000
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
12900000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11100000
CY2023Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000.0
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000.0
CY2023Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
135900000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
9600000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
244100000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
25.44
skyw Stock Repurchased During Period Excise Tax
StockRepurchasedDuringPeriodExciseTax
2400000
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
78000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1093000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
375000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
715000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
23478000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48372000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16826000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
120057000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41826000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50593000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45018000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50531000
CY2023Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
754000
CY2022Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
43000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
522000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
105000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42580000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50636000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45540000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50636000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.38
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.37
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
766171000
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
716880000
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
96560000
CY2023Q3 us-gaap Interest Expense
InterestExpense
32543000
CY2023Q3 skyw Segment Profit Loss
SegmentProfitLoss
16748000
CY2023Q3 us-gaap Assets
Assets
7059118000
CY2023Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
48252000
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
789443000
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
713867000
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
97433000
CY2022Q3 us-gaap Interest Expense
InterestExpense
33283000
CY2022Q3 skyw Segment Profit Loss
SegmentProfitLoss
42293000
CY2022Q3 us-gaap Assets
Assets
7454204000
CY2022Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
221086000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2183645000
us-gaap Operating Expenses
OperatingExpenses
2107198000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
287878000
us-gaap Interest Expense
InterestExpense
99881000
skyw Segment Profit Loss
SegmentProfitLoss
-23434000
CY2023Q3 us-gaap Assets
Assets
7059118000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
182192000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2323680000
us-gaap Operating Expenses
OperatingExpenses
2107454000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
297427000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19553000
us-gaap Interest Expense
InterestExpense
92308000
skyw Segment Profit Loss
SegmentProfitLoss
123918000
CY2022Q3 us-gaap Assets
Assets
7454204000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
549849000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
85700000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19200000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
66500000
us-gaap Operating Lease Payments
OperatingLeasePayments
26200000
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;">10 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>
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
7959000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
21697000
us-gaap Operating Lease Cost
OperatingLeaseCost
40764000
us-gaap Operating Lease Cost
OperatingLeaseCost
65360000
CY2023Q3 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
868000
CY2022Q3 skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
765000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2205000
skyw Variable And Short Term Lease Cost
VariableAndShortTermLeaseCost
2588000
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
1350000
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
1845000
us-gaap Sublease Income
SubleaseIncome
4051000
us-gaap Sublease Income
SubleaseIncome
5492000
CY2023Q3 us-gaap Lease Cost
LeaseCost
7477000
CY2022Q3 us-gaap Lease Cost
LeaseCost
20617000
us-gaap Lease Cost
LeaseCost
38918000
us-gaap Lease Cost
LeaseCost
62456000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5044000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16240000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13511000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12316000
CY2023Q3 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
54367000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
121031000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
121031000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5044000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19553000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16240000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13511000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12316000
CY2023Q3 skyw Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
54367000
CY2023Q3 us-gaap Purchase Obligation
PurchaseObligation
676802000
CY2023Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
66170000
CY2023Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
143513000
CY2023Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
230709000
CY2023Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
236410000
CY2023Q3 skyw Interest Commitment
InterestCommitment
489412000
CY2023Q3 skyw Interest Commitment Future Minimum Payments Remainder Of Fiscal Year
InterestCommitmentFutureMinimumPaymentsRemainderOfFiscalYear
29818000
CY2023Q3 skyw Interest Commitment Due In Next Twelve Months
InterestCommitmentDueInNextTwelveMonths
116197000
CY2023Q3 skyw Interest Commitment Due In Year Two
InterestCommitmentDueInYearTwo
96080000
CY2023Q3 skyw Interest Commitment Due In Year Three
InterestCommitmentDueInYearThree
76496000
CY2023Q3 skyw Interest Commitment Due In Year Four
InterestCommitmentDueInYearFour
54848000
CY2023Q3 skyw Interest Commitment Due After Year Four
InterestCommitmentDueAfterYearFour
115973000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3102315000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
116693000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
444128000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
529014000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
507787000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
461378000
CY2023Q3 skyw Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
1043315000
CY2023Q3 us-gaap Contractual Obligation
ContractualObligation
4389560000
CY2023Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
217725000
CY2023Q3 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
723391000
CY2023Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
872043000
CY2023Q3 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
834204000
CY2023Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
528542000
CY2023Q3 skyw Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
1213655000
CY2022 skyw Percentage Of Guaranteed Amount Received As Consideration
PercentageOfGuaranteedAmountReceivedAsConsideration
0.065
skyw Available For Sale Securities Maximum Period For Redemption
AvailableForSaleSecuritiesMaximumPeriodForRedemption
P1Y
CY2022 skyw Available For Sale Securities Maximum Period For Redemption
AvailableForSaleSecuritiesMaximumPeriodForRedemption
P1Y
CY2023Q3 skyw Marketable Securities At Cost
MarketableSecuritiesAtCost
694400000
CY2022Q4 skyw Marketable Securities At Cost
MarketableSecuritiesAtCost
949300000
CY2023Q3 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
446924000
CY2022Q4 skyw Debt Instrument Carrying Amount Current
DebtInstrumentCarryingAmountCurrent
442360000
CY2023Q3 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3738000
CY2022Q4 us-gaap Deferred Finance Costs Current Net
DeferredFinanceCostsCurrentNet
3858000
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
443186000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
438502000
CY2023Q3 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2655391000
CY2022Q4 skyw Debt Instrument Carrying Amount Noncurrent
DebtInstrumentCarryingAmountNoncurrent
2966951000
CY2023Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
21684000
CY2022Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
25179000
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2633707000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2941772000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3102315000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3409311000
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
25422000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
29037000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
3076893000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3380274000
CY2023Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.041
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.060
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
7600000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.222
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
7400000

Files In Submission

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skyw-20230930_cal.xml Edgar Link unprocessable
0001558370-23-016945-index-headers.html Edgar Link pending
0001558370-23-016945-index.html Edgar Link pending
0001558370-23-016945.txt Edgar Link pending
0001558370-23-016945-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
Show.js Edgar Link pending
skyw-20230930.xsd Edgar Link pending
skyw-20230930x10q.htm Edgar Link pending
skyw-20230930xex31d1.htm Edgar Link pending
skyw-20230930xex31d2.htm Edgar Link pending
skyw-20230930xex32d1.htm Edgar Link pending
skyw-20230930xex32d2.htm Edgar Link pending
skyw-20230930_def.xml Edgar Link unprocessable
skyw-20230930_pre.xml Edgar Link unprocessable
skyw-20230930_lab.xml Edgar Link unprocessable
skyw-20230930x10q_htm.xml Edgar Link completed