XML 93 R27.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 2 - Summary of Significant Accounting Policies Level 3 (Tables)
12 Months Ended
Dec. 31, 2014
Summary Of Significant Accounting Policies [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
Supplemental Statement of  Cash Flow Information:
 
Years ended December 31,
(amounts in millions)
2014
 
2013
 
2012
CASH PAID FOR INTEREST AND INCOME TAXES:
 
 
 
 
 
Interest paid-net of amount capitalized
$
110.1

 
$
108.2

 
$
116.1

Income taxes paid-net of refunds
0.8

 
2.1

 
0.1

NON-CASH INVESTING AND FINANCING TRANSACTIONS:
 
 
 

 
 

Inventory and other equipment sold for aircraft and other equipment manufacturer credits (1)

 
42.8

 

Other equipment acquired through manufacturer credits
23.1

 
11.6

 

Manufacturer credits applied to the purchase of aircraft
17.1

 
8.7

 

Engines received and not yet paid

 
5.8

 

Issuance of convertible debt

 

 
22.9

Chautauqua restructuring asset - Aircraft Manufacturer's Incentive

 
12.0

 
86.4


(1) During the first quarter of 2013, the Company entered into a flight hour pool program to minimize its upfront investment on high-value repairable inventories. Under the program, the Company sold certain parts for total non-cash proceeds of $42.8 million. The total proceeds were received in the form of credit notes that the Company intends to utilize on future aircraft purchases and were recorded as deposits within other assets on the consolidated balance sheet as of December 31, 2013. In addition, the Company recorded deferred credits of $4.0 million related to the sale that will be amortized over the term of the agreement.
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Net Income (Loss) per Common Share is based on the weighted average number of shares outstanding during the period.  The following is a reconciliation of the diluted net income (loss) per common share computations:
 
 
For the Years Ended December 31,
(in millions)
2014
 
2013
 
2012
Income from continuing operations
$
64.3

 
$
48.3

 
$
31.3

Income (loss) from discontinued operations, net of tax

 
(21.6
)
 
20.0

Net income
$
64.3

 
$
26.7

 
$
51.3

 
 
 
 
 
 
Reduction in interest expense from convertible notes (net of tax)
0.8

 
2.0

 
1.3

 
 
 
 
 
 
Net income after assumed conversion
$
65.1

 
$
28.7

 
$
52.6

 
 
 
 
 
 
Weighted-average common shares outstanding for basic net income per common share
49.8

 
49.2

 
48.5

Effect of dilutive employee stock options
0.4

 
0.7

 
0.2

Effect of dilutive convertible notes
2.2

 
4.7

 
2.7

Adjusted weighted-average common shares outstanding and assumed conversions for diluted net income per common share
52.4

 
54.6

 
51.4

 
 
 
 
 
 
Income (loss) per share - basic:
 
 
 
 
 
Income from continuing operations
$
1.29

 
$
0.98

 
$
0.65

Income (loss) from discontinued operations, net of tax

 
(0.44
)
 
0.41

Net income per share - basic
$
1.29

 
$
0.54

 
$
1.06

 
 
 
 
 
 
Income (loss) per share - diluted:
 
 
 
 
 
Income from continuing operations
$
1.24

 
$
0.92

 
$
0.63

Income (loss) from discontinued operations, net of tax

 
(0.40
)
 
0.39

Net income per share - diluted
$
1.24

 
$
0.52

 
$
1.02