XML 17 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Statements Of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income $ 61,920 $ 69,002
Adjustments to reconcile net income to net cash provided by operations:    
Unrealized losses on open derivative contracts, net 0 3,783
Losses reclassified from other comprehensive income 90 0
Equity-based compensation 1,790 1,985
Allowance for doubtful accounts (recoveries) 25 31
Amortization of deferred gains and losses 1,968 164
Depreciation and amortization 23,109 14,863
Deferred income tax expense (benefit) 21,066 (5,560)
Loss on disposal of assets 214 595
Lease termination cost 16,202 0
Changes in operating assets and liabilities:    
Accounts receivable (4,229) (5,444)
Aircraft maintenance deposits (12,311) (12,317)
Prepaid Income Taxes 72,278 0
Long-term deposits and other assets (8,495) (6,160)
Accounts payable 4,703 433
Air traffic liability 46,473 79,350
Other liabilities 33,296 28,810
Net cash provided by operating activities 258,099 169,535
Investing activities:    
Pre-delivery deposits for flight equipment, net of refunds (50,358) (50,388)
Capitalized interest (2,575) (1,700)
Purchase of property and equipment (159,829) (184,609)
Net cash used in investing activities (212,762) (236,697)
Financing activities:    
Proceeds from issuance of long-term debt 73,914 185,000
Proceeds from stock options exercised 88 15
Payments on debt and capital lease obligations (9,749) (2,968)
Excess tax benefit (deficiency) from equity-based compensation (778) 7,877
Repurchase of common stock (9,601) (10,943)
Debt issuance costs (34) (2,976)
Net cash provided by financing activities 53,840 176,005
Net increase in cash and cash equivalents 99,177 108,843
Cash and cash equivalents at beginning of period 803,632 632,784
Cash and cash equivalents at end of period 902,809 741,627
Cash payments for:    
Interest, net of capitalized interest 3,430 11
Income taxes paid, net of refunds $ (64,158) $ 9,883