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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 420,606 $ 264,879 $ 317,220
Adjustments to reconcile net income to net cash provided by operations:      
Unrealized losses on open derivative contracts, net 0 0 2,202
Losses reclassified from other comprehensive income 335 354 132
Stock-based compensation 8,522 7,105 9,222
Allowance for doubtful accounts (recoveries) (53) 80 12
Amortization of deferred gains and losses and debt issuance costs 7,944 5,732 1,165
Depreciation and amortization 140,152 101,136 73,908
Deferred income tax expense (benefit) (1,610) 86,146 155,614
Loss on disposal of assets 4,168 4,187 1,604
Lease termination costs 12,629 37,189 0
Changes in operating assets and liabilities:      
Accounts receivable (8,134) (12,951) (5,592)
Aircraft maintenance deposits, net (37,930) (45,869) (32,101)
Long-term deposits and other assets (50,803) (45,558) (22,208)
Deferred heavy maintenance (78,237) (30,222) (9,127)
Income tax receivable (69,844) 0 0
Prepaid income taxes 0 72,278 (72,278)
Accounts payable 6,030 (6,823) 2,706
Air traffic liability 40,011 (11,582) 36,387
Other liabilities 31,074 47,391 14,119
Other 380 206 0
Net cash provided by operating activities 425,240 473,678 472,985
Investing activities:      
Purchase of available-for-sale investment securities (107,246) (103,258) 0
Proceeds from the maturity of available-for-sale investment securities 105,906 2,842 0
Proceeds from sale of property and equipment 0 50 0
Pre-delivery deposits for flight equipment, net of refunds (149,477) (173,947) (142,323)
Capitalized interest (12,305) (10,834) (10,159)
Purchase of property and equipment (628,881) (541,122) (548,800)
Net cash used in investing activities (792,003) (826,269) (701,282)
Financing activities:      
Proceeds from issuance of long-term debt 629,725 417,275 536,780
Proceeds from stock options exercised 45 92 32
Payments on debt and capital lease obligations (102,738) (64,421) (26,364)
Proceeds from sale leaseback transactions 0 0 7,300
Excess tax (deficiency) benefit from equity-based compensation 0 (470) 8,850
Repurchase of common stock (46,580) (102,510) (112,261)
Debt issuance costs (13,740) (107) (15,192)
Net cash provided by financing activities 466,712 249,859 399,145
Net (decrease) increase in cash and cash equivalents 99,949 (102,732) 170,848
Cash and cash equivalents at beginning of period 700,900 803,632 632,784
Cash and cash equivalents at end of period 800,849 700,900 803,632
Cash payments for:      
Interest, net of capitalized interest 37,902 39,963 7,061
Income taxes paid, net of refunds 5,826 (5,579) 95,933
Non-cash transactions:      
Capital expenditures funded by capital lease borrowings $ (1,370) $ (31) $ 0