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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income (loss) $ 170,577 $ (33,668)
Adjustments to reconcile net income to net cash provided by operations:    
Losses reclassified from other comprehensive income (148) (159)
Share-based compensation 6,413 5,381
Allowance for doubtful accounts (recoveries) 0 (12)
Amortization of deferred gains and losses and debt issuance costs 4,365 4,552
Depreciation and amortization 105,639 84,991
Deferred income tax expense (benefit) 44,511 (17,604)
Loss on disposal of assets 3,463 5,492
Special charges, non-operating 0 88,613
Changes in operating assets and liabilities:    
Accounts receivable (30,465) (9,212)
Aircraft maintenance deposits, net (6,214) 11,222
Prepaid income taxes (1,962) 0
Long-term deposits and other assets 10,212 3,003
Deferred heavy maintenance, net (88,350) (94,267)
Income tax receivable 0 828
Accounts payable 2,024 25,413
Air traffic liability 111,009 93,936
Other liabilities 6,154 83,809
Other (424) 8
Net cash provided by operating activities 341,024 250,988
Investing activities:    
Purchase of available-for-sale investment securities (57,355) (73,687)
Proceeds from the maturity of available-for-sale investment securities 56,595 72,964
Proceeds from sale of property and equipment 0 9,500
Pre-delivery deposits on flight equipment, net of refunds (75,826) (92,205)
Capitalized interest (4,936) (4,178)
Assets under construction for others (2,235) 0
Purchase of property and equipment (154,702) (323,229)
Net cash used in investing activities (238,459) (410,835)
Financing activities:    
Proceeds from issuance of long-term debt 94,706 440,340
Proceeds from stock options exercised 1 2
Payments on debt obligations (85,785) (60,649)
Payments on finance lease obligations (1,796) (205,403)
Reimbursement for assets under construction for others 2,235 0
Repurchase of common stock (5,248) (986)
Debt issuance costs (614) (1,944)
Net cash provided by financing activities 3,499 171,360
Net increase in cash and cash equivalents 106,064 11,513
Cash and cash equivalents at beginning of period 1,004,733 800,849
Cash and cash equivalents at end of period 1,110,797 812,362
Cash payments for:    
Interest, net of capitalized interest 41,279 16,769
Income taxes paid, net of refunds 7,394 3,270
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows for operating leases 95,643 0
Operating cash flows for finance leases 1,457 0
Financing cash flows for finance leases 339 0
Non-cash transactions:    
Capital expenditures funded by finance lease borrowings 96,371 315
Capital expenditures funded by operating lease borrowings $ 159,548 $ 0