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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 335,255 $ 155,749 $ 415,522
Adjustments to reconcile net income to net cash provided by operations:      
Losses reclassified from other comprehensive income 315 315 335
Share-based compensation 8,154 11,021 8,522
Allowance for doubtful accounts (recoveries) 0 (11) (53)
Amortization of deferred gains, losses and debt issuance costs 8,654 8,819 7,944
Depreciation and amortization 225,264 176,727 140,152
Deferred income tax expense (benefit) 115,689 46,303 (492)
Loss on disposal of assets 17,350 9,580 4,168
Lease termination costs 0 0 12,629
Special charges, non-operating 0 90,357 0
Changes in operating assets and liabilities:      
Accounts receivable, net (26,147) 1,674 (8,134)
Aircraft maintenance deposits, net 22,453 14,019 (37,930)
Other assets 14,999 (4,803) (50,951)
Deferred heavy maintenance, net (175,957) (190,381) (78,237)
Income tax receivable (21,013) 69,844 (69,844)
Prepaid income taxes 1,431 0 0
Accounts payable 569 15,317 6,030
Air traffic liability 23,429 28,270 43,527
Other liabilities (140,402) 74,038 31,672
Other (822) (375) 380
Net cash provided by operating activities 409,221 506,463 425,240
Investing activities:      
Purchase of available-for-sale investment securities (122,410) (124,430) (107,246)
Proceeds from the maturity and sale of available-for-sale investment securities 120,830 122,947 105,906
Proceeds from sale of property and equipment 0 11,400 0
Pre-delivery deposits on flight equipment, net of refunds (102,102) (177,424) (149,477)
Capitalized interest (10,774) (8,729) (12,305)
Assets under construction for others (7,936) (501) 0
Purchase of property and equipment (192,437) (606,971) (628,881)
Net cash used in investing activities (314,829) (783,708) (792,003)
Financing activities:      
Proceeds from issuance of long-term debt 225,891 832,099 629,725
Proceeds from stock options exercised 1 51 45
Payments on debt obligations (246,783) (137,275) (102,313)
Payments on finance lease obligations (96,547) (205,720) (425)
Reimbursement for assets under construction for others 5,618 501 0
Repurchase of common stock (5,439) (1,162) (46,580)
Debt issuance costs (2,909) (7,365) (13,740)
Net cash (used in) provided by financing activities (120,168) 481,129 466,712
Net increase (decrease) in cash and cash equivalents (25,776) 203,884 99,949
Cash and cash equivalents at beginning of period 1,004,733 800,849 700,900
Cash and cash equivalents at end of period 978,957 1,004,733 800,849
Cash payments for:      
Interest, net of capitalized interest 80,254 65,123 37,902
Income taxes paid (received), net 5,843 (73,489) 5,826
Operating cash flows for operating leases (1) 191,004    
Financing cash flows for finance leases (1) 674    
Non-cash transactions:      
Capital expenditures funded by finance lease borrowings 45,608 $ 987 $ 1,370
Capital expenditures funded by operating lease borrowings (1) $ 569,948