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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income (loss) $ (428,700,000) $ 335,255,000 $ 155,749,000
Adjustments to reconcile net income (loss) to net cash provided by operations:      
Losses reclassified from other comprehensive income 252,000 315,000 315,000
Share-based compensation 11,575,000 8,154,000 11,021,000
Allowance for doubtful accounts (recoveries) (249,000) 0 (11,000)
Amortization of debt issuance costs 10,752,000 8,654,000 8,819,000
Depreciation and amortization 278,588,000 225,264,000 176,727,000
Accretion expense 10,138,000 0 0
Deferred income tax expense (benefit) (46,086,000) 115,689,000 46,303,000
Loss on disposal of assets 2,264,000 17,350,000 9,580,000
Special charges, non-operating 0 0 90,357,000
Changes in operating assets and liabilities:      
Accounts receivable, net 30,486,000 (26,147,000) 1,674,000
Aircraft maintenance deposits, net 23,732,000 22,453,000 14,019,000
Deposits and other assets (12,944,000) 14,999,000 (4,803,000)
Deferred heavy maintenance, net (75,230,000) (175,957,000) (190,381,000)
Income tax receivable (126,447,000) (21,013,000) 69,844,000
Prepaid income taxes (223,000) 1,431,000 0
Accounts payable (17,052,000) 569,000 15,317,000
Air traffic liability 86,558,000 23,429,000 28,270,000
Other liabilities 27,194,000 1,698,000 74,038,000
Other 118,000 (822,000) (375,000)
Net cash provided (used) by operating activities (225,274,000) 551,321,000 506,463,000
Investing activities:      
Purchase of available-for-sale investment securities (118,893,000) (122,410,000) (124,430,000)
Proceeds from the maturity and sale of available-for-sale investment securities 117,665,000 120,830,000 122,947,000
Proceeds from sale of property and equipment 0 0 11,400,000
Pre-delivery deposits on flight equipment, net of refunds (143,220,000) (102,102,000) (177,424,000)
Capitalized interest (12,233,000) (10,774,000) (8,729,000)
Assets under construction for others (3,944,000) (7,936,000) (501,000)
Purchase of property and equipment (393,375,000) (334,537,000) (606,971,000)
Net cash used in investing activities (554,000,000) (456,929,000) (783,708,000)
Financing activities:      
Proceeds from issuance of long-term debt 1,612,391,000 225,891,000 832,099,000
Proceeds from issuance of common stock and warrants 366,783,000 0 0
Proceeds from stock options exercised 39,000 1,000 51,000
Payments on debt obligations (254,304,000) (246,783,000) (137,275,000)
Payments on finance lease obligations (25,401,000) (96,547,000) (205,720,000)
Reimbursement for assets under construction for others 4,153,000 5,618,000 501,000
Repurchase of common stock (1,669,000) (5,439,000) (1,162,000)
Debt and equity issuance costs (40,551,000) (2,909,000) (7,365,000)
Net cash provided (used) by financing activities 1,661,441,000 (120,168,000) 481,129,000
Net increase (decrease) in cash, cash equivalents, and restricted cash 882,167,000 (25,776,000) 203,884,000
Cash and cash equivalents at beginning of period 978,957,000 [1] 1,004,733,000 [1] 800,849,000
Cash and cash equivalents at the end of period [1] 1,861,124,000 978,957,000 1,004,733,000
Cash payments for:      
Interest, net of capitalized interest 80,837,000 80,254,000 65,123,000
Income taxes paid (received), net (17,790,000) 5,843,000 (73,489,000)
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows for operating leases [2] 180,805,000 191,004,000  
Financing cash flows for finance leases [2] 194,000 674,000  
Non-cash transactions:      
Capital expenditures funded by finance lease borrowings 565,000 45,608,000 987,000
Capital expenditures funded by operating lease borrowings [2] $ 168,526,000 $ 569,948,000 $ 0
[1] The sum of cash and cash equivalents and restricted cash on our consolidated balance sheets equals cash, cash equivalents, and restricted cash in our statement of cash flows.
[2] The Company adopted ASU No. 2016-02, "Leases (Topic 842)," utilizing the modified retrospective adoption method with an effective date of January 1, 2019. Therefore, the consolidated financial statements for 2020 and 2019 are presented under the new standard, while 2018 is not adjusted and continues to be reported in accordance with the Company's historical accounting policy.