Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Carrying Amount and Estimated Fair Value, Long-term Debt

The carrying amounts and estimated fair values of the Company's long-term debt at September 30, 2022 and December 31, 2021 were as follows:

	September 30, 2022				December 31, 2021				Fair Value Level Hierarchy
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(in millions)
8.00% senior secured notes	$	510.0	$	470.5	$	510.0	$	530.4	Level 3
Fixed-rate term loans	1,127.3		1,003.1		1,223.5		1,262.6		Level 3
Unsecured term loans	136.3		108.8		136.3		146.4		Level 3
2015-1 EETC Class A	289.6		255.6		300.6		311.1		Level 2
2015-1 EETC Class B	52.0		49.3		56.0		56.4		Level 2
2015-1 EETC Class C	69.5		67.9		75.2		74.0		Level 2
2017-1 EETC Class AA	186.3		160.4		200.3		203.3		Level 2
2017-1 EETC Class A	62.1		51.8		66.8		65.8		Level 2
2017-1 EETC Class B	51.7		44.4		55.8		53.6		Level 2
2017-1 EETC Class C	85.5		84.2		85.5		84.1		Level 2
4.75% convertible notes due 2025	25.4		43.4		28.2		55.6		Level 2
1.00% convertible notes due 2026	500.0		420.1		500.0		432.5		Level 2
Total long-term debt	$	3,095.7	$	2,759.5	$	3,238.2	$	3,275.8

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at gross fair value on a recurring basis are summarized below:

	Fair Value Measurements as of September 30, 2022
	Total		Level 1		Level 2		Level 3
	(in millions)
Cash and cash equivalents	$	953.4	$	953.4	$	—	$	—
Restricted cash	95.4		95.4		—		—
Short-term investment securities	106.3		106.3		—		—
Assets held for sale	2.5		—		—		2.5
Total assets	$	1,157.6	$	1,155.1	$	—	$	2.5
Derivative liability	$	25.2	$	—	$	25.2	$	—
Total liabilities	$	25.2	$	—	$	25.2	$	—

	Fair Value Measurements as of December 31, 2021
	Total		Level 1		Level 2		Level 3
	(in millions)
Cash and cash equivalents	$	1,333.5	$	1,333.5	$	—	$	—
Restricted cash	95.4		95.4		—		—
Short-term investment securities	106.3		106.3		—		—
Assets held for sale	2.5		—		—		2.5
Total assets	$	1,537.7	$	1,535.2	$	—	$	2.5
Total liabilities	$	—	$	—	$	—	$	—