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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of 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, 2024 and December 31, 2023 were as follows:
September 30, 2024December 31, 2023Fair Value Level Hierarchy
 Carrying ValueEstimated Fair ValueCarrying ValueEstimated Fair Value
(in millions)
8.00% senior secured notes
$1,110.0 $1,125.0 $1,110.0 $1,121.9 Level 3
Fixed-rate term loans1,011.8 1,049.6 1,093.3 1,099.9 Level 3
Unsecured term loans136.3 136.9 136.3 128.3 Level 3
2015-1 EETC Class A 245.6 228.4 256.6 230.8 Level 2
2015-1 EETC Class B — — 40.0 39.4 Level 2
2017-1 EETC Class AA160.3 139.4 172.2 149.6 Level 2
2017-1 EETC Class A53.4 44.3 57.4 48.5 Level 2
2017-1 EETC Class B44.7 39.1 48.2 42.9 Level 2
4.75% convertible notes due 2025
25.1 16.4 25.1 42.3 Level 2
1.00% convertible notes due 2026
500.0 153.0 500.0 349.9 Level 2
Total long-term debt$3,287.2 $2,932.1 $3,439.1 $3,253.5 
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, 2024
 TotalLevel
1
Level
2
Level
3
(in millions)
Cash and cash equivalents$423.5 $423.5 $— $— 
Restricted cash170.1 170.1 — — 
Short-term investment securities117.1 117.1 — — 
Total assets$710.7 $710.7 $— $— 
Total liabilities$— $— $— $— 

 Fair Value Measurements as of December 31, 2023
 TotalLevel
1
Level
2
Level
3
(in millions)
Cash and cash equivalents$865.2 $865.2 $— $— 
Restricted cash119.4 119.4 — — 
Short-term investment securities112.5 112.5 — — 
Total assets$1,097.1 $1,097.1 $— $— 
Derivative liability$11.1 $— 11.1 $— 
Total liabilities$11.1 $— $11.1 $—