XML 32 R29.htm IDEA: XBRL DOCUMENT v2.4.1.9
Special Item (Tables)
12 Months Ended
Dec. 31, 2014
Special Items  
Summary of the components of special items

        The following table summarizes the components of the Company's special items, for the year ended December 31, 2014, 2013 and 2012 (in thousands):

                                                                                                                                                                                    

 

 

Year ended
December 31,

 

 

 

2014

 

2013

 

2012

 

Special items:

 

 

 

 

 

 

 

 

 

 

EMB120 aircraft related items(1)

 

$

57,046 

 

$

 

$

 

ERJ145 aircraft related items(2)

 

 

12,931 

 

 

 

 

 

Paint facility and related items(3)

 

 

4,800 

 

 

 

 

—  

 

​  

​  

​  

​  

​  

​  

Total Special items

 

$

74,777 

 

$

 

$

—  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

(1)

Consists primarily of impairment charges to write-down owned EMB120 aircraft, including capitalized engine overhaul costs, and related long-lived assets to their estimated fair value of $48.3 million and accrued obligations on leased aircraft and related costs of $8.8 million. The estimated fair value of the long-lived assets was based on third-party valuations for similar assets. In November 2014, the Company approved a plan to discontinue operating the EMB120 aircraft by the end of the second quarter of 2015. The decision to discontinue use of the EMB120 aircraft included management's assessment of the need for pilots to operate upcoming deliveries for the E175 aircraft, the incremental training cost to hire new pilots compared to retraining existing EMB120 pilots to operate CRJ or E175 aircraft, and the uncertainty related to the number of qualified pilots available for hire, combined with the overall age and increased operating costs of the Company's EMB120 fleet. These special items are reflected in the SkyWest Airlines operating expenses under Note 2 Segment Reporting.  

(2)

Consists primarily of impairment charges to write-down certain ERJ145 long-lived assets, which primarily consisted of spare engines and ERJ145 spare aircraft parts, to their estimated fair value of $11.4 million and accrued obligations on leased aircraft and related costs of $1.5 million. The estimated fair value of the long-lived assets was based on third-party valuations for similar assets. In November 2014, the Company entered into an amended and restated contract with United that accelerated the lease terminations of certain ERJ145 aircraft and accelerated the termination date of the Company's flying contract to operate the ERJ145s with United from the year 2020 to 2017. The reduced term shortened the anticipated useful life of the ERJ145 long-lived assets which triggered the impairment evaluation. These special items are reflected in the ExpressJet operating expenses under Note 2 Segment Reporting.  

(3)

Consists primarily of the write-down of assets associated with the disposition of the Company's paint facility located in Saltillo, Mexico, which was sold during the year ended December 31, 2014. These special items are reflected in the ExpressJet operating expenses under Note 2 Segment Reporting.