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Nature of Operations and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Nature of Operations and Summary of Significant Accounting Policies [Line Items]  
Schedule of the Company's position in marketable securities

The Company’s position in marketable securities as of December 31, 2017 and 2016 was as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross unrealized

 

Gross unrealized

 

 

 

 

At December 31, 2017

    

Amortized Cost

    

holding gains

    

holding losses

    

Fair market value

 

Total cash and cash equivalents

 

$

181,792

 

$

 —

 

$

 —

 

$

181,792

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Bond and bond funds

 

$

344,479

 

$

 —

 

$

(228)

 

$

344,251

 

Commercial Paper

 

 

159,252

 

 

 —

 

 

 —

 

 

159,252

 

Total marketable securities

 

$

503,731

 

$

 —

 

$

(228)

 

$

503,503

 

Total assets measured at fair value

 

$

685,523

 

$

 —

 

$

(228)

 

$

685,295

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross unrealized

 

 

Gross unrealized

 

 

 

 

At December 31, 2016

    

Amortized Cost

    

holding gains

    

holding losses

    

Fair market value

 

Total cash and cash equivalents

 

$

146,766

 

$

 

$

 

$

146,766

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Bond and bond funds

 

$

410,001

 

$

 —

 

$

(116)

 

$

409,885

 

Commercial Paper

 

 

13

 

 

 —

 

 

 —

 

 

13

 

Total marketable securities

 

$

410,014

 

$

 —

 

$

(116)

 

$

409,898

 

Total assets measured at fair value

 

$

556,780

 

$

 —

 

$

(116)

 

$

556,664

 

 

Schedule of property and equipment

Assets

 

Current Depreciable Life

 

Prior Policy Depreciable Life

 

Current Residual Value

 

Prior Policy Residual Value

New Aircraft

 

20 - 22 years

 

18 years

 

17.5 - 20

%

 

30

%

Used Aircraft, rotable spares, and spare engines

 

up to 18 years

 

up to 18 years

 

0 - 20

%

 

0 - 30

%

Ground equipment

 

up to 10 years

 

No Change

 

 0

%

 

No Change

Office equipment

 

up to 7 years

 

No Change

 

0

%

 

No Change

Leasehold improvements

 

Shorter of 15 years or lease term

 

No Change

 

0

%

 

No Change

Buildings

 

20 - 39.5 years

 

No Change

 

0

%

 

No Change

 

Schedule of net income (loss) per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2017

 

2016

 

2015

 

Numerator:

    

 

    

    

 

    

    

 

    

 

Net Income (Loss)

 

$

428,907

 

$

(161,586)

 

$

117,817

 

Denominator:

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per-share weighted average shares

 

 

51,804

 

 

51,505

 

 

51,077

 

Dilution due to stock options and restricted stock units

 

 

1,296

 

 

 —

 

 

748

 

Denominator for diluted earnings per-share weighted average shares

 

 

53,100

 

 

51,505

 

 

51,825

 

Basic earnings (loss) per-share

 

$

8.28

 

$

(3.14)

 

$

2.31

 

Diluted earnings (loss) per-share

 

$

8.08

 

$

(3.14)

 

$

2.27

 

 

Delta Connection Agreements  
Nature of Operations and Summary of Significant Accounting Policies [Line Items]  
Schedule of details of aircraft and agreements with other airlines

 

 

 

 

 

 

 

 

Agreement

    

Aircraft type

 

Number of Aircraft

    

Term / Termination
Dates

 

SkyWest Airlines

Delta Connection Agreement

(fixed-fee arrangement)

 

CRJ 200 

CRJ 700

CRJ 900

E175

 

70

27

36

19

 

Individual aircraft have scheduled removal dates under the agreement between 2018 and 2027

The average remaining term of the aircraft under contract is 2.9 years

 

ExpressJet

Delta Connection Agreement

(fixed-fee arrangement)

 

CRJ 700

CRJ 900

 

33

16

 

Individual aircraft have scheduled removal dates under the agreement during 2018

 

SkyWest Airlines 

Delta Connection Prorate Agreement (revenue-sharing arrangement)

 

CRJ 200

 

24

 

Terminable with 30-day notice

 

 

United Express Agreements  
Nature of Operations and Summary of Significant Accounting Policies [Line Items]  
Schedule of details of aircraft and agreements with other airlines

 

 

 

 

 

 

 

 

Agreement

    

Aircraft type

 

Number of Aircraft

    

Term / Termination
Dates

 

SkyWest Airlines

United Express Agreements

(fixed-fee arrangement)

 

CRJ 200

CRJ 700

E175

 

57

20

65

 

 

Individual aircraft have scheduled removal dates under the agreement between 2018 and 2029

The average remaining term of the aircraft under contract is 5.1 years

 

ExpressJet

United ERJ Agreement

(fixed-fee arrangement)

 

ERJ145

ERJ135

 

 

109

3

 

Agreement expires in 2022

The average remaining term of the aircraft under contract is 4.8 years

 

SkyWest Airlines

United Express Prorate Agreement (revenue-sharing arrangement)

 

CRJ 200

 

 

24

 

Terminable with 120-day notice

 

 

American Agreements  
Nature of Operations and Summary of Significant Accounting Policies [Line Items]  
Schedule of details of aircraft and agreements with other airlines

 

 

 

 

 

 

 

 

Agreement

    

Aircraft type

 

Number of Aircraft

    

Term / Termination Dates

 

SkyWest Airlines

American Agreement

(fixed-fee arrangement)

 

CRJ 200

  CRJ 700

 

 

10

37

 

 CRJ200 aircraft are scheduled to expire in 2018 and the CRJ700 aircraft are scheduled to expire in 2019

 

SkyWest Airlines

American Prorate Agreement

(revenue-sharing arrangement)

 

CRJ 200

 

6

 

 Terminable with 120-day notice

 

ExpressJet

American Agreement 

(fixed-fee arrangement)

 

CRJ 700

 

 12

 

 CRJ700 aircraft are scheduled to expire in 2019

 

 

Alaska Capacity Purchase Agreement  
Nature of Operations and Summary of Significant Accounting Policies [Line Items]  
Schedule of details of aircraft and agreements with other airlines

 

 

 

 

 

 

 

 

Agreement

    

Aircraft type

 

Number of Aircraft

    

Term / Termination
Dates

 

SkyWest Airlines

Alaska Agreement

(fixed-fee arrangement)

 

CRJ 200

E175

 

 

4

23

 

 CRJ200 aircraft are scheduled to expire in 2018

E175 aircraft have scheduled removal dates under the agreement between 2027 and 2029