XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
OPERATING REVENUES:        
Total operating revenues $ 744,783 $ 457,493 $ 1,936,328 $ 1,537,469
OPERATING EXPENSES:        
Salaries, wages and benefits 265,603 194,516 718,868 613,895
Aircraft maintenance, materials and repairs 209,795 150,148 604,501 431,654
Depreciation and amortization 109,597 121,467 329,089 364,813
Airport-related expenses 25,992 18,003 72,478 70,192
Aircraft fuel 32,561 13,641 77,622 45,875
Aircraft rentals 16,098 15,785 47,311 49,537
Special items - impairment charges 84,592   84,592  
Payroll support grant (115,352) (190,200) (422,669) (342,138)
Other operating expenses 68,847 59,580 181,621 167,170
Total operating expenses 697,733 382,940 1,693,413 1,400,998
OPERATING INCOME 47,050 74,553 242,915 136,471
OTHER INCOME (EXPENSE):        
Interest income 238 1,403 732 5,652
Interest expense (28,980) (30,150) (94,274) (91,280)
Other income (expense), net (4,098) 405 (3,802) 1,205
Total other expense, net (32,840) (28,342) (97,344) (84,423)
INCOME BEFORE INCOME TAXES 14,210 46,211 145,571 52,048
PROVISION FOR INCOME TAXES 4,526 12,549 37,993 14,113
NET INCOME $ 9,684 $ 33,662 $ 107,578 $ 37,935
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.19 $ 0.67 $ 2.14 $ 0.76
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.19 $ 0.66 $ 2.12 $ 0.75
Weighted average common shares:        
Basic (in shares) 50,380 50,181 50,337 50,199
Diluted (in shares) 50,725 50,622 50,726 50,445
COMPREHENSIVE INCOME:        
Net income $ 9,684 $ 33,662 $ 107,578 $ 37,935
Net unrealized depreciation on marketable securities, net of taxes   (307)    
TOTAL COMPREHENSIVE INCOME 9,684 33,355 107,578 37,935
Flying agreements        
OPERATING REVENUES:        
Total operating revenues 719,084 445,048 1,863,242 1,490,912
Lease, airport services and other        
OPERATING REVENUES:        
Total operating revenues $ 25,699 $ 12,445 $ 73,086 $ 46,557