Leases, Commitments, Guarantees and Contingencies (Tables)

9 Months Ended

Sep. 30, 2023

Leases, Commitments, Guarantees and Contingencies

Summary of related terms and discount rates

Weighted-average remaining lease term for operating leases	10 years
Weighted-average discount rate for operating leases	6.1%

Summary of lease costs

	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Operating lease cost	$	7,959	$	21,697	$	40,764	$	65,360
Variable and short-term lease cost		868		765		2,205		2,588
Sublease income		(1,350)		(1,845)		(4,051)		(5,492)
Total lease cost	$	7,477	$	20,617	$	38,918	$	62,456

Schedule of future minimum rental payments for operating leases

October 2023 through December 2023	$	5,044
2024		19,553
2025		16,240
2026		13,511
2027		12,316
Thereafter		54,367
Total future minimum operating lease payments	$	121,031

Summary of commitments and obligations

The following table summarizes the Company’s commitments and obligations as noted for each of the next five years and thereafter (in thousands):

	Total		Oct - Dec 2023		2024		2025		2026		2027		Thereafter
Operating lease payments for aircraft and facility obligations	$	121,031	$	5,044	$	19,553	$	16,240	$	13,511	$	12,316	$	54,367
Firm aircraft and spare engine commitments		676,802		66,170		143,513		230,709		236,410		—		—
Interest commitments (1)		489,412		29,818		116,197		96,080		76,496		54,848		115,973
Principal maturities on long-term debt		3,102,315		116,693		444,128		529,014		507,787		461,378		1,043,315
Total commitments and obligations	$	4,389,560	$	217,725	$	723,391	$	872,043	$	834,204	$	528,542	$	1,213,655

(1) At September 30, 2023, the Company’s long-term debt had fixed interest rates.