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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
OPERATING REVENUES:        
Total operating revenues $ 766,171 $ 789,443 $ 2,183,645 $ 2,323,680
OPERATING EXPENSES:        
Salaries, wages and benefits 333,017 307,727 990,659 896,347
Aircraft maintenance, materials and repairs 178,465 183,182 483,182 506,478
Depreciation and amortization 96,560 97,433 287,878 297,427
Aircraft fuel 23,330 28,179 62,573 85,089
Airport-related expenses 18,398 17,501 53,648 54,196
Aircraft rentals 2,099 16,089 24,055 48,109
Other operating expenses 65,011 63,756 205,203 219,808
Total operating expenses 716,880 713,867 2,107,198 2,107,454
OPERATING INCOME 49,291 75,576 76,447 216,226
OTHER INCOME (EXPENSE):        
Interest income 11,234 6,348 31,761 9,332
Interest expense (32,543) (33,283) (99,881) (92,308)
Other income (loss), net (3,631) 8,112 7,544 21,011
Total other expense, net (24,940) (18,823) (60,576) (61,965)
INCOME BEFORE INCOME TAXES 24,351 56,753 15,871 154,261
PROVISION (BENEFIT) FOR INCOME TAXES 873 8,381 (955) 34,204
NET INCOME $ 23,478 $ 48,372 $ 16,826 $ 120,057
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.56 $ 0.96 $ 0.37 $ 2.38
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.55 $ 0.96 $ 0.37 $ 2.37
Weighted average common shares:        
Basic (in shares) 41,826 50,593 45,018 50,531
Diluted (in shares) 42,580 50,636 45,540 50,636
COMPREHENSIVE INCOME:        
Net income $ 23,478 $ 48,372 $ 16,826 $ 120,057
Net unrealized appreciation (depreciation) on marketable securities, net of taxes 624 (2,624) 3,618 (4,569)
TOTAL COMPREHENSIVE INCOME 24,102 45,748 20,444 115,488
Flying agreements        
OPERATING REVENUES:        
Total operating revenues 741,898 763,514 2,106,130 2,245,351
Lease, airport services and other        
OPERATING REVENUES:        
Total operating revenues $ 24,273 $ 25,929 $ 77,515 $ 78,329