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Segment Reporting
 9 Months Ended
Sep. 30, 2012
Segment Reporting  
Segment Reporting

Note E — Segment Reporting

 

Generally accepted accounting principles require disclosures related to components of a company for which separate financial information is available to and regularly evaluated by the company’s chief operating decision maker (“CODM”) when deciding how to allocate resources and in assessing performance.

 

The Company’s two operating segments consist of the operations of its two operating subsidiaries, SkyWest Airlines and ExpressJet. On December 31, 2011, ExpressJet Delaware and Atlantic Southeast merged through the ExpressJet Combination. In conjunction with the ExpressJet Combination, ExpressJet became a reportable segment. Prior year amounts have been revised to conform to the current year segment presentation. Corporate overhead expense incurred by the Company is allocated to the operating expenses of its two operating subsidiaries. The following represents the Company’s segment data for the three months ended September 30, 2012 and 2011 (in thousands).

 

 

 

Three months ended September 30,2012

 

 

 

SkyWest
Airlines

 

ExpressJet

 

Other

 

Consolidated

 

Operating revenues

 

475,662

 

386,803

 

2,794

 

865,259

 

Operating expense

 

426,511

 

382,511

 

1,263

 

810,285

 

Depreciation and amortization expense

 

38,179

 

24,524

 

—

 

62,703

 

Interest expense

 

12,292

 

5,953

 

1,229

 

19,474

 

Segment profit (loss)(1)

 

36,859

 

(1,661

)

302

 

35,500

 

Identifiable intangible assets, other than goodwill

 

—

 

17,810

 

—

 

17,810

 

Total assets

 

2,639,895

 

1,608,956

 

—

 

4,248,851

 

Capital expenditures (including non-cash)

 

10,041

 

4,601

 

—

 

14,642

 

 

 

 

Three months ended September 30, 2011

 

 

 

SkyWest
Airlines

 

ExpressJet

 

Other

 

Consolidated

 

Operating revenues

 

524,286

 

428,265

 

2,874

 

955,425

 

Operating expense

 

489,959

 

437,292

 

1,347

 

928,598

 

Depreciation and amortization expense

 

36,945

 

26,448

 

—

 

63,393

 

Interest expense

 

12,688

 

6,322

 

1,076

 

20,086

 

Segment profit (loss) (1)

 

21,639

 

(15,349

)

451

 

6,741

 

Identifiable intangible assets, other than goodwill

 

—

 

20,060

 

—

 

20,060

 

Total assets

 

2,574,209

 

1,762,605

 

—

 

4,336,814

 

Capital expenditures (including non-cash)

 

51,440

 

6,487

 

—

 

57,927

 

 

 

(1)                                 Segment profit (loss) is operating income less interest expense

 

The following represents the Company’s segment data for the nine-months ended September 30, 2012 and 2011 (in thousands).

 

 

 

Nine months ended September 30, 2012

 

 

 

SkyWest
Airlines

 

ExpressJet

 

Other

 

Consolidated

 

Operating revenues

 

1,479,708

 

1,235,877

 

8,062

 

2,723,647

 

Operating expense

 

1,366,914

 

1,230,703

 

3,793

 

2,601,410

 

Depreciation and amortization expense

 

115,609

 

75,591

 

—

 

191,200

 

Interest expense

 

37,207

 

17,958

 

3,476

 

58,641

 

Segment profit (loss)(1)

 

75,587

 

(12,784

)

793

 

63,596

 

Identifiable intangible assets, other than goodwill

 

—

 

17,810

 

—

 

17,810

 

Total assets

 

2,639,895

 

1,608,956

 

—

 

4,248,851

 

Capital expenditures (including non-cash)

 

31,994

 

13,141

 

—

 

45,135

 

 

 

 

Nine months ended September 30, 2011

 

 

 

SkyWest
Airlines

 

ExpressJet

 

Other

 

Consolidated

 

Operating revenues

 

1,517,230

 

1,229,221

 

8,622

 

2,755,073

 

Operating expense

 

1,426,679

 

1,278,254

 

4,048

 

2,708,981

 

Depreciation and amortization expense

 

110,225

 

80,058

 

—

 

190,283

 

Interest expense

 

38,040

 

19,033

 

3,285

 

60,358

 

Segment profit (loss) (1)

 

52,511

 

(68,066

)

1,289

 

(14,266

)

Identifiable intangible assets, other than goodwill

 

—

 

20,060

 

—

 

20,060

 

Total assets

 

2,574,209

 

1,762,605

 

—

 

4,336,814

 

Capital expenditures (including non-cash)

 

73,057

 

20,225

 

—

 

93,282

 

 

 

(1)                                 Segment profit (loss) is operating income less interest expense