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Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Nature of Operations and Summary of Significant Accounting Policies |
Schedule of details of aircraft and agreements with other airlines |
|  | CRJ200 |  | ERJ145 |  | ERJ135 |  | CRJ700 |  | CRJ900 |  | EMB120 |  | Total |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
United |  |  | 92 |  |  | 242 |  |  | 7 |  |  | 70 |  |  | — |  |  | 34 |  |  | 445 |
Delta |  |  | 147 |  |  | — |  |  | — |  |  | 60 |  |  | 46 |  |  | 8 |  |  | 261 |
US Airways |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15 |
American |  |  | 12 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |
Alaska |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Subleased to an un-affiliated entity |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Subleased to an affiliated entity |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Total |  |  | 268 |  |  | 242 |  |  | 7 |  |  | 135 |  |  | 50 |  |  | 42 |  |  | 744 |
Schedule of entity's position in marketable securities | The Company's position in marketable securities as of December 31, 2012 and 2011 was as follows (in thousands):
|  | 2012 |  | 2011 |
--- | --- | --- | --- | --- | ---
Investment Types |  | Cost |  | Market Value |  | Cost |  | Market Value |
Commercial paper |  | $ | 3,510 |  | $ | 3,514 |  | $ | 4,555 |  | $ | 4,557 |
Bond and bond funds |  |  | 555,603 |  |  | 556,133 |  |  | 496,170 |  |  | 496,310 |
Asset backed securities |  |  | 296 |  |  | 314 |  |  | 456 |  |  | 478 |
|  |  | 559,409 |  |  | 559,961 |  |  | 501,181 |  |  | 501,345 |
Unrealized appreciation |  |  | 552 |  |  | — |  |  | 164 |  |  | — |
Total |  | $ | 559,961 |  | $ | 559,961 |  | $ | 501,345 |  | $ | 501,345 |
Schedule of maturities of marketable securities | Marketable securities had the following maturities as of December 31, 2012 (in thousands):
Maturities |  | Amount |
--- | --- | --- | ---
Year 2013 |  | $ | 327,942 |
Years 2014 through 2017 |  |  | 160,116 |
Years 2018 through 2022 |  |  | 4,060 |
Thereafter |  |  | 67,843 |
Schedule of property and equipment |
Assets |  | Depreciable Life |  | Residual Value |
--- | --- | --- | --- | --- | ---
Aircraft and rotable spares |  | 10 - 18 years |  |  | 0 - 30 | %
Ground equipment |  | 5 - 10 years |  |  | 0 | %
Office equipment |  | 5 - 7 years |  |  | 0 | %
Leasehold improvements |  | 15 years or life of the lease |  |  | 0 | %
Buildings |  | 20 - 39.5 years |  |  | 0 | %
Schedule of net income (loss) per common share | The calculation of the weighted average number of common shares outstanding for Basic EPS and Diluted EPS are as follows for the years ended December 31, 2012, 2011and 2010 (in thousands):
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Numerator: |  |  |  |  |  |  |  |  |  |
Net Income (Loss) |  | $ | 51,157 |  | $ | (27,335 | ) | $ | 96,350 |
Denominator: |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per-share weighted average shares |  |  | 51,090 |  |  | 52,201 |  |  | 55,610 |
Dilution due to stock options and restricted stock |  |  | 656 |  |  | — |  |  | 916 |
Denominator for diluted earnings per-share weighted average shares |  |  | 51,746 |  |  | 52,201 |  |  | 56,526 |
Basic earnings (loss) per-share |  | $ | 1.00 |  | $ | (0.52 | ) | $ | 1.73 |
Diluted earnings (loss) per-share |  | $ | 0.99 |  | $ | (0.52 | ) | $ | 1.70 |
Schedule of comprehensive income (loss) | Comprehensive income (loss) includes charges and credits to stockholders' equity that are not the result of transactions with the Company's shareholders. Also, comprehensive income (loss) consisted of net income (loss) plus changes in unrealized appreciation (depreciation) on marketable securities and unrealized gain (loss) on foreign currency translation adjustment related to the Company's equity investment in Trip Linhas Aereas, a regional airline operating in Brazil ("Trip") and Mekong Aviation Joint Stock Company, an airline operating in Vietnam ("Air Mekong") (see note 8), net of tax, for the periods indicated (in thousands):
|  | Year Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Net Income (Loss) |  |  | 51,157 |  | $ | (27,335 | ) | $ | 96,350 |
Proportionate share of other companies foreign currency translation adjustment, net of tax |  |  | (251 | ) |  | (295 | ) |  | 637 |
Unrealized appreciation (depreciation) on marketable securities, net of tax |  |  | 316 |  |  | 534 |  |  | (745 | )
Comprehensive income (loss) |  | $ | 51,222 |  | $ | (27,096 | ) | $ | 96,242 |

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