XML 38 R23.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Nature of operations and significant accounting policies summary |
Schedule of details of aircraft and agreements with other airlines | As of December 31, 2016, the Company had 652 aircraft in scheduled service out of a combined fleet of 685 aircraft consisting of the following:
|  | CRJ200 |  | CRJ700 |  | CRJ900 |  | ERJ135 |  | ERJ145 |  | E175 |  | EMB120 |  | Total |
United |  | 75 |  | 35 |  | — |  | 5 |  | 140 |  | 58 |  | — |  | 313 |
Delta |  | 109 |  | 62 |  | 64 |  | — |  | — |  | 13 |  | — |  | 248 |
American |  | 29 |  | 33 |  | — |  | — |  | 14 |  | — |  | — |  | 76 |
Alaska |  | — |  | — |  | — |  | — |  | — |  | 15 |  | — |  | 15 |
Aircraft in scheduled service |  | 213 |  | 130 |  | 64 |  | 5 |  | 154 |  | 86 |  | — |  | 652 |
Subleased to an un-affiliated entity |  | 2 |  | — |  | — |  | — |  | — |  | — |  | — |  | 2 |
Other* |  | — |  | 9 |  | — |  | 4 |  | 4 |  | — |  | 14 |  | 31 |
Total Fleet |  | 215 |  | 139 |  | 64 |  | 9 |  | 158 |  | 86 |  | 14 |  | 685 |
*Other aircraft consisted of leased aircraft removed from service that were in the process of being returned to the lessor and owned aircraft removed from service that are in the process of being sold.
Schedule of the Company's position in marketable securities | The Company’s position in marketable securities as of December 31, 2016 and 2015 was as follows (in thousands):
|  |  |  |  | Gross unrealized |  | Gross unrealized |  |  |  |
At December 31, 2016 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents |  | $ | 146,766 |  | $ | — |  | $ | — |  | $ | 146,766 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Bond and bond funds |  | $ | 410,001 |  | $ | — |  | $ | (116) |  | $ | 409,885 |
Asset backed securities |  |  | 13 |  |  | — |  |  | — |  |  | 13 |
Total available-for-sale securities |  | $ | 410,014 |  | $ | — |  | $ | (116) |  | $ | 409,898 |
Total cash and cash equivalents and available for sale securities |  | $ | 556,780 |  | $ | — |  | $ | (116) |  | $ | 556,664 |
|  |  |  |  | Gross unrealized |  |  | Gross unrealized |  |  |  |
At December 31, 2015 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents |  | $ | 203,035 |  | $ | — |  | $ | — |  | $ | 203,035 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Bond and bond funds |  | $ | 286,857 |  | $ | — |  | $ | (220) |  | $ | 286,637 |
Asset backed securities |  |  | 30 |  |  | 1 |  |  | — |  |  | 31 |
Total available-for-sale securities |  | $ | 286,887 |  | $ | 1 |  | $ | (220) |  | $ | 286,668 |
Total cash and cash equivalents and available for sale securities |  | $ | 489,922 |  | $ | 1 |  | $ | (220) |  | $ | 489,703 |
Schedule of maturities of marketable securities | Marketable securities had the following maturities as of December 31, 2016 (in thousands):
Maturities |  | Amount |
Year 2017 |  | $ | 293,928 |
Thereafter |  |  | 115,970 |
Schedule of property and equipment |
Assets |  | Depreciable Life |  | Residual Value
New Aircraft |  | 18 years |  | 30 | %
Used Aircraft, rotable spares, and spare engines |  | up to 18 years |  | 0 - 30 | %
Ground equipment |  | up to 10 years |  | 0 | %
Office equipment |  | up to 7 years |  | 0 | %
Leasehold improvements |  | Shorter of 15 years or lease term |  | 0 | %
Buildings |  | 20 – 39.5 years |  | 0 | %
Net income with per share data and comprehensive income |
Schedule of net income (loss) per common share |
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014 |
Numerator: |  |  |  |  |  |  |  |  |  |
Net Income (Loss) |  | $ | (161,586) |  | $ | 117,817 |  | $ | (24,154) |
Denominator: |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per-share weighted average shares |  |  | 51,505 |  |  | 51,077 |  |  | 51,237 |
Dilution due to stock options and restricted stock units |  |  | — |  |  | 748 |  |  | — |
Denominator for diluted earnings per-share weighted average shares |  |  | 51,505 |  |  | 51,825 |  |  | 51,237 |
Basic earnings (loss) per-share |  | $ | (3.14) |  | $ | 2.31 |  | $ | (0.47) |
Diluted earnings (loss) per-share |  | $ | (3.14) |  | $ | 2.27 |  | $ | (0.47) |
Delta Connection Agreements |
Nature of operations and significant accounting policies summary |
Schedule of details of aircraft and agreements with other airlines |
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
SkyWest Airlines Delta Connection Agreement (fixed-fee arrangement) |  | CRJ 200 CRJ 700 CRJ 900 E175 |  | 50 27 36 13 |  | Individual aircraft have scheduled removal dates under the agreement between 2017 and 2026 The average remaining term of the aircraft under contract is 3.7 years |
ExpressJet Delta Connection Agreement (fixed-fee arrangement) |  | CRJ 200 CRJ 700 CRJ 900 |  | 38 35 28 |  | Individual aircraft have scheduled removal dates under the agreement between 2017 and 2022 The average remaining term of the aircraft under contract is 2.8 years |
SkyWest Airlines Delta Connection Prorate Agreement (revenue-sharing arrangement) |  | CRJ 200 |  | 21 |  | Terminable with 30-day notice |
United Express Agreements |
Nature of operations and significant accounting policies summary |
Schedule of details of aircraft and agreements with other airlines |
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
SkyWest Airlines United Express Agreements (fixed-fee arrangement) |  | CRJ 200 CRJ 700 E175 |  | 53 35 58 |  | Individual aircraft have scheduled removal dates under the agreement between 2017 and 2027 The average remaining term of the aircraft under contract is 5.7 years |
ExpressJet United ERJ Agreement (fixed-fee arrangement) |  | ERJ 145 ERJ 135 |  | 140 5 |  | Individual aircraft have scheduled removal dates under the agreement during 2017, subject to two one-year extensions The average remaining term of the aircraft under contract is 0.9 years |
SkyWest Airlines United Express Prorate Agreement (revenue-sharing arrangement) |  | CRJ 200 |  | 22 |  | Terminable with 120-day notice |
American Agreements |
Nature of operations and significant accounting policies summary |
Schedule of details of aircraft and agreements with other airlines |
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
SkyWest Airlines American Agreement (fixed-fee arrangement) |  |  CRJ 200  CRJ 700 |  | 9 23 |  |  CRJ200 aircraft are scheduled to expire in 2017 and the CRJ700 aircraft are scheduled to expire in 2019 |
SkyWest Airlines American Prorate Agreement (revenue-sharing arrangement) |  |  CRJ 200 |  | 6 |  |  Terminable with 120-day notice |
ExpressJet American Agreement (fixed-fee arrangement) |  |  CRJ 200  CRJ 700  ERJ 145 |  | 11 10 14 |  |  CRJ200 aircraft are scheduled to expire in 2017 and the CRJ700 aircraft are scheduled to expire in 2020 |
ExpressJet American Prorate Agreement (revenue-sharing arrangement) |  |  CRJ 200 |  | 3 |  |  Terminable with 120-day notice |
Alaska Capacity Purchase Agreement |
Nature of operations and significant accounting policies summary |
Schedule of details of aircraft and agreements with other airlines |
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
SkyWest Airlines Alaska Agreement (fixed-fee arrangement) |  | E175 |  | 15 |  | Individual aircraft have scheduled removal dates under the agreement between 2027 and 2028 |

X
- Definition Nature of Operations and Summary of Significant Accounting Policies [Line Items] + References No definition available. + Details
Name: | skyw_NatureOfOperationsAndSummaryOfSignificantAccountingPoliciesLineItems
Namespace Prefix: | skyw_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of arrangements in which the entity has committed resources to supply goods or services to a customer. May include identification of the goods or services to be furnished, identity of the purchasing party, pricing, effects on pricing for failing to deliver the [minimum] quantities required to be furnished, cancellation rights, and termination provisions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(25)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_SupplyCommitmentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=skyw_DeltaConnectionAgreementsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=skyw_UnitedExpressAgreementsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=skyw_AmericanAgreementsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=skyw_AlaskaCapacityPurchaseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |