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Segment Reporting | 6 Months Ended
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Jun. 30, 2018
Segment Reporting |
Segment Reporting | Note 5 - Segment Reporting The Company’s three reporting segments consist of the operations of SkyWest Airlines, ExpressJet and SkyWest Leasing activities. Corporate overhead expenses incurred by the Company are allocated to the operating expenses of SkyWest Airlines and ExpressJet. The Company’s chief operating decision maker analyzes the profitability of operating the E175 aircraft (including operating costs and associated revenue) separately from the profitability of the Company’s ownership, financing costs and associated revenue of the Company’s E175 aircraft (including depreciation expense, interest expense and associated revenue). The SkyWest Leasing segment includes revenue attributed to the Company’s E175 aircraft ownership related revenues under the applicable fixed-fee contracts and the depreciation and interest expense of the Company’s E175 aircraft. The SkyWest Leasing segment’s total assets and capital expenditures include the acquired E175 aircraft. The SkyWest Leasing segment additionally includes the ownership and activity of four CRJ200 aircraft leased to a third party. The following represents the Company’s segment data for the three-month periods ended June 30, 2018 and 2017 (in thousands):
|  | Three months ended June 30, 2018 |
|  | SkyWest |  |  |  | SkyWest |  |  |
|  | Airlines |  | ExpressJet |  | Leasing |  | Consolidated |
Operating revenues (1) |  | $ | 587,480 |  | $ | 143,707 |  | $ | 74,328 |  | $ | 805,515 |
Operating expense |  |  | 494,143 |  |  | 148,525 |  |  | 36,169 |  |  | 678,837 |
Depreciation and amortization expense |  |  | 38,841 |  |  | 10,200 |  |  | 33,673 |  |  | 82,714 |
Interest expense |  |  | 4,202 |  |  | 788 |  |  | 23,821 |  |  | 28,811 |
Segment profit (loss) (2) |  |  | 89,135 |  |  | (5,606) |  |  | 14,338 |  |  | 97,867 |
Identifiable intangible assets, other than goodwill |  |  | — |  |  | 2,448 |  |  | — |  |  | 2,448 |
Total assets (as of June 30, 2018) |  |  | 2,222,784 |  |  | 563,198 |  |  | 3,127,111 |  |  | 5,913,093 |
Capital expenditures (including non-cash) |  |  | 40,039 |  |  | 1,588 |  |  | 323,090 |  |  | 364,717 |
|  | Three months ended June 30, 2017 |
|  | SkyWest |  |  |  | SkyWest |  |  |
|  | Airlines |  | ExpressJet |  | Leasing |  | Consolidated |
Operating revenues (1) (3) |  | $ | 519,708 |  | $ | 211,819 |  | $ | 59,985 |  | $ | 791,512 |
Operating expense (3) |  |  | 442,600 |  |  | 214,864 |  |  | 27,452 |  |  | 684,916 |
Depreciation and amortization expense |  |  | 32,530 |  |  | 11,710 |  |  | 26,966 |  |  | 71,206 |
Interest expense |  |  | 5,735 |  |  | 1,088 |  |  | 20,240 |  |  | 27,063 |
Segment profit (loss) (2) (3) |  |  | 71,373 |  |  | (4,133) |  |  | 12,293 |  |  | 79,533 |
Identifiable intangible assets, other than goodwill |  |  | — |  |  | 7,124 |  |  | — |  |  | 7,124 |
Total assets (as of June 30, 2017) (3) |  |  | 2,235,863 |  |  | 529,175 |  |  | 2,580,107 |  |  | 5,345,145 |
Capital expenditures (including non-cash) |  |  | 25,346 |  |  | 4,501 |  |  | 265,955 |  |  | 295,802 |
| (1) |  | Prorate revenue, Airport customer service and other revenues is primarily reflected in the SkyWest Airlines segment.
| (2) |  | Segment profit (loss) is equal to operating income less interest expense.
| (3) |  | Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.
The following represents the Company’s segment data for the six-month periods ended June 30, 2018 and 2017 (in thousands):
|  | Six months ended June 30, 2018 |
|  | SkyWest |  |  |  | SkyWest |  |  |
|  | Airlines |  | ExpressJet |  | Leasing |  | Consolidated |
Operating revenues (1) |  | $ | 1,143,775 |  | $ | 304,788 |  | $ | 140,352 |  | $ | 1,588,915 |
Operating expense |  |  | 993,019 |  |  | 315,349 |  |  | 65,694 |  |  | 1,374,062 |
Depreciation and amortization expense |  |  | 76,327 |  |  | 21,362 |  |  | 62,609 |  |  | 160,298 |
Interest expense |  |  | 8,678 |  |  | 1,615 |  |  | 44,752 |  |  | 55,045 |
Segment profit (loss) (2) |  |  | 142,078 |  |  | (12,176) |  |  | 29,906 |  |  | 159,808 |
Identifiable intangible assets, other than goodwill |  |  | — |  |  | 2,448 |  |  | — |  |  | 2,448 |
Total assets (as of June 30, 2018) |  |  | 2,222,784 |  |  | 563,198 |  |  | 3,127,111 |  |  | 5,913,093 |
Capital expenditures (including non-cash) |  |  | 76,322 |  |  | 2,926 |  |  | 553,257 |  |  | 632,505 |
|  | Six months ended June 30, 2017 |
|  | SkyWest |  |  |  | SkyWest |  |  |
|  | Airlines |  | ExpressJet |  | Leasing |  | Consolidated |
Operating revenues (1) (3) |  | $ | 984,624 |  | $ | 440,266 |  | $ | 113,788 |  | $ | 1,538,678 |
Operating expense (3) |  |  | 859,931 |  |  | 444,146 |  |  | 51,711 |  |  | 1,355,788 |
Depreciation and amortization expense |  |  | 64,347 |  |  | 26,235 |  |  | 50,738 |  |  | 141,320 |
Interest expense |  |  | 11,535 |  |  | 2,202 |  |  | 37,875 |  |  | 51,612 |
Segment profit (loss) (2) (3) |  |  | 113,158 |  |  | (6,082) |  |  | 24,202 |  |  | 131,278 |
Identifiable intangible assets, other than goodwill |  |  | — |  |  | 7,124 |  |  | — |  |  | 7,124 |
Total assets (as of June 30, 2017) (3) |  |  | 2,235,863 |  |  | 529,175 |  |  | 2,580,107 |  |  | 5,345,145 |
Capital expenditures (including non-cash) |  |  | 58,777 |  |  | 10,155 |  |  | 449,969 |  |  | 518,901 |
| (1) |  | Prorate revenue, Airport customer service and other revenues is primarily reflected in the SkyWest Airlines segment.
| (2) |  | Segment profit (loss) is equal to operating income less interest expense.
| (3) |  | Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements contained in Part I, Item 1 of this report for additional information.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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