XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of number of aircraft held by entity |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | CRJ200 |  | CRJ700 |  | CRJ900 |  | E175 |  | Total |
Delta |  | 84 | ​ | 13 | ​ | 43 | ​ | 59 | ​ | 199 | ​
United |  | 99 | ​ | 19 | ​ | — | ​ | 65 | ​ | 183 | ​
American |  | 7 | ​ | 62 | ​ | — | ​ | — | ​ | 69 | ​
Alaska |  | — | ​ | — | ​ | — | ​ | 32 | ​ | 32 | ​
Aircraft in scheduled service | ​ | 190 | ​ | 94 | ​ | 43 | ​ | 156 | ​ | 483 | ​
Subleased to an un-affiliated entity |  | 4 | ​ | 10 | ​ | 5 | ​ | — | ​ | 19 | ​
Other* |  | 20 | ​ | 22 | ​ | — | ​ | — | ​ | 42 | ​
Total Fleet |  | 214 | ​ | 126 | ​ | 48 | ​ | 156 | ​ | 544 | ​
*As of December 31, 2019, these aircraft have been removed from service and are in the process of being placed under a leasing arrangement with a third party, are aircraft transitioning between code-share agreements with the Company’s major airline partners and being used as a supplemental spare aircraft, or are in the process of being parted out.
Schedule of marketable securities | At December 31, 2019, the fair market value of the available-for-sale securities was the amortized cost. The Company’s position in marketable securities as of December 31, 2019 and 2018 was as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross unrealized | ​ | Gross unrealized | ​ | ​ | ​ | ​
At December 31, 2019 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents | ​ | $ | 87,206 | ​ | $ | — | ​ | $ | — | ​ | $ | 87,206 | ​
Marketable securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bond and bond funds | ​ | $ | 267,243 | ​ | $ | — | ​ | $ | — | ​ | $ | 267,243 | ​
Commercial Paper | ​ |  | 165,723 | ​ |  | — | ​ |  | — | ​ |  | 165,723 | ​
Total marketable securities | ​ | $ | 432,966 | ​ | $ | — | ​ | $ | — | ​ | $ | 432,966 | ​
Total assets measured at fair value | ​ | $ | 520,172 | ​ | $ | — | ​ | $ | — | ​ | $ | 520,172 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross unrealized | ​ | Gross unrealized | ​ | ​ | ​ | ​
At December 31, 2018 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents | ​ | $ | 328,384 | ​ | $ | — | ​ | $ | — | ​ | $ | 328,384 | ​
Marketable securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bond and bond funds | ​ | $ | 229,825 | ​ | $ | — | ​ | $ | (42) | ​ | $ | 229,783 | ​
Commercial Paper | ​ |  | 131,163 | ​ |  | — | ​ |  | (1) | ​ |  | 131,162 | ​
Total marketable securities | ​ | $ | 360,988 | ​ | $ | — | ​ | $ | (43) | ​ | $ | 360,945 | ​
Total assets measured at fair value | ​ | $ | 689,372 | ​ | $ | — | ​ | $ | (43) | ​ | $ | 689,329 | ​
Schedule of property and equipment | ​
| ​ |  |  |  |  | ​
Assets | ​ | Depreciable Life | ​ | Current Residual Value | ​
Aircraft, rotable spares, and spare engines | ​ | up to 22 years |  | up to 20 | % | ​
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 | % | ​
Schedule of future minimum rental payments for operating leases | ​
​ | ​ | ​ | ​ | ​
2020 |  | $ | 94,806 |
2021 | ​ |  | 84,285 | ​
2022 | ​ |  | 73,960 | ​
2023 | ​ |  | 68,581 | ​
2024 | ​ |  | 27,282 | ​
Thereafter | ​ |  | 94,746 | ​
​ | ​ | $ | 443,660 | ​
Schedule of net income (loss) per common share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2019 | ​ | 2018 | ​ | 2017 |
Numerator: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Net Income | ​ | $ | 340,099 | ​ | $ | 280,372 | ​ | $ | 428,907 | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share weighted average shares | ​ |  | 50,932 | ​ |  | 51,914 | ​ |  | 51,804 | ​
Dilution due to stock options and restricted stock units | ​ |  | 443 | ​ |  | 957 | ​ |  | 1,296 | ​
Diluted earnings per share weighted average shares | ​ |  | 51,375 | ​ |  | 52,871 | ​ |  | 53,100 | ​
Basic earnings per share | ​ | $ | 6.68 | ​ | $ | 5.40 | ​ | $ | 8.28 | ​
Diluted earnings per share | ​ | $ | 6.62 | ​ | $ | 5.30 | ​ | $ | 8.08 | ​
Flying agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of revenue | The following table represents the Company’s flying agreements revenue by type for the years ended December 31, 2019, 2018 and 2017 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2019 |  | 2018 |  | 2017
Capacity purchase agreements revenue: flight operations | ​ | $ | 1,538,062 | ​ | $ | 1,856,253 | ​ | $ | 1,805,510
Capacity purchase agreements revenue: aircraft lease | ​ |  | 830,247 | ​ |  | 814,518 | ​ |  | 834,366
Prorate agreements revenue | ​ |  | 520,956 | ​ |  | 498,749 | ​ |  | 438,421
Flying agreements revenue | ​ | $ | 2,889,265 | ​ | $ | 3,169,520 | ​ | $ | 3,078,297
Airport customer service and other |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of revenue | The following table represents the Company’s airport customer service and other revenue for the years ended December 31, 2019, 2018 and 2017 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2019 |  | 2018 |  | 2017
Airport customer service revenue | ​ | $ | 45,538 | ​ | $ | 48,236 | ​ | $ | 41,002
Operating lease income relating to lease payments | ​ |  | 27,552 | ​ |  | 3,923 | ​ |  | 3,293
Operating lease income relating to variable lease payments | ​ |  | 9,608 | ​ |  | — | ​ |  | —
Airport customer service and other | ​ | $ | 82,698 | ​ | $ | 52,159 | ​ | $ | 44,295
Delta Connection Agreement |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines | Delta Connection Agreements
Agreement |  | Aircraft type | ​ | Number of Aircraft |  | Term / Termination Dates |
Delta Connection Agreement (fixed-fee arrangement) | ​ | ● CRJ 200 ● CRJ 700 ● CRJ 900 ● E175 | ​ | 55 13 43 59 | ​ | ● Individual aircraft have scheduled removal dates from 2020 to 2029 ● The average remaining term of the aircraft under contract is 4.1 years | ​
Delta Connection Prorate Agreement (revenue-sharing arrangement) | ​ | ● CRJ 200 | ​ | 29 | ​ | ● Terminable with 30-day notice | ​
United Express Agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines | United Express Agreements
|  |  | ​ |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Agreement |  | Aircraft type | ​ | Number of Aircraft |  | Term / Termination Dates |
United Express Agreements (fixed-fee arrangement) | ​ | ● CRJ 200 ● CRJ 700 ● E175 | ​ | 68 19 65 ​ | ​ | ● Individual aircraft have scheduled removal dates under the agreement between 2020 and 2029 ● The average remaining term of the aircraft under contract is 4.3 years | ​
United Express Prorate Agreement (revenue-sharing arrangement) | ​ | ● CRJ 200 ​ | ​ | 31 | ​ | ● Terminable with 120-day notice | ​
American Agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines | American Agreements
| ​ |  | ​ | ​ | ​ |  | ​
Agreement |  | Aircraft type | ​ | Number of Aircraft |  | Term / Termination Dates |
American Agreement (fixed-fee arrangement) | ​ | ● CRJ 700 ​ | ​ | 62 | ​ | ● Individual aircraft have scheduled removal dates from 2022 to 2025 ● The average remaining term of the aircraft under contract is 4.1 years | ​
American Prorate Agreement (revenue-sharing arrangement) | ​ | ● CRJ 200 | ​ | 7 | ​ | ● Terminable with 120-day notice | ​
Alaska Capacity Purchase Agreement |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines | Alaska Capacity Purchase Agreement
| ​ |  | ​ | ​ | ​ |  | ​
Agreement |  | Aircraft type | ​ | Number of Aircraft |  | Term / Termination Dates |
Alaska Agreement (fixed-fee arrangement) | ​ | ● E175 ​ | ​ | 32 | ​ | ● Individual aircraft have scheduled removal dates from 2027 to 2030 ● The average remaining term of the aircraft under contract is 9.2 years | ​
Aircraft |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of future minimum rental payments for operating leases | The following table summarizes future minimum rental income under operating leases primarily related to leased aircraft that had remaining non-cancelable lease terms as of December 31, 2019 (in thousands): ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
2020 |  | $ | 32,724 |
2021 | ​ |  | 31,344 | ​
2022 | ​ |  | 24,786 | ​
2023 | ​ |  | 18,530 | ​
2024 | ​ |  | 18,222 | ​
Thereafter | ​ |  | 54,932 | ​
​ | ​ | $ | 180,538 | ​

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 Represent number of aircraft held by entity. + References No definition available. + Details
Name: | skyw_ScheduleOfNumberOfAircraftHeldByEntityTableTextBlock
Namespace Prefix: | skyw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
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://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + 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://fasb.org/us-gaap/role/ref/legacyRef -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
- 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://fasb.org/us-gaap/role/ref/legacyRef -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: | srt_ProductOrServiceAxis=skyw_FlyingAgreementsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_ProductOrServiceAxis=skyw_AirportCustomerServiceAndOtherMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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: |

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