XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of number of aircraft held by entity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | E175 |  | CRJ900 |  | CRJ700 |  | CRJ200 |  | Total
United |  | 90 | ​ | — | ​ | 19 | ​ | 111 | ​ | 220
Delta | ​ | 71 | ​ | 44 | ​ | 5 | ​ | 29 | ​ | 149
American |  | 18 | ** | — | ​ | 90 | ​ | — | ​ | 108
Alaska |  | 32 | ​ | — | ​ | — | ​ | — | ​ | 32
Aircraft in scheduled service or under contract | ​ | 211 | ​ | 44 | ​ | 114 | ​ | 140 | ​ | 509
Leased to third parties |  | — | ​ | 5 | ​ | 34 | ​ | — | ​ | 39
Other* |  | — | ​ | — | ​ | 18 | ​ | 63 | ​ | 81
Total Fleet |  | 211 | ​ | 49 | ​ | 166 | ​ | 203 | ​ | 629
*As of December 31, 2021, other aircraft included: supplemental spare aircraft supporting our code-share agreements which may be used in future code-share or leasing arrangements, aircraft transitioning between code-share agreements with our major airline partners, or aircraft that are scheduled to be disassembled for use as spare parts. **The Company took delivery of the 18 E175 aircraft under its contract with American as of December 31, 2021. The 18 E175 aircraft are scheduled to begin service in 2022.
Schedule of marketable securities |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross unrealized | ​ | Gross unrealized | ​ | ​ | ​ | ​
At December 31, 2021 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents | ​ | $ | 258,421 | ​ | $ | — | ​ | $ | — | ​ | $ | 258,421 | ​
Marketable securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bond and bond funds | ​ | $ | 54,673 | ​ | $ | — | ​ | $ | — | ​ | $ | 54,673 | ​
Commercial Paper | ​ |  | 547,316 | ​ |  | — | ​ |  | — | ​ |  | 547,316 | ​
Total marketable securities | ​ | $ | 601,989 | ​ | $ | — | ​ | $ | — | ​ | $ | 601,989 | ​
Total assets measured at fair value | ​ | $ | 860,410 | ​ | $ | — | ​ | $ | — | ​ | $ | 860,410 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross unrealized | ​ | ​ | Gross unrealized | ​ | ​ | ​ | ​
At December 31, 2020 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents | ​ | $ | 215,723 | ​ | $ | — | ​ | $ | — | ​ | $ | 215,723 | ​
Marketable securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bond and bond funds | ​ | $ | 117,928 | ​ | $ | — | ​ | $ | — | ​ | $ | 117,928 | ​
Commercial Paper | ​ |  | 492,257 | ​ |  | — | ​ |  | — | ​ |  | 492,257 | ​
Total marketable securities | ​ | $ | 610,185 | ​ | $ | — | ​ | $ | — | ​ | $ | 610,185 | ​
Total assets measured at fair value | ​ | $ | 825,908 | ​ | $ | — | ​ | $ | — | ​ | $ | 825,908 | ​
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 aircraft and agreements with major airline partners | United Express Agreements
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
United Express Agreements (capacity purchase agreement) | ​ | · E175 · CRJ 700 · CRJ 200 | ​ | 90 19 70 | ​ | · Individual aircraft have scheduled removal dates under the agreement between 2024 and 2029 · The average remaining term of the aircraft under contract is 4.2 years
United Express Prorate Agreement (prorate agreement) | ​ | · CRJ 200 | ​ | 41 | ​ | · Terminable with 120-day notice
Total under United Express Agreements | ​ | ​ | ​ | 220 | ​ | ​
​ Delta Connection Agreements
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
Delta Connection Agreement (capacity purchase agreement) | ​ | · E175 · CRJ 900 · CRJ 700 | ​ | 71 44 5 | ​ | · Individual aircraft have scheduled removal dates from 2022 to 2031 · The average remaining term of the aircraft under contract is 5.5 years
Delta Connection Prorate Agreement (prorate agreement) | ​ | · CRJ 200 | ​ | 29 | ​ | · Terminable with 30-day notice
Total under Delta Connection Agreements | ​ | ​ | ​ | 149 | ​ | ​
​ American Capacity Purchase Agreement
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
American Agreement (capacity purchase agreement) | ​ | · E175 · CRJ 700 | ​ | 18 90 | ​ | · Individual aircraft have scheduled removal dates from 2024 to 2032 · The average remaining term of the aircraft under contract is 4.8 years
Total under American Agreements | ​ | ​ | ​ | 108 | ​ | ​
​ Alaska Capacity Purchase Agreement
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
Alaska Agreement (capacity purchase agreement) | ​ | · E175 | ​ | 32 | ​ | · Individual aircraft have scheduled removal dates in 2030 · The average remaining term of the aircraft under contract is 8.6 years
Schedule of future minimum rental payments for operating leases | The following table summarizes future minimum rental payments primarily related to leased aircraft required under operating leases that had initial or remaining non-cancelable lease terms as of December 31, 2021 (in thousands): ​
​ | ​ | ​ | ​
2022 |  | $ | 81,911
2023 | ​ |  | 75,598
2024 | ​ |  | 31,446
2025 | ​ |  | 17,481
2026 | ​ |  | 15,427
Thereafter | ​ |  | 72,402
​ | ​ | $ | 294,265
Schedule of allowance for credit losses | The following table summarizes the changes in allowance for credit losses:
​ | ​ | ​ | ​
​ |  | Allowance for Credit Losses
Balance at January 1, 2020 | ​ | $ | 15,388
Adjustments to credit loss reserves | ​ | ​ | 30,837
Write-offs charged against allowance | ​ | ​ | —
Balance at December 31, 2020 | ​ | $ | 46,225
Adjustments to credit loss reserves | ​ |  | (4,249)
Write-offs charged against allowance | ​ |  | —
Balance at December 31, 2021 | ​ | $ | 41,976
Schedule of net income (loss) per common share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2021 | ​ | 2020 | ​ | 2019
Numerator: |  | ​ |  |  | ​ |  | ​ | ​ |
Net income (loss) | ​ | $ | 111,910 | ​ | $ | (8,515) | ​ | $ | 340,099
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share weighted average shares | ​ |  | 50,348 | ​ |  | 50,195 | ​ |  | 50,932
Dilution due to stock options and restricted stock units | ​ |  | 405 | ​ |  | — | ​ |  | 443
Diluted earnings per share weighted average shares | ​ |  | 50,753 | ​ |  | 50,195 | ​ |  | 51,375
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings (loss) per share | ​ | $ | 2.22 | ​ | $ | (0.17) | ​ | $ | 6.68
Diluted earnings (loss) per share | ​ | $ | 2.20 | ​ | $ | (0.17) | ​ | $ | 6.62
Flying agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of revenue by type | The following table represents the Company’s flying agreements revenue by type for the years ended December 31, 2021, 2020 and 2019 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2021 |  | 2020 | ​ | 2019
Capacity purchase agreements revenue: flight operations | ​ | $ | 1,146,375 | ​ | $ | 945,008 | ​ | $ | 1,538,062
Capacity purchase agreements revenue: aircraft lease and fixed revenue | ​ |  | 1,059,017 | ​ |  | 846,933 | ​ |  | 830,247
Prorate agreements revenue | ​ |  | 409,684 | ​ |  | 268,860 | ​ |  | 520,956
Flying agreements revenue | ​ | $ | 2,615,076 |  | $ | 2,060,801 | ​ | $ | 2,889,265
Airport customer service and other revenue |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of revenue by type |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2021 |  | 2020 | ​ | 2019
Operating lease revenue relating to lease payments | ​ | $ | 46,532 | ​ | $ | 34,791 | ​ | $ | 27,552
Operating lease revenue relating to variable lease payments | ​ | ​ | 19,998 | ​ | ​ | 5,710 | ​ | ​ | 9,608
Airport customer service and other revenue | ​ | ​ | 31,885 | ​ | ​ | 25,804 | ​ | ​ | 45,538
Lease, airport services and other | ​ | $ | 98,415 | ​ | $ | 66,305 | ​ | $ | 82,698
Aircraft |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of future minimum rental payments for operating leases |
​ | ​ | ​ | ​
2022 |  | $ | 45,777
2023 | ​ |  | 45,008
2024 | ​ |  | 42,593
2025 | ​ |  | 39,145
2026 | ​ |  | 34,516
Thereafter | ​ |  | 120,636
​ | ​ | $ | 327,675

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: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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://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: | dtr-types: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=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=123408670&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=120391452&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: | dtr-types: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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_SupplyCommitmentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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_AirportCustomerServiceAndOtherRevenueMember
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: |