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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended
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Sep. 30, 2022 | Sep. 30, 2021
CONSOLIDATED STATEMENTS OF CASH FLOWS |  |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 343,535 | $ 686,955
CASH FLOWS FROM INVESTING ACTIVITIES: |  |
Purchases of marketable securities | (1,758,125) | (1,071,637)
Sales of marketable securities | 1,390,198 | 1,041,149
Acquisition of property and equipment: |  |
Aircraft and rotable spare parts | (522,683) | (223,605)
Buildings and ground equipment | (11,365) | (10,473)
Proceeds from the sale of property and equipment | 8,494 | 7,104
Deposits on aircraft | (37,100) | (100,105)
Aircraft deposits applied towards acquired aircraft | 115,085 | 10,987
Increase in other assets | (49,073) | (50,205)
NET CASH USED IN INVESTING ACTIVITIES | (864,569) | (396,785)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |
Proceeds from issuance of long-term debt | 601,389 | 213,326
Principal payments on long-term debt | (299,785) | (448,466)
Net proceeds from issuance of common stock | 2,958 | 3,146
Employee income tax paid on vested equity awards | (1,150) | (1,573)
Payment of debt issuance cost | (1,949) | (495)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 301,463 | (234,062)
Increase (decrease) in cash and cash equivalents | (219,571) | 56,108
Cash and cash equivalents at beginning of period | 258,421 | 215,723
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 38,850 | 271,831
Non-cash investing and financing activities: |  |
Acquisition of property and equipment | 15,801 | 13,168
Warrants issued to U.S. Treasury |  | 5,804
Cash paid during the period for: |  |
Interest, net of capitalized amounts | 92,230 | 96,397
Income taxes | $ 356 | $ 6,374

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