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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended
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Mar. 31, 2023 | Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |  |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 150,203 | $ 20,508
CASH FLOWS FROM INVESTING ACTIVITIES: |  |
Purchases of marketable securities | (289,116) | (595,325)
Sales of marketable securities | 373,492 | 586,864
Acquisition of property and equipment: |  |
Aircraft and rotable spare parts | (92,953) | (111,782)
Buildings and ground equipment | (10,319) | (2,236)
Proceeds from the sale of property and equipment | 2,162 | 2,749
Deposits on aircraft |  | (28,031)
Aircraft deposits applied towards acquired aircraft |  | 23,481
Decrease (increase) in other assets | 19,766 | (387)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 3,032 | (124,667)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |
Proceeds from issuance of long-term debt | 25,000 | 185,740
Principal payments on long-term debt | (107,276) | (93,979)
Payment of debt issuance cost | (108) | (413)
Net proceeds from issuance of common stock | 1,275 | 1,514
Employee income tax paid on vested equity awards | (585) | (1,123)
Purchase of treasury stock | (100,001) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (181,695) | 91,739
Decrease in cash and cash equivalents | (28,460) | (12,420)
Cash and cash equivalents at beginning of period | 102,984 | 258,421
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 74,524 | 246,001
Non-cash investing and financing activities: |  |
Acquisition of property and equipment | 4,649 | 13,567
Derecognition of right of use assets | (35,062) |
Derecognition of operating lease liabilities | 35,062 |
Cash paid during the period for: |  |
Interest, net of capitalized amounts | 33,838 | 29,840
Income taxes | $ 533 | $ 116

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