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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended
--- | ---
Sep. 30, 2023 | Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |  |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 511,907 | $ 343,535
CASH FLOWS FROM INVESTING ACTIVITIES: |  |
Purchases of marketable securities | (982,331) | (1,758,125)
Sales of marketable securities | 1,236,009 | 1,390,198
Acquisition of property and equipment: |  |
Aircraft and rotable spare parts | (151,600) | (522,683)
Buildings and ground equipment | (13,978) | (11,365)
Proceeds from the sale of property and equipment | 6,574 | 8,494
Deposits on aircraft | (55,528) | (37,100)
Aircraft deposits applied towards acquired aircraft |  | 115,085
Decrease (increase) in other assets | 21,857 | (49,073)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 61,003 | (864,569)
CASH FLOWS FROM FINANCING ACTIVITIES: |  |
Proceeds from issuance of long-term debt | 25,000 | 601,389
Principal payments on long-term debt | (331,183) | (299,785)
Payment of debt issuance cost | (108) | (1,949)
Net proceeds from issuance of common stock | 2,811 | 2,958
Employee income tax paid on vested equity awards | (585) | (1,150)
Purchase of treasury stock | (246,499) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (550,564) | 301,463
Increase (decrease) in cash and cash equivalents | 22,346 | (219,571)
Cash and cash equivalents at beginning of period | 102,984 | 258,421
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 125,330 | 38,850
Non-cash investing and financing activities: |  |
Acquisition of property and equipment | 16,614 | 15,801
Derecognition of right of use assets | (39,247) |
Derecognition of operating lease liabilities | 39,247 |
Cash paid during the period for: |  |
Interest, net of capitalized amounts | 98,196 | 92,230
Income taxes | $ 9,184 | $ 356

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