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Segment Reporting | 6 Months Ended
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Jun. 30, 2024
Segment Reporting |
Segment Reporting | (6) Segment Reporting The Company’s two reportable segments consist of (1) the operations of SkyWest Airlines and SWC (collectively, “SkyWest Airlines and SWC”) and (2) SkyWest Leasing activities. The Company’s chief operating decision maker analyzes the profitability of operating new aircraft financed through the issuance of debt, including the Company’s E175 fleet, separately from the profitability of the Company’s capital deployed for ownership and financing of such aircraft. The SkyWest Airlines and SWC segment includes revenue earned under the applicable capacity purchase agreements attributed to operating such aircraft and the respective operating costs. The SkyWest Airlines and SWC segment also includes revenue and operating expenses attributed to other flying agreements and airport services agreements. The SkyWest Leasing segment includes applicable revenue earned under the applicable capacity purchase agreements attributed to the ownership of new aircraft acquired through the issuance of debt and the respective depreciation and interest expense of such aircraft. The SkyWest Leasing segment also includes the activity of leasing regional jet aircraft and spare engines to third parties and other activities. The SkyWest Leasing segment’s total assets and capital expenditures include new aircraft acquired through the issuance of debt and assets leased to third parties. Additionally, aircraft removed from SkyWest Airlines’ operations and held for sale are included in the SkyWest Leasing segment. The following represents the Company’s segment data for the three-month periods ended June 30, 2024 and 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2024
​ | ​ | SkyWest Airlines | ​ | SkyWest | ​ | ​
​ |  | and SWC |  | Leasing |  | Consolidated
Operating revenues (1) | ​ | $ | 711,784 | ​ | $ | 155,334 | ​ | $ | 867,118
Operating expense | ​ |  | 678,102 | ​ |  | 69,376 | ​ |  | 747,478
Depreciation and amortization expense | ​ |  | 37,004 | ​ |  | 59,810 | ​ |  | 96,814
Interest expense | ​ |  | 3,255 | ​ |  | 25,711 | ​ |  | 28,966
Segment profit (2) | ​ |  | 30,427 | ​ |  | 60,247 | ​ |  | 90,674
Total assets (as of June 30, 2024) | ​ |  | 2,644,446 | ​ |  | 4,317,993 | ​ |  | 6,962,439
Capital expenditures (including non-cash) | ​ |  | 40,907 | ​ |  | — | ​ |  | 40,907
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2023
​ | ​ | SkyWest Airlines | ​ | SkyWest | ​ | ​
​ |  | and SWC |  | Leasing |  | Consolidated
Operating revenues (1) | ​ | $ | 586,476 | ​ | $ | 139,167 | ​ | $ | 725,643
Operating expense | ​ |  | 624,490 | ​ |  | 69,293 | ​ |  | 693,783
Depreciation and amortization expense | ​ |  | 37,966 | ​ |  | 59,203 | ​ |  | 97,169
Interest expense | ​ |  | 4,695 | ​ |  | 29,023 | ​ |  | 33,718
Segment profit (loss) (2) | ​ |  | (42,709) | ​ |  | 40,851 | ​ |  | (1,858)
Total assets (as of June 30, 2023) | ​ |  | 2,570,050 | ​ | ​ | 4,545,724 | ​ |  | 7,115,774
Capital expenditures (including non-cash) | ​ |  | 25,609 | ​ | ​ | 410 | ​ |  | 26,019
(1) | Prorate revenue and airport customer service revenue are reflected in the SkyWest Airlines and SWC segment.
(2) | Segment profit (loss) is equal to operating income less interest expense.
The following represents the Company’s segment data for the six-month periods ended June 30, 2024 and 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2024
​ | ​ | SkyWest Airlines | ​ | SkyWest | ​ | ​
​ |  | and SWC |  | Leasing |  | Consolidated
Operating revenues (1) | ​ | $ | 1,358,593 | ​ | $ | 312,139 | ​ | $ | 1,670,732
Operating expense | ​ |  | 1,319,465 | ​ |  | 132,121 | ​ |  | 1,451,586
Depreciation and amortization expense | ​ |  | 73,112 | ​ |  | 119,572 | ​ |  | 192,684
Interest expense | ​ |  | 6,731 | ​ |  | 52,064 | ​ |  | 58,795
Segment profit (2) | ​ |  | 32,397 | ​ |  | 127,954 | ​ |  | 160,351
Total assets (as of June 30, 2024) | ​ |  | 2,644,446 | ​ |  | 4,317,993 | ​ |  | 6,962,439
Capital expenditures (including non-cash) | ​ |  | 85,257 | ​ |  | — | ​ |  | 85,257
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2023
​ | ​ | SkyWest Airlines | ​ | SkyWest | ​ | ​
​ |  | and SWC |  | Leasing |  | Consolidated
Operating revenues (1) | ​ | $ | 1,154,649 | ​ | $ | 262,825 | ​ | $ | 1,417,474
Operating expense | ​ |  | 1,257,882 | ​ |  | 132,436 | ​ |  | 1,390,318
Depreciation and amortization expense | ​ |  | 76,224 | ​ |  | 115,094 | ​ |  | 191,318
Interest expense | ​ |  | 8,757 | ​ |  | 58,581 | ​ |  | 67,338
Segment profit (loss) (2) | ​ |  | (111,990) | ​ |  | 71,808 | ​ |  | (40,182)
Total assets (as of June 30, 2023) | ​ |  | 2,570,050 | ​ | ​ | 4,545,724 | ​ |  | 7,115,774
Capital expenditures (including non-cash) | ​ |  | 46,720 | ​ | ​ | 87,220 | ​ |  | 133,940
(1) | Prorate revenue and airport customer service revenue are reflected in the SkyWest Airlines and SWC segment.
(2) | Segment profit (loss) is equal to operating income less interest expense.

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- Definition The entire disclosure for reporting segments including data and tables. 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