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Net Income Per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2024
Net Income Per Common Share |
Schedule of antidilutive securities excluded from calculation of diluted EPS | The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income per common share. Securities that could potentially dilute Basic EPS in the future, and which were excluded from the calculation of Diluted EPS because inclusion of such share would be anti-dilutive, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ | ​ | 2024 | ​ | 2023 |  | 2024 | ​ | 2023
Treasury Warrants(1) | ​ | ​ | — | ​ | ​ | 78 | ​ | ​ | — | ​ | ​ | 355
Employee Stock Awards | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20
Total antidilutive securities | ​ |  | — | ​ |  | 78 | ​ |  | — | ​ |  | 375
| (1) | Warrants originally issued to U.S. Treasury to purchase shares of SkyWest common stock issued pursuant to the three Payroll Support Program Agreements and a loan agreement with the U.S. Treasury.
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Schedule of Basic EPS and Diluted EPS | The calculation of the weighted average number of shares of common stock outstanding for Basic EPS and Diluted EPS are as follows for the periods indicated (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ | ​ | 2024 | ​ | 2023 |  | 2024 | ​ | 2023
Numerator: |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |
Net income | ​ | $ | 89,709 | ​ | $ | 23,478 | ​ | $ | 225,585 | ​ | $ | 16,826
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share weighted average shares | ​ |  | 40,253 | ​ |  | 41,826 | ​ |  | 40,244 | ​ |  | 45,018
Dilutive effect of employee stock awards and warrants | ​ |  | 1,308 | ​ |  | 754 | ​ |  | 1,251 | ​ |  | 522
Diluted earnings per share weighted average shares | ​ |  | 41,561 | ​ |  | 42,580 | ​ |  | 41,495 | ​ |  | 45,540
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share | ​ | $ | 2.23 | ​ | $ | 0.56 | ​ | $ | 5.61 | ​ | $ | 0.37
Diluted earnings per share | ​ | $ | 2.16 | ​ | $ | 0.55 | ​ | $ | 5.44 | ​ | $ | 0.37
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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- 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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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