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Operating Segments (Notes)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segments

Operating segments are components of a company for which separate financial and operating information is regularly evaluated and reported to the Chief Operating Decision Maker ("CODM"), and is used to allocate resources and analyze performance. The Company's CODM is the executive leadership team, which reviews information about the Company's three operating segments: the Airline, Sunseeker Resort, and other non-airline.

Airline Segment

The Airline segment operates as a single business unit and includes all scheduled service air transportation, ancillary air-related products and services, third party products and services, fixed fee contract air transportation and other airline-related revenue. The CODM evaluation includes, but is not limited to, route and flight profitability data, ancillary and third party product and service offering statistics, and fixed fee contract information when making resource allocation decisions with the goal of optimizing consolidated financial results.

Sunseeker Resort Segment

The Sunseeker Resort segment represents activity related to the development and construction of Sunseeker Resort in Southwest Florida, as well as the operation of Kingsway golf course. Due to the various impacts of COVID-19, the Company suspended construction of Sunseeker Resort and temporarily closed operation of Kingsway golf course. At this time, it is uncertain when construction will resume and when the golf course will re-open. The Company recognized a $136.8 million non-cash impairment charge related to Sunseeker assets in the first quarter 2020 (refer to Note 12 for additional information).

Other non-Airline Segment

The other non-airline segment includes the Teesnap golf course management solution and Allegiant Nonstop family entertainment centers. Allegiant Nonstop family entertainment centers are comprised of games, attractions, and food facilities.

Due to the impacts of COVID-19, the Company temporarily closed the Allegiant Nonstop location in Warren, MI, and permanently closed the Allegiant Nonstop location in Clearfield, Utah. The Company also permanently discontinued all activity for the Allegiant Nonstop location in West Jordan, Utah, which was being developed. An $18.3 million non-cash impairment charge was recognized in connection with these closures (refer to Note 12 for additional information).

In July 2019, management began evaluating strategic alternatives for Teesnap, and its business-to-business software as a service offering. In the first quarter of 2020, the Company recognized a non-cash $8.3 million impairment charge over Teesnap assets (refer to Note 12 for additional information). Teesnap remains an asset held for sale.

Selected information for the Company's segments and the reconciliation to the consolidated financial statement amounts are as follows:

(in thousands)	Airline(1)				Sunseeker Resort(2)				Other non- airline(3)				Consolidated
Three Months Ended March 31, 2020
Operating revenue:
Passenger	$	378,911			$	—			$	—			$	378,911
Third party products	15,976				—				—				15,976
Fixed fee contract	8,919				—				—				8,919
Other	876				621				3,878				5,375
Operating income (loss)	51,119				(139,235		)		(29,689		)		(117,805		)
Interest expense, net	11,199				576				—				11,775
Depreciation and amortization	42,451				476				772				43,699
Capital expenditures	118,899				45,160				442				164,501
Three Months Ended March 31, 2019
Operating revenue:
Passenger	$	419,977			$	—			$	—			$	419,977
Third party products	17,141				—				—				17,141
Fixed fee contract	10,575				—				—				10,575
Other	631				902				2,396				3,929
Operating income (loss)	98,490				(1,222		)		(6,190		)		91,078
Interest expense, net	13,221				158				—				13,379
Depreciation and amortization	35,229				156				797				36,182
Capital expenditures	108,920				5,275				8,356				122,551

(1) Includes $9.5 million special charge in the first quarter 2020

(2) Includes $136.8 million special charge in the first quarter 2020

(3) Includes $26.6 million special charge in the first quarter 2020

Total assets were as follows as of the dates indicated:

(in thousands)	March 31, 2020				December 31, 2019
Airline	$	3,132,812			$	2,830,236
Sunseeker Resort	38,223				133,362
Other non-airline	20,872				47,205
Consolidated	$	3,191,907			$	3,010,803

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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