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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Estimated Useful Lives | The estimated useful lives of the principal asset classes are shown below.
Aircraft, engines and related rotable parts | 10-25 years
Buildings and leasehold improvements | 10-25 years
Equipment | 3-10 years
Computer hardware and software | 3-10 years
Property and equipment consisted of the following:
| As of December 31,
(in thousands) | 2020 |  | 2019
Flight equipment | $ | 2,331,499 |  |  | $ | 2,289,157 |
Computer hardware and software | 149,727 |  |  | 171,516 |
Land and buildings/leasehold improvements (1) | 87,030 |  |  | 98,885 |
Other property and equipment | 80,601 |  |  | 161,760 |
Total property and equipment | 2,648,857 |  |  | 2,721,318 |
Less accumulated depreciation and amortization | (598,546) |  |  | (484,510) |
Property and equipment, net | $ | 2,050,311 |  |  | $ | 2,236,808 |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of net income (loss) per share on a basic and diluted basis for the periods indicated:
|  |  |  |  | Year ended December 31,
(in thousands, except per share data) |  |  |  |  | 2020 |  | 2019 |  | 2018
Basic: |  |  |  |  |  |  |  |  |
Net income (loss) |  |  |  |  | $ | (184,093) |  |  | $ | 232,117 |  |  | $ | 161,802 |
Less net income (loss) allocated to participating securities |  |  |  |  | (236) |  |  | (3,413) |  |  | (2,106) |
Net income (loss) attributable to common stock |  |  |  |  | $ | (184,329) |  |  | $ | 228,704 |  |  | $ | 159,696 |
Earnings (loss) per share, basic |  |  |  |  | $ | (11.53) |  |  | $ | 14.27 |  |  | $ | 10.02 |
Weighted-average shares outstanding |  |  |  |  | 15,992 |  |  | 16,027 |  |  | 15,941 |
Diluted: |  |  |  |  |  |  |  |  |
Net income (loss) |  |  |  |  | $ | (184,093) |  |  | $ | 232,117 |  |  | $ | 161,802 |
Less net income (loss) allocated to participating securities |  |  |  |  | (236) |  |  | (3,410) |  |  | (2,104) |
Net income (loss) attributable to common stock |  |  |  |  | $ | (184,329) |  |  | $ | 228,707 |  |  | $ | 159,698 |
Earnings (loss) per share, diluted |  |  |  |  | $ | (11.53) |  |  | $ | 14.26 |  |  | $ | 10.00 |
Weighted-average shares outstanding |  |  |  |  | 15,992 |  |  | 16,027 |  |  | 15,941 |
Dilutive effect of stock options and restricted stock |  |  |  |  | — |  |  | 51 |  |  | 53 |
Adjusted weighted-average shares outstanding under treasury stock method |  |  |  |  | 15,992 |  |  | 16,078 |  |  | 15,994 |
Participating securities excluded under two-class method |  |  |  |  | — |  |  | (37) |  |  | (27) |
Adjusted weighted-average shares outstanding under two-class method |  |  |  |  | 15,992 |  |  | 16,041 |  |  | 15,967 |

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