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Summary of Significant Accounting Policies (Tables)

12 Months Ended

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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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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