XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

Leases (Notes) | 6 Months Ended
--- | ---
Jun. 30, 2021
Leases [Abstract] |
Lessee, Leases [Policy Text Block] | Leases The Company evaluates all operating leases and they are measured on the balance sheet with a lease liability and right-of-use asset (“ROU”) at inception. ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make scheduled lease payments. Airport terminal leases mostly include variable lease payments outside of those based on a fixed index, and are therefore not recorded as ROU assets. The following table summarizes the Company's total assets and liabilities related to leases as of the dates indicated:
(in thousands) | Classification on the Balance Sheet | June 30, 2021 |  | December 31, 2020
Assets |  |  |  |
Operating lease assets(1) | Operating lease right-of-use assets | $ | 128,537 |  |  | $ | 115,911 |
Finance lease assets(2) | Property and equipment, net | 239,019 |  |  | 133,175 |
Total lease assets |  | $ | 367,556 |  |  | $ | 249,086 |
Liabilities |  |  |  |
Current |  |  |  |
Operating(1) | Current operating lease liabilities | $ | 16,940 |  |  | $ | 14,313 |
Finance(2) | Current maturities of long-term debt and finance lease obligations | 13,835 |  |  | 9,767 |
Noncurrent |  |  |  |
Operating(1) | Noncurrent operating lease liabilities | 114,761 |  |  | 102,289 |
Finance(2) | Long-term debt and finance lease obligations | 225,039 |  |  | 117,060 |
Total lease liabilities |  | $ | 370,575 |  |  | $ | 243,429 |
(1) Represents assets and liabilities of 16 aircraft, office equipment, certain airport and terminal facilities, and other assets under operating leases (2) The June 30, 2021 number represents assets and liabilities of ten aircraft under finance leases Sale-Leaseback Transaction During the six months ended June 30, 2021, the Company entered into a sale-leaseback transaction involving three aircraft and generating $105.0 million of proceeds. The lease was classified as a finance lease and as a result, the transaction did not qualify as a sale. The aircraft were not removed from property and equipment in the Company's balance sheet and the Company recorded a financial liability in the amount of $105.0 million. The proceeds from this transaction are treated as cash inflows from finance lease obligations and reported in financing activities on the statement of cash flows.
Sale Leaseback Transactions [Text Block] | Sale-Leaseback Transaction During the six months ended June 30, 2021, the Company entered into a sale-leaseback transaction involving three aircraft and generating $105.0 million of proceeds. The lease was classified as a finance lease and as a result, the transaction did not qualify as a sale. The aircraft were not removed from property and equipment in the Company's balance sheet and the Company recorded a financial liability in the amount of $105.0 million. The proceeds from this transaction are treated as cash inflows from finance lease obligations and reported in financing activities on the statement of cash flows.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for leasing arrangement entered into by lessee. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918666-209980 + Details
Name: | us-gaap_LesseeLeasesPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for sale leaseback transaction. Includes, but is not limited to, terms and conditions of transaction and gain (loss) from transaction. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2209073 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=77888253 + Details
Name: | us-gaap_SaleLeasebackTransactionDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration