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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

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)			2021						2020
Flight equipment			$	2,576,315					$	2,331,499
Computer hardware and software			160,459						149,727
Land and buildings/leasehold improvements			86,036						87,030
Other property and equipment			132,875						80,601
Total property and equipment			2,955,685						2,648,857
Less accumulated depreciation and amortization			(696,178)						(598,546)
Property and equipment, net			$	2,259,507					$	2,050,311

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)															2021						2020						2019
Basic:
Net income (loss)															$	151,853					$	(184,093)					$	232,117
Less income allocated to participating securities															(2,218)						(236)						(3,413)
Net income (loss) attributable to common stock															$	149,635					$	(184,329)					$	228,704
Earnings (loss) per share, basic															$	8.69					$	(11.53)					$	14.27
Weighted-average shares outstanding															17,212						15,992						16,027
Diluted:
Net income (loss)															$	151,853					$	(184,093)					$	232,117
Less income allocated to participating securities															(2,215)						(236)						(3,410)
Net income (loss) attributable to common stock															$	149,638					$	(184,329)					$	228,707
Earnings (loss) per share, diluted															$	8.68					$	(11.53)					$	14.26
Weighted-average shares outstanding															17,212						15,992						16,027
Dilutive effect of stock options and restricted stock															145						—						51
Adjusted weighted-average shares outstanding under treasury stock method															17,357						15,992						16,078
Participating securities excluded under two-class method															(126)						—						(37)
Adjusted weighted-average shares outstanding under two-class method															17,231						15,992						16,041

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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.

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-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
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-Section 50
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