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v3.23.3

Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Selected information for the Company's segments and the reconciliation to the consolidated financial statement amounts are as follows:
(in thousands) |  | Airline |  | Sunseeker Resort |  |  |  | Consolidated
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |
Operating revenue: |  |  |  |  |  |  |  |
Passenger |  | $ | 516,251 |  |  | $ | — |  |  |  |  | $ | 516,251 |
Third party products |  | 30,944 |  |  | — |  |  |  |  | 30,944 |
Fixed fee contracts |  | 17,741 |  |  | — |  |  |  |  | 17,741 |
Other |  | 419 |  |  | 4 |  |  |  |  | 423 |
Operating income (loss) |  | 5,814 |  |  | (23,697) |  |  |  |  | (17,883) |
Interest expense, net(1) |  | 20,654 |  |  | 5,535 |  |  |  |  | 26,189 |
Capitalized interest |  | (8,224) |  |  | (6,664) |  |  |  |  | (14,888) |
Depreciation and amortization |  | 55,730 |  |  | 86 |  |  |  |  | 55,816 |
Capital expenditures |  | 157,579 |  |  | 78,254 |  |  |  |  | 235,833 |
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |
Operating revenue: |  |  |  |  |  |  |  |
Passenger |  | $ | 516,476 |  |  | $ | — |  |  |  |  | $ | 516,476 |
Third party products |  | 27,132 |  |  | — |  |  |  |  | 27,132 |
Fixed fee contracts |  | 15,881 |  |  | — |  |  |  |  | 15,881 |
Other |  | 836 |  |  | — |  |  |  |  | 836 |
Operating income (loss) |  | 6,844 |  |  | (37,755) |  |  |  |  | (30,911) |
Interest expense, net(1) |  | 20,197 |  |  | 4,115 |  |  |  |  | 24,312 |
Capitalized interest |  | (1,315) |  |  | (2,981) |  |  |  |  | (4,296) |
Depreciation and amortization |  | 50,064 |  |  | 28 |  |  |  |  | 50,092 |
Capital expenditures |  | 165,814 |  |  | 91,076 |  |  |  |  | 256,890 |
(in thousands) |  | Airline |  | Sunseeker Resort |  |  |  | Consolidated
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |
Operating revenue: |  |  |  |  |  |  |  |
Passenger |  | $ | 1,768,274 |  |  | $ | — |  |  |  |  | $ | 1,768,274 |
Third party products |  | 85,886 |  |  | — |  |  |  |  | 85,886 |
Fixed fee contracts |  | 43,599 |  |  | — |  |  |  |  | 43,599 |
Other |  | 1,088 |  |  | 8 |  |  |  |  | 1,096 |
Operating income (loss) |  | 230,894 |  |  | (20,525) |  |  |  |  | 210,369 |
Interest expense, net(1) |  | 61,157 |  |  | 16,326 |  |  |  |  | 77,483 |
Capitalized interest |  | (13,143) |  |  | (15,806) |  |  |  |  | (28,949) |
Depreciation and amortization |  | 164,196 |  |  | 234 |  |  |  |  | 164,430 |
Capital expenditures |  | 425,996 |  |  | 260,892 |  |  |  |  | 686,888 |
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |
Operating revenue: |  |  |  |  |  |  |  |
Passenger |  | $ | 1,573,041 |  |  | $ | — |  |  |  |  | $ | 1,573,041 |
Third party products |  | 77,399 |  |  | — |  |  |  |  | 77,399 |
Fixed fee contracts |  | 38,186 |  |  | — |  |  |  |  | 38,186 |
Other |  | 1,654 |  |  | — |  |  |  |  | 1,654 |
Operating income (loss) |  | 44,902 |  |  | (42,455) |  |  |  |  | 2,447 |
Interest expense, net(1) |  | 54,857 |  |  | 10,752 |  |  |  |  | 65,609 |
Capitalized interest |  | (2,746) |  |  | (4,848) |  |  |  |  | (7,594) |
Depreciation and amortization |  | 145,573 |  |  | 45 |  |  |  |  | 145,618 |
Capital expenditures |  | 404,015 |  |  | 228,452 |  |  |  |  | 632,467 |
(1) Excludes losses (net of gains) on debt extinguishment of $600 thousand and $806 thousand for quarter-to-date and year-to-date 2023 respectively. During the third quarter 2022, the Company recognized a loss on debt extinguishment of $5.0 million in relation to the prepayment of its Term Loan B. Total assets were as follows as of the dates indicated:
(in thousands) | As of September 30, 2023 |  | As of December 31, 2022
Airline | $ | 4,283,299 |  |  | $ | 4,047,134 |
Sunseeker Resort | 629,037 |  |  | 464,163 |
Consolidated | $ | 4,912,336 |  |  | $ | 4,511,297 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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