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Segments (Tables)

9 Months Ended

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

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- References

No definition available.

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