XML 94 R36.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost
The components of lease costs recognized on the statements of income were as follows:
Year Ended December 31,
(in thousands)Classification on the Statements of Income202420232022
Finance lease costs:
Amortization of assetsDepreciation and amortization$23,855 $27,170 $17,579 
Interest on lease liabilitiesInterest expense25,994 27,502 23,034 
Operating lease costAircraft lease rentals; Station operations; Maintenance and repairs; Other operating expense26,178 25,246 24,986 
Variable lease costStation operations; Maintenance and repairs; Other operating expense492 1,563 1,469 
Total lease cost$76,519 $81,481 $67,068 
Schedule of Lease-related Asset and Liabilities
The table below presents the lease-related assets and liabilities recorded on the balance sheet.
As of December 31,
(in thousands)Classification on the Balance Sheet20242023
Assets
Operating lease assetsOperating lease right-of-use assets, net$81,218 $100,707 
Finance lease assetsProperty and equipment, net of accumulated depreciation427,664 466,075 
Total lease assets$508,882 $566,782 
Liabilities
Current
OperatingCurrent operating lease liabilities$20,714 $20,873 
FinanceCurrent maturities of long-term debt and finance lease obligations26,836 25,352 
Noncurrent
OperatingNoncurrent operating lease liabilities62,392 82,410 
FinanceLong-term debt and finance lease obligations403,060 429,896 
Total lease liabilities$513,002 $558,531 
Weighted-average remaining lease term
Operating leases7.2 years7.4 years
Finance leases6.1 years7.1 years
Weighted-average discount rate
Operating leases5.6 %5.5 %
Finance leases5.9 %5.9 %
Schedule of Cash Flow, Supplemental Disclosures
The table below presents supplemental cash flow information related to leases during the years ended December 31, 2024, 2023 and 2022.

Year Ended December 31,
(in thousands)202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$26,679 $25,774 $25,775 
Operating cash flows for finance leases26,056 27,672 22,366 
Financing cash flows for finance leases25,352 39,044 16,621 
Schedule of Future Minimum Payments of Lease Liabilities
The table below indicates the future minimum payments of lease liabilities as of December 31, 2024.

(in thousands)Operating LeasesFinance Leases
2025$24,532 $51,408 
202613,896 51,108 
202711,688 51,108 
20289,997 65,908 
202910,027 104,396 
Thereafter32,590 231,772 
Total lease payments102,730 555,700 
Less imputed interest(19,624)(125,804)
Total lease obligations83,106 429,896 
Less current obligations(20,714)(26,836)
Long-term lease obligations$62,392 $403,060