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Special Charges
3 Months Ended
Mar. 31, 2025
Unusual or Infrequent Items, or Both [Abstract]  
Special Charges Special Charges
Sunseeker Resort

Sunseeker Resort at Charlotte Harbor (the "Resort" or "Sunseeker Resort") was impacted by Hurricanes Ian, Idalia, Debby, Helene and Milton between 2022 and 2024. While the Resort was built to withstand hurricanes and flooding, these weather events are unprecedented in their frequency and the amount of destruction caused in Southwest Florida. The Company believes these weather events will be unusual and has included the cost of these events and the related insurance recoveries in special charges. The estimated losses are recorded to special charges in the period of the event and are offset by insurance recoveries in the period they are approved for payment by the insurer.

Airline

In September 2023, the Company reevaluated its fleet plan and identified 21 airframes for early retirement to coincide with 737 MAX aircraft deliveries as scheduled under an amendment to the Company's agreement with The Boeing Company signed in September 2023. Two airframes were retired in 2023 and seven airframes were retired in 2024. Additionally, two airframes have been retired during the three months ended March 31, 2025. The remaining airframes are to be retired between August 2025 and December 2026. The accelerated depreciation on these airframes resulting from a change in the estimated useful life is recorded as a special charge in the quarters ended March 31, 2025 and March 31, 2024.
Special Charges

The table below summarizes special charges recorded during the three months ended March 31, 2025, and 2024.
Three Months Ended March 31,
(in thousands)20252024
Losses due to Sunseeker weather events, net of insurance recoveries(1)
$(2,947)$(1,816)
Accelerated depreciation on airframes identified for early retirement1,392 14,915 
Total special charges$(1,555)$13,099 
(1) Includes $3.7 million and $0.7 million of business interruption insurance proceeds for the three months ended March 31, 2025 and March 31, 2024, respectively.