| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Write off of Deferred Debt Issuance Cost | ||||||||||
17,445 | 10,468 | 3,135 | - | - | - | - | - | 2,886 | 0 | 0 |
Purchase of common stock | ||||||||||
0 | 3,581 | 11,184 | 63,570 | 10,345 | 0 | 0 | - | - | - | - |
Withholding taxes paid for conversion of employee stock awards | ||||||||||
2,438 | 2,325 | 2,914 | 2,300 | 1,310 | 940 | - | - | - | - | - |
OPERATING ACTIVITIES: | ||||||||||
Net earnings from continuing operations | ||||||||||
59,983 | 67,883 | 21,740 | 21,060 | 39,155 | 32,074 | -19,625 | 41,648 | 23,865 | 39,904 | 28,202 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ||||||||||
1,219 | 1,402 | -3,245 | 2,428 | 2,067 | -2,214 | -3 | -774 | -673 | -70 | 6,247 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||
Impairment of aircraft | ||||||||||
- | - | - | - | - | - | - | - | 22,065 | 0 | 0 |
Impairment of goodwill and acquired intangibles | ||||||||||
- | - | - | - | - | - | 52,585 | 0 | 5,079 | 0 | 0 |
Depreciation and amortization | ||||||||||
285,353 | 204,559 | 170,751 | 140,002 | 125,443 | 108,254 | 91,749 | 84,477 | 91,063 | 87,594 | 84,587 |
Pension and post-retirement | ||||||||||
15,700 | 3,766 | 20,933 | 11,532 | 6,920 | 8,492 | 7,061 | 5,562 | -2,641 | -1,990 | -25,268 |
Deferred income taxes | ||||||||||
10,478 | 18,986 | -30,771 | 13,807 | 23,691 | 17,757 | 18,772 | 23,749 | 17,126 | 20,820 | 19,743 |
Amortization of stock-based compensation | ||||||||||
7,002 | 5,047 | 3,632 | 3,165 | 2,454 | 2,924 | 2,732 | 3,231 | 2,877 | 1,720 | 1,316 |
Amortization of DHL promissory note | ||||||||||
- | - | - | - | 1,550 | 6,200 | 6,200 | 6,200 | 6,200 | 4,650 | 0 |
Net gain on financial instruments | ||||||||||
-10,000 | -8 | 1,400 | 969 | 920 | 1,096 | 631 | 1,879 | -4,881 | 0 | 0 |
Changes in assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
14,551 | -25,380 | 31,313 | 9,597 | 14,410 | -9,582 | 4,994 | 4,328 | -1,980 | -41,529 | -4,436 |
Inventory and prepaid supplies | ||||||||||
6,493 | 3,273 | 4,107 | 5,269 | 3,896 | 4,164 | 900 | 1,759 | 13 | 6,253 | -8,241 |
Accounts payable | ||||||||||
3,340 | 10,724 | 23,500 | 5,603 | 4,424 | -803 | 2,012 | -5,688 | -1,715 | 2,729 | 1,871 |
Unearned revenue | ||||||||||
1,446 | -3,824 | -7,331 | -3,216 | -1,116 | 1,148 | -6,205 | 654 | 9,337 | 6,789 | -10,655 |
Accrued expenses, salaries, wages, benefits and other liabilities | ||||||||||
13,390 | 3,605 | 780 | 5,678 | 8,375 | 344 | -112 | 4,898 | -8,209 | -44,648 | -36,373 |
Pension and post-retirement assets | ||||||||||
-12,132 | -35,293 | -13,083 | -11,819 | -16,098 | -14,662 | -38,352 | -27,926 | -23,159 | -32,789 | -32,190 |
Other | ||||||||||
-2,456 | 4,109 | -582 | -1,611 | -470 | 1,711 | 3,478 | 5,032 | 2,443 | -1,578 | -2,291 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | ||||||||||
396,938 | 298,025 | 234,992 | 193,092 | 175,009 | 149,725 | 94,411 | 110,633 | 133,220 | 112,263 | 102,984 |
INVESTING ACTIVITIES: | ||||||||||
Expenditures for property and equipment | ||||||||||
453,502 | 292,915 | 296,939 | 264,477 | 158,714 | 112,184 | 112,712 | 155,243 | 213,083 | 110,681 | 101,227 |
Proceeds from property and equipment | ||||||||||
10,804 | 17,570 | 381 | 12,380 | 6,841 | 3,602 | 1,521 | 5,772 | 11,147 | 31,981 | 8,406 |
Investment in nonconsolidated affiliate | ||||||||||
24,360 | 866,558 | 11,792 | -17,395 | 0 | -15,000 | 0 | 0 | 1,750 | 0 | 0 |
Redemption of long term deposits | ||||||||||
0 | 0 | 9,975 | 0 | 0 | - | - | - | - | - | - |
Other proceeds | ||||||||||
- | - | - | - | - | - | -6,803 | 0 | - | - | - |
Proceeds from the redemption of marketable securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | 26 |
NET CASH USED IN INVESTING ACTIVITIES | ||||||||||
-467,058 | -1,141,903 | -298,375 | -269,492 | -151,873 | -123,582 | -104,388 | -149,471 | -200,186 | -78,700 | -92,795 |
FINANCING ACTIVITIES: | ||||||||||
Principal payments on long term obligations | ||||||||||
39,500 | 58,640 | 254,446 | 44,069 | 69,344 | 79,221 | 53,766 | 26,223 | 214,424 | 70,249 | 43,074 |
Proceeds from borrowings | ||||||||||
100,018 | 945,000 | 115,000 | 185,000 | 45,000 | 45,000 | 80,000 | 50,000 | 265,000 | 0 | 0 |
Proceeds from Convertible Debt | ||||||||||
0 | 0 | 258,750 | 0 | 0 | - | - | - | - | - | - |
Reimbursement of Hanger Construction Costs | ||||||||||
- | - | - | - | - | - | - | - | 0 | - | - |
Payments for financing costs | ||||||||||
1,081 | 9,953 | 7,887 | 0 | 0 | - | - | - | 2,536 | 0 | 0 |
Purchase convertible note hedges | ||||||||||
0 | 0 | -56,097 | 0 | 0 | - | - | - | - | - | - |
Funding for hangar construction | ||||||||||
- | - | - | - | - | 7,879 | 0 | 0 | - | - | - |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | ||||||||||
56,999 | 870,501 | 79,724 | 75,061 | -35,999 | -27,282 | 26,234 | 23,777 | 48,040 | -70,249 | -43,074 |
Proceeds from issuance of warrants | ||||||||||
0 | 0 | 38,502 | 0 | 0 | - | - | - | - | - | - |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||||||
-13,121 | 26,623 | 16,341 | -1,339 | -12,863 | -1,139 | 16,257 | -15,061 | -16,040 | -36,686 | -32,885 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||||||
Interest paid, net of amount capitalized | ||||||||||
57,546 | 17,278 | 13,693 | 10,738 | 10,748 | 13,576 | 13,752 | 13,195 | 12,985 | 16,656 | 24,093 |
Federal alternative minimum and state income taxes paid | ||||||||||
1,294 | 1,213 | 1,938 | 923 | 870 | 604 | 1,313 | 377 | 2,448 | 523 | 3,118 |
SUPPLEMENTAL NON-CASH INFORMATION: | ||||||||||
Debt extinguished | ||||||||||
- | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 4,650 | 91,985 |
Debt extinguished | ||||||||||
- | - | - | - | 1,550 | - | - | - | - | - | 0 |
Accrued expenditures for property and equipment | ||||||||||
38,396 | 11,234 | 25,142 | 9,118 | 7,033 | 7,648 | 1,055 | 4,770 | 10,921 | 1,404 | 1,749 |
Net (gain) loss on financial instruments | ||||||||||
-12,302 | 7,296 | -79,789 | -18,107 | 920 | 1,096 | - | - | - | - | - |
Accrued consideration for acquisition | ||||||||||
0 | 7,845 | 0 | 0 | - | - | - | - | - | - | - |