| Sep'19 | Sep'18 | Sep'17 | Sep'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
47,580 | 33,255 | 32,828 | 14,920 | |||
Adjustments to reconcile net income to net cash flows provided by operating activities: | ||||||
Depreciation and amortization | ||||||
77,994 | 65,031 | 61,048 | 46,020 | |||
Stock compensation expense | ||||||
5,508 | 12,929 | 1,288 | 1,546 | |||
Deferred income taxes | ||||||
15,503 | -17,874 | 20,515 | 9,513 | |||
Amortization of unfavorable lease liabilities and deferred credits | ||||||
10,839 | 11,035 | 10,626 | 9,626 | |||
non-interest-bearing subordinated notes | ||||||
- | - | - | 1,990 | |||
Amortization of debt financing costs and accretion of interest on non-interest-bearing subordinated notes | ||||||
4,203 | 4,606 | 2,689 | - | |||
Loss on extinguishment of debt | ||||||
-3,616 | - | - | - | |||
Loss (Gain) on disposal of assets | ||||||
5 | -307 | -533 | -428 | |||
Provision for obsolete expendable parts and supplies | ||||||
642 | 200 | 419 | 41 | |||
Lease termination | ||||||
9,540 | 15,109 | - | - | |||
Provision for doubtful accounts | ||||||
- | - | -86 | 575 | |||
Changes in assets and liabilities: | ||||||
Receivables | ||||||
9,275 | 5,437 | -530 | -1,908 | |||
Expendable parts and supplies | ||||||
6,310 | 744 | 3,379 | 1,675 | |||
Prepaid expenses and other current assets | ||||||
713 | -7,584 | 17,243 | -1,554 | |||
Accounts payable | ||||||
12,119 | 2,427 | -17,336 | 29,673 | |||
Accrued liabilities | ||||||
2,113 | 12,581 | 3,547 | 7,625 | |||
Net cash provided by operating activities | ||||||
151,676 | 118,939 | 74,727 | 104,492 | |||
Cash flows from investing activities: | ||||||
Capital expenditures | ||||||
125,350 | 117,989 | 84,500 | 490,081 | |||
Purchases of investment securities | ||||||
14,884 | 19,921 | - | - | |||
Sales of investment securities | ||||||
34,961 | - | - | - | |||
Proceeds from sale of rotable spare parts | ||||||
- | - | 18 | 196 | |||
Withdrawal (deposit) of restricted cash | ||||||
- | - | - | -807 | |||
Net returns (payments) of lease and equipment deposits | ||||||
-431 | 653 | -406 | 2,049 | |||
Net cash used in investing activities | ||||||
-104,842 | -138,563 | -84,076 | -491,127 | |||
Cash flows from financing activities: | ||||||
Proceeds from long-term debt | ||||||
171,658 | 187,703 | 185,912 | 452,841 | |||
Principal payments on long-term debt and financing leases | ||||||
244,087 | 222,153 | 152,995 | 75,496 | |||
Debt financing costs | ||||||
5,680 | 5,852 | 3,377 | 10,086 | |||
Debt prepayment costs | ||||||
1,672 | - | - | - | |||
Proceeds from issuance of common stock | ||||||
- | 124,246 | - | - | |||
Stock issuance costs | ||||||
-185 | 12,540 | - | - | |||
Repurchase of stock | ||||||
1,871 | 4,993 | 1,043 | 1,411 | |||
Net cash used in financing activities | ||||||
-81,467 | 66,411 | 28,497 | 365,848 | |||
Net change in cash, cash equivalents and restricted cash | ||||||
-34,633 | 46,787 | 19,148 | - | |||
Net change in cash and cash equivalents | ||||||
- | - | - | -20,787 | |||
Supplemental cash flow information | ||||||
Cash paid for interest | ||||||
53,503 | 50,672 | 43,798 | 28,693 | |||
Cash paid for income taxes, net | ||||||
419 | 385 | 332 | 196 | |||
Supplemental non-cash investing activities | ||||||
Accrued capital expenditures | ||||||
179 | 16,677 | 9,533 | 418 | |||
Acquisition of capital leases | ||||||
- | 10,473 | - | - | |||