Skywest inc (SKYW)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Loss on sale of property and equipment

-

-

-

-

-

-4,016

-

-621

29

16

77

Gain from equity ownership in TRIP Airlines

-

-

-

-

-

24,922

10,830

-10,199

-13,273

635

1,785

Gain from early extinguishment of debt

-

-

-

1,279

33,660

-

-

-

-

-

-

Capitalized Brasilia EMB-120 engine overhauls

-

-

-

-

-

-18,812

-29,606

-25,742

-17,792

-19,050

-26,635

Special items

21,869

-

-

465,649

-

74,777

-

-

-

-

-

Adjustment to purchase accounting gain

-

-

-

-

-

-

-

-

-5,711

15,586

-

Impairment on marketable securities

-

-

-

-

-

-

-

-

-

-

-7,115

Net increase (decrease) in deferred income taxes

109,654

99,139

-145,517

-83,441

73,844

5,054

38,007

34,800

-21,537

58,525

59,350

Changes in operating assets and liabilities:
Decrease in restricted cash

-

-

-8,243

27

-3,366

-637

-7,334

119

-2,341

-4,971

2

Decrease (increase) in receivables

40,700

21,464

-4,201

-15,260

-21,076

-25,540

-18,916

-408

10,665

-2,818

56,444

Decrease (increase) in income tax receivable

-14,795

20,620

-1,673

4,118

92

1,939

840

-1,568

-1,788

-9,746

-2,260

Increase in inventories

4,303

7,935

1,246

1,986

2,860

890

24,513

-1,630

8,639

2,071

-14,507

Decrease in other current assets

-2,707

-77,484

-26,017

-37,569

28,598

25,985

31,578

39,451

28,668

19,532

-10,608

Increase in operating lease right-of-use asset

895

-14,243

-8,520

-8,108

-8,635

-7,672

-8,432

-7,112

-8,586

-8,756

-3,658

Increase (decrease) in accounts payable and other current liabilities

-54,043

56,076

67,018

-47,563

9,690

5,852

17,594

-7,653

10,161

6,289

46,908

Increase in other current liabilities

-

6,031

-

3,758

-4,498

13,668

5,514

11,867

-7,444

-8,891

-2,432

NET CASH PROVIDED BY OPERATING ACTIVITIES

721,030

802,534

684,124

506,665

417,325

290,130

289,890

288,824

162,126

347,089

362,865

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities

1,938,750

2,308,768

1,533,867

2,511,388

1,170,439

326,964

488,564

736,330

683,396

1,073,479

854,715

Sales of marketable securities

1,866,761

2,451,344

1,440,283

2,388,168

1,299,069

398,148

557,424

677,798

857,031

1,047,553

772,616

Issuance of United Air Lines note receivable

-

-

-

-

-

-

-

-

-

-

80,000

Purchase of ExpressJet, net of cash acquired

-

-

-

-

-

-

-

-

-

54,018

-

Payments received on note receivable from United Air Lines

-

-

-

-

-

-

-

-

-

79,333

667

Proceeds from the sale of aircraft, property and equipment

26,008

-

51,994

3,008

10,308

9,473

293

15,265

193

147

18,662

Acquisition of property and equipment:
Aircraft and rotable spare parts

581,329

1,062,380

661,176

1,138,963

710,871

653,473

102,499

57,277

158,942

141,474

392,393

Buildings and ground equipment

80,586

34,397

27,467

14,350

10,405

21,966

9,502

7,662

13,756

9,391

2,556

Proceeds from installment payment from sale of equity shares in TRIP Airlines

-

-

-

-

-

17,237

16,658

8,064

-

-

-

Aircraft deposits applied towards acquired aircraft

46,346

49,550

36,533

90,000

1,850

-

-

-

-

-

-

Net cash received from sale of ExpressJet subsidiary

53,200

-

-

-

-

-

-

-

-

-

-

Deposits on aircraft

52,817

41,937

46,733

650

-

-

40,000

-

13,500

400

-

Decrease (increase) in other assets

-4,133

36,816

10,904

-7,097

-10,772

7,681

-229

8,218

-817

25,647

25,458

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES

-657,034

-983,404

-751,337

-1,177,078

-569,716

-585,226

-65,961

-108,360

-11,553

-177,376

-563,177

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt

200,040

784,665

471,677

926,069

591,881

460,600

-

44,900

76,454

81,698

300,716

Principal payments on long-term debt

382,442

370,775

330,258

302,158

354,277

185,357

171,453

218,270

159,038

185,632

147,315

Net proceeds from issuance of common stock

6,271

5,212

4,660

8,142

9,754

2,692

4,385

6,231

4,446

4,907

8,787

Tax deficiency from exercise of commons stock

-

-

-

-

-

-

-

-

-13,900

-4,247

-16,143

Purchase of treasury and common stock and employee income tax paid on equity awards

78,476

54,448

20,008

-

18,726

8,414

11,739

902

60,681

30,009

18,445

Purchase of common stock

16,145

-

-

-

-

-

-

-

-

-

-

Employee income tax paid on vested equity awards

9,313

13,556

5,080

-

-

-

-

-

-

-

-

Increase in debt issuance cost

1,642

3,892

3,737

8,653

-2,779

4,591

-

-

-

-

-

Payment of cash dividends

23,467

19,744

15,015

9,256

8,260

8,195

8,258

8,177

8,466

9,000

9,052

NET CASH PROVIDED USED IN FINANCING ACTIVITIES

-305,174

327,462

102,239

614,144

223,151

256,735

-187,065

-176,218

-133,385

-133,789

150,834

Increase (decrease) in cash and cash equivalents

-241,178

146,592

35,026

-56,269

70,760

-38,361

36,864

4,246

17,188

35,924

-49,478

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Non-cash investing activities:
Acquisition of rotable spare parts

16,514

367

755

5,688

-

-

-

-

-

-

-

Debt assumed on aircraft acquired under operating leases

14,475

59,132

-

-

-

-

-

-

-

-

-

Engines contributed to joint venture

22,313

-

-

-

-

-

-

-

-

-

-

Non-cash assets used to acquire aircraft under operating leases

153,566

-

-

-

-

-

-

-

-

-

-

Lease liability arising from the recognition of right-of-use asset

456,472

-

-

-

-

-

-

-

-

-

-

Cash paid during the period for:
Interest, net of capitalized amounts

131,733

118,268

105,639

76,589

80,657

67,763

71,323

78,407

81,187

85,931

90,572

Income taxes

2,490

2,661

5,010

1,212

5,104

2,066

3,678

-1,354

-2,198

-16,895

2,896

SUPPLEMENTAL DISCLOSURE OF SALE OF SUBSIDIARY:
Decrease in carrying amount of assets

-101,448

-

-

-

-

-

-

-

-

-

-

Decrease in carrying amount of liabilities

-68,341

-

-

-

-

-

-

-

-

-

-

Cash received from buyers

79,632

-

-

-

-

-

-

-

-

-

-

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

340,099

280,372

428,907

-161,586

117,817

-24,154

58,956

51,157

-27,335

96,350

83,658

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

368,098

334,589

292,768

284,969

264,507

259,642

245,005

251,958

254,182

236,499

221,548

Stock based compensation expense

10,300

13,105

10,600

7,568

5,368

5,318

4,363

4,693

5,365

6,428

7,944

Gain on sale of subsidiary

46,525

-

-

-

-

-

-

-

-

-

-

Gain on sale of subsidiary

46,525

-

-

-

-

-

-

-

-

-

-