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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 280,372 $ 428,907 $ (161,586)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 334,589 292,768 [1] 284,969 [1]
Stock based compensation expense 13,105 10,580 7,568
Gain from early extinguishment of debt     (1,279)
Special items [1]     465,649
Net increase (decrease) in deferred income taxes 99,139 (145,517) (83,441)
Changes in operating assets and liabilities:      
Decrease (increase) in restricted cash   8,243 (27)
Decrease (increase) in receivables (21,464) 4,201 15,260
Decrease (increase) in income tax receivable (20,620) 1,673 (4,118)
Increase in inventories (7,935) (1,246) (1,986)
Decrease in other current assets 77,484 26,017 37,569
Decrease in deferred aircraft credits (14,243) (8,520) (8,108)
Increase (decrease) in accounts payable and accrued aircraft rents 56,076 46,934 (47,563)
Increase in other current liabilities 6,031 20,084 3,758
NET CASH PROVIDED BY OPERATING ACTIVITIES 802,534 684,124 506,665
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of marketable securities (2,308,768) (1,533,867) (2,511,388)
Sales of marketable securities 2,451,344 1,440,283 2,388,168
Proceeds from the sale of aircraft, property and equipment   51,994 3,008
Proceeds from settlement of residual value guarantee aircraft agreements     90,000
Acquisition of property and equipment:      
Aircraft and rotable spare parts (1,062,380) (661,176) (1,138,963)
Deposits on aircraft (41,937) (46,733) (650)
Buildings and ground equipment (34,397) (27,467) (14,350)
Return of deposits applied towards acquired aircraft 49,550 36,533  
Decrease (increase) in other assets (36,816) (10,904) 7,097
NET CASH USED IN INVESTING ACTIVITIES (983,404) (751,337) (1,177,078)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of long-term debt 784,665 471,677 926,069
Principal payments on long-term debt (370,775) (330,258) (302,158)
Proceeds from issuance of common stock 5,212 4,660 8,142
Purchase of treasury stock (54,448) (20,008)  
Employee income tax paid on vested equity awards (13,556) (5,080)  
Decrease (increase) in debt issuance cost (3,892) (3,737) (8,653)
Payment of cash dividends (19,744) (15,015) (9,256)
NET CASH PROVIDED BY FINANCING ACTIVITIES 327,462 102,239 614,144
Increase (decrease) in cash and cash equivalents 146,592 35,026 (56,269)
Cash and cash equivalents at beginning of period 181,792 146,766 203,035
CASH AND CASH EQUIVALENTS AT END OF PERIOD 328,384 181,792 146,766
Non-cash investing activities:      
Acquisition of rotable spare parts 367 755 5,688
Debt assumed on aircraft acquired off lease 59,132    
Cash paid during the period for:      
Interest, net of capitalized amounts 118,268 105,639 76,589
Income taxes $ 2,661 $ 5,010 $ 1,212
[1] Amounts adjusted due to the adoption of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). See Note 1 to the financial statements of this report for additional information.