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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 340,099 $ 280,372 $ 428,907
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 368,098 334,589 292,768
Stock based compensation expense 10,274 13,105 10,580
Gain on sale of subsidiary (46,525)    
Special items 21,869    
Net increase (decrease) in deferred income taxes 109,654 99,139 (145,517)
Changes in operating assets and liabilities:      
Decrease in restricted cash     8,243
Decrease (increase) in receivables (40,700) (21,464) 4,201
Decrease (increase) in income tax receivable 14,795 (20,620) 1,673
Increase in inventories (4,303) (7,935) (1,246)
Decrease in other current assets 2,707 77,484 26,017
Increase in operating lease right-of-use asset (895)    
Decrease in deferred aircraft credits   (14,243) (8,520)
Increase (decrease) in accounts payable and other current liabilities (54,043) 62,107 67,018
NET CASH PROVIDED BY OPERATING ACTIVITIES 721,030 802,534 684,124
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of marketable securities (1,938,750) (2,308,768) (1,533,867)
Sales of marketable securities 1,866,761 2,451,344 1,440,283
Net cash received from sale of subsidiary 53,200    
Acquisition of property and equipment:      
Aircraft and rotable spare parts (581,329) (1,062,380) (661,176)
Buildings and ground equipment (80,586) (34,397) (27,467)
Proceeds from the sale of aircraft, property and equipment 26,008   51,994
Deposits on aircraft (52,817) (41,937) (46,733)
Return of deposits applied towards acquired aircraft 46,346 49,550 36,533
Decrease (increase) in other assets 4,133 (36,816) (10,904)
NET CASH USED IN INVESTING ACTIVITIES (657,034) (983,404) (751,337)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of long-term debt 200,040 784,665 471,677
Principal payments on long-term debt (382,442) (370,775) (330,258)
Proceeds from issuance of common stock 6,271 5,212 4,660
Purchase of treasury stock (78,476) (54,448) (20,008)
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)
Payment of cash dividends (23,467) (19,744) (15,015)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (305,174) 327,462 102,239
Increase (decrease) in cash and cash equivalents (241,178) 146,592 35,026
Cash and cash equivalents at beginning of period 328,384 181,792 146,766
CASH AND CASH EQUIVALENTS AT END OF PERIOD 87,206 328,384 181,792
Non-cash investing activities:      
Acquisition of rotable spare parts 16,514 367 755
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
Income taxes 2,490 $ 2,661 $ 5,010
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    
Gain on sale of subsidiary $ 46,525