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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
OPERATING REVENUES:        
Total operating revenues $ 799,085 $ 656,990 $ 1,534,237 $ 1,191,545
OPERATING EXPENSES:        
Salaries, wages and benefits 288,562 233,423 588,620 453,265
Aircraft maintenance, materials and repairs 174,883 190,879 323,296 394,706
Depreciation and amortization 97,249 109,895 199,994 219,492
Aircraft fuel 31,820 25,867 56,910 45,061
Airport-related expenses 17,490 22,038 36,695 46,486
Aircraft rentals 16,024 15,723 32,020 31,213
Payroll support grant   (114,144)   (307,317)
Other operating expenses 84,455 58,286 156,052 112,774
Total operating expenses 710,483 541,967 1,393,587 995,680
OPERATING INCOME 88,602 115,023 140,650 195,865
OTHER INCOME (EXPENSE):        
Interest income 2,559 210 2,984 494
Interest expense (30,433) (33,940) (59,025) (65,294)
Other income, net 12,019 80 12,899 296
Total other expense, net (15,855) (33,650) (43,142) (64,504)
INCOME BEFORE INCOME TAXES 72,747 81,373 97,508 131,361
PROVISION FOR INCOME TAXES 18,796 19,379 25,823 33,467
NET INCOME $ 53,951 $ 61,994 $ 71,685 $ 97,894
BASIC EARNINGS PER SHARE (in dollars per share) $ 1.07 $ 1.23 $ 1.42 $ 1.95
DILUTED EARNINGS PER SHARE (in dollars per share) $ 1.07 $ 1.22 $ 1.42 $ 1.93
Weighted average common shares:        
Basic (in shares) 50,522 50,346 50,501 50,316
Diluted (in shares) 50,566 50,725 50,637 50,727
COMPREHENSIVE INCOME:        
Net income $ 53,951 $ 61,994 $ 71,685 $ 97,894
Net unrealized depreciation on marketable securities, net of taxes (1,945)   (1,945)  
TOTAL COMPREHENSIVE INCOME 52,006 61,994 69,740 97,894
Flying agreements        
OPERATING REVENUES:        
Total operating revenues 773,774 632,967 1,481,837 1,144,158
Lease, airport services and other        
OPERATING REVENUES:        
Total operating revenues $ 25,311 $ 24,023 $ 52,400 $ 47,387