Summary of Financial Statement Preparation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Depreciable Lives

Depreciable lives are summarized as follows:

Boeing 777, 767 and 757 aircraft and flight equipment	7 to 18 years
Ground equipment	2 to 10 years
Leasehold improvements, facilities and office equipment	3 to 25 years

Property and equipment, to be held and used, is summarized as follows (in thousands):

	December 31, 2022		December 31, 2021
Flight equipment	$	3,506,134	$	3,301,113
Ground equipment	70,092		64,641
Leasehold improvements, facilities and office equipment	40,183		38,769
Aircraft modifications and projects in progress	445,633		206,917
	4,062,042		3,611,440
Accumulated depreciation	(1,659,634)		(1,481,506)
Property and equipment, net	$	2,402,408	$	2,129,934

Accounting Standards Update and Change in Accounting Principle

The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective approach which resulted in the following adjustments:

(in thousands)	December 31, 2021		Adoption of ASU 2020-06		January 1, 2022
Balance Sheet line item:
Principal value	$	(258,750)	$	—	$	(258,750)
Unamortized issuance cost	$	2,889	$	—	$	2,889
Unamortized discount	$	24,215	$	(24,215)	$	—
Convertible Debt	$	(231,646)	$	(24,215)	$	(255,861)
Net deferred tax liability	$	(217,291)	$	5,527	$	(211,764)
Additional paid-in capital	$	(1,074,286)	$	39,559	$	(1,034,727)
Retained earnings	$	(309,430)	$	(20,871)	$	(330,301)