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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net earnings from continuing operations $ 196,438 $ 228,980 $ 25,079
Net earnings from discontinued operations 2,143 2,440 7,036
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 355,848 341,849 310,317
Pension and post-retirement 2,675 7,244 3,888
Deferred income taxes 54,862 70,544 18,492
Amortization of stock-based compensation 8,342 7,386 7,477
Loss from non-consolidated affiliates 7,607 2,577 13,587
Net (gain) loss on financial instruments (9,022) (29,979) 100,771
Debt issuance costs 0 6,505 0
Impairment of aircraft and related assets 0 0 39,075
Changes in assets and liabilities:      
Accounts receivable (96,223) (51,888) 9,359
Inventory and prepaid supplies (18,981) (3,123) (27,825)
Accounts payable 6,047 30,388 5,584
Unearned revenue (26,430) (7,011) 36,922
Accrued expenses, salaries, wages, benefits and other liabilities 14,755 10,059 (5,226)
Pension and post-retirement balances (24,258) (26,884) (28,198)
Other (1,683) (5,530) (4,036)
NET CASH PROVIDED BY OPERATING ACTIVITIES 472,120 583,557 512,302
INVESTING ACTIVITIES:      
Expenditures for property and equipment (599,431) (504,748) (510,417)
Proceeds from property and equipment 15,913 19,427 24,583
Acquisitions and investments in businesses, net of cash acquired (16,545) (2,155) (13,333)
NET CASH (USED IN) INVESTING ACTIVITIES (600,063) (487,476) (499,167)
FINANCING ACTIVITIES:      
Principal payments on long term obligations (365,628) (1,900,311) (689,380)
Proceeds from revolving credit facilities 625,000 1,500,600 180,000
Payments for financing costs (1,803) (3,099) (7,507)
Proceeds from bond issuance 0 207,400 500,000
Repurchase of senior unsecured notes (115,204) 0 0
Proceeds from issuance of warrants 0 131,967 0
Purchase of common stock (53,868) 0 0
Withholding taxes paid for conversion of employee stock awards (2,916) (2,861) (2,730)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES 85,581 (66,304) (19,617)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (42,362) 29,777 (6,482)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 69,496 39,719 46,201
CASH AND CASH EQUIVALENTS AT END OF YEAR 27,134 69,496 39,719
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest paid, net of amount capitalized 47,194 43,696 41,343
Federal and state income taxes paid 6,205 3,431 1,139
SUPPLEMENTAL NON-CASH INFORMATION:      
Accrued expenditures for property and equipment $ 56,433 $ 43,479 $ 37,880