SkyWest Airlines 2009 Annual Report Download - page 60

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Auction Rate Securities
We have investments in auction rate securities, which are classified as available for sale securities
and reflected at fair value. Due primarily to instability in credit markets over the past two years, we
sold a portion of these investments. As of December 31, 2009, we had investments valued at a total of
$4.3 million which were classified as Other assets on our consolidated balance sheet. For a more
detailed discussion on auction rate securities, including our methodology for estimating their fair value,
see Note 6 to our consolidated financial statements appearing in Item 8 of this Report.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The information set forth below should be read together with the ‘‘Management’s Discussion and
Analysis of Financial Condition and Results of Operations,’’ appearing elsewhere herein.
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