SkyWest Airlines 2013 Annual Report Download - page 75
Download and view the complete annual report
Please find page 75 of the 2013 SkyWest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
SKYWEST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
DECEMBER 31, 2013
(1) Nature of Operations and Summary of Significant Accounting Policies (Continued)
identification method, is recognized in other income and expense. The Company’s position in
marketable securities as of December 31, 2013 and 2012 was as follows (in thousands):
2013 2012
Investment Types Cost Market Value Cost Market Value
Commercial paper ............. $ — $ — $ 3,510 $ 3,514
Bond and bond funds .......... 489,071 489,294 555,603 556,133
Asset backed securities ......... 182 190 296 314
489,253 489,484 559,409 559,961
Unrealized appreciation ......... 231 — 552 —
Total ....................... 489,484 489,484 $559,961 $559,961
Marketable securities had the following maturities as of December 31, 2013 (in thousands):
Maturities Amount
Year 2014 ............................................... $304,353
Years 2015 through 2018 .................................... 182,873
Years 2019 through 2023 .................................... —
Thereafter ............................................... 2,258
As of December 31, 2013, the Company had classified $487.2 million of marketable securities as
short-term since it has the intent to maintain a liquid portfolio and the ability to redeem the securities
within one year. The Company has classified approximately $2.2 million of investments as non-current
and has identified them as ‘‘Other assets’’ in the Company’s consolidated balance sheet as of
December 31, 2013 (see Note 7).
Inventories
Inventories include expendable parts, fuel and supplies and are valued at cost (FIFO basis) less an
allowance for obsolescence based on historical results and management’s expectations of future
operations. Expendable inventory parts are charged to expense as used. An obsolescence allowance for
flight equipment expendable parts is accrued based on estimated lives of the corresponding fleet types
and salvage values. The inventory allowance as of December 31, 2013 and 2012 was $10.1 million and
$9.2 million, respectively. These allowances are based on management estimates, which are subject to
change.
70