SkyWest Airlines 2013 Annual Report Download - page 83
Download and view the complete annual report
Please find page 83 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)
security investments, the creditworthiness of the counterparty, the timing of expected future cash flows,
and the expectation of the next time the security is expected to have a successful auction. The fair
value of the Company’s long-term debt is estimated based on current rates offered to the Company for
similar debt and was approximately $1,509.2 million as of December 31, 2013, as compared to the
carrying amount of $1,470.6 million as of December 31, 2013. The Company’s fair value of long-term
debt as of December 31, 2012 was $1,744.2 million as compared to the carrying amount of
$1,642.0 million as of December 31, 2012.
Segment Reporting
Generally accepted accounting principles require disclosures related to components of a company
for which separate financial information is available to, and regularly evaluated by, the Company’s chief
operating decision maker when deciding how to allocate resources and in assessing performance. The
Company’s two operating segments consist of the operations conducted by its two subsidiaries, SkyWest
Airlines and ExpressJet. Information pertaining to the Company’s reportable segments is presented in
Note 2, Segment Reporting.
(2) Segment Reporting
Generally accepted accounting principles require disclosures related to components of a company
for which separate financial information is available to, and regularly evaluated by, the Company’s chief
operating decision maker (‘‘CODM’’) when deciding how to allocate resources and in assessing
performance.
The Company’s two operating segments consist of the operations conducted by its two subsidiaries,
SkyWest Airlines and ExpressJet. On December 31, 2011, ExpressJet Delaware and Atlantic Southeast
merged through the ExpressJet Combination. As a result of the ExpressJet Combination, ExpressJet
became a reportable segment. Prior year amounts have been revised to conform to the current year
segment presentation. The results of operation of ExpressJet Delaware and Atlantic Southeast for
periods prior to the ExpressJet Combination are combined under the ExpressJet segment. Corporate
overhead expense incurred by the Company is allocated to the operating expenses of its two operating
subsidiaries.
78