SkyWest Airlines 2014 Annual Report Download - page 76
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SKYWEST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
DECEMBER 31, 2014
(1) Nature of Operations and Summary of Significant Accounting Policies (Continued)
specific identification method, is recognized in other income and expense. The Company’s position in
marketable securities as of December 31, 2014 and 2013 was as follows (in thousands):
Gross Gross
unrealized unrealized Fair
Amortized holding holding market
At December 31, 2014 Cost gains losses value
Total cash and cash equivalents .................... $132,275 $— $ — $132,275
Available-for-sale securities:
Bond and bond funds ........................ $410,618 $ 9 $(464) $410,163
Asset backed securities ....................... 5,108 3 (1) 5,110
Total available-for-sale securities .................. $415,726 $12 $(465) $415,273
Total cash and cash equivalents and available for sale
securities ................................... $548,001 $12 $(465) $547,548
Gross Gross
unrealized unrealized Fair
Amortized holding holding market
At December 31, 2013 Cost gains losses value
Total cash and cash equivalents .................... $170,636 $ — $— $170,636
Available-for-sale securities:
Bond and bond funds ........................ $486,571 $487 $(9) $487,049
Asset backed securities ....................... 182 8 — 190
Total available-for-sale securities .................. 486,753 495 $(9) 487,239
Total cash and cash equivalents and available for sale
securities ................................... $657,389 $495 $(9) $657,875
Marketable securities had the following maturities as of December 31, 2014 (in thousands):
Maturities Amount
Year 2015 ............................................... $233,858
Years 2016 through 2019 .................................... 181,406
Years 2020 through 2027 .................................... —
Thereafter ............................................... 2,317
As of December 31, 2014 and 2013, the Company had classified $415.3 million and $487.2 million
of marketable securities, respectively, as short-term since it had the intent to maintain a liquid portfolio
and the ability to redeem the securities within one year. The Company has classified approximately
$2.3 million and $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, 2014 and 2013, respectively (see
Note 7).
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