Spirit Airlines, Inc. (SAVE) Financial Statements (2024 and earlier)

Company Profile

Business Address 2800 EXECUTIVE WAY
MIRAMAR, FL 33025
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4512 - Air Transportation, Scheduled (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,220,1821,396,0681,453,4651,059,6831,302,9851,353,926
Cash and cash equivalents1,110,6881,287,7111,346,350953,4281,197,0651,247,913
Short-term investments109,494108,357107,115106,255105,920106,013
Restricted cash and investments119,400119,400119,39295,40095,40095,400
Receivables36,26136,26136,26136,36337,89037,890
Other undisclosed current assets396,991366,354384,865359,107325,579342,246
Total current assets:1,772,8341,918,0831,993,9831,550,5531,761,8541,829,462
Noncurrent Assets
Operating lease, right-of-use asset3,058,1372,859,8292,699,5742,332,8082,198,7912,044,306
Property, plant and equipment3,740,5003,738,6823,749,4983,881,1373,858,4183,852,559
Other noncurrent assets39,01759,61063,81738,27137,50737,098
Other undisclosed noncurrent assets761,639746,113677,902882,726858,453848,292
Total noncurrent assets:7,599,2937,404,2347,190,7917,134,9426,953,1696,782,255
TOTAL ASSETS:9,372,1279,322,3179,184,7748,685,4958,715,0238,611,717
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities76,15853,04675,449112,00776,04847,422
Accounts payable76,15853,04675,449112,00776,04847,422
Deferred revenue479,677566,856429,618495,815561,705558,303
Debt235,579261,724346,888353,937351,521294,003
Other liabilities693,211675,944556,330531,158578,663546,733
Other undisclosed current liabilities201,337195,039188,296175,614169,195164,814
Total current liabilities:1,685,9621,752,6091,596,5811,668,5311,737,1321,611,275
Noncurrent Liabilities
Long-term debt and lease obligation, including:3,081,1923,164,0613,200,3762,657,8302,696,2012,801,759
Long-term debt, excluding current maturities3,080,7003,163,6003,200,2002,657,6002,695,5002,801,200
Finance lease, liability339410359434535634
Other undisclosed long-term debt and lease obligation15351(183)(2,104,688)(1,981,301)(1,835,381)
Liabilities, other than long-term debt2,999,2332,794,0652,682,462297,875310,351325,761
Deferred income tax liabilities205,796189,054226,843297,875310,351325,761
Operating lease, liability2,793,4372,605,0112,455,6192,104,4841,981,4671,835,306
Total noncurrent liabilities:6,080,4255,958,1265,882,8382,955,7053,006,5523,127,520
Total liabilities:7,766,3877,710,7357,479,4194,624,2364,743,6844,738,795
Equity
Equity, attributable to parent1,471,0721,469,8461,571,6511,839,7771,873,2151,921,376
Common stock111111111111
Treasury stock, value(79,672)(79,671)(77,998)(77,446)(77,416)(77,411)
Additional paid in capital1,153,0681,149,5881,146,0151,143,0761,140,2541,135,872
Accumulated other comprehensive loss(294)(390)(596)(747)(894)(762)
Retained earnings397,959400,308504,219774,883811,260863,666
Total equity:1,471,0721,469,8461,571,6511,839,7771,873,2151,921,376
Other undisclosed liabilities and equity134,668141,736133,7042,221,4822,098,1241,951,546
TOTAL LIABILITIES AND EQUITY:9,372,1279,322,3179,184,7748,685,4958,715,0238,611,717

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues1,432,4721,349,7741,391,3101,343,1791,366,643967,315
Cost of revenue
(Cost of Goods and Services Sold)
(106,487)(97,345)(77,137)(95,174)(92,021)(82,936)
Gross profit:1,325,9851,252,4291,314,1731,248,0051,274,622884,379
Operating expenses(1,412,261)(1,462,169)(1,697,039)(1,379,569)(1,411,973)(1,178,783)
Other undisclosed operating income106,48797,34577,13795,17492,02182,936
Operating income (loss):20,211(112,395)(305,729)(36,390)(45,330)(211,468)
Nonoperating expense(5,239)(29,253)(34,568)(12,504)(22,182)(32,568)
Investment income, nonoperating15,96215,43411,4135,6422,561467
Interest and debt expense(8)(10)(139,858)(13)(16)(18)
Income (loss) from continuing operations before equity method investments, income taxes:14,964(141,658)(480,155)(48,907)(67,528)(244,054)
Other undisclosed income from continuing operations before income taxes810139,858131618
Income (loss) from continuing operations before income taxes:14,972(141,648)(340,297)(48,894)(67,512)(244,036)
Income tax expense (benefit)(17,321)37,73769,63312,51715,10649,333
Loss from continuing operations:(2,349)(103,911)(270,664)(36,377)(52,406)(194,703)
Loss before gain (loss) on sale of properties:(36,377)(52,406)(194,703)
Net loss available to common stockholders, diluted:(2,349)(103,911)(270,664)(36,377)(52,406)(194,703)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(2,349)(103,911)(270,664)(36,377)(52,406)(194,703)
Other comprehensive income (loss)96206 147(132)(230)
Other undisclosed comprehensive loss   (64)   
Comprehensive loss:(2,253)(103,705)(270,728)(36,230)(52,538)(194,933)
Other undisclosed comprehensive income, net of tax, attributable to parent   215   
Comprehensive loss, net of tax, attributable to parent:(2,253)(103,705)(270,513)(36,230)(52,538)(194,933)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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