Company name:

Spirit Airlines Inc

  • IPO SHARE PRICE:
    $12.00
  • IPO DATE:
    26 May 2011
  • TICKER:
    SAVE
  • MAIN STOCK EXCHANGE:
    NASDAQ
  • CURRENT HQ LOCATION:
    2800 Executive Way Miramar Florida 33025
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    DE
  • ORGANIZED AS THE FOLLOWING LEGAL TYPE:
    Corporation
  • Investor Relations Webpage:
    Coming soon!
  • TAX RATE:
    USA federal corporate nominal income tax rate is 21%

Short Description

Spirit Airlines Inc

We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com

Balance Sheet

Quarterly Annual
(USD in thousand)
21.3%
Selected Year:
31-Dec
2020
Current Assets
Most valuable part of Current Assets is Cash and Marketable Securities which should be watched carefully; at the same time high and growing level of Accounts Receivables is very dangerous sign
28.1%
21.3% —

Cash and cash equivalents

1.8% —

Income tax receivable

1.5% —

Prepaid expenses and other current assets

1.3% —

Short-term passive investments

0.9% —

Aircraft maintenance deposits

0.9% —

Restricted cash and cash equivalents

0.5% —

Accounts Receivable

Liquidity
Selected Year:
The most liquid asset, however, most companies don't keep much of it and invest excess cash into marketable securities such as Government bonds - in the US - Treasuries
Cash and cash equivalents
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $800,849 $1,004,733 $978,957 $1,789,723
Short-term passive investments
-
-
-
-
-
$45,679
$45,679
 100,937 102,789 105,321 106,339
Restricted cash and cash equivalents
$45,679
-
-
-
-
-
-
 - - - 71,401
Accounts Receivable
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 49,323 47,660 73,807 42,940
Income tax receivable
-
-
-
-
-
-
$45,679
 69,844 - 21,013 147,460
Deferred tax assets
$45,679
$45,679
$45,679
$45,679
-
-
-
 - - - -
Prepaid income taxes
-
-
-
-
$45,679
$45,679
-
 - - - -
Prepaid expenses and other current assets
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
 85,542 83,383 103,439 124,983
Aircraft maintenance deposits
-
-
-
-
$45,679
$45,679
$45,679
 175,615 106,901 102,906 73,134
Other short-term assets
$45,679
$45,679
-
-
-
-
-
 - - - -
Total current assets
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $1,282,110 $1,345,466 $1,385,443 $2,355,980
49.7% 4.0% 16.9% 4.1% 4.2%
Selected Year:
31-Dec
2020
Non-Current Assets
Non-current assets characterize company's business: high Property, Plant, and Equipment means that company is in capital-intensive industry which typically is very cyclical (earnings fluctuate a lot); watch out for high level of Goodwill and other non-intangibles which is bad sign as they typically worth very low relative to their value shown on the balance sheet
80.0%
49.7% —

Flight equipment

16.9% —

Operating lease - right-of-use assets

4.2% —

Pre-delivery deposits on flight equipment

4.1% —

Deferred heavy maintenance

4.0% —

Ground property and equipment

0.6% —

Long-term aircraft maintenance deposits

0.4% —

Other long-term assets
Selected Year:
Deposits on flight equipment purchase contracts
45,679
45,679
45,679
45,679
45,679
45,679
45,679
 - - - -
Long-term aircraft maintenance deposits
-
-
-
-
45,679
45,679
45,679
 150,617 138,738 67,682 53,158
Flight equipment
45,679
45,679
45,679
45,679
45,679
45,679
45,679
 2,291,110 3,257,215 3,730,751 4,177,631
Ground property and equipment
-
-
-
-
-
45,679
45,679
 155,166 191,661 291,998 334,167
Ground and other equipment
45,679
45,679
45,679
45,679
45,679
-
-
 - - - -
Accumulated depreciation
45,679
45,679
45,679
45,679
45,679
45,679
45,679
 (207,808) (332,864) (492,447) (680,230)
Operating lease - right-of-use assets
-
-
-
-
-
-
-
 - - 1,369,555 1,417,823
Deferred tax assets
45,679
-
-
-
-
-
-
 - - - -
Deferred heavy maintenance
-
-
45,679
45,679
45,679
45,679
45,679
 99,915 249,010 361,603 347,907
Deferred heavy maintenance and other long-term assets
-
45,679
-
-
-
-
-
 - - - -
Prepaid aircraft maintenance to lessors
45,679
-
-
-
-
-
-
 - - - -
Security deposits and other long-term assets
45,679
-
-
-
-
-
-
 - - - -
Aircraft maintenance deposits
-
45,679
45,679
45,679
-
-
-
 - - - -
Pre-delivery deposits on flight equipment
-
-
-
-
-
-
-
 253,687 236,775 291,930 356,262
Other long-term assets
-
-
45,679
45,679
45,679
45,679
45,679
 121,003 79,456 36,897 36,127
Total non-current assets
45,679
45,679
45,679
45,679
45,679
45,679
45,679
 3,071,498 4,152,855 6,150,416 6,723,075
Total assets
45,679
45,679
45,679
45,679
45,679
45,679
45,679
 $4,145,800 $5,165,457 $7,043,412 $8,398,825
4.8% 4.7% 4.6% 5.2% 36.5% 14.9% 18.2% 9.5%
Selected Year:
31-Dec
2020
Current Liabilities
Current Liabilities represent company's short-term dues to others. The most important part to watch for is short-term debt and accounts payables
16.0%
4.8% —

Air traffic liability

4.7% —

Other current liabilities

4.6% —

Long-term debt and finance leases

1.6% —

Current portion of Operating leases

0.3% —

Accounts payable
Selected Year:
Accounts payable
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $22,822 $39,320 $43,601 $28,454
Air traffic liability
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 263,711 291,981 315,408 401,966
Current maturities of long-term debt
-
-
-
$45,679
$45,679
$45,679
$45,679
 - - - -
Long-term debt and capital leases
-
-
-
-
-
-
-
 115,430 - - -
Long-term debt and finance leases
-
-
-
-
-
-
-
 - 163,557 258,852 384,197
Long-term debt and obligations to related parties
$45,679
-
-
-
-
-
-
 - - - -
Current portion of Operating leases
-
-
-
-
-
-
-
 - - 120,662 133,791
Other current liabilities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 262,370 339,677 373,521 393,614
Total current liabilities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $664,333 $834,535 $1,112,044 $1,342,022
Selected Year:
31-Dec
2020
Non-Current Liabilities
The most critical items are revolving credit facility, term loans, and then notes - any forms of debt; in addition, pay attention to items like pension liabilites and leases- hidden debt
57.2%
36.5% —

Long-term debt and finance lease obligations

14.9% —

Operating leases

5.2% —

Deferred tax liability

0.6% —

Deferred gains and other long-term liabilities
Selected Year:
Due to related parties
$45,679
-
-
-
-
-
-
 - - - -
Deferred tax liability
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 308,814 355,141 469,292 439,894
Deferred gains and other long-term liabilities
-
-
-
$45,679
$45,679
$45,679
$45,679
 22,581 22,503 22,277 52,060
Deferred credits and other long-term liabilities
$45,679
$45,679
$45,679
-
-
-
-
 - - - -
Mandatorily redeemable preferred securities
$45,679
-
-
-
-
-
-
 - - - -
Long-term debt
$45,679
-
-
$45,679
$45,679
$45,679
$45,679
 - - - -
Long-term debt and finance lease obligations
-
-
-
-
-
-
-
 - 2,024,774 1,960,453 3,066,635
Long-term debt and capital leases
-
-
-
-
-
-
-
 1,387,498 - - -
Operating leases
-
-
-
-
-
-
-
 - - 1,218,014 1,248,519
Total long-term liabilities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $1,718,893 $2,402,418 $3,670,036 $4,807,108
Total Liabilities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $2,383,226 $3,236,953 $4,782,080 $6,149,130
Selected Year:
31-Dec
2020
Equity
It's residue that is owned by shareholders after satisfying all of the liabilities with all of the assets; the larger the amount, the better the business is
26.8%
18.2% —

Retained earnings

9.5% —

Additional paid-in capital

0.0% —

Common stock
Selected Year:
Common stock
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $7 $7 $7 $10
Non-voting common stock
$45,679
$45,679
$45,679
$45,679
-
-
-
 - - - -
Common stock Class A
$45,679
-
-
-
-
-
-
 - - - -
Common stock Class B
$45,679
-
-
-
-
-
-
 - - - -
Treasury Stock
-
-
-
-
-
-
-
 - - (72,455) -
Treasury Stock at cost
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (65,854) (67,016) (72,455) (74,124)
Retained earnings
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 1,469,732 1,625,481 1,955,187 1,524,878
Accumulated deficit
$45,679
-
-
-
-
-
-
 - - - -
Additional paid-in capital
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 360,153 371,225 379,380 799,549
Accumulated other comprehensive (loss) income
-
-
-
$45,679
-
-
-
 (1,464) (1,193) (787) (618)
Accumulated other comprehensive loss
-
-
-
-
$45,679
$45,679
$45,679
 - - - -
Total Equity
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $1,762,574 $1,928,504 $2,261,332 $2,249,695
Total Liabilities and Equity
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $4,145,800 $5,165,457 $7,043,412 $8,398,825