Airtran 2004 Annual Report Download - page 20

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2004 Annual Report
20
(In thousands, except per share data)
December 31, 2004 2003
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $307,493 $338,707
Restricted cash 7,854 9,798
Short-term investments 26,975 —
Accounts receivable, less allowance of $627 and $603 at
December 31, 2004 and 2003, respectively 19,376 17,454
Inventories, less allowance for obsolescence of $987 and $733 at
December 31, 2004 and 2003, respectively 28,311 19,345
Deferred income taxes — current 7,442 52,054
Prepaid expenses and other current assets 14,613 15,209
Total current assets 412,064 452,567
PROPERTY AND EQUIPMENT:
Flight equipment 294,966 229,927
Less: Accumulated depreciation (34,036) (26,610)
260,930 203,317
Purchase deposits for flight equipment 69,833 49,991
Other property and equipment 82,854 45,425
Less: Accumulated depreciation (29,682) (22,272)
53,172 23,153
Total property and equipment 383,935 276,461
OTHER ASSETS:
Intangibles resulting from business acquisition 8,350 8,350
Trademarks and trade names 21,567 21,567
Debt issuance costs 7,607 7,293
Deferred income taxes—noncurrent 16,708 —
Other assets 55,500 42,126
TOTAL ASSETS $905,731 $808,364
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 20,988 $ 18,498
Accrued and other liabilities 85,047 69,233
Air traffic liability 87,571 78,746
Current portion of lease obligations 886 627
Current portion of long-term debt 12,950 4,388
Total current liabilities 207,442 171,492
Long-term lease obligations 14,559 796
Long-term debt 285,575 241,025
Deferred income taxes —26,100
Other liabilities 64,119 66,738
STOCKHOLDERS’ EQUITY:
Preferred stock, $.01 par value per share, 5,000 shares authorized, no shares
issued or outstanding ——
Common stock, $.001 par value per share, 1,000,000 shares authorized, and
86,617 and 84,209 shares issued and outstanding at December 31, 2004
and 2003, respectively 87 84
Additional paid-in capital 361,063 337,145
Unearned compensation (4,624) —
Accumulated other comprehensive loss —(271)
Accumulated deficit (22,490) (34,745)
Total stockholders’ equity 334,036 302,213
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $905,731 $808,364
See accompanying notes to consolidated financial statements.
AirTran Holdings, Inc. Consolidated Balance Sheets