Airtran 2005 Annual Report Download - page 28

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Year ended December 31,
(In thousands) 2005 2004 2003
Operating activities : :
Net income $ 1,722 $ 12,255 $100,517
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 22,160 15,982 15,741
Amortization of deferred gains from sales/leaseback of aircraft (4,385) (4,385) (4,961)
Provisions for uncollectible accounts 516 709 510
Deferred debt discount/issuance cost —— 12,257
Loss on asset disposal 2,307 256 —
Deferred income taxes 1,200 7,618 (13,608)
Stock-based compensation 3,513 2,460
Other 80 113 —
Changes in current operating assets and liabilities:
Restricted cash (11,589) 1,944 24,375
Accounts receivable (10,935) (2,631) 1,156
Inventories 17,061 (9,446) (10,961)
Other assets (37,402) (18,431) (15,234)
Accounts payable, accrued and other liabilities 52,781 22,850 1,888
Air traffic liability 27,586 8,825 21,566
Net cash provided by operating activities 64,615 38,119 133,246
Investing activities : :
Purchases of property and equipment (35,359) (26,449) (20,802)
Aircraft purchase deposits payments (71,692) (19,842) (44,447)
Purchases of available-for-sale securities (829,100) (26,975) —
Sales of available-for-sale-securities 856,000 ——
Net cash used for investing activities (80,151) (73,266) (65,249)
Financing activities : :
Issuance of long-term debt 96,690 — 125,582
Debt issuance costs (4,610) (1,163) (3,918)
Payments on long-term debt (24,561) (5,879) (90,467)
Buy back of detachable stock purchase warrants —— (11,690)
Proceeds from sale of common stock, net of expenses 11,096 10,975 147,052
Net cash provided by financing activities 78,615 3,933 166,559
Net increase (decrease) in cash and cash equivalents 63,079 (31,214) 234,556
Cash and cash equivalents at beginning of year 307,493 338,707 104,151
Cash and cash equivalents at end of year $ 370,572 $307,493 $338,707
See accompanying notes to consolidated financial statements.
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AIRTRAN HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS