Airtran 2007 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 of the 2007 Airtran annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

43
AirTran Holdings, Inc.
Consolidated Statements of Cash Flows
(In thousands)
Year ended Decembe
r
31
,
2007 2006 2005
Operating activities:
Net income........................................................................................................... $ 52,683 $ 14,714 $ 7,545
Adjustments to reconcile net income to net cash provided by operating
activities:.....................................................................................................
Depreciation and amortization ..................................................................... 50,842 31,700 22,160
Amortization of deferred gains from sales/leaseback of aircraft .................... (4,887) (4,407) (4,385)
Midwest exchange offer expenses................................................................ 10,650 — —
Provisions for uncollectible accounts ........................................................... 1,407 1,619 516
(Gain) loss on asset disposals....................................................................... (4,811) 4,387 2,307
Loss on investments .................................................................................... 1,148 — —
Deferred income taxes................................................................................. 34,464 9,943 4,635
Stock-based compensation........................................................................... 5,403 4,443 3,513
Other non-cash items................................................................................... — 133 80
Changes in certain operating assets and liabilities:........................................
Restricted cash........................................................................................ (4,803) (5,372) (11,589)
Accounts receivable ................................................................................ (5,566) (10,437) (10,935)
Spare parts, materials and supplies .......................................................... (3,284) (1,248) (4,343)
Prepaid and stored fuel............................................................................ (27,161) (1,835) 14,397
Prepaid aircraft rent ................................................................................ (11,892) (12,986) (14,433)
Other assets ............................................................................................ (22,921) (20,934) (22,969)
Accounts payable, accrued and other liabilities........................................ 46,477 26,809 52,596
Air traffic liability................................................................................... 64,330 38,597 25,520
Net cash provided by operating activities .......................................................... 182,079 75,126 64,615
Investing activities:
Purchases of available-for-sale securities.......................................................... (2,040,593 (2,540,215 (829,100)
Sales of available-for-sale-securities................................................................. 2,071,195 2,389,190 856,000
Purchases of property and equipment ............................................................... (176,020) (119,113) (35,359)
Return (payment) of aircraft purchase deposits, net........................................... 78 13,635 (71,692)
Proceeds and deposit from sale of aircraft......................................................... 72,879 5,000 —
Midwest exchange offer expenses .................................................................... (10,348) — —
Net cash used for investing activities .................................................................. (82,809) (251,503) (80,151)
Financing activities:
Issuance of long-term debt ............................................................................... 69,034 71,045 96,690
Payments on long-term debt and capital lease obligations ................................. (115,904) (113,132) (24,561)
Debt issuance costs .......................................................................................... (7,005) (5,011) (4,610)
Proceeds from exercise of stock options, employee stock purchase plans and
warrants ...................................................................................................... 2,378 12,003 11,096
Net cash provided by (used for) financing activitie
s
.......................................... (51,497) (35,095) 78,615
Net change in cash and cash equivalents.................................................................... 47,773 (211,472) 63,079
Cash and cash equivalents at beginning of year.......................................................... 159,100 370,572 307,493
Cash and cash equivalents at end of year ................................................................... $ 206,873 $ 159,100 $370,572
See accompanying notes to Consolidated Financial Statements.
(2,040,593) (2,540,215)