FairPoint Communications 2003 Annual Report Download - page 32
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principle (4,664) — —
Reclassification adjustment 2,095 (2,569)1,437 1,437 1,029 1,029
Other comprehensive income (loss) (2,687) 1,115 2,498
Comprehensive income (loss) $(214,287) 14,354 4,169
See accompanying notes to consolidated financial statements.
46
Cash flows from operating activities:
Net income (loss) $(211,600)13,239 1,671
Adjustments to reconcile net income (loss) to net cash provided by operating activities of continuing
operations:
(Income) loss from discontinued operations 186,178 (21,933)(9,921)
Dividends and accretion on shares subject to mandatory redemption — — 9,049
Depreciation and amortization 55,081 46,310 48,089
Amortization of debt issue costs 4,018 3,664 4,171
Provision for uncollectible revenue 1,035 2,997 1,028
Income from equity method investments (4,930)(7,798)(10,092)
Deferred patronage dividends (394)(253)(233)
Minority interest in income of subsidiaries 2 2 2
Loss on early retirement of debt — — 1,503
Net loss (gain) on sale of investments and other assets 648 (34)(608)
Impairment on investments — 12,568 —
Amortization of investment tax credits (138)(85)(37)
Stock-based compensation 1,337 924 15
Change in fair value of interest rate swaps and reclassification of transition adjustment recorded
in comprehensive income (loss) 8,134 (698)(6,664)
Changes in assets and liabilities arising from continuing operations, net of acquisitions:
Accounts receivable 707 2,534 (3,801)
Prepaid and other assets (939)1,266 (771)
Accounts payable (175)900 (7,185)
Accrued interest payable 233 506 7,786
Other accrued liabilities (4,009)1,640 418
Income taxes 306 379 (149)
Other assets/liabilities 223 (496)(1,437)
Total adjustments 247,317 42,393 31,163
Net cash provided by operating activities of continuing operations 35,717 55,632 32,834
Cash flows from investing activities of continuing operations:
Acquisition of telephone properties, net of cash acquired (18,862) — (33,114)
Acquisition of property, plant, and equipment (43,175)(38,803)(33,595)
Proceeds from sale of property, plant, and equipment 131 377 377
Distributions from investments 5,013 9,018 10,775
Payment on covenants not to compete (945)(805)(536)
Acquisition of investments (652)(493)(17)
Proceeds from sale of investments and other assets 1,329 448 2,100