FairPoint Communications 2003 Annual Report Download - page 33
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Net cash used in investing activities of continuing operations (57,161)(30,258)(54,010)
Cash flows from financing activities of continuing operations:
Proceeds from issuance of long-term debt 316,215 129,080 317,680
Repayment of long-term debt (211,973)(140,560)(294,414)
Repurchase of shares of common stock subject to put options (975)(1,000)(1,000)
Repurchase of redeemable preferred stock — — (8,645)
Loan origination costs (2,322)(63)(15,593)
Dividends paid to minority stockholders — (3)(4)
Proceeds from exercise of stock options 300 — —
Repayment of capital lease obligation (11) — —
Net cash provided by (used in) financing activities of continuing operations 101,234 (12,546)(1,976)
Net cash contributed (from) to continuing operations (to) from discontinued operations (80,862)(10,353)23,361
Net increase (decrease) in cash (1,072)2,475 209
Cash, beginning of year 3,991 2,919 5,394
Cash, end of year $2,919 5,394 5,603
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Supplemental disclosures of cash flow information:
Interest paid $91,807 76,611 77,351
Income taxes paid, net of refunds $111 252 701
Supplemental disclosures of noncash financing activities:
Redeemable preferred stock issued in connection with long-term debt settlement $— 93,861 —
Long-term debt forgiveness in connection with Carrier Services' debt settlement $— 2,000 —
Redeemable preferred stock dividends paid in-kind $— 10,918 8,163
Gain on repurchase of redemmable preferred stock $— — 2,905
Accretion of redeemable preferred stock $— 1,000 729
Long-term debt issued in connection with Carrier Services' interest rate swap settlement $— 3,003 —
Long-term debt issued in connection with Carrier Services' Tranche B interest payment $— 887 1,548
See accompanying notes to consolidated financial statements.
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FairPoint Communications, Inc. (FairPoint) provides management services to its wholly owned subsidiaries: ST Enterprises, Ltd.