FairPoint Communications 2004 Annual Report Download - page 530

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CASH FLOWS FROM OPERATING ACTIVITIES
Net income $341,281 $1,413,315 $1,669,620
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation 956,539 748,968 772,698
Provision for losses on accounts receivable (6,500) (24,000) (8,000)
Changes in assets and liabilities:
(Increase) Decrease in:
Accounts receivable (7,940) (225,823) (9,609)
Prepaids (93,938) — —
Increase (Decrease) in:
Accounts payable 517,627 102,857 (135,409)
Other 112,078 95,298 (47,291)
Net cash provided by operating activities 1,819,147 2,110,615 2,242,009
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (2,214,901) (995,505) (889,583)
Proceeds from the sale of investments, net 76,503 87,431 88,012
Net cash used in investing activities (2,138,398) (908,074) (801,571)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings 1,000,000 — —
Repayment of long-term borrowings (659,340) (801,751) (933,040)
Payments of capital lease obligations (5,877) — —
Partnership distribution — (349,796) (549,994)
Net cash provided by/(used in) financing activities 334,783 (1,151,547) (1,483,034)
Net Increase (Decrease) in Cash and Cash Equivalents 15,532 50,994 (42,596)
Cash and Cash Equivalents at Beginning of Year 102,338 51,344 93,940
Cash and Cash Equivalents at End of Year $117,870 $102,338 $51,344
The accompanying notes are an integral part of these financial statements.