FairPoint Communications 2004 Annual Report Download - page 548

ILLINOIS VALLEY CELLULAR RSA 2-III PARTNERSHIP
STATEMENTS OF CASH FLOWS
Years Ended December 31, 2002, 2001, and 2000
2002 2001 2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $(211,590)$570,358 $437,164
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation 580,137 493,940 489,717
Provision for losses on accounts receivable 5,000 10,000 (25,000)
Changes in assets and liabilities:
(Increase) Decrease in:
Accounts receivable 132,711 (239,549) 88,558
Prepaids (100,381) — —
Increase (Decrease) in:
Accounts payable 20,451 311,892 (390,032)
Other 17,852 (11,548) 26,737
Net cash provided by operating activities 444,180 1,135,093 627,144
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (1,298,556) (484,229) (129,498)
Proceeds from the sale of investments, net 27,007 46,302 128,861
Net cash used in investing activities (1,271,549) (437,927) (637)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings 1,100,000 — —
Repayment of long-term borrowings (236,690) (293,659) (493,234)
Payments of capital lease obligations (3,173) — —
Partnership distribution — (399,761) (99,994)
Net cash provided by/(used in) financial activities 860,137 (693,420) (593,228)
Net Increase in Cash and Cash Equivalents 32,768 3,746 33,279
Cash and Cash Equivalents at Beginning of Year 48,377 44,631 11,352
Cash and Cash Equivalents at End of Year $81,145 $48,377 $44,631
The accompanying notes are an integral part of these financial statements.