Frontier Airlines 2005 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2005 Frontier Airlines 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 154

  • 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
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154

REPUBLIC AIRWAYS HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2005, 2004 and 2003
(In thousands)
2005 2004 2003
OPERATING ACTIVITIES:
Net income $ 60,654 $ 38,852 $ 36,138
Adjustments to reconcile net income to net cash from operating
activities:
Depreciation and amortization 64,877 34,412 23,873
Debt issue costs and other amortization 2,776 1,928 1,968
Warrant amortization 372 800 359
Loss (gain) on aircraft and other equipment disposals (276) 1,151 1,079
Impairment loss and accrued aircraft return costs (4,218) 1,441 2,756
Amortization of deferred credits (1,346) (1,285) (1,249)
Stock compensation expense 125 214 214
Deferred income taxes 37,606 24,027 23,742
Changes in certain assets and liabilities:
Receivables (10,323) 10,480 (7,124)
Inventories 1,276 (2,683) (2)
Prepaid expenses and other current assets (4,907) (1,022) 1,057
Accounts payable 1,152 1,963 (4,405)
Accrued and other liabilities 28,980 11,370 14,937
Other assets (5,869) (4,821) (1,716)
Net cash from operating activities 170,879 116,827 91,627
INVESTING ACTIVITIES:
Purchase of aircraft and other equipment (126,928) (64,361) (37,071)
Purchase of commuter slots (51,640)
Proceeds from sale of aircraft equipment 2,479 699 826
Aircraft deposits and other (37,206) (79,244) (9,628)
Aircraft deposits returned 38,158 40,480 15,192
Change in restricted cash (15) 2 (2)
Net cash from investing activities (175,152) (102,424) (30,683)
FINANCING ACTIVITIES:
Payments on short/long-term debt (53,363) (26,947) (39,129)
Proceeds from short/long-term debt 3,213
Repayment of subordinated notes payable to affiliate (Wexford) (1,250) (43,672) (37,559 )
Proceeds from capital contribution (Wexford) 400 3,950 3,367
Proceeds from subordinated notes payable from affiliate (Wexford) 250 20,390 35,566
Proceeds from common stock offerings, net 186,765 58,172
Payments on redemption of redeemable preferred stock of subsidiary (5,368)
Payments on settlement of treasury locks (4,694) (3,562)
Proceeds on settlement of treasury locks 192 593
Proceeds from exercise of stock options 1,189 978
Debt issue costs (9,431) (3,835) (1,968)
Other 2 (2)
Net cash from financing activities 120,058 9,282 (45,093)
Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, February 27, 2006 Powered by Morningstar® Document Research℠