Frontier Airlines 2006 Annual Report Download - page 52

The following represents a reconciliation of EBITDA to net cash from operating activities for the periods indicated (dollars in
thousands):
Years Ended December 31,
2006 2005 2004 2003 2002
(in thousands)
EBITDA $ 314,765 $ 228,597 $ 126,275 $ 106,779 $ 42,129
Interest expense (91,128) (63,546) (28,464) (22,789) (12,868)
Debt issue and other amortization 4,551 2,776 1,928 1,968 339
Warrant amortization 565 372 800 359 9
(Gain) loss on aircraft and other equipment
disposals (118) (276) 1,151 1,079 193
Impairment loss and accrued aircraft return costs
(credits) (2,050) (4,218) 1,441 2,756 7,196
Amortization of deferred credits (1,438) (1,346) (1,285) (1,249) (1,132)
Stock compensation expense 1,297 125 214 214 214
Current income tax (expense) benefit (495) (1,915) (520) (237) 4,485)
Changes in certain assets and liabilities:
Receivables (2,939) (10,323) 10,480 (7,124) (481)
Inventories (11,448) 1,276 (2,683) (2) 715
Prepaid expenses and other current assets 1,474 (4,907) (1,022) 1,057 (1,116)
Accounts payable 10,546 1,152 1,963 (4,405) 4,209
Accrued liabilities 16,826 28,980 11,370 14,937 1,805
Other assets (11,261) (5,868) (4,821) (1,716) (2,987)
Net cash from operating activities $ 229,147 $ 170,879 $ 116,827 $ 91,627 $ 42,710
(10) Excludes two Saab 340 aircraft held for sale at December 31, 2002 and 2003, one as of December 31, 2004, five as of December
31, 2005 and one leased Saab 340 aircraft at December 31, 2002.
(11) Beginning in May 2005, we do not record fuel expense and the related revenue for US Airways operations because US Airways
pays for fuel directly.
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Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, March 15, 2007 Powered by Morningstar® Document Research℠