Southwest Airlines 1994 Annual Report Download - page 26

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Consolidated Statement Of Cash Flows
Southwest Airlines – 1994 Annual Report Page 26
Consolidated Statement Of Cash Flows
Cash flows from operating activities: Dec 31, 1994 Dec 31, 1993 Dec 31, 1992
Net income $179,331 $169,543 $114,165
Cumulative effect of accounting changes (Note 3) -(15,259) (12,538)
Income before cumulative effect of accounting changes 179,331 154,284 101,627
Adjustments to reconcile net income to cash provided
by operating activities:
Depreciation 139,045 119,338 101,976
Deferred income taxes 49,887 53,200 21,260
Amortization of deferred gains on sale and
leaseback of aircraft (30,341) (32,509) (32,719)
Amortization of scheduled airframe overhauls 14,216 11,630 6,930
Changes in certain assets and liabilities:
Increase in accounts receivable (5,208) (14,253) (7,440)
Decrease(increase) in other current assets 648 (9,641) (12,000)
Increase in accounts payable and accrued
liabilities
52,679 67,585 65,706
Increase in air traffic liability 9,993 30,212 18,602
Increase(decrease) in other current liabilities (4,690) 2,393 12,179
Other 7,106 10,440 5,978
Net cash provided by operating activities 412,666 392,679 282,099
Cash flows from investing activities:
Purchases of property and equipment (788,649) (524,169) (432,528)
Net cash used in investing activities (788,649) (524,169) (432,528)
Cash flows from financing activities:
Issuance of long-term debt -17,810 113,827
Proceeds from public common stock offering(Note 8) - - 86,946
Proceeds from aircraft sale and leaseback transactions 315,000 90,000 120,000
Proceeds from sale of preferred stock, pooled company - - 14,638
Payment of long-term debt and capital lease
obligations (63,071) (120,098) (10,358)
Payment of cash dividends (5,722) (5,376) (4,890)
Cash distributions of pooled company(Note 2) - - (5,389)
Proceeds from Employee stock plans 8,743 6,743 3,517
Other -(7) 802
Net cash provided by (used in) financing activities 254,950 (10,928) 319,094
Net increase (decrease) in cash and cash equivalents (121,033) (142,418) 168,665
Cash and cash equivalents at beginning of period 295,571 437,989 269,324
Cash and cash equivalents at end of period $174,538 $295,571 $437,989
Cash payments for:
Interest, net of amount capitalized $26,598 $43,161 $39,936
Income taxes 80,461 45,292 27,728