Spirit Airlines 2011 Annual Report Download - page 74

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Spirit Airlines, Inc.
Balance Sheets
(In thousands, except share data)
See accompanying Notes to Financial Statements.
December 31,
2011
2010
Assets
Current assets:
Cash and cash equivalents
$
343,328
$
82,714
Restricted cash —
72,736
Accounts receivable, net
15,425
9,471
Deferred income taxes
20,738
51,492
Other current assets
63,217
34,806
Total current assets
442,708
251,219
Property and equipment:
Flight equipment
4,182
3,901
Ground and other equipment
46,608
39,441
Less accumulated depreciation
(27,580
)
(24,013
)
23,210
19,329
Deposits on flight equipment purchase contracts
91,450
44,188
Prepaid aircraft maintenance to lessors
120,615
116,857
Long-term deferred income taxes —
1,319
Security deposits and other long-term assets
67,830
42,845
Total assets
$
745,813
$
475,757
Liabilities and shareholders’ equity (deficit)
Current liabilities:
Accounts payable
$
15,928
$
13,360
Air traffic liability
112,280
104,788
Other current liabilities
98,856
73,041
Current maturities of long-term debt and obligations, due to related parties —
20,000
Current maturities of long-term debt and obligations, due to non-related parties —
3,240
Total current liabilities
227,064
214,429
Deferred credits and other long-term liabilities
52,043
29,101
Due to related parties, less current maturities —
245,621
Long-term debt, less current maturities —
11,966
Mandatorily redeemable preferred stock —
79,717
Shareholders’ equity (deficit)
Common stock: Class A common stock, $0.0001 par value, 0 and 25,000,000 shares authorized at December 31,
2011 and 2010, respectively; 0 and 20,848,847 shares issued and outstanding as of December 31, 2011 and 2010,
respectively —
2
Common stock: Class B common stock, $0.0001 par value, 0 and 6,500,000 shares authorized at December 31,
2011 and 2010, respectively; 0 and 6,009,978 shares issued and outstanding as of December 31, 2011 and 2010,
respectively —
1
Common stock: Common stock, $.0001 par value, 240,000,000 and 0 shares authorized at December 31, 2011 and
2010, respectively; 61,954,576 and 0 issued and 61,946,361 and 0 outstanding as of December 31, 2011 and 2010,
respectively
6
—
Common stock: Non-Voting common stock: $.0001 par value, 50,000,000 and 0 shares authorized at December 31,
2011 and 2010, respectively; 10,576,180 and 0 issued and outstanding as of December 31, 2011 and 2010,
respectively
1
—
Additional paid-in-capital
496,136
676
Treasury Stock, at cost 8,215 shares in 2011 and 0 shares in 2010
(129
)
—
Accumulated deficit
(29,308
)
(105,756
)
Total shareholders’ equity (deficit)
$
466,706
$
(105,077
)
Total liabilities and shareholders’ equity (deficit)
$
745,813
$
475,757