Spirit Airlines 2011 Annual Report Download - page 78
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Spirit Airlines, Inc.
Statements of Shareholders’ Equity (Deficit)
(In thousands)
See accompanying Notes to Financial Statements.
68
Class A
Common
Stock
Class B
Common
Stock
Common
Stock
Non-
Voting
Common
Stock
Additional
Paid-In
Capital
Treasury
Stock
Accumulated
Deficit
Total
Balance at December 31, 2008
$
2
$
1
$
—
$
—
$
50
$
(13
)
$
(261,930
)
$
(261,890
)
Repurchase of common stock —
—
—
—
—
(
43
)
—
(
43
)
Retirement of common stock —
—
—
—
(
56
)
56
—
Share-based compensation —
—
—
—
113
—
—
113
Net income —
—
—
—
—
—
83,693
83,693
Balance at December 31, 2009
2
1
—
—
107
—
(
178,237
)
(178,127
)
Share-based compensation —
—
—
—
569
—
—
569
Net income —
—
—
—
—
—
72,481
72,481
Balance at December 31, 2010
2
1
—
—
676
—
(
105,756
)
(105,077
)
Conversion of Class A & B common
stock to common stock
(2
)
(1
)
3
—
—
—
—
—
Proceeds from initial public offering, net —
—
1
—
170,827
—
—
170,828
Conversion of debt to common stock —
—
2
—
279,204
—
—
279,206
Conversion of preferred stock to common
stock —
—
1
—
81,746
—
—
81,747
Record liability under Tax Receivable
Agreement —
—
—
—
(
36,522
)
—
—
(
36,522
)
Share-based compensation —
—
—
—
530
—
—
530
Repurchase of common stock —
—
—
—
(
757
)
(129
)
—
(
886
)
Conversion of common stock to non-
voting common stock —
—
(
1
)
1
—
—
—
—
Proceeds from options exercised —
—
—
—
423
—
—
423
Net income —
—
—
—
—
—
76,448
76,448
Other —
—
—
—
9
—
—
9
Balance at December 31, 2011
$
—
$
—
$
6
$
1
$
496,136
$
(129
)
$
(29,308
)
$
466,706