Spirit Airlines 2012 Annual Report Download - page 64
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Spirit Airlines, Inc.
Statements of Shareholders’ Equity (Deficit)
(In thousands)
See accompanying Notes to Financial Statements.
63
Class A
Common
Stock
Class B
Common
Stock
Common
Stock
Non- Voting
Common
Stock
Additional Paid-
In Capital
Treasury
Stock
Retained Earnings
(Accumulated
Deficit)
Total
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
Adjustment to liability recorded under
Tax Receivable Agreement
—
—
—
—
1,497
—
—
1,497
Share-based compensation
—
—
—
—
4,327
—
—
4,327
Repurchase of common stock
—
(
1,022
)
—
(
1,022
)
Proceeds from options exercised
469
—
—
469
Tax benefit of options exercised
2,098
—
—
2,098
Net income
—
—
—
—
—
—
108,460
108,460
Balance at December 31, 2012
$
—
$
—
$
6
$
1
$
504,527
$
(1,151
)
$
79,152
$
582,535