Spirit Airlines 2013 Annual Report Download - page 62

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62
Spirit Airlines, Inc.
Statements of Shareholders’ Equity (Deficit)
(In thousands)
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, 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
Excess tax benefits from share-
based compensation . . . . . . . . . . — — — — 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
Adjustment to liability recorded
under Tax Receivable
Agreement . . . . . . . . . . . . . . . . . — — — — 2,336 — — 2,336
Share-based compensation. . . . . — — — — 5,689 — — 5,689
Repurchase of common stock . . ———— (1,140) — (1,140)
Conversion of non-voting
common stock to common stock — — 1 (1) — — — —
Proceeds from options exercised — — — — 852 — — 852
Excess tax benefits from share-
based compensation . . . . . . . . . . — — — — 1,927 — — 1,927
Net income . . . . . . . . . . . . . . . . . — — — — — — 176,918 176,918
Balance at December 31, 2013 $ — $ — $ 7 $ — $515,331 $ (2,291) $ 256,070 $ 769,117
See accompanying Notes to Financial Statements.