Spirit Airlines 2014 Annual Report Download - page 62
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62
Spirit Airlines, Inc.
Balance Sheets
(In thousands, except share data)
December 31,
2014 December 31,
2013
Assets
Current assets:
Cash and cash equivalents $ 632,784 $ 530,631
Accounts receivable, net 22,685 23,246
Deferred income taxes 9,643 16,243
Prepaid expenses and other current assets 66,029 78,955
Total current assets 731,141 649,075
Property and equipment:
Flight equipment 204,462 12,744
Ground and other equipment 57,012 48,090
Less accumulated depreciation (36,099)(25,221)
225,375 35,613
Deposits on flight equipment purchase contracts 242,881 157,669
Aircraft maintenance deposits 213,147 161,484
Deferred heavy maintenance, net 123,108 125,288
Other long-term assets 67,329 51,636
Total assets $ 1,602,981 $ 1,180,765
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable $ 13,402 $ 23,104
Air traffic liability 188,870 167,627
Current maturities of long-term debt 10,431 —
Other current liabilities 152,921 145,262
Total current liabilities 365,624 335,993
Long-term debt less current maturities 135,817 —
Long-term deferred income taxes 76,010 48,916
Deferred gains and other long-term liabilities 22,455 26,739
Shareholders’ equity:
Common stock: Common stock, $0.0001 par value, 240,000,000 shares authorized at
December 31, 2014 and 2013, respectively; 72,907,827 and 72,774,920 issued and
72,775,685 and 72,670,673 outstanding as of December 31, 2014 and 2013,
respectively 7 7
Common stock: Non-Voting common stock: $0.0001 par value, 50,000,000 shares
authorized at December 31, 2014 and 2013, respectively; 0 issued and outstanding
as of December 31, 2014 and 2013, respectively — —
Additional paid-in-capital 526,173 515,331
Treasury stock, at cost: 132,142 and 104,247 shares as of December 31, 2014 and
2013, respectively (3,921)(2,291)
Retained earnings 481,534 256,070
Accumulated other comprehensive income (loss) (718)—
Total shareholders’ equity 1,003,075 769,117
Total liabilities and shareholders’ equity $ 1,602,981 $ 1,180,765
See accompanying Notes to Financial Statements.