Spirit Airlines 2014 Annual Report Download - page 64

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64
Spirit Airlines, Inc.
Statements of Shareholders’ Equity
(In thousands)
Common
Stock
Non- Voting
Common
Stock
Additional
Paid-In
Capital Treasury
Stock
Retained
Earnings
(Accumulat
ed Deficit)
Accumulated
Other
Comprehensive
Income (Loss) Total
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
Share-based compensation — — 8,797 — — — 8,797
Repurchase of common stock — — (1,630) — — (1,630)
Proceeds from options
exercised — — 174 — — — 174
Excess tax benefits from share-
based compensation — — 1,871 — — — 1,871
Unrealized gain (loss) from
cash flow hedges, net of tax (718)(718)
Net income — — — — 225,464 — 225,464
Balance at December 31, 2014 $ 7 $ — $ 526,173 $ (3,921) $ 481,534 $ (718) $1,003,075
See accompanying Notes to Financial Statements.