Spirit Airlines 2015 Annual Report Download - page 65
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65
Spirit Airlines, Inc.
Balance Sheets
(In thousands, except share data)
December 31,
2015 December 31,
2014
Assets
Current assets:
Cash and cash equivalents $ 803,632 $ 632,784
Accounts receivable, net 28,266 22,685
Aircraft maintenance deposits 73,415 36,857
Prepaid income taxes 72,278 —
Prepaid expenses and other current assets 48,749 29,172
Total current assets 1,026,340 721,498
Property and equipment:
Flight equipment 827,282 204,462
Ground and other equipment 82,459 57,012
Less accumulated depreciation (65,524)(36,099)
844,217 225,375
Deposits on flight equipment purchase contracts 286,837 242,881
Long-term aircraft maintenance deposits 206,485 213,147
Deferred heavy maintenance, net 89,127 123,108
Other long-term assets 77,539 66,744
Total assets $ 2,530,545 $ 1,592,753
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable $ 17,043 $ 13,402
Air traffic liability 216,831 188,870
Current maturities of long-term debt 49,637 10,431
Other current liabilities 182,729 152,921
Total current liabilities 466,240 365,624
Long-term debt less current maturities 596,693 135,232
Long-term deferred income taxes 221,481 66,367
Deferred gains and other long-term liabilities 20,821 22,455
Shareholders’ equity:
Common stock: Common stock, $0.0001 par value, 240,000,000 shares authorized at
December 31, 2015 and 2014, respectively; 73,402,877 and 72,907,827 issued and
71,541,788 and 72,775,685 outstanding as of December 31, 2015 and 2014,
respectively 7 7
Additional paid-in-capital 544,277 526,173
Treasury stock, at cost: 1,861,089 and 132,142 shares as of December 31, 2015 and
2014, respectively (116,182)(3,921)
Retained earnings 798,754 481,534
Accumulated other comprehensive loss (1,546)(718)
Total shareholders’ equity 1,225,310 1,003,075
Total liabilities and shareholders’ equity $ 2,530,545 $ 1,592,753
See accompanying Notes to Financial Statements.