US Airways 2005 Annual Report Download - page 216

Table of Contents
US Airways, Inc.
Statements of Cash Flows
(in millions)
Successor
Company Predecessor Company
Three Months Nine Months Nine Months Three Months
Ended Ended Year Ended Ended Ended
December 31, September 30, December 31, December 31, March 31,
2005 2005 2004 2003 2003
Cash flows from operating activities
Net income (loss) $ (120) $ 280 $ (578) $ (160) $ 1,613
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities before reorganization items, net:
Fresh start adjustments — (697) 17 — (2,549)
Depreciation and amortization 37 158 223 161 66
Non-cash impairments and other special items — — — — 555
Gains on curtailments of postretirement benefits other than pensions — (255) — — —
Gains on dispositions of property 1 (2) — — (4)
Amortization of deferred gains and credits (14) (66) (79) (66) (10)
Stock-based compensation — 10 50 124 —
Other 6 (8) 3 4 88
Changes in certain assets and liabilities:
Decrease (increase) in receivables 65 (42) (5) 40 (10)
Decrease (increase) in materials and supplies, prepaid expenses, and other assets (1) (25) (42) 28 (7)
Increase (decrease) in air traffic liability (77) 175 (15) (89) 140
Increase (decrease) in accounts payable and accrued expenses (15) 89 287 6 (100)
Increase in payable to affiliates 154 53 — — —
Increase (decrease) in postretirement benefits other than pensions, noncurrent (10) 8 44 60 29
Net cash provided by (used for) operating activities before reorganization items 26 (322) (95) 108 (189)
Reorganization items, net (33) (92) (11) — (90)
Net cash provided by (used for) operating activities (7) (414) (106) 108 (279)
Cash flows from investing activities
Purchases of property and equipment (5) (136) (198) (201) (7)
Proceeds from sales of property 36 153 18 19 2
Decrease (increase) in short-term investments (132) — 358 (290) (19)
Decrease (increase) in restricted cash and investments 125 (69) (76) 24 (57)
Proceeds from repayment of parent company loans — — — — 237
Other — — — 32 (8)
Net cash provided by (used for) investing activities 24 (52) 102 (416) 148
Cash flows from financing activities
Proceeds from issuance of debt — 140 240 52 1,081
Proceeds from issuance of debtor-in-possession financings — 125 — — 131
Proceeds from sale lease back transactions 503 58 — — —
Advance from parent company — — — 34 —
Repayments of debt and capital lease obligations (434) (215) (425) (50) (466)
Net cash provided by (used for) financing activities 69 108 (185) 36 746
Net increase (decrease) in cash and cash equivalents 86 (358) (189) (272) 615
Cash and cash equivalents at beginning of period 376 734 923 1,195 580
Cash and cash equivalents at end of period $ 462 $ 376 $ 734 $ 923 $ 1,195
See accompanying notes to the financial statements.
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