Airtran 2009 Annual Report Download - page 74

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65
AirTran Holdings, Inc.
Consolidated Statements of Cash Flows
(In thousands)
Year ended December 31,
2009 2008 2007
Operating activities:
Net income (loss) $134,662 $(266,334) $ 50,545
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization 68,363 65,412 51,210
Amortization of deferred gains from sales/leaseback of aircraft (5,193)(4,668)(4,887)
Amortization of debt discount 7,258 7,399 6,374
Midwest exchange offer expenses
—
—
10,650
Provisions for uncollectible accounts 573 1,264 1,407
Deferred income taxes 677 (34,416)33,403
Impairment of goodwill
—
8,350
—
(Gain) loss on asset dispositions (2,914)(19,184)(3,875)
Gain on debt extinguishment (4,278)
—
—
Othe
r
2,750 10,659 2,067
Changes in certain operating assets and liabilities:
Restricted cash 33,736 (44,326)(4,803)
Derivative financial instruments (104,894)66,027 (6,492)
Accounts receivable 8,711 5,157 (5,566)
Spare parts, materials, and supplies (1,463)(1,625)(3,284)
Prepaid and stored fuel (18,334)16,656 (27,161)
Deposits held by counterparties to derivative financial instruments 48,820 (48,820)
—
Prepaid aircraft rent 2,650 (6,408)(11,682)
Other assets (5,733)(4,507)(16,429)
Accounts payable, accrued and other liabilities (21,994)37,331 46,272
Air traffic liability (25,164)32,132 64,330
Net cash provided by (used for) operating activities 118,233 (179,901)182,079
Investing activities:
Purchase of available-for-sale securities
—
(30,303)(2,040,593)
Sale of available-for-sale securities 27,116 118,986 2,071,195
Purchases of property and equipment (90,877)(136,427)(176,020)
Return (payment) of aircraft purchase deposits, net 14,312 55,785 78
Proceeds from sale of aircraft
—
305,965 72,879
Midwest exchange offer expenses
—
—
(10,348)
Other 2,225 14,650
—
Net cash provided by (used for) investing activities (47,224) 328,656 (82,809)
Financing activities:
Issuance of long-term debt 160,916 107,577 62,029
Payments on long-term debt and capital lease obligations (95,774)(317,153)(115,904)
Borrowings under revolving line of credit facility 1,050,000 377,000
—
Repayment of borrowings under revolving line of credit facility (1,015,000)(287,000)
—
Net proceeds from issuance of common stock 54,805 74,669
—
Proceeds from exercise of stock options, and purchases under employee stock purchase plan 1,708 3,902 2,378
Other (123) 455
—
Net cash provided by (used for) financing activities 156,532 (40,550)(51,497)
N
et change in cash and cash equivalents 227,541 108,205 47,773
Cash and cash equivalents at beginning of year 315,078 206,873 159,100
Cash and cash equivalents at end of year $ 542,619 $ 315,078 $ 206,873
See accompanying notes to Consolidated Financial Statements