FairPoint Communications 2003 Annual Report Download - page 29
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Debt issue costs, net of accumulated amortization 15,157 21,614
Notes receivable—related party — 1,000
Covenants not to compete, net of accumulated amortization 806 151
Other 858 862
Total other assets 504,229 534,264
Total assets $829,253 843,068
42
Current liabilities:
Accounts payable $20,664 14,671
Other accrued liabilities 18,797 13,116
Accrued interest payable 10,501 16,739
Current portion of long-term debt 5,704 21,982
Accrued property taxes 2,192 1,968
Current portion of obligation for covenants not to compete 536 145
Demand notes payable 427 407
Income taxes payable 219 70
Liabilities of discontinued operations 5,065 4,461
Liabilities held for sale 639 —
Total current liabilities 64,744 73,559
Long-term liabilities:
Long-term debt, net of current portion 798,486 803,578
Preferred shares subject to mandatory redemption — 96,699
Other liabilities 13,070 12,278
Liabilities of discontinued operations 5,265 2,571
Obligation for covenants not to compete, net of current portion 245 100
Unamortized investment tax credits 134 85
Total long-term liabilities 817,200 915,311
Minority interest 16 15
Common stock subject to put options, 239 shares at December 31, 2002 and 163
shares at December 31, 2003 3,136 2,136
Redeemable preferred stock, Series A nonvoting, nonconvertible, par value $0.01 per
share. Authorized 1,000 shares; issued and outstanding 105 shares; redemption value
of $104,779 90,307 —
Commitments and contingencies
Stockholders' deficit:
Common stock:
Class A voting, par value $0.01 per share. Authorized 236,200 shares; issued
and outstanding 45,611 shares at December 31, 2002 and 2003 456 456
Class B nonvoting, convertible, par value $0.01 per share. Authorized 150,000
shares — —
Class C nonvoting, convertible, par value $0.01 per share. Authorized 13,800
shares; issued and outstanding 4,269 shares at December 31, 2002 and 2003 43 43
Additional paid-in capital 206,942 198,065
Accumulated other comprehensive loss (1,132)1,366
Accumulated deficit (352,459)(347,883)
Total stockholders' deficit (146,150)(147,953)
Total liabilities and stockholders' deficit $829,253 843,068
See accompanying notes to consolidated financial statements.