FairPoint Communications 2004 Annual Report Download - page 516

ORANGE COUNTY - POUGHKEEPSIE LIMITED PARTNERSHIP
STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2004, 2003 AND 2002
(Dollars in Thousands)
2004 2003 2002
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $139,670 $121,568 $97,369
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for uncollectible accounts receivable —30 —
Depreciation and amortization 5,521 5,179 4,225
Net loss (gain) on sale of property, plant and equipment 60 (3)(2)
Changes in certain assets and liabilities:
Accounts receivable (171)14 378
Unbilled revenue (383)259 420
Prepaid expenses and other current assets (3)(13)107
Accounts payable and accrued liabilities 88 (887) 901
Advance billings (166) 63 51
Net cash provided by operating activities 144,616 126,210 103,449
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (10,484)(5,325)(7,704)
Proceeds from sale of property, plant and equipment — — 64
Net cash used in investing activities (10,484)(5,325) (7,642)
CASH FLOWS FROM FINANCING ACTIVITIES:
Decrease (increase) in due to/from general partner, net 22,868 14,115 (15,809)
Distribution to partners (157,000)(135,000)(80,000)
Net cash used in financing activities (134,132) (120,885) (95,809)
INCREASE IN CASH ———
CASH, BEGINNING OF YEAR ———
CASH, END OF YEAR $ — $ — $ —
See notes to financial statements.
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