FairPoint Communications 2007 Annual Report Download - page 136

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ORANGE COUNTY — POUGHKEEPSIE LIMITED PARTNERSHIP
STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2007, 2006 AND 2005
2007 2006 2005
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 120,944 $ 124,894 $ 147,508
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 6,069 6,720 6,347
Net loss on sale of property, plant and equipment — — 1
Changes in certain assets and liabilities:
Accounts receivable (70) 156 (10)
Unbilled revenue 903 13 (350)
Prepaid expenses and other current assets 21 46 (105)
Accounts payable and accrued liabilities (73) 68 (5)
Advance billings — (72) (72)
Long term liabilities 33 139 189
Net cash provided by operating activities 127,827 131,964 153,503
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures, including purchases from affiliates, net (6,229) (8,257) (9,599)
Change in due from General Partner, net (2,598) (1,707) (7,802)
Net cash used in investing activities (8,827) (9,964) (17,401)
CASH FLOWS FROM FINANCING ACTIVITIES:
Change in due to General Partner — — (3,102)
Distribution to partners (119,000) (122,000) (133,000)
Net cash used in financing activities (119,000) (122,000) (136,102)
CHANGE IN CASH — — —
CASH, BEGINNING OF YEAR — — —
CASH, END OF YEAR $ — $ — $ —
NONCASH TRANSACTIONS FROM INVESTING AND FINANCING ACTIVITIES
Accruals for capital expenditures $ 106 $ 36 $ 174
See notes to financial statements.
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