FairPoint Communications 2009 Annual Report Download - page 98
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Table of Contents
Cash flows from operating activities:
Net (loss) income $ (241,396) $ (68,525) $ 32,828
Adjustments to reconcile net income (loss) to net cash provided by operating
activities excluding impact of acquisitions:
Deferred income taxes (78,722) (33,466) (38,928)
Provision for uncollectible revenue 56,073 25,234 21,765
Depreciation and amortization 275,334 255,032 233,231
Non-cash interest expense 31,137 — —
Post-retirement accruals 34,151 37,782 90,035
(Gain) loss on derivative instruments (12,320) 11,800 —
Gain on early retirement of debt, excluding cash fees (12,477) — —
Non-cash reorganization costs 43,964 — —
Other non cash items 28,742 (19,671) 904
Changes in assets and liabilities arising from operations:
Accounts receivable (32,470) (34,693) (1,477)
Prepaid and other assets 19,063 (12,713) 9,642
Accounts payable and accrued liabilities (12,435) (110,264) (11,159)
Accrued interest payable 61,312 18,562 —
Other assets and liabilities, net (9,633) 4,648 (72,337)
Other — (16,221) —
Total adjustments 391,719 126,030 231,676
Net cash provided by operating activities 150,323 57,505 264,504
Cash flows from investing activities:
Acquired cash balance, net — 11,401 —
Net capital additions (178,752) (296,992) (149,458)
Net proceeds from sales of investments and other assets 1,361 2,259 12,242
Net cash used in investing activities (177,391) (283,332) (137,216)
Cash flows from financing activities:
Loan origination costs (3,046) (29,238) —
Proceeds from issuance of long-term debt 50,000 1,930,000 —
Repayments of long-term debt (20,848) (687,491) —
Contributions from (to) Verizon — 373,590 (125,579)
Restricted cash 65,114 (68,503) —
Repayment of capital lease obligations (2,126) (2,247) (1,709)
Dividends paid to stockholders (22,996) (1,219,959) —
Net cash provided by (used in) financing activities 66,098 296,152 (127,288)