FairPoint Communications 2011 Annual Report Download - page 74
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Table of Contents
Cash flows from operating activities:
Net (loss) income $(414,945) $586,907 $(281,579) $ (241,396)
Adjustments to reconcile net income to net cash provided by (used in)
operating activities:
Deferred income taxes (52,203) 279,868 (7,915) (78,722)
Provision for uncollectible revenue 18,344 3,454 20,525 48,402
Depreciation and amortization 336,891 21,515 289,824 275,334
Non-cash interest expense — — — 31,137
Post-retirement accruals 35,183 2,654 33,216 34,151
Pension accruals 5,021 986 10,017 24,274
Gain on derivative instruments — — — (12,320)
Gain on early retirement of debt, excluding cash fees — — — (12,477)
Loss on abandoned projects — — 15,132 —
Impairment of intangible assets and goodwill 262,019 — — —
Other non-cash items (288) 97 4,045 4,468
Changes in assets and liabilities arising from operations:
Accounts receivable 7,863 (7,752) 12,706 (24,799)
Prepaid and other assets (1,926) (3,423) (6,834) 19,063
Accounts payable and accrued liabilities (12,303) 26,627 (10,802) (12,435)
Accrued interest payable 508 9,017 137,111 61,312
Other assets and liabilities, net 67 177 (3,816) (9,633)
Reorganization adjustments:
Non-cash reorganization income (7,308) (917,358) (20,004) 43,964
Claims payable and estimated claims accrual (66,712) (1,096) — —
Restricted cash - cash claims reserve 59,888 (82,764) — —
Total adjustments 585,044 (667,998) 473,205 391,719
Net cash provided by (used in) operating activities 170,099 (81,091) 191,626 150,323
Cash flows from investing activities:
Net capital additions (163,648) (12,477) (197,795) (178,752)
Distributions from investments 798 — 527 1,361
Net cash used in investing activities (162,850) (12,477) (197,268) (177,391)
Cash flows from financing activities:
Loan origination costs (884) (1,500) (1,475) (3,046)
Proceeds from issuance of long-term debt — — 5,513 50,000
Repayments of long-term debt — — — (20,848)
Restricted cash 1,843 34 (62) 65,114
Repayment of capital lease obligations (1,120) (201) (2,192) (2,126)
Dividends paid to stockholders — — — (22,996)
Net cash (used in) provided by financing activities (161) (1,667) 1,784 66,098
Net change 7,088 (95,235) (3,858) 39,030
Cash, beginning of period 10,262 105,497 109,355 70,325
Cash, end of period $ 17,350 $10,262 $105,497 $109,355
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest 62,290 — 1,005 106,861
Income tax paid, net of refunds 218 — 361 (563)
Non-cash issuance of Senior Notes — — — 18,911
Capital additions included in accounts payable, claims payable and
estimated claims accrual or liabilities subject to compromise at
period-end 854 1,818 1,961 31,621
Reorganization costs paid 20,069 11,110 41,699 1,182
See accompanying notes to consolidated financial statements.
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