SPIRIT AIRLINES, INC. SAVE Cash Flow

Spirit airlines, inc. (SAVE)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Operating activities:
Net income (loss)
335,255	155,749	415,522	263,483	317,220	225,464	176,918	108,460	76,448	72,481	83,693
Adjustments to reconcile net income (loss) to net cash provided by operations:
Unrealized losses on open derivative contracts, net
-	-	-	-	-2,202	0	-265	-46	-3,204	2,065	1,449
Losses reclassified from other comprehensive income
-315	-315	-335	-354	-132	0	-	-	-	-	-
Share-based compensation
8,154	11,021	8,522	7,105	9,222	8,797	5,689	4,327	-	-	113
Allowance for doubtful accounts (recoveries)
0	-11	-53	80	12	-45	143	78	27	-110	109
Amortization of deferred gains, losses and debt issuance costs
8,654	8,819	7,944	5,732	1,165	-185	-558	-830	-1,047	-574	-255
Gain on debt extinguishment
-	-	-	-	-	-	-	-	-	-	19,711
Non-cash restructuring credit charges, net
-	-	-	-	-	-	-	-	0	22	60
Equity-based compensation, net
-	-	-	-	-	-	-	-	530	569	-
Depreciation and amortization
225,264	176,727	140,152	101,136	73,908	46,971	31,947	15,256	7,760	5,620	4,924
Deferred income tax expense
115,689	46,303	-492	85,339	155,614	34,118	12,047	29,255	44,180	-52,811	0
Loss on disposal of assets
-17,400	-9,600	-4,200	-4,187	-1,604	-3,008	-525	-956	-255	-77	-1,010
Lease termination costs
0	0	-12,629	-37,189	0	0	-	-	-	-	-
Special charges, non-operating
0	90,400	0	0	-	-	-	-	-	-	-
Gain on slot sale
-	-	-	-	-	-	-	9,060	0	0	-
Interest and dividends incurred but not paid
-	-	-	-	-	-	-	-	21,875	43,202	38,080
Changes in operating assets and liabilities:
Accounts receivable, net
26,147	-1,674	8,134	12,951	5,592	-606	461	7,393	5,728	1,014	2,450
Restricted cash
-	-	-	-	-	-	-	-	-72,736	20,196	-16,857
Aircraft maintenance deposits, net
-22,453	-14,019	37,930	45,869	32,101	31,925	24,058	31,567	36,848	35,694	-
Prepaid maintenance reserves
-	-	-	-	-	-	-	-	-	-	26,923
Long-term deposits and other assets
-14,999	4,803	50,951	47,204	22,208	48,382	65,654	68,248	15,992	13,981	6,542
Deferred heavy maintenance, net
175,957	190,381	78,237	30,222	9,127	-	-	-	-	-	-
Income tax receivable
21,013	-69,844	69,844	0	0	-	-	-	-	-	-
Prepaid income taxes
-1,431	0	0	-72,278	72,278	0	-	-	-	-	-
Accounts payable
569	15,317	6,030	-6,823	2,706	-10,034	-1,674	8,452	2,457	-2,007	-6,566
Air traffic liability
23,429	28,270	43,527	-9,455	36,387	21,135	36,226	19,134	6,573	19,107	-3,239
Other liabilities
1,698	74,038	31,672	47,200	14,119	12,302	24,235	46,115	-2,189	16,132	-7,313
Other
-822	-375	380	206	0	0	-214	-	-153	-234	-380
Net cash provided by operating activities
551,321	506,463	425,240	471,765	472,985	261,830	195,376	113,631	171,198	27,033	69,067
Investing activities:
Purchase of available-for-sale investment securities
122,410	124,430	107,246	103,258	0	0	-	-	-	-	-
Proceeds from the maturity and sale of available-for-sale investment securities
120,830	122,947	105,906	2,842	0	0	-	-	-	-	-
Proceeds from sale of property and equipment
0	11,400	0	50	0	0	-	14	150	333	19,491
Proceeds from sale of slots
-	-	-	-	-	-	-	9,060	0	0	-
Pre-delivery deposits on flight equipment, net of refunds
102,102	177,424	149,477	173,947	142,323	115,802	70,288	12,626	53,274	25,474	-2,384
Capitalized interest
10,774	8,729	12,305	10,834	10,159	1,318	0	1,350	2,890	1,491	-951
Assets under construction for others
7,936	501	0	0	-	-	-	-	-	-	-
Purchase of property and equipment
334,537	606,971	628,881	539,209	548,800	186,569	19,812	23,771	14,093	5,325	14,778
Net cash used in investing activities
-456,929	-783,708	-792,003	-824,356	-701,282	-303,689	-90,100	-27,323	-67,217	-30,466	2,329
Financing activities:
Proceeds from issuance of long-term debt
225,891	832,099	629,725	417,275	536,780	148,000	0	0	-	-	2,000
Proceeds from issuance of common stock, net of offering expenses
-	-	-	-	-	-	-	-	170,828	0	0
Proceeds from stock options exercised
1	51	45	92	32	174	852	469	423	0	0
Payments on debt obligations
246,783	137,275	102,313	64,371	-	-	-	-	-	-	-
Payments on finance lease obligations
96,547	205,720	425	50	-	-	-	-	-	-	-
Reimbursement for assets under construction for others
5,618	501	0	0	-	-	-	-	-	-	-
Payments on debt and capital lease obligations
-	-	-	-	26,364	1,233	0	0	18,221	0	2,239
Proceeds from sale leaseback transactions
-	-	-	-	7,300	7,200	6,900	12,540	4,481	0	0
Payments to pre-IPO shareholders pursuant to tax receivable agreement
-	-	-	-	-	5,643	0	26,905	0	0	-
Excess tax (deficiency) benefit from equity-based compensation
-	-	-	-470	8,850	1,871	1,927	2,098	0	0	-
Repurchase of common stock
5,439	1,162	46,580	102,510	112,261	1,630	1,140	1,022	886	0	43
Debt issuance costs
2,909	7,365	13,740	107	15,192	4,727	0	0	-8	0	1,196
Net cash provided by financing activities
-120,168	481,129	466,712	249,859	399,145	144,012	8,539	-12,820	156,633	0	-1,478
Net increase (decrease) in cash and cash equivalents
-25,776	203,884	99,949	-102,732	170,848	102,153	113,815	73,488	260,614	-3,433	69,918
Cash payments for:
Interest, net of capitalized interest
80,254	65,123	37,902	39,963	7,061	0	0	0	10,562	4,303	12,177
Income taxes paid (received), net
5,843	-73,489	5,826	-5,579	95,933	89,104	85,705	40,204	1,477	562	1,974
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases
191,004	-	-	-	-	-	-	-	-	-	-
Financing cash flows for finance leases
674	-	-	-	-	-	-	-	-	-	-
Non-cash transactions:
Exchange of notes due to related parties for common stock
-	-	-	-	-	-	-	-	279,206	0	0
Exchange of mandatorily redeemable preferred stock for common stock
-	-	-	-	-	-	-	-	81,747	0	0
Liability and equity related to tax receivable agreement
-	-	-	-	-	-	2,336	1,497	-36,522	0	0
Capital expenditures funded by finance lease borrowings
45,608	987	1,370	31	0	173	3,234	0	0	-	-
Capital expenditures funded by operating lease borrowings
569,948	-	-	-	-	-	-	-	-	-	-