Spirit airlines, inc. (SAVE)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Operating activities:
Net income (loss)

-27,828

81,214

83,464

114,501

56,076

91,937

97,480

11,254

-44,922

246,976

60,044

77,241

31,261

47,097

81,382

73,084

61,920

74,400

97,114

76,704

69,002

55,909

67,000

64,849

37,706

43,193

61,103

42,068

30,554

-

-

-

-

-

-

-

-

Adjustments to reconcile net income (loss) to net cash provided by operations:
Unrealized losses on open derivative contracts, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

2,018

-474

-3,783

0

0

0

0

3,224

5,655

-5,763

-3,381

-

-

-

-

-

-

-

-

Losses reclassified from other comprehensive income

-65

-95

-72

-74

-74

-77

-79

-80

-79

-83

-85

-83

-84

-621

89

88

90

-132

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

3,790

26

1,715

2,742

3,671

2,728

2,912

2,306

3,075

1,799

2,052

1,855

2,816

1,602

1,598

2,115

1,790

2,223

2,256

2,758

1,985

2,482

2,443

1,325

2,547

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for doubtful accounts (recoveries)

-

-

-

-

-

-

-

-

-

0

-2

-21

-30

-133

-8

196

25

5

-1

-23

31

18

-30

-20

-13

15

-28

130

26

-

-

-

-

-

-

-

-

Amortization of deferred gains, losses and debt issuance costs

2,106

2,114

2,175

2,076

2,289

2,311

1,956

2,928

1,624

1,529

1,654

1,410

3,351

1,895

1,027

842

1,968

435

333

233

164

43

-50

-89

-89

-106

-128

-129

-195

-

-

-

-

-

-

-

-

Equity-based compensation, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,420

-

-

-

-

-

-

-

-

Depreciation and amortization

65,991

61,913

57,712

54,913

50,726

47,963

43,773

45,618

39,373

36,472

36,840

35,331

31,509

27,766

25,304

24,957

23,109

22,278

19,628

17,139

14,863

13,168

11,338

11,344

11,121

9,544

8,475

7,604

6,324

-

-

-

-

-

-

-

-

Deferred income tax expense

36,367

24,001

47,177

32,864

11,647

25,060

38,847

2,662

-20,266

-98,325

33,044

45,315

19,474

7,712

31,817

24,744

21,066

91,654

63,401

6,119

-5,560

34,513

0

-805

410

3,252

2,833

3,430

2,532

-

-

-

-

-

-

-

-

Loss on disposal of assets

0

-500

-13,437

-1,563

-1,900

-3,000

-1,108

-4,644

-848

-1,086

-516

-1,493

-1,105

-3,021

-423

-529

-214

-304

-290

-415

-595

-1,350

-793

-715

-150

-99

-165

-91

-170

-

-

-

-

-

-

-

-

Lease termination costs

-

-

-

-

-

-

-

-

-

0

-7,853

0

-4,776

-5,580

-7,355

-8,052

-16,202

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Special charges, non-operating

-

-

-

-

-

0

1,800

79,400

9,200

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

-39,910

2,435

-6,753

7,180

23,285

-15,865

4,979

6,229

2,983

3,088

-1,762

-718

7,526

5,111

-4,822

8,433

4,229

-4,782

2,237

2,693

5,444

-3,812

-10,982

3,532

10,656

-4,577

-5,185

8,321

1,902

-

-

-

-

-

-

-

-

Aircraft maintenance deposits, net

1,330

-37,408

8,741

3,655

2,559

-3,476

679

3,622

-14,844

9,508

10,482

5,166

12,774

7,570

8,578

17,410

12,311

14,613

12,867

-7,696

12,317

2,970

14,669

-375

14,661

13,892

-6,475

9,838

6,803

-

-

-

-

-

-

-

-

Long-term deposits and other assets

666

-39,473

34,686

10,523

-20,735

-957

8,763

509

-3,512

-18,356

51,800

3,948

13,559

3,952

21,197

13,560

8,495

-22,086

33,364

4,770

6,160

11,933

9,429

11,329

15,691

28,592

758

24,563

11,741

-

-

-

-

-

-

-

-

Deferred heavy maintenance, net

35,564

52,658

34,949

44,189

44,161

68,738

27,376

43,555

50,712

66,205

-16,159

18,633

9,558

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax receivable

83,213

-680

21,693

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid income taxes

-

-

-

-

-

-

-

-

-

-160

-1,438

752

846

-6,060

3,226

2,834

-72,278

72,278

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

14,854

-314

-1,141

15,567

-13,543

-23,454

13,358

19,186

6,227

-7,799

-2,558

-2,550

18,937

221

-10,068

-1,679

4,703

366

-5,516

7,423

433

-4,510

-4,062

-2,919

1,457

-468

-215

6,344

-7,335

-

-

-

-

-

-

-

-

Air traffic liability

95,876

-45,808

-41,772

-11

111,020

-31,646

-34,020

453

93,483

-30,112

-34,935

4,289

104,285

-31,418

-44,568

20,058

46,473

-20,573

-33,096

10,706

79,350

-27,601

-15,595

2,003

62,328

-13,092

-25,056

29,984

44,390

-

-

-

-

-

-

-

-

Other liabilities

-75,541

46,867

-51,323

-24,558

30,712

50,142

-59,913

-33,970

117,779

16,327

1,827

13,900

-382

8,883

13,048

-8,027

33,296

1,958

-24,567

7,918

28,810

-9,834

14,317

-8,318

16,137

18,794

-14,171

-4,769

24,381

-

-

-

-

-

-

-

-

Other

-235

-129

-269

-260

-164

-239

-144

35

-27

41

100

124

115

206

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

34,582

192,924

17,373

135,873

205,151

197,965

57,510

79,853

171,135

37,916

63,597

150,689

173,038

31,724

79,220

102,722

258,099

103,995

69,356

130,099

169,535

55,535

62,160

53,496

90,639

21,745

39,371

49,067

85,193

24,824

-8,613

17,746

79,674

21,710

111,586

43,846

-5,944

Investing activities:
Purchase of available-for-sale investment securities

24,036

28,853

36,202

30,879

26,476

24,202

26,541

42,834

30,853

10,395

28,392

43,969

24,490

3,182

100,076

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the maturity and sale of available-for-sale investment securities

23,600

28,435

35,800

30,510

26,085

23,813

26,170

42,460

30,504

10,025

28,024

43,638

24,219

2,842

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,454

67

5,494

43

Pre-delivery deposits on flight equipment, net of refunds

123,044

-67,098

93,374

37,913

37,913

45,127

40,092

50,625

41,580

27,775

42,345

34,605

44,752

64,687

48,488

10,414

50,358

54,665

16,687

20,583

50,388

-153

21,946

20,808

73,201

28,960

21,580

4,621

15,127

5,809

11,555

-5,147

409

26,080

7,103

32,815

-12,724

Capitalized interest

2,860

3,067

2,771

2,660

2,276

2,613

1,938

2,678

1,500

4,251

1,679

4,728

1,647

3,802

2,478

1,979

2,575

7,452

-56

1,063

1,700

230

878

103

107

-140

36

95

9

-

-

-

-

-

-

-

-

Assets under construction for others

2,057

345

5,356

1,973

262

501

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property and equipment

195,371

-

-

-

63,109

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property and equipment

-

-

-

-

-

186,385

97,357

86,008

237,221

199,968

159,394

158,378

111,141

91,754

144,280

143,346

159,829

97,001

143,636

123,554

184,609

160,308

18,831

3,344

4,086

2,784

3,212

3,228

10,588

2,060

2,493

11,248

7,970

4,520

2,268

5,817

1,488

Net cash used in investing activities

-323,768

-156,873

-61,597

-134,508

-103,951

-233,115

-139,758

-130,185

-280,650

-232,364

-203,786

-198,042

-157,811

-160,583

-295,322

-155,689

-212,762

-159,118

-160,267

-145,200

-236,697

-161,473

-40,777

-24,152

-77,287

-31,744

-24,792

-7,849

-25,715

-7,869

-14,048

2,973

-8,379

-36,054

-9,304

-7,690

-14,169

Financing activities:
Proceeds from issuance of long-term debt

168,981

131,185

0

35,000

59,706

313,928

77,831

213,212

227,128

223,898

150,000

140,301

115,526

38,706

78,022

226,633

73,914

120,780

120,000

111,000

185,000

148,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net of offering expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-186

171,014

0

Proceeds from stock options exercised

16

0

0

1

0

46

3

0

2

0

16

29

0

0

0

4

88

0

9

8

15

34

77

24

39

177

120

106

449

59

107

90

213

-

-

-

-

Payments on debt obligations

42,561

120,869

40,129

47,884

37,901

44,050

32,576

41,999

18,650

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on finance lease obligations

24,846

939

93,812

1,557

239

154

163

205,206

197

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reimbursement for assets under construction for others

2,095

229

3,154

1,973

262

501

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on debt and capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

10,235

-

9,998

9,916

9,749

9,755

7,669

5,972

2,968

311

411

511

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale leaseback transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,900

113

6,800

0

5,627

-

-

-

-

Excess tax (deficiency) benefit from equity-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

27

14

267

-778

32

314

627

7,877

181

465

637

588

292

760

713

162

632

0

641

825

-

-

-

-

Repurchase of common stock

1,536

83

108

25

5,223

17

159

27

959

45,342

21

183

1,034

120

40,112

52,677

9,601

99

32,747

68,472

10,943

129

279

601

621

34

169

616

321

86

80

399

457

129

0

757

0

Debt issuance costs

3,695

2,295

0

215

399

4,081

1,340

1,743

201

7,844

1,732

1,890

2,274

0

0

73

34

1,100

9,423

1,693

2,976

4,727

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

98,454

7,228

-130,895

-12,707

16,206

266,173

43,596

-35,763

207,123

131,617

134,719

98,393

101,983

3,855

27,926

164,238

53,840

109,858

70,484

42,798

176,005

150,248

-148

-6,094

6

435

711

203

7,190

718

6,827

-26,573

6,208

6,699

233

149,701

0

Net increase (decrease) in cash and cash equivalents

-190,732

-

-

-

117,406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

231,023

-38,652

-86,095

97,608

-62,831

-5,470

51,040

117,210

-125,004

-188,176

111,271

99,177

54,735

-20,427

27,697

108,843

44,310

21,235

23,250

13,358

-9,564

15,290

41,421

66,668

17,673

-15,834

-5,854

77,503

-7,645

102,515

185,857

-20,113

Cash payments for:
Interest, net of capitalized interest

17,702

20,414

18,561

22,112

19,167

29,146

19,208

8,200

8,569

15,361

5,672

12,926

3,943

13,938

4,221

18,374

3,430

3,210

2,093

1,747

11

-398

72

326

0

-26

9

8

9

-297

10

275

12

2,343

5,604

1,466

1,149

Income taxes paid (received), net

-1,497

-2,445

894

6,578

816

-76,855

96

2,591

679

1,474

12

1,459

2,881

12,590

17,973

28,016

-64,158

798

40,937

44,315

9,883

220

36,791

48,875

3,218

24,763

16,136

43,874

932

854

17,531

20,333

1,486

1,098

192

64

123

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases

50,805

49,985

45,376

48,066

47,577

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating cash flows for finance leases

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Financing cash flows for finance leases

113

33

302

310

29

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash transactions:
Capital expenditures funded by finance lease borrowings

0

-50,763

0

94,879

1,492

-143,119

143,791

-236,727

237,042

0

0

1,240

130

0

0

0

31

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures funded by operating lease borrowings

85,787

380,461

29,939

31,357

128,191

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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