Frontier Group Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
ULCC$8.09-3.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(in millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $(11) | $(37) | $(102) |
| Deferred income taxes | 43 | (8) | (32) |
| Depreciation and amortization | 50 | 45 | 38 |
| Gains recognized on sale-leaseback transactions | (147) | (87) | (60) |
| Loss on extinguishment of debt | — | 7 | — |
| Warrant liability unrealized loss | — | — | 22 |
| Stock-based compensation | 14 | 15 | 11 |
| Amortization of cash flow hedges, net of tax | 1 | 1 | 1 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 33 | (28) | (14) |
| Supplies and other current assets | (7) | (40) | 174 |
| Aircraft maintenance deposits | (16) | (18) | (20) |
| Other long-term assets | (163) | (94) | (37) |
| Accounts payable | 47 | (4) | 13 |
| Air traffic liability | (60) | 40 | 138 |
| Other liabilities | (45) | 130 | 84 |
| Cash provided by (used in) operating activities | (261) | (78) | 216 |
| Cash flows from investing activities: | |||
| Capital expenditures | (51) | (41) | (27) |
| Pre-delivery deposits for flight equipment, net of refunds | (36) | (111) | (36) |
| Other | (3) | (2) | (4) |
| Cash used in investing activities | (90) | (154) | (67) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of debt, net of issuance costs | 171 | 273 | 163 |
| Principal repayments on debt | (131) | (266) | (97) |
| Proceeds from sale-leaseback transactions | 163 | 71 | 59 |
| Proceeds from initial public offering, net of offering costs, underwriting discounts and commissions | — | — | 266 |
| Proceeds from the exercise of stock options | 1 | 1 | 3 |
| Tax withholdings on share-based awards | (5) | (4) | (3) |
| Cash provided by financing activities | 199 | 75 | 391 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (152) | (157) | 540 |
| Cash, cash equivalents and restricted cash, beginning of period | 761 | 918 | 378 |
| Cash, cash equivalents and restricted cash, end of period | $609 | $761 | $918 |
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