Frontier Group Holdings, Inc.
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 18, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $(137) | $85 | $(11) |
| Adjustments to reconcile net income (loss) to cash used in operating activities: | |||
| Deferred income taxes | 3 | — | 43 |
| Depreciation and amortization | 91 | 72 | 50 |
| Gains recognized on sale-leaseback transactions | (302) | (294) | (147) |
| Loss on extinguishment of debt | — | 1 | — |
| Stock-based compensation | 21 | 16 | 14 |
| Amortization of cash flow hedges, net of tax | 1 | 1 | 1 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (12) | 22 | 33 |
| Supplies and other current assets | 11 | 20 | (7) |
| Aircraft maintenance deposits | — | 82 | (16) |
| Other long-term assets | (257) | (190) | (163) |
| Accounts payable | (1) | (15) | 47 |
| Air traffic liability | 58 | 41 | (60) |
| Other liabilities | (1) | 77 | (45) |
| Cash used in operating activities | (525) | (82) | (261) |
| Cash flows from investing activities: | |||
| Capital expenditures | (75) | (76) | (51) |
| Pre-delivery deposits for flight equipment, net of refunds | (24) | 3 | (36) |
| Other | — | (2) | (3) |
| Cash used in investing activities | (99) | (75) | (90) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of debt, net of issuance costs | 492 | 476 | 171 |
| Principal repayments on debt | (380) | (447) | (131) |
| Proceeds from sale-leaseback transactions, net | 441 | 264 | 163 |
| Proceeds from the exercise of stock options | 6 | 1 | 1 |
| Tax withholdings on share-based awards | (4) | (6) | (5) |
| Cash provided by financing activities | 555 | 288 | 199 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (69) | 131 | (152) |
| Cash, cash equivalents and restricted cash, beginning of period | 740 | 609 | 761 |
| Cash, cash equivalents and restricted cash, end of period | $671 | $740 | $609 |
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