20220823Question_11 NWF 2021 Balance Sheet.pdf

NORTHWEST FIBER, LLC
Consolidated Balance Sheets
(Dollars in millions)
F-4

NORTHWEST FIBER, LLC
Combined and Consolidated Statements of Operations
(Dollars in millions)
F-5

NORTHWEST FIBER, LLC
Combined and Consolidated Statements of Cash Flow
(Dollars in millions)
F-8
Successor Predecessor
Twelve months May 1, 2020
ended to January 1, 2020
December 31, December 31, to
2021 2020 April 30, 2020
Cash flows provided by operating activities:
Net (loss) income $ (128) (36) 18
Adjustments to reconcile net (loss) income to net cash
provided by operating activities:
Depreciation and amortization 186 116 42
Loss on debt extinguishment 48
Loss on asset retirement 3
Amortization of deferred financing costs 3 6
Deferred income taxes (6)
Pension contribution (8) (62)
Transaction costs paid at acquisition (24)
Change in accounts receivable 2 4 (3)
Change in accounts payable and other liabilities 7 35 4
Change in prepaid expenses, income taxes and
other assets (3) (19) 10
Net cash provided by operating activities 110 20 65
Cash flows used in investing activities:
Capital expenditures (414) (199) (38)
Redemption of short-term investments 125
Purchase of short-term investments (125)
Acquisition of Frontier Northwest (2) (1,187)
Net cash used in investing activities (291) (1,511) (38)
Cash flows provided by (used in) financing activities:
Net parent investment (25)
Issuance of new debt 1,150 1,041
Debt issuance costs and debt prepayment penalty (15) (62)
Debt principal repayment (791) (4)
Equity financing (members contributions) 706
Finance lease obligation payments (4) (2) (2)
Net cash provided by (used in) financing
activities 340 1,679 (27)
Increase in cash and cash equivalents 159 188
Cash and cash equivalents at beginning of the period, 188
Cash and cash equivalents, ending balance, $ 347 188
Cash paid during the period for:
Interest $ 65 40
Income tax payments, net 1
See accompanying notes to consolidated financial statements.