RAILAMERICA INC /DE

CIK:0000887637|SEC Filings

Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2012

Common Stock Transactions / Accumulated Other Comprehensive Income [Abstract]

11. ACCUMULATED OTHER COMPREHENSIVE INCOME

At June 30, 2012, accumulated other comprehensive income consisted of the following (in thousands):


	Foreign Currency Translation Adjustments		Interest Rate Swap Derivatives			Pension and Postretirement Benefit Plans			Accumulated Other Comprehensive Income
Balance at January 1, 2012	$	11,533	$	(5,609	)	$	(1,918	)	$	4,006
Current period other comprehensive income (loss)		285		2,503			(573	)		2,215

Balance at June 30, 2012	$	11,818	$	(3,106	)	$	(2,491	)	$	6,221

The foreign currency translation adjustments for the six months ended June 30, 2012 related primarily to the Company’s operations with a functional currency in Canadian dollars.

Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (29,022)	$ 12,785
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization, including amortization of debt issuance costs classified in interest expense	23,825	25,864
Amortization of swap termination costs	2,954	6,878
Net loss (gain) on sale of assets	(158)	143
Impairment of assets		3,220
Loss on extinguishment of debt	88,107
Equity compensation costs	7,647	4,979
Deferred income taxes and other	(18,022)	1,533
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(5,230)	(23,767)
Other current assets	(6,817)	(10,031)
Accounts payable	9,471	11,914
Accrued expenses	339	19,691
Other assets and liabilities	218	(481)
Net cash provided by operating activities	73,312	52,728
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(42,914)	(36,185)
NECR government grant reimbursements	3,681	6,954
Proceeds from sale of assets	4,513	2,788
Acquisitions, net of cash acquired	(55,443)	(12,706)
Other	(238)	(45)
Net cash used in investing activities	(90,401)	(39,194)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term debt	(1,588)	(263)
Proceeds from issuance of long-term debt	582,075
Repurchase of senior secured notes	(649,720)
Repayment of revolving credit facility	(7,000)
Proceeds from revolving credit facility	65,000
Repurchase of common stock	(520)	(50,091)
Financing costs paid	(11,179)	(119)
Net cash used in financing activities	(22,932)	(50,473)
Effect of exchange rates on cash	9	453
Net decrease in cash	(40,012)	(36,486)
Cash, beginning of period	90,999	152,968
Cash, end of period	$ 50,987	$ 116,482

Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 50,987	$ 90,999
Accounts and notes receivable, net of allowance of $ 8, 817 and $7,291, respectively	105,747	96,813
Current deferred tax assets	13,659	9,886
Other current assets	24,967	17,967
Total current assets	195,360	215,665
Property, plant and equipment, net	1,051,479	1,021,545
Intangible assets	175,202	134,851
Goodwill	233,922	211,841
Other assets	12,615	13,478
Total assets	1,668,578	1,597,380
Current liabilities:
Current maturities of long-term debt	64,120	71,991
Accounts payable	101,502	78,844
Accrued expenses	29,468	28,616
Total current liabilities	195,090	179,451
Long-term debt, less current maturities	576,628	1,827
Senior secured notes		501,876
Deferred income taxes	200,512	213,421
Other liabilities	31,825	20,680
Total liabilities	1,004,055	917,255
Commitments and contingencies
Stockholders' Equity:
Common stock, $0.01 par value, 400,000,000 shares authorized; 50,396,991 shares issued and outstanding at June 30, 2012; and 50,605,440 shares issued and outstanding at December 31, 2011	504	506
Additional paid in capital and other	594,988	591,341
Retained earnings	55,337	84,272
Accumulated other comprehensive income	6,221	4,006
Total stockholders' equity	657,050	680,125
Noncontrolling interest	7,473
Total equity	664,523	680,125
Total liabilities and equity	$ 1,668,578	$ 1,597,380