Indianapolis Airport Authority - Indianapolis International Airport

indianapolis Airport Authority2010 to 2009 (Restated) Comparative Balance SheetsUnrestricted current assets decreased $1.5 million, which is primarily attributable to a decrease in cash andcash equivalents from airport operations.The increase in restricted current assets of $7.4 million primarily reflects an increase in restricted cash andcash equivalents of $6.5 million.Total noncurrent assets decreased by $3.9 million. This change is primarily attributable to a $34.1 milliondecrease in noncurrent cash, cash equivalents and investments and a $37.6 million decrease in thedeferred inflows/outflows related to the Authority’s derivative instruments, which is the result of theterminating event discussed in Note 8. These decreases are offset by an increase in net capital assets of$68.9 million due to the Authority’s normal capital activities and $146.2 million in contributions fromlessees offset by depreciation expense of $102.6 million.Total current liabilities decreased by $22.3 million. Accounts payable from restricted assets decreased$22.2 million, primarily related to paying off $25.0 million in commercial paper. Total noncurrent liabilitiespayable from restricted assets decreased $96.9 million, attributable to a decrease in bonds payableand other debt.2009 to 2008 Comparative Balance Sheets (Restated)Unrestricted current assets decreased $14.3 million, which is primarily a decrease in grants receivable of$8.2 million and a decrease in cash and cash equivalents of $4.5 million from airport operations.The increase in restricted current assets of $14.3 million primarily reflects an increase in restricted cash andcash equivalents of $14.1 million.Total noncurrent assets decreased by $139.3 million. Restricted cash and cash equivalents and investmentsecurities decreased by $50.4 million, primarily due to payments made to construct the New IndianapolisAirport. The market value of the interest rate swaps related to the 2008 bonds decreased by $38.7 millionand the value of the forward delivery agreements decreased by $20.3 million. Total depreciable andnondepreciable capital assets decreased $42.8 million.Total current liabilities decreased by $39.0 million. Total current liabilities payable from unrestricted assetsdecreased by $1.5 million. Accounts payable from restricted assets decreased $37.6 million as related toprior year construction relating to the new terminal. This is offset by an increase in the current portion ofdebt and accrued interest on debt of $25.0 million, relating to outstanding commercial paper. Total noncurrentliabilities payable from restricted assets decreased $91.0 million, attributable to a $31.9 milliondecrease in bonds payable and other debt as well as an adjustment to the value of the interest rate swapsof $59.0 million.