Swift Energy Company: 2001 Form 10-K, Consolidated Statements of Cash Flows

	Year ended December 31,

	2001	2000	1999
	--------------	--------------	--------------
Cash Flows from Operating Activities:
Net income (loss)	$ (22,347,765)	$ 59,184,008	$ 19,286,574
Adjustments to reconcile net income (loss) to net
cash provided by operating activities --
Depreciation, depletion, and amortization	59,502,040	47,771,393	42,348,901
Write-down of oil and gas properties	98,862,247	---	---
Deferred income taxes	(12,555,618)	33,413,626	10,435,115
Deferred revenue amortization related to
production payment	---	(587,629)	(1,056,284)
Other	509,973	1,075,848	628,614
Change in assets and liabilities--
(Increase) decrease in accounts receivable	16,207,377	(14,308,274)	(2,889,530)
Increase in accounts payable and accrued
liabilities, excluding income taxes payable	12,984	1,601,042	4,850,036
Increase (decrease) in income taxes payable	(306,983)	47,213	---
	--------------	--------------	--------------
Net Cash Provided by Operating Activities	139,884,255	128,197,227	73,603,426
	--------------	--------------	--------------

Cash Flows from Investing Activities:
Additions to property and equipment	(275,126,333)	(173,277,356)	(78,112,550)
Proceeds from the sale of property and equipment	9,274,440	3,844,375	4,531,935
Net cash received as operator of oil and gas
properties	5,927,539	19,769,213	5,995,842
Net cash received (distributed) as operator of
partnerships and joint ventures	(3,574,601)	2,674,593	(433,114)
Other	(534,898)	(1,329)	(131,135)
	--------------	--------------	--------------
Net Cash Used in Investing Activities	(264,033,853)	(146,990,504)	(68,149,022)
	--------------	--------------	--------------

Cash Flows from Financing Activities:
Proceeds from (payments of) long-term debt	---	(15,203,000)	124,045,000
Net proceeds from (payments of) bank borrowings	123,400,000	10,600,000	(146,200,000)
Net proceeds from issuances of common stock	1,633,508	2,697,561	42,719,776
Purchase of treasury stock	---	---	(1,462,740)
Payments of debt issuance costs	(721,756)	---	(3,501,441)
	--------------	--------------	--------------
Net Cash Provided by (Used in) Financing Activities	124,311,752	(1,905,439)	15,600,595
	--------------	--------------	--------------
Net Increase (Decrease) in Cash and Cash Equivalents	$ 162,154	$ (20,698,716)	$21,054,999

Cash and Cash Equivalents at Beginning of Year	1,986,932	22,685,648	1,630,649
	--------------	--------------	--------------
Cash and Cash Equivalents at End of Year	$ 2,149,086	$ 1,986,932	$ 22,685,648
	==========	==========	==========

Supplemental Disclosures of Cash Flows Information:

Cash paid during year for interest, net of amounts capitalized	$12,207,205	$15,528,280	$ 8,618,020
Cash paid during year for income taxes	$ 441,926	$ --	$ --

Non-Cash Financing Activity:
Conversion of convertible notes to common stock	$ ---	$ 99,797,000	$ ---

FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2001

Consolidated Statements of Cash Flows

Swift Energy Company and Subsidiaries

Go to...