Windstream 2006 Annual Report Download - page 136

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CONSOLIDATED STATEMENTS OF CASH FLOWS
For the years ended December 31,
(Millions) 2006 2005 2004
Cash Provided from Operations:
Net income $ 545.3 $ 374.3 $ 386.3
Adjustments to reconcile net income to net cash provided from operations:
Cumulative effect of accounting change, net of income taxes - 7.4 -
Depreciation and amortization 449.6 474.2 508.5
Provision for doubtful accounts 18.4 29.2 38.3
Extraordinary item, net of income taxes (99.7) - -
Deferred taxes 30.2 3.1 66.1
Other, net 16.6 1.8 5.8
Changes in operating assets and liabilities, net of effects of
acquisitions and dispositions:
Accounts receivable (40.9) (6.9) (9.0)
Accounts payable 20.5 36.3 (5.4)
Accrued interest 131.0 (0.3) -
Accrued taxes 40.9 39.7 (16.6)
Other liabilities 36.2 0.8 1.2
Other, net (22.9) (5.0) (6.9)
Net cash provided from operations 1,125.2 954.6 968.3
Cash Flows from Investing Activities:
Additions to property, plant and equipment (373.8) (356.9) (337.8)
Cash acquired from Valor 69.0 - -
Other, net 5.8 3.3 2.2
Net cash used in investing activities (299.0) (353.6) (335.6)
Cash Flows from Financing Activities:
Dividends paid on common shares (102.2) - -
Dividends paid to Alltel pursuant to spin-off (2,275.1) - -
Dividends paid to Alltel prior to spin-off (99.0) (233.6) (239.1)
Repayments of borrowings (871.4) (22.1) (22.1)
Debt issued 3,156.1 - -
Changes in advances to Alltel prior to spin-off (290.3) (346.7) (365.9)
Other 30.6 - -
Net cash used in financing activities (451.3) (602.4) (627.1)
Effect of exchange rate changes on cash and short-term investments - - (0.1)
Increase (decrease) in cash and short-term investments 374.9 (1.4) 5.5
Cash and Short-term Investments:
Beginning of the year 11.9 13.3 7.8
End of the year $ 386.8 $ 11.9 $ 13.3
The accompanying notes are an integral part of these consolidated financial statements.
F-35