Windstream 2006 Annual Report Download - page 137

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CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
(Millions, except per share amounts)
Common
and
Treasury
Stock
Parent
Company
Investment
of Alltel
Additional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income (Loss)
Retained
Earnings Total
Balances at December 31, 2003 $ - $ 2,179.4 $ - $ 0.6 $ 1,745.6 $ 3,925.6
Net income - - - - 386.3 386.3
Other comprehensive income (loss), net of tax:
(See Note 11)
Foreign currency translation adjustment - - - (0.1) - (0.1)
Comprehensive income (loss) - - - (0.1) 386.3 386.2
Dividends paid to Alltel - - - - (239.1) (239.1)
Net change in advances to Alltel - (365.9) - - - (365.9)
Balances at December 31, 2004 $ - $ 1,813.5 $ - $ 0.5 $ 1,892.8 $ 3,706.8
Net and comprehensive income - - - - 374.3 374.3
Dividends paid to Alltel - - - - (233.6) (233.6)
Net change in advances to Alltel - (358.3) - - - (358.3)
Balances at December 31, 2005 $ - $ 1,455.2 $ - $ 0.5 $ 2,033.5 $ 3,489.2
Net income - - - - 545.3 545.3
Other comprehensive income (loss), net of tax:
(See Note 11)
Foreign currency translation adjustment - - - (0.5) - (0.5)
Unrealized holding loss on interest rate swaps - - - (23.6) - (23.6)
Comprehensive income (loss) - - - (24.1) 545.3 521.2
Dividends paid to Alltel - - - - (99.0) (99.0)
Net change in advances to Alltel - 72.2 - - - 72.2
Issuance of exchange notes to Alltel - (1,527.4) (185.4) - - (1,712.8)
Payment of special dividend to Alltel
pursuant to spin-off - - (81.9) - (2,193.3) (2,275.2)
Valuation of common stock held by Valor shareholders
(See Note 2) - - 815.9 - - 815.9
Stock-based compensation for restricted stock - - 1.9 - - 1.9
Adjustment to initially apply the recognition provisions
of SFAS No. 158, net of tax (see Notes 3 and 8) - - - (127.2) - (127.2)
Dividends of $0.45 per share declared to shareholders - - - - (216.4) (216.4)
Balances at December 31, 2006 $ - $ - $ 550.5 $ (150.8) $ 70.1 $ 469.8
The accompanying notes are an integral part of these consolidated financial statements.
F-36