Windstream 2006 Annual Report Download - page 180

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Reconciliation of Pro Forma OIBDA from Current
Businesses achieved July 17, 2006 - December 31, 2006
1st Half of
2006
2nd Half of
2006 Year 2006
Operating income under GAAP $359.1 $539.7 $ 898.8
Pro forma adjustments:
Valor operating income 87.8 (6.9) 80.9
Customer list amortization (22.0) (2.0) (24.0)
Royalty expense 129.6 129.6
Restructuring and other charges 7.4 57.6 65.0
Discontinuance of SFAS No. 71 0.4 0.4
Depreciation and amortization 263.3 254.2 517.5
Pro forma OIBDA from current businesses $825.6 $842.6 $1,668.2
Less OIBDA from July 1, 2006 through July 16, 2006 (69.8)
Pro forma OIBDA from current businesses from July 17, 2006 through
December 31, 2006 $772.8
Reconciliation of the Leverage Ratio
for the twelve months ended December 31:
(Dollars in millions) 2006
Long-term debt, including current maturities $5,488.4
Cash and short-term investments (386.8)
Net debt (A) $5,101.6
Pro forma OIBDA from current businesses $1,668.2
Leverage Ratio (A)/(B) 3.1