Windstream 2007 Annual Report Download - page 166

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
15. Supplemental Guarantor Information, Continued:
(Millions)
Condensed Consolidated Statement of Cash Flows
For the Year Ended December 31, 2006
Parent Guarantors
Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income $ 545.3 $ 145.6 $ 545.8 $(691.4) $ 545.3
Adjustments to reconcile net income to net cash provided
from operations:
Extraordinary item, net of income taxes - (36.3) (63.4) - (99.7)
Depreciation and amortization - 116.6 333.0 - 449.6
Provision for doubtful accounts - 8.5 9.9 - 18.4
Equity in earnings (losses) from subsidiary (688.5) (9.4) 6.5 691.4 -
Stock-based compensation expense - 0.3 1.6 - 1.9
Pension and postretirement benefits expense - 4.4 28.4 - 32.8
Deferred taxes 14.5 5.5 10.2 - 30.2
Other, net 1.5 0.6 4.7 - 6.8
Changes in operating assets and liabilities, net: (837.4) 809.9 187.9 - 160.4
Net cash provided from (used in) operations (964.6) 1,045.7 1,064.6 - 1,145.7
Cash Flows from Investing Activities:
Additions to property, plant and equipment - (32.0) (341.8) - (373.8)
Cash acquired from Valor 69.0 - - - 69.0
Other, net 0.4 (23.0) 28.4 - 5.8
Net cash provided from (used in) investing activities 69.4 (55.0) (313.4) - (299.0)
Cash Flows from Financing Activities:
Dividends paid on common shares (97.3) (4.9) - - (102.2)
Dividends paid to Alltel pursuant to spin off (2,275.1) - - - (2,275.1)
Dividends paid to Alltel prior to spin off - - (99.0) - (99.0)
Dividends received from (paid to) subsidiaries 443.3 (150.2) (293.1) - -
Repayment of debt - (795.6) (75.8) - (871.4)
Debt issued, net of issuance costs 3,156.1 - - - 3,156.1
Changes in advances to Alltel prior to spin off - (46.5) (264.3) - (310.8)
Other, net 30.6 - - - 30.6
Net cash provided from (used in) financing activities 1,257.6 (997.2) (732.2) - (471.8)
Increase (decrease) in cash and short-term investments 362.4 (6.5) 19.0 - 374.9
Cash and Short-term Investments:
Beginning of the year - 7.1 4.8 - 11.9
End of the year $ 362.4 $ 0.6 $ 23.8 $ - $ 386.8
F-80