Windstream 2008 Annual Report Download - page 129
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CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(Millions, except per share amounts)
Parent
Company
Investment
of Alltel
Additional
Paid-In
Capital
Accumulated
Other
Comprehensive
Income (Loss)
Retained
Earnings Total
Balance 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 losses on interest rate swaps - - (23.6) - (23.6)
Comprehensive income (loss) - - (24.1) 545.3 521.2
Dividends paid to Alltel prior to spin off - - - (99.0) (99.0)
Net change in advances to Alltel 72.2 - - - 72.2
Issuance of exchange notes to Alltel (1,527.4) (185.5) - - (1,712.9)
Payment of special dividend to Alltel pursuant to spin
off - (81.8) - (2,193.3) (2,275.1)
Valuation of common stock held by Valor
shareholders (Note 3) - 815.9 - - 815.9
Stock-based compensation expense - 1.9 - - 1.9
Adjustment to initially apply the recognition
provisions of SFAS
No. 158, net of tax (Notes 2 and 8) - - (127.2) - (127.2)
Dividends of $0.45 per share declared to stockholders - - - (216.4) (216.4)
Balance at December 31, 2006 $ - $ 550.5 $ (150.8) $ 70.1 $ 469.8
Net income - - - 917.1 917.1
Other comprehensive income (loss), net of tax: (See
Note 11)
Change in employee benefit plans - - 73.4 - 73.4
Unrealized holding losses on interest rate swaps - - (25.6) - (25.6)
Comprehensive income - - 47.8 917.1 964.9
Additional transfers from Alltel (Note 7) - 15.1 - - 15.1
Stock-based compensation expense - 15.9 - - 15.9
Common shares retired pursuant to split off of
directory
business (Note 3) - (253.5) - - (253.5)
Stock repurchase - (40.1) - - (40.1)
Other, net - (1.1) - - (1.1)
Dividends of $1.00 per share declared to stockholders - - - (471.2) (471.2)
Balance at December 31, 2007 $ - $ 286.8 $ (103.0) $ 516.0 $ 699.8
Net income - - - 412.7 412.7
Other comprehensive income (loss), net of tax: (See
Note 11)
Change in employee benefit plans - - (194.5) - (194.5)
Unrealized holding losses on interest rate swaps - - (39.1) - (39.1)
Comprehensive income (loss) - - (233.6) 412.7 179.1
Stock repurchase - (200.3) - - (200.3)
Stock-based compensation expense - 18.1 - - 18.1
Tax withheld on vested restricted stock and other - (3.1) - - (3.1)
Dividends of $1.00 per share declared to stockholders - - - (441.3) (441.3)
Balance at December 31, 2008 $ - $ 101.5 $ (336.6) $ 487.4 $ 252.3
The accompanying notes are an integral part of these consolidated financial statements.
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