Windstream 2008 Annual Report Download - page 161
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
11. Comprehensive Income (Loss):
Comprehensive income (loss) was as follows for the years ended December 31:
(Millions) 2008 2007 2006
Net income $ 412.7 $ 917.1 $ 545.3
Other comprehensive income (loss):
Defined benefit pension plans:
Prior service cost arising during the period (0.2) (0.1) -
Net actuarial gain (loss) arising during the period (394.9) 36.0 -
Less amounts included in net periodic benefit cost:
Amortization of prior service credit (0.1) (0.2) -
Recognition of net actuarial loss 6.1 24.1 -
Income tax benefit (expense) 148.0 (23.5) -
Change in pension plan (241.1) 36.3 -
Postretirement plan:
Transition asset arising during the period 3.5 - -
Prior service credit (cost) arising during the period 48.6 (1.0) -
Net actuarial gain arising during the period 8.8 53.6 -
Less amounts included in net periodic benefit cost:
Amortization of transition obligation 0.5 0.8 -
Amortization of prior service cost 0.2 1.9 -
Recognition of net actuarial loss 1.1 6.1 -
Income tax expense (16.1) (24.3) -
Change in postretirement plan 46.6 37.1 -
Change in employee benefit plans (194.5) 73.4 -
Unrealized holding loss on interest rate swaps (63.8) (40.8) (39.0)
Income tax benefit 24.7 15.2 15.4
Unrealized holding losses on interest rate swaps (39.1) (25.6) (23.6)
Foreign currency translation adjustment - - (0.5)
Comprehensive income $ 179.1 $ 964.9 $ 521.2
Accumulated other comprehensive loss balances, net of tax, were as follows for the years ended December 31:
(Millions) 2008 2007 2006
Pension and postretirement plans $ (248.3) $ (53.8) $ (127.2)
Unrealized holding losses on interest rate swaps (88.3) (49.2) (23.6)
Accumulated other comprehensive loss $ (336.6) $ (103.0) $ (150.8)
F-73