Windstream 2008 Annual Report Download - page 165
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
14. Business Segments, Continued:
directory publishing business (see Note 3). Prior to the split off, the Company’s publishing subsidiary coordinated
advertising, sales, printing, and distribution for 356 telephone directory contracts in 34 states. Immediately after
the consummation of the spin off and merger with Valor in July 2006, the telecommunications information
services operations no longer earned revenues or incurred expenses for providing data processing and outsourcing
services as Valor was its sole external customer.
The Company accounts for affiliated sales at current market prices, tariff rates, or negotiated prices. The
evaluation of segment performance is based on segment income, which is computed as revenues and sales less
operating expenses, excluding the effects of strategic transaction costs as discussed in Note 10. In addition,
non-operating items such as other income, net, gain on sale of assets, loss on extinguishment of debt,
intercompany interest income, interest expense and income taxes have not been allocated to the segments.
For the year ended December 31, 2008
(Millions) Wireline
Product
Distribution
Other
Operations
Totals
Segments
Revenues and sales from unaffiliated customers $ 3,058.8 $ 112.7 $ - $ 3,171.5
Affiliated revenues and sales 52.1 202.6 - 254.7
Total revenues and sales 3,110.9 315.3 - 3,426.2
Operating expenses 1,470.3 316.2 - 1,786.5
Depreciation and amortization 492.2 0.4 - 492.6
Restructuring charges 8.3 0.2 - 8.5
Total costs and expenses 1,970.8 316.8 - 2,287.6
Segment income $ 1,140.1 $ (1.5) $ - $ 1,138.6
Assets $ 7,972.0 $ 37.3 $ - $ 8,009.3
Capital expenditures $ 317.4 $ 0.1 $ - $ 317.5
For the year ended December 31, 2007
(Millions) Wireline
Product
Distribution
Other
Operations (a)
Totals
Segments
Revenues and sales from unaffiliated customers $ 3,016.6 $ 118.0 $ 111.3 $ 3,245.9
Affiliated revenues and sales 95.9 221.9 11.7 329.5
Total revenues and sales 3,112.5 339.9 123.0 3,575.4
Operating expenses 1,448.6 340.4 117.7 1,906.7
Depreciation and amortization 505.2 0.8 - 506.0
Restructuring charges 4.5 0.1 - 4.6
Total costs and expenses 1,958.3 341.3 117.7 2,417.3
Segment income $ 1,154.2 $ (1.4) $ 5.3 $ 1,158.1
Assets $ 8,119.8 $ 35.7 $ 85.7 $ 8,241.2
Capital expenditures $ 365.4 $ 0.1 $ 0.2 $ 365.7
(a) Other operations segment assets include $85.7 million in non-current assets of discontinued operations at
December 31, 2007.
F-77