Windstream 2009 Annual Report Download - page 148
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CONSOLIDATED STATEMENTS OF INCOME
For the years ended December 31,
(Millions, except per share amounts) 2009 2008 2007
Revenues and sales:
Service revenues $ 2,872.8 $ 2,988.9 $ 2,942.6
Product sales 123.8 182.6 303.3
Total revenues and sales 2,996.6 3,171.5 3,245.9
Costs and expenses:
Cost of services (excluding depreciation of $433.3, $394.4, and $404.4 in
2009, 2008 and 2007, respectively, included below) 1,006.8 1,005.4 1,008.6
Cost of products sold 107.5 169.8 187.4
Selling, general, administrative and other 356.0 356.5 381.2
Depreciation and amortization 537.8 492.7 506.0
Restructuring charges 9.3 8.5 4.6
Merger and integration costs 22.3 6.2 8.2
Total costs and expenses 2,039.7 2,039.1 2,096.0
Operating income 956.9 1,132.4 1,149.9
Other income, net (1.1) 2.1 11.1
Gain on sale of publishing business - - 451.3
Interest expense (410.2) (416.4) (444.4)
Income from continuing operations before income taxes 545.6 718.1 1,167.9
Income taxes 211.1 283.2 251.5
Income from continuing operations 334.5 434.9 916.4
Discontinued operations, including tax expense of $10.6 and $0.5,
respectively - (22.2) 0.7
Net income $ 334.5 $ 412.7 $ 917.1
Basic and diluted earnings per share:
Income from continuing operations $.76 $.98 $1.93
Loss from discontinued operations - (.05) -
Net income $.76 $.93 $1.93
The accompanying notes are an integral part of these consolidated financial statements.
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