Windstream 2009 Annual Report Download - page 178
Download and view the complete annual report
Please find page 178 of the 2009 Windstream annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168 -
169 -
170 -
171 -
172 -
173 -
174 -
175 -
176 -
177 -
178 -
179 -
180 -
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
 |
 |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
10. Merger, Integration and Restructuring Charges, Continued:
(g) Merger and integration costs for 2007 were revised to reflect that $1.1 million in costs incurred were
associated with the wireless business, which is presented as discontinued operations in the accompanying
consolidated statements of income. An additional $0.8 million in non-cash merger and integrations costs
incurred in 2008 associated with the wireless business are included in discontinued operations.
Merger, integration and restructuring charges decreased net income $19.4 million, $9.0 million and $8.8 million
for the years ended December 31, 2009, 2008 and 2007, respectively, giving consideration to tax benefits on
deductible items.
The following is a summary of the activity related to the liabilities associated with the Company’s merger,
integration and restructuring charges at December 31:
(Millions) 2009 2008
Balance beginning of period $ 8.3 $ 14.7
Merger, integration and restructuring charges net of non-cash charges 31.6 10.1
Cash outlays during the period (33.3) (16.5)
Balance end of period $ 6.6 $ 8.3
As of December 31, 2009, the remaining liability of $6.6 million for accrued merger, integration and restructuring
charges consisted of $0.4 million of Valor lease termination costs and $6.2 million of accrued severance costs
primarily associated with the integration of D&E and Lexcom. Valor lease payments will be made over the
remaining term of the lease. The severance and related employee costs will be paid in 2010. Each of these
payments will be funded through operating cash flows.
F-64