Windstream 2009 Annual Report Download - page 188

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
15. Supplemental Guarantor Information, Continued:
Condensed Consolidated Statement of Cash Flows
For the Year Ended December 31, 2009
(Millions) Parent Guarantors
Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income $ 334.5 $ 279.4 $ 353.0 $ (632.4) $ 334.5
Adjustments to reconcile net income to net cash
provided from operations:
Depreciation and amortization - 191.1 346.7 - 537.8
Provision for doubtful accounts - 10.4 33.6 - 44.0
Equity in (earnings) losses from subsidiaries (574.9) (55.7) (1.8) 632.4 -
Stock-based compensation expense - 2.0 15.4 - 17.4
Pension and postretirement benefits expense - 27.5 69.6 - 97.1
Deferred taxes 40.4 36.9 19.5 - 96.8
Other, net 4.5 (0.2) 1.7 - 6.0
Changes in operating assets and liabilities, net 598.8 146.0 (757.6) - (12.8)
Net cash provided from operations 403.3 637.4 80.1 - 1,120.8
Cash Flows from Investing Activities:
Additions to property, plant and equipment - (71.1) (227.0) - (298.1)
Acquisition of D&E, net of cash acquired (56.6) - - - (56.6)
Acquisition of Lexcom, net of cash acquired (138.7) - - - (138.7)
Other, net - 0.6 - - 0.6
Net cash from (used in) investing activities (195.3) (70.5) (227.0) - (492.8)
Cash Flows from Financing Activities:
Dividends paid on common shares (437.4) - - - (437.4)
Dividends received from (paid to) subsidiaries 224.7 (43.5) (181.2) - -
Stock repurchase (121.3) - - - (121.3)
Repayment of debt (163.9) (182.7) (10.0) - (356.6)
Proceeds of debt issuance, net of discount 1,083.6 - - - 1,083.6
Debt issuance costs (33.8) - - - (33.8)
Other, net 3.8 (340.5) 340.5 - 3.8
Net cash used in financing activities 555.7 (566.7) 149.3 - 138.3
Increase (decrease) in cash and cash equivalents 763.7 0.2 2.4 - 766.3
Cash and Cash Equivalents:
Beginning of period 282.8 1.0 12.8 - 296.6
End of period $ 1,046.5 $ 1.2 $ 15.2 $ - $ 1,062.9
F-74