Windstream 2009 Annual Report Download - page 189

Download and view the complete annual report

Please find page 189 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.

Page out of 196

  • 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
15. Supplemental Guarantor Information, Continued:
Condensed Consolidated Statement of Cash Flows
For the Year Ended December 31, 2008
(Millions) Parent Guarantors
Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income $ 412.7 $ 222.2 $ 548.4 $ (770.6) $ 412.7
Adjustments to reconcile net income to net cash
provided from operations:
Loss on sale of wireless business - - 21.3 - 21.3
Depreciation and amortization - 169.5 325.0 - 494.5
Provision for doubtful accounts - 6.9 31.8 - 38.7
Equity in (earnings) losses from subsidiaries (701.3) (69.4) 0.1 770.6 -
Stock-based compensation expense - 2.5 15.6 - 18.1
Pension and postretirement benefits expense - 1.4 12.5 - 13.9
Deferred taxes (24.0) 47.9 86.1 - 110.0
Other, net 12.3 (1.2) 7.0 - 18.1
Changes in operating assets and liabilities, net 770.2 (266.1) (551.0) - (46.9)
Net cash provided from operations 469.9 113.7 496.8 - 1,080.4
Cash Flows from Investing Activities:
Additions to property, plant and equipment - (79.3) (238.2) - (317.5)
Disposition of wireless business 56.7 - - - 56.7
Disposition of acquired assets held for sale - 17.8 - - 17.8
Other, net - 3.4 6.5 - 9.9
Net cash provided from (used in) investing activities 56.7 (58.1) (231.7) - (233.1)
Cash Flows from Financing Activities:
Dividends paid on common shares (445.2) - - - (445.2)
Dividends received from (paid to) subsidiaries 320.3 (53.7) (266.6) - -
Stock repurchase (200.3) - - - (200.3)
Repayment of debt (344.0) (0.3) (10.0) - (354.3)
Proceeds of debt issuance, net of discount 380.0 - - - 380.0
Other, net (1.8) (1.8) 0.7 - (2.9)
Net cash used in financing activities (291.0) (55.8) (275.9) - (622.7)
Increase (decrease) in cash and cash equivalents 235.6 (0.2) (10.8) - 224.6
Cash and Cash Equivalents:
Beginning of period 47.2 1.2 23.6 - 72.0
End of period $ 282.8 $ 1.0 $ 12.8 $ - $ 296.6
F-75