Windstream 2009 Annual Report Download - page 193
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Windstream Corporation
Unaudited Pro Forma Results From Current Businesses
Reconciliations of Non-GAAP Financial Measures
Operating Income from Legacy Businesses
for the twelve months ended December 31:
(Dollars in millions) 2009
Operating income from continuing operations under GAAP ............ $ 956.9
Depreciation and amortization ............................... 537.8
OIBDA from current businesses .................................. 1,494.7
Adjustments prescribed by performance plan:
Merger and integration costs ................................. 22.3
D&E operating income post acquisition ........................ (4.5)
D&E depreciation and amortization post acquisition .............. (5.0)
Lexcom operating income post acquisition ...................... (1.1)
Lexcom depreciation and amortization post acquisition ............ (0.7)
Non-cash pension expense from Legacy businesses ............... 91.4
Adjusted OIBDA from Legacy businesses .......................... $1,597.1
Operating Income from Current Businesses
for the twelve months ended December 31:
(Dollars in millions) 2009 2008
Increase
(Decrease)
Amount %
Operating income from continuing operations under GAAP ............ $ 956.9 $1,132.4
Pro forma adjustments:
D&E operating income prior to acquisition ..................... 23.2 (10.9)
D&E intangible asset impairment ............................. 5.5 45.8
D&E intangible asset amortization ............................ (3.5) (3.9)
Lexcom operating income prior to acquisition ................... 13.7 15.6
Lexcom intangible asset amortization .......................... (1.5) (1.7)
Impairment loss on acquired assets held for sale ................. — 6.5
Operating income from disposed out of territory product
distribution operations .................................... (0.9) (3.7)
Merger and integration costs ................................. 22.3 6.2
Pro forma operating income from current businesses .................. 1,015.7 1,186.3
Depreciation and amortization ............................... 537.8 492.7
Depreciation and amortization of D&E prior to acquisition ......... 28.4 33.3
Depreciation and amortization of Lexcom prior to acquisition ...... 9.4 10.0
Pro forma OIBDA from current businesses ......................... 1,591.3 1,722.3
Other adjustments:
Pension expense ........................................... 91.9 1.8
Restructuring charges ...................................... 9.1 8.5
Restricted stock expense .................................... 18.4 18.6
Adjusted OIBDA .............................................. $1,710.7 $1,751.2 $(40.5) -2%
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