Windstream 2010 Annual Report Download - page 136

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CONSOLIDATED STATEMENTS OF CASH FLOWS
For the years ended December 31,
(Millions) 2010 2009 2008
Cash Provided from Operations:
Net income $ 310.7 $ 334.5 $ 412.7
Adjustments to reconcile net income to net cash provided from operations:
Loss on sale of wireless business - - 21.3
Depreciation and amortization 693.6 537.8 494.5
Provision for doubtful accounts 48.9 44.0 38.7
Stock-based compensation expense 17.0 17.4 18.1
Pension expense 61.9 91.8 (0.9)
Deferred taxes 120.4 96.8 110.0
Other, net 16.6 11.3 32.9
Pension contribution (41.7) (3.3) (0.8)
Changes in operating assets and liabilities, net
Accounts receivable (42.8) (3.4) (25.1)
Prepaid and other expenses 4.7 (1.6) 3.1
Prepaid income taxes (46.6) (16.3) -
Accounts payable (18.1) (1.7) (29.2)
Accrued interest 26.6 4.4 (1.1)
Accrued taxes (10.1) 12.6 5.4
Other liabilities (28.9) (11.8) (12.3)
Other, net (17.7) 8.3 13.1
Net cash provided from operations 1,094.5 1,120.8 1,080.4
Cash Flows from Investing Activities:
Additions to property, plant and equipment (415.2) (298.1) (317.5)
Acquisition of D&E, net of cash acquired - (56.6) -
Acquisition of Lexcom, net of cash acquired - (138.7) -
Acquisition of NuVox, net of cash acquired (198.4) - -
Acquisition of Iowa Telecom, net of cash acquired (253.6) - -
Acquisition of Hosted Solutions, net of cash acquired (312.8) - -
Acquisition of Q-Comm, net of cash acquired (279.1) - -
Disposition of wireless business - - 56.7
Disposition of acquired assets held for sale - - 17.8
Other, net 1.6 0.6 9.9
Net cash used in investing activities (1,457.5) (492.8) (233.1)
Cash Flows from Financing Activities:
Dividends paid on common shares (464.6) (437.4) (445.2)
Stock repurchase - (121.3) (200.3)
Repayment of debt (1,715.0) (356.6) (354.3)
Proceeds of debt issuance, net of discount 1,562.0 1,083.6 380.0
Debt issuance costs (21.8) (33.8) -
Other, net (18.2) 3.8 (2.9)
Net cash (used in) provided from financing activities (657.6) 138.3 (622.7)
(Decrease) increase in cash and cash equivalents (1,020.6) 766.3 224.6
Cash and Cash Equivalents:
Beginning of period 1,062.9 296.6 72.0
End of period $ 42.3 $ 1,062.9 $ 296.6
Supplemental Cash Flow Disclosures:
Interest paid $ 493.3 $ 395.5 $ 412.5
Income taxes paid, net of refunds $ 120.6 $ 118.7 $ 175.6
The accompanying notes are an integral part of these consolidated financial statements.
F-36