Windstream 2010 Annual Report Download - page 174

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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, 2010
(Millions) Parent Guarantors
Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income $ 310.7 $ 320.8 $ 339.2 $(660.0) $ 310.7
Adjustments to reconcile net income to net cash
provided from operations:
Depreciation and amortization - 273.7 419.9 - 693.6
Provision for doubtful accounts - 11.0 37.9 - 48.9
Equity in (earnings) losses from subsidiaries (573.0) (81.0) (6.0) 660.0 -
Stock-based compensation expense - 2.6 14.4 - 17.0
Pension expense - 9.4 52.5 - 61.9
Deferred taxes (13.4) 50.1 83.7 - 120.4
Other, net 15.9 6.7 (6.0) - 16.6
Pension contribution (41.7) - - - (41.7)
Changes in operating assets and liabilities, net (377.3) 442.7 (198.3) - (132.9)
Net cash provided from operations (678.8) 1,036.0 737.3 - 1,094.5
Cash Flows from Investing Activities:
Additions to property, plant and equipment - (107.5) (307.7) - (415.2)
Acquisition of NuVox, net of cash acquired (198.4) - - - (198.4)
Acquisition of Iowa Telecom, net of cash acquired (253.6) - - - (253.6)
Acquisition of Hosted Solutions, net of cash
acquired (312.8) - - - (312.8)
Acquisition of Q-Comm, net of cash acquired (279.1) - - - (279.1)
Other, net (1.7) 3.0 0.3 - 1.6
Net cash from (used in) investing activities (1,045.6) (104.5) (307.4) - (1,457.5)
Cash Flows from Financing Activities:
Dividends paid on common shares (464.6) - - - (464.6)
Dividends received from (paid to) subsidiaries 152.4 (17.1) (135.3) - -
Repayment of debt (528.9) (909.9) (276.2) - (1,715.0)
Proceeds of debt issuance, net of discount 1,562.0 - - - 1,562.0
Debt issuance costs (21.8) - - - (21.8)
Other, net (17.1) 2.7 (3.8) - (18.2)
Net cash used in financing activities 682.0 (924.3) (415.3) - (657.6)
Increase (decrease) in cash and cash equivalents (1,042.4) 7.2 14.6 - (1,020.6)
Cash and Cash Equivalents:
Beginning of period 1,046.5 1.2 15.2 - 1,062.9
End of period $ 4.1 $ 8.4 $ 29.8 $ - $ 42.3
F-74