Windstream 2010 Annual Report Download - page 179

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WINDSTREAM CORPORATION
UNAUDITED CONSOLIDATED RESULTS (NON-GAAP)
QUARTERLY SUPPLEMENTAL INFORMATION
for the year 2010
(In millions)
2010
Total
ADJUSTED FREE CASH FLOW (A):
Operating income $1,030.3
Depreciation and amortization 693.6
As reported OIBDA 1,723.9
Merger and integration expense 77.3
Pension expense 61.9
Restructuring expense 7.7
Stock-based compensation 17.0
As reported adjusted OIBDA 1,887.8
Adjustments:
Pension contribution (41.0)
Capital expenditures (415.2)
Cash paid for interest expense (493.3)
Cash paid for taxes (120.6)
Adjusted free cash flow $ 817.7
Dividends paid $ 464.6
Dividend payout ratio 56.8%
(A) The adjusted free cash flow reflects the combined operations of Windstream with D&E Communications, Inc. (“D&E”), Lexcom Inc.
(“Lexcom”), NuVox, Inc. (“NuVox”), Iowa Telecommunications Services, Inc. (“Iowa Telecom”), Hosted Solutions Acquisition, LLC (“Hosted
Solutions”) and Q-Comm Corporation (“Q-Comm”) for the periods following their respective acquisition dates, as reported under GAAP.