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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-87
18. Quarterly Financial Information – (Unaudited):
(Millions, except per share amounts)
Revenues and sales
Operating income
Net income (loss)
Basic and diluted earnings per share:
Net income (loss)
For the Year Ended December 31, 2011
Total
$ 4,285.7
$ 968.0
$ 172.3
$.33
4th
$ 1,209.8
$ 100.4
$(31.9)
($.06)
3rd
$ 1,023.2
$ 277.3
$ 78.1
$.15
2nd
$ 1,029.7
$ 298.4
$ 96.7
$.19
1st
$ 1,023.0
$ 291.9
$ 29.4
$.06
(Millions, except per share amounts)
Revenues and sales
Operating income
Net income
Basic and diluted earnings per share:
Net income
For the Year Ended December 31, 2010
Total
$ 3,710.7
$ 1,033.5
$ 312.7
$.66
4th
$ 980.6
$ 233.4
$ 56.5
$.10
3rd
$ 965.4
$ 280.3
$ 91.5
$.19
2nd
$ 916.9
$ 262.5
$ 84.1
$.18
1st
$ 847.8
$ 257.3
$ 80.6
$.19
Notes to Quarterly Financial Information:
Effective during the fourth quarter of 2011, we changed our method of recognizing actuarial gains and losses for pension
benefits. We have retrospectively adjusted financial information for all prior periods presented to reflect our voluntary change
in accounting principle for pension benefits. As discussed in Note 2, we have elected to revise certain historical results for
previously unrecorded immaterial errors. We concluded that the effects, individually and in the aggregate, are immaterial to all
periods presented. These changes had the following impacts:
(Millions, except per share amounts)
Revenues and sales
Operating income
Net income
Basic and diluted earnings per share:
Net income
Increase (Decrease) to Historical Accounting Method
For the Year Ended December 31, 2011
Total
$(1.8)
$(127.6)
$(78.7)
($.15)
4th
$(0.9)
$(153.5)
$(94.7)
($.18)
3rd
$(0.1)
$ 10.8
$ 6.6
$.01
2nd
$(0.7)
$ 5.6
$ 3.5
$.01
1st
$(0.1)
$ 9.5
$ 5.9
$.01
(Millions, except per share amounts)
Revenues and sales
Operating income
Net income
Basic and diluted earnings per share:
Net income
Increase (Decrease) to Historical Accounting Method
For the Year Ended December 31, 2010
Total
$(1.3)
$ 3.2
$ 2.0
$—
4th
$(0.4)
$(25.7)
$(15.9)
($.04)
3rd
$(0.4)
$ 10.1
$ 6.3
$.01
2nd
$(0.4)
$ 8.3
$ 5.1
$.01
1st
$(0.1)
$ 10.5
$ 6.5
$.02
Significant events affecting our historical operating trends in the quarterly periods were as follows:
• We completed the acquisition of PAETEC on November 30, 2011. The operating results from this business are
included in our results for periods subsequent to its acquisition (see Note 3).
• We completed the acquisitions of NuVox, Iowa Telecom, Hosted Solutions and Q-Comm on February 8, 2010, June 1,
2010, December 1, 2010 and December 2, 2010, respectively. The operating results from these businesses are included
in our results for periods subsequent to their acquisitions (see Note 3).