Windstream 2013 Annual Report Download - page 219

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-83
14. Supplemental Guarantor Information, Continued:
Condensed Consolidated Statement of Cash Flows
For the Year Ended December 31, 2013
(Millions) Windstream
Corp. Guarantors Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income $ 241.3 $ 300.1 $ 248.9 $ (549.0) $ 241.3
Adjustments to reconcile net income to net cash
provided from operations:
Depreciation and amortization — 317.3 1,024.2 — 1,341.5
Provision for doubtful accounts — 11.0 52.5 — 63.5
Equity in earnings from subsidiaries (500.0)(44.0)(5.0) 549.0 —
Share-based compensation expense — 7.1 37.8 — 44.9
Pension income — (17.8)(97.5) — (115.3)
Deferred income taxes 36.2 12.2 86.4 — 134.8
Unamortized net discount (premium) on
retired debt 3.1 — (41.2) — (38.1)
Amortization of unrealized losses on
de-designated interest rate swaps 35.9 — — — 35.9
Gain from sale of software business — — (14.4) — (14.4)
Plan curtailment and other, net 27.5 (3.1)(40.2) — (15.8)
Changes in operating assets and liabilities, net (24.1) 14.9 (149.3) — (158.5)
Net cash (used in) provided from operations (180.1) 597.7 1,102.2 — 1,519.8
Cash Flows from Investing Activities:
Additions to property, plant and equipment — (153.5)(687.5) — (841.0)
Broadband network expansion funded by
stimulus grants —(4.9)(31.2) — (36.1)
Changes in restricted cash 15.3 — 1.5 — 16.8
Grant funds received for broadband
stimulus projects 68.0 — — — 68.0
Grant funds received from Connect America Fund — 21.9 38.8 — 60.7
Disposition of software business — — 30.0 — 30.0
Other, net — — (6.0) — (6.0)
Net cash provided from (used in)
investing activities 83.3 (136.5)(654.4) — (707.6)
Cash Flows from Financing Activities:
Dividends paid to shareholders (444.6) — — — (444.6)
Distributions to Windstream Holdings (0.4) — (149.0) — (149.4)
Repayment of debt and swaps (4,500.9) — (660.1) — (5,161.0)
Proceeds of debt issuance 4,919.6 — — — 4,919.6
Debt issuance costs (30.0) — — — (30.0)
Intercompany transactions, net 116.0 (480.5) 364.5 — —
Payment under capital lease obligations — — (23.9) — (23.9)
Other, net (6.7) 3.6 (3.6) — (6.7)
Net cash provided from (used in)
financing activities 53.0 (476.9)(472.1) — (896.0)
Decrease in cash and cash equivalents (43.8)(15.7)(24.3) — (83.8)
Cash and Cash Equivalents:
Beginning of period 57.5 19.8 54.7 — 132.0
End of period $ 13.7 $ 4.1 $ 30.4 $ — $ 48.2