Windstream 2013 Annual Report Download - page 221
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-85
14. Supplemental Guarantor Information, Continued:
Condensed Consolidated Statement of Cash Flows
For the Year Ended December 31, 2011
(Millions) Windstream
Corp. Guarantors Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income $ 169.5 $ 246.0 $ 235.2 $ (481.2) $ 169.5
Adjustments to reconcile net income to net cash
provided from operations:
Depreciation and amortization — 320.3 527.2 — 847.5
Provision for doubtful accounts — 11.3 37.2 — 48.5
Equity in (earnings) losses from subsidiaries (477.7) 1.2 (4.7) 481.2 —
Share-based compensation expense — 5.6 18.5 — 24.1
Pension expense — 23.4 143.4 — 166.8
Deferred income taxes 10.3 19.8 143.7 — 173.8
Unamortized net discount on retired debt 21.2 — — — 21.2
Amortization of unrealized losses on
de-designated interest rate swaps 49.0 — — — 49.0
Plan curtailment and other, net 18.6 (3.0)(18.7) — (3.1)
Changes in operating assets and liabilities, net (316.2) 42.8 4.9 — (268.5)
Net cash (used in) provided from operations (525.3) 667.4 1,086.7 — 1,228.8
Cash Flows from Investing Activities:
Additions to property, plant and equipment —(206.4)(495.6) — (702.0)
Broadband network expansion funded by
stimulus grants —(5.2)(16.5) — (21.7)
Cash acquired from PAETEC — — 71.4 — 71.4
Changes in restricted cash (11.9) — — — (11.9)
Grant funds received for broadband
stimulus projects 4.0 — — — 4.0
Other, net 1.8 5.7 0.5 — 8.0
Net cash used in investing activities (6.1)(205.9)(440.2) — (652.2)
Cash Flows from Financing Activities:
Dividends paid to shareholders (509.6) — — — (509.6)
Repayment of debt and swaps (4,670.7) — (109.6) — (4,780.3)
Proceeds of debt issuance 4,922.0 — — — 4,922.0
Debt issuance costs (30.6) — — — (30.6)
Intercompany transactions, net 933.3 (474.8)(458.5) — —
Payment under capital lease obligations —(0.7)(0.1) — (0.8)
Other, net (1.7) 12.7 (3.6) — 7.4
Net cash provided from (used in)
financing activities 642.7 (462.8)(571.8) — (391.9)
Increase (decrease) in cash and cash equivalents 111.3 (1.3) 74.7 — 184.7
Cash and Cash Equivalents:
Beginning of period 4.1 8.4 29.8 — 42.3
End of period $ 115.4 $ 7.1 $ 104.5 $ — $ 227.0