Windstream 2014 Annual Report Download - page 190
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-74
10. Accumulated Other Comprehensive Income, Continued:
Reclassifications out of accumulated other comprehensive income were as follows for the years ended December 31:
Details about Accumulated Other
Comprehensive Income Components
(Millions)
Amount Reclassified from
Accumulated Other
Comprehensive Income Affected Line Item in the
Consolidated Statements
of Operations2014 2013
Losses on interest rate swaps:
Amortization of unrealized losses on
de-designated interest rate swaps $ 15.8 $ 35.9 Interest expense
15.8 35.9
(Loss) income from continuing
operations before income taxes
(6.0)(13.7) Income tax (benefit) expense
9.8 22.2 Net (loss) income
Pension and postretirement plans:
Plan curtailments and settlements (a) (10.0)(31.8)
Amortization of net actuarial loss (a) 0.1 1.7
Amortization of prior service credits (a) (5.9)(8.7)
(15.8)(38.8)
(Loss) income from continuing
operations before income taxes
6.1 14.7 Income tax (benefit) expense
(9.7)(24.1) Net (loss) income
Total reclassifications for the period,
net of tax $ 0.1 $ (1.9) Net (loss) income
(a) These accumulated other comprehensive income components are included in the computation of net periodic benefit
(income) expense. See Note 7 for additional details.
11. Income Taxes:
Income tax (benefit) expense was as follows for the years ended December 31:
(Millions) 2014 2013 2012
Current:
Federal $ 0.8 $ (27.0)$ 6.2
State (12.5)(2.5) 13.0
(11.7)(29.5) 19.2
Deferred:
Federal (18.3) 104.0 84.0
State 4.9 30.8 (5.0)
(13.4) 134.8 79.0
Income tax (benefit) expense $ (25.1) $ 105.3 $ 98.2
Deferred income tax (benefit) expense for all three years primarily resulted from temporary differences between depreciation and
amortization expense for income tax purposes and depreciation and amortization expense recorded in the accompanying
consolidated financial statements. Goodwill is not amortized for financial statement purposes in accordance with authoritative
guidance on goodwill and other intangible assets.