Windstream 2015 Annual Report Download - page 214

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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F-84
12. Other Income (Expense), Net:
Set forth below is a summary of other income (expense), net for the years ended December 31:
(Millions) 2015 2014 2013
Interest income $ 1.3 $ 1.0 $ 1.0
Dividend income on CS&L common stock 48.4 — —
Gain (loss) on disposal (a) 10.7 — (6.4)
Other income (expense), net 0.8 (0.6)(8.7)
Ineffectiveness of interest rate swaps (3.7)(0.3) 1.6
Other income (expense), net $ 57.5 $ 0.1 $ (12.5)
(a) The gain recognized during 2015 represents the gain from the sale of our remaining non-strategic directory publishing
business completed on April 1, 2015. The loss realized in 2013 was primarily due to the disposal of various non-operating
real estate assets.
13. Income Taxes:
Income tax expense (benefit) was as follows for the years ended December 31:
(Millions) 2015 2014 2013
Current:
Federal $ 9.1 $ 0.8 $ (27.0)
State 23.2 (12.5)(2.5)
32.3 (11.7)(29.5)
Deferred:
Federal 15.0 (18.3) 104.0
State (31.3) 4.9 30.8
(16.3)(13.4) 134.8
Income tax expense (benefit) $ 16.0 $ (25.1) $ 105.3
Deferred income tax expense (benefit) 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.