Windstream 2015 Annual Report Download - page 228

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-98
16. Supplemental Guarantor Information, Continued:
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2013
(Millions)
Windstream
Services Guarantors
Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net cash (used in) provided from operations $(186.2) $ 509.9 $ 1,196.1 $ — $ 1,519.8
Cash Flows from Investing Activities:
Additions to property, plant and equipment (2.0)(157.5)(681.5) — (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 - Phase 1 — 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 81.3 (140.5)(648.4) — (707.6)
Cash Flows from Financing Activities:
Dividends paid to shareholders (444.6) — — — (444.6)
Distributions to Windstream Holdings, Inc. (149.4) — — — (149.4)
Repayments of debt and swaps (4,500.9)(650.0)(10.1) — (5,161.0)
Proceeds of debt issuance 4,919.6 — — — 4,919.6
Debt issuance costs (30.0) — — — (30.0)
Intercompany transactions, net 273.1 276.3 (549.4) —
Payments under capital lease obligations —(1.3)(22.6) — (23.9)
Other, net (6.7) 3.6 (3.6) — (6.7)
Net cash provided from (used in) financing
activities 61.1 (371.4)(585.7) — (896.0)
Decrease in cash and cash equivalents (43.8)(2.0)(38.0) — (83.8)
Cash and Cash Equivalents:
Beginning of period 57.5 5.1 69.4 — 132.0
End of period $ 13.7 $ 3.1 $ 31.4 $ — $ 48.2
17. Discontinued Operations:
On December 5, 2013, we completed the sale of Pinnacle, a software business acquired as part of the PAETEC acquisition, for
$30.0 million in cash. Pinnacle provided comprehensive solutions for supporting the full lifecycle of information technology and
telecommunications services.
The following table summarizes the results of the software business which has been separately presented as discontinued operations
in the accompanying consolidated statements of operations for the year ended December 31, 2013:
(Millions)
Revenues and sales $ 16.9
Operating income from discontinued operations 1.4
Gain on sale of discontinued operations 14.4
Income before tax from discontinued operations 15.8
Income tax expense 9.8
Net income from discontinued operations $ 6.0