Cincinnati Bell 2005 Annual Report Download - page 146
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Year ended December 31, 2004
Parent
(Guarantor) CBT
Other
(Non-guarantors) Eliminations Total
Revenue ................................ $ 10.6 $761.7 $ 464.4 $ (29.6) $1,207.1
Operating costs and expenses ............... 32.2 482.6 422.6 (29.6) 907.8
Operating income (loss) .................... (21.6) 279.1 41.8 — 299.3
Equity in earnings of subsidiaries, net of tax .... 176.9 — — (176.9) —
Interest expense .......................... 185.6 17.5 25.5 (25.3) 203.3
Other expense (income), net ................ (21.7) (1.2) (6.7) 25.3 (4.3)
Income (loss) before income taxes ........... (8.6) 262.8 23.0 (176.9) 100.3
Income tax expense (benefit) ................ (72.8) 101.9 7.0 — 36.1
Net income (loss) ......................... 64.2 160.9 16.0 (176.9) 64.2
Preferred stock dividends ................... 10.4 — — — 10.4
Net income (loss) applicable to common
shareowners ........................... $ 53.8 $160.9 $ 16.0 $ (176.9) $ 53.8
Year ended December 31, 2003
Parent
(Guarantor) CBT
Other
(Non-guarantors) Eliminations Total
Revenue ................................ $ 12.8 $820.4 $ 776.5 $ (51.9) $1,557.8
Operating costs and expenses ............... 43.6 524.3 357.8 (51.9) 873.8
Operating income (loss) .................... (30.8) 296.1 418.7 — 684.0
Equity in earnings of subsidiaries, net of tax .... 1,163.0 — — (1,163.0) —
Interest expense .......................... 186.2 20.8 71.2 (60.4) 217.8
Other expense (income), net ................ (27.7) (10.9) 27.2 60.4 49.0
Income (loss) before income taxes and
cumulative effect of change in accounting
principle .............................. 973.7 286.2 320.3 (1,163.0) 417.2
Income tax expense (benefit) ................ (272.3) 95.2 (651.7) — (828.8)
Income (loss) before cumulative effect of change
in accounting principle ................... 1,246.0 191.0 972.0 (1,163.0) 1,246.0
Cumulative effect of change in accounting
principle, net of tax ..................... 85.9 86.3 (0.4) (85.9) 85.9
Net income (loss) ......................... 1,331.9 277.3 971.6 (1,248.9) 1,331.9
Preferred stock dividends ................... 10.4 — — — 10.4
Net income (loss) applicable to common
shareowners ........................... $1,321.5 $277.3 $ 971.6 $(1,248.9) $1,321.5
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