Cincinnati Bell 2005 Annual Report Download - page 150
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The following information sets forth the condensed consolidating balance sheets of the Company as of
December 31, 2005 and 2004 and the condensed consolidating statements of operations and cash flows for the
three years ended December 31, 2005, 2004, and 2003 of (1) the Parent Company, as the issuer (2) the guarantor
subsidiaries on a combined basis, and (3) the non-guarantor subsidiaries on a combined basis:
Condensed Consolidating Statements of Operations
Year ended December 31, 2005
(dollars in millions)
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Revenue ................................. $ 4.5 $298.3 $940.7 $ (33.9) $1,209.6
Operating costs and expenses ................ 23.2 249.0 712.5 (33.9) 950.8
Operating income (loss) ..................... (18.7) 49.3 228.2 — 258.8
Equity in earnings (loss) of subsidiaries, net of
tax ................................... 115.0 (55.4) — (59.6) —
Interest expense ........................... 168.1 33.9 20.1 (37.7) 184.4
Loss on extinguishment of debt ............... 99.8 — — — 99.8
Other expense (income), net ................. (25.2) (22.6) (5.1) 37.7 (15.2)
Income (loss) before income taxes ............ (146.4) (17.4) 213.2 (59.6) (10.2)
Income tax expense (benefit) ................. (81.9) 36.6 99.6 — 54.3
Net income (loss) .......................... (64.5) (54.0) 113.6 (59.6) (64.5)
Preferred stock dividends ................... 10.4 — — — 10.4
Net income (loss) applicable to common
shareowners ............................ $ (74.9) $ (54.0) $113.6 $ (59.6) $ (74.9)
Year ended December 31, 2004
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Revenue ................................. $ 10.6 $261.6 $964.5 $ (29.6) $1,207.1
Operating costs and expenses ................ 32.2 221.5 683.7 (29.6) 907.8
Operating income (loss) ..................... (21.6) 40.1 280.8 — 299.3
Equity in earnings (loss) of subsidiaries, net of
tax ................................... 176.9 (2.5) — (174.4) —
Interest expense ........................... 185.6 16.6 20.0 (18.9) 203.3
Other expense (income), net ................. (21.7) (0.7) (0.8) 18.9 (4.3)
Income (loss) before income taxes ............ (8.6) 21.7 261.6 (174.4) 100.3
Income tax expense (benefit) ................. (72.8) 5.8 103.1 — 36.1
Net income (loss) .......................... 64.2 15.9 158.5 (174.4) 64.2
Preferred stock dividends ................... 10.4 — — — 10.4
Net income (loss) applicable to common
shareowners ............................ $ 53.8 $ 15.9 $158.5 $(174.4) $ 53.8
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