Cincinnati Bell 2006 Annual Report Download - page 168

Cincinnati Bell Inc.
CONSOLIDATED BALANCE SHEETS
(Millions of Dollars, Except Share Amounts)
As of December 31,
2006 2005
Assets
Current assets
Cash and cash equivalents ................................................ $ 79.4 $ 25.7
Receivables, less allowances of $15.2 and $14.3 ............................... 161.9 160.9
Materials and supplies ................................................... 24.9 19.8
Deferred income tax benefits, net ........................................... 63.3 71.0
Prepaid expenses and other current assets .................................... 17.9 16.1
Total current assets .................................................... 347.4 293.5
Property, plant and equipment, net ............................................ 818.8 800.4
Goodwill ................................................................ 53.3 40.9
Intangible assets, net ....................................................... 112.9 61.3
Deferred income tax benefits, net ............................................. 631.4 609.6
Other noncurrent assets .................................................... 50.0 57.6
Total assets .......................................................... $2,013.8 $ 1,863.3
Liabilities and Shareowners’ Deficit
Current liabilities
Current portion of long-term debt .......................................... $ 7.3 $ 11.3
Accounts payable ....................................................... 74.1 69.8
Current portion of unearned revenue and customer deposits ...................... 42.9 39.7
Accrued taxes .......................................................... 52.8 30.2
Accrued interest ........................................................ 52.1 50.8
Accrued payroll and benefits .............................................. 43.8 33.6
Other current liabilities ................................................... 45.9 42.1
Total current liabilities ................................................. 318.9 277.5
Long-term debt, less current portion .......................................... 2,065.9 2,073.4
Accrued pension and postretirement benefits .................................... 359.6 160.3
Other noncurrent liabilities .................................................. 61.0 61.6
Total liabilities ....................................................... 2,805.4 2,572.8
Minority interest .......................................................... — 28.2
Commitments and contingencies
Shareowners’ deficit
Preferred Stock, 2,357,299 shares authorized; 155,250 (3,105,000 depositary shares)
of 6
3
⁄ 4 % Cumulative Convertible Preferred Stock issued and outstanding at
December 31, 2006 and 2005; liquidation preference $1,000 per share ($50 per
depositary share) ...................................................... 129.4 129.4
Common shares, $.01 par value; 480,000,000 shares authorized; 255,669,983 and
255,049,733 shares issued; 247,471,538 and 247,163,452 outstanding at
December 31, 2006 and 2005 ............................................ 2.6 2.6
Additional paid-in capital ................................................. 2,924.9 2,929.9
Accumulated deficit ..................................................... (3,527.2) (3,604.5)
Accumulated other comprehensive loss ...................................... (174.5) (49.6)
Common shares in treasury, at cost:
8,198,445 and 7,886,281 shares at December 31, 2006 and 2005 ................ (146.8) (145.5)
Total shareowners’ deficit .............................................. (791.6) (737.7)
Total liabilities and shareowners’ deficit ................................... $2,013.8 $ 1,863.3
The accompanying notes are an integral part of the consolidated financial statements.
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