Cincinnati Bell 2008 Annual Report Download - page 160

Cincinnati Bell Inc.
CONSOLIDATED STATEMENTS OF SHAREOWNERS’ EQUITY (DEFICIT) AND
COMPREHENSIVE INCOME (LOSS)
(in Millions)
6
3
⁄ 4 % Cumulative
Convertible
Preferred Shares Common Shares Additional
Paid-in
Capital
Accumulated
Deficit
Accumulated
Other
Comprehensive
Loss
Treasury Shares
TotalShares Amount Shares Amount Shares Amount
Balance at December 31,
2005 ..................... 3.1 $129.4 255.0 $ 2.6 $2,929.9 $(3,604.5) $ (49.6) (7.9) $(145.5) $(737.7)
Adjustment to opening
accumulated deficit, net of taxes
of $5.2 .................... — — — — — (9.0) — — — (9.0)
Net income .................. — — — — — 86.3 — — — 86.3
Additional minimum pension
liability adjustment, net of taxes
of ($1.4) .................. — — — — — — 2.2 — — 2.2
Comprehensive income ......... 88.5
Shares issued (purchased) under
employee plans and other ..... — — 0.7 — 2.1 — — (0.3) (1.3) 0.8
Stock-based compensation ...... — — — — 2.5 — — — — 2.5
Dividends on preferred stock .... — — — — (10.4) — — — — (10.4)
Adjustment to initially apply
SFAS No. 158, net of taxes of
$73.3 ..................... — — — — — — (127.1) — — (127.1)
Other ....................... — — — — 0.8 — — — — 0.8
Balance at December 31,
2006 ..................... 3.1 129.4 255.7 2.6 2,924.9 (3,527.2) (174.5) (8.2) (146.8) (791.6)
Adjustment to opening
accumulated deficit to initially
apply FIN No. 48 ........... — — — — — (5.1) — — — (5.1)
Net income .................. — — — — — 73.2 — — — 73.2
Amortization of pension and
postretirement costs, net of
taxes of ($7.0) .............. — — — — — — 12.2 — — 12.2
Remeasurement of pension and
postretirement liabilities and
other, net of taxes of ($27.1) . . . — — — — — — 46.4 — — 46.4
Comprehensive income ......... 131.8
Shares issued (purchased) under
employee plans and other ..... — — 1.0 — 2.1 — — (0.1) (0.5) 1.6
Stock-based compensation ...... — — — — 6.1 — — — — 6.1
Dividends on preferred stock .... — — — — (10.4) — — — — (10.4)
Balance at December 31,
2007 ..................... 3.1 129.4 256.7 2.6 2,922.7 (3,459.1) (115.9) (8.3) (147.3) (667.6)
Net income .................. — — — — — 102.6 — — — 102.6
Amortization of pension and
postretirement costs, net of
taxes of ($3.6) .............. — — — — — — 6.3 — — 6.3
Remeasurement of pension and
postretirement liabilities and
other, net of taxes of $39.8 .... — — — — — — (67.5) — — (67.5)
Comprehensive income ......... 41.4
Shares issued under employee
plans ..................... — — 0.5 — 0.3 — — — — 0.3
Shares purchased under employee
plans and other ............. — — (0.3) — (1.2) — — (0.1) (0.6) (1.8)
Stock-based compensation ...... — — — — 5.6 — — — — 5.6
Repurchase of shares .......... — — — — — — — (20.6) (76.8) (76.8)
Retirement of shares ........... — — (28.4) (0.3) (221.7) — — 28.4 222.0 —
Dividends on preferred stock .... — — — — (10.4) — — — — (10.4)
Balance at December 31,
2008 ..................... 3.1 $129.4 228.5 $ 2.3 $2,695.3 $(3,356.5) $(177.1) (0.6) $ (2.7) $(709.3)
The accompanying notes are an integral part of the consolidated financial statements.
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