Cincinnati Bell 2010 Annual Report Download - page 156

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Cincinnati Bell Inc.
CONSOLIDATED STATEMENTS OF SHAREOWNERS’ DEFICIT
AND COMPREHENSIVE INCOME
(in Millions)
63/4% Cumulative
Convertible
Preferred Shares Common Shares Additional
Paid-in
Shares
Accumulated
Deficit
Accumulated
Other
Comprehensive
Loss
Treasury Shares
TotalShares Amount Shares Amount Shares Amount
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)
Restricted stock and stock options
amortization ................ — 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)
Net income .................. — 89.6 — 89.6
Amortization of pension and
postretirement benefits, net of
taxes of $2.1 ............... — (3.6) — (3.6)
Remeasurement of pension and
postretirement liabilities and
other, net of taxes of ($26.3) . . . 44.6 44.6
Comprehensive income ......... 130.6
Shares issued under employee
plans ...................... — 0.9 0.1 0.1
Shares purchased under employee
plans and other .............. — (0.4) (0.8) (0.1) (0.1) (0.9)
Restricted stock and stock options
amortization ................ — 8.5 8.5
Repurchase and retirement of
shares ..................... (28.0) (0.3) (72.9) (73.2)
Dividends on preferred stock .... — (10.4) — (10.4)
Balance at December 31, 2009 . . 3.1 129.4 201.0 2.0 2,619.7 (3,266.9) (136.1) (0.7) (2.7) (654.6)
Net income .................. — 28.3 — 28.3
Amortization of pension and
postretirement benefits, net of
taxes of ($0.7) .............. — 1.2 1.2
Remeasurement of pension and
postretirement liabilities and
other, net of taxes of $13.9 .... — (25.1) — (25.1)
Comprehensive income ......... 4.4
Shares issued under employee
plans ...................... — 1.9 0.5 0.2 0.6 1.1
Shares purchased under employee
plans and other .............. — (0.6) — (1.6) — (1.6)
Restricted stock and stock options
amortization ................ — 3.3 3.3
Repurchase and retirement of
shares ..................... — (4.0) (10.0) — (10.0)
Dividends on preferred stock .... — (10.4) — (10.4)
Balance at December 31, 2010 . . 3.1 $129.4 198.3 $ 2.0 $2,601.5 $(3,238.6) $(160.0) (0.5) $ (2.1) $(667.8)
The accompanying notes are an integral part of the consolidated financial statements.
66