Cincinnati Bell 2011 Annual Report Download - page 188

Cincinnati Bell Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts)
Year Ended December 31,
2011 2010 2009
Revenue
Services ....................................................... $1,250.8 $1,199.3 $1,169.9
Products ....................................................... 211.6 177.7 166.1
Total revenue ................................................. 1,462.4 1,377.0 1,336.0
Costs and expenses
Cost of services, excluding items below .............................. 464.3 413.9 406.1
Cost of products sold, excluding items below ......................... 213.0 190.6 184.9
Selling, general and administrative .................................. 263.1 270.9 274.8
Depreciation and amortization ..................................... 199.5 179.5 164.9
Restructuring charges ............................................ 12.2 13.7 12.6
Curtailment loss (gain) ........................................... 4.2 — (7.6)
(Gain) loss on sale of assets ....................................... (8.4 ) — 4.8
Impairment of goodwill ........................................... 50.3 — —
Impairment of assets, excluding goodwill ............................ 2.1 — —
Acquisition costs ................................................ 2.6 9.1 —
Total operating costs and expenses ................................ 1,202.9 1,077.7 1,040.5
Operating income ................................................ 259.5 299.3 295.5
Interest expense ................................................... 215.0 185.2 130.7
Loss on extinguishment of debt ...................................... — 46.5 10.3
Other expense, net ................................................. 0.9 0.4 0.2
Income before income taxes ......................................... 43.6 67.2 154.3
Income tax expense ................................................ 25.0 38.9 64.7
Net income ...................................................... 18.6 28.3 89.6
Preferred stock dividends ........................................... 10.4 10.4 10.4
Net income applicable to common shareowners ........................ $ 8.2 $ 17.9 $ 79.2
Basic earnings per common share ................................... $ 0.04 $ 0.09 $ 0.37
Diluted earnings per common share ................................. $ 0.04 $ 0.09 $ 0.37
Weighted-average common shares outstanding (millions)
Basic ....................................................... 196.8 201.0 212.2
Diluted ...................................................... 200.0 204.0 215.2
The accompanying notes are an integral part of the consolidated financial statements.
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Form 10-K Part II Cincinnati Bell Inc.