Cincinnati Bell 2012 Annual Report Download - page 148

Cincinnati Bell Inc.
CONSOLIDATED BALANCE SHEETS
(Dollars in millions, except share amounts)
December 31,
2012
December 31,
2011
Assets
Current assets
Cash and cash equivalents .............................................. $ 23.6 $ 73.7
Receivables, less allowances of $13.3 and $11.6 ............................. 199.0 179.4
Inventory, materials and supplies ......................................... 30.7 23.8
Deferred income taxes ................................................. 26.8 30.2
Prepaid expenses ..................................................... 11.8 11.2
Other current assets ................................................... 11.6 2.7
Total current assets .................................................. 303.5 321.0
Property, plant and equipment, net .......................................... 1,587.4 1,400.5
Goodwill .............................................................. 290.6 290.6
Intangible assets, net .................................................... 196.8 216.9
Deferred income taxes ................................................... 407.8 423.5
Other noncurrent assets .................................................. 86.3 62.2
Total assets ........................................................ $2,872.4 $ 2,714.7
Liabilities and Shareowners’ Deficit
Current liabilities
Current portion of long-term debt ........................................ $ 13.4 $ 13.0
Accounts payable ..................................................... 135.6 133.4
Unearned revenue and customer deposits .................................. 51.2 48.2
Accrued taxes ........................................................ 21.6 15.5
Accrued interest ...................................................... 41.3 45.6
Accrued payroll and benefits ............................................ 52.1 52.6
Other current liabilities ................................................. 40.2 48.1
Total current liabilities ............................................... 355.4 356.4
Long-term debt, less current portion ........................................ 2,676.0 2,520.6
Pension and postretirement benefit obligations ................................ 362.7 389.9
Other noncurrent liabilities ................................................ 176.5 163.0
Total liabilities ..................................................... 3,570.6 3,429.9
Shareowners’ deficit
Preferred stock, 2,357,299 shares authorized; 155,250 shares (3,105,000 depositary
shares) of 6 3/4% Cumulative Convertible Preferred Stock issued and outstanding
at December 31, 2012 and 2011; liquidation preference $1,000 per share ($50 per
depositary share) ................................................... 129.4 129.4
Common shares, $.01 par value; 480,000,000 shares authorized; 202,960,430 and
196,322,649 shares issued; 202,468,710 and 195,721,796 shares outstanding at
December 31, 2012 and 2011 .......................................... 2.0 2.0
Additional paid-in capital ............................................... 2,590.9 2,584.6
Accumulated deficit ................................................... (3,208.8) (3,220.0)
Accumulated other comprehensive loss .................................... (209.7) (208.9)
Common shares in treasury, at cost ....................................... (2.0) (2.3)
Total shareowners’ deficit ............................................ (698.2) (715.2)
Total liabilities and shareowners’ deficit ................................. $2,872.4 $ 2,714.7
The accompanying notes are an integral part of the consolidated financial statements.
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Form 10-K Part II Cincinnati Bell Inc.