Cincinnati Bell 2012 Annual Report Download - page 193
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Form 10-K Part II Cincinnati Bell Inc.
Condensed Consolidating Statements of Operations and Comprehensive Income
Year Ended December 31, 2010
(dollars in millions)
Parent
(Guarantor)
CBT
(Issuer)
Other
Non-guarantors Eliminations Total
Revenue ................................. $ 5.5 $668.1 $761.2 $ (57.8) $1,377.0
Operating costs and expenses ................. 34.5 435.0 666.0 (57.8) 1,077.7
Operating income (loss) ..................... (29.0) 233.1 95.2 — 299.3
Interest expense, net ........................ 137.9 9.8 37.5 — 185.2
Other expense (income), net ................. 45.2 7.6 (5.9) — 46.9
Income (loss) before equity in earnings of
subsidiaries and income taxes .............. (212.1) 215.7 63.6 — 67.2
Income tax expense (benefit) ................. (61.3) 82.2 18.0 — 38.9
Equity in earnings of subsidiaries, net of tax ..... 179.1 — — (179.1) —
Net income ............................... 28.3 133.5 45.6 (179.1) 28.3
Other comprehensive loss ................... (23.9) — — — (23.9)
Total comprehensive income ................. $ 4.4 $133.5 $ 45.6 $(179.1) $ 4.4
Net income ............................... $ 28.3 $133.5 $ 45.6 $(179.1) $ 28.3
Preferred stock dividends .................... 10.4 — — — 10.4
Net income applicable to common shareowners . . $ 17.9 $133.5 $ 45.6 $(179.1) $ 17.9
Condensed Consolidating Balance Sheets
As of December 31, 2012
(dollars in millions)
Parent
(Guarantor)
CBT
(Issuer)
Other
Non-guarantors Eliminations Total
Cash and cash equivalents ................... $ 3.8 $ 1.9 $ 17.9 $ — $ 23.6
Receivables, net ........................... 1.0 — 198.0 — 199.0
Other current assets ........................ 3.1 34.4 43.8 (0.4) 80.9
Total current assets ...................... 7.9 36.3 259.7 (0.4) 303.5
Property, plant and equipment, net ............ 0.1 646.7 940.6 — 1,587.4
Goodwill and intangibles, net ................ — 2.3 485.1 — 487.4
Investments in and advances to subsidiaries ..... 1,449.9 228.2 — (1,678.1) —
Other noncurrent assets ..................... 384.6 6.3 266.3 (163.1) 494.1
Total assets ............................ $1,842.5 $ 919.8 $1,951.7 $(1,841.6) $2,872.4
Current portion of long-term debt ............. $ — $ 3.0 $ 10.4 $ — $ 13.4
Accounts payable ......................... 1.2 61.7 72.7 — 135.6
Other current liabilities ..................... 85.6 50.2 69.7 0.9 206.4
Total current liabilities ................... 86.8 114.9 152.8 0.9 355.4
Long-term debt, less current portion ........... 1,841.7 141.3 693.0 — 2,676.0
Other noncurrent liabilities .................. 383.3 138.6 181.7 (164.4) 539.2
Intercompany payables ..................... 228.9 — 276.4 (505.3) —
Total liabilities ......................... 2,540.7 394.8 1,303.9 (668.8) 3,570.6
Shareowners’ equity (deficit) ................ (698.2) 525.0 647.8 (1,172.8) (698.2)
Total liabilities and shareowners’ equity
(deficit) ............................. $1,842.5 $ 919.8 $1,951.7 $(1,841.6) $2,872.4
119
Form 10-K