Cincinnati Bell 2013 Annual Report Download - page 152

Cincinnati Bell Inc.
CONSOLIDATED BALANCE SHEETS
(Dollars in millions, except share amounts)
December 31,
2013
December 31,
2012
Assets
Current assets
Cash and cash equivalents ............................................. $ 4.6 $ 23.6
Receivables, less allowances of $12.2 and $13.3 ........................... 145.6 199.0
Receivable from CyrusOne ............................................ 9.2 —
Inventory, materials and supplies ....................................... 23.8 30.7
Deferred income taxes ................................................ 55.3 26.8
Prepaid expenses .................................................... 11.0 11.8
Other current assets .................................................. 1.6 11.6
Total current assets ................................................ 251.1 303.5
Property, plant and equipment, net ........................................ 902.8 1,587.4
Investment in CyrusOne ................................................ 471.0 —
Goodwill ............................................................ 14.4 290.6
Intangible assets, net ................................................... 91.7 196.8
Deferred income taxes .................................................. 339.7 407.8
Other noncurrent assets ................................................. 36.6 86.3
Total assets ....................................................... $2,107.3 $ 2,872.4
Liabilities and Shareowners’ Deficit
Current liabilities
Current portion of long-term debt ....................................... $ 12.6 $ 13.4
Accounts payable .................................................... 89.4 135.6
Payable to CyrusOne ................................................. 0.5 —
Unearned revenue and customer deposits ................................. 32.5 51.2
Accrued taxes ....................................................... 12.9 21.6
Accrued interest ..................................................... 31.6 41.3
Accrued payroll and benefits ........................................... 38.0 52.1
Other current liabilities ............................................... 36.8 40.2
Total current liabilities .............................................. 254.3 355.4
Long-term debt, less current portion ....................................... 2,252.6 2,676.0
Pension and postretirement benefit obligations ............................... 202.7 362.7
Other noncurrent liabilities .............................................. 74.4 176.5
Total liabilities .................................................... 2,784.0 3,570.6
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, 2013 and 2012; liquidation preference $1,000 per
share ($50 per depositary share) ...................................... 129.4 129.4
Common shares, $.01 par value; 480,000,000 shares authorized; 208,656,995 and
202,960,430 shares issued; 208,165,275 and 202,468,710 shares outstanding at
December 31, 2013 and 2012 ........................................ 2.1 2.0
Additional paid-in capital ............................................. 2,590.6 2,590.9
Accumulated deficit .................................................. (3,263.5) (3,208.8)
Accumulated other comprehensive loss .................................. (133.3) (209.7)
Common shares in treasury, at cost ...................................... (2.0) (2.0)
Total shareowners’ deficit ........................................... (676.7) (698.2)
Total liabilities and shareowners’ deficit ................................ $2,107.3 $ 2,872.4
The accompanying notes are an integral part of the consolidated financial statements.
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Form 10-K Part II Cincinnati Bell Inc.