Cincinnati Bell 2013 Annual Report Download - page 203

Form 10-K Part II Cincinnati Bell Inc.
As of December 31, 2012
(dollars in millions)
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Cash and cash equivalents ....................... $ 3.8 $ 0.3 $ 19.5 $ — $ 23.6
Receivables, net ............................... 1.0 1.2 196.8 — 199.0
Other current assets ............................ 3.1 27.7 50.5 (0.4) 80.9
Total current assets ........................... 7.9 29.2 266.8 (0.4) 303.5
Property, plant and equipment, net ................ 0.1 220.9 1,366.4 — 1,587.4
Goodwill and intangibles, net .................... — 106.4 381.0 — 487.4
Investments in and advances to subsidiaries ......... 1,449.9 506.4 192.5 (2,148.8) —
Other noncurrent assets ......................... 384.6 218.5 54.1 (163.1) 494.1
Total assets ................................. $1,842.5 $1,081.4 $2,260.8 $(2,312.3) $2,872.4
Current portion of long-term debt ................. $ — $ 3.9 $ 9.5 $ — $ 13.4
Accounts payable .............................. 1.2 90.2 44.2 — 135.6
Other current liabilities ......................... 85.6 33.6 86.3 0.9 206.4
Total current liabilities ........................ 86.8 127.7 140.0 0.9 355.4
Long-term debt, less current portion ............... 1,841.7 88.4 745.9 — 2,676.0
Other noncurrent liabilities ...................... 383.3 90.6 229.7 (164.4) 539.2
Intercompany payables ......................... 228.9 160.0 102.6 (491.5) —
Total liabilities .............................. 2,540.7 466.7 1,218.2 (655.0) 3,570.6
Shareowners’ (deficit) equity ..................... (698.2) 614.7 1,042.6 (1,657.3) (698.2)
Total liabilities and shareowners’ equity (deficit) . . . $1,842.5 $1,081.4 $2,260.8 $(2,312.3) $2,872.4
Condensed Consolidating Statements of Cash Flows
Year Ended December 31, 2013
(dollars in millions)
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Cash flows (used in) provided by operating activities . . . $(218.1) $ 26.2 $ 270.7 $— $ 78.8
Capital expenditures ............................. — (36.1) (160.8) — (196.9)
Dividends received from CyrusOne ................. — 21.3 — — 21.3
Proceeds from sale of assets ....................... — — 2.0 — 2.0
Cash divested from deconsolidation of CyrusOne ...... — — (12.2) — (12.2)
Other investing activities .......................... — — 0.4 — 0.4
Cash flows used in investing activities ............... — (14.8) (170.6) — (185.4)
Issuance of long-term debt ........................ 536.0 — — — 536.0
Funding between Parent and subsidiaries, net ......... 174.2 (7.4) (166.8) — —
Debt issuance costs .............................. (6.7) — — — (6.7)
Net increase in corporate credit and receivables facilities
with initial maturities less than 90 days ............ 40.0 — 54.2 — 94.2
Repayment of debt ............................... (522.0) (4.0) (4.8) — (530.8)
Proceeds from exercise of options and warrants ........ 7.1 — — — 7.1
Other financing activities ......................... (12.2) — — — (12.2)
Cash flows provided by (used in) financing activities . . . 216.4 (11.4) (117.4) — 87.6
Decrease in cash and cash equivalents ............. (1.7) — (17.3) — (19.0)
Beginning cash and cash equivalents .............. 3.8 0.3 19.5 — 23.6
Ending cash and cash equivalents ................. $ 2.1 $ 0.3 $ 2.2 $— $ 4.6
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Form 10-K