Cincinnati Bell 2015 Annual Report Download - page 233

Download and view the complete annual report

Please find page 233 of the 2015 Cincinnati Bell annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 252

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252

Form 10-K Part II Cincinnati Bell Inc.
Condensed Consolidating Statements of Cash Flows
Year Ended December 31, 2015
(dollars in millions)
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Cash flows provided by (used in) operating activities . . . $ (19.3) $ (44.0) $ 174.2 $ — $ 110.9
Capital expenditures ............................. (0.1) (22.5) (261.0) — (283.6)
Proceeds received from sale of CyrusOne ............ — 643.9 — — 643.9
Dividends received from CyrusOne ................. — 22.2 — — 22.2
Proceeds from sale of assets ....................... — 0.9 0.1 — 1.0
Distributions received from subsidiaries .............. 11.3 — — (11.3) —
Funding between Parent and subsidiaries, net ......... — (597.1) 114.7 482.4 —
Other investing activities .......................... (0.3) — — — (0.3)
Cash flows provided by (used in) investing activities .... 10.9 47.4 (146.2) 471.1 383.2
Funding between Parent and subsidiaries, net ......... 486.4 — (4.0) (482.4) —
Distributions paid to Parent ........................ — — (11.3) 11.3 —
Net decrease in corporate credit and receivables facilities
with initial maturities less than 90 days ............ — — (1.6) — (1.6)
Repayment of debt ............................... (518.5) (3.2) (10.0) — (531.7)
Debt issuance costs .............................. (0.2) — (0.2) — (0.4)
Other financing activities ......................... (10.9) — — — (10.9)
Cash flows provided by (used in) financing activities . . . (43.2) (3.2) (27.1) (471.1) (544.6)
Increase (decrease) in cash and cash equivalents ..... (51.6) 0.2 0.9 — (50.5)
Beginning cash and cash equivalents .............. 56.2 0.2 1.5 — 57.9
Ending cash and cash equivalents ................. $ 4.6 $ 0.4 $ 2.4 $ — $ 7.4
Year Ended December 31, 2014
(dollars in millions)
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Cash flows provided by (used in) operating activities . . . $ (56.3) $ 1.0 $ 230.5 $ — $ 175.2
Capital expenditures ............................. (0.2) (29.6) (152.5) — (182.3)
Proceeds from sale of CyrusOne .................... — 355.9 — — 355.9
Dividends received from CyrusOne ................. — 28.4 — — 28.4
Proceeds from sale of assets ....................... — 194.4 2.0 — 196.4
Distributions received from subsidiaries .............. 12.8 — — (12.8) —
Funding between Parent and subsidiaries, net ......... — (541.7) (75.6) 617.3 —
Other investing activities .......................... (0.3) (5.5) — — (5.8)
Cash flows provided by (used in) investing activities .... 12.3 1.9 (226.1) 604.5 392.6
Funding between Parent and subsidiaries, net ......... 516.2 — 101.1 (617.3) —
Distributions paid to Parent ........................ — — (12.8) 12.8 —
Net increase in corporate credit and receivables facilities
with initial maturities less than 90 days ............ (40.0) — (87.0) — (127.0)
Repayment of debt ............................... (367.3) (3.0) (6.2) — (376.5)
Debt issuance costs .............................. (0.7) — (0.2) — (0.9)
Proceeds from exercise of options and warrants ........ 1.3 — — — 1.3
Other financing activities ......................... (11.4) — — — (11.4)
Cash flows provided by (used in) financing activities . . . 98.1 (3.0) (5.1) (604.5) (514.5)
Increase (decrease) in cash and cash equivalents ..... 54.1 (0.1) (0.7) — 53.3
Beginning cash and cash equivalents .............. 2.1 0.3 2.2 — 4.6
Ending cash and cash equivalents ................. $ 56.2 $ 0.2 $ 1.5 $ — $ 57.9
117
Form 10-K