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Table of Contents
EARTHLINK HOLDINGS CORP.
CONSOLIDATED BALANCE SHEETS
December 31,
2014
December 31,
2015
(in thousands, except per share data)
ASSETS
Current assets:
Cash and cash equivalents $ 134,133
$ 91,296
Accounts receivable, net of allowance of $6,211 and $3,537 as of December 31, 2014 and 2015, respectively 92,616
74,724
Prepaid expenses 13,761
14,187
Other current assets 13,671
9,724
Total current assets 254,181
189,931
Property and equipment, net 404,713
372,504
Goodwill 137,751
137,751
Other intangible assets, net 91,490
25,325
Other long-term assets 11,061
9,141
Total assets $ 899,196
$ 734,652
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 23,726
$ 18,442
Accrued payroll and related expenses 50,197
50,532
Other accrued liabilities 85,181
64,305
Deferred revenue 43,940
40,229
Current portion of long-term debt and capital lease obligations 1,537
6,787
Total current liabilities 204,581
180,295
Long-term debt and capital lease obligations 595,319
505,613
Long-term deferred income taxes, net 3,199
3,876
Other long-term liabilities 21,313
22,022
Total liabilities 824,412
711,806
Commitments and contingencies (See Note 13)
Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000 shares authorized, 0 shares issued and outstanding as of December 31,
2014 and 2015 —
—
Common stock, $0.01 par value, 300,000 shares authorized, 198,623 and 200,207 shares issued as of December
31, 2014 and 2015, respectively, and 102,296 and 103,880 shares outstanding as of December 31, 2014 and
2015, respectively 1,986
2,002
Additional paid-in capital 2,035,382
2,026,638
Accumulated deficit (1,217,727)
(1,260,937)
Treasury stock, at cost, 96,327 shares as of December 31, 2014 and 2015 (744,857)
(744,857)
Total stockholders’ equity 74,784
22,846
Total liabilities and stockholders’ equity $ 899,196
$ 734,652
The accompanying notes are an integral part of these financial statements.
60