FairPoint Communications 2007 Annual Report Download - page 75
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Table of Contents
Balance at December 31, 2004 — — 8,643 86 809 8 198,519 — — (371,565) (172,952)
Net income — — — — — — — — — 28,930 28,930
Net proceeds from issuance of common stock 25,000 250 — — — — 431,671 — — — 431,921
Transfer of Class A and Class C to common
stock 9,452 94 (8,643) (86) (809) (8) — — — — —
Exercise of stock options 98 1 — — — — 183 — — — 184
Issuance of restricted shares, net of
forfeitures 471 5 — — — — 8,545 (8,550) — — —
Recognition of compensation expense — — — — — — 275 2,075 — — 2,350
Dividends declared — — — — — — (49,062) — — — (49,062)
Other comprehensive income from cash flow
hedges — — — — — — — — 5,477 — 5,477
Balance at December 31, 2005 35,021 $ 350 — $ — — $ — $ 590,131 $ (6,475) $ 5,477 $(342,635) $ 246,848
Net income — — — — — — — — — 31,090 31,090
Issuance of restricted shares 216 2 — — — — — — — — 2
Restricted stock cancelled for withholding tax (42) — — — — — (633) — — — (633)
Exercise of stock options and restricted units 23 — — — — — 24 — — — 24
Stock based compensation expense — — — — — — 2,859 — — — 2,859
Reclassify unearned compensation — — — — — — (6,475) 6,475 — — —
Dividends declared — — — — — — (55,370) — — — (55,370)
Other comprehensive loss from cash flow
hedges — — — — — — — — (101) — (101)
Balance at December 31, 2006 35,218 $ 352 — $ — — $ — $ 530,536 $ — $ 5,376 $(311,545) $ 224,719
Net income — — — — — — — — — 6,014 6,014
Issuance of restricted shares 56 1 — — — — — — — — 1
Restricted stock cancelled for withholding tax (61) (1) — — — — (1,127) — — — (1,128)
Exercise of restricted units 9 — — — — — — — — — —
Stock based compensation expense — — — — — — 3,966 — — — 3,966
Dividends declared — — — — — — (55,750) — — — (55,750)
Other comprehensive loss from cash flow
hedges — — — — — — — — (15,924) — (15,924)
Balance at December 31, 2007 35,222 $ 352 — $ — — $ — $ 477,625 $ — $ (10,548) $ (305,531) $ 161,898
See accompanying notes to consolidated financial statements.
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