Frontier Communications 2004 Annual Report Download - page 80

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CITIZENS COMMUNICATIONS COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements
F-36
The following tables are reconciliations of certain sector items to the total consolidated amount.
(24) Quarterly Financial Data (Unaudited):
The quarterly net income (loss) per common share amounts are rounded to the nearest cent. Annual net income (loss)
per common share may vary depending on the effect of such rounding.
2004 Transactions
On April 1, 2004, we completed the sale of our Vermont electric distribution operations for approximately
$13,992,000 in cash, net of selling expenses.
During the third quarter of 2004, we sold our corporate aircraft for approximately $15,298,000 in cash. The pre-tax
loss on the sale was $1,087,000.
In October 2004, we sold cable assets in California, Arizona, Indiana, and Wisconsin for approximately $2,263,000
in cash. The pre-tax gain on these sales was $40,000.
2003 Transactions
On April 1, 2003, we completed the sale of approximately 11,000 access lines in North Dakota for approximately
$25,700,000 in cash. The pre-tax gain on the sale was $2,274,000.
($ in thousands, except per share amounts)
First quarter Second quarter Third quarter Fourth quarter
2004
Revenue 558,468$ 544,091$ 545,393$ 545,028$
Operating income 139,806 128,175 71,954 144,351
Net income (loss) 42,868 23,792 (11,290) 16,780
Net income (loss) available for common shareholders per basic share 0.15$ 0.08$ (0.04)$ 0.05$
Net income (loss) available for common shareholders per diluted share 0.15$ 0.08$ (0.04)$ 0.05$
2003
Revenue 651,862$ 643,954$ 595,037$ 554,085$
Operating income 164,295 135,192 133,156 124,969
Income before cumulative effect of change in accounting principle 61,662 34,057 11,412 14,952
Net income 127,431 34,057 11,412 14,952
Income before cumulative effect of change in accounting principle
available for common shareholders per basic share 0.22$ 0.12$ 0.04$ 0.05$
Income before cumulative effect of change in accounting principle
available for common shareholders per diluted share 0.22$ 0.12$ 0.04$ 0.05$
Net income available for common shareholders per basic share 0.45$ 0.12$ 0.04$ 0.05$
Net income available for common shareholders per diluted share 0.43$ 0.12$ 0.04$ 0.05$
($ in thousands)
Capital Expenditures 2004 2003 2002
Total segment capital expenditures 275,981$ 277,446$ 450,486$
General capital expenditures 367 569 18,256
Consolidated reported capital expenditures 276,348$ 278,015$ 468,742$
For the years ended December 31,
Assets 2004 2003
Total segment assets 6,274,915$ 6,633,072$
General assets 393,504 812,473
Consolidated reported assets 6,668,419$ 7,445,545$