Frontier Communications 2008 Annual Report Download - page 56
Download and view the complete annual report
Please find page 56 of the 2008 Frontier Communications 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.-
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
 |
 |
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2008 AND 2007
($ in thousands)
2008 2007
ASSETS
Current assets:
Cash and cash equivalents ............................................. $ 163,627 $ 226,466
Accounts receivable, less allowances of $40,125 and $32,748,
respectively ......................................................... 222,247 234,762
Prepaid expenses . . . ................................................... 33,265 29,437
Other current assets. ................................................... 48,820 33,489
Total current assets ............................................... 467,959 524,154
Property, plant and equipment, net . ......................................... 3,239,973 3,335,244
Goodwill, net . . ............................................................ 2,642,323 2,634,559
Other intangibles, net....................................................... 359,674 547,735
Investments ................................................................ 8,044 21,191
Other assets. . . . ............................................................ 170,703 193,186
Total assets....................................................... $6,888,676 $7,256,069
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Long-term debt due within one year .................................... $ 3,857 $ 2,448
Accounts payable . . . ................................................... 141,940 179,402
Advanced billings . . ................................................... 51,225 44,722
Other taxes accrued. ................................................... 25,585 21,400
Interest accrued ....................................................... 102,370 116,923
Other current liabilities ................................................ 57,798 80,996
Total current liabilities . . . ......................................... 382,775 445,891
Deferred income taxes. . . ................................................... 670,489 711,645
Other liabilities ............................................................ 594,682 363,737
Long-term debt ............................................................ 4,721,685 4,736,897
Shareholders’ equity:
Common stock, $0.25 par value (600,000,000 authorized shares;
311,314,000 and 327,749,000 outstanding, respectively, and
349,456,000 issued at December 31, 2008 and 2007).................. 87,364 87,364
Additional paid-in capital .............................................. 1,117,936 1,280,508
Retained earnings. . . ................................................... 38,163 14,001
Accumulated other comprehensive loss, net of tax....................... (237,152) (77,995)
Treasury stock......................................................... (487,266) (305,979)
Total shareholders’ equity ......................................... 519,045 997,899
Total liabilities and shareholders’ equity ....................... $6,888,676 $7,256,069
The accompanying Notes are an integral part of these Consolidated Financial Statements.
F-5