Frontier Communications 2009 Annual Report Download - page 69

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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 and 2007
($ and shares in thousands, except for per-share amounts)
Frontier Shareholders
Shares Amount
Additional
Paid-In
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Loss Shares Amount
Noncontrolling
Interest
Total
Equity
Common Stock Treasury Stock
Balance December 31, 2006. . . 343,956 $85,989 $1,207,399 $ 134,705 $ (81,899) (21,691) $(288,162) $10,587 $1,068,619
Stock plans . . . . . . . . . . . . . . . . . . — — (6,237) 667 — 1,824 25,399 — 19,829
Acquisition of Commonwealth 5,500 1,375 77,939 — — 12,640 168,121 — 247,435
Conversion of EPPICS. . . . . . . . — — (549) — — 291 3,888 — 3,339
Conversion of Commonwealth
notes . . . . . . . . . . . . . . . . . . . . . . — — 1,956 — — 2,508 34,775 — 36,731
Dividends on common stock
of $1.00 per share. . . . . . . . . . — — — (336,025) — — — — (336,025)
Shares repurchased . . . . . . . . . . . — — — — — (17,279) (250,000) — (250,000)
Net income . . . . . . . . . . . . . . . . . . — — — 214,654 — — — 1,860 216,514
Other comprehensive income,
net of tax and
reclassification adjustments . — — — — 3,904 — — — 3,904
Balance December 31, 2007. . . 349,456 87,364 1,280,508 14,001 (77,995) (21,707) (305,979) 12,447 1,010,346
Stock plans . . . . . . . . . . . . . . . . . . — — (1,759) — — 1,096 15,544 — 13,785
Acquisition of Commonwealth — — 1 — — 3 38 — 39
Conversion of EPPICS. . . . . . . . — — (74) — — 51 664 — 590
Conversion of Commonwealth
notes . . . . . . . . . . . . . . . . . . . . . . — — (801) — — 193 2,467 — 1,666
Dividends on common stock
of $1.00 per share. . . . . . . . . . — — (159,939) (158,498) — — — — (318,437)
Shares repurchased . . . . . . . . . . . — — — — — (17,778) (200,000) — (200,000)
Net income . . . . . . . . . . . . . . . . . . — — — 182,660 — — — 1,614 184,274
Other comprehensive loss, net
of tax and reclassification
adjustments . . . . . . . . . . . . . . . . — — — — (159,157) — — — (159,157)
Distributions . . . . . . . . . . . . . . . . . — — — — — — — (3,500) (3,500)
Balance December 31, 2008. . . 349,456 87,364 1,117,936 38,163 (237,152) (38,142) (487,266) 10,561 529,606
Stock plans . . . . . . . . . . . . . . . . . . — — (5,359) — — 1,014 13,875 — 8,516
Dividends on common stock
of $1.00 per share. . . . . . . . . . — — (156,176) (156,190) — — — — (312,366)
Net income . . . . . . . . . . . . . . . . . . — — — 120,783 — — — 2,398 123,181
Other comprehensive income,
net of tax and
reclassification adjustments . — — — — (8,367) — — — (8,367)
Distributions . . . . . . . . . . . . . . . . . — — — — — — — (1,500) (1,500)
Balance December 31, 2009 349,456 $87,364 $ 956,401 $ 2,756 $(245,519) (37,128) $(473,391) $11,459 $ 339,070
The accompanying Notes are an integral part of these Consolidated Financial Statements.
F-7