Frontier Communications 2010 Annual Report Download - page 65

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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2010, 2009 AND 2008
($ in thousands, except for per-share amounts)
2010 2009 2008
Revenue......................................................... $3,797,675 $2,117,894 $2,237,018
Operating expenses:
Network access expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 383,679 225,907 222,013
Other operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,611,137 781,097 810,748
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 893,719 476,391 561,801
Acquisition and integration costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137,142 28,334 —
Total operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,025,677 1,511,729 1,594,562
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 771,998 606,165 642,456
Investment income............................................... 6,848 6,285 16,118
Other income (loss), net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,690 (41,127) (5,170)
Interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521,820 378,214 362,634
Income before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270,716 193,109 290,770
Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114,999 69,928 106,496
Net income...................................................... 155,717 123,181 184,274
Less: Income attributable to the noncontrolling interest in a
partnership .................................................... 3,044 2,398 1,614
Net income attributable to common shareholders of Frontier. . . . . . . . $ 152,673 $ 120,783 $ 182,660
Basic and diluted net income per common share attributable to
common shareholders of Frontier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.23 $ 0.38 $ 0.57
The accompanying Notes are an integral part of these Consolidated Financial Statements.
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