Frontier Communications 2011 Annual Report Download - page 32

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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
29
Item 6. Selected Financial Data
The following tables present selected historical consolidated financial information of Frontier for the periods indicated. The
selected historical consolidated financial information of Frontier as of and for each of the five fiscal years in the period ended
December 31, 2011 has been derived from Frontier’s historical consolidated financial statements. The selected historical
consolidated financial information as of December 31, 2011 and 2010 and for each of the three years ended December 31,
2011 is derived from the audited historical consolidated financial statements of Frontier included elsewhere in this Form 10-K.
The selected historical consolidated financial information as of December 31, 2009, 2008 and 2007 and for each of the years
ended December 31, 2008 and 2007 is derived from the audited historical consolidated financial statements of Frontier not
included in this Form 10-K.
($ in thousands, except per share amounts)
2011 2010 2009 2008 2007
Revenue 5,243,043$ 3,797,675$ 2,117,894$ 2,237,018$ 2,288,015$ (3)
Income from continuing operations
(2)
157,608$
(5)
155,717$
(5)
123,181$
(5)
184,274$ 216,514$
(4)
Net income attributable to common shareholders of Frontier (2) 149,614$ (5) 152,673$ (5) 120,783$ (5) 182,660$ 214,654$ (4)
Net income attributable to common shareholders of Frontier
per basic and diluted share (2) 0.15$ (5) 0.23$ (5) 0.38$ (5) 0.57$ 0.64$ (3)(4)
Cash dividends declared (and paid) per common share 0.75$ 0.875$ 1.00$ 1.00$ 1.00$
2011 2010 2009 2008 2007
Total assets 17,460,768$ 17,890,230$ 6,878,255$ 6,888,676$ 7,256,069$
Long-term debt 8,205,841$ 7,983,614$ 4,794,129$ 4,721,685$ 4,736,897$
Total shareholders' equity of Frontier 4,455,137$ 5,196,740$ 327,611$ 519,045$ 997,899$
Year Ended December 31, (1)
As of December 31,
(1) Operating results include activities for the Acquired Business from the date of its acquisition from Verizon on July 1, 2010, and for Commonwealth Telephone Enterprises, Inc.
(Commonwealth or CTE) from the date of its acquisition on March 8, 2007 and for Global Valley Networks, Inc. and GVN Services (together GVN) from the date of their
acquisition on October 31, 2007.
(2) Operating results include the pre-tax impacts of losses on retirement of debt or exchanges of debt of $45.9 million ($28.9 million after tax or $0.09 per share), $6.3 million ($4.0
million after tax or $0.01 per share) and $18.2 million ($11.5 million after tax or $0.03 per share) for 2009, 2008 and 2007, respectively.
(3) Revenue for 2007 includes the favorable one-time impact of $38.7 million ($24.4 million after tax or $0.07 per share) for a significant favorable settlement of a carrier dispute.
(4) Operating results for 2007 reflect the positive pre-tax impact of a pension curtailment gain of $14.4 million ($9.1 million after tax or $0.03 per share), resulting from the freeze
placed on certain pension benefits of the former CTE non-union employees.
(5) Operating results include pre-tax acquisition and integration costs of $143.1 million ($88.4 million after tax or $0.09 per share), $137.1 million ($85.7 million after tax or $0.13
per share) and $28.3 million ($17.8 million after tax or $0.06 per share) for 2011, 2010 and 2009, respectively.