Frontier Communications 2012 Annual Report Download - page 67
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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010
($ in thousands, except for per-share amounts)
2012 2011 2010
Revenue ......................................................... $5,011,853 $5,243,043 $3,797,675
Operating expenses:
Network access expenses .................................... 441,588 518,682 383,679
Other operating expenses .................................... 2,234,553 2,278,419 1,611,137
Depreciation and amortization . . .............................. 1,266,807 1,403,175 893,719
Acquisition and integration costs ............................. 81,737 143,146 137,142
Total operating expenses . . ....................................... 4,024,685 4,343,422 3,025,677
Operating income ................................................ 987,168 899,621 771,998
Investment income ............................................... 13,011 2,391 6,848
Losses on early extinguishment of debt ........................... (90,363) — —
Other income, net ................................................ 7,121 9,135 13,690
Interest expense . . ................................................ 687,985 665,196 521,820
Income before income taxes.................................. 228,952 245,951 270,716
Income tax expense .............................................. 75,638 88,343 114,999
Net income ...................................................... 153,314 157,608 155,717
Less: Income attributable to the noncontrolling interest in a
partnership .................................................... 16,678 7,994 3,044
Net income attributable to common shareholders of Frontier........ $ 136,636 $ 149,614 $ 152,673
Basic net income per share attributable to common shareholders of
Frontier ....................................................... $ 0.14 $ 0.15 $ 0.23
Diluted net income per share attributable to common shareholders
of Frontier .................................................... $ 0.13 $ 0.15 $ 0.23
The accompanying Notes are an integral part of these Consolidated Financial Statements.
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