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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010
($ and shares in thousands)
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,
2009. . . . . . . . . . . . . . . . . . . . 349,456 $ 87,364 $ 956,401 $ 2,756 $(245,519) (37,128) $(473,391) $ 11,459 $ 339,070
Acquisition of the Acquired
Business . . . . . . . . . . . . . . . . 678,530 169,633 5,048,266 — — — — — 5,217,899
Stock plans. . . . . . . . . . . . . . . . — — (28,129) — — 2,997 40,105 — 11,976
Dividends on common
stock . . . . . . . . . . . . . . . . . . . — — (451,067) (78,322) — — — — (529,389)
Net income. . . . . . . . . . . . . . . . — — — 152,673 — — — 3,044 155,717
Other comprehensive
income, net of tax . . . . . . . — — — — 15,970 — — — 15,970
Distributions. . . . . . . . . . . . . . . — — — — — — — (1,500) (1,500)
Balance December 31,
2010. . . . . . . . . . . . . . . . . . . . 1,027,986 256,997 5,525,471 77,107 (229,549) (34,131) (433,286) 13,003 5,209,743
Stock plans. . . . . . . . . . . . . . . . — — (5,701) — — 1,273 18,285 — 12,584
Dividends on common
stock . . . . . . . . . . . . . . . . . . . — — (746,387) — — — — — (746,387)
Net income. . . . . . . . . . . . . . . . — — — 149,614 — — — 7,994 157,608
Other comprehensive loss,
net of tax . . . . . . . . . . . . . . . — — — — (157,414) — — — (157,414)
Distributions. . . . . . . . . . . . . . . — — — — — — — (7,000) (7,000)
Balance December 31,
2011. . . . . . . . . . . . . . . . . . . . 1,027,986 256,997 4,773,383 226,721 (386,963) (32,858) (415,001) 13,997 4,469,134
Stock plans. . . . . . . . . . . . . . . . — — (34,582) — — 3,282 46,408 — 11,826
Dividends on common
stock . . . . . . . . . . . . . . . . . . . — — (99,238) (300,152) — — — — (399,390)
Net income. . . . . . . . . . . . . . . . — — — 136,636 — — — 16,678 153,314
Other comprehensive
income, net of tax . . . . . . . — — — — (96,613) — — — (96,613)
Distributions. . . . . . . . . . . . . . . — — — — — — — (19,000) (19,000)
Balance December 31,
2012. . . . . . . . . . . . . . . . . . . . 1,027,986 $256,997 $4,639,563 $ 63,205 $(483,576) (29,576) $(368,593) $ 11,675 $4,119,271
The accompanying Notes are an integral part of these Consolidated Financial Statements.
F-8