Frontier Communications 2013 Annual Report Download - page 68

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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011
($ in thousands, except for per-share amounts)
2013 2012 2011
Revenue ......................................................... $4,761,576 $5,011,853 $5,243,043
Operating expenses:
Network access expenses .................................... 431,073 441,588 518,682
Other operating expenses .................................... 2,141,068 2,234,553 2,278,419
Depreciation and amortization . . .............................. 1,169,500 1,266,807 1,403,175
Pension settlement costs ..................................... 44,163 — —
Acquisition and integration costs ............................. 9,652 81,737 143,146
Total operating expenses . . ....................................... 3,795,456 4,024,685 4,343,422
Gain on sale of Mohave partnership interest . . ..................... 14,601 — —
Operating income ................................................ 980,721 987,168 899,621
Investment income ............................................... 3,808 13,011 2,391
Losses on early extinguishment of debt ........................... 159,780 90,363 —
Other income, net ................................................ 5,369 7,121 9,135
Interest expense . . ................................................ 667,398 687,985 665,196
Income before income taxes.................................. 162,720 228,952 245,951
Income tax expense .............................................. 47,242 75,638 88,343
Net income ...................................................... 115,478 153,314 157,608
Less: Income attributable to the noncontrolling interest in a
partnership .................................................... 2,643 16,678 7,994
Net income attributable to common shareholders of Frontier........ $ 112,835 $ 136,636 $ 149,614
Basic net income per common share attributable to common
shareholders of Frontier . ....................................... $ 0.11 $ 0.14 $ 0.15
Diluted net income per common share attributable to common
shareholders of Frontier . ....................................... $ 0.11 $ 0.13 $ 0.15
The accompanying Notes are an integral part of these Consolidated Financial Statements.
F-6