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FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011
($ and shares in thousands)
Shareholders’ Equity of Frontier
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,
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 loss,
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
Stock plans. . . . . . . . . . . . . . . . — — (18,671) — — 1,052 30,443 — 11,772
Dividends on common
stock . . . . . . . . . . . . . . . . . . . — — (299,836) (99,932) — — — — (399,768)
Net income. . . . . . . . . . . . . . . . — — — 112,835 — — — 2,643 115,478
Pension settlement costs,
net of tax . . . . . . . . . . . . . . . — — — — 27,381 — — — 27,381
Other comprehensive
income, net of tax . . . . . . . — — — — 195,665 — — — 195,665
Distributions. . . . . . . . . . . . . . . — — — — — — — (6,400) (6,400)
Sale of Mohave partnership
interest. . . . . . . . . . . . . . . . . . — — — — — — — (7,918) (7,918)
Balance December 31,
2013. . . . . . . . . . . . . . . . . . . . 1,027,986 $256,997 $4,321,056 $ 76,108 $(260,530) (28,524) $(338,150) $ — $4,055,481
The accompanying Notes are an integral part of these Consolidated Financial Statements.
F-8