Frontier Communications 2014 Annual Report Download - page 33

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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, 2014 has been derived from Frontier’s
historical consolidated financial statements. The selected historical consolidated financial information
as of December 31, 2014 and 2013 and for each of the three years ended December 31, 2014 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, 2012,
2011 and 2010 and for each of the years ended December 31, 2011 and 2010 is derived from the
audited historical consolidated financial statements of Frontier not included in this Form 10-K.
2014 2013 2012 2011 2010
Year Ended December 31,(1)
($ in thousands, except per
share amounts)
Revenue . . . . . . . . . . . . . . . . . $ 4,772,490 $ 4,761,576 $ 5,011,853 $ 5,243,043 $ 3,797,675
Net income(2)(3)(4)(5) . . . . . . . . $ 132,893 $ 115,478 $ 153,314 $ 157,608 $ 155,717
Net income attributable to
common shareholders
of Frontier(2)(3)(4)(5). . . . . . . $ 132,893 $ 112,835 $ 136,636 $ 149,614 $ 152,673
Net income attributable to
common shareholders
of Frontier per basic
share(2)(3)(4)(5) . . . . . . . . . . . $ 0.13 $ 0.11 $ 0.14 $ 0.15 $ 0.23
Net income attributable to
common shareholders
of Frontier per diluted
share(2)(3)(4)(5) . . . . . . . . . . . $ 0.13 $ 0.11 $ 0.13 $ 0.15 $ 0.23
Cash dividends declared
(and paid) per common
share . . . . . . . . . . . . . . . . . . $ 0.40 $ 0.40 $ 0.40 $ 0.75 $ 0.875
2014 2013 2012 2011 2010
As of December 31,
Total assets. . . . . . . . . . . . . . $18,974,030 $16,635,484 $17,733,631 $17,448,319 $17,888,101
Long-term debt. . . . . . . . . . . $ 9,485,615 $ 7,873,667 $ 8,381,947 $ 8,224,392 $ 8,005,685
Total shareholders’ equity
of Frontier . . . . . . . . . . . . . $ 3,657,677 $ 4,055,481 $ 4,107,596 $ 4,455,137 $ 5,196,740
(1) Operating results include activities for the Connecticut operations from the date of their acquisition from
AT&T on October 24, 2014 and for the properties acquired from Verizon in 2010 from the date of their
acquisition on July 1, 2010.
(2) Operating results include the pre-tax impacts of losses on retirement of debt or exchanges of debt of
$160 million ($99 million, or $0.10 per share, after tax), and $90 million ($57 million, or $0.06 per share,
after tax) for 2013 and 2012, respectively.
(3) Operating results include pre-tax acquisition and integration costs of $142 million ($91 million, or
$0.09 per share, after tax), $10 million ($6 million, or $0.01 per share, after tax), $82 million ($51 million,
or $0.05 per share, after tax), $143 million ($87 million, or $0.09 per share, after tax) and $137 million
($86 million, or $0.13 per share, after tax) for 2014, 2013, 2012, 2011 and 2010, respectively.
(4) Operating results include pre-tax severance costs of $2 million ($1 million after tax), $12 million
($7 million, or $0.01 per share, after tax), $32 million ($20 million, or $0.02 per share, after tax),
$16 million ($10 million, or $0.01 per share, after tax) and $10 million ($6 million, or $0.01 per share, after
tax) for 2014, 2013, 2012, 2011 and 2010, respectively.
(5) Operating results include pre-tax pension settlement costs of $44 million ($27 million, or $0.03 per share,
after tax) for 2013.
32
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES