CenturyLink 2009 Annual Report Download - page 9

Dollars, except per share amounts, 5-year
and shares in thousands 2009(2) 2008 2007 2006 2005 2004 CAGR(1)
Operating revenues $ 4,974,239 2,599,747 2,656,241 2,447,730 2,479,252 2,407,372 15.6%
Operating income $ 1,233,101 721,352 793,078 665,538 736,403 753,953 10.3%
Depreciation and amortization $ 974,710 523,786 536,255 523,506 531,931 500,904 14.2%
Income before extraordinary item $ 511,254 365,732 418,370 370,027 334,479 337,244 8.7%
Diluted earnings per share
before extraordinary item $ 2.55 3.52 3.71 3.07 2.49 2.41 1.1%
Net cash provided by operating activities $ 1,573,715 853,300 1,029,986 840,719 967,078 964,050 10.3%
Capital expenditures $ 754,544 286,817 326,045 314,071 414,872 385,316 14.4%
Repurchase of common stock and
common dividends paid $ 560,685 567,350 489,360 831,011 583,225 432,475 5.3%
Book value per share $ 31.62 31.54 31.36 28.11 27.54 25.70 4.2%
Dividends per common share $ 2.80 2.1675 0.26 0.25 0.24 0.23 64.8%
Average diluted shares outstanding 199,057 102,560 112,787 121,990 136,083 142,144 7.0%
Total assets $ 22,562,729 8,254,195 8,184,553 7,441,007 7,762,707 7,796,953 23.7%
Long-term debt $ 7,253,653 3,294,119 2,734,357 2,412,852 2,376,070 2,762,019 21.3%
Stockholders’ equity $ 9,466,799 3,167,808 3,415,810 3,198,964 3,624,431 3,417,273 22.6%
Telephone access lines 7,039,000 2,025,000 2,135,000 2,094,000 2,214,000 2,314,000 24.9%
High-speed Internet customers 2,236,000 641,000 555,000 369,000 249,000 143,000 73.3%
(1) Five-year compounded annual growth rate
(2) As more fully described in our 2009 Form 10-K, we incurred a significant amount of one-time expenses in 2009, the vast majority of which were directly attributable to our acquisition
of Embarq. Such one -time expenses (presented on a pre-tax basis) included (i) $138.0 million of severance, retention and accelerated recognition of share-based compensation
and pension expense due to workforce reductions and change of control provisions, (ii) $133.5 million of integration and transaction related costs associated with our acquisition
of Embarq and (iii) $ 68.8 million of charges associated with certain debt extinguishments and the termination of a bridge facility.
Full financial statements, along with certifications required under the Sarbanes-Oxley Act of 2002, the New York Stock Exchange rules and management’s discussion and analysis of
financial condition and results of operations, are provided in our 2010 Proxy Statement (“Proxy Statement”) and 2009 Annual Report on Form 10-K (“Form 10 -K”) filed with the
Securities and Exchange Commission. The Proxy Statement will be mailed to shareholders.
A copy of our Form 10 - K can be obtained at no charge by contacting our Investor Relations department at 800.833.1188 or by accessing our Web site at www.centurylink.com.
In addition to historical information, this Review includes certain forward-looking statements that are subject to uncertainties that could cause our actual results to differ materially from
such statements. Please refer to our Form 10-K for the year ended December 31, 2009 for a description of these and other uncertainties related to our business.
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Financial Highlights
$2,479 $2,448 $2,656 $2,600 $4,974
05 06 07 08 09
Operating Revenues
in millions
$967 $841 $1,030 $853 $1,574
05 06 07 08 09
Net Cash Provided by Operating Activities
in millions
$27.54 $28.11 $31.36 $31.54 $31.62
05 06 07 08 09
Book Value Per Share
in dollars
75 79 84 88 89
05 06 07 08 09
Broadband Deployment
% total access lines
$334 $370 $418 $366 $511
05 06 07 08 09
Net Income before extraordinary item
in millions
249 369 555 641 2,236
05 06 07 08 09
High-Speed Internet Customers
in thousands