Cincinnati Bell 2009 Annual Report Download - page 169
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Year Ended December 31, 2007
(dollars in millions)
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Revenue .................................... $ — $700.4 $691.0 $ (42.8) $1,348.6
Operating costs and expenses ................... 23.7 632.6 452.7 (42.8) 1,066.2
Operating income (loss) ....................... (23.7) 67.8 238.3 — 282.4
Interest expense .............................. 137.8 25.3 19.6 (27.8) 154.9
Other expense (income) ........................ (31.7) 1.3 0.2 27.8 (2.4)
Income (loss) before equity in earnings of
subsidiaries and income taxes ................. (129.8) 41.2 218.5 — 129.9
Income tax expense (benefit) ................... (37.2) 16.2 77.7 — 56.7
Equity in earnings of subsidiaries, net of tax ....... 165.8 — — (165.8) —
Net income ................................. 73.2 25.0 140.8 (165.8) 73.2
Preferred stock dividends ...................... 10.4 — — — 10.4
Net income applicable to common shareowners ..... $ 62.8 $ 25.0 $140.8 $(165.8) $ 62.8
Condensed Consolidating Balance Sheets
As of December 31, 2009
Parent
(Issuer) Guarantors Non-guarantors Eliminations Total
Cash and cash equivalents .................. $ 20.1 $ 0.8 $ 2.1 $ — $ 23.0
Receivables, net .......................... — 0.9 159.0 — 159.9
Other current assets ....................... 47.8 64.1 26.9 (0.7) 138.1
Total current assets ........................ 67.9 65.8 188.0 (0.7) 321.0
Property, plant and equipment, net ........... 0.8 492.9 629.6 — 1,123.3
Goodwill and other intangibles, net ........... — 179.2 2.8 — 182.0
Investments in and advances to subsidiaries .... 912.4 — 21.9 (934.3) —
Other noncurrent assets .................... 329.7 188.6 9.1 (89.4) 438.0
Total assets ........................... $1,310.8 $926.5 $851.4 $(1,024.4) $2,064.3
Current portion of long-term debt ............ $ 2.1 $ 12.4 $ 1.3 $ — $ 15.8
Accounts payable ......................... 0.4 73.0 32.8 — 106.2
Other current liabilities .................... 67.8 81.0 53.1 (0.1) 201.8
Total current liabilities ..................... 70.3 166.4 87.2 (0.1) 323.8
Long-term debt, less current portion .......... 1,558.4 104.5 300.4 — 1,963.3
Other noncurrent liabilities ................. 328.5 104.4 88.9 (90.0) 431.8
Intercompany payables .................... 8.2 241.3 69.4 (318.9) —
Total liabilities ........................... 1,965.4 616.6 545.9 (409.0) 2,718.9
Shareowners’ equity (deficit) ................ (654.6) 309.9 305.5 (615.4) (654.6)
Total liabilities and shareowners’ equity
(deficit) ............................ $1,310.8 $926.5 $851.4 $(1,024.4) $2,064.3
99
Form 10-K