FairPoint Communications 2005 Annual Report Download - page 53
Download and view the complete annual report
Please find page 53 of the 2005 FairPoint Communications annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43 -
44 -
45 -
46 -
47 -
48 -
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
 |
 |
for such notes. We redeemed the remaining outstanding 9 2% notes and floating rate notes on March 10, 2005.
In 2000, the Company issued $200.0 million aggregate principal amount of the 12 2% notes. These notes were to mature on May 10, 2010. On
February 9, 2005, we repurchased $173.1 million principal amount of the 12 2% notes tendered pursuant to the tender offer for such notes. We redeemed the
remaining outstanding 12 2% notes on May 2, 2005.
In 2003, the Company issued $225.0 million aggregate principal amount of the 11 8% notes. These notes were to mature on March 1, 2010. These notes
are general unsecured obligations of the Company, ranking in right of payment with all existing and future senior debt of the Company, including
all obligations under our credit facility, and senior in right of payment to all existing and future subordinated indebtedness of the Company. On February 9,
2005, we repurchased $223.0 million principal amount of the 11 8% notes tendered pursuant to the tender offer for such notes. At December 31, 2005,
$2.1 million principal amount of the 11 8% notes remains outstanding.
The tables set forth below contain information with regard to disclosures about contractual obligations and commercial commitments.
The following table discloses aggregate information about our contractual obligations as of December 31, 2005 and the periods in which payments are
due:
Contractual obligations:
Long term debt $607,425 $677 $1,467 $2,359 $602,922
Operating leases(1) 8,088 2,339 2,105 1,331 2,313
Minimum purchase contracts 2,438 1,878 477 83 —
Total contractual cash obligations $617,951 $ 4,894 $ 4,049 $3,773 $605,235
(1) Real property lease obligations of $1.2 million associated with the discontinued operations discussed in note 13 to our consolidated financial statements
are stated in this table at total contractual amounts. However, we have negotiated lease terminations on these properties to reduce the total obligation.
Operating leases from continuing operations of $6.9 million are also included.
The following table discloses aggregate information about our derivative financial instruments as of December 31, 2005, the source of fair value of these
instruments and their maturities.
Source of fair value:
Derivative financial instruments(1) $8,779 3,130 5,429 207 13
(1) Fair value of interest rate swaps at December 31, 2005 was provided by the counterparties to the underlying contracts using consistent methodologies.
51
1
1
1
1
7
7
7