FairPoint Communications 2006 Annual Report Download - page 60
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Balance at December 31, 2003 — — 8,643 86 809 8 198,470 —1,366 (347,883)(147,953)
Net income — — — — — — — — — (23,682)(23,682)
Compensation expense for stock-based awards — — — — — — 49 — — — 49
Other comprehensive loss from available-for-sale
securities — — — — — — — — (1,469)—(1,469)
Other comprehensive income from cash flow hedges — — — — — — — — 103 —103
Balance at December 31, 2004 — — 8,643 86 809 8 198,519 — — (371,565)(172,952)
Net income — — — — — — — — — 28,930 28,930
Net proceeds from issuance of common stock 25,000 250 — — — — 431,671 — — — 431,921
Transfer of Class A and Class C to common stock 9,452 94 (8,643)(86)(809)(8)— — — — —
Exercise of stock options 98 1— — — — 183 — — — 184
Issuance of restricted shares, net of forfeitures 471 5 — — — — 8,545 (8,550)— — —
Recognition of compensation expense — — — — — — 275 2,075 — — 2,350
Dividends declared — — — — — — (49,062)— — — (49,062)
Other comprehensive income from cash flow hedges — — — — — — — — 5,477 —5,477
Balance at December 31, 2005
35,021 $ 350 —$ — —
$
— $ 590,131 $ (6,475)$ 5,477 $ (342,635)$ 246,848
Net income — — — — — — — — — 31,090 31,090
Issuance of restricted shares 216 2 — — — — — — — — 2
Restricted stock cancelled for withholding tax (42)— — — — — (633)— — — (633)
Exercise of stock options and restricted units 23 — — — — — 24 — — — 24
Stock based compensation expense — — — — — — 2,859 — — — 2,859
Reclassify unearned compensation — — — — — — (6,475)6,475 — — —
Dividends declared — — — — — — (55,370)— — — (55,370)
Other comprehensive loss from cash flow hedges — — — — — — — — (101)—(101)
Balance at December 31, 2006
35,218 $ 352 —$ — —
$
—$ 530,536 $ — $ 5,376 $ (311,545)$ 224,719
See accompanying notes to consolidated financial statements.
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