FairPoint Communications 2010 Annual Report Download - page 127
Download and view the complete annual report
Please find page 127 of the 2010 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
 |
 |
Table of Contents
Operating expenses:
Cost of services and sales, excluding depreciation and amortization 115,914 2,851 118,765
Selling, general and administrative expense, excluding depreciation and amortization 99,523 (111) 99,412
Depreciation and amortization 73,693 (1,329) 72,364
Other income (expense):
Interest expense (35,358) — (35,358)
Other income, net 2,207 — 2,207
Total other expense (33,151) — (33,151)
Reorganization items (9,635) (717) (10,352)
(8)
Income tax benefit 7,330 — 7,330
Weighted average shares outstanding:
Basic 89,424 — 89,424
Diluted 89,424 — 89,424
(Loss) earnings per share:
Basic $ (0.74) $ — $ (0.74)
Diluted $ (0.74) $ — $ (0.74)
The Fair Value Measurements and Disclosures Topic of the ASC (formerly SFAS No. 157, Fair Value Measurements (“SFAS No. 157”)) defines fair
value, establishes a framework for measuring fair value and establishes a hierarchy that categorizes and prioritizes the sources to be used to estimate fair
value. The Fair Value Measurements and Disclosures Topic of the ASC also expands financial statement disclosures about fair value measurements.
The carrying value of the Swaps at December 31, 2010 and 2009 represents the termination value of the swaps as determined by the respective
counterparties following the event of default described herein. See note 8 for more information.
The Company does not measure any financial assets or liabilities at fair value as of December 31, 2010 and 2009, however at the Effective Date, all assets
and liabilities will be remeasured at fair value under fresh start accounting. See note 21.
126