FairPoint Communications 2010 Annual Report Download - page 75
Download and view the complete annual report
Please find page 75 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
Balance at December 31, 2007 53,761 $ 538 $ 484,383 $ 634,241 $ — $1,119,162
Net loss — — — (68,525) — (68,525)
Acquisition of FairPoint 35,265 352 315,938 — — 316,290
Exercise of restricted units 6 — — — — —
Issuance of restricted shares 50 — — — — —
Restricted stock cancelled for
withholding tax (15) — — — — —
Forfeiture of restricted shares (71) — — — — —
Stock based compensation expense — — 4,408 — — 4,408
Dividends declared — — (69,010) — — (69,010)
Return of capital to Verizon — — — (1,160,000) — (1,160,000)
Issuance of bonds to Verizon — — — (539,831) — (539,831)
Contributions by Verizon — — — 381,890 — 381,890
Net liabilities contributed back to
Verizon — — — 124,439 — 124,439
Employee benefit adjustment to
comprehensive income — — — 49,467 (134,504) (85,037)
Balance at December 31, 2008 88,996 $ 890 $ 735,719 $ (578,319) $ (134,504) $ 23,786
Net loss (241,396) (241,396)
Issuance of 2008 Interim Awards 502 5 (5) — — —
Issuance of restricted shares 524 5 (5) — — —
Restricted stock cancelled for
withholding tax (20) — — — — —
Restricted units cancelled for
withholding tax — — (430) — — (430)
Stock based compensation expense — — 2,052 — — 2,052
Net assets contributed back to
Verizon — — (12,019) — — (12,019)
Employee benefit adjustment to
comprehensive income — — — — 9,580 9,580
Balance at December 31, 2009 90,002 $ 900 $ 725,312 $ (819,715) $ (124,924) $ (218,427)
Net loss (281,579) (281,579)
Restricted stock cancelled for
withholding tax (13) — — — — —
Forfeiture of restricted shares (549) (6) 6 — — —
Stock based compensation expense — — 468 — — 468
Employee benefit adjustment to
comprehensive income — — — — (87,880) (87,880)
Balance at December 31, 2010 89,440 $ 894 $725,786 $(1,101,294) $ (212,804) $ (587,418)
See accompanying notes to consolidated financial statements.
74