FairPoint Communications 2013 Annual Report Download - page 65

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See accompanying notes to consolidated financial statements.
63
FAIRPOINT COMMUNICATIONS, INC. AND SUBSIDIARIES
Consolidated Statements of Stockholders' Equity (Deficit)
Years Ended December 31, 2013 and 2012, Three Hundred Forty-One Days Ended December 31, 2011 and
Twenty-Four Days Ended January 24, 2011
(in thousands)
Common stock Additional
paid-in capital
Retained
earnings
(deficit)
Accumulated
other
comprehensive
(loss) income
Total
stockholders'
equity (deficit)
Shares Amount
Balance at December 31, 2010
(Predecessor Company) 89,440 $ 894 $ 725,786 $ (1,101,294) $ (212,804) $ (587,418)
Net income — — — 586,907 — 586,907
Stock-based compensation expense — — 18——18
Employee benefit adjustment to
comprehensive income ————493493
Cancellation of Predecessor Company
common stock (89,440) (894) (725,804) 726,698 — —
Elimination of Predecessor Company
accumulated other comprehensive loss — — — (212,311) 212,311 —
Issuance of common stock 25,660 257 481,879 — — 482,136
Issuance of warrants — — 16,350 — — 16,350
Balance at January 24, 2011 25,660 $ 257 $ 498,229 $ — $ — $ 498,486
Net loss — — — (414,945) — (414,945)
Issuance of common stock 541 5 (5) — — —
Issuance of restricted stock 14—————
Forfeiture of restricted stock (18) —————
Stock-based compensation expense — — 3,810 — — 3,810
Employee benefit adjustment to
comprehensive income ————(193,494) (193,494)
Balance at December 31, 2011 26,197 $ 262 $ 502,034 $ (414,945) $ (193,494) $ (106,143)
Net loss — — — (153,294) — (153,294)
Issuance of common stock 100—————
Forfeiture of restricted stock (22) —————
Exercise of stock options 14—64——64
Stock-based compensation expense — — 4,055 — — 4,055
Employee benefit amounts reclassified
from accumulated other comprehensive
loss ————(62,495) (62,495)
Balance at December 31, 2012 26,289 $ 262 $ 506,153 $ (568,239) $ (255,989) $ (317,813)
Net Loss — — — (93,450) — (93,450)
Issuance of common stock 185 2 (2) — — —
Forfeiture of restricted stock (7) —————
Exercise of stock options 14—50——50
Stock-based compensation expense — — 5,807 — — 5,807
Interest rate swaps other
comprehensive loss ————(601) (601)
Employee benefit other comprehensive
income before reclassifications ————86,841 86,841
Employee benefit amounts reclassified
from accumulated other comprehensive
loss ————9,970 9,970
Balance at December 31, 2013 26,481 $ 264 $ 512,008 $ (661,689) $ (159,779) $ (309,196)