Windstream 2013 Annual Report Download - page 227

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-91
14. Supplemental Guarantor Information, Continued:
Condensed Consolidated Statement of Cash Flows
For the Year Ended December 31, 2013
(Millions) Windstream
Corp. PAETEC
Issuer Guarantors Non-
Guarantors Eliminations Consolidated
Cash Provided from Operations:
Net income (loss) $ 241.3 $ (99.3) $ (73.7) $ 608.4 $ (435.4) $ 241.3
Adjustments to reconcile net income to net
cash provided from operations:
Depreciation and amortization — — 397.3 944.2 — 1,341.5
Provision for doubtful accounts — — 17.7 45.8 — 63.5
Equity in (earnings) losses from subsidiaries (500.0) 66.4 0.2 (0.3) 433.7 —
Share-based compensation expense — — 16.6 28.3 — 44.9
Pension income — — — (115.3) — (115.3)
Deferred income taxes 36.2 27.4 (24.4) 95.6 — 134.8
Unamortized net discount (premium) on
retired debt 3.1 (41.2) — — — (38.1)
Amortization of unrealized losses on
de-designated interest rate swaps 35.9 — — — — 35.9
Gain from sale of software business — — (14.4) — — (14.4)
Plan curtailment and other, net 27.5 (8.0)(3.2)(32.1) — (15.8)
Changes in operating assets and liabilities, net (24.1) (1.3)(62.6)(70.5) — (158.5)
Net cash (used in) provided
from operations (180.1) (56.0) 253.5 1,504.1 (1.7) 1,519.8
Cash Flows from Investing Activities:
Additions to property, plant and equipment — — (161.2)(679.8) — (841.0)
Broadband network expansion funded by
stimulus grants — — — (36.1) — (36.1)
Changes in restricted cash 15.3 — 1.5 — — 16.8
Grant funds received for broadband
stimulus projects 68.0 — — — — 68.0
Grant funds received from Connect America
Fund — — — 60.7 — 60.7
Disposition of software business — — 30.0 — — 30.0
Other, net — — — (6.0) — (6.0)
Net cash provided from (used in)
investing activities 83.3 — (129.7)(661.2) — (707.6)
Cash Flows from Financing Activities:
Dividends paid to shareholders (444.6) — — — — (444.6)
Distributions to Windstream Holdings (0.4) — (149.0) — — (149.4)
Repayment of debt and swaps (4,500.9) (650.0) — (10.1) — (5,161.0)
Proceeds of debt issuance 4,919.6 — — — — 4,919.6
Debt issuance costs (30.0) — — — — (30.0)
Intercompany transactions, net 116.0 706.0 21.4 (845.1) 1.7 —
Payment under capital lease obligations — — (14.9)(9.0) — (23.9)
Other, net (6.7) — — — — (6.7)
Net cash provided from (used in)
financing activities 53.0 56.0 (142.5)(864.2) 1.7 (896.0)
Decrease in cash and cash equivalents (43.8) — (18.7)(21.3) — (83.8)
Cash and Cash Equivalents:
Beginning of period 57.5 — 26.5 48.0 — 132.0
End of period $ 13.7 $ — $ 7.8 $ 26.7 $ — $ 48.2