Windstream 2014 Annual Report Download - page 147

F-31
SELECTED FINANCIAL DATA
Selected consolidated financial data for Windstream Holdings is as follows for the years ended December 31:
(Millions, except per share amounts) 2014 2013 2012 2011 2010
Revenues and sales $ 5,829.5 $ 5,988.1 $ 6,139.5 $ 4,279.6 $ 3,710.7
Operating income 507.1 1,009.0 883.9 962.9 1,033.5
Other income (expense), net 0.1 (12.5)4.6(0.1)(3.5)
(Loss) gain on extinguishment of debt — (28.5)1.9
(136.1)—
Interest expense (571.8)(627.7)(625.1)(558.3)(521.7)
(Loss) income from continuing operations before income
taxes (64.6) 340.3 265.3 268.4 508.3
Income tax (benefit) expense (25.1) 105.3 98.2 99.4 195.6
(Loss) income from continuing operations (39.5) 235.0 167.1 169.0 312.7
Discontinued operations, including tax expense of $9.8,
$2.2, and $0, for 2013, 2012 and 2011, respectively — 6.0 0.9 0.5 —
Net (loss) income $(39.5) $ 241.0 $ 168.0 $ 169.5 $ 312.7
Basic and diluted (loss) earnings per share:
From continuing operations ($.07) $.39 $.28 $.32 $.66
From discontinued operations — .01 — — —
Net (loss) income ($.07) $.40 $.28 $.32 $.66
Dividends declared per common share $1.00 $1.00 $1.00 $1.00 $1.00
Balance sheet data
Total assets $ 12,713.4 $ 13,444.6 $ 13,982.0 $ 14,392.1 $ 11,303.9
Total long-term debt and capital and other lease
obligations (excluding premium and discount) $ 8,806.8 $ 8,757.6 $ 8,934.4 $ 9,053.2 $ 7,365.5
Total equity $ 224.8 $ 840.2 $ 1,104.8 $ 1,495.3 $ 831.0
Notes to Selected Financial Information:
 The selected consolidated financial data of Windstream Corp. are identical to Windstream Holdings with the exception
of certain expenses directly incurred by Windstream Holdings principally consisting of audit, legal and board of director
fees, Nasdaq listing fees, other shareholder-related costs, income taxes, common stock activity, and payables from
Windstream Corp. to Windstream Holdings. In 2014 and 2013, the amount of pretax expenses directly incurred by
Windstream Holdings totaled approximately $2.3 million and $0.5 million or $1.4 million and $0.3 million on an after-
tax basis, respectively. Earnings per common share and dividends declared per common share information for Windstream
Corp. would not be applicable following the formation of WIndstream Holdings completed on August 30, 2013.
 Explanations for significant events affecting our historical operating trends during the years 2012 through 2014 are
provided in Management’s Discussion and Analysis of Results of Operations and Financial Condition.
 Effective during the fourth quarter of 2011, we changed our method of recognizing actuarial gains and losses for pension
benefits to recognize actuarial gains and losses in our operating results in the year in which the gains and losses occur.
The effect of this change in methodology can create volatility in actuarial gains and losses recognized based on market
fluctuations which impacts pension expense (income) for the year. Pension expense (income) was $128.3 million, $(115.3)
million, $67.4 million, $166.8 million and $54.1 million in 2014, 2013, 2012, 2011, and 2010, respectively.
 Acquisitions which affected our historical operating trends during the periods 2010 through 2012. On November 30,
2011, we acquired PAETEC. During 2010, Q-Comm, Hosted Solutions, Iowa Telecom and Nuvox were acquired on
December 2, 2010, December 1, 2010, June 1, 2010 and February 8, 2010, respectively.