Supplemental Guarantor Information:

Debentures and notes, without collateral, issued by Windstream Services, LLC

In connection with the issuance of the 7.875 percent senior notes due November 1, 2017, the 8.125 percent senior notes due September 1, 2018, the 7.750 percent senior notes due October 15, 2020, the 7.750 percent senior notes due October 1, 2021, the 7.500 percent senior notes due June 1, 2022, the 7.500 percent senior notes due April 1, 2023 and the 6.375 percent senior notes due August 1, 2023 (“the guaranteed notes”), certain of Windstream Services’ wholly-owned subsidiaries (the “Guarantors”), provide guarantees of those debentures. These guarantees are full and unconditional, subject to certain customary release provisions, as well as joint and several. All personal property assets and related operations of the Guarantors are pledged as collateral on the senior secured credit facility of Windstream Services. Certain Guarantors may be subject to restrictions on their ability to distribute earnings to Windstream Services. The remaining subsidiaries of Windstream Services (the “Non-Guarantors”) are not guarantors of the guaranteed notes. Following the acquisitions of acquired businesses, the guaranteed notes were amended to include certain subsidiaries of the acquired businesses as guarantors. Windstream Holdings is not a guarantor of any Windstream Services debt instruments.

The following information presents condensed consolidating and combined statements of comprehensive income for the three month periods ended March 31, 2015 and 2014, condensed consolidating balance sheets as of March 31, 2015 and December 31, 2014, and condensed consolidating and combined statements of cash flows for the three month periods ended March 31, 2015 and 2014 of Windstream Services, the Guarantors and the Non-Guarantors. Investments consist of investments in net assets of subsidiaries held by Windstream Services and other subsidiaries, and have been presented using the equity method of accounting.



	Condensed Consolidating Statement of Comprehensive Income (Unaudited)
	Three Months Ended March 31, 2015
(Millions)	Windstream Services			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues and sales:
Service revenues	$	—		$	248.1		$	1,139.5		$	(5.8	)	$	1,381.8
Product sales	—			9.2			27.6			—			36.8
Total revenues and sales	—			257.3			1,167.1			(5.8		)	1,418.6
Costs and expenses:
Cost of services	—			90.5			595.3			(5.8		)	680.0
Cost of products sold	—			9.3			22.6			—			31.9
Selling, general and administrative	—			22.1			202.3			—			224.4
Depreciation and amortization	4.9			74.4			261.4			—			340.7
Merger and integration costs	—			—			14.1			—			14.1
Restructuring charges	—			1.2			5.8			—			7.0
Total costs and expenses	4.9			197.5			1,101.5			(5.8		)	1,298.1
Operating (loss) income	(4.9		)	59.8			65.6			—			120.5
Earnings from consolidated subsidiaries	46.5			15.1			0.6			(62.2		)	—
Other (expense) income, net	(1.4		)	0.2			—			—			(1.2		)
Intercompany interest income (expense)	32.4			(13.1		)	(19.3		)	—			—
Interest expense	(128.9		)	(1.5		)	(10.7		)	—			(141.1		)
(Loss) income before income taxes	(56.3		)	60.5			36.2			(62.2		)	(21.8		)
Income tax (benefit) expense	(61.9		)	20.8			13.7			—			(27.4		)
Net income	$	5.6		$	39.7		$	22.5		$	(62.2	)	$	5.6
Comprehensive income	$	1.5		$	39.7		$	22.5		$	(62.2	)	$	1.5

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Statement of Comprehensive Income (Unaudited)
	Three Months Ended March 31, 2014
(Millions)	Windstream Services			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues and sales:
Service revenues	$	—		$	259.6		$	1,164.3		$	(4.2	)	$	1,419.7
Product sales	—			10.0			35.2			—			45.2
Total revenues and sales	—			269.6			1,199.5			(4.2		)	1,464.9
Costs and expenses:
Cost of services	—			88.8			572.3			(3.2		)	657.9
Cost of products sold	—			9.5			31.6			—			41.1
Selling, general and administrative	—			22.7			216.7			(1.0		)	238.4
Depreciation and amortization	5.6			74.2			259.1			—			338.9
Merger and integration costs	—			—			7.4			—			7.4
Restructuring charges	—			2.2			10.7			—			12.9
Total costs and expenses	5.6			197.4			1,097.8			(4.2		)	1,296.6
Operating (loss) income	(5.6		)	72.2			101.7			—			168.3
Earnings from consolidated subsidiaries	80.1			12.3			0.6			(93.0		)	—
Other income (expense), net	0.5			41.4			(41.0		)	—			0.9
Intercompany interest income (expense)	31.6			(13.8		)	(17.8		)	—			—
Interest expense	(130.7		)	(1.5		)	(9.7		)	—			(141.9		)
(Loss) income before income taxes	(24.1		)	110.6			33.8			(93.0		)	27.3
Income tax (benefit) expense	(40.4		)	38.0			13.4			—			11.0
Net income	$	16.3		$	72.6		$	20.4		$	(93.0	)	$	16.3
Comprehensive income	$	7.1		$	72.6		$	20.4		$	(93.0	)	$	7.1

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Balance Sheet (Unaudited)
	As of March 31, 2015
(Millions)	Windstream Services		Guarantors		Non- Guarantors		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	16.7	$	1.0	$	56.3	$	—		$	74.0
Restricted cash	7.1		—		—		—			7.1
Accounts receivable (less allowance for doubtful accounts of $42.3)	—		140.6		517.9		—			658.5
Notes receivable - affiliate	—		4.8		—		(4.8		)	—
Affiliates receivable, net	—		1,052.3		1,997.9		(3,050.2		)	—
Inventories	—		38.4		24.6		—			63.0
Deferred income taxes	57.6		9.2		24.9		—			91.7
Prepaid expenses and other	28.6		20.0		123.0		—			171.6
Total current assets	110.0		1,266.3		2,744.6		(3,055.0		)	1,065.9
Investments in consolidated subsidiaries	10,056.1		980.8		278.5		(11,315.4		)	—
Notes receivable - affiliate	—		316.8		—		(316.8		)	—
Goodwill	1,649.5		825.6		1,877.7		—			4,352.8
Other intangibles, net	582.6		345.4		782.5		—			1,710.5
Net property, plant and equipment	9.5		1,243.5		4,062.0		—			5,315.0
Other assets	99.6		18.0		57.3		—			174.9
Total Assets	$	12,507.3	$	4,996.4	$	9,802.6	$	(14,687.2	)	$	12,619.1
Liabilities and Equity
Current Liabilities:
Current maturities of long-term debt	$	92.4	$	—	$	0.1	$	—		$	92.5
Current portion of interest rate swaps	28.5		—		—		—			28.5
Accounts payable	1.1		43.6		287.3		—			332.0
Affiliates payable, net	3,201.9		—		—		(3,050.2		)	151.7
Notes payable - affiliate	—		—		4.8		(4.8		)	—
Advance payments and customer deposits	—		15.6		198.9		—			214.5
Accrued taxes	0.1		19.9		64.3		—			84.3
Accrued interest	149.5		3.9		17.0		—			170.4
Other current liabilities	38.7		13.8		229.9		—			282.4
Total current liabilities	3,512.2		96.8		802.3		(3,055.0		)	1,356.3
Long-term debt	8,158.8		99.6		469.7		—			8,728.1
Notes payable - affiliate	—		—		316.8		(316.8		)	—
Deferred income taxes	669.7		409.2		749.9		—			1,828.8
Other liabilities	71.6		46.1		493.2		—			610.9
Total liabilities	12,412.3		651.7		2,831.9		(3,371.8		)	12,524.1
Commitments and Contingencies (See Note 6)
Equity:
Common stock	—		39.4		81.9		(121.3		)	—
Additional paid-in capital	87.0		3,794.9		4,002.0		(7,796.9		)	87.0
Accumulated other comprehensive income	8.0		—		13.6		(13.6		)	8.0
Retained earnings	—		510.4		2,873.2		(3,383.6		)	—
Total equity	95.0		4,344.7		6,970.7		(11,315.4		)	95.0
Total Liabilities and Equity	$	12,507.3	$	4,996.4	$	9,802.6	$	(14,687.2	)	$	12,619.1

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Balance Sheet (Unaudited)
	As of December 31, 2014
(Millions)	Windstream Services		Guarantors		Non- Guarantors		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	—	$	2.1	$	51.7	$	(26.0	)	$	27.8
Restricted cash	6.7		—		—		—			6.7
Accounts receivable (less allowance for doubtful accounts of $43.4)	—		136.5		499.0		—			635.5
Notes receivable - affiliate	—		4.8		—		(4.8		)	—
Affiliates receivable, net	—		1,057.7		2,066.9		(3,124.6		)	—
Inventories	—		36.9		26.8		—			63.7
Deferred income taxes	67.4		10.5		27.5		—			105.4
Prepaid expenses and other	35.5		20.4		108.7		—			164.6
Total current assets	109.6		1,268.9		2,780.6		(3,155.4		)	1,003.7
Investments in consolidated subsidiaries	10,001.3		965.6		255.6		(11,222.5		)	—
Notes receivable - affiliate	—		317.7		—		(317.7		)	—
Goodwill	1,649.5		825.6		1,877.7		—			4,352.8
Other intangibles, net	590.7		355.2		818.1		—			1,764.0
Net property, plant and equipment	9.8		1,269.4		4,133.1		—			5,412.3
Other assets	104.2		17.1		59.3		—			180.6
Total Assets	$	12,465.1	$	5,019.5	$	9,924.4	$	(14,695.6	)	$	12,713.4
Liabilities and Equity
Current Liabilities:
Current maturities of long-term debt	$	717.4	$	—	$	0.1	$	—		$	717.5
Current portion of interest rate swaps	28.5		—		—		—			28.5
Accounts payable	2.1		86.9		314.3		—			403.3
Affiliates payable, net	3,277.0		—		—		(3,124.6		)	152.4
Notes payable - affiliate	—		—		4.8		(4.8		)	—
Advance payments and customer deposits	—		16.6		198.1		—			214.7
Accrued taxes	0.2		23.8		71.2		—			95.2
Accrued interest	94.3		2.1		6.1		—			102.5
Other current liabilities	32.3		18.0		278.6		—			328.9
Total current liabilities	4,151.8		147.4		873.2		(3,129.4		)	2,043.0
Long-term debt	7,363.4		99.6		471.2		—			7,934.2
Notes payable - affiliate	—		—		317.7		(317.7		)	—
Deferred income taxes	658.6		418.8		801.2		—			1,878.6
Other liabilities	66.5		45.7		520.6		—			632.8
Total liabilities	12,240.3		711.5		2,983.9		(3,447.1		)	12,488.6
Commitments and Contingencies (See Note 6)
Equity:
Common stock	—		39.4		81.9		(121.3		)	—
Additional paid-in capital	212.7		3,794.9		4,002.0		(7,796.9		)	212.7
Accumulated other comprehensive income	12.1		—		14.5		(14.5		)	12.1
Retained earnings	—		473.7		2,842.1		(3,315.8		)	—
Total equity	224.8		4,308.0		6,940.5		(11,248.5		)	224.8
Total Liabilities and Equity	$	12,465.1	$	5,019.5	$	9,924.4	$	(14,695.6	)	$	12,713.4

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Statement of Cash Flows (Unaudited)
	Three Months Ended March 31, 2015
(Millions)	Windstream Services			Guarantors			Non- Guarantors			Eliminations			Consolidated
Cash Provided from Operations:
Net cash provided from operations	$	64.7		$	38.1		$	141.3		$	—		$	244.1
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(0.3		)	(29.5		)	(159.5		)	—			(189.3		)
Changes in restricted cash	(0.4		)	—			—			—			(0.4		)
Grant funds received for broadband stimulus projects	7.4			—			—			—			7.4
Network expansion funded by Connect America Fund - Phase I	—			(1.4		)	(6.9		)	—			(8.3		)
Other, net	(4.1		)	0.1			1.9			—			(2.1		)
Net cash provided from (used in) investing activities	2.6			(30.8		)	(164.5		)	—			(192.7		)
Cash Flows from Financing Activities:
Distributions to Windstream Holdings, Inc.	(151.8		)	—			—			—			(151.8		)
Repayments of debt and swaps	(325.4		)	—			—			—			(325.4		)
Proceeds of debt issuance	490.0			—			—			—			490.0
Intercompany transactions, net	(56.6		)	(5.1		)	35.7			26.0			—
Payments under capital lease obligations	—			(4.2		)	(7.0		)	—			(11.2		)
Other, net	(6.8		)	0.9			(0.9		)	—			(6.8		)
Net cash (used in) provided from financing activities	(50.6		)	(8.4		)	27.8			26.0			(5.2		)
Increase (decrease) in cash and cash equivalents	16.7			(1.1		)	4.6			26.0			46.2
Cash and Cash Equivalents:
Beginning of period	—			2.1			51.7			(26.0		)	27.8
End of period	$	16.7		$	1.0		$	56.3		$	—		$	74.0

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Statement of Cash Flows (Unaudited)
	Three Months Ended March 31, 2014
(Millions)	Windstream Services			Guarantors			Non- Guarantors			Eliminations		Consolidated
Cash Provided from Operations:
Net cash provided from operations	$	66.7		$	103.5		$	150.1		$	—	$	320.3
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(0.4		)	(10.1		)	(142.5		)	—		(153.0		)
Broadband network expansion funded by stimulus grants	—			(0.3		)	(6.8		)	—		(7.1		)
Changes in restricted cash	(0.9		)	—			—			—		(0.9		)
Grant funds received for broadband stimulus projects	11.4			—			—			—		11.4
Grant funds received from Connect America Fund - Phase I	—			9.4			16.6			—		26.0
Net cash provided from (used in) investing activities	10.1			(1.0		)	(132.7		)	—		(123.6		)
Cash Flows from Financing Activities:
Distributions to Windstream Holdings, Inc.	(150.7		)	—			—			—		(150.7		)
Repayments of debt and swaps	(331.6		)	—			—			—		(331.6		)
Proceeds of debt issuance	325.0			—			—			—		325.0
Intercompany transactions, net	97.4			(102.1		)	4.7			—		—
Payments under capital lease obligations	—			—			(7.8		)	—		(7.8		)
Other, net	(9.8		)	0.9			(0.9		)	—		(9.8		)
Net cash used in financing activities	(69.7		)	(101.2		)	(4.0		)	—		(174.9		)
Increase in cash and cash equivalents	7.1			1.3			13.4			—		21.8
Cash and Cash Equivalents:
Beginning of period	13.7			0.7			33.8			—		48.2
End of period	$	20.8		$	2.0		$	47.2		$	—	$	70.0

12. Supplemental Guarantor Information, Continued:

Debentures and notes, issued by PAETEC Holding Corporation

In connection with the acquisition of PAETEC on November 30, 2011, Windstream Services acquired the PAETEC 2018 Notes (“the guaranteed notes”). Windstream Services and all former wholly-owned subsidiaries of PAETEC (the “Guarantors”) provide guarantees of those debentures. These guarantees are full and unconditional, subject to certain customary release provisions, as well as joint and several. Certain Guarantors may be subject to restrictions on their ability to distribute earnings to Windstream Services. The remaining subsidiaries (the “Non-Guarantors”) of Windstream Services are not guarantors of these guaranteed notes.

The following information presents condensed consolidating and combined statements of comprehensive income for the three month periods ended March 31, 2015 and 2014, condensed consolidating balance sheets as of March 31, 2015 and December 31, 2014, condensed consolidating and combined statements of cash flows for the three month periods ended March 31, 2015 and 2014 of Windstream Services, the Guarantors and the Non-Guarantors. Investments consist of investments in net assets of subsidiaries held by Windstream Services and other subsidiaries, and have been presented using the equity method of accounting.



	Condensed Consolidating Statement of Comprehensive Income (Unaudited)
	Three Months Ended March 31, 2015
(Millions)	Windstream Services			PAETEC Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues and sales:
Service revenues	$	—		$	—		$	485.1		$	897.5		$	(0.8	)	$	1,381.8
Product sales	—			—			26.2			10.8			(0.2		)	36.8
Total revenues and sales	—			—			511.3			908.3			(1.0		)	1,418.6
Costs and expenses:
Cost of services	—			—			336.2			344.4			(0.6		)	680.0
Cost of products sold	—			—			21.0			11.2			(0.3		)	31.9
Selling, general and administrative	—			—			123.8			100.7			(0.1		)	224.4
Depreciation and amortization	4.9			—			102.8			233.0			—			340.7
Merger and integration costs	—			—			—			14.1			—			14.1
Restructuring charges	—			—			2.3			4.7			—			7.0
Total costs and expenses	4.9			—			586.1			708.1			(1.0		)	1,298.1
Operating (loss) income	(4.9		)	—			(74.8		)	200.2			—			120.5
Earnings (losses) from consolidated subsidiaries	46.5			(40.6		)	(0.3		)	—			(5.6		)	—
Other (expense) income, net	(1.4		)	—			0.1			0.1			—			(1.2		)
Intercompany interest income (expense)	32.4			—			—			(32.4		)	—			—
Interest (expense) income	(128.9		)	(9.7		)	0.2			(2.7		)	—			(141.1		)
(Loss) income before income taxes	(56.3		)	(50.3		)	(74.8		)	165.2			(5.6		)	(21.8		)
Income tax (benefit) expense	(61.9		)	(3.7		)	(28.7		)	66.9			—			(27.4		)
Net income (loss)	$	5.6		$	(46.6	)	$	(46.1	)	$	98.3		$	(5.6	)	$	5.6
Comprehensive income (loss)	$	1.5		$	(46.6	)	$	(46.1	)	$	98.3		$	(5.6	)	$	1.5

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Statement of Comprehensive Income (Unaudited)
	Three Months Ended March 31, 2014
(Millions)	Windstream Services			PAETEC Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues and sales:
Service revenues	$	—		$	—		$	486.5		$	934.4		$	(1.2	)	$	1,419.7
Product sales	—			—			30.5			14.4			0.3			45.2
Total revenues and sales	—			—			517.0			948.8			(0.9		)	1,464.9
Costs and expenses:
Cost of services	—			—			305.3			353.4			(0.8		)	657.9
Cost of products sold	—			—			27.8			13.0			0.3			41.1
Selling, general and administrative	—			—			125.8			113.0			(0.4		)	238.4
Depreciation and amortization	5.6			—			101.8			231.5			—			338.9
Merger and integration costs	—			—			—			7.4			—			7.4
Restructuring charges	—			—			4.4			8.5			—			12.9
Total costs and expenses	5.6			—			565.1			726.8			(0.9		)	1,296.6
Operating (loss) income	(5.6		)	—			(48.1		)	222.0			—			168.3
Earnings (losses) from consolidated subsidiaries	80.1			(25.7		)	(0.1		)	0.1			(54.4		)	—
Other income, net	0.5			—			0.3			0.1			—			0.9
Intercompany interest income (expense)	31.6			—			—			(31.6		)	—			—
Interest (expense) income	(130.7		)	(9.6		)	0.1			(1.7		)	—			(141.9		)
(Loss) income before income taxes	(24.1		)	(35.3		)	(47.8		)	188.9			(54.4		)	27.3
Income tax (benefit) expense	(40.4		)	(3.7		)	(18.4		)	73.5			—			11.0
Net income (loss)	$	16.3		$	(31.6	)	$	(29.4	)	$	115.4		$	(54.4	)	$	16.3
Comprehensive income (loss)	$	7.1		$	(31.6	)	$	(29.4	)	$	115.4		$	(54.4	)	$	7.1

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Balance Sheet (Unaudited)
	As of March 31, 2015
(Millions)	Windstream Services		PAETEC Issuer			Guarantors			Non- Guarantors		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	16.7	$	—		$	2.6		$	54.7	$	—		$	74.0
Restricted cash	7.1		—			—			—		—			7.1
Accounts receivable (less allowance for doubtful accounts of $42.3)	—		—			304.6			355.0		(1.1		)	658.5
Affiliates receivable, net	—		351.0			—			4,180.7		(4,531.7		)	—
Inventories	—		—			16.8			46.2		—			63.0
Deferred income taxes	57.6		—			—			75.2		(41.1		)	91.7
Prepaid expenses and other	28.6		—			34.9			106.1		2.0			171.6
Total current assets	110.0		351.0			358.9			4,817.9		(4,571.9		)	1,065.9
Investments in consolidated subsidiaries	10,056.1		—			0.6			—		(10,056.7		)	—
Goodwill	1,649.5		643.8			—			2,059.5		—			4,352.8
Other intangibles, net	582.6		—			387.2			740.7		—			1,710.5
Net property, plant and equipment	9.5		—			669.0			4,636.5		—			5,315.0
Deferred income taxes	—		218.1			83.3			—		(301.4		)	—
Other assets	99.6		—			16.6			58.7		—			174.9
Total Assets	$	12,507.3	$	1,212.9		$	1,515.6		$	12,313.3	$	(14,930.0	)	$	12,619.1
Liabilities and Equity
Current Liabilities:
Current maturities of long-term debt	$	92.4	$	—		$	—		$	0.1	$	—		$	92.5
Current portion of interest rate swaps	28.5		—			—			—		—			28.5
Accounts payable	1.1		—			95.5			235.4		—			332.0
Affiliates payable, net	3,201.9		—			1,475.9			—		(4,526.1		)	151.7
Advance payments and customer deposits	—		—			80.7			133.8		—			214.5
Accrued taxes	0.1		—			22.6			61.1		0.5			84.3
Accrued interest	149.5		14.8			1.7			4.4		—			170.4
Other current liabilities	38.7		4.9			73.0			208.1		(42.3		)	282.4
Total current liabilities	3,512.2		19.7			1,749.4			642.9		(4,567.9		)	1,356.3
Long-term debt	8,158.8		467.9			—			101.4		—			8,728.1
Deferred income taxes	669.7		—			—			1,460.5		(301.4		)	1,828.8
Accumulated losses in excess of investments in consolidated subsidiaries	—		250.9			—			—		(250.9		)	—
Other liabilities	71.6		1.6			53.1			484.6		—			610.9
Total liabilities	12,412.3		740.1			1,802.5			2,689.4		(5,120.2		)	12,524.1
Commitments and Contingencies (See Note 6)
Equity:
Common stock	—		—			—			67.7		(67.7		)	—
Additional paid-in capital	87.0		842.0			0.7			6,017.1		(6,859.8		)	87.0
Accumulated other comprehensive income	8.0		—			—			19.6		(19.6		)	8.0
Accumulated (deficit) retained earnings	—		(369.2		)	(287.6		)	3,519.5		(2,862.7		)	—
Total equity	95.0		472.8			(286.9		)	9,623.9		(9,809.8		)	95.0
Total Liabilities and Equity	$	12,507.3	$	1,212.9		$	1,515.6		$	12,313.3	$	(14,930.0	)	$	12,619.1

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Balance Sheet (Unaudited)
	As of December 31, 2014
(Millions)	Windstream Services		PAETEC Issuer			Guarantors			Non- Guarantors		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	—	$	—		$	4.6		$	49.2	$	(26.0	)	$	27.8
Restricted cash	6.7		—			—			—		—			6.7
Accounts receivable (less allowance for doubtful accounts of $43.4)	—		—			286.1			350.5		(1.1		)	635.5
Affiliates receivable, net	—		346.6			—			4,187.7		(4,534.3		)	—
Inventories	—		—			19.4			44.3		—			63.7
Deferred income taxes	67.4		—			—			76.5		(38.5		)	105.4
Prepaid expenses and other	35.5		—			30.9			96.5		1.7			164.6
Total current assets	109.6		346.6			341.0			4,804.7		(4,598.2		)	1,003.7
Investments in consolidated subsidiaries	10,001.3		—			0.9			—		(10,002.2		)	—
Goodwill	1,649.5		643.8			—			2,059.5		—			4,352.8
Other intangibles, net	590.7		—			413.6			759.7		—			1,764.0
Net property, plant and equipment	9.8		—			697.1			4,705.4		—			5,412.3
Deferred income taxes	—		219.0			63.7			—		(282.7		)	—
Other assets	104.2		—			16.8			59.6		—			180.6
Total Assets	$	12,465.1	$	1,209.4		$	1,533.1		$	12,388.9	$	(14,883.1	)	$	12,713.4
Liabilities and Equity
Current Liabilities:
Current maturities of long-term debt	$	717.4	$	—		$	—		$	0.1	$	—		$	717.5
Current portion of interest rate swaps	28.5		—			—			—		—			28.5
Accounts payable	2.1		—			101.9			299.3		—			403.3
Affiliates payable, net	3,277.0		—			1,430.4			—		(4,555.0		)	152.4
Advance payments and customer deposits	—		—			78.5			136.2		—			214.7
Accrued taxes	0.2		—			25.2			69.4		0.4			95.2
Accrued interest	94.3		3.7			1.8			2.7		—			102.5
Other current liabilities	32.3		4.9			83.0			248.3		(39.6		)	328.9
Total current liabilities	4,151.8		8.6			1,720.8			756.0		(4,594.2		)	2,043.0
Long-term debt	7,363.4		469.4			—			101.4		—			7,934.2
Deferred income taxes	658.6		—			—			1,502.7		(282.7		)	1,878.6
Accumulated losses in excess of investments in consolidated subsidiaries	—		210.4			—			—		(210.4		)	—
Other liabilities	66.5		1.7			53.0			511.6		—			632.8
Total liabilities	12,240.3		690.1			1,773.8			2,871.7		(5,087.3		)	12,488.6
Commitments and Contingencies (See Note 6)
Equity:
Common stock	—		—			—			67.7		(67.7		)	—
Additional paid-in capital	212.7		842.0			0.7			6,017.1		(6,859.8		)	212.7
Accumulated other comprehensive income	12.1		—			—			20.5		(20.5		)	12.1
Accumulated (deficit) retained earnings	—		(322.7		)	(241.4		)	3,411.9		(2,847.8		)	—
Total equity	224.8		519.3			(240.7		)	9,517.2		(9,795.8		)	224.8
Total Liabilities and Equity	$	12,465.1	$	1,209.4		$	1,533.1		$	12,388.9	$	(14,883.1	)	$	12,713.4

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Statement of Cash Flows (Unaudited)
	Three Months Ended March 31, 2015
(Millions)	Windstream Services			PAETEC Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Cash Provided from Operations:
Net cash provided from operations	$	64.7		$	4.4		$	11.7		$	163.5		$	(0.2	)	$	244.1
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(0.3		)	—			(42.4		)	(146.6		)	—			(189.3		)
Changes in restricted cash	(0.4		)	—			—			—			—			(0.4		)
Grant funds received for broadband stimulus projects	7.4			—			—			—			—			7.4
Network expansion funded by Connect America Fund - Phase I	—			—			—			(8.3		)	—			(8.3		)
Other, net	(4.1		)	—			—			2.0			—			(2.1		)
Net cash provided from (used in) investing activities	2.6			—			(42.4		)	(152.9		)	—			(192.7		)
Cash Flows from Financing Activities:
Distributions to Windstream Holdings, Inc.	(151.8		)	—			—			—			—			(151.8		)
Repayments of debt and swaps	(325.4		)	—			—			—			—			(325.4		)
Proceeds of debt issuance	490.0			—			—			—			—			490.0
Intercompany transactions, net	(56.6		)	(4.4		)	29.8			5.0			26.2			—
Payments under capital lease obligations	—			—			(1.1		)	(10.1		)	—			(11.2		)
Other, net	(6.8		)	—			—			—			—			(6.8		)
Net cash (used in) provided from financing activities	(50.6		)	(4.4		)	28.7			(5.1		)	26.2			(5.2		)
Increase (decrease) in cash and cash equivalents	16.7			—			(2.0		)	5.5			26.0			46.2
Cash and Cash Equivalents:
Beginning of period	—			—			4.6			49.2			(26.0		)	27.8
End of period	$	16.7		$	—		$	2.6		$	54.7		$	—		$	74.0

12. Supplemental Guarantor Information, Continued:



	Condensed Consolidating Statement of Cash Flows (Unaudited)
	Three Months Ended March 31, 2014
(Millions)	Windstream Services			PAETEC Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated
Cash Provided from Operations:
Net cash provided from operations	$	66.7		$	5.1		$	2.8		$	245.7		$	—	$	320.3
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(0.4		)	—			(36.2		)	(116.4		)	—		(153.0		)
Broadband network expansion funded by stimulus grants	—			—			—			(7.1		)	—		(7.1		)
Changes in restricted cash	(0.9		)	—			—			—			—		(0.9		)
Grant funds received for broadband stimulus projects	11.4			—			—			—			—		11.4
Grant funds received from Connect America Fund - Phase I	—			—			—			26.0			—		26.0
Net cash provided from (used in) investing activities	10.1			—			(36.2		)	(97.5		)	—		(123.6		)
Cash Flows from Financing Activities:
Distributions to Windstream Holdings, Inc.	(150.7		)	—			—			—			—		(150.7		)
Repayments of debt and swaps	(331.6		)	—			—			—			—		(331.6		)
Proceeds of debt issuance	325.0			—			—			—			—		325.0
Intercompany transactions, net	97.4			(5.1		)	32.2			(124.5		)	—		—
Payments under capital lease obligations	—			—			(2.0		)	(5.8		)	—		(7.8		)
Other, net	(9.8		)	—			—			—			—		(9.8		)
Net cash (used in) provided from financing activities	(69.7		)	(5.1		)	30.2			(130.3		)	—		(174.9		)
Increase (decrease) in cash and cash equivalents	7.1			—			(3.2		)	17.9			—		21.8
Cash and Cash Equivalents:
Beginning of period	13.7			—			7.8			26.7			—		48.2
End of period	$	20.8		$	—		$	4.6		$	44.6		$	—	$	70.0