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CONSOLIDATED STATEMENTS OF CASH FLOWS
€ in Millions, £ in Millions, $ in Millions
12 Months Ended
Jun. 30, 2015
USD ($)
Jun. 30, 2014
USD ($)
Jun. 30, 2013
USD ($)
Cash flows from operating activities      
Net loss $ (155.3) [1] $ (179.3) [2] $ (137.2)
Earnings from discontinued operations, net of income taxes   2.3 [2],[3] 8.4
Loss from continuing operations (155.3) (181.6) [2] (145.6)
Adjustments to reconcile net loss to net cash provided by operating activities of continuing operations      
Depreciation and amortization 406.2 [1] 338.2 [2] 324.5
Loss on extinguishment of debt 94.3 [1],[4] 1.9 [2],[5] 77.3
Non-cash interest expense 19.7 22.1 12.3
Stock-based compensation 200.7 253.7 105.8
Amortization of deferred revenue (72.1) (55.6) (43.1)
Additions to deferred revenue 149.1 163.8 61.7
Provision for bad debts 1.9 1.9 2.1
Foreign currency loss/(gain) on intercompany loans 24.4 [1] (4.7) [2] (0.1)
Non-cash loss on investments 0.9    
Lease termination charge     10.2
Deferred income taxes (13.3) 24.2 (25.9)
Changes in operating assets and liabilities, net of acquisitions      
Trade receivables (11.2) 20.5 (4.4)
Prepaid expenses (2.9) (1.4) 1.9
Payables to/(from) related parties, net (0.5) 5.6 16.8
Accounts payable and accrued liabilities (22.1) (6.6) 15.3
Other assets, current and non-current (7.5) (1.7) (11.1)
Other liabilities (6.9) (13.8) 7.2
Net cash provided by operating activities of continuing operations 605.4 566.5 404.9
Cash flows from investing activities      
Purchases of property and equipment (530.4) (360.8) (332.6)
Broadband stimulus grants received     9.3
Other   (0.3) 2.7
Net cash used in investing activities of continuing operations (1,386.1) (754.1) (2,804.0)
Cash flows from financing activities      
Proceeds from debt 1,787.3 423.6 3,189.3
Proceeds from revolving credit facility   195.0  
Proceeds from equity offerings and contributions 413.7   343.8
Direct costs associated with equity offerings (26.5)    
Distribution to parent   (0.1)  
Principal payments on long-term debt (1,288.5) (18.0) (1,058.6)
Payment of early redemption fees on debt extinguished (62.6)   (72.1)
Principal payments on capital lease obligations (3.5) (7.9) (1.9)
Payments on revolving credit facility   (195.0)  
Payment of debt issuance costs (24.2) (4.9) (83.1)
Change in restricted cash, net     22.6
Net cash provided by financing activities of continuing operations 795.7 392.7 2,340.0
Cash flows from continuing operations 15.0 205.1 (59.1)
Cash flows from discontinued operations      
Operating activities   15.7 20.9
Investing activities   (5.1) (1.7)
Financing activities   (7.4) (11.1)
Cash flows from discontinued operations   3.2 8.1
Discontinued operations, cash and cash equivalents, beginning of year   15.9 7.8
Cash flows from discontinued operations   3.2 8.1
Cash included in Onvoy, LLC spin-off   (19.1)  
Discontinued operations, cash and cash equivalents, end of period     15.9
Effect of changes in foreign exchange rates on cash (3.8) 1.0 (0.3)
Net increase/(decrease) in cash and cash equivalents 11.2 206.1 (51.3)
Continuing operations:      
Cash and cash equivalents, beginning of year 297.4 91.3 150.7
Cash flows from continuing operations 15.0 205.1 (59.1)
Effect of changes in foreign exchange rates on cash (3.8) 1.0 (0.3)
Cash and cash equivalents, end of period 308.6 297.4 91.3
Supplemental disclosure of non-cash investing and financing activities:      
Cash paid for interest, net of capitalized interest - continuing operations 191.2 175.3 143.5
Cash paid for interest, net of capitalized interest - discontinued operations   0.4 0.6
Cash paid for income taxes 14.5 5.7 2.8
Non-cash purchases of equipment through capital leasing 6.8 10.5 11.4
Continuing Operations      
Supplemental disclosure of non-cash investing and financing activities:      
Increase/(decrease) in accounts payable and accrued expenses for purchases of property and equipment 8.4 10.9 15.0
Discontinued Operations      
Supplemental disclosure of non-cash investing and financing activities:      
Increase/(decrease) in accounts payable and accrued expenses for purchases of property and equipment     0.1
Latisys Holdings, LLC [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired (677.5)    
Ideatek Systems, Inc., [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired (52.7)    
Neo Telecoms [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired (73.9)    
Colo Facilities Atlanta [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired (51.9)    
Geo Networks Limited [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired   (292.3)  
CoreXchange [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired $ 0.3 (17.5)  
Fiberlink, LLC [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired   (43.1)  
Access Communications, Inc [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired   $ (40.1)  
Core NAP, LP [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired     (7.1)
Litecast/Balticore, LLC [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired     (22.2)
First Telecom Services, LLC [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired     (109.7)
USCarrier Telecom, LLC [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired     (16.1)
FiberGate [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired     (118.3)
Abovenet, Inc [Member]      
Cash flows from investing activities      
Acquisition of net cash acquired     $ (2,210.0)
[1] The Company realized an increase in revenue and operating expenses beginning July 1, 2014 as a result of the acquisition of AtlantaNap and Neo.
[2] The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink.
[3] The Company spun-off its OVS operating unit on June 13, 2014.
[4] The Company completed debt refinancing transactions during the second, third and fourth quarters of Fiscal 2015, resulting in a loss on debt extinguishment for those respective periods. See Note 8— Long-Term Debt.
[5] The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that period. See Note 8— Long-Term Debt.