Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2014

Supplemental Guarantor Information Abstract

Supplemental Guarantor Information [Table Text Block]

The following information sets forth the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2014 and 2013, Condensed Consolidating Balance Sheets as of March 31, 2014 and December 31, 2013, and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2014 and 2013 of (1) the Parent Company, as the guarantor, (2) CBT, as the issuer, and (3) the non-guarantor subsidiaries on a combined basis.

Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
	Three Months Ended March 31, 2014
(dollars in millions)	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations			Total
Revenue	$	—		$	163.3		$	173.6		$	(14.4	)	$	322.5
Operating costs and expenses	6.1			112.9			161.0			(14.4		)	265.6
Operating (loss) income	(6.1		)	50.4			12.6			—			56.9
Interest expense (income), net	37.1			(0.8		)	4.0			—			40.3
Other (income) expense, net	(0.3		)	1.9			(1.5		)	—			0.1
(Loss) income before equity in earnings of subsidiaries and income taxes	(42.9		)	49.3			10.1			—			16.5
Income tax (benefit) expense	(11.5		)	18.1			2.9			—			9.5
Equity in earnings of subsidiaries, net of tax	38.4			—			—			(38.4		)	—
Net income	7.0			31.2			7.2			(38.4		)	7.0
Other comprehensive income	1.8			—			—			—			1.8
Total comprehensive income	$	8.8		$	31.2		$	7.2		$	(38.4	)	$	8.8
Net income	7.0			31.2			7.2			(38.4		)	7.0
Preferred stock dividends	2.6			—			—			—			2.6
Net income applicable to common shareowners	$	4.4		$	31.2		$	7.2		$	(38.4	)	$	4.4
	Three Months Ended March 31, 2013
	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations			Total
Revenue	$	—		$	159.3		$	180.5		$	(14.1	)	$	325.7
Operating costs and expenses	36.1			111.1			173.4			(14.1		)	306.5
Operating (loss) income	(36.1		)	48.2			7.1			—			19.2
Interest expense, net	35.8			4.5			7.6			—			47.9
Other (income) expense, net	(0.4		)	1.7			0.3			—			1.6
(Loss) income before equity in earnings of subsidiaries and income taxes	(71.5		)	42.0			(0.8		)	—			(30.3		)
Income tax (benefit) expense	(20.1		)	16.5			10.0			—			6.4
Equity in earnings of subsidiaries, net of tax	14.7			—			—			(14.7		)	—
Net (loss) income	(36.7		)	25.5			(10.8		)	(14.7		)	(36.7		)
Other comprehensive income (loss)	2.8			—			(0.2		)	—			2.6
Total comprehensive (loss) income	$	(33.9	)	$	25.5		$	(11.0	)	$	(14.7	)	$	(34.1	)
Net (loss) income	(36.7		)	25.5			(10.8		)	(14.7		)	(36.7		)
Preferred stock dividends	2.6			—			—			—			2.6
Net (loss) income applicable to common shareowners	$	(39.3	)	$	25.5		$	(10.8	)	$	(14.7	)	$	(39.3	)

Condensed Consolidating Balance Sheets
	As of March 31, 2014
(dollars in millions)	Parent (Guarantor)			CBT (Issuer)		Other Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	1.9		$	0.8	$	1.5	$	—		$	4.2
Receivables, net	1.9			—		175.1		—			177.0
Other current assets	20.4			23.6		48.8		(0.6		)	92.2
Total current assets	24.2			24.4		225.4		(0.6		)	273.4
Property, plant and equipment, net	0.1			709.1		183.0		—			892.2
Investment in CyrusOne	—			—		462.2		—			462.2
Goodwill and intangibles, net	—			2.2		103.4		—			105.6
Investments in and advances to subsidiaries	1,437.6			277.7		—		(1,715.3		)	—
Other noncurrent assets	332.8			5.8		193.4		(163.9		)	368.1
Total assets	$	1,794.7		$	1,019.2	$	1,167.4	$	(1,879.8	)	$	2,101.5
Current portion of long-term debt	$	5.4		$	3.7	$	3.0	$	—		$	12.1
Accounts payable	0.5			55.1		56.4		—			112.0
Other current liabilities	66.0			42.1		33.5		—			141.6
Total current liabilities	71.9			100.9		92.9		—			265.7
Long-term debt, less current portion	1,912.7			140.5		190.9		—			2,244.1
Other noncurrent liabilities	204.8			171.4		50.7		(164.5		)	262.4
Intercompany payables	276.0			—		192.6		(468.6		)	—
Total liabilities	2,465.4			412.8		527.1		(633.1		)	2,772.2
Shareowners’ (deficit) equity	(670.7		)	606.4		640.3		(1,246.7		)	(670.7		)
Total liabilities and shareowners’ equity (deficit)	$	1,794.7		$	1,019.2	$	1,167.4	$	(1,879.8	)	$	2,101.5
	As of December 31, 2013
	Parent (Guarantor)			CBT (Issuer)		Other Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	2.1		$	1.8	$	0.7	$	—		$	4.6
Receivables, net	2.6			—		152.2		—			154.8
Other current assets	4.4			24.1		63.9		(0.7		)	91.7
Total current assets	9.1			25.9		216.8		(0.7		)	251.1
Property, plant and equipment, net	0.1			706.5		196.2		—			902.8
Investment in CyrusOne	—			—		471.0		—			471.0
Goodwill and intangibles, net	—			2.3		103.8		—			106.1
Investments in and advances to subsidiaries	1,406.6			247.7		—		(1,654.3		)	—
Other noncurrent assets	359.1			6.1		178.9		(167.8		)	376.3
Total assets	$	1,774.9		$	988.5	$	1,166.7	$	(1,822.8	)	$	2,107.3
Current portion of long-term debt	$	5.4		$	3.9	$	3.3	$	—		$	12.6
Accounts payable	1.5			45.9		42.5		—			89.9
Other current liabilities	67.7			49.4		34.6		0.1			151.8
Total current liabilities	74.6			99.2		80.4		0.1			254.3
Long-term debt, less current portion	1,916.1			141.8		194.7		—			2,252.6
Other noncurrent liabilities	214.5			172.2		59.0		(168.6		)	277.1
Intercompany payables	246.4			—		199.7		(446.1		)	—
Total liabilities	2,451.6			413.2		533.8		(614.6		)	2,784.0
Shareowners’ (deficit) equity	(676.7		)	575.3		632.9		(1,208.2		)	(676.7		)
Total liabilities and shareowners’ equity (deficit)	$	1,774.9		$	988.5	$	1,166.7	$	(1,822.8	)	$	2,107.3

Condensed Consolidating Statements of Cash Flows

	Three Months Ended March 31, 2014
(dollars in millions)	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations		Total
Cash flows (used in) provided by operating activities	$	(29.9	)	$	52.5		$	15.2		$	—	$	37.8
Capital expenditures	—			(22.6		)	(11.7		)	—		(34.3		)
Proceeds from sale of assets	—			0.1			1.8			—		1.9
Dividends received from CyrusOne	—			—			7.1			—		7.1
Cash flows used in investing activities	—			(22.5		)	(2.8		)	—		(25.3		)
Funding between Parent and subsidiaries, net	37.1			(30.0		)	(7.1		)	—		—
Net (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days	(2.5		)	—			(1.6		)	—		(4.1		)
Repayment of debt	(1.3		)	(1.0		)	(2.9		)	—		(5.2		)
Proceeds from exercise of options and warrants	0.6			—			—			—		0.6
Other financing activities	(4.2		)	—			—			—		(4.2		)
Cash flows provided by (used in) financing activities	29.7			(31.0		)	(11.6		)	—		(12.9		)
(Decrease) increase in cash and cash equivalents	(0.2		)	(1.0		)	0.8			—		(0.4		)
Beginning cash and cash equivalents	2.1			1.8			0.7			—		4.6
Ending cash and cash equivalents	$	1.9		$	0.8		$	1.5		$	—	$	4.2
	Three Months Ended March 31, 2013
	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations		Total
Cash flows (used in) provided by operating activities	$	(27.5	)	$	42.2		$	27.6		$	—	$	42.3
Capital expenditures	—			(32.2		)	(18.7		)	—		(50.9		)
Proceeds from sale of assets	—			0.8			—			—		0.8
Cash divested from deconsolidation of CyrusOne	—			—			(12.2		)	—		(12.2		)
Other investing activities	—			—			0.4			—		0.4
Cash flows used in investing activities	—			(31.4		)	(30.5		)	—		(61.9		)
Funding between Parent and subsidiaries, net	24.4			(10.6		)	(13.8		)	—		—
Net increase in corporate credit and receivables facilities with initial maturities less than 90 days	—			—			2.0			—		2.0
Repayment of debt	—			(0.8		)	(2.3		)	—		(3.1		)
Proceeds from exercise of options and warrants	6.6			—			—			—		6.6
Other financing activities	(4.4		)	—			—			—		(4.4		)
Cash flows provided by (used in) financing activities	26.6			(11.4		)	(14.1		)	—		1.1
Decrease in cash and cash equivalents	(0.9		)	(0.6		)	(17.0		)	—		(18.5		)
Beginning cash and cash equivalents	3.8			1.9			17.9			—		23.6
Ending cash and cash equivalents	$	2.9		$	1.3		$	0.9		$	—	$	5.1

Supplemental Guarantor Information, High Yield Notes [Table Text Block]

The following information sets forth the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three months ended March 31, 2014 and 2013, Condensed Consolidating Balance Sheets as of March 31, 2014 and December 31, 2013, and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2014 and 2013 of (1) the Parent Company, as the issuer, (2) the guarantor subsidiaries on a combined basis, and (3) the non-guarantor subsidiaries on a combined basis.

Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
	Three Months Ended March 31, 2014
(dollars in millions)	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations			Total
Revenue	$	—		$	187.1		$	149.8		$	(14.4	)	$	322.5
Operating costs and expenses	6.1			172.9			101.0			(14.4		)	265.6
Operating (loss) income	(6.1		)	14.2			48.8			—			56.9
Interest expense (income), net	37.1			3.6			(0.4		)	—			40.3
Other (income) expense, net	(0.3		)	3.5			(3.1		)	—			0.1
(Loss) income before equity in earnings of subsidiaries and income taxes	(42.9		)	7.1			52.3			—			16.5
Income tax (benefit) expense	(11.5		)	2.3			18.7			—			9.5
Equity in earnings of subsidiaries, net of tax	38.4			—			—			(38.4		)	—
Net income	7.0			4.8			33.6			(38.4		)	7.0
Other comprehensive income	1.8			—			—			—			1.8
Total comprehensive income	$	8.8		$	4.8		$	33.6		$	(38.4	)	$	8.8
Net income	7.0			4.8			33.6			(38.4		)	7.0
Preferred stock dividends	2.6			—			—			—			2.6
Net income applicable to common shareowners	$	4.4		$	4.8		$	33.6		$	(38.4	)	$	4.4
	Three Months Ended March 31, 2013
	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations			Total
Revenue	$	—		$	175.7		$	164.1		$	(14.1	)	$	325.7
Operating costs and expenses	36.1			170.1			114.4			(14.1		)	306.5
Operating (loss) income	(36.1		)	5.6			49.7			—			19.2
Interest expense, net	35.8			3.9			8.2			—			47.9
Other (income) expense, net	(0.4		)	4.7			(2.7		)	—			1.6
(Loss) income before equity in earnings of subsidiaries and income taxes	(71.5		)	(3.0		)	44.2			—			(30.3		)
Income tax (benefit) expense	(20.1		)	9.5			17.0			—			6.4
Equity in earnings of subsidiaries, net of tax	14.7			0.7			—			(15.4		)	—
Net (loss) income	(36.7		)	(11.8		)	27.2			(15.4		)	(36.7		)
Other comprehensive income (loss)	2.8			—			(0.2		)	—			2.6
Total comprehensive (loss) income	$	(33.9	)	$	(11.8	)	$	27.0		$	(15.4	)	$	(34.1	)
Net (loss) income	(36.7		)	(11.8		)	27.2			(15.4		)	(36.7		)
Preferred stock dividends	2.6			—			—			—			2.6
Net (loss) income applicable to common shareowners	$	(39.3	)	$	(11.8	)	$	27.2		$	(15.4	)	$	(39.3	)

Condensed Consolidating Balance Sheets
	As of March 31, 2014
(dollars in millions)	Parent (Issuer)			Guarantors			Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	1.9		$	1.1		$	1.2	$	—		$	4.2
Receivables, net	1.9			9.4			165.7		—			177.0
Other current assets	20.4			45.1			27.3		(0.6		)	92.2
Total current assets	24.2			55.6			194.2		(0.6		)	273.4
Property, plant and equipment, net	0.1			182.6			709.5		—			892.2
Investment in CyrusOne	—			462.2			—		—			462.2
Goodwill and intangibles, net	—			103.4			2.2		—			105.6
Investments in and advances to subsidiaries	1,437.6			(1.7		)	254.6		(1,690.5		)	—
Other noncurrent assets	332.8			194.6			4.6		(163.9		)	368.1
Total assets	$	1,794.7		$	996.7		$	1,165.1	$	(1,855.0	)	$	2,101.5
Current portion of long-term debt	$	5.4		$	3.0		$	3.7	$	—		$	12.1
Accounts payable	0.5			79.7			31.8		—			112.0
Other current liabilities	66.0			35.3			40.3		—			141.6
Total current liabilities	71.9			118.0			75.8		—			265.7
Long-term debt, less current portion	1,912.7			86.3			245.1		—			2,244.1
Other noncurrent liabilities	204.8			53.1			169.0		(164.5		)	262.4
Intercompany payables	276.0			129.4			51.9		(457.3		)	—
Total liabilities	2,465.4			386.8			541.8		(621.8		)	2,772.2
Shareowners’ (deficit) equity	(670.7		)	609.9			623.3		(1,233.2		)	(670.7		)
Total liabilities and shareowners’ equity (deficit)	$	1,794.7		$	996.7		$	1,165.1	$	(1,855.0	)	$	2,101.5
	As of December 31, 2013
	Parent (Issuer)			Guarantors			Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	2.1		$	0.3		$	2.2	$	—		$	4.6
Receivables, net	2.6			7.2			145.0		—			154.8
Other current assets	4.4			60.7			27.3		(0.7		)	91.7
Total current assets	9.1			68.2			174.5		(0.7		)	251.1
Property, plant and equipment, net	0.1			194.1			708.6		—			902.8
Investment in CyrusOne	—			471.0			—		—			471.0
Goodwill and intangibles, net	—			103.8			2.3		—			106.1
Investments in and advances to subsidiaries	1,406.6			(1.6		)	218.2		(1,623.2		)	—
Other noncurrent assets	359.1			179.9			5.1		(167.8		)	376.3
Total assets	$	1,774.9		$	1,015.4		$	1,108.7	$	(1,791.7	)	$	2,107.3
Current portion of long-term debt	$	5.4		$	3.0		$	4.2	$	—		$	12.6
Accounts payable	1.5			72.3			16.1		—			89.9
Other current liabilities	67.7			36.9			47.1		0.1			151.8
Total current liabilities	74.6			112.2			67.4		0.1			254.3
Long-term debt, less current portion	1,916.1			87.0			249.5		—			2,252.6
Other noncurrent liabilities	214.5			61.3			169.9		(168.6		)	277.1
Intercompany payables	246.4			149.9			33.2		(429.5		)	—
Total liabilities	2,451.6			410.4			520.0		(598.0		)	2,784.0
Shareowners’ (deficit) equity	(676.7		)	605.0			588.7		(1,193.7		)	(676.7		)
Total liabilities and shareowners’ equity (deficit)	$	1,774.9		$	1,015.4		$	1,108.7	$	(1,791.7	)	$	2,107.3

Condensed Consolidating Statements of Cash Flows
	Three Months Ended March 31, 2014
(dollars in millions)	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations		Total
Cash flows (used in) provided by operating activities	$	(29.9	)	$	26.7		$	41.0		$	—	$	37.8
Capital expenditures	—			(11.7		)	(22.6		)	—		(34.3		)
Proceeds from sale of assets	—			—			1.9			—		1.9
Dividends received from CyrusOne	—			7.1			—			—		7.1
Cash flows used in investing activities	—			(4.6		)	(20.7		)	—		(25.3		)
Funding between Parent and subsidiaries, net	37.1			(20.6		)	(16.5		)	—		—
Net (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days	(2.5		)	—			(1.6		)	—		(4.1		)
Repayment of debt	(1.3		)	(0.7		)	(3.2		)	—		(5.2		)
Proceeds from exercise of options and warrants	0.6			—			—			—		0.6
Other financing activities	(4.2		)	—			—			—		(4.2		)
Cash flows provided by (used in) financing activities	29.7			(21.3		)	(21.3		)	—		(12.9		)
(Decrease) increase in cash and cash equivalents	(0.2		)	0.8			(1.0		)	—		(0.4		)
Beginning cash and cash equivalents	2.1			0.3			2.2			—		4.6
Ending cash and cash equivalents	$	1.9		$	1.1		$	1.2		$	—	$	4.2
	Three Months Ended March 31, 2013
	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations		Total
Cash flows (used in) provided by operating activities	$	(27.5	)	$	(8.4	)	$	78.2		$	—	$	42.3
Capital expenditures	—			(11.0		)	(39.9		)	—		(50.9		)
Proceeds from sale of assets	—			—			0.8			—		0.8
Cash divested from deconsolidation of CyrusOne	—			—			(12.2		)	—		(12.2		)
Other investing activities	—			—			0.4			—		0.4
Cash flows used in investing activities	—			(11.0		)	(50.9		)	—		(61.9		)
Funding between Parent and subsidiaries, net	24.4			21.0			(45.4		)	—		—
Net increase in corporate credit and receivables facilities with initial maturities less than 90 days	—			—			2.0			—		2.0
Repayment of debt	—			(1.5		)	(1.6		)	—		(3.1		)
Proceeds from exercise of options and warrants	6.6			—			—			—		6.6
Other financing activities	(4.4		)	—			—			—		(4.4		)
Cash flows provided by (used in) financing activities	26.6			19.5			(45.0		)	—		1.1
(Decrease) increase in cash and cash equivalents	(0.9		)	0.1			(17.7		)	—		(18.5		)
Beginning cash and cash equivalents	3.8			0.3			19.5			—		23.6
Ending cash and cash equivalents	$	2.9		$	0.4		$	1.8		$	—	$	5.1