Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2015

Assets and Liabilities to be Reclassified - Discontinued Operations [Table Text Block]

As a result, we removed the following assets and liabilities in the second quarter of 2015.

(dollars in millions)	As of March 31, 2015
Property, plant and equipment, net	$	16.0
Current portion of long-term debt	0.5
Long-term debt, less current portion	24.6
Other non-current liabilities	6.6
Total liabilities	$	31.7

Condensed Income Statement [Table Text Block]

Wireless financial results for the three months ended March 31, 2015 and 2014 reported as Income from discontinued operations (net of tax) on the Condensed Consolidated Statements of Operations are as follows:

	Three Months Ended
	March 31,
(dollars in millions)	2015			2014
Revenue	$	4.4		$	44.7
Costs and expenses
Cost of products and services	12.0			19.8
Selling, general and administrative	1.3			6.2
Depreciation and amortization expense	28.6			15.8
Restructuring charges	6.4			—
Amortization of deferred gain	(6.5		)	(3.6		)
Total operating costs and expenses	41.8			38.2
Operating income (loss)	(37.4		)	6.5
Interest (income) expense	(0.8		)	1.5
Other expense	—			0.9
Gain on sale of wireless spectrum licenses	112.6			—
Income before income taxes	76.0			4.1
Income tax expense	27.1			3.0
Net income from discontinued operations	$	48.9		$	1.1

Summarized financial information for CyrusOne is as follows:

	Three months ended
(dollars in millions)	March 31, 2015			March 31, 2014
Revenue	$	85.7		$	77.5
Operating income	1.6			11.8
Net (loss) income	(7.2		)	0.7

Condensed Balance Sheet [Table Text Block]

Wireless assets and liabilities presented as discontinued operations as of March 31, 2015 and December 31, 2014 are as follows:

(dollars in millions)	March 31, 2015		December 31, 2014
Current assets
Prepaid rent - lease of spectrum license	$	—	$	3.2
Other current assets	0.4		1.5
Total current assets from discontinued operations	0.4		4.7
Property, plant and equipment	16.0		44.1
Other noncurrent assets	—		0.5
Total noncurrent assets from discontinued operations	16.0		44.6
Total assets from discontinued operations	$	16.4	$	49.3
Current liabilities
Current portion of long-term debt	$	0.5	$	1.6
Accounts payable	2.8		5.0
Restructuring reserve	18.4		15.4
Deferred gain on sale of wireless spectrum licenses	—		112.6
Other current liabilities	4.8		7.4
Total current liabilities from discontinued operations	26.5		142.0
Long-term debt, less current portion	24.6		81.6
Deferred gain on sale of towers	6.6		13.1
Other noncurrent liabilities	—		8.0
Total noncurrent liabilities from discontinued operations	31.2		102.7
Total liabilities related to discontinued operations	$	57.7	$	244.7

Capital Leases and Debt Retained - Discontinued Operations [Table Text Block]

The following capital lease and asset retirement obligations will be retained by the Company and have not been included in liabilities from discontinued operations at March 31, 2015:

	Continuing Operations		Discontinued Operations
	As of March 31, 2015		As of December 31, 2014
(dollars in millions)
Current portion of long-term debt	$	1.1	$	1.1
Long-term debt, less current portion	53.4		57.0
Other noncurrent liabilities	10.9		7.5
Total liabilities	$	65.4	$	65.6

Condensed Cash Flow Statement [Table Text Block]

Following is selected operating and investing cash flow activity from discontinued operations included in Condensed Consolidated Statements of Cash Flows

	Three Months Ended
	March 31,
(dollars in millions)	2015			2014
Depreciation and amortization	$	28.6		$	15.8
Amortization of deferred gain on sale of towers	(6.5		)	(3.6		)
Non-cash spectrum lease	3.2			—
Deferred gain on sale of spectrum	(112.6		)	—
Restructuring payments	(3.4		)	(0.3		)
Capital expenditures	—			(5.6		)