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Supplemental Guarantor Information HY
 12 Months Ended
Dec. 31, 2015
Supplemental Guarantor Information Abstract  
Supplemental Guarantor Information High Yield [Text Block]
Supplemental Guarantor Information - 8 3/8% Senior Notes due 2020 and 8 3/4% Senior Subordinated Notes due 2018
As of December 31, 2015, the Parent Company’s 8 3/8% Senior Notes due 2020 are guaranteed by the following subsidiaries: Cincinnati Bell Entertainment Inc., Cincinnati Bell Any Distance Inc., Cincinnati Bell Telecommunications Services LLC, Cincinnati Bell Wireless LLC, CBTS Software LLC, Cincinnati Bell Technology Solutions Inc., Cincinnati Bell Any Distance of Virginia LLC, eVolve Business Solutions LLC, Data Center Investments Inc., Data Center Investments Holdco LLC, Data Centers South Inc. and Data Centers South Holdings LLC.
During the second quarter of 2015, the Company redeemed the remaining $300.0 million of outstanding 8 ¾% Senior Subordinated Notes due 2018.
The Parent Company owns directly or indirectly 100% of each guarantor and each guarantee is full and unconditional, and joint and several. In certain customary circumstances, a subsidiary may be released from its guarantee obligation. These circumstances are defined as follows:
•
upon the sale of all of the capital stock of a subsidiary,
•
if the Company designates the subsidiary as an unrestricted subsidiary under the terms of the indentures, or
•
if the subsidiary is released as a guarantor from the Company's Corporate Credit Agreement.
On September 30, 2014, the Company entered into an Amendment to the Corporate Credit Agreement giving the Company the right to provide written notice to the administrative agent on or after the closing of the wireless sale of spectrum assets to remove any designated wireless subsidiary as a guarantor subsidiary.
The Parent Company’s subsidiaries generate substantially all of its income and cash flow and generally distribute or advance the funds necessary to meet the Parent Company’s debt service obligations. The following information sets forth the Condensed Consolidating Balance Sheets of the Company as of December 31, 2015 and 2014 and the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) and Cash Flows for the years ended December 31, 2015, 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)
 
Year Ended December 31, 2015
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Revenue
$
—

 
$
614.2

 
$
592.2

 
$
(38.6
)
 
$
1,167.8

Operating costs and expenses
22.4

 
577.9

 
478.1

 
(38.6
)
 
1,039.8

Operating income (loss)
(22.4
)
 
36.3

 
114.1

 
—

 
128.0

Interest expense (income), net
112.7

 
(10.0
)
 
0.4

 
—

 
103.1

Other expense (income), net
19.5

 
(434.3
)
 
(10.9
)
 
—

 
(425.7
)
Income (loss) before equity in earnings of subsidiaries and income taxes
(154.6
)
 
480.6

 
124.6

 
—

 
450.6

Income tax expense (benefit)
(53.3
)
 
168.7

 
44.4

 
—

 
159.8

Equity in earnings of subsidiaries, net of tax
455.0

 
—

 
—

 
(455.0
)
 
—

Income (loss) from continuing operations
353.7

 
311.9

 
80.2

 
(455.0
)
 
290.8

Income (loss) from discontinued operations
—

 
62.9

 
—

 
—

 
62.9

Net income (loss)
353.7

 
374.8

 
80.2

 
(455.0
)
 
353.7

Other comprehensive income (loss)
3.3

 
—

 
(0.4
)
 
—

 
2.9

Total comprehensive income (loss)
$
357.0

 
$
374.8

 
$
79.8

 
$
(455.0
)
 
$
356.6

 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
353.7

 
$
374.8

 
$
80.2

 
$
(455.0
)
 
$
353.7

Preferred stock dividends
10.4

 
—

 
—

 
—

 
10.4

Net income (loss) applicable to common shareowners
$
343.3

 
$
374.8

 
$
80.2

 
$
(455.0
)
 
$
343.3

 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2014
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Revenue
$
—

 
$
599.1

 
$
601.5

 
$
(39.1
)
 
$
1,161.5

Operating costs and expenses
21.5

 
567.5

 
434.7

 
(39.1
)
 
984.6

Operating income (loss)
(21.5
)
 
31.6

 
166.8

 
—

 
176.9

Interest expense (income), net
142.6

 
6.4

 
(3.1
)
 
—

 
145.9

Other expense (income), net
17.6

 
(173.4
)
 
(12.3
)
 
—

 
(168.1
)
Income (loss) before equity in earnings of subsidiaries and income taxes
(181.7
)
 
198.6

 
182.2

 
—

 
199.1

Income tax expense (benefit)
(55.8
)
 
70.8

 
66.4

 
—

 
81.4

Equity in earnings of subsidiaries, net of tax
201.5

 
—

 
—

 
(201.5
)
 
—

Income (loss) from continuing operations
75.6

 
127.8

 
115.8

 
(201.5
)
 
117.7

Income (loss) from discontinued operations
—

 
(42.1
)
 
—

 
—

 
(42.1
)
Net income (loss)
75.6

 
85.7

 
115.8

 
(201.5
)
 
75.6

Other comprehensive income (loss)
(40.5
)
 
(0.1
)
 
—

 
—

 
(40.6
)
Total comprehensive income (loss)
$
35.1

 
$
85.6

 
$
115.8

 
$
(201.5
)
 
$
35.0

 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
75.6

 
$
85.7

 
$
115.8

 
$
(201.5
)
 
$
75.6

Preferred stock dividends
10.4

 
—

 
—

 
—

 
10.4

Net income (loss) applicable to common shareowners
$
65.2

 
$
85.7

 
$
115.8

 
$
(201.5
)
 
$
65.2

Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
 
Year Ended December 31, 2013
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Revenue
$
—

 
$
503.1

 
$
608.6

 
$
(38.3
)
 
$
1,073.4

Operating costs and expenses
57.2

 
484.2

 
430.5

 
(38.3
)
 
933.6

Operating income (loss)
(57.2
)
 
18.9

 
178.1

 
—

 
139.8

Interest expense (income), net
162.5

 
10.7

 
2.8

 
—

 
176.0

Other expense (income), net
28.2

 
15.4

 
(6.6
)
 
—

 
37.0

Income (loss) before equity in earnings of subsidiaries and income taxes
(247.9
)
 
(7.2
)
 
181.9

 
—

 
(73.2
)
Income tax expense (benefit)
(79.8
)
 
5.3

 
66.2

 
—

 
(8.3
)
Equity in earnings of subsidiaries, net of tax
113.4

 
0.7

 
—

 
(114.1
)
 
—

Income (loss) from continuing operations
(54.7
)
 
(11.8
)
 
115.7

 
(114.1
)
 
(64.9
)
Income (loss) from discontinued operations
—

 
10.2

 
—

 
—

 
10.2

Net income (loss)
(54.7
)
 
(1.6
)
 
115.7

 
(114.1
)
 
(54.7
)
Other comprehensive income (loss)
76.5

 
—

 
(0.1
)
 
—

 
76.4

Total comprehensive income (loss)
$
21.8

 
$
(1.6
)
 
$
115.6

 
$
(114.1
)
 
$
21.7

 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(54.7
)
 
$
(1.6
)
 
$
115.7

 
$
(114.1
)
 
$
(54.7
)
Preferred stock dividends
10.4

 
—

 
—

 
—

 
10.4

Net income (loss) applicable to common shareowners
$
(65.1
)
 
$
(1.6
)
 
$
115.7

 
$
(114.1
)
 
$
(65.1
)
Condensed Consolidating Balance Sheets
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Cash and cash equivalents
$
4.6

 
$
0.4

 
$
2.4

 
$
—

 
$
7.4

Receivables, net
0.7

 
2.8

 
153.6

 
—

 
157.1

Other current assets
1.6

 
15.6

 
18.7

 
—

 
35.9

Total current assets
6.9


18.8


174.7


—

 
200.4

Property, plant and equipment, net
0.3

 
53.4

 
921.8

 
—

 
975.5

Investment in CyrusOne
—

 
55.5

 
—

 
—

 
55.5

Goodwill and intangibles, net
—

 
12.3

 
2.2

 
—

 
14.5

Investments in and advances to subsidiaries
844.6

 
830.4

 
4.3

 
(1,679.3
)
 
—

Other noncurrent assets
214.4

 
133.2

 
7.1

 
(146.2
)
 
208.5

Total assets
$
1,066.2


$
1,103.6


$
1,110.1


$
(1,825.5
)
 
$
1,454.4

Current portion of long-term debt
$
5.4

 
$
3.4

 
$
5.0

 
$
—

 
$
13.8

Accounts payable
0.7

 
95.6

 
32.6

 
—

 
128.9

Other current liabilities
41.6

 
26.8

 
42.7

 
—

 
111.1

Other current liabilities from discontinued operations
—

 
5.4

 
—

 
—

 
5.4

Total current liabilities
47.7


131.2


80.3


—

 
259.2

Long-term debt, less current portion
1,025.8

 
53.3

 
152.7

 
—

 
1,231.8

Other noncurrent liabilities
235.5

 
11.8

 
160.5

 
(146.2
)
 
261.6

Intercompany payables
54.7

 
—

 
127.3

 
(182.0
)
 
—

Total liabilities
1,363.7


196.3


520.8


(328.2
)
 
1,752.6

Shareowners’ (deficit) equity
(297.5
)
 
907.3

 
589.3

 
(1,497.3
)
 
(298.2
)
Total liabilities and shareowners’ equity (deficit)
$
1,066.2


$
1,103.6


$
1,110.1


$
(1,825.5
)
 
$
1,454.4


Condensed Consolidating Balance Sheets
 
As of December 31, 2014
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Cash and cash equivalents
$
56.2

 
$
0.2

 
$
1.5

 
$
—

 
$
57.9

Receivables, net
2.6

 
6.1

 
159.8

 
—

 
168.5

Other current assets
1.3

 
20.6

 
15.7

 
—

 
37.6

Other current assets from discontinued operations
—

 
4.7

 
—

 
—

 
4.7

Total current assets
60.1


31.6


177.0


—

 
268.7

Property, plant and equipment, net
0.2

 
50.8

 
764.4

 
—

 
815.4

Investment in CyrusOne
—

 
273.6

 
—

 
—

 
273.6

Goodwill and intangibles, net
—

 
12.7

 
2.2

 
—

 
14.9

Investments in and advances to subsidiaries
1,066.1

 
403.6

 
199.3

 
(1,669.0
)
 
—

Other noncurrent assets
297.6

 
240.9

 
8.2

 
(143.2
)
 
403.5

Other noncurrent assets from discontinued operations
—

 
44.6

 
—

 
—

 
44.6

Total assets
$
1,424.0


$
1,057.8


$
1,151.1


$
(1,812.2
)
 
$
1,820.7

Current portion of long-term debt
$
5.4

 
$
2.3

 
$
3.9

 
$
—

 
$
11.6

Accounts payable
1.0

 
76.2

 
54.8

 
—

 
132.0

Other current liabilities
52.3

 
23.5

 
49.3

 
0.1

 
125.2

Other current liabilities from discontinued operations
—

 
142.0

 
—

 
—

 
142.0

Total current liabilities
58.7


244.0


108.0


0.1

 
410.8

Long-term debt, less current portion
1,526.1

 
2.9

 
160.4

 
—

 
1,689.4

Other noncurrent liabilities
254.1

 
4.6

 
151.0

 
(143.4
)
 
266.3

Other noncurrent liabilities from discontinued operations
—

 
102.7

 
—

 
—

 
102.7

Intercompany payables
233.4

 
—

 
131.9

 
(365.3
)
 
—

Total liabilities
2,072.3


354.2


551.3


(508.6
)
 
2,469.2

Shareowners’ (deficit) equity
(648.3
)
 
703.6

 
599.8

 
(1,303.6
)
 
(648.5
)
Total liabilities and shareowners’ equity (deficit)
$
1,424.0

 
$
1,057.8

 
$
1,151.1

 
$
(1,812.2
)
 
$
1,820.7


Condensed Consolidating Statements of Cash Flows
 
Year Ended December 31, 2015
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Cash flows provided by (used in) operating activities
$
(19.3
)
 
$
(44.0
)
 
$
174.2

 
$
—

 
$
110.9

Capital expenditures
(0.1
)
 
(22.5
)
 
(261.0
)
 
—

 
(283.6
)
Proceeds received from sale of CyrusOne
—

 
643.9

 
—

 
—

 
643.9

Dividends received from CyrusOne
—

 
22.2

 
—

 
—

 
22.2

Proceeds from sale of assets
—

 
0.9

 
0.1

 
—

 
1.0

Distributions received from subsidiaries
11.3

 
—

 
—

 
(11.3
)
 
—

Funding between Parent and subsidiaries, net
—

 
(597.1
)
 
114.7

 
482.4

 
—

Other investing activities
(0.3
)
 
—

 
—

 
—

 
(0.3
)
Cash flows provided by (used in) investing activities
10.9

 
47.4

 
(146.2
)
 
471.1

 
383.2

Funding between Parent and subsidiaries, net
486.4

 
—

 
(4.0
)
 
(482.4
)
 
—

Distributions paid to Parent
—

 
—

 
(11.3
)
 
11.3

 
—

Net decrease in corporate credit and receivables facilities with initial maturities less than 90 days
—

 
—

 
(1.6
)
 
—

 
(1.6
)
Repayment of debt
(518.5
)
 
(3.2
)
 
(10.0
)
 
—

 
(531.7
)
Debt issuance costs
(0.2
)
 
—

 
(0.2
)
 
—

 
(0.4
)
Other financing activities
(10.9
)
 
—

 
—

 
—

 
(10.9
)
Cash flows provided by (used in) financing activities
(43.2
)
 
(3.2
)
 
(27.1
)
 
(471.1
)
 
(544.6
)
Increase (decrease) in cash and cash equivalents
(51.6
)
 
0.2

 
0.9

 
—

 
(50.5
)
Beginning cash and cash equivalents
56.2

 
0.2

 
1.5

 
—

 
57.9

Ending cash and cash equivalents
$
4.6

 
$
0.4

 
$
2.4

 
$
—

 
$
7.4

 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2014
(dollars in millions)
Parent
(Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Cash flows provided by (used in) operating activities
$
(56.3
)
 
$
1.0

 
$
230.5

 
$
—

 
$
175.2

Capital expenditures
(0.2
)
 
(29.6
)
 
(152.5
)
 
—

 
(182.3
)
Proceeds from sale of CyrusOne
—

 
355.9

 
—

 
—

 
355.9

Dividends received from CyrusOne
—

 
28.4

 
—

 
—

 
28.4

Proceeds from sale of assets
—

 
194.4

 
2.0

 
—

 
196.4

Distributions received from subsidiaries
12.8

 
—

 
—

 
(12.8
)
 
—

Funding between Parent and subsidiaries, net
—

 
(541.7
)
 
(75.6
)
 
617.3

 
—

Other investing activities
(0.3
)
 
(5.5
)
 
—

 
—

 
(5.8
)
Cash flows provided by (used in) investing activities
12.3

 
1.9

 
(226.1
)
 
604.5

 
392.6

Funding between Parent and subsidiaries, net
516.2

 
—

 
101.1

 
(617.3
)
 
—

Distributions paid to Parent
—

 
—

 
(12.8
)
 
12.8

 
—

Net increase in corporate credit and receivables facilities with initial maturities less than 90 days
(40.0
)
 
—

 
(87.0
)
 
—

 
(127.0
)
Repayment of debt
(367.3
)
 
(3.0
)
 
(6.2
)
 
—

 
(376.5
)
Debt issuance costs
(0.7
)
 
—

 
(0.2
)
 
—

 
(0.9
)
Proceeds from exercise of options and warrants
1.3

 
—

 
—

 
—

 
1.3

Other financing activities
(11.4
)
 
—

 
—

 
—

 
(11.4
)
Cash flows provided by (used in) financing activities
98.1

 
(3.0
)
 
(5.1
)
 
(604.5
)
 
(514.5
)
Increase (decrease) in cash and cash equivalents
54.1

 
(0.1
)
 
(0.7
)
 
—

 
53.3

Beginning cash and cash equivalents
2.1

 
0.3

 
2.2

 
—

 
4.6

Ending cash and cash equivalents
$
56.2

 
$
0.2

 
$
1.5

 
$
—

 
$
57.9

Condensed Consolidating Statements of Cash Flows
 
Year Ended December 31, 2013
(dollars in millions)
Parent (Issuer)
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Total
Cash flows provided by (used in) operating activities
$
(218.1
)
 
$
28.8

 
$
268.1

 
$
—

 
$
78.8

Capital expenditures
—

 
(36.1
)
 
(160.8
)
 
—

 
(196.9
)
Dividends received from CyrusOne
—

 
21.3

 
—

 
—

 
21.3

Proceeds from sale of assets
—

 
—

 
2.0

 
—

 
2.0

Cash divested from deconsolidation of CyrusOne
—

 
—

 
(12.2
)
 
—

 
(12.2
)
Other investing activities
—

 
—

 
0.4

 
—

 
0.4

Cash flows provided by (used in) investing activities
—

 
(14.8
)
 
(170.6
)
 
—

 
(185.4
)
Issuance of long-term debt
536.0

 
—

 
—

 
—

 
536.0

Funding between Parent and subsidiaries, net
174.2

 
(10.0
)
 
(164.2
)
 
—

 
—

Net increase in corporate credit and receivables facilities with initial maturities less than 90 days
40.0

 
—

 
54.2

 
—

 
94.2

Repayment of debt
(522.0
)
 
(4.0
)
 
(4.8
)
 
—

 
(530.8
)
Debt issuance costs
(6.7
)
 
—

 
—

 
—

 
(6.7
)
Proceeds from exercise of options and warrants
7.1

 
—

 
—

 
—

 
7.1

Other financing activities
(12.2
)
 
—

 
—

 
—

 
(12.2
)
Cash flows provided by (used in) financing activities
216.4

 
(14.0
)
 
(114.8
)
 
—

 
87.6

   Increase (decrease) in cash and cash equivalents
(1.7
)
 
—

 
(17.3
)
 
—

 
(19.0
)
   Beginning cash and cash equivalents
3.8

 
0.3

 
19.5

 
—

 
23.6

   Ending cash and cash equivalents
$
2.1

 
$
0.3

 
$
2.2

 
$
—

 
$
4.6