XML 26 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income (loss) $ 353.7 $ 75.6 $ (54.7)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 170.2 231.0 169.6
Loss on extinguishment of debt 20.9 19.6 29.6
Loss from CyrusOne investment 5.1 7.0 10.7
Gain on sale of CyrusOne investment (449.2) (192.8) 0.0
Loss (gain) on sale of assets 0.4 (0.3) 2.4
Impairment of assets 0.0 12.1 0.0
Provision for loss on receivables 8.5 10.4 11.3
Noncash portion of interest expense 4.6 6.2 7.5
Deferred income tax expense (benefit), including valuation allowance change 184.5 47.4 (2.7)
Pension and other postretirement payments in excess of expense (11.5) (25.7) (49.7)
Deferred gain on sale of wireless spectrum licenses - discontinued operations (112.6) 0.0 0.0
Amortization of deferred gain - discontinued operations (6.5) (22.9) (3.3)
Stock-based compensation 4.1 3.3 4.9
Excess tax benefit for share based payments (0.1) (0.1) (0.5)
Gain on transfer of lease obligations - discontinued operations (15.9) 0.0 0.0
Other, net (2.3) 3.9 (3.4)
Changes in operating assets and liabilities, net of effects of divestitures:      
(Increase) decrease in receivables (1.9) (23.7) 0.5
Decrease (increase) in inventory, materials, supplies, prepaid expenses and other current assets 3.6 (7.2) (0.8)
(Decrease) increase in accounts payable (17.0) 38.7 (17.7)
Decrease in accrued and other current liabilities (30.6) (0.8) (18.1)
Decrease in other noncurrent assets 1.5 0.7 0.8
Increase (decrease) in other noncurrent liabilities 1.4 (7.2) (7.6)
Net cash provided by operating activities 110.9 175.2 78.8
Cash flows from investing activities      
Capital expenditures (283.6) (182.3) (196.9)
Proceeds from sale of CyrusOne investment 643.9 355.9 0.0
Dividends received from CyrusOne 22.2 28.4 21.3
Proceeds from sale of wireless spectrum licenses 0.0 194.4 0.0
Proceeds from sale of assets 1.0 2.0 2.0
Release of restricted cash 0.0 0.0 0.4
Cash divested from deconsolidation of CyrusOne 0.0 0.0 (12.2)
Other, net (0.3) (5.8) 0.0
Net cash provided by (used in) investing activities 383.2 392.6 (185.4)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 0.0 0.0 536.0
Net (decrease) increase in corporate credit and receivables facilities with initial maturities less than 90 days (1.6) (127.0) 94.2
Repayment of debt (531.7) (376.5) (530.8)
Debt issuance costs (0.4) (0.9) (6.7)
Dividends paid on preferred stock (10.4) (10.4) (10.4)
Proceeds from exercise of options and warrants 0.0 1.3 7.1
Excess tax benefit for share based payments 0.1 0.1 0.5
Other, net (0.6) (1.1) (2.3)
Net cash (used in) provided by financing activities (544.6) (514.5) 87.6
Net (decrease) increase in cash and cash equivalents (50.5) 53.3 (19.0)
Cash and cash equivalents at beginning of year 57.9 4.6 23.6
Cash and cash equivalents at end of year $ 7.4 $ 57.9 $ 4.6