Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016 and 2015, Condensed Consolidating Balance Sheets as of March 31, 2016 and December 31, 2015, and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2016 and 2015 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, 2016
(dollars in millions)	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations			Total
Revenue	$	—		$	167.7		$	131.6		$	(10.4	)	$	288.9
Operating costs and expenses	5.2			142.1			122.4			(10.4		)	259.3
Operating income (loss)	(5.2		)	25.6			9.2			—			29.6
Interest expense (income), net	24.1			0.8			(4.6		)	—			20.3
Other expense (income), net	(0.3		)	(0.2		)	(1.9		)	—			(2.4		)
Income (loss) before equity in earnings of subsidiaries and income taxes	(29.0		)	25.0			15.7			—			11.7
Income tax expense (benefit)	(10.0		)	8.9			5.8			—			4.7
Equity in earnings of subsidiaries, net of tax	26.0			—			—			(26.0		)	—
Net income (loss)	7.0			16.1			9.9			(26.0		)	7.0
Other comprehensive income (loss)	1.6			—			(0.1		)	—			1.5
Total comprehensive income (loss)	$	8.6		$	16.1		$	9.8		$	(26.0	)	$	8.5
Net income (loss)	7.0			16.1			9.9			(26.0		)	7.0
Preferred stock dividends	2.6			—			—			—			2.6
Net income (loss) applicable to common shareowners	$	4.4		$	16.1		$	9.9		$	(26.0	)	$	4.4
	Three Months Ended March 31, 2015
	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations			Total
Revenue	$	—		$	167.6		$	135.0		$	(9.7	)	$	292.9
Operating costs and expenses	5.3			128.9			131.3			(9.7		)	255.8
Operating income (loss)	(5.3		)	38.7			3.7			—			37.1
Interest expense (income), net	33.9			(0.8		)	(0.4		)	—			32.7
Other expense (income), net	(0.4		)	1.9			2.0			—			3.5
Income (loss) before equity in earnings of subsidiaries and income taxes	(38.8		)	37.6			2.1			—			0.9
Income tax expense (benefit)	(14.1		)	13.8			0.9			—			0.6
Equity in earnings of subsidiaries, net of tax	73.9			—			—			(73.9		)	—
Income (loss) from continuing operations	49.2			23.8			1.2			(73.9		)	0.3
Income (loss) from discontinued operations, net of tax	—			—			48.9			—			48.9
Net income (loss)	49.2			23.8			50.1			(73.9		)	49.2
Other comprehensive income (loss)	1.7			—			(0.3		)	—			1.4
Total comprehensive income (loss)	$	50.9		$	23.8		$	49.8		$	(73.9	)	$	50.6
Net income (loss)	49.2			23.8			50.1			(73.9		)	49.2
Preferred stock dividends	2.6			—			—			—			2.6
Net income (loss) applicable to common shareowners	$	46.6		$	23.8		$	50.1		$	(73.9	)	$	46.6

Condensed Consolidating Balance Sheets
	As of March 31, 2016
(dollars in millions)	Parent (Guarantor)			CBT (Issuer)		Other Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	5.9		$	1.1	$	0.9	$	—		$	7.9
Receivables, net	1.3			0.4		136.8		—			138.5
Other current assets	2.9			21.0		18.0		—			41.9
Total current assets	10.1			22.5		155.7		—			188.3
Property, plant and equipment, net	0.4			941.5		53.1		—			995.0
Investment in CyrusOne	—			—		52.8		—			52.8
Goodwill	—			2.2		12.1		—			14.3
Investments in and advances to subsidiaries	826.0			43.2		698.4		(1,567.6		)	—
Other noncurrent assets	215.9			2.6		130.4		(154.7		)	194.2
Total assets	$	1,052.4		$	1,012.0	$	1,102.5	$	(1,722.3	)	$	1,444.6
Current portion of long-term debt	$	5.4		$	6.1	$	3.3	$	—		$	14.8
Accounts payable	0.4			83.4		34.6		—			118.4
Other current liabilities	49.3			45.6		22.4		—			117.3
Other current liabilities from discontinued operations	—			—		2.0		—			2.0
Total current liabilities	55.1			135.1		62.3		—			252.5
Long-term debt, less current portion	1,017.7			109.5		98.8		—			1,226.0
Other noncurrent liabilities	232.5			177.5		2.4		(154.7		)	257.7
Intercompany payables	37.9			—		—		(37.9		)	—
Total liabilities	1,343.2			422.1		163.5		(192.6		)	1,736.2
Shareowners’ (deficit) equity	(290.8		)	589.9		939.0		(1,529.7		)	(291.6		)
Total liabilities and shareowners’ equity (deficit)	$	1,052.4		$	1,012.0	$	1,102.5	$	(1,722.3	)	$	1,444.6

	As of December 31, 2015
	Parent (Guarantor)			CBT (Issuer)		Other Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	4.6		$	1.0	$	1.8	$	—		$	7.4
Receivables, net	0.7			—		156.4		—			157.1
Other current assets	1.6			20.2		14.1		—			35.9
Total current assets	6.9			21.2		172.3		—			200.4
Property, plant and equipment, net	0.3			921.5		53.7		—			975.5
Investment in CyrusOne	—			—		55.5		—			55.5
Goodwill	—			2.2		12.1		—			14.3
Investments in and advances to subsidiaries	844.6			63.9		647.2		(1,555.7		)	—
Other noncurrent assets	207.2			3.0		136.8		(146.3		)	200.7
Total assets	$	1,059.0		$	1,011.8	$	1,077.6	$	(1,702.0	)	$	1,446.4
Current portion of long-term debt	$	5.4		$	5.0	$	3.4	$	—		$	13.8
Accounts payable	0.7			84.8		43.4		—			128.9
Other current liabilities	41.6			45.3		24.2		—			111.1
Other current liabilities from discontinued operations	—			—		5.4		—			5.4
Total current liabilities	47.7			135.1		76.4		—			259.2
Long-term debt, less current portion	1,018.6			134.3		70.9		—			1,223.8
Other noncurrent liabilities	235.5			168.3		4.0		(146.2		)	261.6
Intercompany payables	54.7			—		—		(54.7		)	—
Total liabilities	1,356.5			437.7		151.3		(200.9		)	1,744.6
Shareowners’ (deficit) equity	(297.5		)	574.1		926.3		(1,501.1		)	(298.2		)
Total liabilities and shareowners’ equity (deficit)	$	1,059.0		$	1,011.8	$	1,077.6	$	(1,702.0	)	$	1,446.4

Condensed Consolidating Statements of Cash Flows

	Three Months Ended March 31, 2016
(dollars in millions)	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations			Total
Cash flows provided by (used in) operating activities	$	(21.7	)	$	63.6		$	24.1		$	—		$	66.0
Capital expenditures	(0.1		)	(55.8		)	(6.5		)	—			(62.4		)
Dividends received from CyrusOne	—			—			2.1			—			2.1
Distributions received from subsidiaries	2.9			—			—			(2.9		)	—
Funding between Parent and subsidiaries, net	—			20.7			2.9			(23.6		)	—
Other investing activities	(0.1		)	—			—			—			(0.1		)
Cash flows provided by (used in) investing activities	2.7			(35.1		)	(1.5		)	(26.5		)	(60.4		)
Funding between Parent and subsidiaries, net	24.8			—			(48.4		)	23.6			—
Distributions paid to Parent	—			—			(2.9		)	2.9			—
Net increase (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days	—			—			28.9			—			28.9
Repayment of debt	(1.4		)	(28.4		)	(1.1		)	—			(30.9		)
Other financing activities	(3.1		)	—			—			—			(3.1		)
Cash flows provided by (used in) financing activities	20.3			(28.4		)	(23.5		)	26.5			(5.1		)
Increase (decrease) in cash and cash equivalents	1.3			0.1			(0.9		)	—			0.5
Beginning cash and cash equivalents	4.6			1.0			1.8			—			7.4
Ending cash and cash equivalents	$	5.9		$	1.1		$	0.9		$	—		$	7.9
	Three Months Ended March 31, 2015
	Parent (Guarantor)			CBT (Issuer)			Other Non-guarantors			Eliminations			Total
Cash flows provided by (used in) operating activities	$	(23.5	)	$	35.7		$	(5.9	)	$	—		$	6.3
Capital expenditures	—			(51.8		)	(6.1		)	—			(57.9		)
Dividends received from CyrusOne	—			—			6.0			—			6.0
Distributions received from subsidiaries	2.7			—			—			(2.7		)	—
Funding between Parent and subsidiaries, net	—			17.3			10.9			(28.2		)	—
Other investing activities	(0.1		)	—			—			—			(0.1		)
Cash flows provided by (used in) investing activities	2.6			(34.5		)	10.8			(30.9		)	(52.0		)
Funding between Parent and subsidiaries, net	(20.4		)	—			(7.8		)	28.2			—
Distributions paid to Parent	—			—			(2.7		)	2.7			—
Net increase (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days	—			—			7.5			—			7.5
Repayment of debt	(1.3		)	(1.0		)	(1.0		)	—			(3.3		)
Other financing activities	(3.0		)	—			—			—			(3.0		)
Cash flows provided by (used in) financing activities	(24.7		)	(1.0		)	(4.0		)	30.9			1.2
Increase (decrease) in cash and cash equivalents	(45.6		)	0.2			0.9			—			(44.5		)
Beginning cash and cash equivalents	56.2			1.0			0.7			—			57.9
Ending cash and cash equivalents	$	10.6		$	1.2		$	1.6		$	—		$	13.4

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, 2016 and 2015, Condensed Consolidating Balance Sheets as of March 31, 2016 and December 31, 2015, and Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2016 and 2015 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, 2016
(dollars in millions)	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations			Total
Revenue	$	—		$	153.7		$	145.6		$	(10.4	)	$	288.9
Operating costs and expenses	5.2			136.9			127.6			(10.4		)	259.3
Operating income (loss)	(5.2		)	16.8			18.0			—			29.6
Interest expense (income), net	24.1			(5.0		)	1.2			—			20.3
Other expense (income), net	(0.3		)	2.9			(5.0		)	—			(2.4		)
Income (loss) before equity in earnings of subsidiaries and income taxes	(29.0		)	18.9			21.8			—			11.7
Income tax expense (benefit)	(10.0		)	7.0			7.7			—			4.7
Equity in earnings of subsidiaries, net of tax	26.0			—			—			(26.0		)	—
Net income (loss)	7.0			11.9			14.1			(26.0		)	7.0
Other comprehensive income (loss)	1.6			—			(0.1		)	—			1.5
Total comprehensive income (loss)	$	8.6		$	11.9		$	14.0		$	(26.0	)	$	8.5
Net income (loss)	7.0			11.9			14.1			(26.0		)	7.0
Preferred stock dividends	2.6			—			—			—			2.6
Net income (loss) applicable to common shareowners	$	4.4		$	11.9		$	14.1		$	(26.0	)	$	4.4
	Three Months Ended March 31, 2015
	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations			Total
Revenue	$	—		$	152.9		$	149.7		$	(9.7	)	$	292.9
Operating costs and expenses	5.3			147.3			112.9			(9.7		)	255.8
Operating income (loss)	(5.3		)	5.6			36.8			—			37.1
Interest expense (income), net	33.9			(0.7		)	(0.5		)	—			32.7
Other expense (income), net	(0.4		)	6.1			(2.2		)	—			3.5
Income (loss) before equity in earnings of subsidiaries and income taxes	(38.8		)	0.2			39.5			—			0.9
Income tax expense (benefit)	(14.1		)	—			14.7			—			0.6
Equity in earnings of subsidiaries, net of tax	73.9			—			—			(73.9		)	—
Income (loss) from continuing operations	49.2			0.2			24.8			(73.9		)	0.3
Income (loss) from discontinued operations, net of tax	—			48.9			—			—			48.9
Net income (loss)	49.2			49.1			24.8			(73.9		)	49.2
Other comprehensive income (loss)	1.7			—			(0.3		)	—			1.4
Total comprehensive income (loss)	$	50.9		$	49.1		$	24.5		$	(73.9	)	$	50.6
Net income (loss)	49.2			49.1			24.8			(73.9		)	49.2
Preferred stock dividends	2.6			—			—			—			2.6
Net income (loss) applicable to common shareowners	$	46.6		$	49.1		$	24.8		$	(73.9	)	$	46.6

Condensed Consolidating Balance Sheets
	As of March 31, 2016
(dollars in millions)	Parent (Issuer)			Guarantors		Non-guarantors		Eliminations			Total
Cash and cash equivalents	$	5.9		$	0.2	$	1.8	$	—		$	7.9
Receivables, net	1.3			3.1		134.1		—			138.5
Other current assets	2.9			19.0		20.0		—			41.9
Total current assets	10.1			22.3		155.9		—			188.3
Property, plant and equipment, net	0.4			52.8		941.8		—			995.0
Investment in CyrusOne	—			52.8		—		—			52.8
Goodwill	—			12.1		2.2		—			14.3
Investments in and advances to subsidiaries	826.0			822.4		—		(1,648.4		)	—
Other noncurrent assets	215.9			126.9		6.1		(154.7		)	194.2
Total assets	$	1,052.4		$	1,089.3	$	1,106.0	$	(1,803.1	)	$	1,444.6
Current portion of long-term debt	$	5.4		$	3.3	$	6.1	$	—		$	14.8
Accounts payable	0.4			71.4		46.6		—			118.4
Other current liabilities	49.3			25.1		42.9		—			117.3
Other current liabilities from discontinued operations	—			2.0		—		—			2.0
Total current liabilities	55.1			101.8		95.6		—			252.5
Long-term debt, less current portion	1,017.7			52.3		156.0		—			1,226.0
Other noncurrent liabilities	232.5			10.3		169.6		(154.7		)	257.7
Intercompany payables	37.9			—		79.5		(117.4		)	—
Total liabilities	1,343.2			164.4		500.7		(272.1		)	1,736.2
Shareowners’ (deficit) equity	(290.8		)	924.9		605.3		(1,531.0		)	(291.6		)
Total liabilities and shareowners’ equity (deficit)	$	1,052.4		$	1,089.3	$	1,106.0	$	(1,803.1	)	$	1,444.6

	As of December 31, 2015
	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	—			12.1		2.2		—			14.3
Investments in and advances to subsidiaries	844.6			830.4		4.3		(1,679.3		)	—
Other noncurrent assets	207.2			133.4		6.3		(146.2		)	200.7
Total assets	$	1,059.0		$	1,103.6	$	1,109.3	$	(1,825.5	)	$	1,446.4
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	1,018.6			53.3		151.9		—			1,223.8
Other noncurrent liabilities	235.5			11.8		160.5		(146.2		)	261.6
Intercompany payables	54.7			—		127.3		(182.0		)	—
Total liabilities	1,356.5			196.3		520.0		(328.2		)	1,744.6
Shareowners’ (deficit) equity	(297.5		)	907.3		589.3		(1,497.3		)	(298.2		)
Total liabilities and shareowners’ equity (deficit)	$	1,059.0		$	1,103.6	$	1,109.3	$	(1,825.5	)	$	1,446.4

Condensed Consolidating Statements of Cash Flows
	Three Months Ended March 31, 2016
(dollars in millions)	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations			Total
Cash flows provided by (used in) operating activities	$	(21.7	)	$	(8.2	)	$	95.9		$	—		$	66.0
Capital expenditures	(0.1		)	(6.5		)	(55.8		)	—			(62.4		)
Dividends received from CyrusOne	—			2.1			—			—			2.1
Distributions received from subsidiaries	2.9			—			—			(2.9		)	—
Funding between Parent and subsidiaries, net	—			13.5			—			(13.5		)	—
Other investing activities	(0.1		)	—			—			—			(0.1		)
Cash flows provided by (used in) investing activities	2.7			9.1			(55.8		)	(16.4		)	(60.4		)
Funding between Parent and subsidiaries, net	24.8			—			(38.3		)	13.5			—
Distributions paid to Parent	—			—			(2.9		)	2.9			—
Net increase (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days	—			—			28.9			—			28.9
Repayment of debt	(1.4		)	(1.1		)	(28.4		)	—			(30.9		)
Other financing activities	(3.1		)	—			—			—			(3.1		)
Cash flows provided by (used in) financing activities	20.3			(1.1		)	(40.7		)	16.4			(5.1		)
Increase (decrease) in cash and cash equivalents	1.3			(0.2		)	(0.6		)	—			0.5
Beginning cash and cash equivalents	4.6			0.4			2.4			—			7.4
Ending cash and cash equivalents	$	5.9		$	0.2		$	1.8		$	—		$	7.9
	Three Months Ended March 31, 2015
	Parent (Issuer)			Guarantors			Non-guarantors			Eliminations			Total
Cash flows provided by (used in) operating activities	$	(23.5	)	$	(19.2	)	$	49.0		$	—		$	6.3
Capital expenditures	—			(6.1		)	(51.8		)	—			(57.9		)
Dividends received from CyrusOne	—			6.0			—			—			6.0
Distributions received from subsidiaries	2.7			—			—			(2.7		)	—
Funding between Parent and subsidiaries, net	—			20.4			7.2			(27.6		)	—
Other investing activities	(0.1		)	—			—			—			(0.1		)
Cash flows provided by (used in) investing activities	2.6			20.3			(44.6		)	(30.3		)	(52.0		)
Funding between Parent and subsidiaries, net	(20.4		)	—			(7.2		)	27.6			—
Distributions paid to Parent	—			—			(2.7		)	2.7			—
Net increase (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days	—			—			7.5			—			7.5
Repayment of debt	(1.3		)	(1.0		)	(1.0		)	—			(3.3		)
Other financing activities	(3.0		)	—			—			—			(3.0		)
Cash flows provided by (used in) financing activities	(24.7		)	(1.0		)	(3.4		)	30.3			1.2
Increase (decrease) in cash and cash equivalents	(45.6		)	0.1			1.0			—			(44.5		)
Beginning cash and cash equivalents	56.2			0.2			1.5			—			57.9
Ending cash and cash equivalents	$	10.6		$	0.3		$	2.5		$	—		$	13.4