XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 84.6 $ 240.8
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 88.2 95.2
Loss on extinguishment of debt 2.8 13.5
Provision for loss on receivables 4.3 4.3
Gain on sale of CyrusOne investment (118.6) (295.2)
Noncash portion of interest expense 1.7 2.5
Deferred income tax provision 48.6 129.4
Pension and other postretirement payments in excess of expense (2.8) (8.4)
Stock-based compensation 3.5 2.1
Deferred gain on sale of wireless spectrum licenses - discontinued operations 0.0 (112.6)
Amortization of deferred gain - discontinued operations 0.0 (6.5)
Gain on transfer of lease obligations - discontinued operations 0.0 (15.9)
Other, net (3.6) 5.3
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (5.5) 4.9
(Increase) decrease in inventory, materials, supplies, prepaid expenses and other current assets (5.0) 0.4
Increase (decrease) in accounts payable 14.0 (17.0)
Decrease in accrued and other current liabilities (17.0) (13.0)
(Increase) decrease in other noncurrent assets (0.6) 0.8
Increase in other noncurrent liabilities 3.5 2.1
Net cash provided by operating activities 98.1 32.7
Cash flows from investing activities    
Capital expenditures (121.6) (132.5)
Dividends received from CyrusOne 4.9 15.0
Proceeds from sale of CyrusOne investment 142.5 426.0
Other, net (0.7) (0.1)
Net cash provided by investing activities 25.1 308.4
Cash flows from financing activities    
Net increase (decrease) in corporate credit and receivables facilities with initial maturities less than 90 days 15.4 (16.6)
Repayment of debt (124.6) (361.4)
Debt issuance costs (1.9) (0.4)
Dividends paid on preferred stock (5.2) (5.2)
Common stock repurchase (4.6) 0.0
Other, net (0.1) (0.6)
Net cash used in financing activities (121.0) (384.2)
Net increase (decrease) in cash and cash equivalents 2.2 (43.1)
Cash and cash equivalents at beginning of period 7.4 57.9
Cash and cash equivalents at end of period 9.6 14.8
Noncash investing and financing transactions:    
Accrual of CyrusOne dividends 1.5 4.5
Acquisition of property by assuming debt and other noncurrent liabilities 10.1 2.9
Acquisition of property on account $ 34.2 $ 33.0