Cincinnati Bell Inc (CBB) financial statements (2023 and earlier)
Company profile
Business Address |
221 E FOURTH ST CINCINNATI, OH 45202 |
State of Incorp. | OH |
Fiscal Year End | December 31 |
SIC | 4813 - Telephone Communications, Except Radiotelephone (benchmarking) |
More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
---|---|---|---|---|---|---|---|---|
ASSETS | ||||||||
Current Assets | ||||||||
Cash, cash equivalents, and short-term investments | 12 | 15 | 18 | 10 | 7 | |||
Cash and cash equivalents | 12 | 15 | 18 | 10 | 7 | |||
Restricted cash and investments | 379 | |||||||
Receivables | 370 | 343 | 240 | 179 | 157 | |||
Inventory, net of allowances, customer advances and progress billings | 36 | 47 | 44 | 23 | 21 | |||
Inventory | 36 | 47 | 44 | 23 | 21 | |||
Prepaid expense | 34 | 31 | 22 | 15 | 13 | |||
Other current assets | 8 | 11 | 8 | 4 | 2 | |||
Total current assets: | 459 | 446 | 710 | 230 | 200 | |||
Noncurrent Assets | ||||||||
Operating lease, right-of-use asset | 37 | ✕ | ✕ | ✕ | ✕ | |||
Property, plant and equipment | 1,729 | 1,844 | 1,129 | 1,086 | 976 | |||
Long-term investments and receivables | 4 | 3 | 56 | |||||
Long-term investments | 4 | 3 | 56 | |||||
Intangible assets, net (including goodwill) | 310 | 325 | 283 | 14 | 15 | |||
Goodwill | 162 | 157 | 151 | 14 | 14 | |||
Intangible assets, net (excluding goodwill) | 148 | 168 | 132 | 0 | ||||
Deferred costs | 11 | |||||||
Deferred income tax assets | 83 | ✕ | ✕ | ✕ | ✕ | |||
Other noncurrent assets | 51 | 68 | 20 | 19 | 26 | |||
Other undisclosed noncurrent assets | 48 | 16 | 189 | 172 | ||||
Total noncurrent assets: | 2,210 | 2,284 | 1,452 | 1,311 | 1,254 | |||
TOTAL ASSETS: | 2,669 | 2,730 | 2,162 | 1,541 | 1,454 | |||
LIABILITIES AND EQUITY | ||||||||
Liabilities | ||||||||
Current Liabilities | ||||||||
Accounts payable and accrued liabilities | 405 | 426 | 265 | 157 | 184 | |||
Accounts payable | 299 | 332 | 186 | 106 | 127 | |||
Employee-related liabilities | 51 | 43 | 29 | 26 | 31 | |||
Taxes payable | 28 | 25 | 21 | 13 | 15 | |||
Interest and dividends payable | 27 | 27 | 30 | 13 | 11 | |||
Deferred revenue | 69 | ✕ | ✕ | ✕ | ✕ | |||
Debt | 22 | 20 | 18 | 8 | 14 | |||
Restructuring reserve | 10 | |||||||
Due to related parties | 2 | |||||||
Disposal group, including discontinued operation | 5 | |||||||
Deferred revenue and credits | ✕ | ✕ | ✕ | 36 | 36 | 29 | ||
Contract with customer, liability | ✕ | ✕ | 1 | ✕ | ✕ | ✕ | ||
Other liabilities | 51 | 39 | 37 | 32 | 25 | |||
Other undisclosed current liabilities | 45 | |||||||
Total current liabilities: | 546 | 542 | 357 | 233 | 259 | |||
Noncurrent Liabilities | ||||||||
Long-term debt and lease obligation, including: | 1,950 | 1,910 | 1,729 | 1,199 | 1,232 | |||
Finance lease, liability | 52 | ✕ | ✕ | ✕ | ✕ | |||
Capital lease obligations | ✕ | ✕ | 61 | |||||
Operating lease, liability | 34 | ✕ | ✕ | ✕ | ✕ | |||
Other undisclosed long-term debt and lease obligation | 1,864 | 1,849 | 1,729 | 1,199 | 1,232 | |||
Liabilities, other than long-term debt | 293 | 343 | 219 | 231 | 262 | |||
Contract with customer, liability | ✕ | ✕ | 28 | ✕ | ✕ | ✕ | ||
Deferred tax liabilities, net | ✕ | ✕ | 11 | 11 | ||||
Deferred income tax liabilities | 11 | ✕ | ✕ | ✕ | ✕ | |||
Liability, pension and other postretirement and postemployment benefits | 200 | 231 | 178 | 198 | 225 | |||
Restructuring reserve | 1 | |||||||
Other liabilities | 82 | 73 | 30 | 33 | 37 | |||
Other undisclosed noncurrent liabilities | 70 | 11 | ||||||
Total noncurrent liabilities: | 2,314 | 2,264 | 1,948 | 1,430 | 1,493 | |||
Total liabilities: | 2,860 | 2,805 | 2,306 | 1,663 | 1,753 | |||
Stockholders' equity | ||||||||
Stockholders' equity attributable to parent | (191) | (75) | (143) | (122) | (298) | |||
Preferred stock | 129 | 129 | 129 | 129 | 129 | |||
Common stock | 1 | 1 | 0 | 0 | 2 | |||
Treasury stock, value | (1) | |||||||
Additional paid in capital | 2,670 | 2,680 | 2,566 | 2,571 | 2,576 | |||
Accumulated other comprehensive loss | (160) | (176) | (174) | (90) | (171) | |||
Accumulated deficit | (2,832) | (2,709) | (2,665) | (2,732) | (2,834) | |||
Total stockholders' equity: | (191) | (75) | (143) | (122) | (298) | |||
TOTAL LIABILITIES AND EQUITY: | 2,669 | 2,730 | 2,162 | 1,541 | 1,454 |
Income statement (P&L) ($ in millions)
12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
---|---|---|---|---|---|---|---|
Revenues | 1,560 | 1,378 | 1,289 | 1,192 | 1,168 | ||
Revenue, net | ✕ | ✕ | ✕ | 1,289 | 1,186 | 1,168 | |
Cost of revenue | (1,059) | (930) | (982) | (864) | (918) | ||
Cost of goods and services sold | (802) | (699) | (761) | (679) | (671) | ||
Gross profit: | 501 | 449 | 307 | 328 | 250 | ||
Operating expenses | (435) | (365) | (269) | (228) | (122) | ||
Other operating expense, net (Other Expenses) | (4) | (1) | |||||
Other undisclosed operating income (loss) | 4 | (5) | |||||
Operating income: | 66 | 83 | 38 | 93 | 128 | ||
Nonoperating income (expense) | 1 | 2 | (1) | 8 | 452 | ||
Investment income, nonoperating | 449 | ||||||
Other nonoperating income (expense) | 1 | 2 | (1) | 8 | 3 | ||
Interest and debt expense | (134) | (133) | (88) | (95) | (124) | ||
Income (loss) from continuing operations before equity method investments, income taxes: | (67) | (48) | (52) | 6 | 456 | ||
Loss from equity method investments | (5) | ||||||
Other undisclosed income (loss) from continuing operations before income taxes | (14) | (13) | 118 | 157 | |||
Income (loss) from continuing operations before income taxes: | (81) | (60) | 66 | 163 | 451 | ||
Income tax expense (benefit) | 26 | (9) | (31) | (61) | (160) | ||
Net income (loss): | (56) | (70) | 35 | 102 | 291 | ||
Other undisclosed net income attributable to parent | 0 | 63 | |||||
Net income (loss) attributable to parent: | (56) | (70) | 35 | 102 | 354 | ||
Preferred stock dividends and other adjustments | (10) | (10) | (10) | (10) | (10) | ||
Net income (loss) available to common stockholders, diluted: | (66) | (80) | 25 | 92 | 343 |
Comprehensive Income ($ in millions)
12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
---|---|---|---|---|---|---|---|
Net income (loss): | (56) | (70) | 35 | 102 | 291 | ||
Other comprehensive income (loss) | (2) | (1) | 28 | (44) | (2) | ||
Comprehensive income (loss): | (58) | (71) | 63 | 58 | 289 | ||
Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 13 | (1) | (80) | 125 | 68 | ||
Comprehensive income (loss), net of tax, attributable to parent: | (45) | (72) | (16) | 183 | 357 |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.