WINDSTREAM HOLDINGS, INC. (WIN) [Rocket]

In millions, except per share items	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Enterprise	2,678.5	265.0	3,032.9		2,708.9	2,003.0	1,937.0
Consumer & Small Business	2,074.7	2,140.5	2,258.5
Wholesale	480.4	525.7	399.0		794.0	729.7
Small Business - CLEC						658.3	765.5
Other		2,781.9	162.5		2,095.7	2,256.6	3,073.0
Total revenues [+]	5,115.4	5,713.1	5,852.9	0.0	5,598.6	5,647.6	5,775.5	5,908.3
Services					5,598.6	5,647.6	5,775.5	5,908.3
Revenue growth [+]	-10.5%	-2.4%		-100.0%	-0.9%	-2.2%	-2.2%	42.3%
Enterprise	910.8%	-91.3%			35.2%	3.4%
Consumer & Small Business	-3.1%	-5.2%
Wholesale	-8.6%	31.8%			8.8%
Small Business - CLEC						-14.0%
Cost of goods sold [+]	7,992.9	5,416.5	7,443.5	4,826.0	145.2	156.6	183.9	206.6
Cost of services							2,541.2	2,692.2
Gross profit	-2,877.5	296.6	-1,590.6	-4,826.0	5,453.4	5,491.0	5,591.6	5,701.7
Gross margin	-56.3%	5.2%	-27.2%		97.4%	97.2%	96.8%	96.5%
Selling, general and administrative					5,110.7	5,165.8	4,795.2	5,049.0
Other operating expenses	591.6	541.5	895.4	-4,339.3	291.9	373.4	471.9	390.7
EBITDA [+]	-2,400.9	1,281.8	-1,016.0	776.8	1,417.3	1,338.2	3,006.9	2,856.5
EBITDA growth	-287.3%	-226.2%	-230.8%	-45.2%	5.9%	-55.5%	5.3%	69.6%
EBITDA margin	-46.9%	22.4%	-17.4%		25.3%	23.7%	52.1%	48.3%
Depreciation	897.2	1,300.9	1,229.0	1,078.3	1,146.3	1,130.3	2,391.2	2,252.5
EBITA	-3,298.1	-19.1	-2,245.0	-301.5	271.0	207.9	615.7	604.0
EBITA margin	-64.5%	-0.3%	-38.4%		4.8%	3.7%	10.7%	10.2%
Amortization of intangibles	171.0	225.8	241.0	185.2	220.2	256.1	291.2	342.0
EBIT [+]	-3,469.1	-244.9	-2,486.0	-486.7	50.8	-48.2	324.5	262.0
EBIT growth	1316.5%	-90.1%	410.8%	-1058.1%	-205.4%	-114.9%	23.9%	-68.7%
EBIT margin	-67.8%	-4.3%	-42.5%		0.9%	-0.9%	5.6%	4.4%
Non-recurring items [+]								22.4
Restructuring charges								22.4
Interest expense, net [+]				-17.6			-1.0
Interest expense	331.9	901.3	875.4	6.1	813.2	571.8	627.7	625.1
Interest income				17.6			1.0
Other income (expense), net [+]	323.2	872.3	836.7	-48.3	805.8	555.4	642.5	650.8
Other	-8.7	-29.0	-38.7	-54.4	-7.4	-16.4	15.8	25.7
Pre-tax income	-3,477.8	-273.9	-2,524.7	-523.5	43.4	-64.6	340.3	265.3
Income taxes	-320.0	449.1	-408.1	-140.0	16.0	-25.1	105.3	98.2
Tax rate	9.2%		16.2%	26.7%	36.9%	38.9%	30.9%	37.0%
Earnings from continuing ops	-3,157.8	-723.0	-2,116.6	-383.5	27.4	-39.5	235.0	167.1
Earnings from discontinued ops							6.0	0.9
Net income	-3,157.8	-723.0	-2,116.6	-383.5	27.4	-39.5	241.0	168.0
Net margin	-61.7%	-12.7%	-36.2%		0.5%	-0.7%	4.2%	2.8%

Basic EPS [+]	($74.13)	($17.72)	($62.62)	($20.40)	$0.28	($0.40)	$2.39	$0.29
Growth	318.3%	-71.7%	207.0%	-7463.0%	-169.8%	-116.6%	737.1%	-13.3%
Diluted EPS [+]	($74.13)	($17.72)	($62.62)	($20.40)	$0.28	($0.40)	$2.39	$0.29
Growth	318.3%	-71.7%	207.0%	-7463.0%	-169.8%	-116.6%	739.7%	-13.5%

Dividends per share [+]			$1.91	$3.12	$3.73	$6.05	$6.04	$1.01
Growth		-100.0%	-38.9%	-16.5%	-38.3%	0.1%	500.9%	1.2%

Shares outstanding (basic) [+]	42.6	40.8	33.8	18.8	98.9	99.5	98.2	584.5
Growth	4.4%	20.7%	79.8%	-81.0%	-0.6%	1.3%	-83.2%	14.0%
Shares outstanding (diluted) [+]	42.6	40.8	33.8	18.8	98.9	99.5	98.2	586.3
Growth	4.4%	20.7%	79.8%	-81.0%	-0.6%	1.3%	-83.3%	14.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.