DEX ONE Corp

CIK:0000030419|SEC Filings

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2013

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of tax, for the three months ended March 31, 2013:



	Defined Benefit Pension Plans
AOCI balance at January 1, 2013	$	(43,879	)
Amounts reclassified from AOCI	382
Net current period other comprehensive income	382
AOCI balance at March 31, 2013	$	(43,497	)

The following table presents the reclassifications out of AOCI for the three months ended March 31, 2013:



Details about AOCI Components	Amount Reclassified from AOCI			Affected Line Item in the Condensed Consolidated Statement of Comprehensive Income (Loss)
Defined benefit pension plans:
Amortization of actuarial loss	$	620		⁽¹⁾
	(238		)	Tax provision
Total reclassifications	$	382		Net of tax

⁽¹⁾ Amortization of actuarial loss on our defined benefit pension plans is included in the computation of net periodic pension(credit) for the three months ended March 31, 2013. See Note 7, "Benefit Plans" for additional information.

Debtor and Debtor-In-Possession as of March 18, 2013 Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash Flows from Operating Activities
Net income (loss)	$ (59,327)	$ 57,572
Reconciliation of net income (loss) to net cash provided by operating activities:
Gain on debt repurchases, net	0	(68,763)
Depreciation and amortization	89,487	103,751
Deferred income tax benefit	(1,746)	(2,787)
Provision for bad debts	6,514	11,037
Merger transaction and integration expenses	10,243	0
Stock-based compensation expense	670	1,064
Reorganization items, net	35,903	0
Other items, net	(9,997)	6,202
Changes in assets and liabilities:
Decrease in accounts receivable	42,124	45,570
Decrease in other assets	6,241	17,833
(Decrease) in accounts payable and accrued liabilities	(11,731)	(27,936)
(Decrease) in deferred revenue	(52,318)	(55,780)
(Decrease) in other non-current liabilities	(1,315)	(9,654)
Net cash provided by operating activities	54,748	78,109
Cash Flows from Investing Activities
Additions to fixed assets and computer software	(5,643)	(5,005)
Proceeds from sale of assets	0	20
Net cash used in investing activities	(5,643)	(4,985)
Cash Flows from Financing Activities
Debt repurchases and repayments	(81,599)	(213,743)
Debt issuance costs and other financing items, net	(515)	(1,979)
Decrease in checks not yet presented for payment	(312)	(140)
Net cash used in financing activities	(82,426)	(215,862)
Decrease in cash and cash equivalents	(33,321)	(142,738)
Cash and cash equivalents, beginning of period	172,040	257,939
Cash and cash equivalents, end of period	138,719	115,201
Supplemental Information:
Cash interest, net	36,792	42,198
Cash income taxes, net	(95)	3,018
Non-cash Financing Activities:
Reduction of debt from debt repurchases	0	(72,613)
Issuance of Dex One Senior Subordinated Notes in lieu of cash interest payments	$ 0	$ 10,500

Debtor and Debtor-In-Possession as of March 18, 2013 Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Current Assets
Cash and cash equivalents	$ 138,719	$ 172,040
Accounts receivable:
Billed	106,408	118,479
Unbilled	402,717	442,085
Allowance for doubtful accounts	(28,970)	(31,770)
Net accounts receivable	480,155	528,794
Deferred directory costs	91,006	100,312
Short-term deferred income taxes, net	34,773	39,447
Prepaid expenses and other current assets	40,507	37,356
Total current assets	785,160	877,949
Fixed assets and computer software, net	96,625	105,079
Other non‑current assets	19,769	19,737
Intangible assets, net	1,757,263	1,832,653
Total Assets	2,658,817	2,835,418
Current Liabilities Not Subject to Compromise
Accounts payable and accrued liabilities	81,535	95,471
Accrued interest	19,928	18,885
Deferred revenues	477,535	529,854
Current portion of long-term debt	219,708	2,009,638
Total current liabilities not subject to compromise	798,706	2,653,848
Deferred income taxes, net	48,039	54,223
Other non-current liabilities	84,776	86,738
Total liabilities not subject to compromise	931,521	2,794,809
Liabilities subject to compromise	1,745,008	0
Commitments and contingencies
Shareholders' Equity (Deficit)
Common stock, par value $.001 per share, authorized – 300,000,000 shares; issued and outstanding – 50,942,545 shares at March 31, 2013 and 50,884,940 shares at December 31, 2012	50	50
Additional paid-in capital	1,465,217	1,464,593
Accumulated deficit	(1,439,482)	(1,380,155)
Accumulated other comprehensive loss	(43,497)	(43,879)
Total shareholders' equity (deficit)	(17,712)	40,609
Total Liabilities and Shareholders' Equity (Deficit)	$ 2,658,817	$ 2,835,418