Capital Structure/Solvency/Cash Flow/Governance/Other

Balance Sheet

At the end of 1Q11, cash and cash equivalents were $1,101.0 million versus $310.0 million in 1Q10. Receivables were $1,865.0 million versus $1,395.0 million in 1Q10. Property, Plant and Equipment was $29,635.0 million versus $19,357.0 million in 1Q10. Accounts payable was $1,080.0 million versus $772.0 million. Long-term debt and other long-term obligations was $17,535.0 million versus $11,847.0 million in 1Q10. Total equity was $12,689.0 million versus $8,535.0 million in 1Q10.

The company expects to reduce debt in the range of $1.5–$2.2 billion from 2011–2013.

Cash flow

Net cash provided by operating activities was $491.0 million versus $506.0 million in 1Q10. Cash flows used for financing activities was ($550.0) million versus ($594.0) million in 1Q10. Cash (used for)/ provided by investing activities was $141.0 million versus ($476.0) million in 1Q10.

Dividend

With the completion of the merger, the company’s shareholders of record as of February 7, 2011, received a pro rata dividend of $0.5255 per share on March 1, 2011. However, the shareholders of record as of February 25, 2011, received a pro rata dividend of $0.0245 per share on March 7, 2011.

On June 1, 2011, the company paid a dividend of $0.55 per share to shareholders of record as of May 6, 2011, as declared by the Board of Directors on February 15, 2011.