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Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Parent Company Financial Statements
Parent Company Financial Statements

The following condensed Parent Company financial statements should be read in conjunction with the consolidated financial statements of the Company and the Predecessor Company. As provided for in our Credit Facilities, each of the Company’s operating subsidiaries are permitted to fund a share of the Parent Company’s interest obligations on the Dex One Senior Subordinated Notes. Other funds, based on a percentage of each operating subsidiaries’ excess cash flow, as defined in each credit agreement, may be provided to the Parent Company to fund specific activities, such as acquisitions. In addition, each of our operating subsidiaries is permitted to send up to $5 million annually to the Parent Company. Lastly, our operating subsidiaries fund on a proportionate basis those expenses paid by the Parent Company to fund the daily operations of our operating subsidiaries. Except for certain limited situations, including those noted above, the Credit Facilities restrict the ability of the Company and its subsidiaries to dividend assets to any third party and of our subsidiaries to pay dividends, loans or advances to us. See Note 5, “Long-Term Debt” for a further description of our debt instruments.

Condensed Parent Company Balance Sheets
 
December 31,
 
2012
2011
Assets
 
 
Cash and cash equivalents
$
3,420

$
28,361

Prepaid expenses and other current assets
663

953

Total current assets
4,083

29,314

Investment in subsidiaries
296,799

282,926

Total assets
$
300,882

$
312,240

Liabilities and Shareholders’ Equity (Deficit)
 
 
Accounts payable, accrued liabilities and other
$
177

$
1,224

Accrued interest
7,859

10,672

Intercompany, net
14,409

2,403

Short-term deferred income taxes, net
123

32

Current portion of long-term debt
219,708

—

Total current liabilities
242,276

14,331

Long-term debt
—

300,000

Deferred income taxes, net
17,997

7,776

Total liabilities
260,273

322,107

Shareholders’ equity (deficit)
40,609

(9,867
)
Total Liabilities and Shareholders’ Equity (Deficit)
$
300,882

$
312,240




Condensed Parent Company Statements of Comprehensive Income (Loss)
 
Successor Company
Predecessor Company
 
Years Ended December 31,
Eleven Months Ended December 31, 2010
One Month Ended January 31, 2010
 
2012
2011
 
 
 
 
 
Expenses
$
13,171

$
17,229

$
18,019

$
891

Partnership and equity income (loss)
45,368

(589,046
)
(1,492,376
)
643,971

Operating income (loss)
32,197

(606,275
)
(1,510,395
)
643,080

Gain on debt repurchases, net
70,792

—

—

—

Interest expense, net
(33,664
)
(37,447
)
(33,312
)
—

Income (loss) before reorganization items, net and income taxes
69,325

(643,722
)
(1,543,707
)
643,080

Reorganization items, net
—

—

—

7,194,470

Income (loss) before income taxes
69,325

(643,722
)
(1,543,707
)
7,837,550

(Provision) benefit for income taxes
(6,924
)
124,758

620,115

(917,541
)
Net income (loss)
62,401

(518,964
)
(923,592
)
6,920,009

Other comprehensive income (loss)
—

—

—

—

Comprehensive income (loss)
$
62,401

$
(518,964
)
$
(923,592
)
$
6,920,009




Condensed Parent Company Statements of Cash Flows
 
Successor Company
Predecessor Company
 
Years Ended December 31,
Eleven Months Ended December 31, 2010
One Month Ended January 31, 2010
 
2012
2011
Cash flow provided by (used in) operating activities
$
1,579

$
40,454

$
4,778

$
(531
)
Cash flow from investing activities
 
 
 
 
Additions to fixed assets and computer software
—

—

—

(643
)
Contributions to subsidiaries
—

(12,227
)
—

—

Intercompany loan
—

(2,000
)
(4,900
)
—

Net cash used in investing activities
—

(14,227
)
(4,900
)
(643
)
Cash flow from financing activities
 
 
 
 
Long-term debt repurchases
(26,520
)
—

—

—

Debt issuance costs and other financing items, net
—

—

—

(370
)
Decrease in checks not yet presented for payment
—

—

(1,025
)
(182
)
Net cash used in financing activities
(26,520
)
—

(1,025
)
(552
)
 
 
 
 
 
Increase (decrease) in cash and cash equivalents
(24,941
)
26,227

(1,147
)
(1,726
)
Cash and cash equivalents, beginning of period
28,361

2,134

3,281

5,007

Cash and cash equivalents, end of period
$
3,420

$
28,361

$
2,134

$
3,281