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Best & Worst Corporate Cash Managers

Communications Companies with the least and most cash as a proportion of their operating income.

COMPANY ¹	MARKET CAPITALIZATION OF COMMON EQUITY ($ MILLIONS)	CASH AND SHORT-TERM INVESTMENTS ($ MILLIONS)	INCOME FROM CONTINUING OPERATIONS ($ MILLIONS)	CASH AND SHORT- TERM INVESTMENTS TO INCOME FROM CONTINUING OPERATIONS (%)
Windstream Corp.	$6,189.78	$34.30	$385.00	0.09%
Crown Castle International Corp.	13,860.65	80.12	171.08	0.47
DirecTV	31,299.60	1,297.00	2,509.00	0.52
CBS Corp.	18,873.24	947.00	1,261.60	0.75
AT&T	172,802.16	3,185.00	3,944.00	0.81
CTC Media	1,655.01	132.16	152.98	0.86
Cablevision Systems Corp.	3,242.27	413.06	413.70	1.00
Discovery Communications	11,540.75	1,032.00	991.00	1.04
SBA Communications Corp.	5,010.82	184.59	159.73	1.16
Frontier Communications Corp.	4,289.00	205.82	153.36	1.34
Verizon Communications	105,344.88	13,954.00	10,198.00	1.37
Sirius XM Radio	7,650.98	604.59	366.81	1.65
CenturyLink	23,012.00	1,123.00	678.20	1.66
Dish Network Corp.	5,741.81	3,364.66	1,553.66	2.17
Time Warner Cable	23,540.86	5,177.00	1,665.00	3.11
U.S. Cellular Corp.	2,366.97	615.71	176.05	3.50
Telephone and Data Systems	2,539.38	849.36	217.72	3.90
Virgin Media	8,032.25	682.80	170.70	4.00
NeuStar	2,649.89	391.83	58.11	6.74
TW Telecom	3,033.50	469.09	59.01	7.95
Tivo	1,291.98	604.31	60.59	9.97
INDUSTRY MEDIAN	6,189.78	615.71	366.81	1.37
Source: Georgia Institute of Technology Financial Reporting & Analysis Lab.
1 Data are based on Securities and Exchange Commission filings by publicly traded companies with market capitalization of at least $1 billion and free cash flow of at least 60 percent of income from continuing operations at end of third-quarter 2011. Industries are defined by the Standard Industrial Classification codes established by the U.S. Commerce Department.