Form 8-K for ALSK 20-Feb-2014 Non-Reliance on Previous Financials, Audits or Interim Re
I think this means distributions need to be removed from ongoing income and added to the gain from the sale of ALSK's cell business. Also note the term "Sale" because that's what actually happened.
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
(2) The amounts presented as AWN Excess Distributions for the three and nine months ended September 30, 2013, should be eliminated and instead be considered in the total Gain on Sale/Contribution and as an increase to ACS' investment in AWN.
fwabeee is right. One time gains and losses are excluded from calculations of future value. ALSK management absolutely COOKED THE BOOKS to inflate future income by $75 million ($65 +n $10). Future income will now drop by $75,000,000.00. Just to see how blatant this was ALSK only made $17M last year and lost over $30M in 2010 and 2011.