Windstream Communication (WIN) spinoff of Communication Sales and Leasing (CSAL)

Windstream Communication (WIN) spun off Communication Sales and Leasing (CSAL). Windstream is considered the parent company. WIN then completed a 1 for 6 reverse stock split.

Cost basis allocation information was found in the Investor Relations section of the Windstream web site.

This action is a simple spinoff transaction in the accounting software followed by a stock split for WIN. The information below is based on the information available from the cost basis allocation information on the Windstream web site.

The Spinoff Entry

Go to Transactions > Spinoff or Accounting > Securities > Record spinoff of securities depending on the version of the software being used. If you are unfamiliar with spinoff transactions you can get help at this URL:

Here is the information you need to complete the spinoff.

  • Date: 4/24/2015
  • Select Parent Security (or Parent Company) : Windstream (WIN)
  • Remaining Basis Percentage: 24.32
  • Cash received: See your broker statement for cash-in-lieu received
  • Spinoff Security (or Symbol of New Company) : Comm. Sales and Leasing (CSAL)
  • Shares received : .2 x (#of WIN shares owned) (Remember to include fractional shares.) For example, if you owned 100 WIN shares, you should receive .2 x 100 = 20 CSAL shares. Be sure to use the # of WIN shares owned before the reverse split.
  • Price Per Share : 27.51 (CSAL closing price on 4/27/15)

Save the transaction and the spinoff has been entered.

The Stock Split Entry

Here is the information you need to complete the spinoff.

  • Date : 4/25/2015
  • Company : Windstream (WIN)
  • Split Ratio : 1 for 6
  • Cash Received : Cash-in-lieu from your broker statement.