Sprint - Nextel 2005 Annual Report Download - page 105
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SPRINT NEXTEL CORPORATION
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
For the Years Ended December 31, 2005, 2004 and 2003
(in millions)
Voting
Common Stock
Non-voting
Common Stock
Class A
FT
Common Stock
PCS
Common Stock Paid-in
Capital
Retained
Earnings
(Deficit)
Accumulated
Other
Comprehensive
Income (Loss)(1) TotalShares Amount Shares Amount Shares Amount Shares Amount
Balance, January 1, 2003 ................. 895 $ 1,790 $ — 43 $ 22 1,000 $ 1,000 $ 9,931 $ 66 $ (701) $ 12,108
Net income ........................... 1,290 1,290
Common stock dividends ................ (450) (450)
Preferred stock dividends ................ (7) (7)
Conversion of PCS common stock
underlying Class A common stock ...... (22) 22 22 —
Cancellation of Class A FT common stock . . (43) —
Common stock issued .................. 9 19 13 13 160 192
Stock-based compensation expense ........ 52 52
Additional minimum pension liability ...... (25) (25)
Other, net ............................ (52) 5 (47)
Balance, December 31, 2003 .............. 904 1,809 — — — — 1,035 1,035 10,084 906 (721) 13,113
Net loss .............................. (1,012) (1,012)
Common stock dividends(2) .............. (183) (480) (663)
Preferred stock dividends ................ (7) (7)
Common stock issued .................. 52 104 2 2 1,855 1,961
Stock-based compensation expense ........ 129 129
Additional minimum pension liability ...... (21) (21)
Conversion of PCS common stock into FON
or voting common stock ............... 519 1,037 (1,037) (1,037) —
Other, net ............................ (5) 26 21
Balance, December 31, 2004 .............. 1,475 2,950 — — — — — — 11,873 (586) (716) 13,521
Net income ........................... 1,785 1,785
Common stock dividends ................ (518) (518)
Preferred stock dividends ................ (7) (7)
Common stock issued to Nextel
shareholders ........................ 1,414 2,829 38 32,816 35,645
Common stock issued .................. 34 67 458 525
Conversion of Nextel vested stock-based
awards upon merger .................. 639 639
Stock-based compensation expense ........ 302 302
Tax benefit from stock compensation ...... 38 38
Additional minimum pension liability ...... (59) (59)
Other, net ............................ 17 — 49 66
Balance, December 31, 2005 .............. 2,923 $ 5,846 38 $ — — $ — — $ — $ 46,136 $ 681 $ (726) $ 51,937
(1) As of December 31, 2005, accumulated other comprehensive loss consists of $(818) additional minimum pension liability, offset by $80 of unrealized net gains related to investments
and derivatives and $12 of foreign currency translation adjustment.
(2) In 2004, voting common stock dividends were paid out of paid-in capital in the quarterly period in which retained earnings were in a deficit position.
See accompanying Notes to the Consolidated Financial Statements.
F-10