Sprint - Nextel 2005 Annual Report Download - page 48
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In 2002, we recorded charges reducing our operating income by $402 million and reducing income from
continuing operations by $253 million. The charges related primarily to restructurings, asset impairments
and expected loss on WorldCom (now Verizon) receivables.
In 2001, we recorded charges reducing our operating income by $1.8 billion to an operating loss and
increasing the loss from continuing operations by $1.2 billion. The charges related primarily to
restructuring and asset impairments.
(2) We adopted Statement of Financial Accounting Standards, or SFAS, No. 142, Goodwill and Other
Intangible Assets, on January 1, 2002. Accordingly, amortization of goodwill, spectrum licenses and
trademarks ceased as of that date because they are indefinite life intangibles.
(3) As the effects of including the incremental shares associated with options, restricted stock units and
employees stock purchase plan shares are antidilutive, both basic loss per share and diluted loss per share
reflect the same calculation for the years ended December 31, 2004, 2003, and 2001.
(4) All per share amounts have been restated, for all periods before 2004, to reflect the recombination of our
common stock and PCS common stock as of the earliest period presented at an identical conversion ratio (0.50
shares of our common stock for each share of PCS common stock). The conversion ratio was also applied to
dilutive PCS securities (mainly stock options, employees stock purchase plan shares, convertible preferred
stock, and restricted stock units) to determine diluted weighted average shares on a consolidated basis.
(5) In the first and second quarter 2005, a dividend of $0.125 per share was paid. In the third and fourth
quarter 2005, the dividend was $0.025 per share.
(6) Before the recombination of our two tracking stocks, shares of PCS common stock did not receive dividends.
For each of the four years ended December 31, 2004 and prior, shares of our common stock (before the
conversion of shares of PCS common stock) received dividends of $0.50 per share. In the first quarter 2004,
shares of our common stock (before the conversion of shares of PCS common stock) received a dividend of
$0.125 per share. In the second, third and fourth quarter 2004, shares of our common stock, which included
shares resulting from the conversion of shares of PCS common stock, received quarterly dividends of $0.125
per share.
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