Sprint - Nextel 2006 Annual Report Download - page 82

SPRINT NEXTEL CORPORATION
CONSOLIDATED BALANCE SHEETS
2006 2005
December 31,
(in millions, except share data)
ASSETS
Current assets
Cash and cash equivalents . . ....................................... $ 2,046 $ 8,903
Marketable securities . ............................................ 15 1,763
Accounts receivable, net . . . ....................................... 4,595 4,166
Inventories . . .................................................. 1,176 776
Deferred tax assets . . ............................................ 923 1,789
Prepaid expenses and other current assets . . ............................ 1,549 779
Current assets of discontinued operations . . ............................ — 916
Total current assets........................................... 10,304 19,092
Investments ..................................................... 253 2,543
Property, plant and equipment, net ..................................... 25,868 23,329
Intangible assets
Goodwill . . . .................................................. 30,904 21,288
FCC licenses .................................................. 19,519 18,023
Customer relationships, net . ....................................... 7,256 8,651
Other intangible assets, net . ....................................... 2,378 1,345
Other assets .................................................... 679 632
Non-current assets of discontinued operations ........................... — 7,857
$97,161 $102,760
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable . . . ............................................ $ 3,463 $ 3,562
Accrued expenses and other liabilities ................................ 5,192 4,622
Current portion of long-term debt and capital lease obligations . . . ............ 1,143 5,045
Current liabilities of discontinued operations ............................ — 822
Total current liabilities . ....................................... 9,798 14,051
Long-term debt and capital lease obligations............................ 21,011 19,969
Deferred tax liabilities............................................. 10,095 10,405
Pension and other postretirement benefit obligations...................... 244 1,385
Other liabilities .................................................. 2,882 2,753
Non-current liabilities of discontinued operations ........................ — 2,013
Total liabilities . . ............................................ 44,030 50,576
Commitments and contingencies
Seventh series redeemable preferred shares ............................ — 247
Shareholders’ equity
Common shares
Voting, par value $2.00 per share, 6.500 billion shares authorized, 2.951 billion
shares issued and 2.897 billion shares outstanding and 2.923 billion shares
issued and outstanding . ....................................... 5,902 5,846
Non-voting, par value $0.01 per share, 100 million shares authorized, 0 shares
issued and outstanding and 38 million shares issued and outstanding . ...... — —
Paid-in capital.................................................. 46,664 46,136
Retained earnings . . . ............................................ 1,638 681
Treasury shares, at cost ........................................... (925) —
Accumulated other comprehensive loss ................................ (148) (726)
Total shareholders’ equity . . .................................... 53,131 51,937
$97,161 $102,760
See Notes to Consolidated Financial Statements.
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