Sprint - Nextel 2008 Annual Report Download - page 109

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Note 16. Quarterly Financial Data (Unaudited)
Quarter
1st 2nd 3rd 4th
(in millions, except per share amounts)
2009
Net operating revenues ......................................... $8,209 $8,141 $8,042 $ 7,868
Operating loss ................................................ (487) (113) (254) (544)
Net loss(1) .................................................... (594) (384) (478) (980)
Basic and diluted loss per common share(2) .......................... (0.21) (0.13) (0.17) (0.34)
Quarter
1st 2nd 3rd 4th
(in millions, except per share amounts)
2008
Net operating revenues ......................................... $9,334 $9,055 $8,816 $ 8,430
Operating loss(3) ............................................... (498) (210) (205) (1,729)
Net loss(3) .................................................... (505) (344) (326) (1,621)
Basic and diluted loss per common share (2) ......................... (0.18) (0.12) (0.11) (0.57)
(1) In the first quarter 2009, we recorded a $154 million non-cash loss representing the finalization of our
ownership percentages in Clearwire. In the fourth quarter 2009, we recorded a non-cash gain of $151
million related to our non-controlling interest in VMU as well as an increase in our tax valuation
allowance of $306 million.
(2) The sum of the quarterly earnings per share amounts may not equal the annual amounts because of the
changes in the weighted average number of shares outstanding during the year.
(3) In the fourth quarter 2008, we performed our annual goodwill analysis and recorded a non-cash goodwill
impairment charge of $963 million. In addition, we recorded asset impairments, gains on dispositions of
assets and lease exit costs of $493 million.
F-43