Sprint - Nextel 2008 Annual Report Download - page 70
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SPRINT NEXTEL CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2009 2008 2007
(in millions, except per share amounts)
Net operating revenues ............................................. $32,260 $35,635 $ 40,146
Operating expenses
Cost of services and products (exclusive of depreciation and amortization
included below) .............................................. 16,435 16,746 17,191
Selling, general and administrative ................................. 9,453 11,355 12,673
Severance, exit costs and asset impairments ......................... 447 835 440
Goodwill impairment ........................................... — 963 29,649
Depreciation .................................................. 5,827 5,964 5,621
Amortization .................................................. 1,589 2,443 3,312
Other, net ..................................................... (93) (29) —
33,658 38,277 68,886
Operating loss .................................................... (1,398) (2,642) (28,740)
Other (expense) income
Interest expense ................................................ (1,450) (1,362) (1,433)
Equity in losses of unconsolidated investments, net .................... (803) (145) (3)
Other income, net .............................................. 157 89 401
(2,096) (1,418) (1,035)
Loss before income taxes ........................................... (3,494) (4,060) (29,775)
Income tax benefit ................................................. 1,058 1,264 331
Net loss .......................................................... $(2,436) $ (2,796) $(29,444)
Basic and diluted loss per common share .............................. $ (0.84) $ (0.98) $ (10.24)
Basic and diluted weighted average common shares outstanding .......... 2,886 2,863 2,874
See Notes to the Consolidated Financial Statements
F-4