Sprint - Nextel 2008 Annual Report Download - page 71

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SPRINT NEXTEL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31,
2009 2008 2007
(in millions)
Cash flows from operating activities
Net loss ............................................................................... $(2,436) $(2,796) $(29,444)
Adjustments to reconcile net loss to net cash provided by operating activities:
Goodwill and asset impairments ........................................................ 47 1,443 29,812
Depreciation and amortization ......................................................... 7,416 8,407 8,933
Provision for losses on accounts receivable ............................................... 398 652 920
Share-based compensation expense ..................................................... 79 267 265
Deferred and other income taxes ....................................................... (850) (1,263) (326)
Equity in losses of unconsolidated investments, net ......................................... 803 145 3
Gains from asset dispositions and exchanges .............................................. (68) (29) —
Contribution to pension plan ........................................................... (200) — (30)
Gain on non-controlling interest in VMU ................................................. (151) — —
Other changes in assets and liabilities, net of effects of acquisitions:
Accounts and notes receivable ............................................................. 26 203 (504)
Inventories and other current assets ......................................................... 3 342 182
Accounts payable and other current liabilities ................................................. (100) (1,137) (471)
Other, net .................................................................................. (76) (55) (95)
Net cash provided by operating activities ....................................... 4,891 6,179 9,245
Cash flows from investing activities
Capital expenditures ..................................................................... (1,603) (3,882) (6,322)
Expenditures relating to FCC licenses ....................................................... (591) (801) (835)
Acquisitions, net of cash acquired .......................................................... (560) — (287)
Proceeds from equity method investments .................................................... — 213 200
Investment in Clearwire .................................................................. (1,118) — —
Proceeds from sales and maturities of short-term investments ..................................... 573 204 15
Purchases of short-term investments ........................................................ (650) (51) (194)
Cash collateral for securities loan agreements ................................................. — — 866
Other, net .............................................................................. 105 67 180
Net cash used in investing activities ........................................... (3,844) (4,250) (6,377)
Cash flows from financing activities
Proceeds from debt and financings ......................................................... 1,303 3,826 7,508
Repayments of debt and capital lease obligations .............................................. (2,226) (4,367) (7,535)
Payments of securities loan agreements ...................................................... — — (866)
Proceeds from issuance of common shares, net ................................................ 4 57 344
Purchase of common shares ............................................................... — — (1,833)
Dividends paid ......................................................................... — — (286)
Net cash used in financing activities ........................................... (919) (484) (2,668)
Net increase in cash and cash equivalents .......................................................... 128 1,445 200
Cash and cash equivalents, beginning of year ....................................................... 3,691 2,246 2,046
Cash and cash equivalents, end of year ............................................................. $3,819 $ 3,691 $ 2,246
See Notes to the Consolidated Financial Statements
F-5