Sprint - Nextel 2008 Annual Report Download - page 73

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SPRINT NEXTEL CORPORATION
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY—(Continued)
(in millions)
Common Shares Paid-in
Capital(3)
Treasury
Shares Comprehensive
Income (Loss)
(Accumulated
Deficit)/
Retained
Earnings(3)
Accumulated
Other
Comprehensive
Loss TotalShares(1) Amount Shares Amount
Balance, December 31, 2008 ........... 2,951 $5,902 $47,332 94 $(1,939) $(30,856) $(524) $19,915
Comprehensive loss
Net loss .......................... $(2,436) (2,436) (2,436)
Other comprehensive income, net of tax
Unrecognized net periodic pension and
other postretirement benefits ...... 140
Foreign currency translation
adjustment .................... 18
Unrealized holding gains on
securities ..................... 14
Other comprehensive income ......... 172 172 172
Comprehensive loss ................... $(2,264)
Issuance of common shares, net ......... (20) 491 (487) 4
Share-based compensation expense ....... 78 78
Conversion of series 2 to series 1 common
shares ............................ (40) (80) (785) (40) 865
Equity consideration related to Virgin
Mobile acquisition .................. 96 193 186 379
Other, net ........................... (18) 1 (17)
Balance, December 31, 2009 ........... 3,007 $6,015 $46,793 34 $ (582) $(33,779) $(352) $18,095
(1) See note 14 for information regarding common shares.
(2) On November 28, 2008, we recorded a $424 million gain on the deconsolidation of net assets contributed to
Clearwire, net of $260 million in related taxes. See note 4 for details of this transaction.
(3) We made an immaterial correction to previously reported shareholders’ equity. Paid-in Capital and (Accumulated
Deficit)/Retained Earnings as of December 31, 2006 has been adjusted by $18 million and $292 million,
respectively, related to a reduction in deferred tax liabilities. In completing a detailed reconciliation of the net
deferred tax liabilities in 2009, it was determined the net deferred tax liabilities were overstated by $310 million.
See Notes to the Consolidated Financial Statements
F-7