Sprint - Nextel 2011 Annual Report Download - page 109

Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
See notes to consolidated financial statements
F-42
Year ended December 31,
2011 2010 2009
(In thousands)
Cash flows from operating activities:
Net loss from continuing operations $ (2,855,733)
$ (2,251,202) $ (1,208,588)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income taxes 105,308
—
(218)
Non-cash gain on derivative instruments (145,308) (63,255) (6,939)
Accretion of discount on debt 40,216 6,113 66,375
Depreciation and amortization 687,636 454,003 190,273
Amortization of spectrum leases 53,674 57,433 57,898
Non-cash rent expense 342,962 200,901 108,953
Loss on property, plant and equipment (Note 5) 966,441 345,727 60,493
Other operating activities 27,745 49,506 30,477
Changes in assets and liabilities:
Inventory 15,697 (11,697) (9,713)
Accounts receivable (54,212) (20,550) (2,069)
Prepaids and other assets 22,447 (73,767) (65,150)
Prepaid spectrum licenses (4,360) (3,294) (23,861)
Accounts payable and other liabilities (135,683) 144,680 326,527
Net cash used in operating activities of continuing operations (933,170) (1,165,402) (475,542)
Net cash provided by (used in) operating activities of discontinued operations 2,381 (3,311) 3,058
Net cash used in operating activities (930,789) (1,168,713) (472,484)
Cash flows from investing activities:
Capital expenditures (405,655) (2,646,365) (1,444,126)
Purchases of available-for-sale investments (957,883) (2,098,705) (3,571,154)
Disposition of available-for-sale investments 1,255,176 3,776,805 3,280,455
Other investing activities 20,229 (44,119) (40,887)
Net cash used in investing activities of continuing operations (88,133) (1,012,384) (1,775,712)
Net cash used in investing activities of discontinued operations (3,886) (834) (7,287)
Net cash used in investing activities (92,019) (1,013,218) (1,782,999)
Cash flows from financing activities:
Principal payments on long-term debt (29,957) (876) (1,171,775)
Proceeds from issuance of long-term debt
—
1,413,319 2,467,830
Debt financing fees (1,159) (53,285) (44,217)
Equity investment by strategic investors 331,400 54,828 1,481,813
Proceeds from issuance of common stock 387,279 304,015 12,196
Net cash provided by financing activities of continuing operations 687,563 1,718,001 2,745,847
Net cash provided by financing activities of discontinued operations
—
—
—
Net cash provided by financing activities 687,563 1,718,001 2,745,847
Effect of foreign currency exchange rates on cash and cash equivalents (4,573) (525) 1,510
Net (decrease) increase in cash and cash equivalents (339,818) (464,455) 491,874
Cash and cash equivalents:
Beginning of period 1,233,562 1,698,017 1,206,143
End of period 893,744 1,233,562 1,698,017
Less: cash and cash equivalents of discontinued operations at end of period 1,815 3,320 7,465
Cash and cash equivalents of continuing operations at end of period $ 891,929 $ 1,230,242 $ 1,690,552
Supplemental cash flow disclosures:
Cash paid for interest including capitalized interest paid $ 474,849 $ 336,314 $ 119,277
Swap interest paid, net $
—
$
—
$ 13,915
Non-cash investing activities:
Fixed asset purchases in accounts payable and accrued expenses $ 14,144 $ 120,025 $ 89,792
Fixed asset purchases financed by long-term debt $ 11,514 $ 133,288 $
—
Non-cash financing activities:
Vendor financing obligations $ (3,332)
$ (60,251) $
—
Capital lease obligations $ (8,182)
$ (73,037) $
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