Sprint - Nextel 2011 Annual Report Download - page 141

Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The following shows the effects of the changes in Clearwire’s ownership interests in Clearwire Communications (in thousands):
Dividend Policy
We have not declared or paid any cash dividends on Class A or Class B Common Stock. We currently expect to retain future earnings, if any, for use in the
operations and expansion of our business. We do not anticipate paying any cash dividends in the foreseeable future. In addition, covenants in the indenture governing our
Senior Secured Notes impose significant restrictions on our ability to pay cash dividends to our stockholders.
Non-controlling Interests in Clearwire Communications
Clearwire Communications is consolidated into Clearwire because we hold 100% of the voting interest in Clearwire Communications. Therefore, the holders of the
Class B Common Interests represent non-controlling interests in a consolidated subsidiary. As a result, the income (loss) consolidated by Clearwire is decreased in
proportion to the outstanding non-controlling interests.
Warrants
As of December 31, 2011, there were 1,400,001 warrants outstanding with an expiration date of March 12, 2012 and 375,000 warrants outstanding with an
expiration date of November 13, 2013. Holders may exercise their warrants at any time, with exercise prices ranging from $3.00 to $48.00.
F-74
Year Ended
December 31,
2011
Year Ended
December 31,
2010
Year Ended
December 31,
2009
Clearwire's loss from equity investees (note 20) $ (612,214) $ (496,875) $ (319,199)
Decrease in Clearwire’s additional paid-in capital for issuance of Class A and B Common Stock related to
the post-closing adjustment
—
—
(33,632)
Increase/(decrease) in Clearwire’s additional paid-in capital for issuance of Class B Common Stock 137,353 (64,569) (140,253)
Increase in Clearwire’s additional paid-in capital for issuance of Class A Common Stock 384,106 301,849 17,957
Other effects of changes in Clearwire’s additional paid-in capital for issuance of Class A and Class B
Common Stock 18,870 145,785
—
Net transfers (to) from non-controlling interests 540,329 383,065 (155,928)
Change from net loss attributable to Clearwire and transfers to non-controlling interests $ (71,885) $ (113,810) $ (475,127)