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Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
Summarized quarterly financial information for the years ended December 31, 2011 and 2010 is as follows (in thousands, except per share data):
Under the terms of agreements governing the indebtedness of Clearwire Communications, a subsidiary of Clearwire, such subsidiary is significantly restricted from
making dividend payments, loans or advances to Clearwire. The restrictions have resulted in the restricted net assets (as defined in Securities and Exchange Commission
Rule 4-08(e)(3) of Regulation S-X) of Clearwire’s subsidiary exceeding 25% of the consolidated net assets of Clearwire and its subsidiaries.
The following condensed parent-only financial statements of Clearwire account for the investment in Clearwire
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19. Quarterly Financial Information (unaudited)
First Second Third Fourth Total
2011 quarter:
Total revenues $ 236,808 $ 322,611 $ 332,177 $ 361,870 $ 1,253,466
Operating loss $ (647,358) $ (911,594) $ (399,136) $ (433,149) $ (2,391,237)
Net loss from continuing operations $ (793,160) $ (939,770) $ (479,457) $ (643,346) $ (2,855,733)
Net loss from continuing operations attributable
to Clearwire Corporation $ (216,877) $ (160,525) $ (83,502) $ (235,998) $ (696,902)
Net loss attributable to Clearwire Corporation $ (226,955) $ (168,738) $ (84,791) $ (236,849) $ (717,333)
Net loss from continuing operations attributable
to Clearwire Corporation per Class A Common
Share:
Basic $ (0.89) $ (0.65) $ (0.34) $ (0.81) $ (2.70)
Diluted $ (0.89) $ (0.98) $ (0.53) $ (0.81) $ (2.99)
Net loss attributable to Clearwire Corporation per
Class A Common Share:
Basic $ (0.93) $ (0.68) $ (0.35) $ (0.81) $ (2.78)
Diluted $ (0.93) $ (1.01) $ (0.54) $ (0.81) $ (3.07)
2010 quarter:
Total revenues $ 100,762 $ 117,029 $ 142,162 $ 175,150 $ 535,103
Operating loss $ (394,996) $ (510,973) $ (519,492) $ (737,189) $ (2,162,650)
Net loss from continuing operations $ (426,934) $ (537,023) $ (548,675) $ (738,570) $ (2,251,202)
Net loss from continuing operations attributable
to Clearwire Corporation $ (91,425) $ (123,634) $ (135,501) $ (124,802) $ (475,362)
Net loss attributable to Clearwire Corporation $ (94,092) $ (125,916) $ (139,420) $ (128,009) $ (487,437)
Net loss from continuing operations attributable
to Clearwire Corporation per Class A Common
Share:
Basic $ (0.46) $ (0.60) $ (0.56) $ (0.51) $ (2.14)
Diluted $ (0.47) $ (0.60) $ (0.56) $ (0.79) $ (2.41)
Net loss attributable to Clearwire Corporation per
Class A Common Share:
Basic $ (0.47) $ (0.61) $ (0.58) $ (0.53) $ (2.19)
Diluted $ (0.48) $ (0.61) $ (0.58) $ (0.81) $ (2.46)
20. Parent Company Only Condensed Financial Statements