Sprint - Nextel 2011 Annual Report Download - page 72

Table of Contents
SPRINT NEXTEL CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
See Notes to the Consolidated Financial Statements
F-5
Year Ended December 31,
2011 2010 2009
(in millions)
Cash flows from operating activities
Net loss $ (2,890) $ (3,465) $ (2,436)
Adjustments to reconcile net loss to net cash provided by operating activities:
Asset impairments 78 125 47
Depreciation and amortization 4,858 6,248 7,416
Provision for losses on accounts receivable 559 430 398
Share-based compensation expense 73 70 79
Deferred and other income taxes 231 230 (850)
Equity in losses of unconsolidated investments, net 1,730 1,286 803
Gains from asset dispositions and exchanges
—
(69) (68)
Contribution to pension plan (136)
—
(200)
Gain on previously held non-controlling interest in Virgin Mobile
—
—
(151)
Other changes in assets and liabilities, net of effects of acquisitions:
Accounts and notes receivable (729) (473) 26
Inventories and other current assets (238) 9 3
Accounts payable and other current liabilities 90 558 (100)
Non-current assets and liabilities, net 48 (27) (88)
Other, net 17 (107) 12
Net cash provided by operating activities 3,691 4,815 4,891
Cash flows from investing activities
Capital expenditures (3,130) (1,935) (1,603)
Expenditures relating to FCC licenses (258) (459) (591)
Reimbursements relating to FCC licenses 135
—
—
Acquisitions, net of cash acquired
—
—
(560)
Investment in Clearwire (331) (58) (1,118)
Proceeds from sales and maturities of short-term investments 980 155 573
Purchases of short-term investments (830) (350) (650)
Other, net (9) 91 105
Net cash used in investing activities (3,443) (2,556) (3,844)
Cash flows from financing activities
Proceeds from debt and financings 4,000
—
1,303
Repayments of debt and capital lease obligations (3,906) (862) (2,226)
Debt financing costs (86) (51)
—
Proceeds from issuance of common shares, net 18 8 4
Net cash provided by (used in) financing activities 26 (905) (919)
Net increase in cash and cash equivalents 274 1,354 128
Cash and cash equivalents, beginning of year 5,173 3,819 3,691
Cash and cash equivalents, end of year $5,447 $5,173 $3,819