Sprint - Nextel 2012 Annual Report Download - page 155

Table of Contents
SPRINT NEXTEL CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Our articles of incorporation authorize 6,620,000,000 shares of capital stock as follows:
Classes of Common Stock
Series 1 Common Stock
The holders of our Series 1 common stock are entitled to one vote per share on all matters submitted for action by the shareholders. There
were about
3.0 billion shares of Series 1 common stock outstanding as of December 31, 2012 .
Series 2 Common Stock
The holders of our Series 2 common stock are entitled to
10% of one vote per share, but otherwise have rights that are substantially
identical to those of the Series 1 common stock. In 2011, the remaining
35 million Series 2 shares were converted to 35 million Series 1 shares, resulting
in a
$38 million and $168 million reduction in common shares and paid - in capital, respectively, and a corresponding $206 million reduction in treasury
shares. As a result, there were no shares of Series 2 common stock outstanding as of December 31, 2012 .
Treasury Shares
Shares of common stock repurchased by us are recorded at cost as treasury shares and result in a reduction of shareholders' equity. We
reissue treasury shares as part of our shareholder approved stock
- based compensation programs, as well as upon conversion of outstanding
securities that are convertible into common stock. When shares are reissued, we determine the cost using the FIFO method.
Dividends
We did not declare any dividends on our common shares in
2012, 2011 , or 2010 . We are currently restricted from paying cash dividends by
the terms of our revolving bank credit facility as described in note 8.
Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss, net of tax are as follows:
F - 34
Note 14.
Shareholders' Equity and Per Share Data
•
6,000,000,000 shares of Series 1 voting common stock, par value $2.00 per share;
•
500,000,000 shares of Series 2 voting common stock, par value $2.00 per share;
•
100,000,000 shares of non - voting common stock, par value $0.01 per share; and
•
20,000,000 shares of preferred stock, no par value per share.
As of December 31,
2012
2011
(in millions)
Unrecognized net periodic pension and postretirement benefit cost
$
(1,169
)
$
(830
)
Unrealized net gains related to investments
9
7
Foreign currency translation adjustments
27
31
Accumulated other comprehensive loss
$
(1,133
)
$
(792
)