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Table of Contents
Index to Consolidated Financial Statements
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — ( CONTINUED)
(1)
See Note 15, Related Party Transactions, for further detail regarding balances with related parties.
The income tax provision (benefit) consists of the following for the 190 days ended
July 9, 2013 and the years ended December 31, 2012 and 2011 (in
thousands):
The income tax rate computed using the federal statutory rates is reconciled to the reported effective income tax rate as follows:
F - 67
July 9,
December 31,
2013
2012
Deferred rents associated with tower and spectrum leases(1)
$
795,597
$
717,741
Cease - to - use liability(1)
104,841
114,284
Deferred revenue(1)
13,750
83,887
Other(1)
47,140
47,441
Total
$
961,328
$
963,353
8.
Income Taxes
For the 190 Days
Ended July 9,
Year Ended December 31,
2013
2012
2011
Current taxes:
International
$
—
$
—
$
( 59
)
State
881
1,800
1,579
Total current taxes
881
1,800
1,520
Deferred taxes:
Federal
170,248
(182,520
)
96,292
State
14,351
(16,679
)
9,016
Total deferred taxes
184,599
(199,199
)
105,308
Income tax provision (benefit)
$
185,480
$
(197,399
)
$
106,828
For the 190 Days
Ended July 9,
Year Ended December 31,
2013
2012
2011
Federal statutory income tax rate
35.0
%
35.0
%
35.0
%
State income taxes (net of federal benefit)
0.3
0.7
0.7
Non - controlling interest
(19.9
)
(21.3
)
(27.5
)
Basis adjustments in investments in Clearwire Communications LLC
(11.1
)
1.1
(1.5
)
Other, net
0.8
(1.0
)
0.1
Allocation to items of equity other than other comprehensive income
12.0
(1.2
)
1.7
Valuation allowance
(37.3
)
(3.1
)
(12.4
)
Effective income tax rate
(20.2
)%
10.2
%
(3.9
)%