Sprint - Nextel 2013 Annual Report Download - page 28

Table of Contents
The Company's financial statement presentations distinguish between the predecessor period (Predecessor) relating to Sprint Communications
(formerly known as Sprint Nextel Corporation) for periods prior to the SoftBank Merger and the successor period (Successor) relating to Sprint Corporation,
formerly known as Starburst II, for periods subsequent to the incorporation of Starburst II on October 5, 2012. The Successor financial information includes the
activity and accounts of Sprint Corporation as of and for the year ended
December 31, 2013 , which includes the activity and accounts of Sprint Communications,
inclusive of the consolidation of Clearwire beginning on July 11, 2013. The accounts and operating activity for the Successor periods from October 5, 2012 (date
of inception) to December 31, 2012 and from January 1, 2013 to July 10, 2013 consist solely of the activity of Starburst II prior to the close of the SoftBank
Merger, which primarily related to merger expenses that were incurred in connection with the SoftBank Merger (recognized in selling, general and administrative
expense) and interest income related to the $3.1 billion Bond issued to Starburst II by Sprint Nextel Corporation. The Predecessor financial information
represents the historical basis of presentation for Sprint Communications for all periods prior to the SoftBank Merger. See "Item 7. Management's Discussion
and Analysis of Financial Condition and Results of Operations" for additional discussions on our trends and combined information relating to 2013.
The selected financial data presented below is not comparable for all periods presented primarily as a result of transactions such as the SoftBank
Merger and acquisitions of Clearwire and certain assets of U.S. Cellular in 2013 and the acquisitions of Virgin Mobile USA, Inc. (Virgin Mobile) and third
- party
affiliates in 2009. All acquired companies' results of operations subsequent to their acquisition dates are included in our consolidated financial statements. See
"Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" for additional discussions on our trends and combined
information relating to 2013.
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Item 6.
Selected Financial Data
Successor
Predecessor
Years Ended December 31,
191 Days ended July
10,
Years Ended December 31,
2013
2012
2013
2012
2011
2010
2009
(in millions, except per share amounts)
Results of Operations
Net operating revenues
$
16,891
$
—
$
18,602
$
35,345
$
33,679
$
32,563
$
32,260
Depreciation
2,026
—
3,098
6,240
4,455
5,074
5,827
Amortization
908
—
147
303
403
1,174
1,589
Operating (loss) income
(970
)
(33
)
(885
)
(1,820
)
108
(595
)
(1,398
)
Net loss
(1,860
)
(27
)
(1,158
)
(4,326
)
(2,890
)
(3,465
)
(2,436
)
Loss per Share and Dividends
(1)
Basic and diluted loss per common
share
$
(0.54
)
$
(0.38
)
$
(1.44
)
$
(0.96
)
$
(1.16
)
$
(0.84
)
Financial Position
Total assets
$
86,095
$
3,115
N/A
$
51,570
$
49,383
$
51,654
$
55,424
Property, plant and equipment, net
16,164
—
N/A
13,607
14,009
15,214
18,280
Intangible assets, net
56,272
—
N/A
22,371
22,428
22,704
23,462
Total debt, capital lease and financing obligations
(including equity unit notes)
33,011
—
N/A
24,341
20,274
20,191
21,061
Stockholders' equity
25,584
3,110
N/A
7,087
11,427
14,546
18,095
Cash Flow Data
Net cash (used in) provided by operating
activities
$
(61
)
$
—
$
2,671
$
2,999
$
3,691
$
4,815
$
4,891
Capital expenditures
3,847
—
3,140
4,261
3,130
1,935
1,603
(1)
We did not declare any dividends on our common shares in any of the periods reported.