Sprint - Nextel 2014 Annual Report Download - page 112

Table of Contents
Index to Consolidated Financial Statements
SPRINT CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F-29
Note 8. Long-Term Debt, Financing and Capital Lease Obligations
Interest Rates Maturities March 31,
2015 March 31, 2014
(in millions)
Notes
Senior notes
Sprint Corporation 7.13 - 7.88% 2021 - 2025 $ 10,500 $ 9,000
Sprint Communications, Inc. 6.00 - 11.50% 2016 - 2022 9,280 9,280
Sprint Capital Corporation 6.88 - 8.75% 2019 - 2032 6,204 6,204
Guaranteed notes
Sprint Communications, Inc. 7.00 - 9.00% 2018 - 2020 4,000 4,000
Secured notes
iPCS, Inc. 3.49% 2014 — 181
Clearwire Communications LLC (1) 14.75% 2016 300 300
Exchangeable notes
Clearwire Communications LLC (1) 8.25% 2040 629 629
Credit facilities
Bank credit facility 3.31% 2018 — —
Export Development Canada (EDC) 3.50 - 4.08% 2015 - 2019 800 500
Secured equipment credit facilities 1.85 - 2.20% 2017 - 2022 610 762
Financing obligation 6.09% 2021 275 327
Capital lease obligations and other 2.35 - 10.52% 2015 - 2023 127 187
Net premiums 1,106 1,408
33,831 32,778
Less current portion (1,300) (991)
Long-term debt, financing and capital lease obligations $ 32,531 $ 31,787
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(1) Notes of Clearwire Communications LLC are also direct obligations of Clearwire Finance, Inc. and are guaranteed by certain
Clearwire subsidiaries.
As of March 31, 2015, Sprint Corporation, the parent corporation, had $10.5 billion in aggregate principal amount
of senior notes outstanding. In addition, as of March 31, 2015, the outstanding principal amount of senior notes issued by
Sprint Communications, Inc. and Sprint Capital Corporation, guaranteed notes issued by Sprint Communications, Inc.,
exchangeable notes issued by Clearwire Communications LLC, the EDC agreement and the secured equipment credit
facilities, totaling $21.5 billion in principal amount of our long-term debt issued by 100% owned subsidiaries, was fully and
unconditionally guaranteed by Sprint Corporation. The indentures and financing arrangements governing certain of our
subsidiaries' debt contain provisions that limit cash dividend payments on subsidiary common stock. Except in the case of
notes issued by and secured by assets of Clearwire Communications LLC, the transfer of cash from subsidiaries to the parent
corporation generally is not restricted.
As of March 31, 2015, approximately $1.3 billion aggregate principal amount of our outstanding debt, comprised
of certain notes, financing and capital lease obligations and mortgages, was secured by $14.6 billion of property, plant and
equipment and other assets, net. Cash interest payments, net of amounts capitalized of $56 million, $13 million, and $30
million, totaled $2.3 billion, $559 million, and $1.0 billion during the Successor year ended March 31, 2015, the three-month
transition period ended March 31, 2014 and year ended December 31, 2013, respectively. Cash interest payments, net of
amounts capitalized of $29 million, $15 million, and $278 million, totaled $814 million, $305 million, and $1.4 billion during
the Predecessor 191-day period ended July 10, 2013, unaudited three-month period ended March 31, 2013 and year ended
December 31, 2012, respectively. Our weighted average effective interest rate related to our notes and credit facilities was
6.1%, 6.2%, and 6.4% for the Successor year ended March 31, 2015, three-month transition period ended March 31, 2014,