Sprint - Nextel 2014 Annual Report Download - page 166
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Table of Contents
Index to Consolidated Financial Statements
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —(CONTINUED)
F-83
3. Investments
Investments as of July 9, 2013 and December 31, 2012 consisted of the following (in thousands):
July 9, 2013 December 31, 2012
Gross Unrealized Gross Unrealized
Cost Gains Losses Fair Value Cost Gains Losses Fair Value
Short-term
U.S. Government
and Agency Issues $ 476,170 $ 54 $ — $ 476,224 $ 675,024 $ 88 $ — $ 675,112
During the first quarter of 2012, we sold the Auction Market Preferred securities and recorded a gain of $3.3
million to Other income (expense), net on the consolidated statements of operations representing the total proceeds
received. We no longer own any collateralized debt obligations or Auction Market Preferred securities.
No other-than-temporary impairment losses were recorded for the 190 days ended July 9, 2013 or the years
ended December 31, 2012 or 2011.
4. Property, Plant and Equipment
Property, plant and equipment as of July 9, 2013 and December 31, 2012 consisted of the following (in
thousands):
Useful July 9, December 31,
Lives (Years) 2013 2012
Network and base station equipment 5-15 $ 3,400,849 $ 3,396,376
Customer premise equipment 2 35,962 45,376
Furniture, fixtures and equipment 3-5 487,470 480,160
Leasehold improvements Lesser of useful life
or lease term 27,714 30,142
Construction in progress N/A 184,022 156,630
4,136,017 4,108,684
Less: accumulated depreciation and amortization (2,116,691)(1,849,680)
$ 2,019,326 $ 2,259,004
190 Days Ended
July 9, Year Ended December 31,
2013 2012 2011
Supplemental information (in thousands):
Capitalized interest $ 6,751 $ 6,598 $ 18,823
Depreciation expense $ 362,777 $ 749,765 $ 665,344
We have entered into lease arrangements related to our network construction and equipment that meet the
criteria for capital leases. At July 9, 2013 and December 31, 2012, we have recorded capital lease assets with an
original cost of $151.8 million and $112.8 million, respectively, within network and base station equipment.
Construction in progress is primarily composed of costs incurred during the process of completing network
projects not yet placed in service. The balance at July 9, 2013 included $145.5 million of costs related to completing
network projects not yet placed in service, $38.1 million of network and base station equipment not yet assigned to a
project and $0.4 million of costs related to information technology, which we refer to as IT, and other corporate
projects.