Sprint - Nextel 2014 Annual Report Download - page 27

Table of Contents
25
Item 6. Selected Financial Data
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 represents the activity and accounts
of Sprint Corporation, which includes the activity and accounts of Starburst II prior to the close of the SoftBank Merger on
July 10, 2013 and Sprint Communications, inclusive of the consolidation of Clearwire Corporation, prospectively following
completion of the SoftBank Merger, beginning on July 11, 2013 (Post-merger period). The accounts and operating activity of
Starburst II prior to the close of the SoftBank Merger primarily related to merger expenses that were incurred in connection
with the SoftBank Merger (recognized in selling, general and administrative expense) and interest related to the $3.1 billion
convertible bond (Bond) Sprint Communications, Inc. issued to Starburst II. 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.
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. 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.
Successor Predecessor
Year Ended
March 31, Three Months Ended March 31, Years Ended December 31,
191 Days
Ended
July 10,
Three Months
Ended
March 31, Years Ended December 31,
2015 2014 2013 2013 2012 2013 2013 2012 2011 2010
(in millions, except per share amounts)
Results of Operations
Service revenue $ 29,542 $ 7,876 $ — $15,094 $ — $ 16,895 $ 7,980 $ 32,097 $ 30,768 $ 29,860
Equipment revenue 4,990 999 — 1,797 — 1,707 813 3,248 2,911 2,703
Net operating revenues 34,532 8,875 — 16,891 — 18,602 8,793 35,345 33,679 32,563
Depreciation 3,797 868 — 2,026 — 3,098 1,422 6,240 4,455 5,074
Amortization 1,552 429 — 908 — 147 70 303 403 1,174
Operating (loss) income (1,895) 420 (14) (970) (33) (885) 29 (1,820) 108 (595)
Net loss (3,345) (151) (9) (1,860) (27) (1,158) (643) (4,326) (2,890) (3,465)
Loss per Share and Dividends(1)
Basic and diluted loss per
common
share $ (0.85) $ (0.04) $ (0.54) $ (0.38) $ (0.21) $ (1.44) $ (0.96) $ (1.16)
Financial Position
Total assets $ 83,030 $84,689 $ 3,122 $ 86,095 $ 3,115 N/A $ 50,757 $ 51,570 $ 49,383 $ 51,654
Property, plant and
equipment, net 19,721 16,299 — 16,164 — N/A 14,025 13,607 14,009 15,214
Intangible assets, net 52,455 55,919 — 56,272 — N/A 22,352 22,371 22,428 22,704
Total debt, capital lease and
financing obligations
(including equity unit notes) 33,831 32,778 — 33,011 — N/A 24,500 24,341 20,274 20,191
Stockholders' equity 21,710 25,312 3,122 25,584 3,110 N/A 6,474 7,087 11,427 14,546
Cash Flow Data
Net cash provided by (used
in) operating activities $ 2,450 $ 522 $ (2) $ (61) $ — $ 2,671 $ 940 $ 2,999 $ 3,691 $ 4,815
Capital expenditures -
network and other 5,422 1,488 — 3,847 — 3,140 1,381 4,261 3,130 1,935
Capital expenditures -
leased devices 582 — — — — — — — — —
_______________
(1) We did not declare any dividends on our common shares in any of the periods reported.