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Table of Contents
Index to Consolidated Financial Statements
CLEARWIRE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
190 Days Ended July 9,
Year ended December 31,
2013
2012
2011
(In thousands)
Cash flows from operating activities:
Net loss from continuing operations $ (1,102,305)
$ (1,743,745)
$ (2,855,733)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income taxes 184,599
(199,199)
105,308
Non-cash gain on derivative instruments (5,337)
(1,356)
(145,308)
Accretion of discount on debt 36,832
41,386
40,216
Depreciation and amortization 370,411
768,193
687,636
Amortization of spectrum leases 27,871
54,328
53,674
Non-cash rent expense 82,332
197,169
342,962
Loss on property, plant and equipment (Note 4) 10,085
171,780
966,441
Other operating activities 20,973
42,740
27,745
Changes in assets and liabilities:
Inventory (10,057)
11,200
15,697
Accounts receivable (2,770)
50,401
(54,212)
Prepaids and other assets (53,431)
326
22,447
Prepaid spectrum licenses —
1,904
(4,360)
Deferred revenue 39,227
170,455
16,497
Accounts payable and other liabilities 60,329
(17,090)
(152,180)
Net cash used in operating activities of continuing operations (341,241)
(451,508)
(933,170)
Net cash provided by (used in) operating activities of discontinued operations —
(3,000)
2,381
Net cash used in operating activities (341,241)
(454,508)
(930,789)
Cash flows from investing activities:
Capital expenditures (76,843)
(112,997)
(405,655)
Purchases of available-for-sale investments (501,814)
(1,797,787)
(957,883)
Disposition of available-for-sale investments 699,450
1,339,078
1,255,176
Other investing activities 1,224
(655)
20,229
Net cash provided by (used in) investing activities of continuing operations 122,017
(572,361)
(88,133)
Net cash provided by (used in) investing activities of discontinued operations —
1,185
(3,886)
Net cash provided by (used in) investing activities 122,017
(571,176)
(92,019)
Cash flows from financing activities:
Principal payments on long-term debt (20,566)
(26,985)
(29,957)
Proceeds from issuance of long-term debt 240,000
300,000
—
Debt financing fees —
(6,205)
(1,159)
Equity investment by strategic investors 199
8
331,400
Proceeds from issuance of common stock —
58,460
387,279
Net cash provided by financing activities of continuing operations 219,633
325,278
687,563
Net cash provided by financing activities of discontinued operations —
—
—
Net cash provided by financing activities 219,633
325,278
687,563
Effect of foreign currency exchange rates on cash and cash equivalents 58
107
(4,573)
Net increase (decrease) in cash and cash equivalents 467
(700,299)
(339,818)
Cash and cash equivalents:
Beginning of period 193,445
893,744
1,233,562
End of period 193,912
193,445
893,744
Less: cash and cash equivalents of discontinued operations at end of period —
—
1,815
Cash and cash equivalents of continuing operations at end of period $ 193,912
$ 193,445
$ 891,929
Supplemental cash flow disclosures:
Cash paid for interest including capitalized interest paid $ 256,227
$ 505,913
$ 474,849