Sprint - Nextel 2015 Annual Report Download - page 27

Table of Contents
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 United States Cellular Corporation (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,
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,
2016
2015
2014
2013
2013
2012
2013
2013
2012
2011
(in millions, except per share amounts)
Results of Operations
Service revenue $ 27,174
$ 29,542
$ 7,876
$ —
$ 15,094
$ —
$ 16,895
$ 7,980
$ 32,097
$ 30,768
Equipment revenue 5,006
4,990
999
—
1,797
—
1,707
813
3,248
2,911
Net operating revenues 32,180
34,532
8,875
—
16,891
—
18,602
8,793
35,345
33,679
Depreciation 5,794
3,797
868
—
2,026
—
3,098
1,422
6,240
4,455
Amortization 1,294
1,552
429
—
908
—
147
70
303
403
Operating income (loss) 310
(1,895)
420
(14)
(970)
(33)
(885)
29
(1,820)
108
Net loss (1,995)
(3,345)
(151)
(9)
(1,860)
(27)
(1,158)
(643)
(4,326)
(2,890)
Loss per Share and Dividends (1)
Basic and diluted loss per
common
share $(0.50)
$(0.85)
$(0.04)
$(0.54)
$(0.38)
$(0.21)
$(1.44)
$(0.96)
Financial Position
Total assets $ 78,975
$ 82,841
$ 84,549
$ 3,122
$ 85,953
$ 3,115
N/A
$ 50,474
$ 51,278
$ 49,200
Property, plant and
equipment, net 20,297
19,721
16,299
—
16,164
—
N/A
14,025
13,607
14,009
Intangible assets, net 51,117
52,455
55,919
—
56,272
—
N/A
22,352
22,371
22,428
Total debt, capital lease and
financing obligations
(including equity unit notes) 33,958
33,642
32,638
—
32,869
—
N/A
24,217
24,049
20,091
Stockholders' equity 19,783
21,710
25,312
3,122
25,584
3,110
N/A
6,474
7,087
11,427
Cash Flow Data
Net cash provided by (used
in) operating activities $ 3,897
$ 2,450
$ 522
$(2)
$(61)
$ —
$ 2,671
$ 940
$ 2,999
$ 3,691
Capital expenditures -
network and other 4,680
5,422
1,488
—
3,847
—
3,140
1,381
4,261
3,130
Capital expenditures - leased
devices 2,292
582
—
—
—
—
—
—
—
—
_______________
(1) Wedidnotdeclareanydividendsonourcommonsharesinanyoftheperiodsreported.
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