Clearwire 2009 Annual Report Download - page 80

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Fi
nanc
i
n
g
Act
i
v
i
t
i
es
Net cash provided b
y
financin
g
activities was $2.75 billion for the
y
ear ended December 31, 2009. This is
p
rimarily due to
$
1.48 billion of cash received from the Private Placement,
$
2.47 billion received from the issuance
of the Senior Secured Notes and the Rollover Notes and $12.2 million in
p
roceeds from the issuance of shares of
Class A Common Stock to CW Investments Holdings LLC and proceeds from exercises of Class A Common Stoc
k
options. These are partially offset by payments of
$
1.17 billion on our Senior Term Loan Facility, which was retired
on Novem
b
er 24
,
2009
.
Our pa
y
ment obli
g
ations under the Senior Secured Notes and Rollover Notes are
g
uaranteed b
y
certai
n
domestic subsidiaries on a senior basis and secured b
y
certain assets of such subsidiaries on a first-priorit
y
lien. Th
e
S
en
i
or Secure
d
Notes an
d
Ro
ll
over Notes conta
i
n
li
m
i
tat
i
ons on our act
i
v
i
t
i
es, w
hi
c
h
among ot
h
er t
hi
ngs
i
nc
l
u
d
e
i
ncurrin
g
additional indebtedness and
g
uarantee indebtedness; makin
g
distributions or pa
y
ment of dividends or
c
ertain other restricted pa
y
ments or investments; makin
g
certain pa
y
ments on indebtedness; enterin
g
into a
g
ree
-
m
ents t
h
at restr
i
ct
di
str
ib
ut
i
ons
f
rom restr
i
cte
d
su
b
s
idi
ar
i
es; se
lli
ng or ot
h
erw
i
se
di
spos
i
ng o
f
assets; merger
,
c
onsolidation or sales of substantiall
y
all of our assets; enterin
g
transactions with affiliates; creatin
g
liens; issuin
g
c
ertain preferred stock or similar equit
y
securities and makin
g
investments and acquirin
g
assets. At December 31
,
2009, we were
i
n comp
li
ance w
i
t
h
our
d
e
b
t covenants.
Net cash provided b
y
financin
g
activities was $3.86 billion for the
y
ear ended December 31, 2008. This is
p
rimaril
y
due to $3.20 billion of cash received from the Investors, $532.2 million pre-transaction fundin
g
from
S
print and
$
392.2 million from the Sprint Pre-Closing Financing Amount, up through the Closing. These are
p
artiall
y
offset b
y
$213.0 million paid to Sprint for partial reimbursement of the pre-closin
g
financin
g
,a
$50.0 million debt financin
g
fee and a $3.6 million pa
y
ment on our Senior Term Loan Facilit
y
.
Net cash provided b
y
financin
g
activities was $1.02 billion for the
y
ear ended December 31, 2007. This was
due to advances from S
p
rint
.
C
ontractual Obligation
s
Th
e contractua
l
o
bli
gat
i
ons presente
di
nt
h
eta
bl
e
b
e
l
ow represent our est
i
mates o
ff
uture payments un
d
er
fi
xe
d
c
ontractua
l
o
blig
at
i
ons an
d
comm
i
tments as o
f
Decem
b
er 31, 2009. C
h
an
g
es
i
n our
b
us
i
ness nee
d
sor
i
nterest rates
,
as well as actions b
y
third parties and other factors, ma
y
cause these estimates to chan
g
e. Because these estimate
s
are comp
l
ex an
d
necessar
il
ysu
bj
ect
i
ve, our actua
l
payments
i
n
f
uture per
i
o
d
s are
lik
e
l
y to vary
f
rom t
h
os
e
p
resente
di
nt
h
eta
bl
e. T
h
e
f
o
ll
ow
i
ng ta
bl
e summar
i
zes our contractua
l
o
bli
gat
i
ons
i
nc
l
u
di
ng pr
i
nc
i
pa
l
an
di
nterest
p
a
y
ments under our debt obli
g
ations, pa
y
ments under our spectrum lease obli
g
ations, and other contractual
o
bli
gat
i
ons as o
f
Decem
b
er 31, 2009 (
i
nt
h
ousan
d
s):
C
ontractual
O
bl
ig
at
i
ons Tota
l
Less Tha
n
1 Year 1 - 3 Years 3 - 5 Years
O
ver 5 Years
Lon
g
-term debt obli
g
ations . . . . .
$
2,772,494
$
—
$
—
$
—
$
2,772,494
Interest payments(1) . . . . . . . . . . 1,997,139 333,644 665,398 665,398 332,699
O
perating lease obligations . . . . . 6,496,660 214,717 441,279 446,768 5,393,89
6
Spectrum lease obligations . . . . .
5
,164,616 127,749 27
5
,879 290,229 4,470,7
5
9
S
p
ectrum service credits . . . . . . . 9
5
,672 986 1,972 1,973 90,741
Si
g
ned spectrum a
g
reements . . . . 29,983 29,983 — —
—
Network e
q
ui
p
ment
p
urchase
obli
g
ations(2) . . . . . . . . . . . . . 422,744 422,744 — — —
O
ther purchase obli
g
ations(3) . . . 162,474 96,030 52,978 13,466 —
Total
(
4
)
...................
$
17,141,782
$
1,225,853
$
1,437,506
$
1,417,834
$
13,060,589
(1) Our interest pa
y
ment obli
g
ations are calculated for all
y
ears on debt obli
g
ations outstandin
g
as of December 31
,
2009, using an interest rate of a 12%.
7
0