Clearwire 2010 Annual Report Download - page 62
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Results of Operations
The following table sets forth as reported operating data for the periods presented (in thousands, except per
share data).
CONSOLIDATED STATEMENTS OF OPERATIONS
2010 2009 2008(1)
Year Ended December 31,
Revenues. . ............................................. $ 556,826 $ 274,458 $ 20,489
Operating expenses:
Cost of goods and services and network costs (exclusive of items
shown separately below) . . . ............................. 927,455 428,348 132,525
Selling, general and administrative expense . . .................. 907,793 553,915 149,904
Depreciation and amortization . ............................. 466,112 208,263 58,146
Spectrum lease expense .................................. 279,993 259,359 90,032
Loss from abandonment and impairment of network and other assets . . 190,352 7,916 —
Transaction related expenses . . ............................. — — 82,960
Total operating expenses . . . ............................. 2,771,705 1,457,801 513,567
Operating loss . . . ........................................ (2,214,879) (1,183,343) (493,078)
Other income (expense):
Interest income. ........................................ 4,965 9,691 1,091
Interest expense ........................................ (152,868) (69,468) (16,545)
Gain (loss) on derivative instruments . ........................ 63,255 (6,976) (6,072)
Other expense, net ...................................... (3,723) (3,038) (16,136)
Total other income (expense), net ............................. (88,371) (69,791) (37,662)
Loss before income taxes . .................................. (2,303,250) (1,253,134) (530,740)
Income tax benefit (provision) . ............................. 156 (712) (61,607)
Net loss. . . ............................................. (2,303,094) (1,253,846) (592,347)
Less: non-controlling interests in net loss of consolidated
subsidiaries. . ........................................ 1,815,657 928,264 159,721
Net loss attributable to Clearwire Corporation . . .................. $ (487,437) $ (325,582) $(432,626)
Net loss attributable to Clearwire Corporation per Class A Common
Share(2):
Basic . . . ............................................. $ (2.19) $ (1.72) $ (0.16)
Diluted . ............................................. $ (2.46) $ (1.74) $ (0.28)
(1) The year ended December 31, 2008 includes the results of operations for the Sprint WiMAX Business for the
first eleven months of 2008 prior to the closing of the Transactions and the results of our operations subsequent
to the Closing.
(2) Prior to the Closing, we had no equity as we were a wholly-owned division of Sprint. As such, we did not
calculate or present net loss per share for the period from January 1, 2008 to November 28, 2008. We have
calculated and presented basic and diluted net loss per share for the period from November 29, 2008 through
December 31, 2008 and for the years ended December 31, 2010 and 2009.
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