Cricket Wireless 2010 Annual Report Download - page 122
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and a $15.0 million increase to redeemable non-controlling interests (formerly referred to as minority interests) as
of December 31, 2008. The Company has retrospectively applied the guidance for non-controlling interests to all
prior periods presented.
Prior to the acquisition by the Company of all of the remaining membership interests in LCW Wireless and
Denali on August 25, 2010 and December 27, 2010, respectively, the Company consolidated its interests in these
ventures (along with their wholly-owned subsidiaries), in accordance with the authoritative guidance for
consolidation of variable interest entities.
As described in Note 3, the Company consolidates its non-controlling membership interest in Savary Island in
accordance with the authoritative guidance for the consolidation of variable interest entities because Savary Island
is a variable interest entity and the Company has entered into an agreement with Savary Island’s other member
which establishes a specified purchase price in the event that exercises its right to sell its membership interest to the
Company. Also, as described in Note 3, the Company consolidates its controlling membership interest in STX
Wireless in accordance with the authoritative guidance for consolidations based on the voting interest model. All
intercompany accounts and transactions are eliminated in the consolidated financial statements.
The aggregate carrying amount and classification of the significant assets and liabilities of the Company’s
variable interest entities, excluding intercompany accounts and transactions, as of December 31, 2010 (with respect
to Savary Island) and December 31, 2009 (with respect to LCW Wireless and Denali), are presented in the following
table below (in thousands):
2010 2009
Year Ended
December 31,
Assets
Cash and cash equivalents .................................... $ 5,250 $ 14,099
Short-term investments ...................................... — 2,731
Inventories ............................................... — 5,029
Property and equipment, net................................... — 267,194
Wireless licenses ........................................... 156,055 333,910
Liabilities
Accounts payable and accrued liabilities .......................... $ — $ 6,850
Current maturities of long-term debt............................. — 8,000
Other current liabilities ...................................... — 18,803
Long-term debt ............................................ — 10,096
Other long-term liabilities ...................................... — 9,463
116
LEAP WIRELESS INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)