Cricket Wireless 2010 Annual Report Download - page 123

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Values of Redeemable Non-controlling Interests
The following table provides a summary of the changes in the values of the Company’s redeemable non-
controlling interests (in thousands):
2010 2009 2008
Year Ended December 31,
Beginning balance ................................... $ 71,632 $71,879 $61,868
Purchases of membership units of non-controlling interests . . . (123,163) — —
Non-controlling interest contributions ................... 43,902 — 1,423
Accretion of redeemable non-controlling interests, before tax . . 108,030 (247) 8,588
Other........................................... 4,387 — —
Ending balance ...................................... $104,788 $71,632 $71,879
Note 9. Long-Term Debt
Long-term debt as of December 31, 2010 and 2009 was comprised of the following (in thousands):
2010 2009
As of December 31,
Unsecured senior notes due 2014 and 2015....................... $ 300,000 $1,400,000
Unamortized premium on $350 million unsecured senior notes due
2014 ................................................. — 15,111
Senior secured notes due 2016 ................................ 1,100,000 1,100,000
Unamortized discount on $1,100 million senior secured notes due 2016. . (34,962) (39,889)
Convertible senior notes due 2014 ............................. 250,000 250,000
Unsecured senior notes due 2020 .............................. 1,200,000 —
Unamortized discount on $1,200 million unsecured senior notes due
2020 ................................................. (19,968) —
Non-negotiable promissory note due 2015 ....................... 45,500 —
Term loans under LCW senior secured credit agreement ............. — 18,096
2,840,570 2,743,318
Current maturities of long-term debt ............................ (8,500) (8,000)
$2,832,070 $2,735,318
Senior Notes
Discharge of Indenture and Loss on Extinguishment of Debt
On November 4, 2010, the Company launched a tender offer to purchase, for cash, any and all of its
$1,100 million in aggregate principal amount of outstanding 9.375% senior notes due 2014. Concurrently with the
tender offer, the Company also solicited consents from the holders of the notes to eliminate certain covenants in and
amend certain provisions of the indenture governing the notes. The Company accepted tenders on November 19,
2010 and December 6, 2010 for approximately $915.8 million in aggregate principal amount of the notes in
connection with the tender offer. The holders of the accepted notes received total consideration of $1,050.63 per
$1,000 principal amount of notes tendered prior to the early settlement date, which included a $20 consent payment
per $1,000 principal amount of notes tendered, and $1,030.63 per $1,000 principal amount of notes tendered
thereafter. The total cash payment to purchase the tendered notes, including accrued and unpaid interest up to, but
117
LEAP WIRELESS INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)