Cricket Wireless 2010 Annual Report Download - page 129
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Maturities of Long-Term Debt Obligations
The aggregate maturities of the Company’s long-term debt obligations, excluding the effects of discount
accretion on its $1,100 million of 7.75% senior secured notes due 2016 and its $1,200 million of 7.75% unsecured
senior notes due 2020, are as follows (in thousands):
Years Ended December 31:
2011 .............................................................. $ 8,500
2012 .............................................................. 8,500
2013 .............................................................. 8,500
2014 .............................................................. 258,500
2015 .............................................................. 311,500
Thereafter . . ........................................................ 2,300,000
$2,895,500
Note 10. Income Taxes
The components of the Company’s income tax provision are summarized as follows (in thousands):
2010 2009 2008
December 31,
Current provision:
Federal ........................................... $ — $ — $ —
State............................................. 3,250 2,445 2,660
3,250 2,445 2,660
Deferred provision:
Federal ........................................... 35,337 36,537 32,415
State............................................. 3,926 1,627 3,895
39,263 38,164 36,310
$42,513 $40,609 $38,970
A reconciliation of the amounts computed by applying the statutory federal income tax rate to income before
income taxes to the amounts recorded in the consolidated statements of operations is summarized as follows (in
thousands):
2010 2009 2008
December 31,
Amounts computed at statutory federal rate ............... $(259,890) $ (69,073) $(38,217)
Non-deductible expenses ............................. 716 865 2,474
State income tax expense, net of federal income tax impact . . . 6,019 3,218 5,603
Net tax expense related to ventures ..................... 18,352 1,384 2,375
Non-deductible goodwill impairment .................... 125,164 — —
Change in valuation allowance ......................... 152,152 104,215 66,735
$ 42,513 $ 40,609 $ 38,970
123
LEAP WIRELESS INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)