Cricket Wireless 2011 Annual Report Download - page 100

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LEAP WIRELESS INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended December 31,
2011 2010 2009
Operating activities:
Net loss ................................................. $(317,677) $ (785,055) $ (237,963)
Adjustments to reconcile net loss to net cash provided by operating
activities:
Share-based compensation expense ......................... 15,328 36,609 42,713
Depreciation and amortization ............................. 548,426 457,035 410,697
Accretion of asset retirement obligations ..................... 3,061 2,503 1,888
Non-cash interest items, net ............................... 13,178 11,446 8,357
Non-cash loss on extinguishment of debt ..................... — (2,040) 8,805
Deferred income tax expense .............................. 35,316 39,263 38,164
Impairments and other charges ............................. 22,423 477,327 639
(Gain) loss on sale, exchange or disposal of assets, net .......... (2,732) 5,061 418
Equity in net (income) loss of investees, net of cash dividend ..... 3,628 (1,912) (3,946)
Changes in assets and liabilities:
Inventories and deferred charges .......................... (23,352) (2,469) (20,491)
Other assets .......................................... (40,970) (16,791) (18,759)
Accounts payable and accrued liabilities ................... 87,668 63,120 5,674
Other liabilities ....................................... 43,212 28,181 48,121
Net cash provided by operating activities ................... $387,509 $ 312,278 $ 284,317
Investing activities:
Acquisition of a business .................................... (850) (40,730) —
Purchases of property and equipment .......................... (441,656) (398,894) (699,525)
Change in prepayments for purchases of property and equipment .... (9,944) 1,412 5,691
Purchases of wireless licenses and spectrum clearing costs ......... (4,880) (13,319) (35,356)
Proceeds from sales of wireless licenses and operating assets ....... 5,070 — 2,965
Purchases of investments .................................... (826,233) (488,450) (883,173)
Sales and maturities of investments ........................... 487,860 816,247 733,268
Purchase of membership units of equity investment ............... — (967) —
Dividend received from equity investee ........................ 11,606 — —
Change in restricted cash .................................... (948) 749 338
Net cash used in investing activities ....................... (779,975) (123,952) (875,792)
Financing activities:
Proceeds from issuance of long-term debt ...................... 396,772 1,179,876 1,057,474
Repayment of long-term debt ................................ (23,589) (1,118,096) (897,904)
Payment of debt issuance costs ............................... (7,269) (1,308) (16,200)
Purchase of non-controlling interest ........................... — (77,664) —
Non-controlling interest contribution .......................... — 5,100 —
Proceeds from issuance of common stock, net ................... 1,346 1,535 267,105
Proceeds from sale lease-back financing ........................ 25,815 — —
Other ................................................... (6,156) (1,978) (1,709)
Net cash provided by (used in) financing activities ........... 386,919 (12,535) 408,766
Net increase (decrease) in cash and cash equivalents ................ (5,547) 175,791 (182,709)
Cash and cash equivalents at beginning of period ................... 350,790 174,999 357,708
Cash and cash equivalents at end of period ........................ $345,243 $ 350,790 $ 174,999
See accompanying notes to consolidated financial statements.
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