Metro PCS 2007 Annual Report Download - page 102

F-3
MetroPCS Communications, Inc. and Subsidiaries
Consolidated Balance Sheets
As of December 31, 2007 and 2006
(in thousands, except share and per share information)
2007 2006
CURRENT ASSETS:
Cash and cash equivalents ............................................................................................................ $ 1,470,208 $ 161,498
Short-term investments................................................................................................................. — 390,651
Restricted short-term investments................................................................................................. — 607
Inventories, net ............................................................................................................................. 109,139 92,915
Accounts receivable (net of allowance for uncollectible accounts of $2,908 and $1,950 at
December 31, 2007 and 2006, respectively)............................................................................... 31,809 28,140
Prepaid charges............................................................................................................................. 60,469 33,109
Deferred charges........................................................................................................................... 34,635 26,509
Deferred tax asset ......................................................................................................................... 4,920 815
Other current assets....................................................................................................................... 21,704 24,283
Total current assets ...................................................................................................................... 1,732,884 758,527
Property and equipment, net .......................................................................................................... 1,891,411 1,256,162
Long-term investments .................................................................................................................. 36,050 1,865
FCC licenses.................................................................................................................................. 2,072,895 2,072,885
Microwave relocation costs ........................................................................................................... 10,105 9,187
Other assets.................................................................................................................................... 62,785 54,496
Total assets .................................................................................................................................. $ 5,806,130 $ 4,153,122
CURRENT LIABILITIES:
Accounts payable and accrued expenses....................................................................................... $ 439,449 $ 325,681
Current maturities of long-term debt ............................................................................................ 16,000 16,000
Deferred revenue .......................................................................................................................... 120,481 90,501
Other current liabilities ................................................................................................................. 4,560 3,447
Total current liabilities................................................................................................................. 580,490 435,629
Long-term debt, net ....................................................................................................................... 2,986,177 2,580,000
Deferred tax liabilities ................................................................................................................... 290,128 177,197
Deferred rents ................................................................................................................................ 35,779 22,203
Redeemable minority interest ........................................................................................................ 5,032 4,029
Other long-term liabilities.............................................................................................................. 59,778 26,316
Total liabilities............................................................................................................................. 3,957,384 3,245,374
COMMITMENTS AND CONTINGENCIES (See Note 10)
SERIES D CUMULATIVE CONVERTIBLE REDEEMABLE PARTICIPATING
PREFERRED STOCK, par value $0.0001 per share, 4,000,000 shares designated at December
31, 2006, 0 and 3,500,993 shares issued and outstanding at December 31, 2007 and 2006,
respectively; Liquidation preference of $447,388 at December 31, 2006.................................... — 443,368
SERIES E CUMULATIVE CONVERTIBLE REDEEMABLE PARTICIPATING
PREFERRED STOCK, par value $0.0001 per share, 500,000 shares designated at December
31, 2006, 0 and 500,000 shares issued and outstanding at December 31, 2007 and 2006,
respectively; Liquidation preference of $54,019 at December 31, 2006...................................... — 51,135
STOCKHOLDERS’ EQUITY:
Preferred stock, par value $0.0001 per share, 100,000,000 shares authorized, 4,000,000 of
which were designated as Series D Preferred Stock and 500,000 of which were designated as
Series E Preferred Stock at December 31, 2006; no shares of preferred stock other than
Series D & E Preferred Stock (presented above) issued and outstanding at December 31, 2007
and 2006 ..................................................................................................................................... — —
Common stock, par value $0.0001 per share, 1,000,000,000 shares authorized, 348,108,027
and 157,052,097 shares issued and outstanding at December 31, 2007 and 2006, respectively . 35 16
Additional paid-in capital ............................................................................................................. 1,524,769 166,315
Retained earnings.......................................................................................................................... 338,411 245,690
Accumulated other comprehensive (loss) income......................................................................... (14,469
)
1,224
Total stockholders’ equity............................................................................................................ 1,848,746 413,245
Total liabilities and stockholders’ equity ..................................................................................... $ 5,806,130 $ 4,153,122
The accompanying notes are an integral part of these consolidated financial statements.