Metro PCS 2007 Annual Report Download - page 140

MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2007, 2006 and 2005
F-41
Consolidated Balance Sheet
As of December 31, 2006
Parent
Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations
Consolidated
(In thousands)
CURRENT ASSETS:
Cash and cash equivalents................. $ 15,714 $ 99,301 $ 257 $ 46,226 $ — $ 161,498
Short-term investments ..................... 45,365 345,286 — — — 390,651
Restricted short-term investments..... — 556 — 51 — 607
Inventories, net .................................. — 81,339 11,576 — — 92,915
Accounts receivable, net ................... — 29,348 — 1,005 (2,213) 28,140
Prepaid charges ................................. — 8,107 23,865 1,137 — 33,109
Deferred charges ............................... — 26,509 — — — 26,509
Deferred tax asset .............................. — 815 — — — 815
Current receivable from
subsidiaries...................................... — 4,734 — — (4,734) —
Other current assets ........................... 97 9,478 15,354 120 (766) 24,283
Total current assets........................... 61,176 605,473 51,052 48,539 (7,713) 758,527
Property and equipment, net ............. — 14,077 1,158,442 83,643 — 1,256,162
Long-term investments...................... — 1,865 — — — 1,865
Investment in subsidiaries................. 320,783 939,009 — — (1,259,792) —
FCC licenses...................................... 1,391,410 — 387,876 293,599 — 2,072,885
Microwave relocation costs............... — — 9,187 — — 9,187
Long-term receivable from
subsidiaries...................................... — 456,070 — — (456,070) —
Other assets........................................ 399 51,477 4,078 5,810 (7,268) 54,496
Total assets ....................................... $ 1,773,768 $ 2,067,971 $ 1,610,635 $ 431,591 $ (1,730,843) $ 4,153,122
CURRENT LIABILITIES:
Accounts payable and accrued
expenses .......................................... $ 401 $ 138,953 $ 161,663 $ 29,614 $ (4,950) $ 325,681
Current maturities of long-term
debt.................................................. — 16,000 — 4,734 (4,734) 16,000
Deferred revenue............................... — 19,030 71,471 — — 90,501
Advances to subsidiaries ................... 865,612 (1,207,821) 341,950 — 259 —
Other current liabilities ..................... — 31 3,416 757 (757) 3,447
Total current liabilities ..................... 866,013 (1,033,807) 578,500 35,105 (10,182) 435,629
Long-term debt.................................. — 2,580,000 — 4,540 (4,540) 2,580,000
Long-term note to parent................... — — — 456,070 (456,070) —
Deferred tax liabilities....................... 7 177,190 — — — 177,197
Deferred rents.................................... — — 21,784 419 — 22,203
Redeemable minority interest ........... — 4,029 — — — 4,029
Other long-term liabilities ................. — 19,517 6,285 514 — 26,316
Total liabilities ................................. 866,020 1,746,929 606,569 496,648 (470,792) 3,245,374
COMMITMENTS AND
CONTINGENCIES (See
Note 10)
SERIES D PREFERRED STOCK ..... 443,368 — — — — 443,368
SERIES E PREFERRED STOCK ..... 51,135 — — — — 51,135
STOCKHOLDERS’ EQUITY:
Preferred stock................................... — — — — — —
Common stock................................... 16 — — — — 16
Additional paid-in capital.................. 166,315 — — 20,000 (20,000) 166,315
Retained earnings (deficit) ................ 245,690 319,863 1,004,066 (85,057) (1,238,872) 245,690
Accumulated other comprehensive
income............................................. 1,224 1,179 — — (1,179) 1,224
Total stockholders’ equity................ 413,245 321,042 1,004,066 (65,057) (1,260,051) 413,245
Total liabilities and stockholders’
equity ............................................. $ 1,773,768 $ 2,067,971 $ 1,610,635 $ 431,591 $ (1,730,843) $ 4,153,122