Metro PCS 2007 Annual Report Download - page 142

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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2007, 2006 and 2005
F-43
Consolidated Statement of Income
Year Ended December 31, 2006
Parent
Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Eliminations
Consolidated
(In thousands)
REVENUES:
Service revenues............................... $ — $ 695 $ 1,290,945 $ 1,005 $ (1,698) $ 1,290,947
Equipment revenues......................... — 11,900 244,016 — — 255,916
Total revenues ................................. — 12,595 1,534,961 1,005 (1,698) 1,546,863
OPERATING EXPENSES:
Cost of service (excluding
depreciation and amortization
expense shown separately
below) ............................................ — — 434,987 11,992 (1,698) 445,281
Cost of equipment ............................ — 11,538 465,339 — — 476,877
Selling, general and administrative
expenses (excluding depreciation
and amortization expense shown
separately below)........................... — 362 227,723 15,533 — 243,618
Depreciation and amortization......... — — 134,708 320 — 135,028
Loss on disposal of assets ................ — — 8,806 — — 8,806
Total operating expenses................. — 11,900 1,271,563 27,845 (1,698) 1,309,610
Income from operations .................... — 695 263,398 (26,480) — 237,253
OTHER EXPENSE (INCOME):
Interest expense................................ 17,161 115,575 (7,370) 30,956 (40,337) 115,985
Earnings from consolidated
subsidiaries .................................... (77,506) (214,795) — — 292,301 —
Accretion of put option in majority-
owned subsidiary ........................... — 770 — — — 770
Interest and other income................. (2,807) (57,493) (699) (882) 40,338 (21,543)
Loss (gain) on extinguishment of
debt ................................................ 9,345 42,415 (242) — — 51,518
Total other expense ......................... (53,807) (113,528) (8,311) 30,074 292,302 146,730
Income before provision for income
taxes ................................................ 53,807 114,223 271,709 (56,914) (292,302) 90,523
Provision for income taxes............... — (36,717) — — — (36,717)
Net income (loss) .............................. $ 53,807 $ 77,506 $ 271,709 $ (56,914) $ (292,302) $ 53,806