Metro PCS 2008 Annual Report Download - page 105

F-3
MetroPCS Communications, Inc. and Subsidiaries
Consolidated Balance Sheets
As of December 31, 2008 and 2007
(in thousands, except share and per share information)
2008 2007
CURRENT ASSETS:
Cash and cash equivalents ......................................................................................................... $ 697,948 $ 1,470,208
Inventories, net .......................................................................................................................... 155,955 109,139
Accounts receivable (net of allowance for uncollectible accounts of $4,106 and $2,908 at
December 31, 2008 and 2007, respectively)............................................................................ 34,666 31,809
Prepaid charges.......................................................................................................................... 56,347 60,469
Deferred charges........................................................................................................................ 49,716 34,635
Deferred tax assets..................................................................................................................... 1,832 4,920
Other current assets ................................................................................................................... 47,420 21,704
Total current assets................................................................................................................ 1,043,884 1,732,884
Property and equipment, net .......................................................................................................... 2,847,751 1,891,411
Restricted cash and investments .................................................................................................... 4,575 320
Long-term investments .................................................................................................................. 5,986 36,050
FCC licenses.................................................................................................................................. 2,406,596 2,072,895
Microwave relocation costs ........................................................................................................... 16,478 10,105
Other assets.................................................................................................................................... 96,878 62,465
Total assets ................................................................................................................... $ 6,422,148 $ 5,806,130
CURRENT LIABILITIES:
Accounts payable and accrued expenses ................................................................................... $ 568,432 $ 439,449
Current maturities of long-term debt ......................................................................................... 17,009 16,000
Deferred revenue ....................................................................................................................... 151,779 120,481
Other current liabilities.............................................................................................................. 5,136 4,560
Total current liabilities .......................................................................................................... 742,356 580,490
Long-term debt, net ....................................................................................................................... 3,057,983 2,986,177
Deferred tax liabilities ................................................................................................................... 389,509 290,128
Deferred rents ................................................................................................................................ 56,425 35,779
Redeemable minority interest ........................................................................................................ 6,290 5,032
Other long-term liabilities.............................................................................................................. 135,262 59,778
Total liabilities.............................................................................................................. 4,387,825 3,957,384
COMMITMENTS AND CONTINGENCIES (See Note 12)
STOCKHOLDERS’ EQUITY:
Preferred stock, par value $0.0001 per share, 100,000,000 shares authorized; no shares of
preferred stock issued and outstanding at December 31, 2008 and 2007 ................................ — —
Common Stock, par value $0.0001 per share, 1,000,000,000 shares authorized, 350,918,272
and 348,108,027 shares issued and outstanding at December 31, 2008 and 2007,
respectively ............................................................................................................................. 35 35
Additional paid-in capital .......................................................................................................... 1,578,972 1,524,769
Retained earnings ...................................................................................................................... 487,849 338,411
Accumulated other comprehensive loss..................................................................................... (32,533) (14,469)
Total stockholders’ equity ..................................................................................................... 2,034,323 1,848,746
Total liabilities and stockholders’ equity............................................................................... $ 6,422,148 $ 5,806,130
The accompanying notes are an integral part of these consolidated financial statements.