Metro PCS 2008 Annual Report Download - page 139

MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2008, 2007 and 2006
F-37
Consolidated Balance Sheet
As of December 31, 2008
Parent Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
(in thousands)
CURRENT ASSETS:
Cash and cash equivalents............ $ 598,823 $ 78,121 $ 624 $ 20,380 $ — $ 697,948
Inventories, net ............................. — 144,784 11,171 — — 155,955
Accounts receivable, net .............. — 34,579 — 87 — 34,666
Prepaid charges ............................ — 17,994 32,274 6,079 — 56,347
Deferred charges .......................... — 49,716 — — — 49,716
Deferred tax asset ......................... — 1,832 — — — 1,832
Current receivable from
subsidiaries................................. — 244,212 — 10,467 (254,679) —
Other current assets ...................... 426 4,472 41,945 577 — 47,420
Total current assets....................... 599,249 575,710 86,014 37,590 (254,679) 1,043,884
Property and equipment, net........... — 18,174 2,430,597 398,980 — 2,847,751
Restricted cash and investments .. — — 4,250 325 — 4,575
Long-term investments................. 5,986 — — — — 5,986
Investment in subsidiaries ............ 610,581 1,760,327 — — (2,370,908) —
FCC licenses................................. — — 2,112,997 293,599 — 2,406,596
Microwave relocation costs.......... — — 16,478 — — 16,478
Long-term receivable from
subsidiaries................................. 250,000 796,462 — — (1,046,462) —
Other assets................................... — 37,391 34,544 24,943 — 96,878
Total assets ................................... $ 1,465,816 $ 3,188,064 $ 4,684,880 $ 755,437 $ (3,672,049) $ 6,422,148
CURRENT LIABILITIES:
Accounts payable and accrued
expenses ..................................... $ — $ 195,619 $ 344,325 $ 28,488 $ — $ 568,432
Current maturities of long-term
debt............................................. — 16,000 990 19 — 17,009
Current payable to subsidiaries .... — — 10,467 244,212 (254,679) —
Deferred revenue.......................... — 30,011 121,768 — — 151,779
Advances to subsidiaries .............. (568,507) (1,365,057) 1,933,564 — — —
Other current liabilities ................ — 30 5,106 — — 5,136
Total current liabilities ................. (568,507) (1,123,397) 2,416,220 272,719 (254,679) 742,356
Long-term debt............................. — 2,967,649 88,906 1,428 — 3,057,983
Long-term payable to
subsidiaries................................. — 250,000 — 796,462 (1,046,462) —
Deferred tax liabilities.................. — 389,509 — — — 389,509
Deferred rents ............................... — — 49,850 6,575 — 56,425
Redeemable minority interest ...... — 6,290 — — — 6,290
Other long-term liabilities ............ — 87,432 41,377 6,453 — 135,262
Total liabilities.............................. (568,507) 2,577,483 2,596,353 1,083,637 (1,301,141) 4,387,825
COMMITMENTS AND
CONTINGENCIES (See Note
12)
STOCKHOLDERS’ EQUITY:
Preferred stock.............................. — — — — — —
Common stock.............................. 35 — — — — 35
Additional paid-in capital............. 1,578,972 — — 20,000 (20,000) 1,578,972
Retained earnings (deficit) ........... 487,849 643,955 2,088,527 (348,200) (2,384,282) 487,849
Accumulated other
comprehensive (loss) income .... (32,533) (33,374) — — 33,374 (32,533)
Total stockholders’ equity............ 2,034,323 610,581 2,088,527 (328,200) (2,370,908) 2,034,323
Total liabilities and
stockholders’ equity................... $ 1,465,816 $ 3,188,064 $ 4,684,880 $ 755,437 $ (3,672,049) $ 6,422,148