Metro PCS 2008 Annual Report Download - page 140

MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2008, 2007 and 2006
F-38
Consolidated Balance Sheet
As of December 31, 2007
Parent Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
(In thousands)
CURRENT ASSETS:
Cash and cash equivalents................. $ 801,472 $ 633,277 $ 444 $ 35,015 $ — $ 1,470,208
Inventories, net .................................. — 101,904 7,235 — — 109,139
Accounts receivable, net ................... — 31,790 — 19 — 31,809
Prepaid charges ................................. — 10,485 46,105 3,879 — 60,469
Deferred charges ............................... — 34,635 — — — 34,635
Deferred tax asset .............................. — 4,920 — — — 4,920
Current receivable from
subsidiaries...................................... — 154,758 — — (154,758) —
Other current assets ........................... 2,369 3,024 16,129 182 — 21,704
Total current assets........................... 803,841 974,793 69,913 39,095 (154,758) 1,732,884
Property and equipment, net ............. — 44,636 1,546,647 300,128 — 1,891,411
Long-term investments...................... 36,050 — — — — 36,050
Investment in subsidiaries ................. 471,392 1,362,710 — — (1,834,102) —
FCC licenses...................................... — — 1,779,296 293,599 — 2,072,895
Microwave relocation costs............... — — 10,105 — — 10,105
Long-term receivable from
subsidiaries...................................... — 618,191 — — (618,191) —
Other assets........................................ — 42,524 6,442 13,819 — 62,785
Total assets ....................................... $ 1,311,283 $ 3,042,854 $ 3,412,403 $ 646,641 $ (2,607,051) $ 5,806,130
CURRENT LIABILITIES:
Accounts payable and accrued
expenses .......................................... $ 77 $ 154,205 $ 244,913 $ 40,254 $ — $ 439,449
Current maturities of long-term
debt.................................................. — 16,000 — 154,758 (154,758) 16,000
Deferred revenue............................... — 24,369 96,112 — — 120,481
Advances to subsidiaries................... (537,540) (949,296) 1,486,836 — — —
Other current liabilities ..................... — 124 4,211 225 — 4,560
Total current liabilities ..................... (537,463) (754,598) 1,832,072 195,237 (154,758) 580,490
Long-term debt.................................. — 2,986,177 — — — 2,986,177
Long-term note to parent................... — — — 618,191 (618,191) —
Deferred tax liabilities....................... — 290,128 — — — 290,128
Deferred rents .................................... — — 32,939 2,840 — 35,779
Redeemable minority interest ........... — 5,032 — — — 5,032
Other long-term liabilities ................. — 44,723 11,637 3,418 — 59,778
Total liabilities ................................. (537,463) 2,571,462 1,876,648 819,686 (772,949) 3,957,384
COMMITMENTS AND
CONTINGENCIES (See
Note 12)
SERIES D PREFERRED STOCK ..... — — — — — —
SERIES E PREFERRED STOCK ..... — — — — — —
STOCKHOLDERS’ EQUITY:
Preferred stock................................... — — — — — —
Common stock................................... 35 — — — — 35
Additional paid-in capital.................. 1,524,769 — — 20,000 (20,000) 1,524,769
Retained earnings (deficit) ................ 338,411 485,871 1,535,755 (193,045) (1,828,581) 338,411
Accumulated other comprehensive
loss .................................................. (14,469) (14,479) — — 14,479 (14,469)
Total stockholders’ equity................ 1,848,746 471,392 1,535,755 (173,045) (1,834,102) 1,848,746
Total liabilities and stockholders’
equity ............................................. $ 1,311,283 $ 3,042,854 $ 3,412,403 $ 646,641 $ (2,607,051) $ 5,806,130