Metro PCS 2009 Annual Report Download - page 152

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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2009, 2008 and 2007
F-38
Consolidated Statement of Income
Year Ended December 31, 2009
Parent Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
(in thousands)
REVENUES:
Service revenues...................................
.
$ — $ — $ 3,134,427 $ 160,550 $ (164,592) $ 3,130,385
Equipment revenues .............................
.
—16,409 333,721 — — 350,130
Total revenues.............................
.
— 16,409 3,468,148 160,550 (164,592) 3,480,515
OPERATING EXPENSES:
Cost of service (excluding
depreciation and amortization
expense shown separately
below)............................................
.
— — 1,177,473 107,171 (164,592) 1,120,052
Cost of equipment.................................
.
— 15,336 868,936 — — 884,272
Selling, general and administrative
expenses (excluding depreciation
and amortization expense shown
separately below) ...............................
.
— 1,074 545,310 21,346 — 567,730
Depreciation and amortization .............
.
— 228 325,589 52,039 — 377,856
(Gain) loss on disposal of assets ..........
.
— — (4,884) 201 —(4,683)
Total operating expenses ............
.
—16,638 2,912,424 180,757 (164,592) 2,945,227
(Loss) income from operations ............
.
— (229) 555,724 (20,207) — 535,288
OTHER EXPENSE (INCOME):
Interest expense ....................................
.
— 270,662 3,408 131,631 (135,416) 270,285
Intercompany expense..........................
.
— — 772 — (772) —
Earnings from consolidated
subsidiaries.........................................
.
(174,388) (402,358) — — 576,746 —
Accretion of put option in
majority-owned subsidiary ................
.
— 1,567 — — — 1,567
Interest and other income .....................
.
(4,842) (133,079) (113) (11) 135,416 (2,629)
Intercompany income ...........................
.
— — — (772) 772 —
Impairment loss on investment
securities.............................................
.
2,386 — — ——2,386
Total other (income) expense .....
.
(176,844) (263,208) 4,067 130,848 576,746 271,609
Income (loss) before provision for
income taxes.......................................
.
176,844 262,979 551,657 (151,055) (576,746) 263,679
Provision for income taxes ...................
.
—(88,591) 1,756 — — (86,835)
Net income (loss) $ 176,844 $ 174,388 $ 553,413 $ (151,055) $ (576,746) $ 176,844