Metro PCS 2009 Annual Report Download - page 153

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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2009, 2008 and 2007
F-39
Consolidated Statement of Income
Year Ended December 31, 2008
Parent Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
(in thousands)
REVENUES:
Service revenues............................................ $ — $ — $ 2,441,374 $ 98,179 $ (102,303) $ 2,437,250
Equipment revenues ...................................... — 11,977 302,289 — — 314,266
Total revenues ..................................... — 11,977 2,743,663 98,179 (102,303) 2,751,516
OPERATING EXPENSES:
Cost of service (excluding
depreciation and amortization
expense shown separately below).......... — — 869,063 90,535 (102,303) 857,295
Cost of equipment ......................................... — 11,292 693,356 — — 704,648
Selling, general and administrative
expenses (excluding depreciation and
amortization expense shown separately
below) ......................................................... — 684 425,889 21,009 — 447,582
Depreciation and amortization ...................... — 212 215,624 39,483 — 255,319
Loss on disposal of assets ............................. — — 18,889 16 — 18,905
Total operating expenses ..................... — 12,188 2,222,821 151,043 (102,303) 2,283,749
Income (loss) from operations ...................... — (211) 520,842 (52,864) — 467,767
OTHER EXPENSE (INCOME):
Interest expense ............................................. — 219,530 (32,665) 102,931 (110,398) 179,398
Earnings from consolidated subsidiaries ...... (158,083) (397,617) — — 555,700 —
Accretion of put option in majority-
owned subsidiary ........................................ — 1,258 — — — 1,258
Interest and other income .............................. (22,212) (110,796) 80 (640) 110,398 (23,170)
Impairment loss on investment securities..... 30,857 — — — — 30,857
Total other (income) expense .............. (149,438) (287,625) (32,585) 102,291 555,700 188,343
Income (loss) before provision for
income taxes ............................................... 149,438 287,414 553,427 (155,155) (555,700) 279,424
Provision for income taxes............................ — (129,331) (655) — — (129,986)
Net income (loss) .......................................... $ 149,438 $ 158,083 $ 552,772 $ (155,155) $ (555,700) $ 149,438