Metro PCS 2009 Annual Report Download - page 154
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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2009, 2008 and 2007
F-40
Consolidated Statement of Income
Year Ended December 31, 2007
Parent Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
(in thousands)
REVENUES:
Service revenues................................... $ — $ 3,219 $ 1,919,067 $ 24,508 $ (27,597) $ 1,919,197
Equipment revenues............................. — 10,675 305,862 — — 316,537
Total revenues ..................................... — 13,894 2,224,929 24,508 (27,597) 2,235,734
OPERATING EXPENSES:
Cost of service (excluding
depreciation and amortization
expense shown separately
below) ................................................ — — 620,032 55,075 (27,597) 647,510
Cost of equipment ................................ — 10,226 587,007 — — 597,233
Selling, general and administrative
expenses (excluding depreciation
and amortization expense shown
separately below)............................... — 449 332,691 18,880 — 352,020
Depreciation and amortization............. — 55 169,452 8,695 — 178,202
Loss on disposal of assets .................... — — 655 — — 655
Total operating expenses..................... — 10,730 1,709,837 82,650 (27,597) 1,775,620
Income (loss) from operations .............. — 3,164 515,092 (58,142) — 460,114
OTHER EXPENSE (INCOME):
Interest expense.................................... — 234,711 (16,639) 52,506 (68,832) 201,746
Earnings from consolidated
subsidiaries ........................................ (166,009) (423,701) — — 589,710 —
Accretion of put option in majority-
owned subsidiary ............................... — 1,003 — — — 1,003
Interest and other income..................... (32,194) (97,956) (28) (2,590) 68,832 (63,936)
Impairment loss on investment
securities ............................................ 97,800 — — — — 97,800
Total other (income) expense ............. (100,403) (285,943) (16,667) 49,916 589,710 236,613
Income (loss) before provision for
income taxes ....................................... 100,403 289,107 531,759 (108,058) (589,710) 223,501
Provision for income taxes................... — (123,098) — — — (123,098)
Net income (loss) .................................. $ 100,403 $ 166,009 $ 531,759 $ (108,058) $ (589,710) $ 100,403