Metro PCS 2009 Annual Report Download - page 156

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MetroPCS Communications, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
December 31, 2009, 2008 and 2007
F-42
Consolidated Statement of Cash Flows
Year Ended December 31, 2008
Parent Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
(in thousands)
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income (loss).................................................................
.
$ 149,438 $ 158,083 $ 552,772 $ (155,155) $ (555,700) $ 149,438
Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:
Depreciation and amortization ............................................
.
— 212 215,624 39,483 — 255,319
Provision for uncollectible accounts receivable..................
.
— 8 — — — 8
Deferred rent expense..........................................................
.
— — 16,910 3,736 — 20,646
Cost of abandoned cell sites ................................................
.
— — 4,558 4,034 — 8,592
Stock-based compensation expense ....................................
.
— — 41,142 — — 41,142
Non-cash interest expense...................................................
.
— 2,605 (50) 24,878 (24,883) 2,550
Loss on disposal of assets....................................................
.
— — 18,889 16 — 18,905
Accretion of asset retirement obligation .............................
.
— — 2,942 600 — 3,542
Accretion of put option in majority-owned subsidiary .......
.
— 1,258 — — — 1,258
Impairment loss in investment securities ............................
.
30,857 — — — — 30,857
Deferred income taxes.........................................................
.
— 124,347 — — — 124,347
Changes in assets and liabilities ..........................................
.
(395,563) (582,147) 12,265 (4,317) 760,648 (209,114)
Net cash (used in) provided by operating activities............
.
(215,268) (295,634) 865,052 (86,725) 180,065 447,490
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment .................................
.
— 15,269 (858,004) (109,196) (2,681) (954,612)
Change in prepaid purchases of property and equipment...
.
— 19,225 (3,580) — — 15,645
Proceeds from sale of property and equipment...................
.
— — 642 214 — 856
Proceeds from sale and maturity of investments ................
.
37 — — — — 37
Cash used in business acquisitions......................................
.
— (25,162) — — — (25,162)
Purchases of and deposits for FCC licenses........................
.
— (328,519) — — — (328,519)
Microwave relocation costs.................................................
.
— — (2,520) — — (2,520)
Net cash provided by (used in) investing activities ............
.
37 (319,187) (863,462) (108,982) (2,681) (1,294,275)
CASH FLOWS FROM FINANCING ACTIVITIES:
Change in book overdraft ....................................................
.
— 75,665 — 3,688 — 79,353
Proceeds from long-term note to parent..............................
.
— — — 380,000 (380,000) —
Repayment of debt...............................................................
.
— (16,000) — (190,930) 190,930 (16,000)
Payments on capital lease obligations.................................
.
— — (1,410) (11,686) 11,686 (1,410)
Proceeds from exercise of stock options.............................
.
12,582 — — — — 12,582
Net cash provided by (used in) financing activities............
.
12,582 59,665 (1,410) 181,072 (177,384) 74,525
(DECREASE) INCREASE IN CASH AND CASH
EQUIVALENTS..............................................................
.
(202,649) (555,156) 180 (14,635) — (772,260)
CASH AND CASH EQUIVALENTS, beginning of
period ................................................................................
.
801,472 633,277 444 35,015 — 1,470,208
CASH AND CASH EQUIVALENTS, end of period.....
.
$ 598,823 $ 78,121 $ 624 $ 20,380 $ — $ 697,948