Metro PCS 2010 Annual Report Download - page 73

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Item 6. Selected Financial Data
The following tables set forth selected consolidated financial data. We derived our selected consolidated financial
data as of and for the years ended December 31, 2010, 2009, 2008, 2007 and 2006 from our consolidated financial
statements. The historical selected financial data may not be indicative of future performance and should be read in
conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and
“Risk Factors” in this report.
Year Ended December 31,
2010 2009 2008 2007 2006
(In Thousands, Except Share and Per Share Data)
Statement of O
p
erations Data:
Revenues:
Service revenues ....................................................................................................... $ 3,689,695 $ 3,130,385 $ 2,437,250 $ 1,919,197 $ 1,290,947
Equipment revenues ................................................................................................. 379,658 350,130 314,266 316,537 255,916
Total revenues ......................................................................................................... 4,069,353 3,480,515 2,751,516 2,235,734 1,546,863
Operating expenses:
Cost of service (excluding depreciation and amortization disclosed separately
b
elow) .................................................................................................................... 1,223,931 1,120,052 857,295 647,510 445,281
Cost of equipment .................................................................................................... 1,093,944 884,272 704,648 597,233 476,877
Selling, general and administrative expenses (excluding depreciation and
amortization disclosed separately
b
elow) .............................................................. 621,660 567,730 447,582 352,020 243,618
Depreciation and amortization ................................................................................. 449,732 377,856 255,319 178,202 135,028
(Gain) loss on disposal of assets .............................................................................. (38,812) (4,683) 18,905 655 8,806
Total operating expenses ......................................................................................... 3,350,455 2,945,227 2,283,749 1,775,620 1,309,610
Income from operations............................................................................................. 718,898 535,288 467,767 460,114 237,253
Other expense (income):
Interest expense ........................................................................................................ 263,125 270,285 179,398 201,746 115,985
Interest income ......................................................................................................... (1,954) (2,870) (22,947) (63,933) (21,499)
Other expense, net .................................................................................................... 1,807 1,808 1,035 1,000 726
Loss on extinguishment of deb
t
............................................................................... 143,626 — — — 51,518
Impairment loss on investment securities ................................................................
—
2,386 30,857 97,800
—
Total other expense ................................................................................................. 406,604 271,609 188,343 236,613 146,730
Income before provision for income taxes ................................................................ 312,294 263,679 279,424 223,501 90,523
Provision for income taxes ........................................................................................ (118,879) (86,835) (129,986) (123,098) (36,717)
Net income ................................................................................................................. 193,415 176,844 149,438 100,403 53,806
Accrued dividends on Series D Preferred Stoc
k
.......................................................
—
—
—
(6,499) (21,006)
Accrued dividends on Series E Preferred Stoc
k
.......................................................
—
—
—
(929) (3,000)
Accretion on Series D Preferred Stoc
k
.....................................................................
—
—
—
(148) (473)
Accretion on Series E Preferred Stoc
k
......................................................................
—
—
—
(106) (339)
Net income applicable to Common Stoc
k
................................................................. $ 193,415 $ 176,844 $ 149,438 $ 92,721 $ 28,988
Net income per common share(1):
Net income per common share -
b
asic .................................................................. $ 0.54 $ 0.50 $ 0.43 $ 0.29 $ 0.11
Net income per common share - diluted ............................................................... $ 0.54 $ 0.49 $ 0.42 $ 0.28 $ 0.10
Weighted average shares(1):
Basic ...................................................................................................................... 353,711,045 351,898,898 349,395,285 287,692,280 155,820,381
Diluted ................................................................................................................... 356,135,089 355,942,921 355,380,111 296,337,724 159,696,608
Year Ended December 31,
2010 2009 2008 2007 2006
(In Thousands)
Other Financial Data:
Net cash provided by operating activities ................................................................. $ 994,500 $ 899,349 $ 447,490 $ 589,306 $ 364,761
Net cash used in investing activities ......................................................................... (950,418) (1,116,954) (1,294,275) (517,088) (1,939,665)
Net cash (used in) provided by financing activities .................................................. (176,932) 449,038 74,525 1,236,492 1,623,693
As of December 31,
2010 2009 2008 2007 2006
(In Thousands)
Balance Sheet Data:
Cash, cash equivalents & shor
t
-term investments .................................................... $ 1,171,393 $ 1,154,313 $ 697,951 $ 1,470,208 $ 552,149
Property and equipment, net ...................................................................................... 3,659,445 3,252,213 2,847,751 1,891,411 1,256,162
Total assets ................................................................................................................ 7,918,580 7,386,017 6,422,148 5,806,130 4,153,122
Long-term debt (including current maturities).......................................................... 3,779,283 3,645,275 3,074,992 3,002,177 2,596,000
Series D Cumulative Convertible Redeemable Participating Preferred Stoc
k
.........
—
—
—
—
443,368
Series E Cumulative Convertible Redeemable Participating Preferred Stoc
k
.........
—
—
—
—
51,135
Stockholders’ equity .................................................................................................. 2,541,576 2,288,142 2,034,323 1,848,746 413,245
_________________________________________
(1)See Note 15 to the consolidated financial statements included elsewhere in this report for an explanation of the calculation of basic and diluted net income per common share. The
calculation of basic and diluted net income per common share for the years ended December 31, 2006 and 2007 is not included in Note 15 to the consolidated financial statements.