Clearwire 2009 Annual Report Download - page 131

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(1) Fourth quarter operating loss includes a non-recurring charge of approximately
$
80.6 million related to the
s
ett
l
ement o
f
spectrum
l
ease contracts.
(2) Clearwire Cor
p
oration was formed on November 28, 2008; therefore net loss attributable to Clearwire
Cor
p
oration was not a
pp
licable for the first three
q
uarters of 2008
.
20. Parent Company Only Condensed Financial Statement
s
Un
d
er t
h
e terms o
f
a
g
reements
g
overn
i
n
g
t
h
e
i
n
d
e
b
te
d
ness o
f
C
l
earw
i
re Commun
i
cat
i
ons, a su
b
s
idi
ar
y
o
f
Clearwire, such subsidiar
y
is si
g
nificantl
y
restricted from makin
g
dividend pa
y
ments, loans or advances t
o
Clearwire. The restrictions have resulted in the restricted net assets (as defined in Securities and Exchan
ge
Commission Rule 4-08(e)(3) of Regulation S-X) of Clearwire’s subsidiary exceeding 25% of the consolidated ne
t
assets of Clearwire and its subsidiaries
.
T
he followin
g
condensed parent-onl
y
financial statements of Clearwire account for the investment in
Clearwire Communications under the equity method of accounting. The financial statements should be read in
c
on
j
unct
i
on w
i
t
h
t
h
e conso
lid
ate
dfi
nanc
i
a
l
statements o
f
C
l
earw
i
re an
d
su
b
s
idi
ar
i
es an
d
notes t
h
ereto. A
s
d
escr
ib
e
di
n Note 1 — Descr
ip
t
i
on o
f
Bus
i
ness, C
l
earw
i
re was
f
orme
d
Novem
b
er 28, 2008 an
d
t
h
ere
f
ore, t
h
e
c
ondensed statement of operation and the condensed statement of cash flow for 2008 only included activity from
Novem
b
er 29
,
2008 to Decem
b
er 31
,
2008.
121
C
LEARWIRE
CO
RP
O
RATI
O
N AND
SU
B
S
IDIARIE
S
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —
(
Continued
)