Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2016 | Feb. 03, 2017 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | S | |
Entity Registrant Name | SPRINT CORP | |
Entity Central Index Key | 101,830 | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 3,987,167,109 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 31, 2016 | Mar. 31, 2016 |
Current Assets | ||
Cash and Cash Equivalents | $ 3,707 | $ 2,641 |
Short-term Investments | 2,349 | 0 |
Accounts and notes receivable, net of allowance for doubtful accounts and deferred interest of $38 and $204 | 1,236 | 1,099 |
Device and accessory inventory | 1,296 | 1,173 |
Prepaid expenses and other current assets | 1,984 | 1,920 |
Total current assets | 10,572 | 6,833 |
Property, plant and equipment, net | 19,333 | 20,297 |
Intangible assets | ||
Goodwill | 6,579 | 6,575 |
FCC licenses and other | 40,556 | 40,073 |
Definite-lived intangible assets, net | 3,582 | 4,469 |
Other assets | 673 | 728 |
Total assets | 81,295 | 78,975 |
Current Liabilities | ||
Accounts payable | 2,894 | 2,899 |
Accrued expenses and other current liabilities | 4,189 | 4,374 |
Current portion of long-term debt, financing and capital lease obligations | 6,554 | 4,690 |
Total current liabilities | 13,637 | 11,963 |
Long-term debt, financing and capital lease obligations | 30,759 | 29,268 |
Deferred tax liabilities | 14,238 | 13,959 |
Other liabilities | 3,665 | 4,002 |
Total liabilities | 62,299 | 59,192 |
Commitments and contingencies | ||
Shareholders' Equity | ||
Common stock, voting, par value $0.01 per share, 9.0 billion authorized, 3.970 billion and 3.967 billion issued, respectively | 40 | 40 |
Treasury Stock, Value | 0 | (3) |
Paid-in capital | 27,694 | 27,563 |
Accumulated deficit | (8,301) | (7,378) |
Accumulated other comprehensive loss | (437) | (439) |
Total stockholders' equity | 18,996 | 19,783 |
Liabilities and Equity | $ 81,295 | $ 78,975 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue, Net [Abstract] | ||||
Service | $ 6,323 | $ 6,683 | $ 19,252 | $ 20,600 |
Equipment | 2,226 | 1,424 | 5,556 | 3,509 |
Net operating revenues | 8,549 | 8,107 | 24,808 | 24,109 |
Net operating expenses | ||||
Cost of Services (exclusive of depreciation and amortization included below) | 1,925 | 2,348 | 6,125 | 7,194 |
Cost of Products (exclusive of depreciation and amortization included below) | 1,985 | 1,589 | 5,097 | 4,244 |
Selling, general and administrative | 2,080 | 2,129 | 5,992 | 6,540 |
Severance and exit costs | 19 | 209 | 30 | 247 |
Depreciation | 1,837 | 1,549 | 5,227 | 4,202 |
Amortization | 255 | 316 | 813 | 994 |
Other, net | 137 | 164 | 230 | 386 |
Total costs and expenses | 8,238 | 8,304 | 23,514 | 23,807 |
Operating Income | 311 | (197) | 1,294 | 302 |
Other (expense) income | ||||
Interest Expense | (619) | (546) | (1,864) | (1,630) |
Other income, net | (60) | 4 | (67) | 13 |
Nonoperating Expense | (679) | (542) | (1,931) | (1,617) |
Loss (income) before income taxes | (368) | (739) | (637) | (1,315) |
Income tax benefit | (111) | (97) | (286) | (126) |
Net (loss) income | $ (479) | $ (836) | $ (923) | $ (1,441) |
Basic net (loss) income per common share | $ (0.12) | $ (0.21) | $ (0.23) | $ (0.36) |
Diluted net (loss) income per common share | $ (0.12) | $ (0.21) | $ (0.23) | $ (0.36) |
Basic weighted average common shares outstanding | 3,983 | 3,970 | 3,979 | 3,969 |
Diluted weighted average common shares outstanding | 3,983 | 3,970 | 3,979 | 3,969 |
Other comprehensive (loss) income, net of tax: | ||||
Net unrealized holding gains on securities and other | $ (5) | $ (9) | $ 0 | $ (16) |
Net unrecognized net periodic pension and other postretirement benefits | 0 | 2 | 2 | 5 |
Other comprehensive income | (5) | (7) | 2 | (11) |
Comprehensive (loss) income | $ (484) | $ (843) | $ (921) | $ (1,452) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | ||
Net (Loss) income | $ (923) | $ (1,441) |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation and amortization | 6,040 | 5,196 |
Provision for losses on accounts receivable | 406 | 385 |
Share-based and long-term incentive compensation expense | 57 | 58 |
Deferred income tax benefit | 276 | 120 |
Gains from asset dispositions and exchanges | 354 | 0 |
Amortization and accretion of long-term debt premiums and discounts | (234) | (236) |
Loss on Disposition of Property Plant Equipment | 368 | 228 |
Gain (Loss) on Contract Termination | 96 | 0 |
Other changes in assets and liabilities: | ||
Accounts and notes receivable | (542) | (1,482) |
Deferred purchase price from sale of receivables | (220) | 2,048 |
Inventories and other current assets | (2,254) | (2,165) |
Accounts payable and other current liabilities | (97) | (816) |
Non-current assets and liabilities, net | (313) | 112 |
Other, net | 594 | 596 |
Net cash provided by operating activities | 2,900 | 2,603 |
Cash flows from investing activities | ||
Capital expenditures - network and other | (1,421) | (3,958) |
Capital expenditures - leased devices | (1,530) | (1,724) |
Expenditures relating to FCC licenses | (46) | (75) |
Proceeds from sales and maturities of short-term investments | 2,649 | 377 |
Purchases of short-term investments | (4,998) | (252) |
Proceeds from sales of assets and FCC Licenses | 126 | 36 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | 1,136 |
Other, net | 26 | (25) |
Net Cash Used in Investing Activities | (5,194) | (4,485) |
Cash flows from financing activities | ||
Proceeds from debt and financings | 6,830 | 755 |
Repayments of debt and capital lease obligations | (3,266) | (727) |
Debt financing costs | 272 | 1 |
Other, net | 68 | 20 |
Net cash provided by (used in) financing activities | 3,360 | 47 |
Net decrease in cash and cash equivalents | 1,066 | (1,835) |
Cash and cash equivalents, beginning of period | 2,641 | 4,010 |
Cash and cash equivalents, end of period | $ 3,707 | $ 2,175 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - 9 months ended Dec. 31, 2016 - USD ($) shares in Millions, $ in Millions | Total | Common Stock [Member] | Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] |
Balance (in shares) at Mar. 31, 2016 | 3,974 | 1 | ||||
Balance at Mar. 31, 2016 | $ 19,783 | $ 40 | $ 27,563 | $ (3) | $ (7,378) | $ (439) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | (923) | (923) | ||||
Other Comprehensive Income (Loss), Net of Tax | 2 | 2 | ||||
Stock Issued During Period, Shares, New Issues | 11 | |||||
Stock Issued During Period, Value, New Issues | 35 | 32 | ||||
Stock Issued During Period, Shares, Treasury Stock Reissued | (1) | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | $ 3 | |||||
Share-based compensation expense | 56 | 56 | ||||
Capital contribution by SoftBank | 6 | 6 | ||||
Other, net | 37 | 37 | ||||
Balance (in shares) at Dec. 31, 2016 | 3,985 | 0 | ||||
Balance at Dec. 31, 2016 | $ 18,996 | $ 40 | $ 27,694 | $ 0 | $ (8,301) | $ (437) |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Dec. 31, 2016 | |
Nature of Operations [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X for interim financial information. All normal recurring adjustments considered necessary for a fair presentation have been included. Certain disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) have been omitted. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes contained in our annual report on Form 10-K for the year ended March 31, 2016 . Unless the context otherwise requires, references to "Sprint," "we," "us," "our" and the "Company" mean Sprint Corporation and its consolidated subsidiaries for all periods presented, and references to "Sprint Communications" are to Sprint Communications, Inc. and its consolidated subsidiaries. The preparation of the unaudited interim consolidated financial statements requires management of the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities at the date of the unaudited interim consolidated financial statements. These estimates are inherently subject to judgment and actual results could differ. Certain prior period amounts have been reclassified to conform to the current period presentation. |
New Accounting Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued new authoritative literature, Revenue from Contracts with Customers, and has subsequently modified several areas of the standard in order to provide additional clarity and improvements . The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The new standard will supersede much of the existing authoritative literature for revenue recognition. In July 2015, the FASB deferred the effective date of this standard. As a result, the standard and related amendments will be effective for the Company's fiscal year beginning April 1, 2018, including interim periods within that fiscal year. Early application is permitted, but not before the original effective date of April 1, 2017. Two adoption methods are available for implementation of the standard update related to the recognition of revenue from contracts with customers. Under one method, the guidance is applied retrospectively to contracts for each reporting period presented, subject to allowable practical expedients. Under the other method, the guidance is applied only to the most current period presented, recognizing the cumulative effect of the change as an adjustment to the beginning balance of retained earnings, and also requires additional disclosures comparing the results to the previous guidance. The Company is currently evaluating the guidance, including which implementation approach will be applied. We expect this guidance to have a material impact on our consolidated financial statements. In January 2015, the FASB issued authoritative guidance on Extraordinary and Unusual Items , eliminating the concept of extraordinary items. The issuance is part of the FASB’s initiative to reduce complexity in accounting standards. Under the current guidance, an entity is required to separately classify, present and disclose events and transactions that meet the criteria for extraordinary classification. Under the new guidance, reporting entities will no longer be required to consider whether an underlying event or transaction is extraordinary, however, presentation and disclosure guidance for items that are unusual in nature or occur infrequently was retained and expanded to include items that are both unusual in nature and infrequently occurring. The amendments are effective for the Company’s fiscal year beginning April 1, 2016, and did not have a material impact on our consolidated financial statements. In February 2015, the FASB issued authoritative guidance regarding Consolidation , which provides guidance to management when evaluating whether they should consolidate certain legal entities. The updated guidance modifies evaluation criteria of limited partnerships and similar legal entities, eliminates the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships. All legal entities will be subject to reevaluation under the revised consolidation model. The standard is effective for the Company’s fiscal year beginning April 1, 2016, including interim reporting periods within this fiscal year and did not have a material impact on our consolidated financial statements. In July 2015, the FASB issued authoritative guidance regarding Inventory , which simplifies the subsequent measurement of certain inventories by replacing today’s lower of cost or market test with a lower of cost and net realizable value test. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The standard will be effective for the Company’s fiscal year beginning April 1, 2017, including interim periods within this fiscal year. The Company does not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In September 2015, the FASB issued authoritative guidance amending Business Combinations, which requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. The amendments are effective for the Company's fiscal year beginning April 1, 2016, including interim periods within this fiscal year and, will be applied, as necessary, to future business combinations. The amendments are to be applied prospectively to adjustments that occur after the effective date. In January 2016, the FASB issued authoritative guidance regarding Financial Instruments , which amended guidance on the classification and measurement of financial instruments. Under the new guidance, entities will be required to measure equity investments that are not consolidated or accounted for under the equity method at fair value with any changes in fair value recorded in net income, unless the entity has elected the new practicability exception. For financial liabilities measured using the fair value option, entities will be required to separately present in other comprehensive income the portion of the changes in fair value attributable to instrument-specific credit risk. Additionally, the guidance amends certain disclosure requirements associated with the fair value of financial instruments. The standard will be effective for the Company’s fiscal year beginning April 1, 2018, including interim reporting periods within that fiscal year. The Company does not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In February 2016, the FASB issued authoritative guidance regarding Leases. The new standard will supersede much of the existing authoritative literature for leases. This guidance requires lessees, among other things, to recognize right-of-use assets and liabilities on their balance sheet for all leases with lease terms longer than twelve months. The standard will be effective for the Company for its fiscal year beginning April 1, 2019, including interim periods within that fiscal year, with early application permitted. Entities are required to use modified retrospective application for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements with the option to elect certain transition reliefs. The Company is currently evaluating the guidance and expects it to have a material impact on our consolidated financial statements, however we are still assessing the overall impact. In June 2016, the FASB issued authoritative guidance regarding Financial Instruments - Credit Losses , which requires entities to use a Current Expected Credit Loss impairment model based on expected losses rather than incurred losses. Under this model, an entity would recognize an impairment allowance equal to its current estimate of all contractual cash flows that the entity does not expect to collect from financial assets measured at amortized cost. The entity's estimate would consider relevant information about past events, current conditions and reasonable and supportable forecasts, which will result in recognition of lifetime expected credit losses. The standard will be effective for the Company's fiscal year beginning April 1, 2020, including interim reporting periods within that fiscal year, although early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In August 2016, the FASB issued authoritative guidance regarding Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. It provides guidance on eight specific cash flow issues. The standard will be effective for the Company for its fiscal years beginning after April 1, 2018, including interim periods within that fiscal year, with early adoption permitted. The Company is currently evaluating the guidance and assessing the impact it will have on our consolidated financial statements. In October 2016, the FASB issued authoritative guidance regarding Income Taxes , which amended guidance for the income tax consequences of intra-entity transfers of assets other than inventory. Under the new guidance, entities will be required to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, thereby eliminating the recognition exception within current guidance. The standard will be effective for the Company’s fiscal year beginning April 1, 2018, including interim reporting periods within that fiscal year. The Company is currently evaluating the guidance and assessing the impact it will have on our consolidated financial statements. In November 2016, the FASB issued authoritative guidance regarding Statement of Cash Flows: Restricted Cash, requiring that amounts generally described as restricted cash or restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard will be effective for the Company’s fiscal year beginning April 1, 2018, including interim reporting periods within that fiscal year, with early adoption permitted. The Company is currently evaluating the guidance and assessing the impact it will have on our consolidated financial statements. In January 2017, the FASB issued authoritative guidance amending Business Combinations: Clarifying the Definition of a Business , to clarify the definition of a business with the objective of providing a more robust framework to assist management when evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The standard will be effective for the Company for its fiscal year beginning April 1, 2018, including interim periods within that fiscal year, with early application permitted. The amendments are to be applied prospectively to business combinations that occur after the effective date. |
Funding Sources
Funding Sources | 9 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Funding Sources | Funding Sources Our device leasing and installment billing programs require a greater use of operating cash flows in the earlier part of the device contracts as our subscribers will generally pay less upfront than a traditional subsidy program. The Accounts Receivable Facility and the Handset Sale-Leaseback transactions described below were designed in large part to mitigate the significant use of cash from purchasing devices from original equipment manufacturers (OEMs) to fulfill our installment billing and leasing programs. We also entered into the Network Equipment Sale-Leaseback transaction in April 2016 to sell and leaseback certain network equipment to unrelated bankruptcy-remote special purpose entities (SPEs) that provided $2.2 billion in cash proceeds. Additionally, in October 2016 we entered into a spectrum financing transaction whereby a portion of our spectrum holdings was used as collateral to issue $3.5 billion in senior secured notes. Accounts Receivable Facility Transaction Overview Our Accounts Receivable Facility (Receivables Facility) provides us the opportunity to sell certain wireless service, installment receivables, and future amounts due from customers who lease certain devices from us to unaffiliated third parties (the Purchasers). The maximum funding limit under the Receivables Facility is $4.3 billion with an expiration of November 2017 (see Note 16. Subsequent Events) . T he Receivables Facility was amended in November 2016 to, among other things, reallocate the Purchasers' commitments between service, installment and future lease receivables. The amendment was in response to changing trends in the financing methods selected by customers. While we have the right to decide how much cash to receive from each sale, the maximum amount of cash available to us varies based on a number of factors and currently represents approximately 50% of the total amount of the eligible receivables sold to the Purchasers. As of December 31, 2016 , the total amount available to be drawn was $6 million . The proceeds from the sale of these receivables are comprised of a combination of cash and a deferred purchase price receivable (DPP). The DPP is realized by us upon the ultimate collection of the underlying receivables sold to the Purchasers or upon Sprint's election to receive additional advances in cash from the Purchasers subject to the total availability under the Receivables Facility. Wireless service and installment receivables sold are treated as a sale of financial assets and Sprint derecognizes these receivables, as well as the related allowances, and recognizes the net proceeds received in cash provided by operating activities on the consolidated statements of cash flows. The net amount drawn for wireless service and installment receivables was $1.8 billion as of December 31, 2016 . The fees associated with these sales are recognized in "Selling, general and administrative" in the consolidated statements of comprehensive loss. The sale of future lease receivables is treated as a financing transaction. Accordingly, the proceeds received are reflected as cash provided by financing activities on the consolidated statements of cash flows and the fees are recognized as "Interest expense" in the consolidated statements of comprehensive loss. Transaction Structure Sprint contributes certain wireless service, installment and future lease receivables, as well as the associated leased devices to Sprint's wholly-owned consolidated bankruptcy-remote SPEs. At Sprint's direction, the SPEs have sold, and will continue to sell, wireless service, installment and future lease receivables to Purchasers or to a bank agent on behalf of the Purchasers. Leased devices will remain with the SPEs and continue to be depreciated over their estimated useful life. At December 31, 2016 , the net book value of devices contributed to the SPEs was approximately $965 million . Each SPE is a separate legal entity with its own separate creditors who will be entitled, prior to and upon the liquidation of the SPE, to be satisfied out of the SPE’s assets prior to any assets in the SPE becoming available to Sprint. Accordingly, the assets of the SPE are not available to pay creditors of Sprint or any of its affiliates (other than any other SPE), although collections from these receivables in excess of amounts required to repay the advances, yield and fees of the Purchasers and other creditors of the SPEs may be remitted to Sprint during and after the term of the Receivables Facility. Sprint has no retained interest in the receivables sold, other than collection and administrative responsibilities and its right to the DPP. Sales of eligible receivables by the SPEs generally occur daily and are settled on a monthly basis. Sprint pays a fee for the drawn and undrawn portions of the Receivables Facility. A subsidiary of Sprint services the receivables in exchange for a monthly servicing fee, and Sprint guarantees the performance of the servicing obligations under the Receivables Facility. DPP The DPP related to our wireless service and installment receivables, which amounted to approximately $1.4 billion and $1.2 billion as of December 31, 2016 and March 31, 2016 , respectively, is classified as a trading security within "Prepaid expenses and other current assets" in the consolidated balance sheets and is recorded at its estimated fair value. The fair value of the DPP is estimated using a discounted cash flow model, which relies principally on unobservable inputs such as the nature and credit class of the sold receivables and subscriber payment history, and for installment receivables sold, the estimated timing of upgrades and upgrade payment amounts for those with upgrade options. Accretable yield on the DPP is recognized as interest revenue within net operating service revenue on the consolidated statements of comprehensive loss and other changes in the fair value of the DPP are recognized in "Selling, general and administrative" in the consolidated statements of comprehensive loss. Changes in the fair value of the DPP did not have a material impact on our statements of comprehensive loss for the three and nine-month periods ended December 31, 2016 . Changes to the unobservable inputs used to determine the fair value did not and are not expected to result in a material change in the fair value of the DPP. During the nine-month period ended December 31, 2016 , we remitted $185 million of funds to the Purchasers because the amount of cash proceeds received by us under the facility exceeded the maximum funding limit, which increased the total amount of the DPP due to Sprint. We also elected to receive $625 million of cash, which decreased the total amount of the DPP due to Sprint. In addition, during the nine-month period ended December 31, 2016 , sales of new receivables exceeded cash collections on previously sold receivables such that the DPP increased by $660 million . Continuing Involvement Sprint has continuing involvement in the receivables sold by the SPEs to the Purchasers because a subsidiary of Sprint services the receivables. Additionally, in accordance with the Receivables Facility, Sprint is required to repurchase aged receivables, or those that will be written off in accordance with Sprint's credit and collection policies, both of which result from subscriber non-payment. Sprint recognizes assets and liabilities, as applicable, with respect to its continuing involvement at fair value. Sprint's continuing involvement did not have a material impact on its financial statements as of December 31, 2016 . Variable Interest Entity Sprint determined that certain of the Purchasers, which are multi-seller asset-backed commercial paper conduits (Conduits) are considered variable interest entities because they lack sufficient equity to finance their activities. Sprint's interest in the service and installment receivables purchased by the Conduits, which is comprised of the DPP due to Sprint, is not considered variable because it consists of assets that represent less than 50% of the total activity of the Conduits. Handset Sale-Leasebacks In December 2015 and May 2016, we sold certain iPhone ® devices being leased by our customers to Mobile Leasing Solutions, LLC (MLS), a company formed by a group of equity investors, including SoftBank Group Corp. (SoftBank), and then subsequently leased the devices back. Under the agreements, Sprint generally maintains the customer leases, continues to collect and record lease revenue from the customer and remits monthly rental payments to MLS during the leaseback periods. Under the agreements, Sprint contributed the devices and the associated customer leases to wholly-owned consolidated bankruptcy-remote special purpose entities of Sprint (SPE Lessees). The SPE Lessees then sold the devices and transferred certain specified customer lease end rights and obligations, such as the right to receive the proceeds from customers who elect to purchase the device at the end of the customer lease term, to MLS in exchange for a combination of cash and DPP. Settlement for the DPP occurs near the end of the agreement and can be reduced to the extent that MLS experiences a loss on the device (either not returned or sold at an amount less than the expected residual value of the device), but only to the extent of the device's DPP balance. In the event that MLS sells the devices returned from our customers at a price greater than the expected device residual value, Sprint has the potential to share some of the excess proceeds. The SPE Lessees retain all rights to the underlying customer leases, such as the right to receive the rental payments during the device leaseback period, other than the aforementioned certain specified customer lease end rights. Each SPE Lessee is a separate legal entity with its own separate creditors who will be entitled, prior to and upon the liquidation of the SPE Lessee, to be satisfied out of the SPE Lessee’s assets prior to any assets in the SPE Lessee becoming available to Sprint. Accordingly, the assets of the SPE Lessee are not available to pay creditors of Sprint or any of its affiliates. The SPE Lessees are obligated to pay the full monthly rental payments under each device lease to MLS regardless of whether our customers make lease payments on the devices leased to them or whether the customer lease is canceled. Sprint has guaranteed to MLS the performance of the agreements and undertakings of the SPE Lessees under the transaction documents. Handset Sale-Leaseback Tranche 1 (Tranche 1) In December 2015, Sprint transferred devices with a net book value of approximately $1.3 billion to MLS in exchange for cash proceeds totaling $1.1 billion and a DPP of $126 million . We recorded the sale, removed the devices from our balance sheet, and classified the leasebacks as operating leases. The difference between the fair value and the net book value of the devices sold was recognized as a loss on disposal of property, plant and equipment in the amount of $65 million and was included in "Other, net" in the consolidated statements of comprehensive loss for the three and nine-month periods ended December 31, 2015. The cash proceeds received in the transaction were reflected as cash provided by investing activities on the consolidated statements of cash flows and payments made to MLS under the leaseback are reflected as "Cost of products" in the consolidated statements of comprehensive loss. Rent expense related to MLS totaled $117 million and $494 million during the three and nine-month periods ended December 31, 2016 , respectively, and is reflected within cash flows from operations. The monthly rental payments for the devices leased backed by us were expected to approximate the amount of cash received from the associated customer leases during the weighted average leaseback period. In December 2016, Sprint terminated Tranche 1 by repurchasing the devices and related customer lease end rights and obligations from MLS for consideration of $371 million of net cash payments and the DPP of $126 million . As a result of the transaction, Sprint recorded $477 million of property, plant and equipment, $16 million of other assets, and was released from certain liabilities. Additionally, the leaseback was canceled and there will be no future rental payments owed to MLS related to Tranche 1. The impact to the consolidated statements of comprehensive loss as a result of the termination was immaterial. Handset Sale-Leaseback Tranche 2 (Tranche 2) In May 2016, Sprint transferred devices with a net book value of approximately $1.3 billion to MLS in exchange for cash proceeds totaling $1.1 billion and a DPP of $186 million . Unlike Tranche 1, Tranche 2 was accounted for as a financing. Accordingly, the devices remain in "Property, plant and equipment, net" in the consolidated balance sheets and we continue to depreciate the assets to their estimated residual values over the respective customer lease terms. At December 31, 2016 , the net book value of devices transferred to MLS was approximately $725 million . The proceeds received are reflected as cash provided by financing activities in the consolidated statements of cash flows and payments made to MLS will be reflected as principal repayments and interest expense over the respective terms. We have elected to account for the financing obligation at fair value. Accordingly, changes in the fair value of the financing obligation are recognized in "Other (expense) income, net" in the consolidated statements of comprehensive loss over the course of the arrangement. Tranche 2 primarily includes devices from our iPhone Forever Program, whereas these devices were specifically excluded from Tranche 1. The iPhone Forever Program provides our leasing customers the ability to upgrade their devices and to enter into a new lease agreement, subject to certain conditions, upon Apple's release of a next generation device. Upon a customer exercising their iPhone Forever upgrade right, Sprint has the option to terminate the existing leaseback by immediately remitting all unpaid device leaseback payments and returning the device to MLS. Alternatively, Sprint is required to transfer the title in the new device to MLS in exchange for the title in the original device (Exchange Option). If Sprint elects the Exchange Option, we are required to continue to pay existing device leaseback rental related to the original device, among other requirements. To address the introduction of the upgrade feature into the sale-leaseback structure, among other factors, numerous contractual terms from Tranche 1 were modified, which shifted certain risks of ownership in the devices away from MLS to Sprint and resulted in Tranche 2 being accounted for as a financing. For instance, the device leaseback periods are generally longer in Tranche 2 as compared to Tranche 1, and the resulting amounts committed to be paid by the Company represent the initial proceeds received from MLS plus interest. This mitigates MLS's exposure to certain risks for non-returned and damaged devices, as well as to declines in device residual values. Network Equipment Sale-Leaseback In April 2016, Sprint sold and leased back certain network equipment to unrelated bankruptcy-remote special purpose entities (collectively, "Network LeaseCo"). The network equipment acquired by Network LeaseCo was used by them as collateral to raise approximately $2.2 billion in borrowings from external investors, including SoftBank. Sprint's payments to Network LeaseCo during the leaseback period are used by Network LeaseCo to service their debt. Network LeaseCo is a variable interest entity for which Sprint is the primary beneficiary. As a result, Sprint is required to consolidate Network LeaseCo and our consolidated financial statements include Network LeaseCo's debt and the related financing cash inflows. The network assets included in the transaction, which had a net book value of approximately $3.0 billion and consisted primarily of equipment located at cell towers, remain on Sprint's consolidated financial statements and continue to be depreciated over their respective estimated useful lives. At December 31, 2016 , these network assets had a net book value of approximately $2.5 billion . The proceeds received were reflected as cash provided by financing activities in the consolidated statements of cash flows and payments made to Network LeaseCo are reflected as principal repayments and interest expense over the respective terms. Sprint has the option to purchase the equipment at the end of the leaseback term for a nominal amount. All intercompany transactions between Network LeaseCo and Sprint are eliminated in our consolidated financial statements. Principal and interest payments on the borrowings from the external investors will be repaid in staggered, unequal payments through January 2018 with the first principal payment of approximately $300 million due in March 2017 followed by the remaining $1.9 billion of principal payments due in fiscal year 2017. Spectrum Financing In October 2016, Sprint transferred certain directly held and third-party leased spectrum licenses (collectively, "the Spectrum Portfolio") to wholly-owned bankruptcy-remote special purpose entities (collectively, "the Spectrum Financing SPEs"). The Spectrum Portfolio, which represents approximately 14% of Sprint's total spectrum holdings on a MHz-pops basis, was used as collateral to raise an initial $3.5 billion in senior secured notes at 3.36% from external investors under a $7.0 billion program. Sprint can utilize this financing structure to potentially raise up to an additional $3.5 billion subject to certain conditions. The notes will be repaid over a five -year term, with interest only payments over the first four quarters and amortizing quarterly principal and interest payments thereafter through September 2021. Sprint Communications, Inc. simultaneously entered into a long-term lease with the Spectrum Financing SPEs for the ongoing use of the Spectrum Portfolio. Sprint Communications, Inc. is required to make monthly lease payments to the Spectrum Financing SPEs, at a market rate in an amount sufficient to service the notes. As the Spectrum Financing SPEs are wholly-owned Sprint subsidiaries, these entities are consolidated and all intercompany activity has been eliminated. As a result of this transaction, our $2.5 billion unsecured financing facility was terminated. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | Financial Instruments The Company carries certain assets and liabilities at fair value. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs based on the observability as of the measurement date, is as follows: quoted prices in active markets for identical assets or liabilities; observable inputs other than the quoted prices in active markets for identical assets and liabilities; and unobservable inputs for which there is little or no market data, which require the Company to develop assumptions of what market participants would use in pricing the asset or liability. The carrying amount of cash and cash equivalents, accounts and notes receivable, and accounts payable approximates fair value. Short-term investments (consisting primarily of time deposits and commercial paper) are recorded at amortized cost, and the respective carrying amounts approximate fair value. Short-term investments totaled approximately $2.3 billion as of December 31, 2016 and Sprint did not hold any short-term investments as of March 31, 2016 . The fair value of marketable equity securities totaling $50 million and $46 million as of December 31, 2016 and March 31, 2016 , respectively, are measured on a recurring basis using quoted prices in active markets. Except for our financing transaction with MLS, current and long-term debt and our other financings are carried at amortized cost. The Company elected to measure the financing obligation with MLS at fair value as a means to better reflect the economic substance of the arrangement. The Tranche 2 financing obligation, which amounted to $554 million at December 31, 2016 and is reported in "Current portion of long-term debt, financing and capital lease obligations" in our consolidated balance sheets, is the only eligible financial instrument for which we have elected the fair value option. The fair value of the financing obligation, which was determined at the outset of the arrangement using a discounted cash flow model, was derived by unobservable inputs such as customer churn rates, customer upgrade probabilities, and the likelihood that Sprint will elect the Exchange Option versus the termination option upon a customer upgrade. Any gains or losses resulting from changes in the fair value of the financing obligation are included in “Other (expense) income, net” on the consolidated statements of comprehensive loss. During the nine-month period ended December 31, 2016 , the change in fair value of the financing obligation resulted in a loss of approximately $30 million . During the nine-month period ended December 31, 2016 , the payments made to MLS totaled $502 million . The estimated fair value of the majority of our current and long-term debt, excluding our credit facilities, future lease receivables and borrowings under our Network Equipment Sale-Leaseback and Tranche 2 transactions, is determined based on quoted prices in active markets or by using other observable inputs that are derived principally from, or corroborated by, observable market data. The following table presents carrying amounts and estimated fair values of current and long-term debt: Carrying amount at December 31, 2016 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt $ 36,870 $ 29,457 $ 4,391 $ 4,758 $ 38,606 Carrying amount at March 31, 2016 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt $ 33,645 $ 21,757 $ 4,474 $ 2,130 $ 28,361 |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consists primarily of network equipment and other long-lived assets used to provide service to our subscribers. Non-cash accruals included in property, plant and equipment (excluding leased devices) totaled $325 million and $763 million as of December 31, 2016 and 2015 , respectively. The following table presents the components of property, plant and equipment and the related accumulated depreciation: December 31, March 31, (in millions) Land $ 260 $ 260 Network equipment, site costs and related software 21,696 21,500 Buildings and improvements 808 798 Non-network internal use software, office equipment, leased devices and other 8,450 6,182 Construction in progress 1,460 1,249 Less: accumulated depreciation (13,341 ) (9,692 ) Property, plant and equipment, net $ 19,333 $ 20,297 In September 2014, Sprint introduced a leasing program, whereby qualified subscribers can lease a device for a contractual period of time. At the end of the lease term, the subscriber has the option to turn in the device, continue leasing the device, or purchase the device. As of December 31, 2016 , substantially all of our device leases were classified as operating leases. At lease inception, the devices leased through Sprint's direct channels are reclassified from inventory to property, plant and equipment. For those devices leased through indirect channels, Sprint purchases the device to be leased from the retailer at lease inception. The devices are then depreciated using the straight-line method to their estimated residual value generally over the term of the lease. The following table presents leased devices and the related accumulated depreciation: December 31, March 31, (in millions) Leased devices $ 7,099 $ 4,913 Less: accumulated depreciation (2,645 ) (1,267 ) Leased devices, net $ 4,454 $ 3,646 During the nine-month periods ended December 31, 2016 and 2015 , there were non-cash transfers to leased devices of approximately $2.3 billion and $2.6 billion , respectively, along with a corresponding decrease in "Device and accessory inventory." Non-cash accruals included in leased devices totaled $166 million and $306 million as of December 31, 2016 and 2015 , respectively, for devices purchased from indirect dealers that were leased to our subscribers. Depreciation expense incurred on all leased devices was $837 million and $2.2 billion for the three and nine-month periods ended December 31, 2016 , respectively, and $535 million and $1.2 billion for the same periods in 2015 , respectively. During the three and nine-month periods ended December 31, 2016 , we recorded $137 million and $368 million , respectively, of loss on disposal of property, plant and equipment, net of recoveries, which is included in "Other, net" in our consolidated statements of comprehensive loss. These losses primarily resulted from the write-off of leased devices associated with lease cancellations prior to the scheduled customer lease terms where customers did not return the devices to us. If customers continue to not return devices, we may continue to have similar losses in future periods. During the three and nine-month periods ended December 31, 2015 , we recorded $78 million and $163 million , respectively, of loss on disposal of property, plant and equipment, net of recoveries, which is included in "Other, net" in our consolidated statements of comprehensive loss. These losses resulted from the write-off of leased devices associated with lease cancellations prior to the scheduled customer lease terms where customers did not return the devices to us and cell site construction costs and other network costs that are no longer recoverable as a result of changes in the Company's network plans. |
Intangible Assets
Intangible Assets | 9 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets Indefinite-Lived Intangible Assets Our indefinite-lived intangible assets consist of FCC licenses, which were acquired primarily through FCC auctions and business combinations, certain of our trademarks, and goodwill. At December 31, 2016 , we held 1.9 GHz, 800 MHz and 2.5 GHz FCC licenses authorizing the use of radio frequency spectrum to deploy our wireless services. As long as the Company acts within the requirements and constraints of the regulatory authorities, the renewal and extension of these licenses is reasonably certain at minimal cost. Accordingly, we have concluded that FCC licenses are indefinite-lived intangible assets. Our Sprint and Boost Mobile trademarks have also been identified as indefinite-lived intangible assets. Goodwill represents the excess of consideration paid over the estimated fair value of net tangible and identifiable intangible assets acquired in business combinations. The following provides the activity of indefinite-lived intangible assets within the consolidated balance sheets: March 31, Net Additions December 31, (in millions) FCC licenses (1) $ 36,038 $ 483 $ 36,521 Trademarks 4,035 — 4,035 Goodwill 6,575 4 6,579 $ 46,648 $ 487 $ 47,135 _________________ (1) Net additions within FCC licenses includes $85 million of spectrum acquired from the Shentel transaction (see Note 8. Long-Term Debt, Financing and Capital Lease Obligations) and an increase from spectrum license exchanges described below during the nine-month period ended December 31, 2016 . Spectrum License Exchanges In the second quarter of fiscal year 2016, we exchanged certain spectrum licenses with other carriers in non-cash transactions. As a result, we recorded a non-cash gain of $354 million , which represented the difference between the fair value and the net book value of the spectrum transferred to the other carriers. The gain was presented in "Other, net" in the consolidated statements of comprehensive loss for the nine-month period ended December 31, 2016 . Assessment of Impairment Our annual impairment testing date for goodwill and indefinite-lived intangible assets is January 1 of each year; however, we test for impairment between our annual tests if an event occurs or circumstances change that indicate that the asset may be impaired, or in the case of goodwill, that the fair value of the reporting unit is below its carrying amount. We did not record an impairment during the nine-month period ended December 31, 2016 . The determination of fair value requires considerable judgment and is highly sensitive to changes in underlying assumptions. Consequently, there can be no assurance that the estimates and assumptions made for the purposes of the goodwill, spectrum and trademarks impairment tests will prove to be an accurate prediction of the future. Continued, sustained declines in the Company’s operating results, future forecasted cash flows, growth rates and other assumptions, as well as significant, sustained declines in the Company’s stock price and related market capitalization could impact the underlying key assumptions and our estimated fair values, potentially leading to a future material impairment of goodwill or other indefinite-lived intangible assets. Intangible Assets Subject to Amortization Customer relationships are amortized using the sum-of-the-months' digits method, while all other definite-lived intangible assets are amortized using the straight line method over the estimated useful lives of the respective assets. We reduce the gross carrying value and associated accumulated amortization when specified intangible assets become fully amortized. Amortization expense related to favorable spectrum and tower leases is recognized in "Cost of services" in our consolidated statements of comprehensive loss. December 31, 2016 March 31, 2016 Useful Lives Gross Accumulated Net Gross Accumulated Net (in millions) Customer relationships 4 to 8 years $ 6,923 $ (4,824 ) $ 2,099 $ 6,923 $ (4,045 ) $ 2,878 Other intangible assets: Favorable spectrum leases 23 years 870 (129 ) 741 881 (110 ) 771 Favorable tower leases 3 to 7 years 589 (367 ) 222 589 (302 ) 287 Trademarks 34 years 520 (55 ) 465 520 (43 ) 477 Other 4 to 10 years 90 (35 ) 55 83 (27 ) 56 Total other intangible assets 2,069 (586 ) 1,483 2,073 (482 ) 1,591 Total definite-lived intangible assets $ 8,992 $ (5,410 ) $ 3,582 $ 8,996 $ (4,527 ) $ 4,469 |
Accounts Payable
Accounts Payable | 9 Months Ended |
Dec. 31, 2016 | |
Accounts Payable [Abstract] | |
Accounts Payable | Accounts Payable Accounts payable at December 31, 2016 and March 31, 2016 include liabilities in the amounts of $83 million and $66 million , respectively, for payments issued in excess of associated bank balances but not yet presented for collection. |
Long-Term Debt, Financing and C
Long-Term Debt, Financing and Capital Lease Obligations | 9 Months Ended |
Dec. 31, 2016 | |
Long-term Debt and Capital Lease Obligations [Abstract] | |
Long-Term Debt, Financing and Capital Lease Obligations | Long-Term Debt, Financing and Capital Lease Obligations Interest Rates Maturities December 31, March 31, (in millions) Notes Senior notes Sprint Corporation 7.13 - 7.88% 2021 - 2025 $ 10,500 $ 10,500 Sprint Communications, Inc. 6.00 - 11.50% 2017 - 2022 7,280 9,280 Sprint Capital Corporation 6.88 - 8.75% 2019 - 2032 6,204 6,204 Senior secured notes Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC 3.36% 2021 3,500 — Guaranteed notes Sprint Communications, Inc. 7.00 - 9.00% 2018 - 2020 4,000 4,000 Secured notes Clearwire Communications LLC (1) 14.75% 2016 — 300 Exchangeable notes Clearwire Communications LLC (1)(2) 8.25% 2017 629 629 Credit facilities Bank credit facility 4.00% 2018 — — Export Development Canada (EDC) 4.48 - 6.23% 2017 - 2019 550 550 Secured equipment credit facilities 2.03 - 3.27% 2017 - 2021 586 805 Financing obligations, capital lease and other obligations 2.35 - 10.63% 2017 - 2024 3,881 1,093 Net premiums and debt financing costs 183 597 37,313 33,958 Less current portion (6,554 ) (4,690 ) Long-term debt, financing and capital lease obligations $ 30,759 $ 29,268 _________________ (1) Notes of Clearwire Communications LLC are also direct obligations of Clearwire Finance, Inc. and are guaranteed by certain Clearwire subsidiaries. (2) The $629 million Clearwire 8.25% Exchangeable Notes have both a par call and put on December 1, 2017 resulting in the balance being classified as a current debt obligation as of December 31, 2016. As of December 31, 2016 , Sprint Corporation, the parent corporation, had $10.5 billion in aggregate principal amount of senior notes outstanding. In addition, as of December 31, 2016 , the outstanding principal amount of senior notes issued by Sprint Communications, Inc. and Sprint Capital Corporation, guaranteed notes issued by Sprint Communications, Inc., exchangeable notes issued by Clearwire Communications LLC, the EDC agreement, the secured equipment credit facilities, the installment payment obligations, and the Network Equipment Sale-Leaseback and Handset Sale-Leaseback Tranche 2 financing obligations, collectively totaled $22.3 billion in principal amount of our long-term debt issued by 100% owned subsidiaries, was fully and unconditionally guaranteed by Sprint Corporation. Although certain financing agreements restrict the ability of Sprint Communications, Inc. and its subsidiaries to distribute cash to Sprint Corporation, the ability of the subsidiaries to distribute cash to their respective parents, including to Sprint Communications, Inc., is generally not restricted. Cash interest payments, net of amounts capitalized of $32 million and $40 million , totaled $1.9 billion and $1.8 billion during the nine-month periods ended December 31, 2016 and 2015 , respectively. Notes As of December 31, 2016 , our outstanding notes consisted of senior notes, guaranteed notes, and exchangeable notes, all of which are unsecured, as well as senior secured notes associated with our Spectrum Financing transaction. Cash interest on all of the notes is generally payable semi-annually in arrears with the exception of the Spectrum Financing senior secured notes, which are payable quarterly. As of December 31, 2016 , $31.3 billion aggregate principal amount of the notes was redeemable at the Company's discretion at the then-applicable redemption prices plus accrued interest. As of December 31, 2016 , $25.1 billion aggregate principal amount of our senior notes and guaranteed notes provided holders with the right to require us to repurchase the notes if a change of control triggering event (as defined in the applicable indentures and supplemental indentures) occurs. Upon the close of the acquisition of Clearwire Corporation (Clearwire Acquisition), the Clearwire Communications LLC 8.25% Exchangeable Notes due 2040 became exchangeable at any time, at the holder’s option, for a fixed amount of cash equal to $706.21 for each $1,000 principal amount of notes surrendered. On December 1, 2017 the Exchangeable Notes can be tendered at the holder’s option for 100% of the par value plus accrued interest resulting in the entire balance being classified as a current debt obligation as of December 31, 2016. During the three-month period ended December 31, 2016, the Company repaid $2.0 billion aggregate principal upon maturity of its outstanding Sprint Communications, Inc. 6% senior notes and $300 million in aggregate principal of its Clearwire Communications LLC 14.75% secured notes. In October 2016, Sprint transferred the Spectrum Portfolio to the Spectrum Financing SPEs. The Spectrum Portfolio, which represents approximately 14% of Sprint's total spectrum holdings on a MHz-pops basis, was used as collateral to raise an initial $3.5 billion in senior secured notes at 3.36% from external investors under a $7.0 billion program. Sprint can utilize this financing structure to potentially raise up to an additional $3.5 billion , subject to certain conditions. The notes will be repaid over a five -year term, with interest only payments over the first four quarters and amortizing quarterly principal and interest payments thereafter through September 2021. As of December 31, 2016, approximately $219 million of the total principal outstanding was classified as "Current portion of long-term debt" in the consolidated balance sheets. Total debt finance costs incurred and capitalized in connection with the issuance of notes were approximately $95 million . Credit Facilities Unsecured Financing Facility During the three-month period ended June 30, 2016, Sprint Communications entered into an unsecured financing facility for $2.5 billion . In October 2016, this facility was terminated as a result of entering into the Spectrum Financing transaction described in Note 3. Funding Sources . During the three and nine-months periods ended December 31, 2016, the company recognized the remaining debt finance costs of $74 million associated with the terminated unsecured financing facility, which is included in "Other (expense) income, net" on the consolidated statements of comprehensive loss. Bank Credit Facility The Company has a $3.3 billion unsecured revolving bank credit facility that expires in February 2018. Borrowings under the revolving bank credit facility bear interest at a rate equal to LIBOR plus a spread that varies depending on the Company’s credit ratings. As of December 31, 2016 , approximately $274 million in letters of credit were outstanding under this credit facility, including the letter of credit required by the Report and Order (see Note 11. Commitments and Contingencies) . As a result of the outstanding letters of credit, which directly reduce the availability of borrowings, the Company had approximately $3.0 billion of borrowing capacity available under the revolving bank credit facility as of December 31, 2016 . The required ratio (Leverage Ratio) of total indebtedness to trailing four quarters earnings before interest, taxes, depreciation and amortization and other non-recurring items, as defined by the credit facility (adjusted EBITDA), may not exceed 6.25 to 1.0 through the quarter ending December 31, 2016 and 6.0 to 1.0 each fiscal quarter ending thereafter through expiration of the facility. The facility allows us to reduce our total indebtedness for purposes of calculating the Leverage Ratio by subtracting from total indebtedness the amount of any cash contributed into a segregated reserve account, provided that, after such cash contribution, our cash remaining on hand for operations exceeds $2.0 billion . Upon transfer, the cash contribution will remain restricted until and to the extent it is no longer required for the Leverage Ratio to remain in compliance. EDC Agreement As of December 31, 2016, the unsecured EDC agreement provided for covenant terms similar to those of the unsecured revolving bank credit facility. However, under the terms of the EDC agreement, repayments of outstanding amounts cannot be re-drawn. As of December 31, 2016 , the total principal amount of our borrowings under the EDC facility was $550 million . On February 3, 2017, we amended the EDC agreement to provide for security and covenant terms similar to our new secured term loan and revolving bank credit facility. Secured Equipment Credit Facilities Eksportkreditnamnden (EKN) In 2013, we had fully drawn and began to repay the EKN secured equipment credit facility totaling $1.0 billion , which was used to finance certain network-related purchases from Ericsson. During the nine-month period ended December 31, 2016 , we made principal repayments totaling $127 million on the facility, resulting in a total principal amount of $127 million outstanding at December 31, 2016 . Finnvera plc (Finnvera) The Finnvera secured equipment credit facility provides us with the ability to borrow up to $800 million to finance network-related purchases from Nokia Solutions and Networks US LLC, USA. The facility, which initially could be drawn upon as many as three consecutive tranches, now has one tranche remaining and available for borrowing through October 2017. Such borrowings are contingent upon the amount and timing of Sprint's network-related purchases. During the nine-month period ended December 31, 2016 , we made principal repayments totaling $28 million on the facility, resulting in a total principal amount of $168 million outstanding at December 31, 2016 . K-sure The K-sure secured equipment credit facility provides for the ability to borrow up to $750 million to finance network-related purchases from Samsung Telecommunications America, LLC. The facility can be divided in up to three consecutive tranches of varying size with borrowings available until May 2018, contingent upon the amount of network-related purchases made by Sprint. During the nine-month period ended December 31, 2016 , we made principal repayments totaling $65 million on the facility, resulting in a total principal amount of $258 million outstanding at December 31, 2016 . Delcredere | Ducroire (D/D) The D/D secured equipment credit facility provides for the ability to borrow up to $250 million to finance network equipment-related purchases from Alcatel-Lucent USA Inc. The principal balance outstanding at December 31, 2016 was $32 million . Borrowings under the EKN, Finnvera, K-sure and D/D secured equipment credit facilities are each secured by liens on the respective equipment purchased pursuant to each facility's credit agreement. In addition, repayments of outstanding amounts borrowed under the secured equipment credit facilities cannot be redrawn. Each of these facilities is fully and unconditionally guaranteed by both Sprint Communications, Inc. and Sprint Corporation. As of February 3, 2017, the secured equipment credit facilities have certain key covenants similar to those in our new secured term loan and revolving bank credit facility. Financing Obligations Financing of Future Lease Receivables In the three-month period ended March 31, 2016, we sold approximately $1.2 billion in total of future amounts due from customers who lease certain devices from us in exchange for cash proceeds of $600 million through our Receivables Facility (see Note 3. Funding Sources) . The difference between the amount sold and the cash received represents additional collateral to the lenders. The sale was accounted for as a financing and the $600 million cash proceeds were, accordingly, reflected as debt in our consolidated balance sheets. The associated leased devices continue to be reported as part of our "Property, plant and equipment, net" in our consolidated balance sheets and continue to be depreciated over their estimated useful life. During the nine-month period ended December 31, 2016 , we repaid $153 million to the Purchasers, which reduced the principal amount outstanding to $447 million as of December 31, 2016 . Network Equipment Sale-Leaseback In April 2016, Sprint sold and leased back certain network equipment to Network LeaseCo. The network equipment acquired by Network LeaseCo, which is consolidated by us, was used by them as collateral to raise approximately $2.2 billion in borrowings from external investors, including SoftBank. Principal and interest payments on the borrowings from the external investors will be repaid in staggered, unequal payments through January 2018 with the first principal payment of approximately $300 million due in March 2017 followed by the remaining $1.9 billion of principal payments due in fiscal year 2017 (see Note 3. Funding Sources). Handset Sale-Leaseback Tranche 2 In May 2016, Sprint entered into a second transaction with MLS to sell and leaseback certain iPhone ® devices leased by our customers. Upon the transfer of devices with a net book value of approximately $1.3 billion to MLS, Sprint received cash proceeds of $1.1 billion . Unlike Tranche 1, the proceeds from Tranche 2 were accounted for as a financing (see Note 3. Funding Sources) . During the nine-month period ended December 31, 2016 , we repaid $502 million to MLS, which reduced the principal amount of the financing obligation to $554 million as of December 31, 2016 . Tower Financing We have approximately 3,000 cell sites that we sold and subsequently leased back during 2008. Terms extend through 2021, with renewal options for an additional 20 years. These cell sites continue to be reported as part of our "Property, plant and equipment, net" in our consolidated balance sheets due to our continued involvement with the property sold and the transaction is accounted for as a financing. Capital Lease and Other Obligations On August 10, 2015, Shenandoah Telecommunications Company (Shentel) entered into a definitive agreement to acquire one of our wholesale partners, NTELOS Holdings Corp (nTelos). In connection with this definitive agreement, we entered into a series of agreements with Shentel to, among other things, acquire certain assets such as spectrum, terminate our existing wholesale arrangement with nTelos, and amend our existing affiliate agreement with Shentel to primarily include the subscribers formerly under the wholesale arrangement with nTelos. The agreements also expanded the area in which Shentel provides wireless service to Sprint customers and provided for more favorable economic terms. In April 2016, we received regulatory approval and the transaction closed in May 2016. The total consideration for this transaction included $181 million , on a net present value basis, of notes payable to Shentel. Sprint will satisfy its obligations under the notes payable over an expected term of five to six years. FCC licenses acquired from Shentel had a total value of $85 million . $96 million of the total purchase was recorded in “Other, net” in the consolidated statements of comprehensive loss as a contract termination in the quarter ended June 30, 2016, which related to the termination of our pre-existing wholesale arrangement with nTelos. The remainder of our capital lease and other obligations are primarily for the use of wireless network equipment. Covenants Certain indentures and other agreements require compliance with various covenants, including covenants that limit the ability of the Company and its subsidiaries to sell all or substantially all of its assets, limit the ability of the Company and its subsidiaries to incur indebtedness and liens, and require that we maintain certain financial ratios, each as defined by the terms of the indentures, supplemental indentures and financing arrangements. As of December 31, 2016 , the Company was in compliance with all restrictive and financial covenants associated with its borrowings. A default under any of our borrowings could trigger defaults under certain of our other debt obligations, which in turn could result in the maturities being accelerated. Under our revolving bank credit facility and certain other agreements, we are currently restricted from paying cash dividends because our ratio of total indebtedness to adjusted EBITDA (each as defined in the applicable agreements) exceeds 2.5 to 1.0 . |
Severance and Exit Costs
Severance and Exit Costs | 9 Months Ended |
Dec. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Severance and Exit Costs | Severance and Exit Costs Severance and exit costs consist of lease exit costs primarily associated with tower and cell sites, access exit costs related to payments that will continue to be made under our backhaul access contracts for which we will no longer be receiving any economic benefit, and severance costs associated with reductions in our work force. The following provides the activity in the severance and exit costs liability included in "Accounts payable," "Accrued expenses and other current liabilities" and "Other liabilities" within the consolidated balance sheets: March 31, Net (Benefit) Expense Cash Payments and Other December 31, (in millions) Lease exit costs $ 338 $ (3 ) (1) $ (100 ) $ 235 Severance costs 150 15 (2) (145 ) 20 Access exit costs 37 20 (3) (24 ) 33 $ 525 $ 32 $ (269 ) $ 288 _________________ (1) For the three and nine-month periods ended December 31, 2016 , we recognized costs of $2 million (Wireless only) and a benefit of $3 million ( $5 million benefit Wireless, $2 million costs Wireline), respectively. The Wireless benefit for the nine-month period resulted from the reversal of certain lease exit cost reserves associated with the shutdown of the Clearwire WiMAX network on March 31, 2016. (2) For the three and nine-month periods ended December 31, 2016 , we recognized costs of $6 million (Wireless only) and $15 million (Wireless only), respectively. (3) For the three and nine-month periods ended December 31, 2016 , $11 million ( $6 million Wireless , $5 million Wireline) and $18 million ( $8 million Wireless, $10 million Wireline), respectively, were recognized as "Severance and exit costs." For the nine-month period ended December 31, 2016 , $2 million (Wireline only) was recognized as "Cost of services." We continually refine our network strategy and evaluate other potential network initiatives to improve the overall performance of our network. Additionally, a major cost reduction initiative is underway, which may include headcount reductions, among other actions, to reduce operating expenses and improve our operating cash flows. As a result of these ongoing activities, we may incur future material charges associated with lease and access exit costs, severance, asset impairments, and accelerated depreciation, among others. |
Income Taxes
Income Taxes | 9 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The differences that caused our effective income tax rates to differ from the 35% U.S. federal statutory rate for income taxes were as follows: Nine Months Ended 2016 2015 (in millions) Income tax benefit at the federal statutory rate $ 223 $ 460 Effect of: State income taxes, net of federal income tax effect 8 33 State law changes, net of federal income tax effect 3 23 Increase deferred tax liability on FCC licenses (46 ) — Tax benefit from organizational restructuring 42 — Change in federal and state valuation allowance (522 ) (647 ) Other, net 6 5 Income tax expense $ (286 ) $ (126 ) Effective income tax rate (44.9 )% (9.6 )% The realization of deferred tax assets, including net operating loss carryforwards, is dependent on the generation of future taxable income sufficient to realize the tax deductions, carryforwards and credits. However, our history of annual losses reduces our ability to rely on expectations of future income in evaluating the ability to realize our deferred tax assets. Valuation allowances on deferred tax assets are recognized if it is determined that it is more likely than not that the asset will not be realized. As a result, the Company recognized income tax expense to increase the valuation allowance by $522 million and $647 million during the nine-month periods ended December 31, 2016 and 2015 , respectively, on deferred tax assets primarily related to losses incurred during the period that were not currently realizable and expenses recorded during the period that were not currently deductible for income tax purposes. We do not expect to record significant tax benefits on future net operating losses until our circumstances justify the recognition of such benefits. We believe it is more likely than not that our remaining deferred income tax assets, net of the valuation allowance, will be realized based on current income tax laws and expectations of future taxable income stemming from the reversal of existing deferred tax liabilities. Uncertainties surrounding income tax law changes, shifts in operations between state taxing jurisdictions and future operating income levels may, however, affect the ultimate realization of all or some of these deferred income tax assets. Income tax expense of $286 million for the nine-month period ended December 31, 2016 was primarily attributable to taxable temporary differences from the tax amortization of FCC licenses and tax expense on pre-tax gains from spectrum license exchanges during the period, partially offset by tax benefits from the reversal of certain state income tax valuation allowance on deferred tax assets. As a result of organizational restructuring, which drove a sustained increase in the profitability of specific legal entities, we revised our estimate regarding the realizability of the involved entities’ deferred state tax assets and recorded a state tax benefit of $42 million . Additionally, in conjunction with the Spectrum Financing and resulting change in state taxability footprint, we recognized tax expense of $46 million to increase the deferred tax liability for the temporary differences between the carrying amounts of our FCC licenses for financial statement purposes and their tax bases. Income tax expense of $126 million for the nine-month period ended December 31, 2015 was primarily attributable to taxable temporary differences from the tax amortization of FCC licenses, partially offset by tax benefits recorded from changes in state income tax laws enacted during the period. FCC licenses are amortized over 15 years for income tax purposes but, because these licenses have an indefinite life, they are not amortized for financial statement reporting purposes. These temporary differences cannot be scheduled to reverse during the loss carryforward period against our deferred tax assets. As a result, a valuation allowance is recorded against our loss carryforward and other excess deferred tax assets resulting in a net deferred tax expense. As of December 31, 2016 and March 31, 2016 , we maintained unrecognized tax benefits of $176 million and $166 million , respectively. Cash paid for income taxes, net, was $34 million for each of the nine-month periods ended December 31, 2016 and 2015 . In March 2016, the FASB issued authoritative guidance on Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting which, in part, eliminates the additional paid-in capital pools and requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. The company has elected to early adopt this guidance effective April 1, 2016. The early adoption of this guidance did not have a material effect on our consolidated financial statements. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation, Claims and Assessments In March 2009, a stockholder brought suit, Bennett v. Sprint Nextel Corp. , in the U.S. District Court for the District of Kansas, alleging that Sprint Communications and three of its former officers violated Section 10(b) of the Exchange Act and Rule 10b-5 by failing adequately to disclose certain alleged operational difficulties subsequent to the Sprint-Nextel merger, and by purportedly issuing false and misleading statements regarding the write-down of goodwill. The district court granted final approval of a settlement in August 2015, which did not have a material impact to our financial statements. Five stockholder derivative suits related to this 2009 stockholder suit were filed against Sprint Communications and certain of its present and/or former officers and directors. The first, Murphy v. Forsee , was filed in state court in Kansas on April 8, 2009, was removed to federal court, and was stayed by the court pending resolution of the motion to dismiss the Bennett case; the second, Randolph v. Forsee , was filed on July 15, 2010 in state court in Kansas, was removed to federal court, and was remanded back to state court; the third, Ross-Williams v. Bennett, et al. , was filed in state court in Kansas on February 1, 2011; the fourth, Price v. Forsee, et al., was filed in state court in Kansas on April 15, 2011; and the fifth, Hartleib v. Forsee, et al ., was filed in federal court in Kansas on July 14, 2011. These cases were essentially stayed while the Bennett case was pending, and we have reached an agreement in principle to settle the matters, by agreeing to some governance provisions and by paying plaintiffs' attorneys fees in an immaterial amount. The court approved the settlement but reduced the plaintiff's attorneys fees; the attorneys fees issue is on appeal. On April 19, 2012, the New York Attorney General filed a complaint alleging that Sprint Communications has fraudulently failed to collect and pay more than $100 million in New York sales taxes on receipts from its sale of wireless telephone services since July 2005. The complaint also seeks recovery of triple damages under the False Claims Act, as well as penalties and interest. Sprint Communications moved to dismiss the complaint on June 14, 2012. On July 1, 2013, the court entered an order denying the motion to dismiss in large part, although it did dismiss certain counts or parts of certain counts. Sprint Communications appealed that order and the intermediate appellate court affirmed the order of the trial court. On October 20, 2015, the Court of Appeals of New York affirmed the decision of the appellate court that the tax statute requires us to collect and remit the disputed taxes. Our petition for certiorari to the U.S. Supreme Court on grounds of federal preemption was denied. We accrued $180 million during the year ended March 31, 2016 associated with this matter. We will continue to defend this matter vigorously and we do not expect the resolution of this matter to have a material adverse effect on our financial position or results of operations. Eight related stockholder derivative suits have been filed against Sprint Communications and certain of its current and former officers and directors. Each suit alleges generally that the individual defendants breached their fiduciary duties to Sprint Communications and its stockholders by allegedly permitting, and failing to disclose, the actions alleged in the suit filed by the New York Attorney General. One suit, filed by the Louisiana Municipal Police Employees Retirement System, was dismissed by a federal court. Two suits were filed in state court in Johnson County, Kansas and one of those suits was dismissed as premature; and five suits are pending in federal court in Kansas. The remaining Kansas suits have been stayed pending resolution of the Attorney General's suit. We do not expect the resolution of these matters to have a material adverse effect on our financial position or results of operations. Sprint Communications, Inc. is also a defendant in a complaint filed by stockholders of Clearwire Corporation asserting claims for breach of fiduciary duty by Sprint Communications, and related claims and otherwise challenging the Clearwire Acquisition. ACP Master, LTD, et al. v. Sprint Nextel Corp., et al. , was filed April 26, 2013, in Chancery Court in Delaware. Plaintiffs in the ACP Master, LTD suit have also filed suit requesting an appraisal of the fair value of their Clearwire stock. Trial of those cases took place in October and November, 2016, and the parties are in the process of submitting their post-trial briefings. We do not expect the resolution of these matters to have a material adverse effect on our financial position or results of operations. Sprint is currently involved in numerous court actions alleging that Sprint is infringing various patents. Most of these cases effectively seek only monetary damages. A small number of these cases are brought by companies that sell products and seek injunctive relief as well. These cases have progressed to various degrees and a small number may go to trial if they are not otherwise resolved. Adverse resolution of these cases could require us to pay significant damages, cease certain activities, or cease selling the relevant products and services. In many circumstances, we would be indemnified for monetary losses that we incur with respect to the actions of our suppliers or service providers. We do not expect the resolution of these cases to have a material adverse effect on our financial position or results of operations. In October 2013, the FCC Enforcement Bureau began to issue notices of apparent liability (NALs) to other Lifeline providers, imposing fines for intracarrier duplicate accounts identified by the government during its audit function. Those audits also identified a small percentage of potentially duplicative intracarrier accounts related to our Assurance Wireless business. No NAL has yet been issued with respect to Sprint and we do not know if one will be issued. Further, we are not able to reasonably estimate the amount of any claim for penalties that might be asserted. However, based on the information currently available, if a claim is asserted by the FCC, Sprint does not believe that any amount ultimately paid would be material to the Company’s results of operations or financial position. Various other suits, inquiries, proceedings and claims, either asserted or unasserted, including purported class actions typical for a large business enterprise and intellectual property matters, are possible or pending against us or our subsidiaries. During the nine-month period ended December 31, 2016 , we recorded a $103 million charge associated with a state tax matter which is presented in our consolidated statements of comprehensive loss within "Other, net". If our interpretation of certain laws or regulations, including those related to various federal or state matters such as sales, use or property taxes, or other charges were found to be mistaken, it could result in payments by us. While it is not possible to determine the ultimate disposition of each of these proceedings and whether they will be resolved consistent with our beliefs, we expect that the outcome of such proceedings, individually or in the aggregate, will not have a material adverse effect on our financial position or results of operations. Spectrum Reconfiguration Obligations In 2004, the FCC adopted a Report and Order that included new rules regarding interference in the 800 MHz band and a comprehensive plan to reconfigure the 800 MHz band. The Report and Order provides for the exchange of a portion of our 800 MHz FCC spectrum licenses, and requires us to fund the cost incurred by public safety systems and other incumbent licensees to reconfigure the 800 MHz spectrum band. Also, in exchange, we received licenses for 10 MHz of nationwide spectrum in the 1.9 GHz band. The minimum cash obligation is $2.8 billion under the Report and Order. We are, however, obligated to pay the full amount of the costs relating to the reconfiguration plan, even if those costs exceed $2.8 billion . As required under the terms of the Report and Order, a letter of credit has been secured to provide assurance that funds will be available to pay the relocation costs of the incumbent users of the 800 MHz spectrum. The letter of credit was initially $2.5 billion , but has been reduced during the course of the proceeding to $189 million as of December 31, 2016 . Since the inception of the program, we have incurred payments of approximately $3.5 billion directly attributable to our performance under the Report and Order, including approximately $15 million and $43 million during the three and nine-month periods ended December 31, 2016 , respectively. When incurred, substantially all costs are accounted for as additions to FCC licenses with the remainder as property, plant and equipment. Although costs incurred through December 31, 2016 have exceeded $2.8 billion , not all of those costs have been reviewed and accepted as eligible by the transition administrator. Completion of the 800 MHz band reconfiguration was initially required by June 26, 2008 and public safety reconfiguration is nearly complete across the country with the exception of the States of Arizona, California, Texas and New Mexico. The FCC continues to grant the remaining 800 MHz public safety licensees additional time to complete their band reconfigurations which, in turn, delays our access to our 800 MHz replacement channels in these areas. In the areas where band reconfiguration is complete, Sprint has received its replacement spectrum in the 800 MHz band and Sprint is deploying 3G CDMA and 4G LTE on this spectrum in combination with its spectrum in the 1.9 GHz and 2.5 GHz bands. |
Per Share Data
Per Share Data | 9 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Per Share Data | Per Share Data Basic net loss per common share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share adjusts basic net loss per common share, computed using the treasury stock method, for the effects of potentially dilutive common shares, if the effect is not antidilutive. Outstanding options and restricted stock units (exclusive of participating securities) that had no effect on our computation of dilutive weighted average number of shares outstanding as their effect would have been antidilutive were approximately 118 million shares and 83 million shares as of the periods ended December 31, 2016 and 2015 , respectively, in addition to 62 million total shares issuable under warrants, of which 55 million relate to shares issuable under the warrant held by SoftBank. The warrant was issued to SoftBank at the close of the merger with SoftBank and is exercisable at $5.25 per share at the option of SoftBank, in whole or in part, at any time on or prior to July 10, 2018. |
Segments
Segments | 9 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | Segments Sprint operates two reportable segments: Wireless and Wireline. • Wireless primarily includes retail, wholesale, and affiliate revenue from a wide array of wireless voice and data transmission services and equipment revenue from the sale of wireless devices (handsets and tablets) and accessories in the U.S., Puerto Rico and the U.S. Virgin Islands. • Wireline primarily includes revenue from domestic and international wireline voice and data communication services provided to other communications companies and targeted business subscribers, in addition to our Wireless segment. We define segment earnings as wireless or wireline operating (loss) income before other segment expenses such as depreciation, amortization, severance, exit costs, goodwill impairments, asset impairments, and other items, if any, solely and directly attributable to the segment representing items of a non-recurring or unusual nature. Expense and income items excluded from segment earnings are managed at the corporate level. Transactions between segments are generally accounted for based on market rates, which we believe approximate fair value. The Company generally re-establishes these rates at the beginning of each fiscal year. Over the past several years, there has been an industry-wide trend of lower rates due to increased competition from other wireline and wireless communications companies, as well as cable and Internet service providers. Segment financial information is as follows: Statement of Operations Information Wireless Wireline Corporate, Other and Eliminations Consolidated (in millions) Three Months Ended December 31, 2016 Net operating revenues $ 8,172 $ 372 $ 5 $ 8,549 Inter-segment revenues (1) — 125 (125 ) — Total segment operating expenses (5,775 ) (449 ) 125 (6,099 ) Segment earnings $ 2,397 $ 48 $ 5 2,450 Less: Depreciation (1,837 ) Amortization (255 ) Other, net (2) (47 ) Operating income 311 Interest expense (619 ) Other expense, net (60 ) Loss before income taxes $ (368 ) Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Three Months Ended December 31, 2015 Net operating revenues $ 7,670 $ 434 $ 3 $ 8,107 Inter-segment revenues (1) — 147 (147 ) — Total segment operating expenses (5,804 ) (548 ) 143 (6,209 ) Segment earnings $ 1,866 $ 33 $ (1 ) 1,898 Less: Depreciation (1,549 ) Amortization (316 ) Other, net (2) (230 ) Operating loss (197 ) Interest expense (546 ) Other income, net 4 Loss before income taxes $ (739 ) Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2016 Net operating revenues $ 23,620 $ 1,177 $ 11 $ 24,808 Inter-segment revenues (1) — 386 (386 ) — Total segment operating expenses (16,460 ) (1,473 ) 379 (17,554 ) Segment earnings $ 7,160 $ 90 $ 4 7,254 Less: Depreciation (5,227 ) Amortization (813 ) Other, net (2) 80 Operating income 1,294 Interest expense (1,864 ) Other expense, net (67 ) Loss before income taxes $ (637 ) Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2015 Net operating revenues $ 22,726 $ 1,372 $ 11 $ 24,109 Inter-segment revenues (1) — 448 (448 ) — Total segment operating expenses (16,807 ) (1,749 ) 435 (18,121 ) Segment earnings $ 5,919 $ 71 $ (2 ) 5,988 Less: Depreciation (4,202 ) Amortization (994 ) Other, net (2) (490 ) Operating income 302 Interest expense (1,630 ) Other income, net 13 Loss before income taxes $ (1,315 ) Other Information Wireless Wireline Corporate and Other Consolidated (in millions) Capital expenditures for the nine months ended December 31, 2016 $ 2,654 $ 74 $ 223 $ 2,951 Capital expenditures for the nine months ended December 31, 2015 $ 5,236 $ 205 $ 241 $ 5,682 _________________ (1) Inter-segment revenues consist primarily of wireline services provided to the Wireless segment for resale to, or use by, wireless subscribers. (2) Other, net for the three and nine-month periods ended December 31, 2016 consists of $19 million and $30 million expense, respectively, of severance and exit costs as well as a $28 million loss on disposal of property, plant and equipment related to cell site construction costs that are no longer recoverable as a result of changes in our network plans recognized in the three-month period ended December 31, 2016 . In addition, the nine-month period ended December 31, 2016 includes a $354 million non-cash gain related to spectrum license exchanges with other carriers, a $103 million charge related to a state tax matter, and $113 million of contract termination costs primarily related to the termination of our pre-existing wholesale arrangement with nTelos as a result of the Shentel transaction. Losses totaling $109 million and $340 million relating to the write-off of leased devices associated with lease cancellations were excluded from Other, net and included within Wireless segment earnings for the three and nine-month periods ended December 31, 2016 , respectively. Other, net for the three and nine-month periods ended December 31, 2015 consists of $209 million and $247 million , respectively, of severance and exit costs and $21 million and $178 million , respectively, of accruals for legal reserves related to various pending legal suits and proceedings. In addition, the nine-month period ended December 31, 2015 includes an $85 million loss on disposal of property, plant and equipment related to cell site construction costs that are no longer recoverable as a result of changes in our network plans and $20 million of income resulting from a revision to our estimate of a previously recorded reserve. Losses totaling approximately $143 million relating to the write-off of leased devices associated with lease cancellations of $78 million and the loss on sale of devices to MLS under the Handset Sale-Leaseback Tranche 1 transaction for $65 million were excluded from Other, net and included within Wireless segment earnings for the three and nine-month periods ended December 31, 2015 . Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2016 Wireless services $ 5,763 $ — $ — $ 5,763 Wireless equipment 2,226 — — 2,226 Voice — 153 (61 ) 92 Data — 41 (23 ) 18 Internet — 281 (38 ) 243 Other 183 22 2 207 Total net operating revenues $ 8,172 $ 497 $ (120 ) $ 8,549 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2015 Wireless services $ 6,058 $ — $ — $ 6,058 Wireless equipment 1,424 — — 1,424 Voice — 201 (82 ) 119 Data — 42 (17 ) 25 Internet — 317 (48 ) 269 Other 188 21 3 212 Total net operating revenues $ 7,670 $ 581 $ (144 ) $ 8,107 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2016 Wireless services $ 17,555 $ — $ — $ 17,555 Wireless equipment 5,556 — — 5,556 Voice — 506 (196 ) 310 Data — 127 (67 ) 60 Internet — 871 (119 ) 752 Other 509 59 7 575 Total net operating revenues $ 23,620 $ 1,563 $ (375 ) $ 24,808 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2015 Wireless services $ 18,631 $ — $ — $ 18,631 Wireless equipment 3,509 — — 3,509 Voice — 646 (249 ) 397 Data — 134 (55 ) 79 Internet — 968 (140 ) 828 Other 586 72 7 665 Total net operating revenues $ 22,726 $ 1,820 $ (437 ) $ 24,109 _______________ (1) Revenues eliminated in consolidation consist primarily of wireline services provided to the Wireless segment for resale to or use by wireless subscribers. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related-Party Transactions Sprint has entered into various arrangements with SoftBank or its controlled affiliates (SoftBank Parties) or with third parties to which SoftBank Parties are also parties, including for international wireless roaming, wireless and wireline call termination, real estate, logistical management, and other services. Brightstar We have arrangements with Brightstar US, Inc. (Brightstar), whereby Brightstar provides supply chain and inventory management services to us in our indirect channels and whereby Sprint may sell new and used devices and new accessories to Brightstar for its own purposes. We have provided a $1.0 billion credit line to Brightstar to facilitate certain of these arrangements. As a result, we shifted our concentration of credit risk away from our indirect channel partners to Brightstar. As Brightstar is a subsidiary of SoftBank, we expect SoftBank will provide the necessary support to ensure that Brightstar will fulfill its obligations to us under these agreements. However, we have no assurance that SoftBank will provide such support. The supply chain and inventory management arrangement provides, among other things, that Brightstar may purchase inventory from the OEMs or Sprint to sell directly to our indirect dealers. As compensation for these services, we remit per unit fees to Brightstar for each device sold to dealers or retailers in our indirect channels. During the three and nine-month periods ended December 31, 2016 and 2015 , we incurred fees under these arrangements totaling $15 million and $43 million , and $29 million and $82 million , respectively. We may also purchase new and used devices and accessories from Brightstar to be sold in our direct channels or to be used to fulfill service and repair needs. Amounts included in our consolidated financial statements associated with these arrangements with Brightstar were as follows: Consolidated balance sheets: December 31, March 31, (in millions) Accounts receivable $ 219 $ 197 Accounts payable $ 126 $ 96 Consolidated statements of comprehensive loss: Three Months Ended December 31, Nine Months Ended 2016 2015 2016 2015 (in millions) Equipment revenues $ 480 $ 598 $ 1,107 $ 1,375 Cost of products $ 403 $ 601 $ 1,021 $ 1,362 SoftBank In November 2015 and April 2016, Sprint entered into Handset Sale-Leaseback transactions with MLS, a company formed by a group of equity investors, including SoftBank, to sell and leaseback certain devices, which are currently being leased by our customers, for total cash proceeds of approximately $2.2 billion . SoftBank's equity investment in MLS totaled $79 million . Brightstar provides reverse logistics and remarketing services to MLS with respect to the devices. In December 2016, Handset Sale-Leaseback Tranche 1 was terminated and the associated devices were repurchased by Sprint from MLS. With the cash proceeds, MLS repurchased the equity units from its investors including SoftBank. As a result, SoftBank's remaining equity investment in MLS totaled $39 million . In April 2016, Sprint sold and leased back certain network equipment to Network LeaseCo. The network equipment acquired by Network LeaseCo, which is consolidated by us, was used by them as collateral to raise approximately $2.2 billion in borrowings from external investors, including $250 million from SoftBank. Principal and interest payments on the borrowings from the external investors will be repaid in staggered, unequal payments through January 2018 ( See Note 3. Funding Sources ) with the first principal payment of approximately $300 million due in March 2017 followed by the remaining $1.9 billion of principal payments due in fiscal year 2017. All other transactions under agreements with SoftBank Parties, in the aggregate, were immaterial through the period ended December 31, 2016 . |
Guarantor Financial Information
Guarantor Financial Information | 9 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Guarantor Financial Information | Guarantor Financial Information On September 11, 2013, Sprint Corporation issued $2.25 billion aggregate principal amount of 7.250% notes due 2021 and $4.25 billion aggregate principal amount of 7.875% notes due 2023 in a private placement transaction with registration rights. On December 12, 2013, Sprint Corporation issued $2.5 billion aggregate principal amount of 7.125% notes due 2024 in a private placement transaction with registration rights. Each of these issuances is fully and unconditionally guaranteed by Sprint Communications, Inc. (Subsidiary Guarantor), which is a 100% owned subsidiary of Sprint Corporation (Parent/Issuer). In connection with the foregoing, the registration rights agreements with respect to the notes required the Company and Sprint Communications, Inc. to use their reasonable best efforts to cause an offer to exchange the notes for a new issue of substantially identical exchange notes registered under the Securities Act of 1933. Accordingly, in November 2014, we completed an exchange offer for these notes in compliance with our registration obligations. We did not receive any proceeds from this exchange offer. In addition, on February 24, 2015, Sprint Corporation issued $1.5 billion aggregate principal amount of 7.625% notes due 2025, which are fully and unconditionally guaranteed by Sprint Communications, Inc. During the nine-month period ended December 31, 2016 , there was a non-cash equity contribution from the Subsidiary Guarantor to the non-guarantor subsidiaries primarily as a result of organizational restructuring for tax purposes of approximately $600 million . Under the Subsidiary Guarantor's revolving bank credit facility and certain other finance agreements, the Subsidiary Guarantor is currently restricted from paying cash dividends to the Parent/Issuer because the ratio of total indebtedness to adjusted EBITDA (each as defined in the applicable agreement) exceeds 2.5 to 1.0 . Sprint has a Receivables Facility providing for the sale of eligible wireless service, installment and certain future lease receivables. In November 2015, Sprint entered into the Tranche 1 transaction to sell and leaseback certain leased devices, which was subsequently terminated in December 2016. In April 2016, Sprint entered into the Tranche 2 transaction to sell and leaseback certain leased devices and a Network Equipment Sale-Leaseback to sell and leaseback certain network equipment. In connection with the Receivables Facility, Tranches 1 and 2 and the Network Equipment Sale-Leaseback, Sprint formed certain wholly-owned consolidated bankruptcy-remote SPEs and SPE Lessees that are included in the non-guarantor subsidiaries condensed consolidated financial information. Each SPE and SPE Lessee is a separate legal entity with its own separate creditors who will be entitled, prior to and upon the liquidation of the SPE or SPE Lessee, to be satisfied out of the SPE or SPE Lessee’s assets prior to any assets in the SPE and SPE Lessee becoming available to Sprint (see Note 3. Funding Sources). We have accounted for investments in subsidiaries using the equity method. Presented below is the condensed consolidating financial information. CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 3,117 $ 590 $ — $ 3,707 Short-term investments — 2,329 20 — 2,349 Accounts and notes receivable, net 195 1 1,235 (195 ) 1,236 Device and accessory inventory — — 1,296 — 1,296 Prepaid expenses and other current assets — 15 1,969 — 1,984 Total current assets 195 5,462 5,110 (195 ) 10,572 Investments in subsidiaries 18,988 23,932 — (42,920 ) — Property, plant and equipment, net — — 19,333 — 19,333 Due from consolidated affiliate 25 13,125 — (13,150 ) — Note receivable from consolidated affiliate 10,390 575 — (10,965 ) — Intangible assets Goodwill — — 6,579 — 6,579 FCC licenses and other — — 40,556 — 40,556 Definite-lived intangible assets, net — — 3,582 — 3,582 Other assets — 103 570 — 673 Total assets $ 29,598 $ 43,197 $ 75,730 $ (67,230 ) $ 81,295 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ — $ — $ 2,894 $ — $ 2,894 Accrued expenses and other current liabilities 212 560 3,612 (195 ) 4,189 Current portion of long-term debt, financing and capital lease obligations — 2,583 3,971 — 6,554 Total current liabilities 212 3,143 10,477 (195 ) 13,637 Long-term debt, financing and capital lease obligations 10,390 9,773 10,596 — 30,759 Deferred tax liabilities — — 14,238 — 14,238 Note payable due to consolidated affiliate — 10,390 575 (10,965 ) — Other liabilities — 903 2,762 — 3,665 Due to consolidated affiliate — — 13,150 (13,150 ) — Total liabilities 10,602 24,209 51,798 (24,310 ) 62,299 Commitments and contingencies Total stockholders' equity 18,996 18,988 23,932 (42,920 ) 18,996 Total liabilities and stockholders' equity $ 29,598 $ 43,197 $ 75,730 $ (67,230 ) $ 81,295 CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 2,154 $ 487 $ — $ 2,641 Accounts and notes receivable, net 87 27 1,099 (114 ) 1,099 Device and accessory inventory — — 1,173 — 1,173 Prepaid expenses and other current assets — 12 1,908 — 1,920 Total current assets 87 2,193 4,667 (114 ) 6,833 Investments in subsidiaries 19,783 23,129 — (42,912 ) — Property, plant and equipment, net — — 20,297 — 20,297 Due from consolidated affiliate 50 19,518 — (19,568 ) — Note receivable from consolidated affiliate 10,377 245 — (10,622 ) — Intangible assets Goodwill — — 6,575 — 6,575 FCC licenses and other — — 40,073 — 40,073 Definite-lived intangible assets, net — — 4,469 — 4,469 Other assets — 1,127 620 (1,019 ) 728 Total assets $ 30,297 $ 46,212 $ 76,701 $ (74,235 ) $ 78,975 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ — $ — $ 2,899 $ — $ 2,899 Accrued expenses and other current liabilities 137 531 3,820 (114 ) 4,374 Current portion of long-term debt, financing and capital lease obligations — 3,065 1,625 — 4,690 Total current liabilities 137 3,596 8,344 (114 ) 11,963 Long-term debt, financing and capital lease obligations 10,377 11,495 8,415 (1,019 ) 29,268 Deferred tax liabilities — — 13,959 — 13,959 Note payable due to consolidated affiliate — 10,377 245 (10,622 ) — Other liabilities — 961 3,041 — 4,002 Due to consolidated affiliate — — 19,568 (19,568 ) — Total liabilities 10,514 26,429 53,572 (31,323 ) 59,192 Commitments and contingencies Total stockholders' equity 19,783 19,783 23,129 (42,912 ) 19,783 Total liabilities and stockholders' equity $ 30,297 $ 46,212 $ 76,701 $ (74,235 ) $ 78,975 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 8,549 $ — $ 8,549 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 1,925 — 1,925 Cost of products (exclusive of depreciation and amortization included below) — — 1,985 — 1,985 Selling, general and administrative — — 2,080 — 2,080 Severance and exit costs — — 19 — 19 Depreciation — — 1,837 — 1,837 Amortization — — 255 — 255 Other, net — — 137 — 137 — — 8,238 — 8,238 Operating income — — 311 — 311 Other income (expense): Interest income 198 43 4 (233 ) 12 Interest expense (198 ) (409 ) (245 ) 233 (619 ) (Losses) earnings of subsidiaries (479 ) (38 ) — 517 — Other (expense) income, net — (75 ) 3 — (72 ) (479 ) (479 ) (238 ) 517 (679 ) (Loss) income before income taxes (479 ) (479 ) 73 517 (368 ) Income tax expense — — (111 ) — (111 ) Net (loss) income (479 ) (479 ) (38 ) 517 (479 ) Other comprehensive (loss) income (5 ) (5 ) (4 ) 9 (5 ) Comprehensive (loss) income $ (484 ) $ (484 ) $ (42 ) $ 526 $ (484 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended December 31, 2015 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 8,107 $ — $ 8,107 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 2,348 — 2,348 Cost of products (exclusive of depreciation and amortization included below) — — 1,589 — 1,589 Selling, general and administrative — — 2,129 — 2,129 Severance and exit costs — — 209 — 209 Depreciation — — 1,549 — 1,549 Amortization — — 316 — 316 Other, net — — 164 — 164 — — 8,304 — 8,304 Operating loss — — (197 ) — (197 ) Other income (expense): Interest income 198 39 2 (236 ) 3 Interest expense (198 ) (406 ) (178 ) 236 (546 ) (Losses) earnings of subsidiaries (838 ) (471 ) — 1,309 — Other income, net — — 1 — 1 (838 ) (838 ) (175 ) 1,309 (542 ) (Loss) income before income taxes (838 ) (838 ) (372 ) 1,309 (739 ) Income tax benefit (expense) 2 — (99 ) — (97 ) Net (loss) income (836 ) (838 ) (471 ) 1,309 (836 ) Other comprehensive (loss) income (7 ) (7 ) (4 ) 11 (7 ) Comprehensive (loss) income $ (843 ) $ (845 ) $ (475 ) $ 1,320 $ (843 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Nine Months Ended December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 24,808 $ — $ 24,808 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 6,125 — 6,125 Cost of products (exclusive of depreciation and amortization included below) — — 5,097 — 5,097 Selling, general and administrative — — 5,992 — 5,992 Severance and exit costs — — 30 — 30 Depreciation — — 5,227 — 5,227 Amortization — — 813 — 813 Other, net — — 230 — 230 — — 23,514 — 23,514 Operating income — — 1,294 — 1,294 Other income (expense): Interest income 593 105 13 (674 ) 37 Interest expense (593 ) (1,271 ) (674 ) 674 (1,864 ) (Losses) earnings of subsidiaries (923 ) 320 — 603 — Other expense, net — (77 ) (27 ) — (104 ) (923 ) (923 ) (688 ) 603 (1,931 ) (Loss) income before income taxes (923 ) (923 ) 606 603 (637 ) Income tax expense — — (286 ) — (286 ) Net (loss) income (923 ) (923 ) 320 603 (923 ) Other comprehensive income (loss) 2 2 3 (5 ) 2 Comprehensive (loss) income $ (921 ) $ (921 ) $ 323 $ 598 $ (921 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Nine Months Ended December 31, 2015 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 24,109 $ — $ 24,109 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 7,194 — 7,194 Cost of products (exclusive of depreciation and amortization included below) — — 4,244 — 4,244 Selling, general and administrative — — 6,540 — 6,540 Severance and exit costs — — 247 — 247 Depreciation — — 4,202 — 4,202 Amortization — — 994 — 994 Other, net — — 386 — 386 — — 23,807 — 23,807 Operating income — — 302 — 302 Other income (expense): Interest income 593 118 3 (707 ) 7 Interest expense (593 ) (1,220 ) (524 ) 707 (1,630 ) (Losses) earnings of subsidiaries (1,443 ) (341 ) — 1,784 — Other income, net — — 6 — 6 (1,443 ) (1,443 ) (515 ) 1,784 (1,617 ) (Loss) income before income taxes (1,443 ) (1,443 ) (213 ) 1,784 (1,315 ) Income tax benefit (expense) 2 — (128 ) — (126 ) Net (loss) income (1,441 ) (1,443 ) (341 ) 1,784 (1,441 ) Other comprehensive (loss) income (11 ) (11 ) (6 ) 17 (11 ) Comprehensive (loss) income $ (1,452 ) $ (1,454 ) $ (347 ) $ 1,801 $ (1,452 ) CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Cash flows from operating activities: Net cash (used in) provided by operating activities $ — $ (1,168 ) $ 4,186 $ (118 ) $ 2,900 Cash flows from investing activities: Capital expenditures - network and other — — (1,421 ) — (1,421 ) Capital expenditures - leased devices — — (1,530 ) — (1,530 ) Expenditures relating to FCC licenses — — (46 ) — (46 ) Proceeds from sales and maturities of short-term investments — 2,614 35 — 2,649 Purchases of short-term investments — (4,943 ) (55 ) — (4,998 ) Change in amounts due from/due to consolidated affiliates — 6,865 — (6,865 ) — Proceeds from sales of assets and FCC licenses — — 126 — 126 Intercompany note advance to consolidated affiliate — (392 ) — 392 — Proceeds from intercompany note advance to consolidated affiliate — 62 — (62 ) — Other, net — — 26 — 26 Net cash provided by (used in) investing activities — 4,206 (2,865 ) (6,535 ) (5,194 ) Cash flows from financing activities: Proceeds from debt and financings — — 6,830 — 6,830 Repayments of debt, financing and capital lease obligations — (2,000 ) (1,266 ) — (3,266 ) Debt financing costs — (110 ) (162 ) — (272 ) Intercompany dividends paid to parent — — (118 ) 118 — Change in amounts due from/due to consolidated affiliates — — (6,865 ) 6,865 — Intercompany note advance from parent — — 392 (392 ) — Repayments of intercompany note advance from parent — — (62 ) 62 — Other, net — 35 33 — 68 Net cash (used in) provided by financing activities — (2,075 ) (1,218 ) 6,653 3,360 Net increase in cash and cash equivalents — 963 103 — 1,066 Cash and cash equivalents, beginning of period — 2,154 487 — 2,641 Cash and cash equivalents, end of period $ — $ 3,117 $ 590 $ — $ 3,707 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended December 31, 2015 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Cash flows from operating activities: Net cash (used in) provided by operating activities $ — $ (1,029 ) $ 3,800 $ (168 ) $ 2,603 Cash flows from investing activities: Capital expenditures - network and other — — (3,958 ) — (3,958 ) Capital expenditures - leased devices — — (1,724 ) — (1,724 ) Expenditures relating to FCC licenses — — (75 ) — (75 ) Proceeds from sales and maturities of short-term investments — 317 60 — 377 Purchases of short-term investments — (197 ) (55 ) — (252 ) Change in amounts due from/due to consolidated affiliates 1 (568 ) — 567 — Proceeds from sales of assets and FCC licenses — — 36 — 36 Proceeds from sale-leaseback transaction — — 1,136 — 1,136 Intercompany note advance to consolidated affiliate — (159 ) — 159 — Proceeds from intercompany note advance to consolidated affiliate — 54 — (54 ) — Other, net — — (25 ) — (25 ) Net cash provided by (used in) investing activities 1 (553 ) (4,605 ) 672 (4,485 ) Cash flows from financing activities: Proceeds from debt and financings — 250 505 — 755 Repayments of debt, financing and capital lease obligations — (500 ) (227 ) — (727 ) Debt financing costs (1 ) — — — (1 ) Intercompany dividends paid to parent — — (168 ) 168 — Change in amounts due from/due to consolidated affiliates — — 567 (567 ) — Intercompany note advance from parent — — 159 (159 ) — Repayments of intercompany not advance from parent — — (54 ) 54 — Other, net — 10 10 — 20 Net cash (used in) provided by financing activities (1 ) (240 ) 792 (504 ) 47 Net decrease in cash and cash equivalents — (1,822 ) (13 ) — (1,835 ) Cash and cash equivalents, beginning of period — 3,492 518 — 4,010 Cash and cash equivalents, end of period $ — $ 1,670 $ 505 $ — $ 2,175 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events New Secured Term Loan and Revolving Credit Facility On February 3, 2017, we entered into a new credit agreement for $6.0 billion , consisting of a $4.0 billion , seven -year secured term loan that matures in February 2024 and a $2.0 billion secured revolving bank credit facility that expires in February 2021. The term loan has an interest rate equal to LIBOR plus 250 basis points and the bank facility has an interest rate equal to LIBOR plus a spread that varies depending on the Company's leverage ratio. The new credit facility replaced the $3.3 billion unsecured revolving bank credit facility that was due to expire in February 2018. Insurance Program Master Services Agreement Effective January 1, 2017, we entered into a new Master Services Agreement with a vendor to provide post-sale device support services (including device insurance) to subscribers. Under the new agreement, the vendor will be the primary obligor and bear the risk of loss with regards to claims and related costs. As a result, revenue will be accounted for and presented on a net basis, whereas historically the amounts were presented on a gross basis. Sprint will remit premiums to the vendor who will pay Sprint a monthly recurring commission per subscriber for the duration of the agreement. Accounts Receivable Facility On February 3, 2017, the Company executed certain amendments to the Receivables Facility. The maturity date was extended to November 2018 and Sprint obtained the right to repurchase, under certain conditions, the financial assets transferred to the conduits. As a result of adding the repurchase feature, Sprint gained effective control over the financial assets. Accordingly, all sales of wireless service and installment receivables to the conduits will be reflected as financings. All cash inflows and outflows under the Receivables Facility will be reported as financing activities in the consolidated statements of cash flows prospectively. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of carrying amount and estimated fair values of our exchangeable notes as well as current and long-term debt | The following table presents carrying amounts and estimated fair values of current and long-term debt: Carrying amount at December 31, 2016 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt $ 36,870 $ 29,457 $ 4,391 $ 4,758 $ 38,606 Carrying amount at March 31, 2016 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt $ 33,645 $ 21,757 $ 4,474 $ 2,130 $ 28,361 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | The following table presents the components of property, plant and equipment and the related accumulated depreciation: December 31, March 31, (in millions) Land $ 260 $ 260 Network equipment, site costs and related software 21,696 21,500 Buildings and improvements 808 798 Non-network internal use software, office equipment, leased devices and other 8,450 6,182 Construction in progress 1,460 1,249 Less: accumulated depreciation (13,341 ) (9,692 ) Property, plant and equipment, net $ 19,333 $ 20,297 |
Leased devices [Member] | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | The following table presents leased devices and the related accumulated depreciation: December 31, March 31, (in millions) Leased devices $ 7,099 $ 4,913 Less: accumulated depreciation (2,645 ) (1,267 ) Leased devices, net $ 4,454 $ 3,646 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Indefinite-Lived Intangible Assets | The following provides the activity of indefinite-lived intangible assets within the consolidated balance sheets: March 31, Net Additions December 31, (in millions) FCC licenses (1) $ 36,038 $ 483 $ 36,521 Trademarks 4,035 — 4,035 Goodwill 6,575 4 6,579 $ 46,648 $ 487 $ 47,135 _________________ (1) Net additions within FCC licenses includes $85 million of spectrum acquired from the Shentel transaction (see Note 8. Long-Term Debt, Financing and Capital Lease Obligations) and an increase from spectrum license exchanges described below during the nine-month period ended December 31, 2016 . |
Intangible Assets Subject to Amortization | December 31, 2016 March 31, 2016 Useful Lives Gross Accumulated Net Gross Accumulated Net (in millions) Customer relationships 4 to 8 years $ 6,923 $ (4,824 ) $ 2,099 $ 6,923 $ (4,045 ) $ 2,878 Other intangible assets: Favorable spectrum leases 23 years 870 (129 ) 741 881 (110 ) 771 Favorable tower leases 3 to 7 years 589 (367 ) 222 589 (302 ) 287 Trademarks 34 years 520 (55 ) 465 520 (43 ) 477 Other 4 to 10 years 90 (35 ) 55 83 (27 ) 56 Total other intangible assets 2,069 (586 ) 1,483 2,073 (482 ) 1,591 Total definite-lived intangible assets $ 8,992 $ (5,410 ) $ 3,582 $ 8,996 $ (4,527 ) $ 4,469 |
Long-Term Debt, Financing and25
Long-Term Debt, Financing and Capital Lease Obligations (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Long-term Debt and Capital Lease Obligations [Abstract] | |
Schedule of Long-term Debt Instruments | Interest Rates Maturities December 31, March 31, (in millions) Notes Senior notes Sprint Corporation 7.13 - 7.88% 2021 - 2025 $ 10,500 $ 10,500 Sprint Communications, Inc. 6.00 - 11.50% 2017 - 2022 7,280 9,280 Sprint Capital Corporation 6.88 - 8.75% 2019 - 2032 6,204 6,204 Senior secured notes Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC 3.36% 2021 3,500 — Guaranteed notes Sprint Communications, Inc. 7.00 - 9.00% 2018 - 2020 4,000 4,000 Secured notes Clearwire Communications LLC (1) 14.75% 2016 — 300 Exchangeable notes Clearwire Communications LLC (1)(2) 8.25% 2017 629 629 Credit facilities Bank credit facility 4.00% 2018 — — Export Development Canada (EDC) 4.48 - 6.23% 2017 - 2019 550 550 Secured equipment credit facilities 2.03 - 3.27% 2017 - 2021 586 805 Financing obligations, capital lease and other obligations 2.35 - 10.63% 2017 - 2024 3,881 1,093 Net premiums and debt financing costs 183 597 37,313 33,958 Less current portion (6,554 ) (4,690 ) Long-term debt, financing and capital lease obligations $ 30,759 $ 29,268 _________________ (1) Notes of Clearwire Communications LLC are also direct obligations of Clearwire Finance, Inc. and are guaranteed by certain Clearwire subsidiaries. (2) The $629 million Clearwire 8.25% Exchangeable Notes have both a par call and put on December 1, 2017 resulting in the balance being classified as a current debt obligation as of December 31, 2016. |
Severance and Exit Costs (Table
Severance and Exit Costs (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following provides the activity in the severance and exit costs liability included in "Accounts payable," "Accrued expenses and other current liabilities" and "Other liabilities" within the consolidated balance sheets: March 31, Net (Benefit) Expense Cash Payments and Other December 31, (in millions) Lease exit costs $ 338 $ (3 ) (1) $ (100 ) $ 235 Severance costs 150 15 (2) (145 ) 20 Access exit costs 37 20 (3) (24 ) 33 $ 525 $ 32 $ (269 ) $ 288 _________________ (1) For the three and nine-month periods ended December 31, 2016 , we recognized costs of $2 million (Wireless only) and a benefit of $3 million ( $5 million benefit Wireless, $2 million costs Wireline), respectively. The Wireless benefit for the nine-month period resulted from the reversal of certain lease exit cost reserves associated with the shutdown of the Clearwire WiMAX network on March 31, 2016. (2) For the three and nine-month periods ended December 31, 2016 , we recognized costs of $6 million (Wireless only) and $15 million (Wireless only), respectively. (3) For the three and nine-month periods ended December 31, 2016 , $11 million ( $6 million Wireless , $5 million Wireline) and $18 million ( $8 million Wireless, $10 million Wireline), respectively, were recognized as "Severance and exit costs." For the nine-month period ended December 31, 2016 , $2 million (Wireline only) was recognized as "Cost of services." |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Factors Causing Variation in Effective Tax Rate From US Federal Statutory Rate | The differences that caused our effective income tax rates to differ from the 35% U.S. federal statutory rate for income taxes were as follows: Nine Months Ended 2016 2015 (in millions) Income tax benefit at the federal statutory rate $ 223 $ 460 Effect of: State income taxes, net of federal income tax effect 8 33 State law changes, net of federal income tax effect 3 23 Increase deferred tax liability on FCC licenses (46 ) — Tax benefit from organizational restructuring 42 — Change in federal and state valuation allowance (522 ) (647 ) Other, net 6 5 Income tax expense $ (286 ) $ (126 ) Effective income tax rate (44.9 )% (9.6 )% |
Segments (Tables)
Segments (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Statement of Operations Information | Segment financial information is as follows: Statement of Operations Information Wireless Wireline Corporate, Other and Eliminations Consolidated (in millions) Three Months Ended December 31, 2016 Net operating revenues $ 8,172 $ 372 $ 5 $ 8,549 Inter-segment revenues (1) — 125 (125 ) — Total segment operating expenses (5,775 ) (449 ) 125 (6,099 ) Segment earnings $ 2,397 $ 48 $ 5 2,450 Less: Depreciation (1,837 ) Amortization (255 ) Other, net (2) (47 ) Operating income 311 Interest expense (619 ) Other expense, net (60 ) Loss before income taxes $ (368 ) Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Three Months Ended December 31, 2015 Net operating revenues $ 7,670 $ 434 $ 3 $ 8,107 Inter-segment revenues (1) — 147 (147 ) — Total segment operating expenses (5,804 ) (548 ) 143 (6,209 ) Segment earnings $ 1,866 $ 33 $ (1 ) 1,898 Less: Depreciation (1,549 ) Amortization (316 ) Other, net (2) (230 ) Operating loss (197 ) Interest expense (546 ) Other income, net 4 Loss before income taxes $ (739 ) Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2016 Net operating revenues $ 23,620 $ 1,177 $ 11 $ 24,808 Inter-segment revenues (1) — 386 (386 ) — Total segment operating expenses (16,460 ) (1,473 ) 379 (17,554 ) Segment earnings $ 7,160 $ 90 $ 4 7,254 Less: Depreciation (5,227 ) Amortization (813 ) Other, net (2) 80 Operating income 1,294 Interest expense (1,864 ) Other expense, net (67 ) Loss before income taxes $ (637 ) Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2015 Net operating revenues $ 22,726 $ 1,372 $ 11 $ 24,109 Inter-segment revenues (1) — 448 (448 ) — Total segment operating expenses (16,807 ) (1,749 ) 435 (18,121 ) Segment earnings $ 5,919 $ 71 $ (2 ) 5,988 Less: Depreciation (4,202 ) Amortization (994 ) Other, net (2) (490 ) Operating income 302 Interest expense (1,630 ) Other income, net 13 Loss before income taxes $ (1,315 ) Other Information Wireless Wireline Corporate and Other Consolidated (in millions) Capital expenditures for the nine months ended December 31, 2016 $ 2,654 $ 74 $ 223 $ 2,951 Capital expenditures for the nine months ended December 31, 2015 $ 5,236 $ 205 $ 241 $ 5,682 _________________ (1) Inter-segment revenues consist primarily of wireline services provided to the Wireless segment for resale to, or use by, wireless subscribers. (2) Other, net for the three and nine-month periods ended December 31, 2016 consists of $19 million and $30 million expense, respectively, of severance and exit costs as well as a $28 million loss on disposal of property, plant and equipment related to cell site construction costs that are no longer recoverable as a result of changes in our network plans recognized in the three-month period ended December 31, 2016 . In addition, the nine-month period ended December 31, 2016 includes a $354 million non-cash gain related to spectrum license exchanges with other carriers, a $103 million charge related to a state tax matter, and $113 million of contract termination costs primarily related to the termination of our pre-existing wholesale arrangement with nTelos as a result of the Shentel transaction. Losses totaling $109 million and $340 million relating to the write-off of leased devices associated with lease cancellations were excluded from Other, net and included within Wireless segment earnings for the three and nine-month periods ended December 31, 2016 , respectively. Other, net for the three and nine-month periods ended December 31, 2015 consists of $209 million and $247 million , respectively, of severance and exit costs and $21 million and $178 million , respectively, of accruals for legal reserves related to various pending legal suits and proceedings. In addition, the nine-month period ended December 31, 2015 includes an $85 million loss on disposal of property, plant and equipment related to cell site construction costs that are no longer recoverable as a result of changes in our network plans and $20 million of income resulting from a revision to our estimate of a previously recorded reserve. Losses totaling approximately $143 million relating to the write-off of leased devices associated with lease cancellations of $78 million and the loss on sale of devices to MLS under the Handset Sale-Leaseback Tranche 1 transaction for $65 million were excluded from Other, net and included within Wireless segment earnings for the three and nine-month periods ended December 31, 2015 . |
Operating Revenues by Service and Products | Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2016 Wireless services $ 5,763 $ — $ — $ 5,763 Wireless equipment 2,226 — — 2,226 Voice — 153 (61 ) 92 Data — 41 (23 ) 18 Internet — 281 (38 ) 243 Other 183 22 2 207 Total net operating revenues $ 8,172 $ 497 $ (120 ) $ 8,549 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2015 Wireless services $ 6,058 $ — $ — $ 6,058 Wireless equipment 1,424 — — 1,424 Voice — 201 (82 ) 119 Data — 42 (17 ) 25 Internet — 317 (48 ) 269 Other 188 21 3 212 Total net operating revenues $ 7,670 $ 581 $ (144 ) $ 8,107 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2016 Wireless services $ 17,555 $ — $ — $ 17,555 Wireless equipment 5,556 — — 5,556 Voice — 506 (196 ) 310 Data — 127 (67 ) 60 Internet — 871 (119 ) 752 Other 509 59 7 575 Total net operating revenues $ 23,620 $ 1,563 $ (375 ) $ 24,808 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2015 Wireless services $ 18,631 $ — $ — $ 18,631 Wireless equipment 3,509 — — 3,509 Voice — 646 (249 ) 397 Data — 134 (55 ) 79 Internet — 968 (140 ) 828 Other 586 72 7 665 Total net operating revenues $ 22,726 $ 1,820 $ (437 ) $ 24,109 _______________ (1) Revenues eliminated in consolidation consist primarily of wireline services provided to the Wireless segment for resale to or use by wireless subscribers. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Brightstar [Member] | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions [Table Text Block] | Amounts included in our consolidated financial statements associated with these arrangements with Brightstar were as follows: Consolidated balance sheets: December 31, March 31, (in millions) Accounts receivable $ 219 $ 197 Accounts payable $ 126 $ 96 Consolidated statements of comprehensive loss: Three Months Ended December 31, Nine Months Ended 2016 2015 2016 2015 (in millions) Equipment revenues $ 480 $ 598 $ 1,107 $ 1,375 Cost of products $ 403 $ 601 $ 1,021 $ 1,362 |
Guarantor Financial Informati30
Guarantor Financial Information (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 3,117 $ 590 $ — $ 3,707 Short-term investments — 2,329 20 — 2,349 Accounts and notes receivable, net 195 1 1,235 (195 ) 1,236 Device and accessory inventory — — 1,296 — 1,296 Prepaid expenses and other current assets — 15 1,969 — 1,984 Total current assets 195 5,462 5,110 (195 ) 10,572 Investments in subsidiaries 18,988 23,932 — (42,920 ) — Property, plant and equipment, net — — 19,333 — 19,333 Due from consolidated affiliate 25 13,125 — (13,150 ) — Note receivable from consolidated affiliate 10,390 575 — (10,965 ) — Intangible assets Goodwill — — 6,579 — 6,579 FCC licenses and other — — 40,556 — 40,556 Definite-lived intangible assets, net — — 3,582 — 3,582 Other assets — 103 570 — 673 Total assets $ 29,598 $ 43,197 $ 75,730 $ (67,230 ) $ 81,295 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ — $ — $ 2,894 $ — $ 2,894 Accrued expenses and other current liabilities 212 560 3,612 (195 ) 4,189 Current portion of long-term debt, financing and capital lease obligations — 2,583 3,971 — 6,554 Total current liabilities 212 3,143 10,477 (195 ) 13,637 Long-term debt, financing and capital lease obligations 10,390 9,773 10,596 — 30,759 Deferred tax liabilities — — 14,238 — 14,238 Note payable due to consolidated affiliate — 10,390 575 (10,965 ) — Other liabilities — 903 2,762 — 3,665 Due to consolidated affiliate — — 13,150 (13,150 ) — Total liabilities 10,602 24,209 51,798 (24,310 ) 62,299 Commitments and contingencies Total stockholders' equity 18,996 18,988 23,932 (42,920 ) 18,996 Total liabilities and stockholders' equity $ 29,598 $ 43,197 $ 75,730 $ (67,230 ) $ 81,295 CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 2,154 $ 487 $ — $ 2,641 Accounts and notes receivable, net 87 27 1,099 (114 ) 1,099 Device and accessory inventory — — 1,173 — 1,173 Prepaid expenses and other current assets — 12 1,908 — 1,920 Total current assets 87 2,193 4,667 (114 ) 6,833 Investments in subsidiaries 19,783 23,129 — (42,912 ) — Property, plant and equipment, net — — 20,297 — 20,297 Due from consolidated affiliate 50 19,518 — (19,568 ) — Note receivable from consolidated affiliate 10,377 245 — (10,622 ) — Intangible assets Goodwill — — 6,575 — 6,575 FCC licenses and other — — 40,073 — 40,073 Definite-lived intangible assets, net — — 4,469 — 4,469 Other assets — 1,127 620 (1,019 ) 728 Total assets $ 30,297 $ 46,212 $ 76,701 $ (74,235 ) $ 78,975 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ — $ — $ 2,899 $ — $ 2,899 Accrued expenses and other current liabilities 137 531 3,820 (114 ) 4,374 Current portion of long-term debt, financing and capital lease obligations — 3,065 1,625 — 4,690 Total current liabilities 137 3,596 8,344 (114 ) 11,963 Long-term debt, financing and capital lease obligations 10,377 11,495 8,415 (1,019 ) 29,268 Deferred tax liabilities — — 13,959 — 13,959 Note payable due to consolidated affiliate — 10,377 245 (10,622 ) — Other liabilities — 961 3,041 — 4,002 Due to consolidated affiliate — — 19,568 (19,568 ) — Total liabilities 10,514 26,429 53,572 (31,323 ) 59,192 Commitments and contingencies Total stockholders' equity 19,783 19,783 23,129 (42,912 ) 19,783 Total liabilities and stockholders' equity $ 30,297 $ 46,212 $ 76,701 $ (74,235 ) $ 78,975 |
Condensed Income Statement | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 8,549 $ — $ 8,549 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 1,925 — 1,925 Cost of products (exclusive of depreciation and amortization included below) — — 1,985 — 1,985 Selling, general and administrative — — 2,080 — 2,080 Severance and exit costs — — 19 — 19 Depreciation — — 1,837 — 1,837 Amortization — — 255 — 255 Other, net — — 137 — 137 — — 8,238 — 8,238 Operating income — — 311 — 311 Other income (expense): Interest income 198 43 4 (233 ) 12 Interest expense (198 ) (409 ) (245 ) 233 (619 ) (Losses) earnings of subsidiaries (479 ) (38 ) — 517 — Other (expense) income, net — (75 ) 3 — (72 ) (479 ) (479 ) (238 ) 517 (679 ) (Loss) income before income taxes (479 ) (479 ) 73 517 (368 ) Income tax expense — — (111 ) — (111 ) Net (loss) income (479 ) (479 ) (38 ) 517 (479 ) Other comprehensive (loss) income (5 ) (5 ) (4 ) 9 (5 ) Comprehensive (loss) income $ (484 ) $ (484 ) $ (42 ) $ 526 $ (484 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended December 31, 2015 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 8,107 $ — $ 8,107 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 2,348 — 2,348 Cost of products (exclusive of depreciation and amortization included below) — — 1,589 — 1,589 Selling, general and administrative — — 2,129 — 2,129 Severance and exit costs — — 209 — 209 Depreciation — — 1,549 — 1,549 Amortization — — 316 — 316 Other, net — — 164 — 164 — — 8,304 — 8,304 Operating loss — — (197 ) — (197 ) Other income (expense): Interest income 198 39 2 (236 ) 3 Interest expense (198 ) (406 ) (178 ) 236 (546 ) (Losses) earnings of subsidiaries (838 ) (471 ) — 1,309 — Other income, net — — 1 — 1 (838 ) (838 ) (175 ) 1,309 (542 ) (Loss) income before income taxes (838 ) (838 ) (372 ) 1,309 (739 ) Income tax benefit (expense) 2 — (99 ) — (97 ) Net (loss) income (836 ) (838 ) (471 ) 1,309 (836 ) Other comprehensive (loss) income (7 ) (7 ) (4 ) 11 (7 ) Comprehensive (loss) income $ (843 ) $ (845 ) $ (475 ) $ 1,320 $ (843 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Nine Months Ended December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 24,808 $ — $ 24,808 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 6,125 — 6,125 Cost of products (exclusive of depreciation and amortization included below) — — 5,097 — 5,097 Selling, general and administrative — — 5,992 — 5,992 Severance and exit costs — — 30 — 30 Depreciation — — 5,227 — 5,227 Amortization — — 813 — 813 Other, net — — 230 — 230 — — 23,514 — 23,514 Operating income — — 1,294 — 1,294 Other income (expense): Interest income 593 105 13 (674 ) 37 Interest expense (593 ) (1,271 ) (674 ) 674 (1,864 ) (Losses) earnings of subsidiaries (923 ) 320 — 603 — Other expense, net — (77 ) (27 ) — (104 ) (923 ) (923 ) (688 ) 603 (1,931 ) (Loss) income before income taxes (923 ) (923 ) 606 603 (637 ) Income tax expense — — (286 ) — (286 ) Net (loss) income (923 ) (923 ) 320 603 (923 ) Other comprehensive income (loss) 2 2 3 (5 ) 2 Comprehensive (loss) income $ (921 ) $ (921 ) $ 323 $ 598 $ (921 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Nine Months Ended December 31, 2015 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues $ — $ — $ 24,109 $ — $ 24,109 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 7,194 — 7,194 Cost of products (exclusive of depreciation and amortization included below) — — 4,244 — 4,244 Selling, general and administrative — — 6,540 — 6,540 Severance and exit costs — — 247 — 247 Depreciation — — 4,202 — 4,202 Amortization — — 994 — 994 Other, net — — 386 — 386 — — 23,807 — 23,807 Operating income — — 302 — 302 Other income (expense): Interest income 593 118 3 (707 ) 7 Interest expense (593 ) (1,220 ) (524 ) 707 (1,630 ) (Losses) earnings of subsidiaries (1,443 ) (341 ) — 1,784 — Other income, net — — 6 — 6 (1,443 ) (1,443 ) (515 ) 1,784 (1,617 ) (Loss) income before income taxes (1,443 ) (1,443 ) (213 ) 1,784 (1,315 ) Income tax benefit (expense) 2 — (128 ) — (126 ) Net (loss) income (1,441 ) (1,443 ) (341 ) 1,784 (1,441 ) Other comprehensive (loss) income (11 ) (11 ) (6 ) 17 (11 ) Comprehensive (loss) income $ (1,452 ) $ (1,454 ) $ (347 ) $ 1,801 $ (1,452 ) |
Condensed Cash Flow Statement | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended December 31, 2016 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Cash flows from operating activities: Net cash (used in) provided by operating activities $ — $ (1,168 ) $ 4,186 $ (118 ) $ 2,900 Cash flows from investing activities: Capital expenditures - network and other — — (1,421 ) — (1,421 ) Capital expenditures - leased devices — — (1,530 ) — (1,530 ) Expenditures relating to FCC licenses — — (46 ) — (46 ) Proceeds from sales and maturities of short-term investments — 2,614 35 — 2,649 Purchases of short-term investments — (4,943 ) (55 ) — (4,998 ) Change in amounts due from/due to consolidated affiliates — 6,865 — (6,865 ) — Proceeds from sales of assets and FCC licenses — — 126 — 126 Intercompany note advance to consolidated affiliate — (392 ) — 392 — Proceeds from intercompany note advance to consolidated affiliate — 62 — (62 ) — Other, net — — 26 — 26 Net cash provided by (used in) investing activities — 4,206 (2,865 ) (6,535 ) (5,194 ) Cash flows from financing activities: Proceeds from debt and financings — — 6,830 — 6,830 Repayments of debt, financing and capital lease obligations — (2,000 ) (1,266 ) — (3,266 ) Debt financing costs — (110 ) (162 ) — (272 ) Intercompany dividends paid to parent — — (118 ) 118 — Change in amounts due from/due to consolidated affiliates — — (6,865 ) 6,865 — Intercompany note advance from parent — — 392 (392 ) — Repayments of intercompany note advance from parent — — (62 ) 62 — Other, net — 35 33 — 68 Net cash (used in) provided by financing activities — (2,075 ) (1,218 ) 6,653 3,360 Net increase in cash and cash equivalents — 963 103 — 1,066 Cash and cash equivalents, beginning of period — 2,154 487 — 2,641 Cash and cash equivalents, end of period $ — $ 3,117 $ 590 $ — $ 3,707 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended December 31, 2015 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Cash flows from operating activities: Net cash (used in) provided by operating activities $ — $ (1,029 ) $ 3,800 $ (168 ) $ 2,603 Cash flows from investing activities: Capital expenditures - network and other — — (3,958 ) — (3,958 ) Capital expenditures - leased devices — — (1,724 ) — (1,724 ) Expenditures relating to FCC licenses — — (75 ) — (75 ) Proceeds from sales and maturities of short-term investments — 317 60 — 377 Purchases of short-term investments — (197 ) (55 ) — (252 ) Change in amounts due from/due to consolidated affiliates 1 (568 ) — 567 — Proceeds from sales of assets and FCC licenses — — 36 — 36 Proceeds from sale-leaseback transaction — — 1,136 — 1,136 Intercompany note advance to consolidated affiliate — (159 ) — 159 — Proceeds from intercompany note advance to consolidated affiliate — 54 — (54 ) — Other, net — — (25 ) — (25 ) Net cash provided by (used in) investing activities 1 (553 ) (4,605 ) 672 (4,485 ) Cash flows from financing activities: Proceeds from debt and financings — 250 505 — 755 Repayments of debt, financing and capital lease obligations — (500 ) (227 ) — (727 ) Debt financing costs (1 ) — — — (1 ) Intercompany dividends paid to parent — — (168 ) 168 — Change in amounts due from/due to consolidated affiliates — — 567 (567 ) — Intercompany note advance from parent — — 159 (159 ) — Repayments of intercompany not advance from parent — — (54 ) 54 — Other, net — 10 10 — 20 Net cash (used in) provided by financing activities (1 ) (240 ) 792 (504 ) 47 Net decrease in cash and cash equivalents — (1,822 ) (13 ) — (1,835 ) Cash and cash equivalents, beginning of period — 3,492 518 — 4,010 Cash and cash equivalents, end of period $ — $ 1,670 $ 505 $ — $ 2,175 |
Funding Sources (Details)
Funding Sources (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | May 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | |||||
Sale Leaseback Transaction, Net Book Value | $ 1,200 | $ 447 | $ 1,300 | ||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | $ 1,136 | |||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 600 | ||||
MLS 2nd Tranche [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Sale Leaseback Transaction, Net Book Value | 554 | $ 1,300 | |||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | $ 1,100 | ||||
Network Sale-Leaseback [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Sale Leaseback Transaction, Net Book Value | 3,000 | $ 2,500 | |||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 2,200 |
Accounts Receivable Facility (D
Accounts Receivable Facility (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | Nov. 30, 2015 | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Receivables Facility, maximum amount available based on receivables sold to investors, percent | 50.00% | |||
Installment Lease Receivables, Net Book Value | $ 1,000 | |||
Proceeds from Accounts Receivable Securitization | 1,800 | |||
Deferred purchase price from sale of receivables | (220) | $ 2,048 | ||
cash paid to purchasers under receivables facility | 185 | |||
Financing Receivable [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Cash received for sale of receivables under receivables facility | 625 | |||
Cash Flows Between Transferor and Transferee, Proceeds from Collections Reinvested in Revolving Period Transfers | 660 | |||
Accounts Receivable [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Maximum Funding Limit | $ 4,300 | |||
Receivables Facility, Amount of Funds Available | 6 | |||
Deferred purchase price from sale of receivables | $ 1,400 | $ 1,200 |
Funding Sources Handset Sale-Le
Funding Sources Handset Sale-Leaseback (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2016 | Apr. 30, 2016 | Nov. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | May 31, 2016 | Mar. 31, 2016 | Nov. 19, 2015 | |
Sale Leaseback Transaction [Line Items] | |||||||||
Sale Leaseback Transaction, Net Book Value | $ 447 | $ 447 | $ 447 | $ 1,300 | $ 1,200 | ||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | $ 0 | 1,136 | |||||||
Document Period End Date | Dec. 31, 2016 | ||||||||
Loss on disposition of property, plant and equipment | 28 | (85) | |||||||
Leased handset [Member] | |||||||||
Sale Leaseback Transaction [Line Items] | |||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | $ 1,100 | ||||||||
Receivables from sale-leaseback | $ 126 | ||||||||
Property, Plant and Equipment, Additions | 477 | ||||||||
Additions to Other Assets, Amount | 16 | ||||||||
Sale Leaseback Transaction, Rent Expense | 117 | $ 494 | |||||||
Sale Leaseback Transaction, Cash Payment For Retirement | 371 | ||||||||
Sale Leaseback Transaction, Monthly Rental Payments | 60 | ||||||||
MLS 2nd Tranche [Member] | |||||||||
Sale Leaseback Transaction [Line Items] | |||||||||
Sale Leaseback Transaction, Net Book Value | 554 | 554 | 554 | $ 1,300 | |||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | $ 1,100 | ||||||||
Receivables from sale-leaseback | $ 186 | ||||||||
Handset Sale-Leaseback Tranche 2 [Member] | |||||||||
Sale Leaseback Transaction [Line Items] | |||||||||
Sale Leaseback Transaction, Net Book Value | $ 725 | $ 725 | $ 725 | ||||||
Loss on sale of devices to MLS under Tranche 1 [Member] | |||||||||
Sale Leaseback Transaction [Line Items] | |||||||||
Loss on disposition of property, plant and equipment | $ 65 |
Funding Sources Network LeaseCo
Funding Sources Network LeaseCo (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | ||
Apr. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Sale Leaseback Transaction, Net Book Value | $ 1,200 | $ 447 | $ 1,300 | |
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 600 | |||
Network Sale-Leaseback [Member] | ||||
Sale Leaseback Transaction, Net Book Value | $ 3,000 | 2,500 | ||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 2,200 | |||
Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months | 300 | |||
Long-term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | $ 1,900 |
Funding Sources Spectrum Financ
Funding Sources Spectrum Financing (Details) - USD ($) $ in Billions | 1 Months Ended | |
Oct. 31, 2016 | Dec. 31, 2016 | |
Secured Debt [Member] | Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument face amount | $ 3.5 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | 3.36% |
Debt Instrument, Term | 5 years | |
Secured Debt [Member] | Spectrum Financing [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maximum Borrowing Capacity | $ 7 | |
Debt Instrument, Additional Borrowings Available | 3.5 | |
Unsecured Debt [Member] | Financing Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Repurchased Face Amount | $ 2.5 | |
Spectrum Assets [Member] | ||
Debt Instrument [Line Items] | ||
Concentration Risk, Percentage | 14.00% |
Financial Instruments (Narrativ
Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Dec. 31, 2016 | May 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Sale Leaseback Transaction [Line Items] | ||||
Sale Leaseback Transaction, Net Book Value | $ 447 | $ 1,200 | $ 1,300 | |
Repayments of Accounts Receivable Securitization | 502 | |||
Short-term Investments | $ 2,349 | 0 | ||
Document Period End Date | Dec. 31, 2016 | |||
Marketable Securities, Equity Securities | $ 50 | $ 46 | ||
MLS 2nd Tranche [Member] | ||||
Sale Leaseback Transaction [Line Items] | ||||
Sale Leaseback Transaction, Net Book Value | 554 | $ 1,300 | ||
Sale Leaseback Transaction, Current Period Gain Recognized | $ 30 |
Property, Plant and Equipment37
Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||||
Increase (Decrease) in Accounts Payable | $ 325 | $ 763 | |||
Sale Leaseback Transaction, Net Book Value | $ 447 | $ 1,300 | 447 | 1,300 | $ 1,200 |
Depreciation | 1,837 | 1,549 | 5,227 | 4,202 | |
Loss on Disposition of Property Plant Equipment | 137 | $ 368 | 228 | ||
Document Period End Date | Dec. 31, 2016 | ||||
Leased devices [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Increase (Decrease) in Accounts Payable | $ 166 | 306 | |||
Increase (Decrease) in Inventories | 2,300 | 2,600 | |||
Depreciation | 837 | 535 | 2,200 | 1,231 | |
Wireline [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 233 | ||||
Write-off leased devices [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Loss on Disposition of Property Plant Equipment | $ (109) | $ 78 | $ (340) | $ 163 |
Financial Instruments (Estimate
Financial Instruments (Estimated Fair Value of Debt, Financing and Capital Lease Obligations) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Mar. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Current and long-term debt, financing and capital lease obligations, Carrying amount | $ 36,870 | $ 33,645 |
Liabilities, Fair Value Disclosure, Nonrecurring | 38,606 | 28,361 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | 29,457 | 21,757 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | 4,391 | 4,474 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | $ 4,758 | $ 2,130 |
Property, Plant and Equipment39
Property, Plant and Equipment (Components of Property Plant and Equipment) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2016 | Mar. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Document Period End Date | Dec. 31, 2016 | |
Less accumulated depreciation | $ (13,341) | $ (9,692) |
Property, plant and equipment, net | 19,333 | 20,297 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 260 | 260 |
Network equipment, site costs and related software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 21,696 | 21,500 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 808 | 798 |
Non-network internal use software, office equipment, leased devices and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 8,450 | 6,182 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Construction in progress | $ 1,460 | $ 1,249 |
Property, Plant and Equipment40
Property, Plant and Equipment (Components of Property Plant and Equipment, Specifically Leased Devices) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2016 | Mar. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Document Period End Date | Dec. 31, 2016 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ (13,341) | $ (9,692) |
Property, plant and equipment, net | 19,333 | 20,297 |
Leased devices [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 7,099 | 4,913 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (2,645) | (1,267) |
Property, plant and equipment, net | $ 4,454 | $ 3,646 |
Intangible Assets (Indefinite-L
Intangible Assets (Indefinite-Lived Intangible Assets) (Details) $ in Millions | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Indefinite-lived Intangible Assets [Line Items] | |
Indefinite-lived Intangible Assets, Period Start | $ 40,073 |
Indefinite-lived Intangible Assets, Period End | 40,556 |
Goodwill, beginning balance | 6,575 |
Goodwill, Period Increase (Decrease) | 4 |
Goodwill, ending balance | 6,579 |
Total indefinite-lived intangible assets including FCC licenses, Trademarks, Goodwill, beginning balance | 46,648 |
Indefinite lived intangible assets period increase decrease | 487 |
Total indefinite-lived intangible assets including FCC licenses, Trademarks, Goodwill, ending balance | 47,135 |
FCC Licenses [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Indefinite-lived Intangible Assets, Period Start | 36,038 |
Indefinite-lived Intangible Assets, Period Increase (Decrease) | 483 |
Indefinite-lived Intangible Assets, Period End | 36,521 |
Indefinite-lived Intangible Assets Acquired | 85 |
Trademarks [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Indefinite-lived Intangible Assets, Period Start | 4,035 |
Indefinite-lived Intangible Assets, Period Increase (Decrease) | 0 |
Indefinite-lived Intangible Assets, Period End | $ 4,035 |
Intangible Assets (Intangible A
Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2016 | Mar. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Document Period End Date | Dec. 31, 2016 | |
Gross Carrying Value | $ 8,992 | $ 8,996 |
Accumulated Amortization | (5,410) | (4,527) |
Net Carrying Value | 3,582 | 4,469 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 6,923 | 6,923 |
Accumulated Amortization | (4,824) | (4,045) |
Net Carrying Value | 2,099 | 2,878 |
Favorable spectrum leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 870 | 881 |
Accumulated Amortization | (129) | (110) |
Net Carrying Value | 741 | 771 |
Favorable tower leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 589 | 589 |
Accumulated Amortization | (367) | (302) |
Net Carrying Value | 222 | 287 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 520 | 520 |
Accumulated Amortization | (55) | (43) |
Net Carrying Value | 465 | 477 |
Other Finite Lived Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 90 | 83 |
Accumulated Amortization | (35) | (27) |
Net Carrying Value | 55 | 56 |
Finite Lived Intangible Assets Excluding Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 2,069 | 2,073 |
Accumulated Amortization | (586) | (482) |
Net Carrying Value | $ 1,483 | $ 1,591 |
Minimum [Member] | Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 4 years | |
Minimum [Member] | Favorable tower leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Minimum [Member] | Other Finite Lived Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 4 years | |
Maximum [Member] | Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 8 years | |
Maximum [Member] | Favorable spectrum leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 23 years | |
Maximum [Member] | Favorable tower leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | |
Maximum [Member] | Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 34 years | |
Maximum [Member] | Other Finite Lived Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Intangible Assets (Narrative) (
Intangible Assets (Narrative) (Details) $ in Millions | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Document Period End Date | Dec. 31, 2016 |
Other, Net [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Gain (Loss) on Disposition of Intangible Assets | $ 354 |
Accounts Payable (Details)
Accounts Payable (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Mar. 31, 2016 |
Accounts Payable [Abstract] | ||
Checks Issued In Excess Of Associated Bank Balances But Not Yet Presented For Collection | $ 83 | $ 66 |
Long-Term Debt, Financing and45
Long-Term Debt, Financing and Capital Lease Obligations (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Millions | 3 Months Ended | |||||
Mar. 31, 2016 | Dec. 31, 2016 | Dec. 01, 2016 | Oct. 31, 2016 | Dec. 31, 2015 | Jul. 10, 2013 | |
Debt Instrument [Line Items] | ||||||
Debt Instrument, Unamortized Premium (Discount), Net | $ 597 | $ 183 | ||||
Current and Long-term Debt, Financing and Capital Lease Obligations | 33,958 | 37,313 | ||||
Long Term Debt Financing And Capital Lease Obligations, Current portion | (4,690) | (6,554) | ||||
Long-term debt, financing and capital lease obligations | 29,268 | 30,759 | ||||
Sale Leaseback Transaction, Net Book Value | 1,200 | 447 | $ 1,300 | |||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | 600 | |||||
Senior Notes [Member] | Sprint Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 10,500 | 10,500 | ||||
Senior Notes [Member] | Sprint Nextel Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||
Long-term Debt, Gross | 9,280 | 7,280 | ||||
Senior Notes [Member] | Sprint Capital Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 6,204 | 6,204 | ||||
Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 4,000 | $ 4,000 | ||||
Secured notes [Member] | Clearwire Communications LLC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 14.75% | |||||
Secured Debt [Member] | Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | 3.36% | ||||
Long-term Debt, Gross | 0 | $ 3,500 | ||||
Secured Debt [Member] | Clearwire Communications LLC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 300 | $ 0 | ||||
Exchangeable notes [Member] | Clearwire Communications LLC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | ||||
Long-term Debt, Gross | 629 | $ 629 | ||||
Revolving Credit Facility [Member] | Unsecured Revolving Credit Facility expires in 2018 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 4.00% | |||||
Line of Credit Facility, Amount Outstanding | 0 | $ 0 | ||||
Line of Credit [Member] | Export Development Canada Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Amount Outstanding | 550 | |||||
Line of Credit [Member] | Secured Equipment Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Amount Outstanding | 805 | 586 | ||||
Capital Lease Obligations [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 1,093 | $ 3,881 | ||||
Minimum [Member] | Line of Credit [Member] | Export Development Canada Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 4.48% | |||||
Minimum [Member] | Line of Credit [Member] | Secured Equipment Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 2.03% | |||||
Maximum [Member] | Line of Credit [Member] | Export Development Canada Agreement [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 6.23% | |||||
Maximum [Member] | Line of Credit [Member] | Secured Equipment Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 3.27% | |||||
Successor [Member] | Minimum [Member] | Senior Notes [Member] | Sprint Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.13% | |||||
Successor [Member] | Minimum [Member] | Senior Notes [Member] | Sprint Capital Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.88% | |||||
Successor [Member] | Minimum [Member] | Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | |||||
Successor [Member] | Minimum [Member] | Capital Lease Obligations [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.35% | |||||
Successor [Member] | Maximum [Member] | Senior Notes [Member] | Sprint Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.88% | |||||
Successor [Member] | Maximum [Member] | Senior Notes [Member] | Sprint Nextel Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.50% | |||||
Successor [Member] | Maximum [Member] | Senior Notes [Member] | Sprint Capital Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.75% | |||||
Successor [Member] | Maximum [Member] | Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | |||||
Successor [Member] | Maximum [Member] | Capital Lease Obligations [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.63% |
Long-Term Debt, Financing and46
Long-Term Debt, Financing and Capital Lease Obligations (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Oct. 31, 2016USD ($) | May 31, 2016USD ($) | Apr. 30, 2016USD ($) | Dec. 31, 2016USD ($)siteyears | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($)siteyears | Dec. 31, 2015USD ($) | Dec. 31, 2013USD ($) | Feb. 02, 2017USD ($) | Dec. 01, 2016 | Dec. 31, 2014tranche | Jul. 10, 2013USD ($) | |
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Sale Leaseback Transaction, Net Book Value | $ 447,000,000 | $ 1,200,000,000 | $ 447,000,000 | $ 1,300,000,000 | ||||||||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | 600,000,000 | |||||||||||
Sale Leaseback Transaction, Cumulative Lease Payments | 153,000,000 | |||||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | 1,136,000,000 | ||||||||||
Repayments of Accounts Receivable Securitization | 502,000,000 | |||||||||||
Long-term debt issued by 100% owned subsidiary and is fully and unconditionally guaranteed by the parent | 22,300,000,000 | 22,300,000,000 | ||||||||||
Interest Costs Capitalized | 32,000,000 | 40,000,000 | ||||||||||
Cash interest payments | 1,900,000,000 | $ 1,800,000,000 | ||||||||||
Redeemable notes | 31,300,000,000 | 31,300,000,000 | ||||||||||
Principal amount of notes with the right to require the Company to repurchase on change of control | $ 25,100,000,000 | $ 25,100,000,000 | ||||||||||
Number of cell sites leased back | site | 3,000 | 3,000 | ||||||||||
Term in years for cell sites leased back renewal options | years | 20 | 20 | ||||||||||
Payments for (Proceeds from) Businesses and Interest in Affiliates | $ 181,000,000 | |||||||||||
Ratio Of Total Indebtedness To Adjusted EBITDA | 2.5 | 2.5 | ||||||||||
Exchangeable notes [Member] | Clearwire Communications LLC [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | 8.25% | |||||||||
Fixed amount of cash for a fixed principal amount of notes surrendered that becomes exchangeable at the holder's option | $ 706.21 | |||||||||||
Fixed principal amount of notes surrendered for a fixed amount of cash that becomes exchangeable at the holder's option | $ 1,000 | |||||||||||
Long-term Debt, Gross | $ 629,000,000 | 629,000,000 | $ 629,000,000 | |||||||||
Unsecured Debt [Member] | Financing Facility [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Issuance Costs, Net | 74,000,000 | 74,000,000 | ||||||||||
Debt Instrument, Repurchased Face Amount | $ 2,500,000,000 | |||||||||||
Secured Debt [Member] | Clearwire Communications LLC [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Repayments of Debt | 300,000,000 | |||||||||||
Long-term Debt, Gross | $ 0 | 300,000,000 | $ 0 | |||||||||
Secured Debt [Member] | Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | 3.36% | 3.36% | |||||||||
Long-term Debt, Gross | $ 3,500,000,000 | 0 | $ 3,500,000,000 | |||||||||
Debt instrument face amount | $ 3,500,000,000 | |||||||||||
Debt Instrument, Term | 5 years | |||||||||||
Secured Debt, Current | 219,000,000 | 219,000,000 | ||||||||||
Debt Issuance Costs, Gross | $ 95,000,000 | |||||||||||
Secured Debt [Member] | Spectrum Financing [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Maximum Borrowing Capacity | 7,000,000,000 | |||||||||||
Debt Instrument, Additional Borrowings Available | $ 3,500,000,000 | |||||||||||
Secured notes [Member] | Clearwire Communications LLC [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 14.75% | |||||||||||
Senior Notes [Member] | Sprint Corporation [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Long-term Debt, Gross | 10,500,000,000 | 10,500,000,000 | 10,500,000,000 | |||||||||
Senior Notes [Member] | Sprint Nextel Corporation [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||||
Repayments of Debt | 2,000,000,000 | |||||||||||
Long-term Debt, Gross | 7,280,000,000 | 9,280,000,000 | 7,280,000,000 | |||||||||
Line of Credit [Member] | Export Development Canada Agreement [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Amount Outstanding | 550,000,000 | |||||||||||
Line of Credit [Member] | Secured Equipment Credit Facility [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Amount Outstanding | 586,000,000 | 805,000,000 | 586,000,000 | |||||||||
Line of Credit [Member] | EKN Secured Equipment Credit Facility [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Proceeds from Lines of Credit | 127,000,000 | $ 1,000,000,000 | ||||||||||
Line of Credit Facility, Amount Outstanding | 127,000,000 | 127,000,000 | ||||||||||
Line of Credit [Member] | Finnvera Secured Equipment Credit Facility [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 800,000,000 | 800,000,000 | ||||||||||
Number of tranches | tranche | 3 | |||||||||||
Proceeds from Lines of Credit | 28,000,000 | |||||||||||
Line of Credit Facility, Amount Outstanding | 168,000,000 | 168,000,000 | ||||||||||
Line of Credit [Member] | K-sure Secured Equipment Credit Facility [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 750,000,000 | 750,000,000 | ||||||||||
Number of tranches | tranche | 3 | |||||||||||
Proceeds from Lines of Credit | 65,000,000 | |||||||||||
Line of Credit Facility, Amount Outstanding | 258,000,000 | 258,000,000 | ||||||||||
Line of Credit [Member] | Delcredere / Ducroire (D/D) Secured Equipment Credit Facility [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 250,000,000 | 250,000,000 | ||||||||||
Line of Credit Facility, Amount Outstanding | 32,000,000 | 32,000,000 | ||||||||||
Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Long-term Debt, Gross | 4,000,000,000 | 4,000,000,000 | 4,000,000,000 | |||||||||
Revolving Credit Facility [Member] | Unsecured Revolving Credit Facility expires in 2018 [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 3,300,000,000 | 3,300,000,000 | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 3,000,000,000 | 3,000,000,000 | ||||||||||
Line of Credit Facility, Amount Outstanding | 0 | $ 0 | 0 | |||||||||
Letter of Credit [Member] | Unsecured Revolving Credit Facility expires in 2018 [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Letters of Credit Outstanding, Amount | $ 274,000,000 | $ 274,000,000 | ||||||||||
Unsecured Revolving Credit Facility expires in 2018 [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Ratio Of Total Indebtedness To Adjusted EBITDA through the quarter ended December 31, 2016 | 6.25 | 6.25 | ||||||||||
Required Ratio Of Total Indebtedness To Adjusted EBITDA for each fiscal quarter ending thereafter through expiration of the revolving credit facility | 6 | 6 | ||||||||||
Minimum required cash remaining on hand for operations as part of covenants | $ 2,000,000,000 | $ 2,000,000,000 | ||||||||||
Tranche three and four [Member] | Line of Credit [Member] | Export Development Canada Agreement [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Line of Credit Facility, Amount Outstanding | 550,000,000 | 550,000,000 | ||||||||||
Network Sale-Leaseback [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Sale Leaseback Transaction, Net Book Value | $ 3,000,000,000 | 2,500,000,000 | 2,500,000,000 | |||||||||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | 2,200,000,000 | |||||||||||
Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months | 300,000,000 | 300,000,000 | ||||||||||
Long-term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 1,900,000,000 | 1,900,000,000 | ||||||||||
MLS 2nd Tranche [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Sale Leaseback Transaction, Net Book Value | $ 1,300,000,000 | 554,000,000 | 554,000,000 | |||||||||
Sale Leaseback Transaction, Net Proceeds, Investing Activities | $ 1,100,000,000 | |||||||||||
Tower financing [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Sale Leaseback Transaction, Net Book Value | $ 0 | 0 | ||||||||||
FCC Licenses [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Indefinite-lived Intangible Assets Acquired | 85,000,000 | |||||||||||
Other, Net [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Payments for (Proceeds from) Businesses and Interest in Affiliates | $ 96,000,000 | |||||||||||
Subsequent Event [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Long-term Debt, Gross | $ 6,000,000,000 | |||||||||||
Minimum [Member] | Successor [Member] | Senior Notes [Member] | Sprint Corporation [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.13% | 7.13% | ||||||||||
Minimum [Member] | Successor [Member] | Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | 7.00% | ||||||||||
Spectrum Assets [Member] | ||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||
Concentration Risk, Percentage | 14.00% |
Severance and Exit Costs (Detai
Severance and Exit Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 32 | |||
Wireless [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance Costs | $ 6 | 15 | ||
Other Operating Income (Expense) [Member] | Wireless [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Accrual Adjustment | $ 41 | |||
Access [Member] | Wireless [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 20 | |||
Successor [Member] | Other Operating Income (Expense) [Member] | Wireless [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Accrual Adjustment | $ 20 | |||
Successor [Member] | Access [Member] | Severance and exit costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 11 | 18 | ||
Successor [Member] | Access [Member] | Severance and exit costs [Member] | Wireless [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 6 | 8 | ||
Successor [Member] | Access [Member] | Severance and exit costs [Member] | Wireline [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 5 | 10 | ||
Successor [Member] | Access [Member] | Cost of Sales [Member] | Wireline [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 2 |
Severance and Exit Costs (Sched
Severance and Exit Costs (Schedule of Severance and Exit Costs) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Restructuring Cost and Reserve [Line Items] | |||||
Document Period End Date | Dec. 31, 2016 | ||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve | $ 288 | $ 288 | $ 525 | ||
Supplemental Unemployment Benefits, Severance Benefits | 20 | 20 | 150 | ||
Restructuring Charges | 32 | ||||
Payments for Postemployment Benefits | (145) | ||||
Restructuring Reserve, Settled with Cash | (269) | ||||
Lease [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve | 235 | 235 | 338 | ||
Restructuring Charges | (3) | ||||
Restructuring reserved settled with cash and other adjustments | (100) | ||||
Access [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve | 33 | 33 | $ 37 | ||
Restructuring reserved settled with cash and other adjustments | (24) | ||||
Wireless [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Severance Costs | 6 | 15 | |||
Wireless [Member] | Lease [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Charges | $ 2 | (5) | |||
Wireless [Member] | Access [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Charges | 20 | ||||
Wireline [Member] | Lease [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Charges | 2 | ||||
Other Operating Income (Expense) [Member] | Wireless [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, Accrual Adjustment | $ 41 | ||||
Successor [Member] | Cost of Sales [Member] | Wireline [Member] | Access [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Charges | $ 2 | ||||
Successor [Member] | Other Operating Income (Expense) [Member] | Wireless [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, Accrual Adjustment | $ 20 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | |||||
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance | $ 522 | $ 647 | |||
Income tax benefit | $ 111 | $ 97 | 286 | 126 | |
Unrecognized tax benefit | $ 176 | 176 | $ 166 | ||
Income Taxes Paid, Net | 34 | $ 34 | |||
State and Local Jurisdiction [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Income tax benefit | 42 | ||||
Temporary differences between carrying amounts of FCC licenses for financial statement purposes and their tax bases [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Income tax benefit | $ 46 |
Income Taxes (Effective Income
Income Taxes (Effective Income Tax Rate) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | |||
Income tax benefit at the federal statutory rate | $ 223 | $ 460 | ||
State income taxes, net of federal income tax effect | 8 | 33 | ||
Cumulative effect of changes in corporate state income tax laws that were recognized within State income taxes, net of federal income tax effect | 3 | 23 | ||
Temporary differences between carrying amounts of FCC licenses for financial statement purposes and their tax bases | (46) | 0 | ||
Tax benefit from organizational restructuring | 42 | 0 | ||
Change in federal and state valuation allowance | (522) | (647) | ||
Other, net | 6 | 5 | ||
Income tax benefit (expense) | $ (111) | $ (97) | $ (286) | $ (126) |
Effective income tax rate | 44.90% | 9.60% |
Commitments and Contingencies (
Commitments and Contingencies (Narrative) (Details) $ in Millions | Apr. 19, 2012USD ($) | Dec. 31, 2016USD ($)claim | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($)claim | Mar. 31, 2016USD ($) |
Commitments and Contingencies [Line Items] | |||||
Loss Contingency Accrual, Provision | $ 91 | ||||
Minimum spectrum reconfiguration obligations | $ 2,800 | $ 2,800 | |||
Document Period End Date | Dec. 31, 2016 | ||||
Total Payments directly attributable to performance under Report and Order | 3,500 | $ 3,500 | |||
Payments directly attributable to performance under report and order, net change related to FCC licenses | 15 | 43 | |||
Unsecured Revolving Credit Facility expires in 2018 [Member] | Letter Of Credit Required By The FCCs Report And Order [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Initial Letter of Credit Requirement | $ 2,500 | ||||
Letters of Credit Outstanding, Amount | $ 189 | $ 189 | |||
Stockholder Derivative Suit 2009 [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Loss Contingency, Pending Claims, Number | claim | 5 | 5 | |||
New York sales taxes on receipts from sale of wireless services [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Sales receipts alleged to not be reported, amount | $ 100 | ||||
Loss Contingency Accrual, Provision | $ 180 | ||||
Derivative Shareholder Suits [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Loss Contingency, New Claims Filed, Number | claim | 8 | ||||
Louisiana Municipal Police Employees Retirement System [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Loss Contingency, Claims Dismissed, Number | claim | 1 | ||||
Johnson County Kansas [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Loss Contingency, New Claims Filed, Number | claim | 2 | ||||
Loss Contingency, Claims Dismissed, Number | claim | 1 | ||||
Federal Court of Kansas [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Loss Contingency, Pending Claims, Number | claim | 5 | 5 | |||
State and Local Jurisdiction [Member] | |||||
Commitments and Contingencies [Line Items] | |||||
Loss Contingency, Loss in Period | $ 103 |
Per Share Data (Narrative) (Det
Per Share Data (Narrative) (Details) - $ / shares shares in Millions | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5.25 | |
Document Period End Date | Dec. 31, 2016 | |
Class of Warrant or Right, Unissued | 62 | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 55 | |
Options and RSUs [Member] | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Number of shares that had no effect on computation of dilutive weighted average number of shares outstanding | 118 | 83 |
Segments (Segment Financial Inf
Segments (Segment Financial Information) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($)segments | Dec. 31, 2015USD ($) | |
Segment Reporting Information [Line Items] | ||||
Document Period End Date | Dec. 31, 2016 | |||
Number of Reportable Segments | segments | 2 | |||
Segment Reporting Information, Total Net Operating Revenues | $ 8,549 | $ 8,107 | $ 24,808 | $ 24,109 |
Revenues | 8,549 | 8,107 | 24,808 | 24,109 |
Segment Operating Expenses | (6,099) | (6,209) | (17,554) | (18,121) |
Segment Reporting Information Operating Income or Loss | 2,450 | 1,898 | 7,254 | 5,988 |
Depreciation | 1,837 | 1,549 | 5,227 | 4,202 |
Amortization | (255) | (316) | (813) | (994) |
Other Operating Expenses Net | 47 | 230 | (80) | 490 |
Operating Income | 311 | (197) | 1,294 | 302 |
Interest Expense | (619) | (546) | (1,864) | (1,630) |
Other income, net | (60) | 4 | (67) | 13 |
Loss (income) before income taxes | (368) | (739) | (637) | (1,315) |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 2,951 | 5,682 | ||
Severance and exit costs | (19) | (209) | (30) | (247) |
Loss on disposition of property, plant and equipment | 28 | (85) | ||
Gain (Loss) on Contract Termination | 96 | 0 | ||
Pension Expense | (59) | |||
Loss Contingency Accrual, Provision | (91) | |||
Loss on Disposition of Property Plant Equipment | 137 | 368 | 228 | |
Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 8,172 | 7,670 | 23,620 | 22,726 |
Revenues | 8,172 | 7,670 | 23,620 | 22,726 |
Segment Operating Expenses | (5,775) | (5,804) | (16,460) | (16,807) |
Segment Reporting Information Operating Income or Loss | 2,397 | 1,866 | 7,160 | 5,919 |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 2,654 | 5,236 | ||
Gain (Loss) on Contract Termination | (113) | |||
Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 372 | 434 | 1,177 | 1,372 |
Revenues | 497 | 581 | 1,563 | 1,820 |
Segment Operating Expenses | (449) | (548) | (1,473) | (1,749) |
Segment Reporting Information Operating Income or Loss | 48 | 33 | 90 | 71 |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 74 | 205 | ||
Impaired Assets to be Disposed of by Method Other than Sale, Amount of Impairment Loss | 233 | |||
Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 5 | 3 | 11 | 11 |
Revenues | (120) | (144) | (375) | (437) |
Segment Operating Expenses | 125 | 143 | 379 | 435 |
Segment Reporting Information Operating Income or Loss | 5 | (1) | 4 | (2) |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 223 | 241 | ||
Lease and severance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Severance and exit costs | (19) | (209) | (30) | (247) |
Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | 0 |
Intersegment Eliminations [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | 0 |
Intersegment Eliminations [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 125 | 147 | 386 | 448 |
Intersegment Eliminations [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (125) | (147) | (386) | (448) |
Trademarks [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 1,900 | |||
Other, Net [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Gain (Loss) on Disposition of Intangible Assets | 354 | |||
Write-off leased devices [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Loss on Disposition of Property Plant Equipment | $ (109) | 78 | (340) | 163 |
Other Operating Income (Expense) [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Restructuring Reserve, Accrual Adjustment | 41 | |||
Write-off leased devices & Loss on sale of devices to MLS under Tranche 1 [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Loss on Disposition of Property Plant Equipment | (143) | |||
Loss on sale of devices to MLS under Tranche 1 [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Loss on disposition of property, plant and equipment | 65 | |||
New York sales taxes on receipts from sale of wireless services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Loss Contingency Accrual, Provision | (180) | |||
Successor [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Legal Fees | $ 21 | 178 | ||
Successor [Member] | Other Operating Income (Expense) [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Restructuring Reserve, Accrual Adjustment | $ 20 | |||
State and Local Jurisdiction [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Loss Contingency, Loss in Period | $ (103) |
Segments (Operating Revenues by
Segments (Operating Revenues by Service and Products) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | ||||
Restructuring Charges | $ 32 | |||
Net operating revenues | $ 8,549 | $ 8,107 | 24,808 | $ 24,109 |
Segment Reporting Information, Total Net Operating Revenues | 8,549 | 8,107 | 24,808 | 24,109 |
Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 5,763 | 6,058 | 17,555 | 18,631 |
Wireless Equipment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 2,226 | 1,424 | 5,556 | 3,509 |
Voice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 92 | 119 | 310 | 397 |
Data [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 18 | 25 | 60 | 79 |
Internet [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 243 | 269 | 752 | 828 |
Other Products or Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 207 | 212 | 575 | 665 |
Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 8,172 | 7,670 | 23,620 | 22,726 |
Segment Reporting Information, Total Net Operating Revenues | 8,172 | 7,670 | 23,620 | 22,726 |
Wireless [Member] | Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 5,763 | 6,058 | 17,555 | 18,631 |
Wireless [Member] | Wireless Equipment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 2,226 | 1,424 | 5,556 | 3,509 |
Wireless [Member] | Voice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Wireless [Member] | Data [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Wireless [Member] | Internet [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Wireless [Member] | Other Products or Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 183 | 188 | 509 | 586 |
Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 497 | 581 | 1,563 | 1,820 |
Segment Reporting Information, Total Net Operating Revenues | 372 | 434 | 1,177 | 1,372 |
Wireline [Member] | Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Wireline [Member] | Wireless Equipment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Wireline [Member] | Voice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 153 | 201 | 506 | 646 |
Wireline [Member] | Data [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 41 | 42 | 127 | 134 |
Wireline [Member] | Internet [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 281 | 317 | 871 | 968 |
Wireline [Member] | Other Products or Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 22 | 21 | 59 | 72 |
Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | (120) | (144) | (375) | (437) |
Segment Reporting Information, Total Net Operating Revenues | 5 | 3 | 11 | 11 |
Corporate, Other And Eliminations [Member] | Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Corporate, Other And Eliminations [Member] | Wireless Equipment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Corporate, Other And Eliminations [Member] | Voice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | (61) | (82) | (196) | (249) |
Corporate, Other And Eliminations [Member] | Data [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | (23) | (17) | (67) | (55) |
Corporate, Other And Eliminations [Member] | Internet [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | (38) | (48) | (119) | (140) |
Corporate, Other And Eliminations [Member] | Other Products or Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net operating revenues | 2 | $ 3 | 7 | $ 7 |
Lease [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Restructuring Charges | (3) | |||
Lease [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Restructuring Charges | $ 2 | (5) | ||
Lease [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Restructuring Charges | $ 2 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 31, 2014 | |
Related Party Transaction [Line Items] | |||||
Document Period End Date | Dec. 31, 2016 | ||||
Line of Credit [Member] | Brightstar [Member] | |||||
Related Party Transaction [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000 | ||||
Brightstar [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 15 | $ 29 | $ 43 | $ 82 |
Related Party Transactions (Bri
Related Party Transactions (Brightstar) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Apr. 30, 2016 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Nov. 30, 2015 | |
Related Party Transaction [Line Items] | |||||||
Document Period End Date | Dec. 31, 2016 | ||||||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 600 | ||||||
Brightstar [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 15 | $ 29 | $ 43 | $ 82 | |||
Accounts receivable | 219 | 197 | 219 | ||||
Accounts payable | 126 | $ 96 | 126 | ||||
Revenue from Related Parties | 480 | 598 | 1,107 | 1,375 | |||
Related Party Costs | 403 | $ 601 | 1,021 | $ 1,362 | |||
MLS [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 2,200 | ||||||
Network Sale-Leaseback [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | 2,200 | ||||||
Long-term Debt and Capital Lease Obligations, Repayments of Principal in Next Twelve Months | 300 | 300 | |||||
Long-term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 1,900 | 1,900 | |||||
SoftBank [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Equity Method Investment, Aggregate Cost | $ 39 | $ 39 | $ 79 | ||||
SoftBank [Member] | Network Sale-Leaseback [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Sale Leaseback Transaction, Net Proceeds, Financing Activities | $ 250 |
Guarantor Financial Informati57
Guarantor Financial Information (Details) $ in Millions | Dec. 31, 2016USD ($) | Nov. 30, 2015USD ($) | Feb. 24, 2015USD ($) | Dec. 12, 2013USD ($) | Sep. 11, 2013USD ($) |
Condensed Financial Statements, Captions [Line Items] | |||||
Ratio Of Total Indebtedness To Adjusted EBITDA | 2.5 | ||||
Non-Guarantor Subsidiaries [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Other Additional Capital | $ 600 | ||||
Accounts Receivable [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Maximum Funding Limit | $ 4,300 | ||||
Sprint Communications Inc. Guaranteed Notes due 2021 [Member] | Senior Notes [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Debt instrument face amount | $ 2,250 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ||||
Sprint Corporation 7.875% [Member] | Senior Notes [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Debt instrument face amount | $ 4,250 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.875% | ||||
Sprint Corporation 7.125% [Member] [Member] | Senior Notes [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Debt instrument face amount | $ 2,500 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | ||||
Sprint Corporation 7.625% [Member] | Senior Notes [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Debt instrument face amount | $ 1,500 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.625% |
Guarantor Financial Informati58
Guarantor Financial Information (CONDENSED CONSOLIDATING BALANCE SHEET) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Current Assets | ||||||
Cash and Cash Equivalents | $ 3,707 | $ 2,641 | $ 2,175 | $ 4,010 | $ 2,175 | $ 4,010 |
Short-term Investments | 2,349 | 0 | ||||
Accounts and notes receivable, net | 1,236 | 1,099 | ||||
Device and accessory inventory | 1,296 | 1,173 | ||||
Prepaid expenses and other current assets | 1,984 | 1,920 | ||||
Total current assets | 10,572 | 6,833 | ||||
Investments in Subsidiaries | 0 | 0 | ||||
Property, plant and equipment, net | 19,333 | 20,297 | ||||
Due from Affiliate, Noncurrent | 0 | 0 | ||||
Note receivable from consolidated affiliate | 0 | 0 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill | 6,579 | 6,575 | ||||
FCC licenses and other | 40,556 | 40,073 | ||||
Definite-lived intangible assets, net | 3,582 | 4,469 | ||||
Other assets | 673 | 728 | ||||
Total assets | 81,295 | 78,975 | ||||
Current Liabilities | ||||||
Accounts Payable, Current | 2,894 | 2,899 | ||||
Accrued expenses and other current liabilities | 4,189 | 4,374 | ||||
Current portion of long-term debt, financing and capital lease obligations | 6,554 | 4,690 | ||||
Total current liabilities | 13,637 | 11,963 | ||||
Long-term debt, financing and capital lease obligations | 30,759 | 29,268 | ||||
Deferred tax liabilities | 14,238 | 13,959 | ||||
Note due to consolidated affiliate | 0 | 0 | ||||
Other liabilities | 3,665 | 4,002 | ||||
Due to affiliate | 0 | 0 | ||||
Total liabilities | 62,299 | 59,192 | ||||
Commitments and contingencies | ||||||
Total stockholders' equity | 18,996 | 19,783 | ||||
Liabilities and Equity | 81,295 | 78,975 | ||||
Consolidation, Eliminations [Member] | ||||||
Current Assets | ||||||
Cash and Cash Equivalents | 0 | 0 | 0 | 0 | ||
Short-term Investments | 0 | |||||
Accounts and notes receivable, net | (195) | (114) | ||||
Device and accessory inventory | 0 | 0 | ||||
Prepaid expenses and other current assets | 0 | 0 | ||||
Total current assets | (195) | (114) | ||||
Investments in Subsidiaries | (42,920) | (42,912) | ||||
Property, plant and equipment, net | 0 | 0 | ||||
Due from Affiliate, Noncurrent | (13,150) | (19,568) | ||||
Note receivable from consolidated affiliate | (10,965) | (10,622) | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill | 0 | 0 | ||||
FCC licenses and other | 0 | 0 | ||||
Definite-lived intangible assets, net | 0 | 0 | ||||
Other assets | 0 | (1,019) | ||||
Total assets | (67,230) | (74,235) | ||||
Current Liabilities | ||||||
Accounts Payable, Current | 0 | 0 | ||||
Accrued expenses and other current liabilities | (195) | (114) | ||||
Current portion of long-term debt, financing and capital lease obligations | 0 | 0 | ||||
Total current liabilities | (195) | (114) | ||||
Long-term debt, financing and capital lease obligations | 0 | (1,019) | ||||
Deferred tax liabilities | 0 | 0 | ||||
Note due to consolidated affiliate | (10,965) | (10,622) | ||||
Other liabilities | 0 | 0 | ||||
Due to affiliate | (13,150) | (19,568) | ||||
Total liabilities | (24,310) | (31,323) | ||||
Total stockholders' equity | (42,920) | (42,912) | ||||
Liabilities and Equity | (67,230) | (74,235) | ||||
Parent Company [Member] | ||||||
Current Assets | ||||||
Cash and Cash Equivalents | 0 | 0 | 0 | 0 | ||
Short-term Investments | 0 | |||||
Accounts and notes receivable, net | 195 | 87 | ||||
Device and accessory inventory | 0 | 0 | ||||
Prepaid expenses and other current assets | 0 | 0 | ||||
Total current assets | 195 | 87 | ||||
Investments in Subsidiaries | 18,988 | 19,783 | ||||
Property, plant and equipment, net | 0 | 0 | ||||
Due from Affiliate, Noncurrent | 25 | 50 | ||||
Note receivable from consolidated affiliate | 10,390 | 10,377 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill | 0 | 0 | ||||
FCC licenses and other | 0 | 0 | ||||
Definite-lived intangible assets, net | 0 | 0 | ||||
Other assets | 0 | 0 | ||||
Total assets | 29,598 | 30,297 | ||||
Current Liabilities | ||||||
Accounts Payable, Current | 0 | 0 | ||||
Accrued expenses and other current liabilities | 212 | 137 | ||||
Current portion of long-term debt, financing and capital lease obligations | 0 | 0 | ||||
Total current liabilities | 212 | 137 | ||||
Long-term debt, financing and capital lease obligations | 10,390 | 10,377 | ||||
Deferred tax liabilities | 0 | 0 | ||||
Note due to consolidated affiliate | 0 | 0 | ||||
Other liabilities | 0 | 0 | ||||
Due to affiliate | 0 | 0 | ||||
Total liabilities | 10,602 | 10,514 | ||||
Total stockholders' equity | 18,996 | 19,783 | ||||
Liabilities and Equity | 29,598 | 30,297 | ||||
Guarantor Subsidiaries [Member] | ||||||
Current Assets | ||||||
Cash and Cash Equivalents | 3,117 | 2,154 | 1,670 | 3,492 | ||
Short-term Investments | 2,329 | |||||
Accounts and notes receivable, net | 1 | 27 | ||||
Device and accessory inventory | 0 | 0 | ||||
Prepaid expenses and other current assets | 15 | 12 | ||||
Total current assets | 5,462 | 2,193 | ||||
Investments in Subsidiaries | 23,932 | 23,129 | ||||
Property, plant and equipment, net | 0 | 0 | ||||
Due from Affiliate, Noncurrent | 13,125 | 19,518 | ||||
Note receivable from consolidated affiliate | 575 | 245 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill | 0 | 0 | ||||
FCC licenses and other | 0 | 0 | ||||
Definite-lived intangible assets, net | 0 | 0 | ||||
Other assets | 103 | 1,127 | ||||
Total assets | 43,197 | 46,212 | ||||
Current Liabilities | ||||||
Accounts Payable, Current | 0 | 0 | ||||
Accrued expenses and other current liabilities | 560 | 531 | ||||
Current portion of long-term debt, financing and capital lease obligations | 2,583 | 3,065 | ||||
Total current liabilities | 3,143 | 3,596 | ||||
Long-term debt, financing and capital lease obligations | 9,773 | 11,495 | ||||
Deferred tax liabilities | 0 | 0 | ||||
Note due to consolidated affiliate | 10,390 | 10,377 | ||||
Other liabilities | 903 | 961 | ||||
Due to affiliate | 0 | 0 | ||||
Total liabilities | 24,209 | 26,429 | ||||
Total stockholders' equity | 18,988 | 19,783 | ||||
Liabilities and Equity | 43,197 | 46,212 | ||||
Non-Guarantor Subsidiaries [Member] | ||||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||
Other Additional Capital | 600 | |||||
Current Assets | ||||||
Cash and Cash Equivalents | 590 | 487 | $ 505 | $ 518 | ||
Short-term Investments | 20 | |||||
Accounts and notes receivable, net | 1,235 | 1,099 | ||||
Device and accessory inventory | 1,296 | 1,173 | ||||
Prepaid expenses and other current assets | 1,969 | 1,908 | ||||
Total current assets | 5,110 | 4,667 | ||||
Investments in Subsidiaries | 0 | 0 | ||||
Property, plant and equipment, net | 19,333 | 20,297 | ||||
Due from Affiliate, Noncurrent | 0 | 0 | ||||
Note receivable from consolidated affiliate | 0 | 0 | ||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Goodwill | 6,579 | 6,575 | ||||
FCC licenses and other | 40,556 | 40,073 | ||||
Definite-lived intangible assets, net | 3,582 | 4,469 | ||||
Other assets | 570 | 620 | ||||
Total assets | 75,730 | 76,701 | ||||
Current Liabilities | ||||||
Accounts Payable, Current | 2,894 | 2,899 | ||||
Accrued expenses and other current liabilities | 3,612 | 3,820 | ||||
Current portion of long-term debt, financing and capital lease obligations | 3,971 | 1,625 | ||||
Total current liabilities | 10,477 | 8,344 | ||||
Long-term debt, financing and capital lease obligations | 10,596 | 8,415 | ||||
Deferred tax liabilities | 14,238 | 13,959 | ||||
Note due to consolidated affiliate | 575 | 245 | ||||
Other liabilities | 2,762 | 3,041 | ||||
Due to affiliate | 13,150 | 19,568 | ||||
Total liabilities | 51,798 | 53,572 | ||||
Total stockholders' equity | 23,932 | 23,129 | ||||
Liabilities and Equity | $ 75,730 | $ 76,701 |
Guarantor Financial Informati59
Guarantor Financial Information (CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | $ 8,549 | $ 8,107 | $ 24,808 | $ 24,109 |
Cost of Services (exclusive of depreciation and amortization included below) | 1,925 | 2,348 | 6,125 | 7,194 |
Cost of Products (exclusive of depreciation and amortization included below) | 1,985 | 1,589 | 5,097 | 4,244 |
Net operating expenses | ||||
Selling, general and administrative | 2,080 | 2,129 | 5,992 | 6,540 |
Severance and exit costs | 19 | 209 | 30 | 247 |
Depreciation | 1,837 | 1,549 | 5,227 | 4,202 |
Amortization | 255 | 316 | 813 | 994 |
Other, net | 137 | 164 | 230 | 386 |
Total costs and expenses | 8,238 | 8,304 | 23,514 | 23,807 |
Operating Income | 311 | (197) | 1,294 | 302 |
Other (expense) income | ||||
Interest Income | 12 | 3 | 37 | 7 |
Interest Expense | (619) | (546) | (1,864) | (1,630) |
(Losses) earnings of Subsidiaries | 0 | 0 | 0 | 0 |
Other nonoperating income (expense), excluding interest income | (72) | 1 | (104) | 6 |
Nonoperating Expense | (679) | (542) | (1,931) | (1,617) |
Loss (income) before income taxes | (368) | (739) | (637) | (1,315) |
Income tax benefit | (111) | (97) | (286) | (126) |
Net (loss) income | (479) | (836) | (923) | (1,441) |
Other Comprehensive Income (Loss), Net of Tax | (5) | (7) | 2 | (11) |
Comprehensive (loss) income | (484) | (843) | (921) | (1,452) |
Consolidation, Eliminations [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Cost of Services (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Cost of Products (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Net operating expenses | ||||
Selling, general and administrative | 0 | 0 | 0 | 0 |
Severance and exit costs | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total costs and expenses | 0 | 0 | 0 | 0 |
Operating Income | 0 | 0 | 0 | 0 |
Other (expense) income | ||||
Interest Income | (233) | (236) | (674) | (707) |
Interest Expense | 233 | 236 | 674 | 707 |
(Losses) earnings of Subsidiaries | 517 | 1,309 | 603 | 1,784 |
Other nonoperating income (expense), excluding interest income | 0 | 0 | 0 | 0 |
Nonoperating Expense | 517 | 1,309 | 603 | 1,784 |
Loss (income) before income taxes | 517 | 1,309 | 603 | 1,784 |
Income tax benefit | 0 | 0 | 0 | 0 |
Net (loss) income | 517 | 1,309 | 603 | 1,784 |
Other Comprehensive Income (Loss), Net of Tax | 9 | 11 | (5) | 17 |
Comprehensive (loss) income | 526 | 1,320 | 598 | 1,801 |
Parent Company [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Cost of Services (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Cost of Products (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Net operating expenses | ||||
Selling, general and administrative | 0 | 0 | 0 | 0 |
Severance and exit costs | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total costs and expenses | 0 | 0 | 0 | 0 |
Operating Income | 0 | 0 | 0 | 0 |
Other (expense) income | ||||
Interest Income | 198 | 198 | 593 | 593 |
Interest Expense | (198) | (198) | (593) | (593) |
(Losses) earnings of Subsidiaries | (479) | (838) | (923) | (1,443) |
Other nonoperating income (expense), excluding interest income | 0 | 0 | 0 | 0 |
Nonoperating Expense | (479) | (838) | (923) | (1,443) |
Loss (income) before income taxes | (479) | (838) | (923) | (1,443) |
Income tax benefit | 0 | 2 | 0 | 2 |
Net (loss) income | (479) | (836) | (923) | (1,441) |
Other Comprehensive Income (Loss), Net of Tax | (5) | (7) | 2 | (11) |
Comprehensive (loss) income | (484) | (843) | (921) | (1,452) |
Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Cost of Services (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Cost of Products (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Net operating expenses | ||||
Selling, general and administrative | 0 | 0 | 0 | 0 |
Severance and exit costs | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total costs and expenses | 0 | 0 | 0 | 0 |
Operating Income | 0 | 0 | 0 | 0 |
Other (expense) income | ||||
Interest Income | 43 | 39 | 105 | 118 |
Interest Expense | (409) | (406) | (1,271) | (1,220) |
(Losses) earnings of Subsidiaries | (38) | (471) | 320 | (341) |
Other nonoperating income (expense), excluding interest income | (75) | 0 | (77) | 0 |
Nonoperating Expense | (479) | (838) | (923) | (1,443) |
Loss (income) before income taxes | (479) | (838) | (923) | (1,443) |
Income tax benefit | 0 | 0 | 0 | 0 |
Net (loss) income | (479) | (838) | (923) | (1,443) |
Other Comprehensive Income (Loss), Net of Tax | (5) | (7) | 2 | (11) |
Comprehensive (loss) income | (484) | (845) | (921) | (1,454) |
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 8,549 | 8,107 | 24,808 | 24,109 |
Cost of Services (exclusive of depreciation and amortization included below) | 1,925 | 2,348 | 6,125 | 7,194 |
Cost of Products (exclusive of depreciation and amortization included below) | 1,985 | 1,589 | 5,097 | 4,244 |
Net operating expenses | ||||
Selling, general and administrative | 2,080 | 2,129 | 5,992 | 6,540 |
Severance and exit costs | 19 | 209 | 30 | 247 |
Depreciation | 1,837 | 1,549 | 5,227 | 4,202 |
Amortization | 255 | 316 | 813 | 994 |
Other, net | 137 | 164 | 230 | 386 |
Total costs and expenses | 8,238 | 8,304 | 23,514 | 23,807 |
Operating Income | 311 | (197) | 1,294 | 302 |
Other (expense) income | ||||
Interest Income | 4 | 2 | 13 | 3 |
Interest Expense | (245) | (178) | (674) | (524) |
(Losses) earnings of Subsidiaries | 0 | 0 | 0 | 0 |
Other nonoperating income (expense), excluding interest income | 3 | 1 | (27) | 6 |
Nonoperating Expense | (238) | (175) | (688) | (515) |
Loss (income) before income taxes | 73 | (372) | 606 | (213) |
Income tax benefit | (111) | (99) | (286) | (128) |
Net (loss) income | (38) | (471) | 320 | (341) |
Other Comprehensive Income (Loss), Net of Tax | (4) | (4) | 3 | (6) |
Comprehensive (loss) income | $ (42) | $ (475) | $ 323 | $ (347) |
Guarantor Financial Informati60
Guarantor Financial Information (CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | ||
Net Cash Provided by Operating Activities | $ 2,900 | $ 2,603 |
Cash flows from investing activities | ||
Capital expenditures - network and other | (1,421) | (3,958) |
Capital expenditures - leased devices | (1,530) | (1,724) |
Expenditures relating to FCC licenses | (46) | (75) |
Proceeds from sales and maturities of short-term investments | 2,649 | 377 |
Payments to Acquire Short-term Investments | (4,998) | (252) |
Increase (decrease) due from consolidated affiliate from investing activities | 0 | 0 |
Proceeds from sales of assets and FCC Licenses | 126 | 36 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | 1,136 |
Payments for Advance to Affiliate | 0 | 0 |
Proceeds from Related Party Debt | 0 | |
Proceeds from Collection of Advance to Affiliate | 0 | |
Payments for (Proceeds from) Other Investing Activities | 26 | (25) |
Net Cash Used in Investing Activities | (5,194) | (4,485) |
Cash flows from financing activities | ||
Proceeds from debt and financings | 6,830 | 755 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | (3,266) | (727) |
Debt financing costs | 272 | 1 |
Intercompany dividends paid to parent | 0 | 0 |
Increase (decrease) due from/to consolidated affiliates from financing activities | 0 | 0 |
Intercompany note advance from parent | 0 | 0 |
Repayments of intercompany note advance from parent | 0 | |
Other, net | 68 | 20 |
Net cash provided by (used in) financing activities | 3,360 | 47 |
Cash and Cash Equivalents, Period Increase (Decrease) | 1,066 | (1,835) |
Cash and cash equivalents, beginning of period | 2,641 | 4,010 |
Cash and cash equivalents, end of period | 3,707 | 2,175 |
Repayments of Related Party Debt | 0 | |
Parent Company [Member] | ||
Cash flows from operating activities | ||
Net Cash Provided by Operating Activities | 0 | 0 |
Cash flows from investing activities | ||
Capital expenditures - network and other | 0 | 0 |
Capital expenditures - leased devices | 0 | 0 |
Expenditures relating to FCC licenses | 0 | 0 |
Proceeds from sales and maturities of short-term investments | 0 | 0 |
Payments to Acquire Short-term Investments | 0 | 0 |
Increase (decrease) due from consolidated affiliate from investing activities | 0 | 1 |
Proceeds from sales of assets and FCC Licenses | 0 | 0 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | |
Payments for Advance to Affiliate | 0 | 0 |
Proceeds from Related Party Debt | 0 | |
Proceeds from Collection of Advance to Affiliate | 0 | |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 |
Net Cash Used in Investing Activities | 0 | 1 |
Cash flows from financing activities | ||
Proceeds from debt and financings | 0 | 0 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | 0 | 0 |
Debt financing costs | 0 | 1 |
Intercompany dividends paid to parent | 0 | 0 |
Increase (decrease) due from/to consolidated affiliates from financing activities | 0 | 0 |
Intercompany note advance from parent | 0 | 0 |
Repayments of intercompany note advance from parent | 0 | |
Other, net | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | (1) |
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | |
Cash and cash equivalents, end of period | 0 | |
Repayments of Related Party Debt | 0 | |
Guarantor Subsidiaries [Member] | ||
Cash flows from operating activities | ||
Net Cash Provided by Operating Activities | (1,168) | (1,029) |
Cash flows from investing activities | ||
Capital expenditures - network and other | 0 | 0 |
Capital expenditures - leased devices | 0 | 0 |
Expenditures relating to FCC licenses | 0 | 0 |
Proceeds from sales and maturities of short-term investments | 2,614 | 317 |
Payments to Acquire Short-term Investments | (4,943) | (197) |
Increase (decrease) due from consolidated affiliate from investing activities | 6,865 | (568) |
Proceeds from sales of assets and FCC Licenses | 0 | 0 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | |
Payments for Advance to Affiliate | (392) | (159) |
Proceeds from Related Party Debt | 54 | |
Proceeds from Collection of Advance to Affiliate | 62 | |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 |
Net Cash Used in Investing Activities | 4,206 | (553) |
Cash flows from financing activities | ||
Proceeds from debt and financings | 0 | 250 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | (2,000) | (500) |
Debt financing costs | 110 | 0 |
Intercompany dividends paid to parent | 0 | 0 |
Increase (decrease) due from/to consolidated affiliates from financing activities | 0 | 0 |
Intercompany note advance from parent | 0 | 0 |
Repayments of intercompany note advance from parent | 0 | |
Other, net | 35 | 10 |
Net cash provided by (used in) financing activities | (2,075) | (240) |
Cash and Cash Equivalents, Period Increase (Decrease) | 963 | (1,822) |
Cash and cash equivalents, beginning of period | 2,154 | |
Cash and cash equivalents, end of period | 3,117 | |
Repayments of Related Party Debt | 0 | |
Non-Guarantor Subsidiaries [Member] | ||
Cash flows from operating activities | ||
Net Cash Provided by Operating Activities | 4,186 | 3,800 |
Cash flows from investing activities | ||
Capital expenditures - network and other | (1,421) | (3,958) |
Capital expenditures - leased devices | (1,530) | (1,724) |
Expenditures relating to FCC licenses | (46) | (75) |
Proceeds from sales and maturities of short-term investments | 35 | 60 |
Payments to Acquire Short-term Investments | (55) | (55) |
Increase (decrease) due from consolidated affiliate from investing activities | 0 | 0 |
Proceeds from sales of assets and FCC Licenses | 126 | 36 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 1,136 | |
Payments for Advance to Affiliate | 0 | 0 |
Proceeds from Related Party Debt | 0 | |
Proceeds from Collection of Advance to Affiliate | 0 | |
Payments for (Proceeds from) Other Investing Activities | 26 | (25) |
Net Cash Used in Investing Activities | (2,865) | (4,605) |
Cash flows from financing activities | ||
Proceeds from debt and financings | 6,830 | 505 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | (1,266) | (227) |
Debt financing costs | 162 | 0 |
Intercompany dividends paid to parent | (118) | (168) |
Increase (decrease) due from/to consolidated affiliates from financing activities | (6,865) | 567 |
Intercompany note advance from parent | 392 | 159 |
Repayments of intercompany note advance from parent | (62) | |
Other, net | 33 | 10 |
Net cash provided by (used in) financing activities | (1,218) | 792 |
Cash and Cash Equivalents, Period Increase (Decrease) | 103 | (13) |
Cash and cash equivalents, beginning of period | 487 | |
Cash and cash equivalents, end of period | 590 | |
Repayments of Related Party Debt | (54) | |
Consolidation, Eliminations [Member] | ||
Cash flows from operating activities | ||
Net Cash Provided by Operating Activities | (118) | (168) |
Cash flows from investing activities | ||
Capital expenditures - network and other | 0 | 0 |
Capital expenditures - leased devices | 0 | 0 |
Expenditures relating to FCC licenses | 0 | 0 |
Proceeds from sales and maturities of short-term investments | 0 | 0 |
Payments to Acquire Short-term Investments | 0 | 0 |
Increase (decrease) due from consolidated affiliate from investing activities | (6,865) | 567 |
Proceeds from sales of assets and FCC Licenses | 0 | 0 |
Sale Leaseback Transaction, Net Proceeds, Investing Activities | 0 | |
Payments for Advance to Affiliate | 392 | 159 |
Proceeds from Related Party Debt | (54) | |
Proceeds from Collection of Advance to Affiliate | (62) | |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 |
Net Cash Used in Investing Activities | (6,535) | 672 |
Cash flows from financing activities | ||
Proceeds from debt and financings | 0 | 0 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | 0 | 0 |
Debt financing costs | 0 | 0 |
Intercompany dividends paid to parent | 118 | 168 |
Increase (decrease) due from/to consolidated affiliates from financing activities | 6,865 | (567) |
Intercompany note advance from parent | (392) | (159) |
Repayments of intercompany note advance from parent | 62 | |
Other, net | 0 | 0 |
Net cash provided by (used in) financing activities | 6,653 | (504) |
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | |
Cash and cash equivalents, end of period | $ 0 | |
Repayments of Related Party Debt | $ 54 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 1 Months Ended | |||
Feb. 28, 2017 | Oct. 31, 2016 | Feb. 02, 2017 | Dec. 31, 2016 | |
Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Long-term Debt, Gross | $ 6,000,000,000 | |||
Long-term Debt, Percentage Bearing Variable Interest, Amount | 250 | |||
Sprint Nextel Corporation [Member] | Secured term loan [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Long-term Debt, Gross | 4,000,000,000 | |||
Debt Instrument, Term | 7 years | |||
Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000,000 | |||
Unsecured Revolving Credit Facility expires in 2018 [Member] | Revolving Credit Facility [Member] | ||||
Subsequent Event [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,300,000,000 | |||
Financing Facility [Member] | Unsecured Debt [Member] | ||||
Subsequent Event [Line Items] | ||||
Debt Instrument, Repurchased Face Amount | $ 2,500,000,000 | |||
Spectrum Assets [Member] | ||||
Subsequent Event [Line Items] | ||||
Concentration Risk, Percentage | 14.00% |