CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | ||
In Thousands | Sep. 30, 2009
| Dec. 31, 2008
|
Current assets | ||
Cash and cash equivalents | $2,001,244 | $1,243,251 |
Short-term investments | 36,423 | 82,002 |
Accounts receivable, less allowance for doubtful accounts of $37,776 and $27,875 | 591,094 | 454,769 |
Handset and accessory inventory | 199,106 | 139,285 |
Deferred income taxes, net | 124,846 | 135,265 |
Prepaid expenses and other | 174,512 | 130,705 |
Total current assets | 3,127,225 | 2,185,277 |
Property, plant and equipment, net | 2,413,721 | 1,892,113 |
Intangible assets, net | 321,738 | 317,878 |
Deferred income taxes, net | 507,098 | 429,365 |
Other assets | 367,445 | 265,440 |
Total assets | 6,737,227 | 5,090,073 |
Current liabilities | ||
Accounts payable | 143,298 | 136,442 |
Accrued expenses and other | 525,069 | 446,270 |
Deferred revenues | 129,116 | 116,267 |
Accrued interest | 27,256 | 13,166 |
Current portion of long-term debt | 577,655 | 99,054 |
Total current liabilities | 1,402,394 | 811,199 |
Long-term debt | 2,465,313 | 2,034,086 |
Deferred revenues | 27,186 | 29,616 |
Deferred credits | 106,781 | 144,397 |
Other long-term liabilities | 167,750 | 158,652 |
Total liabilities | 4,169,424 | 3,177,950 |
Stockholders' equity | ||
Undesignated preferred stock, par value $0.001, 10,000 shares authorized-- 2009 and 2008, no shares issued or outstanding-- 2009 and 2008 | 0 | 0 |
Common stock, par value $0.001, 600,000 shares authorized-- 2009 and 2008, 166,166 shares issued and outstanding-- 2009, 165,782 shares issued and outstanding-- 2008 | 166 | 166 |
Paid-in capital | 1,210,524 | 1,158,925 |
Retained earnings | 1,615,317 | 1,293,407 |
Accumulated other comprehensive loss | (258,204) | (540,375) |
Total stockholders' equity | 2,567,803 | 1,912,123 |
Total liabilities and stockholders' equity | $6,737,227 | $5,090,073 |
1_CONDENSED CONSOLIDATED BALANC
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | ||
In Thousands, unless otherwise specified | Sep. 30, 2009
| Dec. 31, 2008
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) | ||
Allowance for Doubtful Accounts Receivable, Current | $37,776 | $27,875 |
Preferred Stock, Par or Stated Value Per Share | 0.001 | 0.001 |
Preferred Stock, Shares Authorized | 10,000 | 10,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | 0.001 | 0.001 |
Common Stock, Shares Authorized | 600,000 | 600,000 |
Common Stock, Shares, Issued | 166,166 | 165,782 |
Common Stock, Shares, Outstanding | 166,166 | 165,782 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $) | ||||
In Thousands, except Per Share data | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
Operating revenues | ||||
Service and other revenues | $1,078,386 | $1,116,101 | $2,980,833 | $3,106,881 |
Digital handset and accessory revenues | 64,072 | 66,624 | 181,804 | 173,015 |
Total operating revenues | 1,142,458 | 1,182,725 | 3,162,637 | 3,279,896 |
Operating expenses | ||||
Cost of service (exclusive of depreciation and amortization included below) | 316,836 | 305,565 | 861,990 | 848,557 |
Cost of digital handsets and accessories | 161,679 | 162,478 | 472,666 | 455,876 |
Selling, general and administrative | 363,904 | 384,056 | 1,015,935 | 1,054,013 |
Depreciation | 106,112 | 102,882 | 289,034 | 285,944 |
Amortization | 7,630 | 8,907 | 21,357 | 25,434 |
Total operating expenses | 956,161 | 963,888 | 2,660,982 | 2,669,824 |
Operating income | 186,297 | 218,837 | 501,655 | 610,072 |
Other income (expense) | ||||
Interest expense, net | (58,551) | (53,219) | (145,260) | (155,978) |
Interest income | 3,326 | 16,796 | 19,748 | 53,324 |
Foreign currency transaction gains (losses), net | 45,094 | (56,434) | 101,332 | (16,128) |
Other income (expense), net | (1,310) | (7,611) | 4,258 | (12,786) |
Total other expense | (11,441) | (100,468) | (19,922) | (131,568) |
Income before income tax provision | 174,856 | 118,369 | 481,733 | 478,504 |
Income tax provision | (57,874) | (33,939) | (159,823) | (138,464) |
Net income | 116,982 | 84,430 | 321,910 | 340,040 |
Net income, per common share, basic | 0.7 | 0.51 | 1.94 | 2.03 |
Net income, per common share, diluted | 0.69 | 0.5 | 1.91 | 1.99 |
Weighted average number of common shares outstanding, basic | 166,080 | 165,696 | 165,948 | 167,312 |
Weighted average number of common shares outstanding, diluted | 174,195 | 174,415 | 173,295 | 176,054 |
Comprehensive income, net of income taxes | ||||
Foreign currency translation adjustment | 79,559 | (290,928) | 281,252 | (88,362) |
Reclassification for gains on derivatives included in other income (expense), net | 343 | 25 | 1,408 | 171 |
Unrealized (losses) gains on derivatives, net | (1,184) | 15 | (489) | 313 |
Other comprehensive income (loss), net of taxes | 78,718 | (290,888) | 282,171 | (87,878) |
Net income | 116,982 | 84,430 | 321,910 | 340,040 |
Total comprehensive income (loss) | $195,700 | ($206,458) | $604,081 | $252,162 |
2_CONDENSED CONSOLIDATED STATEM
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | |||||
In Thousands | Common Stock
| Paid-in Capital
| Retained Earnings
| Accumulated Other Comprehensive Loss
| Total
|
Balance at Dec. 31, 2008 | $166 | $1,158,925 | $1,293,407 | ($540,375) | $1,912,123 |
Shares Balance at Dec. 31, 2008 | 165,782 | ||||
Net income | 321,910 | 321,910 | |||
Other comprehensive income, net of taxes | 282,171 | 282,171 | |||
Exercise of stock options, value | 2,922 | 2,922 | |||
Exercise of stock options, shares | 384 | ||||
Tax deficiency on current period exercise of stock options | (2,880) | (2,880) | |||
Share-based payment expense for equity-based awards | 51,557 | 51,557 | |||
Ending Balance at Sep. 30, 2009 | $166 | $1,210,524 | $1,615,317 | ($258,204) | $2,567,803 |
Ending Shares Balance at Sep. 30, 2009 | 166,166 |
3_CONDENSED CONSOLIDATED STATEM
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | ||
In Thousands | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
Cash flows from operating activities: | ||
Net income | $321,910 | $340,040 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization of debt financing costs | 5,903 | 5,991 |
Depreciation and amortization | 310,391 | 311,378 |
Provision for losses on accounts receivable | 68,016 | 60,728 |
Foreign currency transaction (gains) losses, net | (101,332) | 16,128 |
Deferred income tax benefit | (4,044) | (53,925) |
Share-based payment expense | 51,678 | 53,288 |
Amortization of discount on convertible notes | 36,843 | 34,219 |
Excess tax benefit from share-based payment | 0 | (6,707) |
(Gain) loss on short-term investments | (421) | 4,368 |
Accretion of asset retirement obligations | 6,534 | 5,754 |
Contingency reversals, net of charges | (8,278) | 0 |
Other, net | (5,834) | 2,112 |
Change in assets and liabilities: | ||
Accounts receivable, gross | (153,726) | (170,131) |
Handset and accessory inventory | (52,447) | (57,136) |
Prepaid expenses and other | (15,190) | (15,313) |
Other long-term assets | (2,045) | (51,865) |
Accounts payable, accrued expenses and other | 90,084 | 107,526 |
Current deferred revenue | 3,452 | 25,234 |
Deferred revenue and other long-term liabilities | (5,437) | 14,454 |
Net cash provided by operating activities | 546,057 | 626,143 |
Cash flows from investing activities: | ||
Capital expenditures | (500,941) | (657,795) |
Payments for purchases of licenses and other | (13,579) | (7,983) |
Proceeds from sales of short-term investments | 696,543 | 607,950 |
Purchase of short-term investments | (625,814) | (455,486) |
Transfers to restricted cash | (52,955) | (2,826) |
Other | (924) | 1,930 |
Net cash used in investing activities | (497,670) | (514,210) |
Cash flows from financing activities: | ||
Proceeds from issuance of senior notes | 762,522 | 0 |
Payments to purchase common stock | 0 | (242,665) |
Borrowings under credit paper | 41,362 | 0 |
Borrowings under syndicated loan facilities | 0 | 125,000 |
Repayments under syndicated loan facilities | (44,307) | (31,922) |
Payments of short-term notes payable | (18,000) | 0 |
Proceeds from stock option exercises | 2,922 | 33,764 |
Excess tax benefit from share-based payment | 0 | 6,707 |
Proceeds from tower financing transactions | 0 | 27,271 |
Proceeds from mobile switching office financing | 7,102 | 0 |
Payments of debt financing costs | (790) | 0 |
Repayments under import financing | (5,535) | 0 |
Repayments under capital leases, license financing, tower financing and other transactions | (6,846) | (7,971) |
Net cash provided by (used in) financing activities | 738,430 | (89,816) |
Effect of exchange rate changes on cash and cash equivalents | (28,824) | 1,232 |
Net increase in cash and cash equivalents | 757,993 | 23,349 |
Cash and cash equivalents, beginning of period | 1,243,251 | 1,370,165 |
Cash and cash equivalents, end of period | $2,001,244 | $1,393,514 |
Basis of Presentation
Basis of Presentation | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note1.Basis of Presentation General.Our unaudited condensed consolidated financial statements have been prepared under the rules and regulations of the Securities and Exchange Commission, or the SEC. While they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements, they reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the results for interim periods. In addition, the year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. We have evaluated all subsequent events through November4, 2009, which is the date our condensed consolidated financial statements were issued. You should read these condensed consolidated financial statements in conjunction with the consolidated financial statements and notes contained in our current report on Form 8-K dated August 5, 2009 and our quarterly reports on Form10-Q for the quarters ended March31, 2009 and June 30, 2009. You should not expect results of operations for interim periods to be an indication of the results for a full year. Accumulated Other Comprehensive Loss.The components of our accumulated other comprehensive loss, net of taxes, are as follows: September30, 2009 December31, 2008 (in thousands) Cumulative foreign currency translation adjustment.......................................................................................... $ (257,764) $ (539,016) Unrealized losses on derivatives and available-for-sale securities.................................................................. (440) (1,359) $ (258,204) $ (540,375) Supplemental Cash Flow Information. Nine Months Ended September30, 2009 2008 (in thousands) Capital expenditures Cash paid for capital expenditures, including capitalized interest............................................................................... $ 500,941 $ 657,795 Change in capital expenditures accrued and unpaid or financed, including accreted interest capitalized............ 58,804 (15,802) $ 559,745 $ 641,993 Interest costs Interest expense, net........................................................................................................................................................... $ 145,260 $ 155,978 Interest capitalized............................................................................................................................................................... 8,970 7,969 $ 154,230 $ 163,947 Cash paid for interest, net of amounts capitalized......................................................................................................... $ 73,044 $ 83,649 Cash paid for income taxes............................................................................................................................. |
Fair Value Measurements
Fair Value Measurements | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note2.Fair Value Measurements In September 2006, the FASB issued authoritative guidance for fair value measurements, which defines fair value, establishes a framework for measuring the fair value of assets and liabilities when other accounting pronouncements require or permit fair value measurements and expands related disclosure requirements. We adopted this guidance on January 1, 2008 for financial assets and financial liabilities, except for those that are recognized or disclosed at fair value on a recurring basis (at least annually). In February 2008, the FASB issued further authoritative guidance for the fair value measurement of non-financial assets and non-financial liabilities which we adopted on January 1, 2009. As of September30, 2009, the adoption of this guidance with respect to our nonfinancial assets and nonfinancial liabilities has not had a material impact on our condensed consolidated financial statements. The FASBs guidance on fair value measurements clarifies that fair value is 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. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the guidance utilizes a three-tier fair value hierarchy, which prioritizes the inputs used to measure fair value. The three levels in the fair value hierarchy used are summarized as follows: Level1:Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level2:Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly. Level3:Unobservable inputs that reflect the reporting entitys own assumptions. Considerable judgment is required in interpreting market data to develop the estimates of fair value. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level3. The estimates presented below are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and valuation techniques may have a material effect on the estimated fair value amounts. The following is a description of the major categories of assets and liabilities measured at fair value on a recurring basis. Available-for-Sale Securities. Available-for-sale securities include short-term investments made by Nextel Brazil and current and long term classifications of our enhanced cash fund which is invested primarily in asset-backed securities. The short-term investments by Nextel Brazil are classified as Level1 within the fair value hierarchy as these short-term investments trade regularly in observable markets. The enhanced cash fund is classified as Level3 within the fair value hierarc |
Property, Plant and Equipment
Property, Plant and Equipment | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Note3.Property, Plant and Equipment The components of our property, plant and equipment are as follows: September30, 2009 December31, 2008 (in thousands) Land........................................................................................................................................................................ $ 7,133 $ 6,600 Leasehold improvements..................................................................................................................................... 97,383 84,663 Digital mobile network equipment and network software............................................................................... 2,937,751 2,216,212 Office equipment, furniture and fixtures and other.......................................................................................... 434,642 329,352 Corporate aircraft capital lease............................................................................................................................ 31,450 31,450 Less: Accumulated depreciation and amortization.......................................................................................... (1,314,596) (928,368) 2,193,763 1,739,909 Construction in progress..................................................................................................................................... 219,958 152,204 $ 2,413,721 $ 1,892,113 |
Intangible Assets
Intangible Assets | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Intangible Assets [Abstract] | |
Intangible Assets | Note4.Intangible Assets Our intangible assets consist of our licenses and trade name, all of which have finite useful lives, as follows: September30, 2009 December31, 2008 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (in thousands) Amortizable intangible assets: Licenses...................................................................................... $ 401,099 $ (79,361) $ 321,738 $ 373,315 $ (55,437) $ 317,878 Trade name and other............................................................... 1,596 (1,596) 1,412 (1,412) Total intangible assets........................................................... $ 402,695 $ (80,957) $ 321,738 $ 374,727 $ (56,849) $ 317,878 Based solely on the carrying amount of amortizable intangible assets existing as of September30, 2009 and current foreign currency exchange rates, we estimate amortization expense for each of the next five years ending December 31 to be as follows (in thousands): Years Estimated Amortization Expense 2009............................................................................................................................................................................................................. $ 28,609 2010............................................................................................................................................................................................................. 29,007 2011............................................................................................................................................................................................................. 29,007 2012............................................................................................................................................................................................................. 29,007 2013............................................................................................................................................................................................................. 28,962 Actual amortization expense to be reported in future periods could differ from these estimates as a result of additional acquisitions of intangibles, as well as changes in foreign currency exchange rates and other relevant factors. During the three months ended September30, 2009 and 2008, we did not acquire, dispose of or write down any goodwill or intangible assets with indefinite useful lives. |
Debt
Debt | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Debt [Abstract] | |
Debt | Note5.Debt The components are as follows: September30, 2009 December31, 2008 (in thousands) 10.0% senior notes due 2016, net..................................................................................................................... $ 780,777 $ 3.125% convertible notes due 2012, net........................................................................................................... 1,088,002 1,059,997 2.75% convertible notes due 2025, net............................................................................................................. 339,453 330,850 Brazil syndicated loan facility............................................................................................................................. 279,740 300,000 Mexico syndicated loan facility............................................................................................................................ 181,294 205,863 Tower financing obligations................................................................................................................................ 171,210 157,262 Capital lease obligations....................................................................................................................................... 74,871 68,167 Brazil import financing........................................................................................................................................ 62,325 Brazil credit paper................................................................................................................................................. 44,992 Peru mobile switching office financing............................................................................................................. 13,060 4,282 Brazil spectrum license financing..................................................................................................................... 7,185 6,660 Other........................................................................................................................................................................ 59 59 Total debt................................................................................................................................................................. 3,042,968 2,133,140 Less: current portion.............................................................................................................................................. (577,655) (99,054) $ 2,465,313 $ 2,034,086 10.0% Senior Notes due 2016. In August 2009, we issued senior notes with $800.0 million aggregate principal amount due at maturity for total cash proceeds of about $762.5 million, after deducting original issue discount and commissions. We also incurred $0.8 million in offering expenses related to the issuance of the notes, which we will amortize into interest expense over the term of the notes. The notes are senior unsecured obligations of |
Commitments and Contingencies
Commitments and Contingencies | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note6.Commitments and Contingencies Brazilian Contingencies. Nextel Brazil has received various assessment notices from state and federal Brazilian authorities asserting deficiencies in payments related primarily to value-added taxes, excise taxes on imported equipment and other non-income based taxes. Nextel Brazil has filed various administrative and legal petitions disputing these assessments. In some cases, Nextel Brazil has received favorable decisions, which are currently being appealed by the respective governmental authority. In other cases, Nextel Brazils petitions have been denied, and Nextel Brazil is currently appealing those decisions. Nextel Brazil is also disputing various other claims. As a result of a favorable ruling by the state tax authority in Brazil, during the second quarter of 2009, Nextel Brazil reversed $10.5million in accrued liabilities, of which we recorded $5.8million as other income. Nextel Brazil did not reverse any accrued liabilities related to contingencies during the first quarter or third quarter of 2009. As of September30, 2009 and December31, 2008, Nextel Brazil had accrued liabilities of $13.3million and $18.3million, respectively, related to contingencies, all of which were classified in accrued contingencies reported as a component of other long-term liabilities. Of the total accrued liabilities as of September30, 2009 and December31, 2008, Nextel Brazil had $0.3million and $9.2million in unasserted claims. We currently estimate the range of reasonably possible losses related to matters for which Nextel Brazil has not accrued liabilities, as they are not deemed probable, to be between $113.9million and $117.9million as of September30, 2009. We are continuing to evaluate the likelihood of probable and reasonably possible losses, if any, related to all known contingencies. As a result, future increases or decreases to our accrued liabilities may be necessary and will be recorded in the period when such amounts are determined to be probable and reasonably estimable. Argentine Contingencies. As of September30, 2009 and December31, 2008, Nextel Argentina had accrued liabilities of $26.0million and $35.0million, respectively, related primarily to local turnover taxes, universal service tax and local government claims, all of which were classified in accrued contingencies and accrued non-income taxes reported as components of accrued expenses and other. In June 2009, one of Argentinas provincial governments finalized an examination that supported Nextel Argentinas position that its turnover tax obligations should be taxed at the 3.5% general turnover tax rate. Nextel Argentina previously accrued a liability for the difference between the higher rate and the general turnover tax rate. As a result of this indirect confirmation, Nextel Argentina reversed $9.2million in accrued liabilities related to this contingency during the second quarter of 2009. Also, during the nine months ended September 30, 2009, Nextel Argentina reversed an additional $2.3 million in accrued liabilities related to the successful negotiation of various local government claims. Legal Proceedings. We are subject |
Income Taxes
Income Taxes | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Income Taxes [Abstract] | |
Income Taxes | Note7.Income Taxes We are subject to income taxes in both the United States and the non-U.S.jurisdictions in which we operate. Certain of our entities are under examination by the relevant taxing authorities for various tax years. The earliest years that remain subject to examination by jurisdiction are: Chile 1993; U.S. 1995; Mexico 2001; Argentina 2002; Peru and Brazil 2004. We regularly assess the potential outcome of current and future examinations in each of the taxing jurisdictions when determining the adequacy of the provision for income taxes. The following table shows a reconciliation of our unrecognized tax benefits according to the FASBs authoritative guidance on accounting for uncertainty in income taxes, for the nine months ended September 30, 2009 (in thousands): Unrecognized tax benefits December31, 2008.................................................................................................................................. $ 85,886 Additions for current year tax positions................................................................................................................................................. 2,431 Additions for prior year tax positions...................................................................................................................................................... Lapse of statute of limitations................................................................................................................................................................... (564) Settlements with taxing authorities.......................................................................................................................................................... Foreign currency translation adjustment................................................................................................................................................ 156 Unrecognized tax benefits September 30, 2009................................................................................................................................. $ 87,909 The unrecognized tax benefits as of December31, 2008 and September 30, 2009 include $63.2million and $62.9 million, respectively, of tax benefits that could potentially reduce our future effective tax rate, if recognized. We record interest and penalties associated with uncertain tax positions as a component of our income tax provision. We assessed the realizability of our deferred tax assets during the third quarter of 2009, consistent with the methodology we employed for 2008, and determined that the realizability of those deferred assets has not changed for the markets in which we operate. In that assessment, we considered the reversal of existing temporary differences associated with deferred tax assets and liabilities, future taxable income, tax planning strategies and historical and future pre-tax book income (as adjusted for permanent differences between financial and tax accounting items) in order to determine if it is more-likely-than-not that the deferred tax asset will be realized. As a r |
Segment Reporting
Segment Reporting | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Segment Reporting [Abstract] | |
Segment Reporting | Note8.Segment Reporting We have determined that our reportable segments are those that are based on our method of internal reporting, which disaggregates our business by geographical location. Our reportable segments are: (1)Mexico, (2)Brazil, (3)Argentina and (4)Peru. The operations of all other businesses that fall below the segment reporting thresholds are included in the Corporate and other segment below. This segment includes our Chilean operating companies and our corporate operations in the U.S.We evaluate performance of these segments and provide resources to them based on operating income before depreciation and amortization and impairment, restructuring and other charges, which we refer to as segment earnings. Because we do not view share-based compensation as an important element of operational performance, we recognize share-based payment expense at the corporate level and exclude it when evaluating the business performance of our segments. Mexico Brazil Argentina Peru Corporate and other Intercompany Eliminations Consolidated (in thousands) Nine Months Ended September30, 2009 Service and other revenues............. $ 1,328,714 $ 1,103,382 $ 361,540 $ 178,287 $ 9,712 $ (802) $ 2,980,833 Digital handset and accessory revenues........................................... 58,110 76,382 27,300 19,948 64 181,804 Operating revenues........................... $ 1,386,824 $ 1,179,764 $ 388,840 $ 198,235 $ 9,776 $ (802) $ 3,162,637 Segment earnings (losses)............... $ 498,349 $ 321,359 $ 118,006 $ 19,615 $ (145,283) $ $ 812,046 Management fee................................ (23,850) 23,850 Depreciation and amortization......... (123,855) (124,319) (28,936) (23,132) (10,149) (310,391) Operating income (loss)................... 350,644 197,040 89,070 (3,517) (131,582) 501,655 Interest expense, net......................... (33,514) (35,856) 5,349 (1,413) (83,780) 3,954 (145,260) Interest income.................................. 14,880 3,523 475 223 4,601 (3,954) 19,748 Foreign currency transaction (losses) gains, net........................... (15,031) 108,797 5,599 (382) 2,349 101,332 Other (expense) income, net............ (516) 6,826 3,749 (5,801) 4,258 Income (loss) before income tax...... $ 316,463 $ 280,330 $ 104,242 $ (5,089) $ (214,213) $ $ 481,733 Capital expenditures.......................... $ 77,431 $ 329,874 $ 23,967 $ 110,217 $ 18,256 $ $ 559,745 Nine Months Ended September30, 2008 Service and other revenues............. $ 1,583,235 $ 976,665 $ 378,379 $ 163,170 $ 6,387 $ (955) $ 3,106,881 Digital handset and accessory revenues........................................... 67,622 |
Document Information
Document Information | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | 2009-09-30 |
Entity Information
Entity Information (USD $) | ||
9 Months Ended
Sep. 30, 2009 | Nov. 02, 2009
| |
Entity Information [Line Items] | ||
Entity Registrant Name | NII HOLDINGS INC | |
Entity Central Index Key | 0001037016 | |
Entity Tax Identification Number | 911671412 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Listings [Line Items] | ||
Entity Common Stock, Shares Outstanding | 166,213,810 |