Guarantor Financial Information | 3 Months Ended |
Mar. 31, 2013 |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Guarantor Financial Information | Note 14. Guarantor Financial Information |
At March 31, 2013, the $2,700 million of senior notes issued by Cricket (the “Issuing Subsidiary”) were comprised of $1,100 million of 7.75% senior secured notes due 2016 and $1,600 million of 7.75% senior notes due 2020. The senior secured notes were, and the unsecured senior notes are, jointly and severally guaranteed on a full and unconditional basis by Leap (the “Guarantor Parent Company”) and Cricket License Company, LLC, a 100%-owned subsidiary of Cricket (the “Guarantor Subsidiary”). |
The indenture governing the unsecured senior notes limits, among other things, the Guarantor Parent Company’s, Cricket’s and the Guarantor Subsidiary’s ability to: incur additional debt; create liens or other encumbrances; place limitations on distributions from restricted subsidiaries; pay dividends; make investments; prepay subordinated indebtedness or make other restricted payments; issue or sell capital stock of restricted subsidiaries; issue guarantees; sell assets; enter into transactions with affiliates; and make acquisitions or merge or consolidate with another entity. |
Condensed consolidating financial information of the Guarantor Parent Company, the Issuing Subsidiary, the Guarantor Subsidiary, Non-Guarantor Subsidiaries (STX Wireless, Cricket Music and their respective subsidiaries) and total consolidated Leap and subsidiaries as of March 31, 2013 and December 31, 2012 and for the three months ended March 31, 2013 and 2012 is presented below. The equity method of accounting is used to account for ownership interests in subsidiaries, where applicable. |
Cricket formerly owned an 85% non-controlling membership interest in Savary Island Wireless, LLC (“Savary Island”), which held wireless spectrum in the upper Midwest portion of the U.S. and which leased a portion of that spectrum to Cricket. The remaining 15% controlling interest was held by Ring Island Wireless, LLC (“Ring Island”). In May 2012, Ring Island exercised its right to put its entire controlling membership interest in Savary Island to Cricket, and in October 2012, Cricket acquired Ring Island’s 15% controlling interest for $5.3 million in cash. In December 2012, Savary Island and its subsidiaries were merged with and into Cricket, with Cricket as the surviving entity. As a result of these transactions, the financial position, results of operations and cash flows of these entities have been consolidated into the Issuing Subsidiary. All prior period consolidating financial statements have been revised to reflect this reorganization. |
In connection with the restatement of the Company’s unaudited condensed consolidated statements of cash flows, the Company has restated its unaudited condensed consolidating statements of cash flows for the three months ended March 31, 2013 and 2012 due to a classification error related to the presentation of certain capital expenditures and operating cash flows (see Note 2). The classification error related to certain purchases of property and equipment that were unpaid at each of the balance sheet dates (but that were scheduled to be settled in cash soon thereafter), which were incorrectly reflected as cash outflows from investing activities and cash inflows from operating activities. This classification error resulted in a misstatement of net cash provided by operating activities and net cash used in investing activities. The classification error has been reflected in the condensed consolidating statements of cash flows for the Issuing Subsidiary and Non-Guarantor Subsidiaries as follows: |
Condensed consolidating statement of cash flows for the three months ended March 31, 2013: |
| • | | Issuing Subsidiary – Increased net cash provided by operating activities by $1.8 million with a corresponding increase in net cash used in investing activities for the same amount. | | | | | | | | | | | | | | | | | | | | | |
| • | | Non-Guarantor Subsidiaries – Increased net cash provided by operating activities by $0.7 million with a corresponding increase in net cash used in investing activities for the same amount. | | | | | | | | | | | | | | | | | | | | | |
Condensed consolidating statement of cash flows for the three months ended March 31, 2012: |
| • | | Issuing Subsidiary – Increased net cash provided by operating activities by $23.0 million with a corresponding increase in net cash used in investing activities for the same amount. | | | | | | | | | | | | | | | | | | | | | |
| • | | Non-Guarantor Subsidiaries – Decreased net cash provided by operating activities by $0.6 million with a corresponding decrease in net cash used in investing activities for the same amount. | | | | | | | | | | | | | | | | | | | | | |
In addition, certain revisions have been made to certain intercompany balances in the condensed consolidating statement of cash flows for the three months ended March 31, 2012 presented below to more appropriately reflect the substance of the underlying transactions or related settlement terms. These revisions had no impact on the consolidated balance sheet as of December 31, 2012 or the consolidated statement of cash flows for the three months ended March 31, 2012. The revisions had the following impacts to the condensed consolidating statement of cash flows for the three months ended March 31, 2012: |
• | | Non-Guarantor Subsidiaries - Increased net cash provided by operating activities by $5.5 million, with a corresponding increase to net cash used in investing activities for the same amount. | | | | | | | | | | | | | | | | | | | | | | |
• | | Issuing Subsidiary - Decreased net cash provided by operating activities by $5.5 million, with a corresponding decrease to net cash used in investing activities for the same amount. | | | | | | | | | | | | | | | | | | | | | | |
The Company assessed the materiality of the revisions noted above and concluded that they were not material to any of the Company’s previously issued financial statements. |
Condensed Consolidating Balance Sheet as of March 31, 2013 (unaudited and in thousands): |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Guarantor | | | Issuing | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
Parent | Subsidiary | Subsidiary | Subsidiaries | and |
Company | | | | Eliminating |
| | | | Adjustments |
Assets | | | | |
Cash and cash equivalents | | $ | 14 | | | $ | 448,581 | | | $ | — | | | $ | 78,139 | | | $ | — | | | $ | 526,734 | |
Short-term investments | | | — | | | | 140,404 | | | | — | | | | — | | | | — | | | | 140,404 | |
Inventories | | | — | | | | 98,279 | | | | — | | | | 3,749 | | | | — | | | | 102,028 | |
Deferred charges | | | — | | | | 60,941 | | | | — | | | | 6 | | | | — | | | | 60,947 | |
Advances to affiliates and consolidated subsidiaries | | | 5,119 | | | | 23,036 | | | | 24,827 | | | | — | | | | (52,982 | ) | | | — | |
Other current assets | | | 635 | | | | 137,877 | | | | — | | | | 10,691 | | | | (30 | ) | | | 149,173 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 5,768 | | | | 909,118 | | | | 24,827 | | | | 92,585 | | | | (53,012 | ) | | | 979,286 | |
Property and equipment, net | | | — | | | | 1,567,332 | | | | — | | | | 61,495 | | | | — | | | | 1,628,827 | |
Investments in and advances to affiliates and consolidated subsidiaries | | | 636,118 | | | | 2,315,746 | | | | — | | | | — | | | | (2,951,864 | ) | | | — | |
Wireless licenses | | | — | | | | — | | | | 2,025,742 | | | | 64,912 | | | | — | | | | 2,090,654 | |
Assets held for sale | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Goodwill | | | — | | | | 11,222 | | | | — | | | | 20,664 | | | | — | | | | 31,886 | |
Intangible assets, net | | | — | | | | 14,095 | | | | — | | | | 7,334 | | | | — | | | | 21,429 | |
Other assets | | | 3,550 | | | | 64,312 | | | | — | | | | 12,686 | | | | — | | | | 80,548 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 645,436 | | | $ | 4,881,825 | | | $ | 2,050,569 | | | $ | 259,676 | | | $ | (3,004,876 | ) | | $ | 4,832,630 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities and Stockholders’ Equity | | | | |
Accounts payable and accrued liabilities | | $ | 27 | | | $ | 280,645 | | | $ | — | | | $ | 7,190 | | | $ | — | | | $ | 287,862 | |
Current maturities of long-term debt | | | — | | | | 4,000 | | | | — | | | | — | | | | — | | | | 4,000 | |
Intercompany payables | | | — | | | | 29,946 | | | | — | | | | 23,036 | | | | (52,982 | ) | | | — | |
Other current liabilities | | | 2,445 | | | | 269,452 | | | | 48 | | | | 17,554 | | | | (30 | ) | | | 289,469 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 2,472 | | | | 584,043 | | | | 48 | | | | 47,780 | | | | (53,012 | ) | | | 581,331 | |
Long-term debt, net | | | 250,000 | | | | 3,049,593 | | | | — | | | | — | | | | — | | | | 3,299,593 | |
Deferred tax liabilities | | | — | | | | 397,429 | | | | — | | | | — | | | | — | | | | 397,429 | |
Long-term intercompany payables | | | 69,034 | | | | 242,500 | | | | — | | | | 36,531 | | | | (348,065 | ) | | | — | |
Other long-term liabilities | | | — | | | | 151,123 | | | | — | | | | 15,705 | | | | — | | | | 166,828 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 321,506 | | | | 4,424,688 | | | | 48 | | | | 100,016 | | | | (401,077 | ) | | | 4,445,181 | |
Redeemable non-controlling interests | | | — | | | | 63,519 | | | | — | | | | — | | | | — | | | | 63,519 | |
Stockholders’ equity | | | 323,930 | | | | 393,618 | | | | 2,050,521 | | | | 159,660 | | | | (2,603,799 | ) | | | 323,930 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and stockholders’ equity | | $ | 645,436 | | | $ | 4,881,825 | | | $ | 2,050,569 | | | $ | 259,676 | | | $ | (3,004,876 | ) | | $ | 4,832,630 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Balance Sheet as of December 31, 2012 (in thousands): |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Guarantor | | | Issuing | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
Parent | Subsidiary | Subsidiary | Subsidiaries | and |
Company | | | | Eliminating |
| | | | Adjustments |
Assets | | | | |
Cash and cash equivalents | | $ | 69 | | | $ | 449,668 | | | $ | — | | | $ | 65,813 | | | $ | — | | | $ | 515,550 | |
Short-term investments | | | — | | | | 159,426 | | | | — | | | | — | | | | — | | | | 159,426 | |
Inventories | | | — | | | | 118,149 | | | | — | | | | 3,452 | | | | — | | | | 121,601 | |
Deferred charges | | | — | | | | 60,933 | | | | — | | | | 30 | | | | — | | | | 60,963 | |
Advances to affiliates and consolidated subsidiaries | | | 11,182 | | | | 23,592 | | | | 49,407 | | | | — | | | | (84,181 | ) | | | — | |
Other current assets | | | 707 | | | | 129,346 | | | | — | | | | 13,519 | | | | (4,330 | ) | | | 139,242 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 11,958 | | | | 941,114 | | | | 49,407 | | | | 82,814 | | | | (88,511 | ) | | | 996,782 | |
Property and equipment, net | | | — | | | | 1,694,365 | | | | — | | | | 67,725 | | | | — | | | | 1,762,090 | |
Investments in and advances to affiliates and consolidated subsidiaries | | | 739,072 | | | | 2,327,953 | | | | — | | | | — | | | | (3,067,025 | ) | | | — | |
Wireless licenses | | | — | | | | — | | | | 1,882,421 | | | | 64,912 | | | | — | | | | 1,947,333 | |
Assets held for sale | | | — | | | | — | | | | 136,222 | | | | — | | | | — | | | | 136,222 | |
Goodwill | | | — | | | | 11,222 | | | | — | | | | 20,664 | | | | — | | | | 31,886 | |
Intangible assets, net | | | — | | | | 14,756 | | | | — | | | | 9,907 | | | | — | | | | 24,663 | |
Other assets | | | 3,938 | | | | 54,852 | | | | — | | | | 9,494 | | | | — | | | | 68,284 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 754,968 | | | $ | 5,044,262 | | | $ | 2,068,050 | | | $ | 255,516 | | | $ | (3,155,536 | ) | | $ | 4,967,260 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities and Stockholders’ Equity | | | | |
Accounts payable and accrued liabilities | | $ | 40 | | | $ | 389,951 | | | $ | — | | | $ | 6,119 | | | $ | — | | | $ | 396,110 | |
Current maturities of long-term debt | | | — | | | | 4,000 | | | | — | | | | — | | | | — | | | | 4,000 | |
Intercompany payables | | | — | | | | 60,589 | | | | — | | | | 23,592 | | | | (84,181 | ) | | | — | |
Other current liabilities | | | 5,247 | | | | 202,740 | | | | — | | | | 13,223 | | | | (4,330 | ) | | | 216,880 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 5,287 | | | | 657,280 | | | | — | | | | 42,934 | | | | (88,511 | ) | | | 616,990 | |
Long-term debt, net | | | 250,000 | | | | 3,048,463 | | | | — | | | | — | | | | — | | | | 3,298,463 | |
Deferred tax liabilities | | | — | | | | 385,111 | | | | — | | | | — | | | | — | | | | 385,111 | |
Long-term intercompany payables | | | 66,549 | | | | 242,500 | | | | — | | | | 32,562 | | | | (341,611 | ) | | | — | |
Other long-term liabilities | | | — | | | | 149,819 | | | | — | | | | 19,228 | | | | — | | | | 169,047 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 321,836 | | | | 4,483,173 | | | | — | | | | 94,724 | | | | (430,122 | ) | | | 4,469,611 | |
Redeemable non-controlling interests | | | — | | | | 64,517 | | | | — | | | | — | | | | — | | | | 64,517 | |
Stockholders’ equity | | | 433,132 | | | | 496,572 | | | | 2,068,050 | | | | 160,792 | | | | (2,725,414 | ) | | | 433,132 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and stockholders’ equity | | $ | 754,968 | | | $ | 5,044,262 | | | $ | 2,068,050 | | | $ | 255,516 | | | $ | (3,155,536 | ) | | $ | 4,967,260 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended March 31, 2013 (unaudited and in thousands): |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Guarantor | | | Issuing | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
Parent | Subsidiary | Subsidiary | Subsidiaries | and |
Company | | | | Eliminating |
| | | | Adjustments |
Revenues: | | | | | | | | | | | | | | | | | | | | | | | | |
Service revenues | | $ | — | | | $ | 602,037 | | | $ | — | | | $ | 82,570 | | | $ | 15 | | | $ | 684,622 | |
Equipment revenues | | | — | | | | 89,340 | | | | — | | | | 15,896 | | | | — | | | | 105,236 | |
Other revenues | | | — | | | | 4,149 | | | | 25,490 | | | | 89 | | | | (29,728 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total revenues | | | — | | | | 695,526 | | | | 25,490 | | | | 98,555 | | | | (29,713 | ) | | | 789,858 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of service (exclusive of items shown separately below) | | | — | | | | 255,844 | | | | — | | | | 20,578 | | | | (25,564 | ) | | | 250,858 | |
Cost of equipment | | | — | | | | 224,043 | | | | — | | | | 34,925 | | | | — | | | | 258,968 | |
Selling and marketing | | | — | | | | 68,309 | | | | — | | | | 10,529 | | | | — | | | | 78,838 | |
General and administrative | | | 2,607 | | | | 71,680 | | | | 191 | | | | 11,896 | | | | (4,149 | ) | | | 82,225 | |
Depreciation and amortization | | | — | | | | 143,974 | | | | — | | | | 8,599 | | | | — | | | | 152,573 | |
Impairments and other charges | | | — | | | | 186 | | | | — | | | | 549 | | | | — | | | | 735 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total operating expenses | | | 2,607 | | | | 764,036 | | | | 191 | | | | 87,076 | | | | (29,713 | ) | | | 824,197 | |
Gain (loss) on sale, exchange or disposal of assets, net | | | — | | | | (1,703 | ) | | | 6,752 | | | | (61 | ) | | | — | | | | 4,988 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | (2,607 | ) | | | (70,213 | ) | | | 32,051 | | | | 11,418 | | | | — | | | | (29,351 | ) |
Equity in net income (loss) of consolidated subsidiaries | | | (111,569 | ) | | | 43,469 | | | | — | | | | — | | | | 68,100 | | | | — | |
Equity in net loss of investees, net | | | — | | | | (1,158 | ) | | | — | | | | — | | | | — | | | | (1,158 | ) |
Interest income | | | 6,063 | | | | 46 | | | | — | | | | — | | | | (6,062 | ) | | | 47 | |
Interest expense | | | (3,199 | ) | | | (67,588 | ) | | | — | | | | — | | | | 6,062 | | | | (64,725 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (111,312 | ) | | | (95,444 | ) | | | 32,051 | | | | 11,418 | | | | 68,100 | | | | (95,187 | ) |
Income tax expense | | | — | | | | (14,420 | ) | | | — | | | | — | | | | — | | | | (14,420 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (111,312 | ) | | | (109,864 | ) | | | 32,051 | | | | 11,418 | | | | 68,100 | | | | (109,607 | ) |
Accretion of redeemable non-controlling interests and distributions, net of tax | | | — | | | | (1,705 | ) | | | — | | | | — | | | | — | | | | (1,705 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to common stockholders | | $ | (111,312 | ) | | $ | (111,569 | ) | | $ | 32,051 | | | $ | 11,418 | | | $ | 68,100 | | | $ | (111,312 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (111,312 | ) | | | (109,864 | ) | | | 32,051 | | | | 11,418 | | | | 68,100 | | | | (109,607 | ) |
Net unrealized holding gains on investments and other | | | (3 | ) | | | (3 | ) | | | — | | | | — | | | | 3 | | | | (3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | (111,315 | ) | | $ | (109,867 | ) | | $ | 32,051 | | | $ | 11,418 | | | $ | 68,103 | | | $ | (109,610 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended March 31, 2012 (unaudited and in thousands): |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Guarantor | | | Issuing | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
Parent | Subsidiary | Subsidiary | Subsidiaries | and |
Company | | | | Eliminating |
| | | | Adjustments |
Revenues: | | | | | | | | | | | | | | | | | | | | | | | | |
Service revenues | | $ | — | | | $ | 685,710 | | | $ | — | | | $ | 88,272 | | | $ | 16 | | | $ | 773,998 | |
Equipment revenues | | | — | | | | 45,250 | | | | — | | | | 6,371 | | | | — | | | | 51,621 | |
Other revenues | | | — | | | | 3,965 | | | | 29,689 | | | | — | | | | (33,654 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total revenues | | | — | | | | 734,925 | | | | 29,689 | | | | 94,643 | | | | (33,638 | ) | | | 825,619 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of service (exclusive of items shown separately below) | | | — | | | | 266,874 | | | | — | | | | 24,110 | | | | (29,673 | ) | | | 261,311 | |
Cost of equipment | | | — | | | | 219,348 | | | | — | | | | 28,499 | | | | — | | | | 247,847 | |
Selling and marketing | | | — | | | | 85,033 | | | | — | | | | 10,521 | | | | — | | | | 95,554 | |
General and administrative | | | 2,737 | | | | 78,574 | | | | 190 | | | | 12,163 | | | | (3,965 | ) | | | 89,699 | |
Depreciation and amortization | | | — | | | | 130,183 | | | | — | | | | 16,360 | | | | — | | | | 146,543 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total operating expenses | | | 2,737 | | | | 780,012 | | | | 190 | | | | 91,653 | | | | (33,638 | ) | | | 840,954 | |
Gain (loss) on sale, exchange or disposal of assets, net | | | — | | | | (1,391 | ) | | | — | | | | 923 | | | | — | | | | (468 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating income (loss) | | | (2,737 | ) | | | (46,478 | ) | | | 29,499 | | | | 3,913 | | | | — | | | | (15,803 | ) |
Equity in net income (loss) of consolidated subsidiaries | | | (98,586 | ) | | | 33,414 | | | | — | | | | — | | | | 65,172 | | | | — | |
Equity in net income of investees, net | | | — | | | | 193 | | | | — | | | | — | | | | — | | | | 193 | |
Interest income | | | 6,063 | | | | 26 | | | | — | | | | 2 | | | | (6,062 | ) | | | 29 | |
Interest expense | | | (3,179 | ) | | | (69,925 | ) | | | — | | | | — | | | | 6,062 | | | | (67,042 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (98,439 | ) | | | (82,770 | ) | | | 29,499 | | | | 3,915 | | | | 65,172 | | | | (82,623 | ) |
Income tax expense | | | — | | | | (11,711 | ) | | | — | | | | — | | | | — | | | | (11,711 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (98,439 | ) | | | (94,481 | ) | | | 29,499 | | | | 3,915 | | | | 65,172 | | | | (94,334 | ) |
Accretion of redeemable non-controlling interests and distributions, net of tax | | | — | | | | (4,105 | ) | | | — | | | | — | | | | — | | | | (4,105 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to common stockholders | | $ | (98,439 | ) | | $ | (98,586 | ) | | $ | 29,499 | | | $ | 3,915 | | | $ | 65,172 | | | $ | (98,439 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (98,439 | ) | | | (94,481 | ) | | | 29,499 | | | | 3,915 | | | | 65,172 | | | | (94,334 | ) |
Net unrealized holding gains on investments and other | | | 2 | | | | 2 | | | | — | | | | — | | | | (2 | ) | | | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | $ | (98,437 | ) | | $ | (94,479 | ) | | $ | 29,499 | | | $ | 3,915 | | | $ | 65,170 | | | $ | (94,332 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2013 (unaudited and in thousands, as restated): |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Guarantor | | | Issuing | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
Parent | Subsidiary | Subsidiary | Subsidiaries | and |
Company | | | | Eliminating |
| | | | Adjustments |
Operating activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | (55 | ) | | $ | 2,503 | | | $ | — | | | $ | 25,572 | | | $ | — | | | $ | 28,020 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Investing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Purchases of and change in prepayments for purchases of property and equipment | | | — | | | | (28,822 | ) | | | — | | | | (1,006 | ) | | | 1,003 | | | | (28,825 | ) |
Purchases of wireless licenses and spectrum clearing costs | | | — | | | | (335 | ) | | | — | | | | — | | | | — | | | | (335 | ) |
Proceeds from sales of wireless licenses and operating assets | | | — | | | | 1,015 | | | | — | | | | 309 | | | | (1,003 | ) | | | 321 | |
Purchases of investments | | | — | | | | (65,767 | ) | | | — | | | | — | | | | — | | | | (65,767 | ) |
Sales and maturities of investments | | | — | | | | 84,716 | | | | — | | | | — | | | | — | | | | 84,716 | |
Payments received from joint venture | | | — | | | | 8,799 | | | | — | | | | — | | | | (8,799 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | — | | | | (394 | ) | | | — | | | | (697 | ) | | | (8,799 | ) | | | (9,890 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Financing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Repayment of long-term debt | | | — | | | | (1,000 | ) | | | — | | | | — | | | | — | | | | (1,000 | ) |
Payment of debt issuance costs | | | — | | | | (552 | ) | | | — | | | | — | | | | — | | | | (552 | ) |
Payments made to joint venture partners | | | — | | | | — | | | | — | | | | (12,549 | ) | | | 8,799 | | | | (3,750 | ) |
Other | | | — | | | | (1,644 | ) | | | — | | | | — | | | | — | | | | (1,644 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in financing activities | | | — | | | | (3,196 | ) | | | — | | | | (12,549 | ) | | | 8,799 | | | | (6,946 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | (55 | ) | | | (1,087 | ) | | | — | | | | 12,326 | | | | — | | | | 11,184 | |
Cash and cash equivalents at beginning of period | | | 69 | | | | 449,668 | | | | — | | | | 65,813 | | | | — | | | | 515,550 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 14 | | | $ | 448,581 | | | $ | — | | | $ | 78,139 | | | $ | — | | | $ | 526,734 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2012 (unaudited and in thousands, as restated): |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Guarantor | | | Issuing | | | Guarantor | | | Non-Guarantor | | | Consolidating | | | Consolidated | |
Parent | Subsidiary | Subsidiary | Subsidiaries | and |
Company | | | | Eliminating |
| | | | Adjustments |
Operating activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | (24 | ) | | $ | 38,806 | | | $ | — | | | $ | 18,962 | | | $ | — | | | $ | 57,744 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Investing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Purchases of and change in prepayments for purchases of property and equipment | | | — | | | | (163,024 | ) | | | — | | | | (13,721 | ) | | | 6,104 | | | | (170,641 | ) |
Purchases of wireless licenses and spectrum clearing costs | | | — | | | | (976 | ) | | | — | | | | — | | | | — | | | | (976 | ) |
Proceeds from sales of wireless licenses and operating assets | | | — | | | | 451 | | | | — | | | | 6,508 | | | | (6,104 | ) | | | 855 | |
Purchases of investments | | | — | | | | (77,149 | ) | | | — | | | | — | | | | — | | | | (77,149 | ) |
Sales and maturities of investments | | | — | | | | 202,107 | | | | — | | | | — | | | | — | | | | 202,107 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (38,591 | ) | | | — | | | | (7,213 | ) | | | — | | | | (45,804 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Financing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Payments made to joint venture partners | | | — | | | | (255 | ) | | | — | | | | — | | | | — | | | | (255 | ) |
Other | | | — | | | | (1,010 | ) | | | — | | | | — | | | | — | | | | (1,010 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in financing activities | | | — | | | | (1,265 | ) | | | — | | | | — | | | | — | | | | (1,265 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and cash equivalents | | | (24 | ) | | | (1,050 | ) | | | — | | | | 11,749 | | | | — | | | | 10,675 | |
Cash and cash equivalents at beginning of period | | | 91 | | | | 270,056 | | | | — | | | | 75,096 | | | | — | | | | 345,243 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 67 | | | $ | 269,006 | | | $ | — | | | $ | 86,845 | | | $ | — | | | $ | 355,918 | |
| | | | | | | | | | | | | | | | | | | | | | | | |