LEAP WIRELESS INTERNATIONAL INC

CIK:0001065049|SEC Filings

Consolidated Statements of Comprehensive Income (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues:
Service revenues	$ 2,630,554	$ 2,947,457	$ 2,829,281
Equipment revenues	267,518	194,884	241,850
Total revenues	2,898,072	3,142,341	3,071,131
Operating expenses:
Cost of service (exclusive of items shown separately below)	999,965	1,034,167	981,203
Cost of equipment	871,399	816,226	817,920
Selling and marketing	276,604	349,970	369,257
General and administrative	357,323	348,934	355,529
Depreciation and amortization	594,341	625,596	548,426
Impairments and other charges (Note 8)	28,783	39,399	26,770
Total operating expenses	3,128,415	3,214,292	3,099,105
Gain on sale, exchange or disposal of assets, net	5,427	229,714	2,622
Operating income (loss)	(224,916)	157,763	(25,352)
Equity in net loss of investees, net	(10,558)	(464)	2,984
Interest income	362	194	245
Interest expense	(249,784)	(268,232)	(256,175)
Other expense, net	0	0	(2)
Loss on extinguishment of debt	(72,988)	(18,634)	0
Income (loss) before income taxes	(557,884)	(129,373)	(278,300)
Income tax benefit (expense)	(45,569)	(57,904)	(39,377)
Net income (loss)	(603,453)	(187,277)	(317,677)
Accretion of redeemable non-controlling interests and distributions, net of tax	(37,355)	(2,015)	3,050
Net income (loss) attributable to common stockholders	(640,808)	(189,292)	(314,627)
Income (loss) per share attributable to common stockholders:
Basic (usd per share)	$ (8.20)	$ (2.45)	$ (4.11)
Diluted (usd per share)	$ (8.20)	$ (2.45)	$ (4.11)
Shares used in per share calculations:
Basic (shares)	78,136	77,283	76,534
Diluted (shares)	78,136	77,283	76,534
Other comprehensive income (loss):
Net income (loss)	(603,453)	(187,277)	(317,677)
Net unrealized holding gains (losses) on investments and other	(18)	27	(14)
Comprehensive income (loss)	$ (603,471)	$ (187,250)	$ (317,691)

Supplementary Financial Information - Cash Flow Disclosure (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Supplementary Balance Sheet Information [Abstract]
Cash paid for interest	$ (251,883)	$ (268,186)	$ (229,034)
Cash paid for income taxes	(4,276)	(4,043)	(3,079)
Supplementary disclosure of non-cash investing activities:
Net wireless licenses received in exchange transaction	6,809	106,877	20,649
Assets acquired through capital leases	807	13,829	1,749
Acquisition of property and equipment	$ 27,548	$ 43,220	$ 117,042

Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Assets

Cash and cash equivalents

$ 531,245

$ 515,550

Short-term investments

385,783

159,426

Inventories

73,035

121,601

Deferred charges

38,293

60,963

Other current assets

159,581

139,242

Total current assets

1,187,937

996,782

Property and equipment, net

1,266,373

^[1]

1,762,090

^[1]

Wireless licenses

2,091,261

1,947,333

Assets held for sale (Note 7)

136,222

Goodwill

31,886

Intangible assets, net

14,043

24,663

Other assets

71,388

68,284

Total assets

4,662,888

4,967,260

Liabilities and Stockholders' Equity

Accounts payable and accrued liabilities

365,479

396,110

Current maturities of long-term debt

266,454

4,000

Other current liabilities

209,068

216,880

Total current liabilities

841,001

616,990

Long-term debt, net

3,364,567

3,298,463

Deferred tax liabilities

424,446

385,111

Other long-term liabilities

158,010

169,047

Total liabilities

4,788,024

4,469,611

Redeemable non-controlling interests

68,535

64,517

Commitments and contingencies (Note 15)

Stockholders' equity:

Preferred stock - authorized 10,000,000 shares, $.0001 par value; no shares issued and outstanding

Common stock - authorized 160,000,000 shares, $.0001 par value; 79,726,348 and 79,194,750 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively

Additional paid-in capital

2,159,171

2,182,503

Accumulated deficit

(2,352,147)

(1,748,694)

Accumulated other comprehensive loss

(703)

(685)

Total stockholders' equity (deficit)

(193,671)

433,132

Total liabilities and stockholders' equity

$ 4,662,888

$ 4,967,260

[1]

As of December 31, 2013 and December 31, 2012, approximately $48.7 million and $45.8 million of assets were held by the Company under capital lease arrangements, respectively. Accumulated amortization relating to these assets totaled $28.1 million and $22.9 million as of December 31, 2013 and December 31, 2012, respectively.