XML 46 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Guarantor Financial Information (Tables)
6 Months Ended
Sep. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheet
CONDENSED CONSOLIDATING BALANCE SHEET
 
September 30, 2017
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
4,319

 
$
483

 
$

 
$
4,802

Short-term investments

 
1,610

 

 

 
1,610

Accounts and notes receivable, net
87

 
236

 
4,118

 
(323
)
 
4,118

Current portion of notes receivable from consolidated affiliate

 
424

 

 
(424
)
 

Device and accessory inventory

 

 
751

 

 
751

Prepaid expenses and other current assets

 
12

 
642

 

 
654

Total current assets
87

 
6,601

 
5,994

 
(747
)
 
11,935

Investments in subsidiaries
19,012

 
24,684

 

 
(43,696
)
 

Property, plant and equipment, net

 

 
18,901

 

 
18,901

Due from consolidated affiliates
9

 
204

 

 
(213
)
 

Notes receivable from consolidated affiliate
10,402

 
11,256

 

 
(21,658
)
 

Intangible assets
 
 
 
 
 
 
 
 
 
Goodwill

 

 
6,578

 

 
6,578

FCC licenses and other

 

 
41,072

 

 
41,072

Definite-lived intangible assets, net

 

 
2,848

 

 
2,848

Other assets

 
192

 
940

 

 
1,132

Total assets
$
29,510

 
$
42,937

 
$
76,333

 
$
(66,314
)
 
$
82,466

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$

 
$

 
$
2,947

 
$

 
$
2,947

Accrued expenses and other current liabilities
88

 
338

 
3,705

 
(323
)
 
3,808

Current portion of long-term debt, financing and capital lease obligations

 
40

 
4,102

 

 
4,142

Current portion of notes payable to consolidated affiliate

 

 
424

 
(424
)
 

Total current liabilities
88

 
378

 
11,178

 
(747
)
 
10,897

Long-term debt, financing and capital lease obligations
10,402

 
12,303

 
11,531

 

 
34,236

Notes payable to consolidated affiliate

 
10,402

 
11,256

 
(21,658
)
 

Deferred tax liabilities

 

 
14,780

 

 
14,780

Other liabilities

 
842

 
2,691

 

 
3,533

Due to consolidated affiliates

 

 
213

 
(213
)
 

Total liabilities
10,490

 
23,925

 
51,649

 
(22,618
)
 
63,446

Commitments and contingencies
 
 
 
 
 
 
 
 
 
Total stockholders' equity
19,020

 
19,012

 
24,684

 
(43,696
)
 
19,020

Total liabilities and stockholders' equity
$
29,510

 
$
42,937

 
$
76,333

 
$
(66,314
)
 
$
82,466



CONDENSED CONSOLIDATING BALANCE SHEET
 
March 31, 2017
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
2,461

 
$
409

 
$

 
$
2,870

Short-term investments

 
5,444

 

 

 
5,444

Accounts and notes receivable, net
86

 
1

 
4,137

 
(86
)
 
4,138

Device and accessory inventory

 

 
1,064

 

 
1,064

Prepaid expenses and other current assets

 
11

 
590

 

 
601

Total current assets
86

 
7,917

 
6,200

 
(86
)
 
14,117

Investments in subsidiaries
18,800

 
23,854

 

 
(42,654
)
 

Property, plant and equipment, net

 

 
19,209

 

 
19,209

Due from consolidated affiliates
25

 
13,032

 

 
(13,057
)
 

Notes receivable from consolidated affiliate
10,394

 
575

 

 
(10,969
)
 

Intangible assets
 
 
 
 
 
 
 
 
 
Goodwill

 

 
6,579

 

 
6,579

FCC licenses and other

 

 
40,585

 

 
40,585

Definite-lived intangible assets, net

 

 
3,320

 

 
3,320

Other assets

 
134

 
1,179

 

 
1,313

Total assets
$
29,305

 
$
45,512

 
$
77,072

 
$
(66,766
)
 
$
85,123

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$

 
$

 
$
3,281

 
$

 
$
3,281

Accrued expenses and other current liabilities
103

 
478

 
3,646

 
(86
)
 
4,141

Current portion of long-term debt, financing and capital lease obligations

 
1,356

 
3,680

 

 
5,036

Total current liabilities
103

 
1,834

 
10,607

 
(86
)
 
12,458

Long-term debt, financing and capital lease obligations
10,394

 
13,647

 
11,837

 

 
35,878

Notes payable to consolidated affiliate

 
10,394

 
575

 
(10,969
)
 

Deferred tax liabilities

 

 
14,416

 

 
14,416

Other liabilities

 
837

 
2,726

 

 
3,563

Due to consolidated affiliates

 

 
13,057

 
(13,057
)
 

Total liabilities
10,497

 
26,712

 
53,218

 
(24,112
)
 
66,315

Commitments and contingencies
 
 
 
 
 
 
 
 
 
Total stockholders' equity
18,808

 
18,800

 
23,854

 
(42,654
)
 
18,808

Total liabilities and stockholders' equity
$
29,305

 
$
45,512

 
$
77,072

 
$
(66,766
)
 
$
85,123

Condensed Income Statement
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME
 
Three Months Ended September 30, 2017
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Net operating revenues
$

 
$

 
$
7,927

 
$

 
$
7,927

Net operating expenses:
 
 
 
 
 
 
 
 
 
Cost of services (exclusive of depreciation and amortization included below)

 

 
1,698

 

 
1,698

Cost of products (exclusive of depreciation and amortization included below)

 

 
1,404

 

 
1,404

Selling, general and administrative

 

 
2,013

 

 
2,013

Depreciation

 

 
1,885

 

 
1,885

Amortization

 

 
209

 

 
209

Other, net

 

 
117

 

 
117

 

 

 
7,326

 

 
7,326

Operating income

 

 
601

 

 
601

Other (expense) income:
 
 
 
 
 
 
 
 
 
Interest income
197

 
280

 
5

 
(449
)
 
33

Interest expense
(197
)
 
(438
)
 
(409
)
 
449

 
(595
)
(Losses) earnings of subsidiaries
(48
)
 
110

 

 
(62
)
 

Other income, net

 

 
11

 

 
11

 
(48
)
 
(48
)
 
(393
)
 
(62
)
 
(551
)
(Loss) income before income taxes
(48
)
 
(48
)
 
208

 
(62
)
 
50

Income tax expense

 

 
(98
)
 

 
(98
)
Net (loss) income
(48
)
 
(48
)
 
110

 
(62
)
 
(48
)
Other comprehensive income (loss)
16

 
16

 
7

 
(23
)
 
16

Comprehensive (loss) income
$
(32
)
 
$
(32
)
 
$
117

 
$
(85
)
 
$
(32
)
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME
 
Three Months Ended September 30, 2016
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Net operating revenues
$

 
$

 
$
8,247

 
$

 
$
8,247

Net operating expenses:
 
 
 
 
 
 
 
 
 
Cost of services (exclusive of depreciation and amortization included below)

 

 
2,101

 

 
2,101

Cost of products (exclusive of depreciation and amortization included below)

 

 
1,693

 

 
1,693

Selling, general and administrative

 

 
1,995

 

 
1,995

Severance and exit costs

 

 
(5
)
 

 
(5
)
Depreciation

 

 
1,710

 

 
1,710

Amortization

 

 
271

 

 
271

Other, net

 

 
(140
)
 

 
(140
)
 

 

 
7,625

 

 
7,625

Operating income

 

 
622

 

 
622

Other (expense) income:
 
 
 
 
 
 
 
 
 
Interest income
197

 
34

 
6

 
(222
)
 
15

Interest expense
(197
)
 
(439
)
 
(216
)
 
222

 
(630
)
(Losses) earnings of subsidiaries
(142
)
 
264

 

 
(122
)
 

Other expense, net

 
(1
)
 
(29
)
 

 
(30
)
 
(142
)
 
(142
)
 
(239
)
 
(122
)
 
(645
)
(Loss) income before income taxes
(142
)
 
(142
)
 
383

 
(122
)
 
(23
)
Income tax expense

 

 
(119
)
 

 
(119
)
Net (loss) income
(142
)
 
(142
)
 
264

 
(122
)
 
(142
)
Other comprehensive income (loss)
8

 
8

 
6

 
(14
)
 
8

Comprehensive (loss) income
$
(134
)
 
$
(134
)
 
$
270

 
$
(136
)
 
$
(134
)



CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
 
Six Months Ended September 30, 2017
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Net operating revenues
$

 
$

 
$
16,084

 
$

 
$
16,084

Net operating expenses:
 
 
 
 
 
 
 
 
 
Cost of services (exclusive of depreciation and amortization included below)

 

 
3,407

 

 
3,407

Cost of products (exclusive of depreciation and amortization included below)

 

 
2,949

 

 
2,949

Selling, general and administrative

 

 
3,951

 

 
3,951

Severance and exit costs

 

 

 

 

Depreciation

 

 
3,716

 

 
3,716

Amortization

 

 
432

 

 
432

Other, net

 
(55
)
 
(80
)
 

 
(135
)
 

 
(55
)
 
14,375

 

 
14,320

Operating income

 
55

 
1,709

 

 
1,764

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
395

 
325

 
9

 
(677
)
 
52

Interest expense
(395
)
 
(789
)
 
(701
)
 
677

 
(1,208
)
Earnings (losses) of subsidiaries
158

 
634

 

 
(792
)
 

Other (expense) income, net

 
(67
)
 
7

 

 
(60
)
 
158

 
103

 
(685
)
 
(792
)
 
(1,216
)
Income (loss) before income taxes
158

 
158

 
1,024

 
(792
)
 
548

Income tax expense

 

 
(390
)
 

 
(390
)
Net income (loss)
158

 
158

 
634

 
(792
)
 
158

Other comprehensive income (loss)
12

 
12

 
12

 
(24
)
 
12

Comprehensive income (loss)
$
170

 
$
170

 
$
646

 
$
(816
)
 
$
170


CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME
 
Six Months Ended September 30, 2016
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Net operating revenues
$

 
$

 
$
16,259

 
$

 
$
16,259

Net operating expenses:
 
 
 
 
 
 
 
 
 
Cost of services (exclusive of depreciation and amortization included below)

 

 
4,200

 

 
4,200

Cost of products (exclusive of depreciation and amortization included below)

 

 
3,112

 

 
3,112

Selling, general and administrative

 

 
3,912

 

 
3,912

Severance and exit costs

 

 
11

 

 
11

Depreciation

 

 
3,390

 

 
3,390

Amortization

 

 
558

 

 
558

Other, net

 

 
93

 

 
93

 

 

 
15,276

 

 
15,276

Operating income

 

 
983

 

 
983

Other (expense) income:
 
 
 
 
 
 
 
 
 
Interest income
395

 
62

 
9

 
(441
)
 
25

Interest expense
(395
)
 
(862
)
 
(429
)
 
441

 
(1,245
)
(Losses) earnings of subsidiaries
(444
)
 
358

 

 
86

 

Other expense, net

 
(2
)
 
(30
)
 

 
(32
)
 
(444
)
 
(444
)
 
(450
)
 
86

 
(1,252
)
(Loss) income before income taxes
(444
)
 
(444
)
 
533

 
86

 
(269
)
Income tax expense

 

 
(175
)
 

 
(175
)
Net (loss) income
(444
)
 
(444
)
 
358

 
86

 
(444
)
Other comprehensive income (loss)
7

 
7

 
7

 
(14
)
 
7

Comprehensive (loss) income
$
(437
)
 
$
(437
)
 
$
365

 
$
72

 
$
(437
)

Condensed Cash Flow Statement
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
 
Six Months Ended September 30, 2017
 
Parent/Issuer
 
Subsidiary Guarantor
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by operating activities
$

 
$
(1,076
)
 
$
4,315

 
$

 
$
3,239

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures - network and other

 

 
(1,803
)
 

 
(1,803
)
Capital expenditures - leased devices

 

 
(1,105
)
 

 
(1,105
)
Expenditures relating to FCC licenses

 

 
(19
)
 

 
(19
)
Proceeds from sales and maturities of short-term investments

 
5,582

 

 

 
5,582

Purchases of short-term investments

 
(1,748
)
 

 

 
(1,748
)
Change in amounts due from/due to consolidated affiliates

 
1,628

 

 
(1,628
)
 

Proceeds from sales of assets and FCC licenses

 

 
218

 

 
218

Other, net

 

 
(1
)
 

 
(1
)
Net cash provided by (used in) investing activities

 
5,462

 
(2,710
)
 
(1,628
)
 
1,124

Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt and financings

 

 
1,860

 

 
1,860

Repayments of debt, financing and capital lease obligations

 
(2,520
)
 
(1,741
)
 

 
(4,261
)
Debt financing costs

 
(9
)
 

 

 
(9
)
Change in amounts due from/due to consolidated affiliates

 

 
(1,628
)
 
1,628

 

Other, net

 
1

 
(22
)
 

 
(21
)
Net cash (used in) provided by financing activities

 
(2,528
)
 
(1,531
)
 
1,628

 
(2,431
)
Net increase in cash and cash equivalents

 
1,858

 
74

 

 
1,932

Cash and cash equivalents, beginning of period

 
2,461

 
409

 

 
2,870

Cash and cash equivalents, end of period
$

 
$
4,319

 
$
483

 
$

 
$
4,802

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
 
Six Months Ended September 30, 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
$

 
$
(780
)
 
$
3,148

 
$
(118
)
 
$
2,250

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures - network and other

 

 
(943
)
 

 
(943
)
Capital expenditures - leased devices

 

 
(763
)
 

 
(763
)
Expenditures relating to FCC licenses

 

 
(32
)
 

 
(32
)
Proceeds from sales and maturities of short-term investments

 
1,087

 
35

 

 
1,122

Purchases of short-term investments

 
(2,737
)
 
(35
)
 

 
(2,772
)
Change in amounts due from/due to consolidated affiliates

 
3,883

 

 
(3,883
)
 

Proceeds from sales of assets and FCC licenses

 

 
66

 

 
66

Intercompany note advance to consolidated affiliate

 
(70
)
 

 
70

 

Proceeds from intercompany note advance to consolidated affiliate

 
62

 

 
(62
)
 

Other, net

 

 
(36
)
 

 
(36
)
Net cash provided by (used in) investing activities

 
2,225

 
(1,708
)
 
(3,875
)
 
(3,358
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from debt and financings

 

 
3,278

 

 
3,278

Repayments of debt, financing and capital lease obligations

 

 
(667
)
 

 
(667
)
Debt financing costs

 
(110
)
 
(65
)
 

 
(175
)
Intercompany dividends paid to consolidated affiliate

 

 
(118
)
 
118

 

Change in amounts due from/due to consolidated affiliates

 

 
(3,883
)
 
3,883

 

Intercompany note advance from consolidated affiliate

 

 
70

 
(70
)
 

Repayments of intercompany note advance from consolidated affiliate

 

 
(62
)
 
62

 

Other, net

 
20

 
17

 

 
37

Net cash (used in) provided by financing activities

 
(90
)
 
(1,430
)
 
3,993

 
2,473

Net increase in cash and cash equivalents

 
1,355

 
10

 

 
1,365

Cash and cash equivalents, beginning of period

 
2,154

 
487

 

 
2,641

Cash and cash equivalents, end of period
$

 
$
3,509

 
$
497

 
$

 
$
4,006