Arrangements with Variable Interest Entities and Joint Ventures

As described in Note 2, the Company consolidates its non-controlling membership interest in Savary Island in accordance with the authoritative guidance for the consolidation of variable interest entities because Savary Island is a variable interest entity and, among other things, the Company has entered into an agreement with Savary Island's other member which establishes a specified purchase price in the event that Ring Island exercises its right to sell its membership interest to the Company. Also, as described in Note 2, the Company consolidates its controlling membership interest in STX Wireless in accordance with the authoritative guidance for consolidations based on the voting interest model. All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements.

The aggregate carrying amount and classification of the assets and liabilities of Savary Island, excluding intercompany accounts and transactions, as of March 31, 2012 and December 31, 2011 are presented in the table below (in thousands):



	March 31, 2012		December 31, 2011

Assets
Cash and cash equivalents	$	11,051	$	7,084
Wireless licenses	34,022		41,947
Assets held for sale (1)	$	93,115	$	85,190
Total assets	$	138,188	$	134,221
Liabilities
Other current liabilities	$	8	$	5
Total liabilities	$	8	$	5


(1)	Represents the carrying value of wireless licenses to be sold to Verizon Wireless and assigned to T-Mobile at the closings under the license purchase and exchange agreements discussed in "Note 7. Significant Acquisitions and Other Transactions."

The following table provides a summary of the changes in value of the Company's redeemable non-controlling interests (in thousands):



	Three Months Ended March 31,
	2012			2011

Beginning balance, January 1	$	95,910		$	104,788
Accretion of redeemable non-controlling interests	4,105			9,771
Other	(255		)	(269		)
Ending balance, March 31,	$	99,760		$	114,290