|
Condensed Consolidating Financial Statements (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Condensed Consolidating Financial Statements |
|
| Condensed Consolidating Balance Sheet |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings, Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer)(1) | | Guarantor Subsidiaries(2) | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | ASSETS | Current assets | |
| | |
| | |
| | |
| | |
| | |
| Cash and cash equivalents | $ | 106,747 |
| | $ | 25,170 |
| | $ | 14,505 |
| | $ | 427,178 |
| | $ | — |
| | $ | 573,600 |
| Short-term investments | — |
| | — |
| | — |
| | 153,612 |
| | — |
| | 153,612 |
| Accounts receivable, net | — |
| | — |
| | 290 |
| | 398,388 |
| | — |
| | 398,678 |
| Short-term intercompany receivables | 27,803 |
| | 65,130 |
| | 99,459 |
| | 7,030 |
| | (199,422 | ) | | — |
| Handset and accessory inventory | — |
| | — |
| | — |
| | 207,633 |
| | — |
| | 207,633 |
| Deferred income taxes, net | — |
| | — |
| | 857 |
| | 49,835 |
| | — |
| | 50,692 |
| Prepaid expenses and other | 7,942 |
| | — |
| | 8,352 |
| | 312,903 |
| | — |
| | 329,197 |
| Total current assets | 142,492 |
| | 90,300 |
| | 123,463 |
| | 1,556,579 |
| | (199,422 | ) | | 1,713,412 |
| Property, plant and equipment, net | — |
| | — |
| | 48,168 |
| | 2,384,765 |
| | — |
| | 2,432,933 |
| Intangible assets, net | 18,000 |
| | — |
| | — |
| | 804,124 |
| | — |
| | 822,124 |
| Deferred income taxes, net | — |
| | 13,561 |
| | — |
| | 5,772 |
| | (13,566 | ) | | 5,767 |
| Long-term intercompany receivables | 1,393,109 |
| | 3,488,284 |
| | 342,883 |
| | 1,354 |
| | (5,225,630 | ) | | — |
| Other assets | 947 |
| | — |
| | 392 |
| | 455,016 |
| | — |
| | 456,355 |
| Total assets | $ | 1,554,548 |
| | $ | 3,592,145 |
| | $ | 514,906 |
| | $ | 5,207,610 |
| | $ | (5,438,618 | ) | | $ | 5,430,591 |
| | | | | | | | | | | | | LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | Liabilities not subject to compromise | | | | | | | | | | | | Current liabilities | |
| | |
| | |
| | |
| | |
| | |
| Accounts payable | $ | — |
| | $ | — |
| | $ | 1,995 |
| | $ | 277,809 |
| | $ | — |
| | $ | 279,804 |
| Short-term intercompany payables | — |
| | 9,764 |
| | 4,958 |
| | 182,239 |
| | (196,961 | ) | | — |
| Accrued expenses and other | — |
| | — |
| | 18,993 |
| | 544,528 |
| | (533 | ) | | 562,988 |
| Deferred revenues | — |
| | — |
| | — |
| | 89,019 |
| | — |
| | 89,019 |
| Current portion of long-term debt | — |
| | — |
| | — |
| | 777,569 |
| | — |
| | 777,569 |
| Total current liabilities | — |
| | 9,764 |
| | 25,946 |
| | 1,871,164 |
| | (197,494 | ) | | 1,709,380 |
| Long-term debt | — |
| | — |
| | — |
| | 734,823 |
| | — |
| | 734,823 |
| Deferred income tax liabilities | 1,529 |
| | — |
| | 14,524 |
| | 55,601 |
| | (13,566 | ) | | 58,088 |
| Long-term intercompany payables | — |
| | — |
| | — |
| | 139,206 |
| | (139,206 | ) | | — |
| Other long-term liabilities | 100 |
| | — |
| | 2,217 |
| | 297,254 |
| | — |
| | 299,571 |
| Total liabilities not subject to compromise | 1,629 |
| | 9,764 |
| | 42,687 |
| | 3,098,048 |
| | (350,266 | ) | | 2,801,862 |
| Liabilities subject to compromise | 30,584 |
| | 2,858,128 |
| | 9,899 |
| | 1,694,882 |
| | — |
| | 4,593,493 |
| Intercompany liabilities subject to compromise | 3,487,099 |
| | 115,458 |
| | 1,492,946 |
| | 709,392 |
| | (5,804,895 | ) | | — |
| Total liabilities subject to compromise | 3,517,683 |
| | 2,973,586 |
| | 1,502,845 |
| | 2,404,274 |
| | (5,804,895 | ) | | 4,593,493 |
| Total stockholders’ (deficit) equity | (1,964,764 | ) | | 608,795 |
| | (1,030,626 | ) | | (294,712 | ) | | 716,543 |
| | (1,964,764 | ) | Total liabilities and stockholders’ (deficit) equity | $ | 1,554,548 |
| | $ | 3,592,145 |
| | $ | 514,906 |
| | $ | 5,207,610 |
| | $ | (5,438,618 | ) | | $ | 5,430,591 |
|
_______________________________________ | | (1) | NII Capital Corp. is the issuer of our 7.625% senior notes due 2021, our 10.0% senior notes due 2016 and our 8.875% senior notes due 2019. |
| | (2) | Represents our subsidiaries that have provided guarantees of the obligations of NII Capital Corp. under our 7.625% senior notes due 2021, our 10.0% senior notes due 2016 and our 8.875% notes due 2019. |
CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings, Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | | ASSETS | Current assets | |
| | |
| | |
| | |
| | |
| | |
| Cash and cash equivalents | $ | 356,314 |
| | $ | — |
| | $ | 5,586 |
| | $ | 1,368,435 |
| | $ | — |
| | $ | 1,730,335 |
| Short-term investments | — |
| | — |
| | — |
| | 585,760 |
| | — |
| | 585,760 |
| Accounts receivable, net | — |
| | — |
| | 627 |
| | 510,779 |
| | — |
| | 511,406 |
| Short-term intercompany receivables | 31,803 |
| | 129,810 |
| | 72,595 |
| | 4,779 |
| | (238,987 | ) | | — |
| Handset and accessory inventory | — |
| | — |
| | — |
| | 336,620 |
| | — |
| | 336,620 |
| Deferred income taxes, net | — |
| | — |
| | 1,145 |
| | 126,250 |
| | — |
| | 127,395 |
| Prepaid expenses and other | 6,832 |
| | — |
| | 7,914 |
| | 382,828 |
| | — |
| | 397,574 |
| Assets related to discontinued operations | — |
| | — |
| | — |
| | 59,096 |
| | — |
| | 59,096 |
| Total current assets | 394,949 |
| | 129,810 |
| | 87,867 |
| | 3,374,547 |
| | (238,987 | ) | | 3,748,186 |
| Property, plant and equipment, net | — |
| | — |
| | 130,729 |
| | 3,207,103 |
| | (287 | ) | | 3,337,545 |
| Investments in and advances to affiliates | 1,867,753 |
| | 1,503,202 |
| | 1,562,080 |
| | — |
| | (4,933,035 | ) | | — |
| Intangible assets, net | 18,000 |
| | — |
| | — |
| | 962,369 |
| | — |
| | 980,369 |
| Deferred income taxes, net | 16,025 |
| | — |
| | — |
| | 26,716 |
| | (16,028 | ) | | 26,713 |
| Long-term intercompany receivables | 1,474,658 |
| | 3,714,760 |
| | 701,680 |
| | 1,354 |
| | (5,892,452 | ) | | — |
| Other assets | 29,381 |
| | 32,556 |
| | 15,383 |
| | 399,986 |
| | — |
| | 477,306 |
| Assets related to discontinued operations | — |
| | — |
| | — |
| | 109,835 |
| | — |
| | 109,835 |
| Total assets | $ | 3,800,766 |
| | $ | 5,380,328 |
| | $ | 2,497,739 |
| | $ | 8,081,910 |
| | $ | (11,080,789 | ) | | $ | 8,679,954 |
| | | | | | | | | | | | | LIABILITIES AND STOCKHOLDERS’ EQUITY | Current liabilities | |
| | |
| | |
| | |
| | |
| | |
| Accounts payable | $ | — |
| | $ | — |
| | $ | 727 |
| | $ | 345,401 |
| | $ | — |
| | $ | 346,128 |
| Short-term intercompany payables | 464,798 |
| | 132,007 |
| | 1,485,835 |
| | 159,322 |
| | (2,241,962 | ) | | — |
| Accrued expenses and other | — |
| | 59,490 |
| | 26,089 |
| | 873,702 |
| | (222 | ) | | 959,059 |
| Deferred revenues | — |
| | — |
| | — |
| | 127,782 |
| | — |
| | 127,782 |
| Current portion of long-term debt | — |
| | — |
| | 1,871 |
| | 94,968 |
| | — |
| | 96,839 |
| Deposits related to 2013 sale of towers | — |
| | — |
| | — |
| | 720,013 |
| | — |
| | 720,013 |
| Liabilities related to discontinued operations | — |
| | — |
| | — |
| | 36,769 |
| | — |
| | 36,769 |
| Total current liabilities | 464,798 |
| | 191,497 |
| | 1,514,522 |
| | 2,357,957 |
| | (2,242,184 | ) | | 2,286,590 |
| Long-term debt | 23 |
| | 2,729,321 |
| | 33,864 |
| | 2,933,424 |
| | — |
| | 5,696,632 |
| Deferred income tax liabilities | 3 |
| | 2,950 |
| | 15,384 |
| | 106,682 |
| | (16,028 | ) | | 108,991 |
| Long-term intercompany payables | 2,950,226 |
| | — |
| | 10,390 |
| | 929,990 |
| | (3,890,606 | ) | | — |
| Other long-term liabilities | 30,329 |
| | — |
| | 10,248 |
| | 186,451 |
| | — |
| | 227,028 |
| Liabilities related to discontinued operations | — |
| | — |
| | — |
| | 5,326 |
| | — |
| | 5,326 |
| Total liabilities | 3,445,379 |
| | 2,923,768 |
| | 1,584,408 |
| | 6,519,830 |
| | (6,148,818 | ) | | 8,324,567 |
| Total stockholders’ equity | 355,387 |
| | 2,456,560 |
| | 913,331 |
| | 1,562,080 |
| | (4,931,971 | ) | | 355,387 |
| Total liabilities and stockholders’ equity | $ | 3,800,766 |
| | $ | 5,380,328 |
| | $ | 2,497,739 |
| | $ | 8,081,910 |
| | $ | (11,080,789 | ) | | $ | 8,679,954 |
|
|
| Condensed Consolidating Statement Of Operations |
For the Year Ended December 31, 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings,
Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | Operating revenues | $ | — |
| | $ | — |
| | $ | 2,143 |
| | $ | 3,688,369 |
| | $ | (1,792 | ) | | $ | 3,688,720 |
| Operating expenses | |
| | |
| | |
| | |
| | |
| | |
| Cost of revenues (exclusive of depreciation and amortization included below) | — |
| | — |
| | — |
| | 2,282,326 |
| | — |
| | 2,282,326 |
| Selling, general and administrative | 2,145 |
| | 2,567 |
| | 140,119 |
| | 1,561,410 |
| | (7,183 | ) | | 1,699,058 |
| Impairment and restructuring charges | — |
| | — |
| | 63,393 |
| | 157,349 |
| | — |
| | 220,742 |
| Gain on sale of towers | — |
| | — |
| | — |
| | (74,631 | ) | | — |
| | (74,631 | ) | Management fee and other | — |
| | — |
| | (48,852 | ) | | 51,672 |
| | (2,820 | ) | | — |
| Depreciation and amortization | — |
| | — |
| | 19,309 |
| | 653,396 |
| | — |
| | 672,705 |
| | 2,145 |
| | 2,567 |
| | 173,969 |
| | 4,631,522 |
| | (10,003 | ) | | 4,800,200 |
| Operating loss | (2,145 | ) | | (2,567 | ) | | (171,826 | ) | | (943,153 | ) | | 8,211 |
| | (1,111,480 | ) | Other (expense) income | |
| | |
| | |
| | |
| | |
| | |
| Interest expense, net | (570 | ) | | (171,646 | ) | | (543 | ) | | (478,784 | ) | | 202,198 |
| | (449,345 | ) | Intercompany interest expense | (165,324 | ) | | — |
| | (50 | ) | | 165,374 |
| | — |
| | — |
| Interest income | 280 |
| | 1 |
| | 9 |
| | 66,135 |
| | — |
| | 66,425 |
| Intercompany interest income | 411 |
| | 200,467 |
| | 1,317 |
| | 3 |
| | (202,198 | ) | | — |
| Foreign currency transaction losses, net | — |
| | — |
| | — |
| | (130,499 | ) | | — |
| | (130,499 | ) | Equity in loss of affiliates | (1,805,438 | ) | | (1,593,607 | ) | | (1,589,367 | ) | | — |
| | 4,988,412 |
| | — |
| Other income (expense), net | 8,212 |
| | — |
| | (2 | ) | | (7,706 | ) | | (7,225 | ) | | (6,721 | ) | | (1,962,429 | ) | | (1,564,785 | ) | | (1,588,636 | ) | | (385,477 | ) | | 4,981,187 |
| | (520,140 | ) | Loss from continuing operations before reorganization items and income tax benefit (provision) | (1,964,574 | ) | | (1,567,352 | ) | | (1,760,462 | ) | | (1,328,630 | ) | | 4,989,398 |
| | (1,631,620 | ) | Reorganization items | (291 | ) | | (45,652 | ) | | (13,932 | ) | | (11,726 | ) | | — |
| | (71,601 | ) | Income tax benefit (provision) | 7,167 |
| | 6,747 |
| | (18,678 | ) | | (69,327 | ) | | — |
| | (74,091 | ) | Net loss from continuing operations | (1,957,698 | ) | | (1,606,257 | ) | | (1,793,072 | ) | | (1,409,683 | ) | | 4,989,398 |
| | (1,777,312 | ) | Loss from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | (179,686 | ) | | (700 | ) | | (180,386 | ) | Net loss | $ | (1,957,698 | ) | | $ | (1,606,257 | ) | | $ | (1,793,072 | ) | | $ | (1,589,369 | ) | | $ | 4,988,698 |
| | $ | (1,957,698 | ) | | | | | | | | | | | | | Comprehensive loss, net of income taxes | | | | | | | | | | | | Foreign currency translation adjustment | $ | (340,847 | ) | | $ | (342,432 | ) | | $ | (342,432 | ) | | $ | (342,432 | ) | | $ | 1,027,296 |
| | $ | (340,847 | ) | Reclassification adjustment for sale of Nextel Chile | (33,885 | ) | | (33,885 | ) | | (33,885 | ) | | (33,885 | ) | | 101,655 |
| | (33,885 | ) | Other | (544 | ) | | (544 | ) | | (544 | ) | | (544 | ) | | 1,632 |
| | (544 | ) | Other comprehensive loss | (375,276 | ) | | (376,861 | ) | | (376,861 | ) | | (376,861 | ) | | 1,130,583 |
| | (375,276 | ) | Net loss | (1,957,698 | ) | | (1,606,257 | ) | | (1,793,072 | ) | | (1,589,369 | ) | | 4,988,698 |
| | (1,957,698 | ) | Total comprehensive loss | $ | (2,332,974 | ) | | $ | (1,983,118 | ) | | $ | (2,169,933 | ) | | $ | (1,966,230 | ) | | $ | 6,119,281 |
| | $ | (2,332,974 | ) |
For the Year Ended December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings,
Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | Operating revenues | $ | — |
| | $ | — |
| | $ | 3,114 |
| | $ | 4,711,525 |
| | $ | (3,072 | ) | | $ | 4,711,567 |
| Operating expenses | |
| | |
| | |
| | |
| | |
| | |
| Cost of revenues (exclusive of depreciation and amortization included below) | — |
| | — |
| | — |
| | 2,276,929 |
| | — |
| | 2,276,929 |
| Selling, general and administrative | 3,136 |
| | — |
| | 167,180 |
| | 1,779,719 |
| | (8,262 | ) | | 1,941,773 |
| Impairments and restructuring charges | — |
| | — |
| | 97,063 |
| | 71,480 |
| | — |
| | 168,543 |
| Management fee and other | — |
| | — |
| | (75,116 | ) | | 106,264 |
| | (31,148 | ) | | — |
| Depreciation and amortization | — |
| | — |
| | 28,055 |
| | 664,872 |
| | — |
| | 692,927 |
| | 3,136 |
| | — |
| | 217,182 |
| | 4,899,264 |
| | (39,410 | ) | | 5,080,172 |
| Operating loss | (3,136 | ) | | — |
| | (214,068 | ) | | (187,739 | ) | | 36,338 |
| | (368,605 | ) | Other (expense) income | |
| | |
| | |
| | |
| | |
| | |
| Interest expense, net | (562 | ) | | (240,132 | ) | | (1,379 | ) | | (284,457 | ) | | — |
| | (526,530 | ) | Intercompany interest expense | (234,799 | ) | | — |
| | (59 | ) | | (51,740 | ) | | 286,598 |
| | — |
| Interest income | 913 |
| | — |
| | 9 |
| | 42,405 |
| | — |
| | 43,327 |
| Intercompany interest income | 1,340 |
| | 284,709 |
| | 549 |
| | — |
| | (286,598 | ) | | — |
| Foreign currency transaction losses, net | — |
| | — |
| | — |
| | (123,369 | ) | | — |
| | (123,369 | ) | Equity in loss of affiliates | (1,473,856 | ) | | (1,274,274 | ) | | (1,269,438 | ) | | — |
| | 4,017,568 |
| | — |
| Other income (expense), net | 36,017 |
| | — |
| | 612 |
| | (13,150 | ) | | (36,338 | ) | | (12,859 | ) | | (1,670,947 | ) | | (1,229,697 | ) | | (1,269,706 | ) | | (430,311 | ) | | 3,981,230 |
| | (619,431 | ) | Loss from continuing operations before income tax benefit (provision) | (1,674,083 | ) | | (1,229,697 | ) | | (1,483,774 | ) | | (618,050 | ) | | 4,017,568 |
| | (988,036 | ) | Income tax benefit (provision) | 24,484 |
| | (16,548 | ) | | (18,111 | ) | | (435,877 | ) | | — |
| | (446,052 | ) | Net loss from continuing operations | (1,649,599 | ) | | (1,246,245 | ) | | (1,501,885 | ) | | (1,053,927 | ) | | 4,017,568 |
| | (1,434,088 | ) | Loss from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | (215,511 | ) | | — |
| | (215,511 | ) | Net loss | $ | (1,649,599 | ) | | $ | (1,246,245 | ) | | $ | (1,501,885 | ) | | $ | (1,269,438 | ) | | $ | 4,017,568 |
| | $ | (1,649,599 | ) | | | | | | | | | | | | | Comprehensive loss, net of income taxes | | | | | | | | | | | | Foreign currency translation adjustment | $ | (334,893 | ) | | $ | (335,183 | ) | | $ | (335,183 | ) | | $ | (335,183 | ) | | $ | 1,005,549 |
| | $ | (334,893 | ) | Other | 2,257 |
| | 2,257 |
| | 2,257 |
| | 2,257 |
| | (6,771 | ) | | 2,257 |
| Other comprehensive loss | (332,636 | ) | | (332,926 | ) | | (332,926 | ) | | (332,926 | ) | | 998,778 |
| | (332,636 | ) | Net loss | (1,649,599 | ) | | (1,246,245 | ) | | (1,501,885 | ) | | (1,269,438 | ) | | 4,017,568 |
| | (1,649,599 | ) | Total comprehensive loss | $ | (1,982,235 | ) | | $ | (1,579,171 | ) | | $ | (1,834,811 | ) | | $ | (1,602,364 | ) | | $ | 5,016,346 |
| | $ | (1,982,235 | ) |
For the Year Ended December 31, 2012
| | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings,
Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | Operating revenues | $ | — |
| | $ | — |
| | $ | 3,071 |
| | $ | 5,694,718 |
| | $ | (4,554 | ) | | $ | 5,693,235 |
| Operating expenses | |
| | |
| | |
| | |
| | |
| | |
| Cost of revenues (exclusive of depreciation and amortization included below) | — |
| | — |
| | 73 |
| | 2,303,419 |
| | (1,483 | ) | | 2,302,009 |
| Selling, general and administrative | 3,180 |
| | 2 |
| | 309,680 |
| | 1,962,033 |
| | (12,973 | ) | | 2,261,922 |
| Impairment and restructuring charges | — |
| | — |
| | — |
| | 30,401 |
| | — |
| | 30,401 |
| Management fee and other | — |
| | — |
| | (126,971 | ) | | 225,202 |
| | (98,231 | ) | | — |
| Depreciation and amortization | — |
| | — |
| | 36,079 |
| | 569,082 |
| | — |
| | 605,161 |
| | 3,180 |
| | 2 |
| | 218,861 |
| | 5,090,137 |
| | (112,687 | ) | | 5,199,493 |
| Operating (loss) income | (3,180 | ) | | (2 | ) | | (215,790 | ) | | 604,581 |
| | 108,133 |
| | 493,742 |
| Other (expense) income | |
| | |
| | |
| | |
| | |
| | |
| Interest expense, net | (23,646 | ) | | (229,652 | ) | | (2,072 | ) | | (104,425 | ) | | — |
| | (359,795 | ) | Intercompany interest expense | (215,501 | ) | | — |
| | — |
| | (84,202 | ) | | 299,703 |
| | — |
| Interest income | 15,292 |
| | 24,181 |
| | 801 |
| | (6,489 | ) | | — |
| | 33,785 |
| Intercompany interest income | 1 |
| | 261,352 |
| | 186 |
| | 38,164 |
| | (299,703 | ) | | — |
| Foreign currency transaction losses | — |
| | — |
| | — |
| | (63,330 | ) | | — |
| | (63,330 | ) | Equity in loss of affiliates | (639,902 | ) | | (443,294 | ) | | (434,443 | ) | | — |
| | 1,517,639 |
| | — |
| Other income (expense), net | 86,324 |
| | — |
| | 101 |
| | (6,389 | ) | | (108,133 | ) | | (28,097 | ) | | (777,432 | ) | | (387,413 | ) | | (435,427 | ) | | (226,671 | ) | | 1,409,506 |
| | (417,437 | ) | (Loss) income before income tax benefit (provision) | (780,612 | ) | | (387,415 | ) | | (651,217 | ) | | 377,910 |
| | 1,517,639 |
| | 76,305 |
| Income tax benefit (provision) | 15,363 |
| | (19,731 | ) | | (24,833 | ) | | (128,943 | ) | | — |
| | (158,144 | ) | Net (loss) income from continuing operations | (765,249 | ) | | (407,146 | ) | | (676,050 | ) | | 248,967 |
| | 1,517,639 |
| | (81,839 | ) | Loss from discontinued operations, net of income taxes | — |
| | — |
| | — |
| | (683,410 | ) | | — |
| | (683,410 | ) | Net loss | $ | (765,249 | ) | | $ | (407,146 | ) | | $ | (676,050 | ) | | $ | (434,443 | ) | | $ | 1,517,639 |
| | $ | (765,249 | ) | | | | | | | | | | | | | Comprehensive loss, net of income taxes | | | | | | | | | | | | Foreign currency translation adjustment | $ | (97,589 | ) | | $ | (96,593 | ) | | $ | (96,593 | ) | | $ | (96,593 | ) | | $ | 289,779 |
| | $ | (97,589 | ) | Other | (1,802 | ) | | (1,802 | ) | | (1,802 | ) | | (1,802 | ) | | 5,406 |
| | (1,802 | ) | Other comprehensive loss | (99,391 | ) | | (98,395 | ) | | (98,395 | ) | | (98,395 | ) | | 295,185 |
| | (99,391 | ) | Net loss | (765,249 | ) | | (407,146 | ) | | (676,050 | ) | | (434,443 | ) | | 1,517,639 |
| | (765,249 | ) | Total comprehensive loss | $ | (864,640 | ) | | $ | (505,541 | ) | | $ | (774,445 | ) | | $ | (532,838 | ) | | $ | 1,812,824 |
| | $ | (864,640 | ) |
|
| Condensed Consolidating Statement Of Cash Flows |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings,
Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | Cash flows from operating activities: | |
| | |
| | |
| | |
| | |
| | |
| Net loss | $ | (1,957,698 | ) | | $ | (1,606,257 | ) | | $ | (1,793,072 | ) | | $ | (1,589,369 | ) | | $ | 4,988,698 |
| | $ | (1,957,698 | ) | Adjustments to reconcile net loss to net cash (used in) provided by operating activities | 1,861,773 |
| | 1,631,873 |
| | 1,640,357 |
| | 1,246,260 |
| | (4,988,698 | ) | | 1,391,565 |
| Total operating cash (used in) provided by continuing operations | (95,925 | ) | | 25,616 |
| | (152,715 | ) | | (343,109 | ) | | — |
| | (566,133 | ) | Total operating cash used in discontinued operations | — |
| | — |
| | — |
| | (62,583 | ) | | — |
| | (62,583 | ) | Net cash (used in) provided by operating activities | (95,925 | ) | | 25,616 |
| | (152,715 | ) | | (405,692 | ) | | — |
| | (628,716 | ) | Cash flows from investing activities: | |
| | |
| | |
| | |
| | |
| | |
| Capital expenditures | — |
| | — |
| | (7,012 | ) | | (605,149 | ) | | — |
| | (612,161 | ) | Purchases of investments | — |
| | — |
| | — |
| | (1,637,913 | ) | | — |
| | (1,637,913 | ) | Proceeds from sales of investments | — |
| | — |
| | — |
| | 2,092,459 |
| | — |
| | 2,092,459 |
| Changes in restricted cash and escrow accounts | 25,300 |
| | — |
| | — |
| | (163,127 | ) | | — |
| | (137,827 | ) | Investment in subsidiaries | (180,712 | ) | | (446 | ) | | — |
| | — |
| | 181,158 |
| | — |
| Other, net | 1,856 |
| | — |
| | 32,390 |
| | (70,488 | ) | | (1,856 | ) | | (38,098 | ) | Total investing cash (used in) provided by continuing operations | (153,556 | ) | | (446 | ) | | 25,378 |
| | (384,218 | ) | | 179,302 |
| | (333,540 | ) | Total investing cash used in discontinued operations | — |
| | — |
| | — |
| | (13,998 | ) | | — |
| | (13,998 | ) | Net cash (used in) provided by investing activities | (153,556 | ) | | (446 | ) | | 25,378 |
| | (398,216 | ) | | 179,302 |
| | (347,538 | ) | Cash flows from financing activities: | |
| | |
| | |
| | |
| | |
| | |
| Borrowings under equipment financing and other | — |
| | — |
| | — |
| | 14,590 |
| | — |
| | 14,590 |
| Repayments under capital leases | — |
| | — |
| | (42,414 | ) | | (6,506 | ) | | — |
| | (48,920 | ) | Repayments under equipment financing and other borrowings | — |
| | — |
| | — |
| | (39,243 | ) | | — |
| | (39,243 | ) | Payment of line of credit | — |
| | — |
| | — |
| | (54,067 | ) | | — |
| | (54,067 | ) | Capital contributions | — |
| | 20 |
| | 180,525 |
| | 613 |
| | (181,158 | ) | | — |
| Other, net | (86 | ) | | (20 | ) | | (1,855 | ) | | (527 | ) | | 1,856 |
| | (632 | ) | Net cash (used in) provided by financing activities | (86 | ) | | — |
| | 136,256 |
| | (85,140 | ) | | (179,302 | ) | | (128,272 | ) | Effect of exchange rate changes on cash and cash equivalents | — |
| | — |
| | — |
| | (55,657 | ) | | — |
| | (55,657 | ) | Change in cash and cash equivalents related to discontinued operations | — |
| | — |
| | — |
| | 3,448 |
| | — |
| | 3,448 |
| Net (decrease) increase in cash and cash equivalents | (249,567 | ) | | 25,170 |
| | 8,919 |
| | (941,257 | ) | | — |
| | (1,156,735 | ) | Cash and cash equivalents, beginning of year | 356,314 |
| | — |
| | 5,586 |
| | 1,368,435 |
| | — |
| | 1,730,335 |
| Cash and cash equivalents, end of year | $ | 106,747 |
| | $ | 25,170 |
| | $ | 14,505 |
| | $ | 427,178 |
| | $ | — |
| | $ | 573,600 |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings,
Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non- Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | Cash flows from operating activities: | |
| | |
| | |
| | |
| | |
| | |
| Net loss | $ | (1,649,599 | ) | | $ | (1,246,245 | ) | | $ | (1,501,885 | ) | | $ | (1,269,438 | ) | | $ | 4,017,568 |
| | $ | (1,649,599 | ) | Adjustments to reconcile net loss to net cash (used in) provided by operating activities | 1,477,932 |
| | 1,298,129 |
| | 1,340,701 |
| | 1,571,997 |
| | (4,067,478 | ) | | 1,621,281 |
| Total operating cash (used in) provided by continuing operations | (171,667 | ) | | 51,884 |
| | (161,184 | ) | | 302,559 |
| | (49,910 | ) | | (28,318 | ) | Total operating cash provided by (used in) discontinued operations | — |
| | — |
| | 1,440 |
| | (165,573 | ) | | — |
| | (164,133 | ) | Net cash (used in) provided by operating activities | (171,667 | ) | | 51,884 |
| | (159,744 | ) | | 136,986 |
| | (49,910 | ) | | (192,451 | ) | Cash flows from investing activities: | |
| | |
| | |
| | |
| | |
| | |
| Capital expenditures | — |
| | — |
| | (14,232 | ) | | (606,663 | ) | | — |
| | (620,895 | ) | Purchases of licenses | — |
| | — |
| | — |
| | (53,066 | ) | | — |
| | (53,066 | ) | Purchases of investments | — |
| | — |
| | — |
| | (2,360,529 | ) | | — |
| | (2,360,529 | ) | Proceeds from sales of investments | — |
| | — |
| | — |
| | 1,942,886 |
| | — |
| | 1,942,886 |
| Proceeds from 2013 sale of towers, net | — |
| | — |
| | — |
| | 721,404 |
| | — |
| | 721,404 |
| Transfers to restricted cash | (15,050 | ) | | — |
| | — |
| | (26,659 | ) | | — |
| | (41,709 | ) | Transfers from restricted cash | — |
| | — |
| | — |
| | 2,273 |
| | — |
| | 2,273 |
| Investment in subsidiaries | (191,526 | ) | | (1,974 | ) | | (1,260 | ) | | — |
| | 194,760 |
| | — |
| Other, net | 545 |
| | — |
| | — |
| | 191 |
| | (529 | ) | | 207 |
| Total investing cash used in continuing operations | (206,031 | ) | | (1,974 | ) | | (15,492 | ) | | (380,163 | ) | | 194,231 |
| | (409,429 | ) | Total investing cash provided by discontinued operations | — |
| | — |
| | — |
| | 231,817 |
| | — |
| | 231,817 |
| Net cash used in investing activities | (206,031 | ) | | (1,974 | ) | | (15,492 | ) | | (148,346 | ) | | 194,231 |
| | (177,612 | ) | Cash flows from financing activities: | |
| | |
| | |
| | |
| | |
| | |
| Gross proceeds from issuance of senior notes | — |
| | — |
| | — |
| | 1,600,000 |
| | — |
| | 1,600,000 |
| Borrowings under equipment financing and other | — |
| | — |
| | — |
| | 145,077 |
| | — |
| | 145,077 |
| Repayments under syndicated loan facilities | — |
| | — |
| | — |
| | (323,919 | ) | | — |
| | (323,919 | ) | Repayments of import financing | — |
| | — |
| | — |
| | (37,422 | ) | | — |
| | (37,422 | ) | Repayments under tower financing and other borrowings | — |
| | — |
| | (16,608 | ) | | (46,887 | ) | | — |
| | (63,495 | ) | Payment of line of credit | — |
| | — |
| | — |
| | (362,735 | ) | | — |
| | (362,735 | ) | Intercompany dividends | — |
| | (49,910 | ) | | — |
| | — |
| | 49,910 |
| | — |
| Capital contributions | — |
| | 20 |
| | 191,506 |
| | 3,234 |
| | (194,760 | ) | | — |
| Other, net | (1,010 | ) | | (20 | ) | | (545 | ) | | (26,904 | ) | | 529 |
| | (27,950 | ) | Total financing cash (used in) provided by continuing operations | (1,010 | ) | | (49,910 | ) | | 174,353 |
| | 950,444 |
| | (144,321 | ) | | 929,556 |
| Total financing cash used in discontinued operations | — |
| | — |
| | — |
| | (152,965 | ) | | — |
| | (152,965 | ) | Net cash (used in) provided by financing activities | (1,010 | ) | | (49,910 | ) | | 174,353 |
| | 797,479 |
| | (144,321 | ) | | 776,591 |
| Effect of exchange rate changes on cash and cash equivalents | — |
| | — |
| | — |
| | (56,236 | ) | | — |
| | (56,236 | ) | Change in cash and cash equivalents related to discontinued operations | — |
| | — |
| | — |
| | 15,090 |
| | — |
| | 15,090 |
| Net (decrease) increase in cash and cash equivalents | (378,708 | ) | | — |
| | (883 | ) | | 744,973 |
| | — |
| | 365,382 |
| Cash and cash equivalents, beginning of year | 735,022 |
| | — |
| | 6,469 |
| | 623,462 |
| | — |
| | 1,364,953 |
| Cash and cash equivalents, end of year | $ | 356,314 |
| | $ | — |
| | $ | 5,586 |
| | $ | 1,368,435 |
| | $ | — |
| | $ | 1,730,335 |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | | NII Holdings,
Inc. (Parent and Guarantor) | | NII Capital Corp. (Issuer) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | | (in thousands) | Cash flows from operating activities: | |
| | |
| | |
| | |
| | |
| | |
| Net loss | $ | (765,249 | ) | | $ | (407,146 | ) | | $ | (676,050 | ) | | $ | (434,443 | ) | | $ | 1,517,639 |
| | $ | (765,249 | ) | Adjustments to reconcile net loss to net cash provided by (used in) operating activities | 768,542 |
| | 567,599 |
| | 564,974 |
| | 1,296,998 |
| | (1,869,145 | ) | | 1,328,968 |
| Total operating cash provided by (used in) continuing operations | 3,293 |
| | 160,453 |
| | (111,076 | ) | | 862,555 |
| | (351,506 | ) | | 563,719 |
| Total operating cash provided by (used in) discontinued operations | — |
| | — |
| | 2,142 |
| | (212,678 | ) | | — |
| | (210,536 | ) | Net cash provided by (used in) operating activities | 3,293 |
| | 160,453 |
| | (108,934 | ) | | 649,877 |
| | (351,506 | ) | | 353,183 |
| Cash flows from investing activities: | |
| | |
| | |
| | |
| | |
| | |
| Capital expenditures | — |
| | — |
| | (92,574 | ) | | (861,308 | ) | | — |
| | (953,882 | ) | Purchases of licenses | — |
| | — |
| | — |
| | (100,185 | ) | | — |
| | (100,185 | ) | Purchases of investments | — |
| | — |
| | — |
| | (1,678,918 | ) | | — |
| | (1,678,918 | ) | Proceeds from sales of investments | 224,330 |
| | — |
| | — |
| | 1,589,453 |
| | — |
| | 1,813,783 |
| Transfers to restricted cash | — |
| | — |
| | — |
| | (11,969 | ) | | — |
| | (11,969 | ) | Transfers from restricted cash | — |
| | — |
| | — |
| | 7,882 |
| | — |
| | 7,882 |
| Intercompany borrowings | — |
| | — |
| | — |
| | (300 | ) | | 300 |
| | — |
| Investment in subsidiaries | (318,949 | ) | | (9,445 | ) | | — |
| | — |
| | 328,394 |
| | — |
| Other, net | — |
| | — |
| | — |
| | 1,018 |
| | — |
| | 1,018 |
| Total investing cash used in continuing operations | (94,619 | ) | | (9,445 | ) | | (92,574 | ) | | (1,054,327 | ) | | 328,694 |
| | (922,271 | ) | Total investing cash used in discontinued operations | — |
| | — |
| | — |
| | (132,889 | ) | | — |
| | (132,889 | ) | Net cash used in investing activities | (94,619 | ) | | (9,445 | ) | | (92,574 | ) | | (1,187,216 | ) | | 328,694 |
| | (1,055,160 | ) | Cash flows from financing activities: | |
| | |
| | |
| | |
| | |
| | |
| Borrowings under line of credit | — |
| | — |
| | — |
| | 212,770 |
| | — |
| | 212,770 |
| Borrowings under equipment financing | — |
| | — |
| | — |
| | 233,776 |
| | — |
| | 233,776 |
| Repayments under syndicated loan facilities | — |
| | — |
| | — |
| | (97,403 | ) | | — |
| | (97,403 | ) | Repayments of import financing | — |
| | — |
| | — |
| | (175,923 | ) | | — |
| | (175,923 | ) | Capital contributions | — |
| | — |
| | 318,949 |
| | 9,445 |
| | (328,394 | ) | | — |
| Proceeds from intercompany long-term loan | — |
| | — |
| | 300 |
| | — |
| | (300 | ) | | — |
| Purchases of convertible notes | (212,782 | ) | | — |
| | — |
| | — |
| | — |
| | (212,782 | ) | Intercompany dividends | — |
| | (151,186 | ) | | (100,320 | ) | | (100,000 | ) | | 351,506 |
| | — |
| Other, net | (3,228 | ) | | (778 | ) | | (19,368 | ) | | (101,349 | ) | | — |
| | (124,723 | ) | Total financing cash (used in) provided by continuing operations | (216,010 | ) | | (151,964 | ) | | 199,561 |
| | (18,684 | ) | | 22,812 |
| | (164,285 | ) | Total financing cash used in discontinued operations | — |
| | — |
| | — |
| | (74,010 | ) | | — |
| | (74,010 | ) | Net cash (used in) provided by financing activities | (216,010 | ) | | (151,964 | ) | | 199,561 |
| | (92,694 | ) | | 22,812 |
| | (238,295 | ) | Effect of exchange rate changes on cash and cash equivalents | — |
| | — |
| | — |
| | 844 |
| | — |
| | 844 |
| Change in cash and cash equivalents related to discontinued operations | — |
| | — |
| | — |
| | 22,226 |
| | — |
| | 22,226 |
| Net decrease in cash and cash equivalents | (307,336 | ) | | (956 | ) | | (1,947 | ) | | (606,963 | ) | | — |
| | (917,202 | ) | Cash and cash equivalents, beginning of year | 1,042,358 |
| | 956 |
| | 8,416 |
| | 1,230,425 |
| | — |
| | 2,282,155 |
| Cash and cash equivalents, end of year | $ | 735,022 |
| | $ | — |
| | $ | 6,469 |
| | $ | 623,462 |
| | $ | — |
| | $ | 1,364,953 |
|
|