T-MOBILE US, INC. (TMUS) FY 2016 Financial Statements

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T-MOBILE US, INC.
Ticker: TMUS Fiscal Year: 2016
Consolidated Statements of Comprehensive Income
Period Ending Dec 31, 2016 10-K (Filed: Feb 14, 2017)
(In Millions, except shares in actual)
	12 Months Ended	12 Months Ended	12 Months Ended
	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Revenues
Branded postpaid revenues	$ 18,138	16,383	14,392
Branded prepaid revenues	8,553	7,553	6,986
Wholesale revenues	903	692	731
Roaming and other service revenues	250	193	266
Total service revenues	27,844	24,821	22,375

Equipment revenues	8,727	6,718	6,789
Other revenues	671	514	400
Total revenues	37,242	32,053	29,564

Operating expenses
Cost of services, exclusive of depreciation and amortization shown separately below	5,731	5,554	5,788
Cost of equipment sales	10,819	9,344	9,621
Selling, general and administrative	11,378	10,189	8,863
Depreciation and amortization	6,243	4,688	4,412
Cost of MetroPCS business combination	104	376	299
Gains on disposal of spectrum licenses	(835)	(163)	(840)
Other, net	0	0	5
Total operating expenses	33,440	29,988	28,148

Operating income	3,802	2,065	1,416

Other income (expense)
Interest expense	(1,418)	(1,085)	(1,073)
Interest expense to affiliates	(312)	(411)	(278)
Interest income	261	420	359
Other expense, net	(6)	(11)	(11)
Total other expense, net	(1,475)	(1,087)	(1,003)

Income before income taxes	2,327	978	413

Income tax expense	(867)	(245)	(166)
Net income	1,460	733	247

Dividends on preferred stock	(55)	(55)	0
Net income attributable to common stockholders	1,405	678	247

Net income	1,460	733	247
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on available-for-sale securities, net of tax effect of $1, $(1) and $(1)	2	(2)	(2)
Other comprehensive income (loss)	2	(2)	(2)

Total comprehensive income	1,462	731	245

Earnings per share
Basic (in USD per share)	1.71	0.83	0.31
Diluted (in USD per share)	1.69	0.82	0.30
Weighted average shares outstanding
Basic (in shares)	822,470,275	812,994,028	805,284,712
Diluted (in shares)	833,054,545	822,617,938	815,922,258

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T-MOBILE US, INC.
Ticker: TMUS Fiscal Year: 2016
Consolidated Statements of Cash Flows
Period Ending Dec 31, 2016 10-K (Filed: Feb 14, 2017)
(In Millions, except shares in actual)
	12 Months Ended	12 Months Ended	12 Months Ended
	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Operating activities
Net income	$ 1,460	733	247
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	6,243	4,688	4,412
Stock-based compensation expense	235	201	196
Deferred income tax expense	914	256	122
Bad debt expense	477	547	444
Losses from sales of receivables	228	204	179
Deferred rent expense	121	167	225
Gains on disposal of spectrum licenses	(835)	(163)	(840)
Change in embedded derivatives	(25)	148	(18)
Changes in operating assets and liabilities
Accounts receivable	(603)	(259)	(90)
Equipment installment plan receivables	97	1,089	(2,429)
Inventories	(802)	(2,495)	(499)
Deferred purchase price from sales of receivables	(270)	(185)	(204)
Other current and long-term assets	(133)	(217)	(328)
Accounts payable and accrued liabilities	(1,201)	693	2,395
Other current and long-term liabilities	158	22	312
Other, net	71	(15)	22
Net cash provided by operating activities	6,135	5,414	4,146

Investing activities
Purchases of property and equipment, including capitalized interest of $142, $246 and $64	(4,702)	(4,724)	(4,317)
Purchases of spectrum licenses and other intangible assets, including deposits	(3,968)	(1,935)	(2,900)
Purchases of short-term investments	0	(2,997)	0
Sales of short-term investments	2,998	0	0
Other, net	(8)	96	(29)
Net cash used in investing activities	(5,680)	(9,560)	(7,246)

Financing activities
Proceeds from issuance of long-term debt	997	3,979	2,993
Proceeds from tower obligations	0	140	0
Repayments of capital lease obligations	(205)	(57)	(19)
Repayments of short-term debt for purchases of inventory, property and equipment, net	(150)	(564)	(418)
Repayments of long-term debt	(20)	0	(1,000)
Proceeds from exercise of stock options	29	47	27
Proceeds from issuance of preferred stock	0	0	982
Tax withholdings on share-based awards	(121)	(156)	(73)
Dividends on preferred stock	(55)	(55)	0
Other, net	(12)	79	32
Net cash provided by financing activities	463	3,413	2,524

Change in cash and cash equivalents	918	(733)	(576)

Cash and cash equivalents
Beginning of period	4,582	5,315
End of period	5,500	4,582	5,315

Supplemental disclosure of cash flow information
Interest payments, net of amounts capitalized	1,681	1,298	1,367
Income tax payments	25	54	36
Changes in accounts payable for purchases of property and equipment	285	46	402
Leased devices transferred from inventory to property and equipment	1,588	2,451	0
Returned leased devices transferred from property and equipment to inventory	(602)	(166)	0
Issuance of short-term debt for financing of property and equipment	150	500	256
Assets acquired under capital lease obligations	799	470	77

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T-MOBILE US, INC.
Ticker: TMUS Fiscal Year: 2016
Consolidated Balance Sheets
Period Ending Dec 31, 2016 10-K (Filed: Feb 14, 2017)
(In Millions, except shares in actual)
	As of	As of
	Dec 31, 2016	Dec 31, 2015
Assets
Current assets
Cash and cash equivalents	$ 5,500	4,582
Short-term investments	0	2,998
Accounts receivable, net of allowances of $102 and $116	1,896	1,788
Equipment installment plan receivables, net	1,930	2,378
Accounts receivable from affiliates	40	36
Inventories	1,111	1,295
Asset purchase deposit	2,203	0
Other current assets	1,537	1,813
Total current assets	14,217	14,890

Property and equipment, net	20,943	20,000
Goodwill	1,683	1,683
Spectrum licenses	27,014	23,955
Other intangible assets, net	376	594
Equipment installment plan receivables due after one year, net	984	847
Other assets	674	444
Total assets	65,891	62,413

Liabilities and Stockholders' Equity
Current liabilities
Accounts payable and accrued liabilities	7,152	8,084
Payables to affiliates	125	135
Short-term debt	354	182
Deferred revenue	986	717
Other current liabilities	405	410
Total current liabilities	9,022	9,528

Long-term debt	21,832	20,461
Long-term debt to affiliates	5,600	5,600
Tower obligations	2,621	2,658
Deferred tax liabilities	4,938	4,061
Deferred rent expense	2,616	2,481
Other long-term liabilities	1,026	1,067
Total long-term liabilities	38,633	36,328

Commitments and contingencies (Note 12)
Stockholders' equity
5.50% Mandatory Convertible Preferred Stock Series A, par value $0.00001 per share, 100,000,000 shares authorized; 20,000,000 and 20,000,000 shares issued and outstanding; $1,000 and $1,000 aggregate liquidation value	0	0
Common Stock, par value $0.00001 per share, 1,000,000,000 shares authorized; 827,768,818 and 819,773,724 shares issued, 826,357,331 and 818,391,219 shares outstanding	0	0
Additional paid-in capital	38,846	38,666
Treasury stock, at cost, 1,411,487 and 1,382,505 shares issued	(1)	0
Accumulated other comprehensive income (loss)	1	(1)
Accumulated deficit	(20,610)	(22,108)
Total stockholders' equity	18,236	16,557

Total liabilities and stockholders' equity	65,891	62,413

External Links
T-MOBILE US, INC. (TMUS) Fiscal Year 2016
Statements of 10-K in Excel	https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML	https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL	https://www.sec.gov/.../10-K-xbrl.zip

T-MOBILE US, INC.

Ticker: TMUS Fiscal Year: 2016

Consolidated Statements of Comprehensive Income

Period Ending Dec 31, 2016 10-K (Filed: Feb 14, 2017)

T-MOBILE US, INC.

Ticker: TMUS Fiscal Year: 2016

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2016 10-K (Filed: Feb 14, 2017)

T-MOBILE US, INC.

Ticker: TMUS Fiscal Year: 2016

Consolidated Balance Sheets

Period Ending Dec 31, 2016 10-K (Filed: Feb 14, 2017)