Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2018 | Jan. 30, 2019 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | S | |
Entity Registrant Name | SPRINT CORP | |
Entity Central Index Key | 101,830 | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 4,079,316,764 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Current Assets | ||
Cash and Cash Equivalents | $ 6,191 | $ 6,610 |
Short-term Investments | 632 | 2,354 |
Accounts and notes receivable, net | 3,455 | 3,711 |
Device and accessory inventory | 919 | 1,003 |
Prepaid expenses and other current assets | 1,199 | 575 |
Total current assets | 12,396 | 14,253 |
Property, plant and equipment, net | 21,422 | 19,925 |
Costs to acquire a customer contract | 1,497 | |
Intangible assets | ||
Goodwill | 6,598 | 6,586 |
FCC licenses and other | 41,448 | 41,309 |
Definite-lived intangible assets, net | 1,915 | 2,465 |
Other assets | 1,128 | 921 |
Total assets | 86,404 | 85,459 |
Current Liabilities | ||
Accounts payable | 3,637 | 3,409 |
Accrued expenses and other current liabilities | 3,467 | 3,962 |
Current portion of long-term debt, financing and capital lease obligations | 3,596 | 3,429 |
Total current liabilities | 10,700 | 10,800 |
Long-term debt, financing and capital lease obligations | 36,288 | 37,463 |
Deferred tax liabilities | 7,684 | 7,294 |
Other liabilities | 3,403 | 3,483 |
Total liabilities | 58,075 | 59,040 |
Commitments and contingencies | ||
Shareholders' Equity | ||
Common stock, voting, par value $0.01 per share, 9.0 billion authorized, 4.013 billion and 4.005 billion issued, respectively | 41 | 40 |
Paid-in capital | 28,278 | 27,884 |
Treasury shares, at cost | 7 | 0 |
Accumulated deficit | 291 | (1,255) |
Accumulated other comprehensive loss | (333) | (313) |
Total stockholders' equity | 28,270 | 26,356 |
Stockholders' Equity Attributable to Noncontrolling Interest | 59 | 63 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 28,329 | 26,419 |
Liabilities and Equity | $ 86,404 | $ 85,459 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Allowance for Doubtful Accounts Receivable, Current | $ 334 | $ 409 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common shares, shares authorized | 9,000,000,000 | 9,000,000,000 |
Common Stock, Shares, Issued | 4,079,000,000 | 4,005,000,000 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands, shares in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue, Net [Abstract] | ||||
Service revenue | $ 8,601,000 | $ 25,159,000 | ||
Revenue, equipment sales, net | 1,589,000 | $ 1,262,000 | 4,180,000 | $ 3,443,000 |
Revenue, equipment rentals, net | 1,313,000 | 1,047,000 | 3,778,000 | 2,912,000 |
Net operating revenues | 8,601,000 | 8,239,000 | 25,159,000 | 24,323,000 |
Net operating expenses | ||||
Cost of Services (exclusive of depreciation and amortization included below) | 1,648,000 | 1,733,000 | 5,019,000 | 5,140,000 |
Cost of equipment sales | 1,734,000 | 1,673,000 | 4,521,000 | 4,622,000 |
Cost of equipment rentals | 182,000 | 123,000 | 457,000 | 347,000 |
Selling, general and administrative | 2,003,000 | 2,108,000 | 5,731,000 | 6,059,000 |
Severance and exit costs | (30,000) | (63,000) | (13,000) | |
Depreciation, network and other | 1,088,000 | 987,000 | 3,132,000 | 2,961,000 |
Depreciation, equipment rentals | 1,137,000 | 990,000 | 3,454,000 | 2,732,000 |
Amortization | 145,000 | 196,000 | 475,000 | 628,000 |
Other, net | 185,000 | (298,000) | 298,000 | (657,000) |
Total costs and expenses | 8,122,000 | 7,512,000 | 23,087,000 | 21,832,000 |
Operating Income | 479,000 | 727,000 | 2,072,000 | 2,491,000 |
Other (expense) income | ||||
Interest Expense | (664,000) | (581,000) | (1,934,000) | (1,789,000) |
Other income, net | 32,000 | (42,000) | 153,000 | (50,000) |
Nonoperating Expense | (632,000) | (623,000) | (1,781,000) | (1,839,000) |
Loss (income) before income taxes | (153,000) | 104,000 | 291,000 | 652,000 |
Income tax benefit | 8,000 | 7,052,000 | (56,000) | 6,662,000 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (145,000) | 7,156,000 | 235,000 | 7,314,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 4,000 | 6,000 | (4,000) | 6,000 |
Net Income (Loss) Attributable to Parent | $ (141,000) | $ 7,162,000 | $ 231,000 | $ 7,320,000 |
Basic net (loss) income per common share | $ (0.03) | $ 1.79 | $ 0.06 | $ 1.83 |
Diluted net (loss) income per common share | $ (0.03) | $ 1.76 | $ 0.06 | $ 1.79 |
Basic weighted average common shares outstanding | 4,078 | 4,001 | 4,050 | 3,998 |
Diluted weighted average common shares outstanding | 4,078 | 4,061 | 4,110 | 4,080 |
Other comprehensive (loss) income, net of tax: | ||||
Net unrealized holding gains on securities and other | $ (2,000) | $ 7,000 | $ (9,000) | $ 25,000 |
Net unrealized holding gains (losses) on derivatives | (25,000) | 19,000 | (8,000) | 12,000 |
Net unrecognized net periodic pension and other postretirement benefits | 2,000 | 0 | 5,000 | 1,000 |
Cumulative Effect of New Accounting Pronouncement | 0 | (8,000) | ||
Other comprehensive income | (25,000) | 26,000 | (20,000) | 38,000 |
Comprehensive (loss) income | (170,000) | 7,182,000 | 215,000 | 7,352,000 |
Services [Member] | ||||
Revenue, Net [Abstract] | ||||
Service revenue | $ 5,699,000 | $ 5,930,000 | $ 17,201,000 | $ 17,968,000 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Cash Flows [Abstract] | ||
Proceeds from Life Insurance Policy | $ 110 | $ 2 |
Cash flows from operating activities | ||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 235 | 7,314 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
Depreciation and amortization | 7,061 | 6,321 |
Bad debt expense | 278 | 312 |
Share-based and long-term incentive compensation expense | 101 | 137 |
Deferred income tax benefit | 25 | (6,707) |
Gains from asset dispositions and exchanges | 0 | 479 |
Call premiums paid on debt redemptions | 0 | (129) |
Loss on early extinguishment of debt | 0 | 65 |
Amortization and accretion of long-term debt premiums and discounts | (94) | (125) |
Loss on Disposition of Property Plant Equipment | 642 | 533 |
Other changes in assets and liabilities: | ||
Accounts and notes receivable | 65 | (74) |
Deferred purchase price from sale of receivables | (223) | (909) |
Inventories and other current assets | 248 | 570 |
Accounts payable and other current liabilities | (530) | (104) |
Non-current assets and liabilities, net | (601) | 260 |
Other, net | 375 | 295 |
Net cash provided by operating activities | 7,582 | 7,409 |
Cash flows from investing activities | ||
Capital expenditures - network and other | (3,814) | (2,539) |
Capital expenditures - leased devices | (5,739) | (5,533) |
Expenditures relating to FCC licenses | (145) | (92) |
Proceeds from sales and maturities of short-term investments | 6,619 | 7,113 |
Purchases of short-term investments | (5,152) | (1,842) |
Proceeds from sales of assets and FCC Licenses | 416 | 367 |
Proceeds from Sale and Collection of Receivables | 223 | 909 |
Other, net | 52 | (1) |
Net Cash Used in Investing Activities | (7,430) | (1,616) |
Cash flows from financing activities | ||
Proceeds from debt and financings | 6,416 | 3,073 |
Repayments of debt and capital lease obligations | (6,937) | (7,159) |
Debt financing costs | 286 | 19 |
Proceeds from issuance of common stock, net | 281 | 12 |
Other, net | 0 | (18) |
Net cash provided by (used in) financing activities | (526) | (4,240) |
Cash, Cash Equivalents, Restricted Cash, Restricted Cash Equivalents, Period Increase (Decrease) | (374) | 1,553 |
Cash and cash equivalents, end of period | 6,191 | 4,495 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 6,285 | $ 4,495 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions | Total | Common Stock [Member] | Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Noncontrolling Interest [Member] |
Total stockholders' equity | $ 0 | ||||||
Net Income (Loss) Attributable to Parent | $ 206 | ||||||
Balance (in shares) at Mar. 31, 2017 | 3,989 | ||||||
Beginning Balance at Mar. 31, 2017 | $ 18,808 | $ 40 | $ 27,756 | (8,584) | $ (404) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 206 | ||||||
Other Comprehensive Income, Other, Net of Tax | (4) | ||||||
Stock Issued During Period, Shares, New Issues | 7 | ||||||
Stock Issued During Period, Value, New Issues | 9 | 9 | |||||
Share-based compensation expense | 40 | 40 | |||||
Capital contribution by SoftBank | 2 | 2 | |||||
Other, net | (46) | (46) | |||||
Balance (in shares) at Jun. 30, 2017 | 3,996 | 0 | |||||
Ending Balance at Jun. 30, 2017 | 19,015 | $ 40 | 27,761 | (8,378) | (408) | $ 0 | |
Net Income (Loss) Attributable to Parent | 7,320 | ||||||
Balance (in shares) at Mar. 31, 2017 | 3,989 | ||||||
Beginning Balance at Mar. 31, 2017 | 18,808 | $ 40 | 27,756 | (8,584) | (404) | ||
Balance (in shares) at Dec. 31, 2017 | 4,002 | 0 | |||||
Ending Balance at Dec. 31, 2017 | 26,305 | $ 40 | 27,825 | (1,264) | (366) | 70 | |
Total stockholders' equity | $ 0 | ||||||
Net Income (Loss) Attributable to Parent | (48) | ||||||
Balance (in shares) at Jun. 30, 2017 | 3,996 | 0 | |||||
Beginning Balance at Jun. 30, 2017 | 19,015 | $ 40 | 27,761 | (8,378) | (408) | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | (48) | ||||||
Other Comprehensive Income, Other, Net of Tax | 16 | ||||||
Stock Issued During Period, Shares, New Issues | 4 | ||||||
Stock Issued During Period, Value, New Issues | (8) | 1 | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 1 | ||||||
Stock Issued During Period, Value, Treasury Stock Reissued | $ (9) | ||||||
Share-based compensation expense | 47 | 47 | |||||
Capital contribution by SoftBank | 3 | 3 | |||||
Other, net | (5) | (5) | |||||
Balance (in shares) at Sep. 30, 2017 | 4,000 | 1 | |||||
Ending Balance at Sep. 30, 2017 | 19,020 | $ 40 | 27,807 | (8,426) | (392) | 0 | |
Total stockholders' equity | $ (9) | ||||||
Net Income (Loss) Attributable to Parent | 7,162 | 7,162 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 7,156 | (6) | |||||
Other Comprehensive Income, Other, Net of Tax | 26 | ||||||
Stock Issued During Period, Shares, New Issues | 2 | ||||||
Stock Issued During Period, Value, New Issues | 11 | 2 | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued | (1) | ||||||
Stock Issued During Period, Value, Treasury Stock Reissued | $ 9 | ||||||
Share-based compensation expense | 50 | 50 | |||||
Other, net | (6) | (6) | |||||
Increase (decrease) attributable to noncontrolling interests | 48 | (28) | 76 | ||||
Balance (in shares) at Dec. 31, 2017 | 4,002 | 0 | |||||
Ending Balance at Dec. 31, 2017 | 26,305 | $ 40 | 27,825 | (1,264) | (366) | 70 | |
Total stockholders' equity | $ 0 | ||||||
Total stockholders' equity | 26,356 | $ 0 | |||||
Net Income (Loss) Attributable to Parent | 176 | ||||||
Balance (in shares) at Mar. 31, 2018 | 4,005 | ||||||
Beginning Balance at Mar. 31, 2018 | 26,419 | $ 40 | 27,884 | (1,255) | (313) | 63 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 173 | (3) | |||||
Other Comprehensive Income, Other, Net of Tax | 4 | ||||||
Stock Issued During Period, Shares, New Issues | 8 | ||||||
Stock Issued During Period, Value, New Issues | (2) | 2 | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 1 | ||||||
Stock Issued During Period, Value, Treasury Stock Reissued | $ (4) | ||||||
Share-based compensation expense | 40 | 40 | |||||
Capital contribution by SoftBank | 1 | 1 | |||||
Cumulative effect of accounting changes | 1,307 | 1,315 | (8) | ||||
Other, net | 3 | 3 | |||||
Increase (decrease) attributable to noncontrolling interests | 0 | 8 | (8) | ||||
Balance (in shares) at Jun. 30, 2018 | 4,013 | 1 | |||||
Ending Balance at Jun. 30, 2018 | 27,945 | $ 40 | 27,938 | 236 | (317) | 52 | |
Net Income (Loss) Attributable to Parent | 231 | ||||||
Balance (in shares) at Mar. 31, 2018 | 4,005 | ||||||
Beginning Balance at Mar. 31, 2018 | 26,419 | $ 40 | 27,884 | (1,255) | (313) | 63 | |
Balance (in shares) at Dec. 31, 2018 | 4,079 | 1 | |||||
Ending Balance at Dec. 31, 2018 | 28,329 | $ 41 | 28,278 | 291 | (333) | 59 | |
Total stockholders' equity | $ (4) | ||||||
Net Income (Loss) Attributable to Parent | 196 | ||||||
Balance (in shares) at Jun. 30, 2018 | 4,013 | 1 | |||||
Beginning Balance at Jun. 30, 2018 | 27,945 | $ 40 | 27,938 | 236 | (317) | 52 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | 207 | 11 | |||||
Other Comprehensive Income, Other, Net of Tax | 9 | ||||||
Stock Issued During Period, Shares, New Issues | 66 | ||||||
Stock Issued During Period, Value, New Issues | 278 | $ 1 | 288 | ||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 1 | ||||||
Stock Issued During Period, Value, Treasury Stock Reissued | $ (11) | ||||||
Share-based compensation expense | 27 | 27 | |||||
Capital contribution by SoftBank | 1 | 1 | |||||
Cumulative effect of accounting changes | |||||||
Other, net | (3) | (3) | |||||
Balance (in shares) at Sep. 30, 2018 | 4,079 | 2 | |||||
Ending Balance at Sep. 30, 2018 | 28,464 | $ 41 | 28,251 | 432 | (308) | 63 | |
Total stockholders' equity | $ (15) | ||||||
Net Income (Loss) Attributable to Parent | (141) | (141) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income (loss) | (145) | (4) | |||||
Other Comprehensive Income, Other, Net of Tax | (25) | ||||||
Stock Issued During Period, Value, New Issues | 5 | (3) | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued | (1) | ||||||
Stock Issued During Period, Value, Treasury Stock Reissued | $ 8 | ||||||
Share-based compensation expense | 34 | 34 | |||||
Other, net | (4) | (4) | |||||
Balance (in shares) at Dec. 31, 2018 | 4,079 | 1 | |||||
Ending Balance at Dec. 31, 2018 | 28,329 | $ 41 | $ 28,278 | $ 291 | $ (333) | $ 59 | |
Total stockholders' equity | $ 28,270 | $ (7) |
Basis of Presentation and Other
Basis of Presentation and Other Information | 9 Months Ended |
Dec. 31, 2018 | |
Nature of Operations [Abstract] | |
Basis of Presentation and Other Information | Basis of Presentation and Other Information Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X for interim financial information. All normal recurring adjustments considered necessary for a fair presentation have been included. Certain disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) have been omitted. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes contained in our Annual report on Form 10-K for the year ended March 31, 2018 . Unless the context otherwise requires, references to "Sprint," "we," "us," "our" and the "Company" mean Sprint Corporation and its consolidated subsidiaries for all periods presented, and references to "Sprint Communications" are to Sprint Communications, Inc. and its consolidated subsidiaries. The preparation of the unaudited interim consolidated financial statements requires management of the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities at the date of the unaudited interim consolidated financial statements. These estimates are inherently subject to judgment and actual results could differ. The consolidated financial statements include our accounts, those of our 100% owned subsidiaries, and subsidiaries we control or in which we have a controlling financial interest. For controlled subsidiaries that are not wholly-owned, the noncontrolling interests are included in "Net (loss) income" and "Total equity." All intercompany transactions and balances have been eliminated in consolidation. Reclassification of Prior Period Amounts Certain prior period amounts have been reclassified to conform to the current period presentation. As a result of the growing significance of our leasing program, in fiscal year 2017 we disaggregated equipment revenue between device sales and device operating lease revenue in our consolidated statements of comprehensive (loss) income. Revenue derived from device sales is now being reported in a new caption called "Equipment sales," and revenue derived from device operating leases is now being reported in a new caption called "Equipment rentals." For the three- and nine-month periods ended December 31, 2017 , we have disaggregated revenues of $1.0 billion and $2.9 billion , respectively, from equipment revenue to "Equipment rentals." To align with the changes made to our revenue presentation, we have added two new captions within the consolidated statements of comprehensive (loss) income to capture certain costs directly attributable to our leasing activities consisting of "Cost of equipment rentals (exclusive of depreciation)" and "Depreciation - equipment rentals." For the three- and nine-month periods ended December 31, 2017 , we have reclassed $123 million and $347 million , respectively, of loss on disposal of property, plant and equipment, net of recoveries resulting from the write-off of leased devices from "Other, net" to a new caption called "Cost of equipment rentals (exclusive of depreciation)." Additionally, we disaggregated total depreciation between network and other versus depreciation related to equipment rentals. Network and other depreciation is now being reported in a new caption called "Depreciation - network and other," and depreciation derived from equipment rentals is now being reported in a new caption called "Depreciation - equipment rentals." For the three- and nine-month periods ended December 31, 2017 , we have disaggregated depreciation of $990 million and $2.7 billion , respectively, from depreciation to "Depreciation - equipment rentals." Total net operating revenues, net operating expenses, net (loss) income, and basic and diluted earnings per share were not affected by these reclassifications. On January 1, 2018, the Company adopted authoritative guidance regarding Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments. The Company adopted this standard with retrospective application to the consolidated statements of cash flows. The standard impacted the presentation of cash flows related to beneficial interests in securitization transactions, which is the deferred purchase price associated with our accounts receivable facility, resulting in reclassification of cash inflows from operating activities to investing activities of $909 million for the nine-month period ended December 31, 2017 in our consolidated statements of cash flows. The standard also impacted the presentation of cash flows related to separately identifiable cash flows and application of the predominance principal primarily related to direct channel leased devices resulting in a material reclassification of cash outflows from operating activities to investing activities of $3.8 billion for the nine-month period ended December 31, 2017 in our consolidated statements of cash flows. In addition, the standard also impacted the presentation of cash flows related to debt prepayment or debt extinguishment costs and resulted in a reclassification of cash outflows from operating activities to financing activities of $129 million for the nine-month period ended December 31, 2017 in our consolidated statements of cash flows. Proceeds from the settlement of corporate-owned life insurance policies resulted in a $2 million reclassification between operating and investing activities in our consolidated statements of cash flows for the nine-month period ended December 31, 2017 . On January 1, 2018, the Company adopted authoritative guidance regarding Statement of Cash Flows: Restricted Cash, requiring that amounts generally described as restricted cash or restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company adopted this standard with retrospective application to the consolidated statements of cash flows. The adoption of this standard resulted in an increase of $72 million in the beginning balance of cash, cash equivalents and restricted cash on April 1, 2017 and $55 million to the ending balance of cash, cash equivalents and restricted cash as of December 31, 2017. Business Combination Agreement On April 29, 2018, we announced that we entered into a Business Combination Agreement with T-Mobile US (T-Mobile) to merge in an all-stock transaction for a fixed exchange ratio of 0.10256 of T-Mobile shares for each Sprint share, or the equivalent of 9.75 Sprint shares for each T-Mobile share . Immediately following the transactions, Deutsche Telekom AG and SoftBank Group Corp. are expected to hold approximately 42% and 27% of fully-diluted shares of the combined company, respectively, with the remaining 31% of the fully-diluted shares of the combined company held by public stockholders. The Board will consist of 14 directors, of which nine will be nominated by Deutsche Telekom AG, four will be nominated by SoftBank Group Corp, and the final director will be the CEO of the combined company. The combined company will be named T-Mobile. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of calendar year 2019. Sprint and T-Mobile completed the Hart-Scott-Rodino filing with the Department of Justice on May 24, 2018. On June 18, 2018, the parties filed with the FCC the merger applications, including the Public Interest Statement. On July 18, 2018, the FCC accepted the applications for filing and established a public comment period for the transaction. The formal comment period concluded on October 31, 2018. The transaction received clearance from the Committee on Foreign Investment in the United States on December 17, 2018 and is awaiting further regulatory approvals. |
New Accounting Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements Accounting Pronouncements Adopted During the Current Year In May 2014, the Financial Accounting Standards Board (FASB) issued new authoritative literature, Revenue from Contracts with Customers (Topic 606) . This standard update, along with related subsequently issued updates, clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP. The new standard supersedes much of the existing authoritative literature for revenue recognition (Topic 605). The standard update also amends current guidance for the recognition of costs to obtain and fulfill contracts with customers such that incremental costs of obtaining and direct costs of fulfilling contracts with customers will be deferred and amortized consistent with the transfer of the related good or service. Upon adoption, the Company applied the standard only to contracts that were not completed, referred to as open contracts. The Company adopted this standard update beginning on April 1, 2018 using the modified retrospective method. This method requires that the cumulative effect of initially applying the standard be recognized at the date of application beginning April 1, 2018. We recorded a pre-tax cumulative effect of $1.7 billion ( $1.3 billion , net of tax) as a reduction to the April 1, 2018 opening balance of accumulated deficit. Results for reporting periods beginning after April 1, 2018 are presented under Topic 606, while amounts reported for prior periods have not been adjusted and continue to be reported under accounting standards in effect for those periods. See Note 8. Revenues from Contracts with Customers for additional information related to revenues and contract costs, including qualitative and quantitative disclosures required under Topic 606. In January 2016, the FASB issued authoritative guidance regarding Financial Instruments , which amended guidance on the classification and measurement of financial instruments. Under the new guidance, entities will be required to measure equity investments that are not consolidated or accounted for under the equity method at fair value with any changes in fair value recorded in net (loss) income, unless the entity has elected the new practicability exception. For financial liabilities measured using the fair value option, entities will be required to separately present in other comprehensive (loss) income the portion of the changes in fair value attributable to instrument-specific credit risk. Additionally, the guidance amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard update beginning on April 1, 2018 on a retrospective basis resulting in a pre-tax cumulative effect of $12 million ( $8 million , net of tax) to our opening balance of accumulated deficit. In October 2016, the FASB issued authoritative guidance regarding Income Taxes , which amended guidance for the income tax consequences of intra-entity transfers of assets other than inventory. Under the new guidance, entities will be required to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, thereby eliminating the recognition exception within current guidance. The Company adopted this standard on April 1, 2018 on a modified retrospective basis with no impact to our consolidated financial statements. In January 2017, the FASB issued authoritative guidance amending Business Combinations: Clarifying the Definition of a Business , to clarify the definition of a business with the objective of providing a more robust framework to assist management when evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The Company adopted this standard on April 1, 2018 with prospective application to future business combinations. In January 2017, the FASB issued authoritative guidance regarding Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment , which simplifies the goodwill impairment test by eliminating the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (Step 2 of the test), but rather to record an impairment charge based on the excess of the carrying value over its fair value. The Company adopted this standard on April 1, 2018 with no impact to our consolidated financial statements at the date of adoption. The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 606 and other ASUs effective for the Company on April 1, 2018 were as follows: Adjustments due to March 31, 2018 Topic 606 Other ASUs April 1, 2018 (in millions) ASSETS Current assets: Accounts and notes receivable, net $ 3,711 $ 97 $ — $ 3,808 Device and accessory inventory 1,003 (24 ) — 979 Prepaid expenses and other current assets 575 271 — 846 Costs to acquire a customer contract — 1,219 — 1,219 Other assets 921 43 — 964 LIABILITIES AND EQUITY Current liabilities: Accrued expenses and other current liabilities $ 3,962 $ (35 ) $ — $ 3,927 Deferred tax liabilities 7,294 366 — 7,660 Other liabilities 3,483 (32 ) — 3,451 Stockholders' equity: (Accumulated deficit) retained earnings (1,255 ) 1,307 8 60 Accumulated other comprehensive loss (313 ) — (8 ) (321 ) The most significant impact upon adoption of Topic 606 on April 1, 2018 was the recognition of a deferred contract cost asset of $1.2 billion , which was recorded in "Costs to acquire a customer contract" in our consolidated balance sheets for incremental contract acquisition costs paid on open contracts at the date of adoption. We are capitalizing and subsequently amortizing commission costs, which were previously expensed, related to new service contracts over the expected customer relationship period, while costs associated with contract renewals are amortized over the anticipated length of the service contract. We expect that operating expenses will be lower in the current fiscal year compared to amounts recorded under Topic 605 due to higher deferrals of such costs compared to the amortization of prior period commission costs deferred only for open contracts at the date of adoption as permitted by Topic 606. A reconciliation of the adjustments from the adoption of Topic 606 relative to Topic 605 on our consolidated statements of comprehensive (loss) income and balance sheet is as follows: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 As reported Balances without adoption of Topic 606 Change As reported Balances without adoption of Change (in millions, except per share amounts) (in millions, except per share amounts) Net operating revenues: Service $ 5,699 $ 5,898 $ (199 ) $ 17,201 $ 17,716 $ (515 ) Equipment sales 1,589 1,264 325 4,180 3,223 957 Equipment rentals 1,313 1,329 (16 ) 3,778 3,827 (49 ) 8,601 8,491 110 25,159 24,766 393 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) 1,648 1,671 (23 ) 5,019 5,073 (54 ) Cost of equipment sales 1,734 1,715 19 4,521 4,431 90 Cost of equipment rentals (exclusive of depreciation below) 182 182 — 457 457 — Selling, general and administrative 2,003 2,145 (142 ) 5,731 6,047 (316 ) Depreciation - network and other 1,088 1,088 — 3,132 3,132 — Depreciation - equipment rentals 1,137 1,137 — 3,454 3,454 — Amortization 145 145 — 475 475 — Other, net 185 185 — 298 298 — 8,122 8,268 (146 ) 23,087 23,367 (280 ) Operating income 479 223 256 2,072 1,399 673 Total other expense (632 ) (632 ) — (1,781 ) (1,781 ) — (Loss) income before income taxes (153 ) (409 ) 256 291 (382 ) 673 Income tax benefit (expense) 8 62 (54 ) (56 ) 85 (141 ) Net (loss) income (145 ) (347 ) 202 235 (297 ) 532 Less: Net loss (income) attributable to noncontrolling interests 4 4 — (4 ) (4 ) — Net (loss) income attributable to Sprint $ (141 ) $ (343 ) $ 202 $ 231 $ (301 ) $ 532 Basic net (loss) income per common share attributable to Sprint $ (0.03 ) $ (0.08 ) $ 0.05 $ 0.06 $ (0.07 ) $ 0.13 Diluted net (loss) income per common share attributable to Sprint $ (0.03 ) $ (0.08 ) $ 0.05 $ 0.06 $ (0.07 ) $ 0.13 Basic weighted average common shares outstanding 4,078 4,078 — 4,050 4,050 — Diluted weighted average common shares outstanding 4,078 4,078 — 4,110 4,050 60 December 31, 2018 As reported Balances without adoption of Topic 606 Change (in millions) ASSETS Current assets: Accounts and notes receivable, net $ 3,455 $ 3,356 $ 99 Device and accessory inventory 919 941 (22 ) Prepaid expenses and other current assets 1,199 672 527 Costs to acquire a customer contract 1,497 — 1,497 Other assets 1,128 939 189 LIABILITIES AND EQUITY Current liabilities: Accrued expenses and other current liabilities $ 3,467 $ 3,489 $ (22 ) Deferred tax liabilities 7,684 7,177 507 Other liabilities 3,403 3,437 (34 ) Stockholders' equity: Retained earnings (accumulated deficit) 291 (1,548 ) 1,839 The most significant impacts to our financial statement results as reported under Topic 606 as compared to Topic 605 for the current reporting period are as follows: • Consideration paid to customers or on behalf of customers is included as a reduction of the total transaction price of customer contracts, resulting in a contract asset that is amortized to service revenue over the term of the contract. As a result, the income statement impact reflects an increase in equipment sales offset by a reduction in wireless service revenue. Under the previous standard, this consideration paid to customers or on behalf of customers was recognized as a reduction to revenue or as selling, general and administrative expense. • Costs to acquire a customer contract or for a contract renewal are now capitalized and amortized to selling, general and administrative expenses over the expected customer relationship period or length of the service contract, respectively. Under the previous standard, these commission costs were expensed as incurred. • Deferred tax liabilities were increased for temporary differences established upon adoption of Topic 606, primarily attributable to costs to acquire a customer contract. For income tax purposes, these commission costs will continue to be expensed as incurred. Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued authoritative guidance regarding Leases , and has subsequently modified several areas of the standard in order to provide additional clarity and improvements . The new standard will supersede much of the existing authoritative literature for leases. This guidance requires lessees, among other things, to recognize right-of-use assets and liabilities on their balance sheet for all leases with lease terms longer than twelve months. In July 2018, the FASB made targeted improvements to the standard, including providing an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. The standard will be effective for the Company for its fiscal year beginning April 1, 2019, including interim periods within that fiscal year, with early adoption permitted. The Company is currently evaluating the guidance and assessing its overall impact. However, we expect the adoption of this guidance to have a material impact on our consolidated balance sheets and we are implementing significant new processes and internal controls over lease recognition, which will ultimately assist in the application of the new lease standard. In June 2016 and November 2018, the FASB issued authoritative guidance regarding Financial Instruments - Credit Losses , which requires entities to use a Current Expected Credit Loss impairment model based on expected losses rather than incurred losses. Under this model, an entity would recognize an impairment allowance equal to its current estimate of all contractual cash flows that the entity does not expect to collect from financial assets measured at amortized cost within the scope of the standard. The entity's estimate would consider relevant information about past events, current conditions and reasonable and supportable forecasts, which will result in recognition of lifetime expected credit losses. The standard will be effective for the Company's fiscal year beginning April 1, 2020, including interim reporting periods within that fiscal year, although early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In June 2018, the FASB issued authoritative guidance regarding Compensation - Stock Compensation , which expands the scope of ASC Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The standard will be effective for the Company for its fiscal year beginning April 1, 2019, including interim periods within that fiscal year, with early adoption permitted. The Company is currently evaluating the guidance and assessing its overall impact. However, we do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In August 2018, the FASB issued authoritative guidance regarding Fair Value Measurement: Disclosure Framework , which eliminates, adds and modifies certain disclosure requirements for fair value measurements. The standard will be effective for the Company for its fiscal year beginning April 1, 2020, including interim periods within that fiscal year, with early adoption permitted. The Company is currently evaluating the guidance and assessing its overall impact. However, we do not expect the adoption of this guidance to have a material impact on our consolidated financial statements. In August 2018, the FASB issued authoritative guidance regarding Intangibles - Goodwill and Other - Internal-Use Software , which aligns the requirements for a customer to capitalize implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard will be effective for the Company for its fiscal year beginning April 1, 2020, including interim periods within that fiscal year, with early adoption permitted. The Company is currently evaluating the guidance and assessing its overall impact. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | Financial Instruments The Company carries certain assets and liabilities at fair value. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs based on the observability as of the measurement date, is as follows: quoted prices in active markets for identical assets or liabilities; observable inputs other than the quoted prices in active markets for identical assets and liabilities; and unobservable inputs for which there is little or no market data, which require the Company to develop assumptions of what market participants would use in pricing the asset or liability. The carrying amount of cash equivalents, accounts and notes receivable, and accounts payable approximates fair value. Short-term investments are recorded at amortized cost and the respective carrying amounts approximate the fair value that would be determined primarily using quoted prices in active markets. As of December 31, 2018 , short-term investments totaled $632 million and consisted of $251 million of time deposits and $381 million of commercial paper. As of March 31, 2018 , short-term investments totaled $2.4 billion and consisted of approximately $1.6 billion of time deposits and $765 million of commercial paper. The fair value of marketable equity securities totaling $2 million and $57 million as of December 31, 2018 and March 31, 2018 , respectively, are measured on a recurring basis using quoted prices in active markets. Current and long-term debt inclusive of our other financings are carried at amortized cost. Debt for which estimated fair value is determined based on unobservable inputs primarily represents borrowings under our secured equipment credit facilities, and sales of receivables under our Accounts Receivable Facility (Receivables Facility). See Note 7. Long-Term Debt, Financing and Capital Lease Obligations for additional information. The carrying amounts associated with these borrowings approximate fair value. The estimated fair value of the majority of our current and long-term debt, excluding our secured equipment credit facilities, and sold wireless service, installment billing and future receivables is determined based on quoted prices in active markets or by using other observable inputs that are derived principally from, or corroborated by, observable market data. The following table presents carrying amounts and estimated fair values of current and long-term debt and financing obligations: Carrying amount at December 31, 2018 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt and financing obligations $ 40,125 $ 35,756 $ — $ 4,570 $ 40,326 Carrying amount at March 31, 2018 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt and financing obligations $ 40,820 $ 37,549 $ — $ 3,737 $ 41,286 |
Installment Receivables
Installment Receivables | 9 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Installment Receivables | Installment Receivables Certain subscribers have the option to pay for their devices in installments, generally up to a 24 -month period. Short-term installment receivables are recorded in "Accounts and notes receivable, net" and long-term installment receivables are recorded in "Other assets" in the consolidated balance sheets. The following table summarizes the installment receivables: December 31, March 31, (in millions) Installment receivables, gross $ 1,151 $ 1,472 Deferred interest (62 ) (106 ) Installment receivables, net of deferred interest 1,089 1,366 Allowance for credit losses (195 ) (217 ) Installment receivables, net $ 894 $ 1,149 Classified in the consolidated balance sheets as: Accounts and notes receivable, net $ 675 $ 995 Other assets 219 154 Installment receivables, net $ 894 $ 1,149 The balance and aging of installment receivables on a gross basis by credit category were as follows: December 31, 2018 March 31, 2018 Prime Subprime Total Prime Subprime Total (in millions) (in millions) Unbilled $ 661 $ 396 $ 1,057 $ 951 $ 391 $ 1,342 Billed - current 48 23 71 69 29 98 Billed - past due 12 11 23 17 15 32 Installment receivables, gross $ 721 $ 430 $ 1,151 $ 1,037 $ 435 $ 1,472 Activity in the deferred interest and allowance for credit losses for the installment receivables was as follows: Nine Months Ended Twelve Months Ended December 31, 2018 March 31, 2018 (in millions) Deferred interest and allowance for credit losses, beginning of period $ 323 $ 506 Adjustment to deferred interest on short- and long-term installment receivables due to Topic 606 (50 ) — Bad debt expense 66 142 Write-offs, net of recoveries (88 ) (224 ) Change in deferred interest on short- and long-term installment receivables 6 (101 ) Deferred interest and allowance for credit losses, end of period $ 257 $ 323 |
Intangible Assets
Intangible Assets | 9 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets Indefinite-Lived Intangible Assets Our indefinite-lived intangible assets consist of FCC licenses, which were acquired primarily through FCC auctions and business combinations, certain of our trademarks and goodwill. At December 31, 2018 , we held 800 MHz, 1.9 GHz and 2.5 GHz FCC licenses authorizing the use of radio frequency spectrum to deploy our wireless services. As long as the Company acts within the requirements and constraints of the regulatory authorities, the renewal and extension of these licenses is reasonably certain at minimal cost. Accordingly, we have concluded that FCC licenses are indefinite-lived intangible assets. Our Sprint and Boost Mobile trademarks have also been identified as indefinite-lived intangible assets. Goodwill represents the excess of consideration paid over the estimated fair value of net tangible and identifiable intangible assets acquired in business combinations. The following provides the activity of indefinite-lived intangible assets within the consolidated balance sheets: March 31, Net Additions December 31, (in millions) FCC licenses $ 37,274 $ 139 $ 37,413 Trademarks 4,035 — 4,035 Goodwill (1) 6,586 12 6,598 $ 47,895 $ 151 $ 48,046 _________________ (1) Through December 31, 2018 , there is no accumulated impairment losses for goodwill. Assessment of Impairment Our annual impairment testing date for goodwill and indefinite-lived intangible assets is January 1 of each year; however, we test for impairment between our annual tests if an event occurs or circumstances change that indicate that the asset may be impaired, or in the case of goodwill, that the fair value of the reporting unit is below its carrying amount. Our most recent test for impairment of goodwill was completed at June 30, 2018 and we concluded that the estimated fair value of the Wireless reporting unit exceeded the carrying amount. As a result, no goodwill impairment was recorded. The determination of fair value requires considerable judgment and is highly sensitive to changes in underlying assumptions. Consequently, there can be no assurance that the estimates and assumptions made for the purposes of the goodwill, spectrum licenses, and Sprint and Boost Mobile trade names impairment tests will prove to be an accurate prediction of the future. Sustained declines in the Company’s operating results, number of wireless subscribers, future forecasted cash flows, growth rates and other assumptions, as well as significant, sustained declines in the Company’s stock price and related market capitalization could impact the underlying key assumptions and our estimated fair values, potentially leading to a future material impairment of goodwill or other indefinite-lived intangible assets. Intangible Assets Subject to Amortization Customer relationships are amortized using the sum-of-the-months' digits method, while all other definite-lived intangible assets are amortized using the straight-line method over the estimated useful lives of the respective assets. We reduce the gross carrying value and associated accumulated amortization when specified intangible assets become fully amortized. Amortization expense related to favorable spectrum and tower leases is recognized in "Cost of services" in our consolidated statements of comprehensive (loss) income. December 31, 2018 March 31, 2018 Useful Lives Gross Accumulated Net Gross Accumulated Net (in millions) Customer relationships 5 to 8 years $ 6,563 $ (5,906 ) $ 657 $ 6,562 $ (5,462 ) $ 1,100 Other intangible assets: Favorable spectrum leases 23 years 764 (142 ) 622 856 (172 ) 684 Favorable tower leases 9 years 335 (207 ) 128 335 (179 ) 156 Trademarks 2 to 34 years 520 (86 ) 434 520 (74 ) 446 Other 5 to 10 years 135 (61 ) 74 129 (50 ) 79 Total other intangible assets 1,754 (496 ) 1,258 1,840 (475 ) 1,365 Total definite-lived intangible assets $ 8,317 $ (6,402 ) $ 1,915 $ 8,402 $ (5,937 ) $ 2,465 |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consists primarily of network equipment, leased devices and other long-lived assets used to provide service to our subscribers. Non-cash accruals included in property, plant and equipment (excluding leased devices) totaled $1.0 billion and $428 million as of December 31, 2018 and 2017 , respectively. The following table presents the components of property, plant and equipment and the related accumulated depreciation: December 31, March 31, (in millions) Land $ 247 $ 254 Network equipment, site costs and related software 24,015 22,930 Buildings and improvements 833 813 Leased devices, non-network internal use software, office equipment and other 12,612 11,149 Construction in progress 3,520 2,202 Less: accumulated depreciation (19,805 ) (17,423 ) Property, plant and equipment, net $ 21,422 $ 19,925 Sprint offers a leasing program to its customers whereby qualified subscribers can lease a device for a contractual period of time. At the end of the lease term, the subscriber has the option to return the device, continue leasing the device, or purchase the device. As of December 31, 2018 , substantially all of our device leases were classified as operating leases. Purchases of leased devices are reported as cash outflows for "Capital expenditures - leased devices" in the consolidated statements of cash flows. The devices are then depreciated using the straight-line method to their estimated residual value generally over the term of the lease. The following table presents leased devices and the related accumulated depreciation: December 31, March 31, (in millions) Leased devices $ 10,987 $ 9,592 Less: accumulated depreciation (4,304 ) (3,580 ) Leased devices, net $ 6,683 $ 6,012 During the nine-month periods ended December 31, 2018 and 2017 , we had non-cash transfers of returned leased devices from property, plant and equipment to device and accessory inventory at the lower of net book value or their estimated fair value of $645 million and $574 million , respectively. Non-cash accruals included in leased devices totaled $264 million and $306 million as of December 31, 2018 and 2017 , respectively. During the three- and nine-month periods ended December 31, 2018 and 2017 , we recorded $299 million , $642 million , $123 million and $527 million , respectively, of loss on disposal of property, plant and equipment, net of recoveries. Net losses that resulted from the write-off of leased devices were primarily associated with lease cancellations prior to the scheduled customer lease terms, where customers did not return the devices to us. Such losses were $182 million , $457 million , $123 million and $347 million for the three- and nine-month periods ended December 31, 2018 and 2017 , respectively, and are included in "Cost of equipment rentals" in our consolidated statements of comprehensive (loss) income. During the three- and nine-month periods ended December 31, 2018 , we recorded $117 million and $185 million , respectively, of losses primarily related to cell site construction costs and other network costs that are no longer recoverable as a result of changes in our network plans, which are included in "Other, net" in our consolidated statements of comprehensive (loss) income. During the nine-month period ended December 31, 2017 , we recorded $180 million of losses primarily related to cell site construction costs that are no longer recoverable as a result of changes in our network plans. |
Long-Term Debt, Financing and C
Long-Term Debt, Financing and Capital Lease Obligations | 9 Months Ended |
Dec. 31, 2018 | |
Long-term Debt and Capital Lease Obligations [Abstract] | |
Long-Term Debt, Financing and Capital Lease Obligations | Long-Term Debt, Financing and Capital Lease Obligations Interest Rates Maturities December 31, March 31, (in millions) Notes Senior notes Sprint Corporation 7.13 - 7.88% 2021 - 2026 $ 12,000 $ 12,000 Sprint Communications, Inc. 6.00 - 11.50% 2020 - 2022 4,780 4,980 Sprint Capital Corporation 6.88 - 8.75% 2019 - 2032 6,204 6,204 Senior secured notes Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC 3.36 - 5.15% 2021 - 2028 6,344 7,000 Guaranteed notes Sprint Communications, Inc. 7.00 2020 1,000 2,753 Credit facilities Secured revolving bank credit facility 4.81% 2021 — — Secured term loans 5.06% - 5.56% 2024 5,030 3,960 PRWireless term loan 8.05% 2020 187 182 Export Development Canada (EDC) 4.77% 2019 300 300 Secured equipment credit facilities 4.02 - 4.85% 2020 - 2022 515 527 Accounts receivable facility 3.60 - 3.81% 2020 3,324 2,411 Financing obligations, capital lease and other obligations 2.35 - 12.00% 2019 - 2026 588 686 Net premiums and debt financing costs (388 ) (111 ) 39,884 40,892 Less current portion (3,596 ) (3,429 ) Long-term debt, financing and capital lease obligations $ 36,288 $ 37,463 As of December 31, 2018 , Sprint Corporation, had $12.0 billion in aggregate principal amount of senior notes outstanding. In addition, as of December 31, 2018 , the outstanding principal amount of the senior notes issued by Sprint Communications and Sprint Capital Corporation, the guaranteed notes issued by Sprint Communications, Sprint Communications' secured term loans and secured revolving bank credit facility, the EDC agreement, the secured equipment credit facilities, the Receivables Facility, and certain other obligations collectively totaled $21.6 billion in principal amount of our long-term debt. Sprint Corporation fully and unconditionally guaranteed such indebtedness, which was issued by 100% owned subsidiaries. Although certain financing agreements restrict the ability of Sprint Communications and its subsidiaries to distribute cash to Sprint Corporation, the ability of the subsidiaries to distribute cash to their respective parents, including to Sprint Communications, is generally not restricted. Cash interest payments, net of amounts capitalized of $54 million and $42 million during the nine-month periods ended December 31, 2018 and 2017 , respectively, totaled $1.9 billion during each of the nine-month periods ended December 31, 2018 and 2017 . Notes As of December 31, 2018 , our outstanding notes consisted of senior notes and guaranteed notes, all of which are unsecured, as well as senior secured notes associated with our spectrum financing transactions. Cash interest on all of the notes is payable semi-annually in arrears with the exception of the spectrum financing senior secured notes, which is payable quarterly. As of December 31, 2018 , $30.3 billion aggregate principal amount of the notes was redeemable at the Company's discretion at the then-applicable redemption prices plus accrued interest. As of December 31, 2018 , $24.1 billion aggregate principal amount of our senior notes, senior secured notes, and guaranteed notes provided holders with the right to require us to repurchase the notes if a change of control triggering event (as defined in the applicable indentures and supplemental indentures) occurs. In May 2018, we successfully completed consent solicitations with respect to certain series of Sprint Corporation, Sprint Communications, and Sprint Capital Corporation senior notes. As a result of the Sprint Corporation and Sprint Communications consent solicitations, the proposed merger transaction with T-Mobile , if consummated, will not constitute a change of control as defined in the applicable indentures governing the notes. Effective December 31, 2018, Sprint defeased the $200 million aggregate principal amount of Sprint Communications 9.25% debentures due 2022, which included the deposit of U.S. Treasury securities with the trustee to provide for the future interest and principal payments on the notes through maturity. The defeasance resulted in reductions to "Short-term investments" and "Current portion of long-term debt, financing and capital lease obligations" in the consolidated balance sheets as of December 31, 2018. In November 2018, Sprint Communications retired $1.8 billion aggregate principal amount upon maturity of its outstanding 9.000% Guaranteed Notes. Spectrum Financing In October 2016, certain subsidiaries of Sprint Communications, which were not "Restricted Subsidiaries" under Sprint Capital Corporation's indentures, transferred certain directly held and third-party leased spectrum licenses (collectively, Spectrum Portfolio) to wholly-owned bankruptcy-remote special purpose entities (collectively, Spectrum Financing SPEs). The Spectrum Portfolio, which represented approximately 14% of Sprint's total spectrum holdings on a MHz-pops basis, was used as collateral to raise an initial $3.5 billion in senior secured notes (2016 Spectrum-Backed Notes) bearing interest at 3.36% per annum under a $7.0 billion securitization program. The 2016 Spectrum-Backed Notes are repayable over a five -year term, with interest-only payments over the first four quarters and amortizing quarterly principal payments thereafter commencing December 2017 through September 2021. During the nine-month period ended December 31, 2018 , we made scheduled principal repayments of $656 million , resulting in a total principal amount outstanding related to the 2016 Spectrum-Backed Notes of $2.4 billion as of December 31, 2018 , of which $875 million was classified as "Current portion of long-term debt, financing and capital lease obligations" in the consolidated balance sheets. In March 2018, we amended the transaction documents governing the securitization program to allow for the issuance of more than $7.0 billion of notes outstanding pursuant to the securitization program subject to certain conditions, which, among other things, may require the contribution of additional spectrum. Also in March 2018, we issued approximately $3.9 billion in aggregate principal amount of senior secured notes under the existing $7.0 billion securitization program, consisting of two series of senior secured notes. The first series of notes totaled $2.1 billion in aggregate principal amount, bears interest at 4.738% per annum, have quarterly interest-only payments until June 2021, and amortizing quarterly principal amounts thereafter commencing in June 2021 through March 2025. The second series of notes totaled approximately $1.8 billion in aggregate principal amount, bears interest at 5.152% per annum, have quarterly interest-only payments until June 2023, and amortizing quarterly principal amounts thereafter commencing in June 2023 through March 2028. The Spectrum Portfolio, which also serves as collateral for the 2016 Spectrum-Backed Notes, remains substantially identical to the original portfolio from October 2016. Simultaneously with the October 2016 offering, Sprint Communications entered into a long-term lease with the Spectrum Financing SPEs for the ongoing use of the Spectrum Portfolio. The spectrum lease is an executory contract, which for accounting purposes is treated in a similar manner to an operating lease. Sprint Communications is required to make monthly lease payments to the Spectrum Financing SPEs at a market rate. The lease payments, which are guaranteed by Sprint Corporation and certain subsidiaries (none of which are "Restricted Subsidiaries" under Sprint Capital Corporation's indentures) of Sprint Communications (and are secured together with the obligations under another transaction document by substantially all of the assets of such entities on a pari passu basis up to an aggregate cap of $3.5 billion with the grant of security under the secured term loan and revolving bank credit facility and EDC (as defined below) agreement), are sufficient to service all outstanding series of the senior secured notes and the lease also constitutes collateral for the senior secured notes. Because the Spectrum Financing SPEs are wholly-owned Sprint subsidiaries, these entities are consolidated and all intercompany activity has been eliminated. Each Spectrum Financing SPE is a separate legal entity with its own separate creditors who will be entitled, prior to and upon the liquidation of the Spectrum Financing SPEs, to be satisfied out of the Spectrum Financing SPEs' assets prior to any assets of the Spectrum Financing SPEs becoming available to Sprint. Accordingly, the assets of the Spectrum Financing SPEs are not available to satisfy the debts and other obligations owed to other creditors of Sprint until the obligations of the Spectrum Financing SPEs under the spectrum-backed senior secured notes are paid in full. In June 2018, we obtained the consent of the control party under the spectrum-backed senior secured notes indenture to amend the indenture such that the proposed merger transaction with T-Mobile, if consummated, will not constitute a change of control as defined in the indenture. Credit Facilities Secured Term Loan and Revolving Bank Credit Facility On February 3, 2017, we entered into a credit agreement for $6.0 billion , consisting of a $4.0 billion , seven -year secured term loan (Initial Term Loan) that matures in February 2024 and a $2.0 billion secured revolving bank credit facility that expires in February 2021. As of December 31, 2018 , $105 million in letters of credit were outstanding under the secured revolving bank credit facility, including the letter of credit required by the Report and Order (see Note 11. Commitments and Contingencies) . As a result of the outstanding letters of credit, which directly reduce the availability of borrowings, the Company had approximately $1.9 billion of borrowing capacity available under the secured revolving bank credit facility as of December 31, 2018 . The bank credit facility requires a ratio (Leverage Ratio) of total indebtedness to trailing four quarters earnings before interest, taxes, depreciation and amortization and other non-recurring items, as defined by the bank credit facility (adjusted EBITDA), not to exceed 4.75 to 1.0 through the fiscal quarter ending December 31, 2018. For each fiscal quarter ending March 31, 2019 through December 31, 2019, the Leverage Ratio must not exceed 3.75 to 1.0 . The Leverage Ratio must not exceed 3.5 to 1.0 for the fiscal quarter ended March 31, 2020 and each fiscal quarter ending thereafter through expiration of the facility. The Initial Term Loan has an interest rate equal to LIBOR plus 250 basis points and the secured revolving bank credit facility has an interest rate equal to LIBOR plus a spread that varies depending on the Leverage Ratio. During the nine-month period ended December 31, 2018 , we made principal repayments on the Initial Term Loan totaling $30 million , resulting in a total principal amount outstanding for the Initial Term Loan of $3.9 billion as of December 31, 2018 . In consideration of the Initial Term Loan, we entered into a five -year fixed-for-floating interest rate swap on a $2.0 billion notional amount that has been designated as a cash flow hedge. The effective portion of changes in fair value are recorded in "Other comprehensive (loss) income" in the consolidated statements of comprehensive (loss) income and the ineffective portion, if any, is recorded as interest expense in current period earnings in the consolidated statements of comprehensive (loss) income. The fair value of the interest rate swap was $31 million and $41 million as of December 31, 2018 and March 31, 2018 , respectively, which was recorded in "Other assets" in the consolidated balance sheets. On November 26, 2018, the credit agreement was amended to, among other things, add an incremental secured term loan (Incremental Term Loan) of $1.1 billion that matures in February 2024, which increased the total credit facility to $7.1 billion . The Incremental Term Loan has an interest rate equal to LIBOR plus 300 basis points. PRWireless Term Loan During the three-month period ended December 31, 2017, Sprint and PRWireless PR, Inc. completed a transaction to combine their operations in Puerto Rico and the U.S. Virgin Islands into a new entity. Prior to the formation of the new entity, PRWireless PR, Inc. had incurred debt under a secured term loan, which became debt of the new entity upon the transaction close. The secured term loan bears interest at 5.25% plus LIBOR and expires in June 2020. Any amounts repaid early may not be drawn again. During the nine-month period ended December 31, 2018 , the joint venture borrowed $6 million and made principal repayments totaling $1 million , resulting in a total principal amount outstanding of $187 million as of December 31, 2018 , with an additional $14 million remaining available. Sprint has provided an unsecured guarantee of repayment of the secured term loan obligations. The secured portion of the facility is limited to assets of the new entity as the borrower. EDC Agreement As of December 31, 2018 , the EDC agreement provided for security and covenant terms similar to our secured term loan and revolving bank credit facility. However, under the terms of the EDC agreement, repayments of outstanding amounts cannot be redrawn. As of December 31, 2018 , the total principal amount of our borrowings under the EDC facility was $300 million . Secured Equipment Credit Facilities Finnvera plc (Finnvera) The Finnvera secured equipment credit facility provided for the ability to borrow up to $800 million to finance network equipment-related purchases from Nokia Solutions and Networks US LLC, USA. The facility's availability for borrowing expired in October 2017. Such borrowings were contingent upon the amount and timing of network equipment-related purchases made by Sprint. During the nine-month period ended December 31, 2018 , we made principal repayments totaling $54 million on the facility, resulting in a total principal amount of $120 million outstanding as of December 31, 2018 . K-sure The K-sure secured equipment credit facility provides for the ability to borrow up to $750 million to finance network equipment-related purchases from Samsung Telecommunications America, LLC. The facility can be divided into three consecutive tranches of varying size. In October 2018, we amended the secured equipment credit facility to extend the borrowing availability through September 2019. Such borrowings are contingent upon the amount and timing of network equipment-related purchases made by Sprint. During the nine-month period ended December 31, 2018 , we drew $156 million and made principal repayments totaling $75 million on the facility, resulting in a total principal amount of $275 million outstanding as of December 31, 2018 . Delcredere | Ducroire (D/D) The D/D secured equipment credit facility provided for the ability to borrow up to $250 million to finance network equipment-related purchases from Alcatel-Lucent USA Inc. In September 2017, we amended the secured equipment credit facility to restore previously expired commitments of $150 million . During the nine-month period ended December 31, 2018 , we made principal repayments totaling $40 million on the facility, resulting in a total principal amount of $119 million outstanding as of December 31, 2018 . Borrowings under the Finnvera, K-sure and D/D secured equipment credit facilities are each secured by liens on the respective network equipment purchased pursuant to each facility's credit agreement. In addition, repayments of outstanding amounts borrowed under the secured equipment credit facilities cannot be redrawn. Each of these facilities is fully and unconditionally guaranteed by both Sprint Communications and Sprint Corporation. The secured equipment credit facilities have certain key covenants similar to those in our secured term loan and revolving bank credit facility. Accounts Receivable Facility Transaction Overview Our Receivables Facility provides us the opportunity to sell certain wireless service receivables, installment receivables, and future amounts due from customers who lease certain devices from us to unaffiliated third parties (the Purchasers). The maximum funding limit under the Receivables Facility is $4.5 billion . While we have the right to decide how much cash to receive from each sale, the maximum amount of cash available to us varies based on a number of factors and, as of December 31, 2018 , represents approximately 50% of the total amount of the eligible receivables sold to the Purchasers. As of December 31, 2018 , the total amount of borrowings under our Receivables Facility was $3.3 billion and the total amount available to be drawn was $131 million . However, subsequent to December 31, 2018 , Sprint repaid $2.0 billion under the Receivables Facility reducing amounts outstanding to $1.3 billion . In February 2017, the Receivables Facility was amended and Sprint regained effective control over the receivables transferred to the Purchasers by obtaining the right, under certain circumstances, to repurchase them. Subsequent to the February 2017 amendment, all proceeds received from the Purchasers in exchange for the transfer of our wireless service and installment receivables are recorded as borrowings. Repayments and borrowings under the Receivables Facility are reported as financing activities in the consolidated statements of cash flows. All cash collected on repurchased receivables continues to be recognized in investing activities in the consolidated statements of cash flows. In October 2017, the Receivables Facility was amended to, among other things, extend the maturity date to November 2019 and to reallocate the Purchasers' commitments between wireless service, installment and future lease receivables through May 2018 to 26% , 28% and 46% , respectively. After May 2018, the allocation of the Purchasers' commitments between wireless service, installment and future lease receivables are 26% , 18% and 56% , respectively. In June 2018, the Receivables Facility was further amended to, among other things, extend the maturity date to June 2020, increase the maximum funding limit by $200 million , reduce financing costs, add month-to-month lease receivables as eligible receivables for leases that extend past their original lease term, and change the Purchasers' commitment allocations. The Purchasers' commitments are allocated 22% to wireless service receivables and 78% to a combined pool of installment receivables, future lease receivables and month-to-month lease receivables. During the nine-month period ended December 31, 2018 , we borrowed $5.1 billion and repaid $4.2 billion to the Purchasers. Prior to the February 2017 amendment, wireless service and installment receivables sold to the Purchasers were treated as a sale of financial assets and we derecognized these receivables, as well as the related allowances, and recognized the net proceeds received in cash provided by operating activities in the consolidated statements of cash flows. The total proceeds from the sale of these receivables were comprised of a combination of cash, which was recognized as operating activities within our consolidated statements of cash flows, and a deferred purchase price (DPP). The DPP was realized by us upon either the ultimate collection of the underlying receivables sold to the Purchasers or upon Sprint's election to receive additional advances in cash from the Purchasers subject to the total availability under the Receivables Facility. All cash collections on the DPP were recognized as investing activities in the consolidated statements of cash flows. The fees associated with these sales were recognized in "Selling, general and administrative" in the consolidated statements of comprehensive (loss) income through the date of the February 2017 amendment. Subsequent to the February 2017 amendment, the sale of wireless service and installment receivables are reported as financings, which is consistent with our historical treatment for the sale of future lease receivables, and the associated fees are recognized as "Interest expense" in the consolidated statements of comprehensive (loss) income. Transaction Structure Sprint contributes certain wireless service, installment and future lease receivables, as well as the associated leased devices, to Sprint's wholly-owned consolidated bankruptcy-remote special purpose entities (SPEs). At Sprint's direction, the SPEs have sold, and will continue to sell, wireless service, installment and future lease receivables to Purchasers or to a bank agent on behalf of the Purchasers. Leased devices will remain with the SPEs, once sales are initiated, and continue to be depreciated over their estimated useful life. As of December 31, 2018 , wireless service, installment and lease receivables contributed to the SPEs and included in "Accounts and notes receivable, net" in the consolidated balance sheets were $2.5 billion and the long-term portion of installment receivables included in "Other assets" in the consolidated balance sheets was $204 million . As of December 31, 2018 , the net book value of devices contributed to the SPEs was $6.7 billion . Each SPE is a separate legal entity with its own separate creditors who will be entitled, prior to and upon the liquidation of the SPE, to be satisfied out of the SPE’s assets prior to any assets in the SPE becoming available to Sprint. Accordingly, the assets of the SPE are not available to pay creditors of Sprint or any of its affiliates (other than any other SPE), although collections from these receivables in excess of amounts required to repay the advances, yield and fees of the Purchasers and other creditors of the SPEs may be remitted to Sprint during and after the term of the Receivables Facility. Sales of eligible receivables by the SPEs generally occur daily and are settled on a monthly basis. Sprint pays a fee for the drawn and undrawn portions of the Receivables Facility. A subsidiary of Sprint services the receivables in exchange for a monthly servicing fee, and Sprint guarantees the performance of the servicing obligations under the Receivables Facility. Variable Interest Entity Sprint determined that certain of the Purchasers, which are multi-seller asset-backed commercial paper conduits (Conduits) are considered variable interest entities because they lack sufficient equity to finance their activities. Sprint's interest in the receivables purchased by the Conduits is not considered a variable interest because Sprint's interest is in assets that represent less than 50% of the total activity of the Conduits. Financing Obligations, Capital Lease and Other Obligations Tower Financing During 2008, we sold and subsequently leased back approximately 3,000 cell sites, of which approximately 1,750 remain as of December 31, 2018 . Terms extend through 2021, with renewal options for an additional 20 years. These cell sites continue to be reported as part of our "Property, plant and equipment, net" in our consolidated balance sheets due to our continued involvement with the property sold and the transaction is accounted for as a financing. The financing obligation as of December 31, 2018 is $118 million . Capital Lease and Other Obligations In May 2016, Sprint closed on a transaction with Shentel to acquire one of our wholesale partners, NTELOS Holdings Corporation (nTelos). The total consideration for this transaction included $181 million , on a net present value basis, of notes payable to Shentel. Sprint will satisfy its obligations under the notes payable over an expected term of five to six years, of which the remaining obligation is $118 million as of December 31, 2018 . The remainder of our capital lease and other obligations of $310 million as of December 31, 2018 are primarily for the use of wireless network equipment. Covenants Certain indentures and other agreements require compliance with various covenants, including covenants that limit the ability of the Company and its subsidiaries to sell all or substantially all of its assets, limit the ability of the Company and its subsidiaries to incur indebtedness and liens, and require that we maintain certain financial ratios, each as defined by the terms of the indentures, supplemental indentures and financing arrangements. As of December 31, 2018 , the Company was in compliance with all restrictive and financial covenants associated with its borrowings. A default under any of our borrowings could trigger defaults under certain of our other debt obligations, which in turn could result in the maturities being accelerated. Under our secured revolving bank credit facility, we are currently restricted from paying cash dividends because our ratio of total indebtedness to adjusted EBITDA (each as defined in the applicable agreements) exceeds 2.5 to 1.0 . |
Revenues from Contracts with Cu
Revenues from Contracts with Customers | 9 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | Revenues from Contracts with Customers The Company adopted Topic 606 beginning on April 1, 2018 using the modified retrospective method. We earn revenue from contracts with customers, primarily through the provision of telecommunications and other services and the sale or rental of wireless devices and accessories. Net operating revenues primarily consist of Wireless and Wireline service revenues, revenues generated from device and accessory sales, revenues from wholesale operators and third-party affiliates. Our contracts with customers may involve multiple performance obligations, which include services, wireless devices or a combination thereof, and we allocate the transaction price between each performance obligation based on its relative standalone selling price. Upon adoption, the Company applied the standard only to contracts that were not completed, referred to as open contracts. We operate two reportable segments: Wireless and Wireline. For additional information regarding our business and segments, see "Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations." Contracts with Customers Service-related components of the total transaction price typically consist of fixed monthly recurring charges, variable usage charges and miscellaneous fees such as activation fees, international long distance and roaming, commissions on the device insurance program, late payment and administrative fees, and certain regulatory-related fees, net of service credits. For contracts involving multiple performance obligations, such as equipment and service, revenue is allocated based on relative standalone selling price of each performance obligation. We generally recognize revenue allocated to service performance obligations as those services are rendered. As a result of the timing of our multiple billing cycles throughout each month, we are required to estimate the amount of subscriber revenues earned but not billed from the end of each billing cycle to the end of each reporting period, and to estimate and defer amounts billed but not earned as of the end of each reporting period. These estimates are based primarily on rate plans in effect and our historical usage and billing patterns. Regulatory fees and costs are recorded gross. The largest component of regulatory fees is the Universal Service Fund, which represented no more than 1% of net operating revenues for the three- and nine-month periods ended December 31, 2018 and no more than 2% and 1% , respectively, for the three- and nine-month periods ended December 31, 2017 in the consolidated statements of comprehensive (loss) income. We recognize equipment sales and corresponding costs of equipment sales when title and risk of loss passes to the indirect dealer or end-use subscriber, assuming all other revenue recognition criteria are met. This typically occurs at the point of sale for direct channel sales and freight-on-board dealer destination for indirect channel sales. For the three- and nine-month periods ended December 31, 2018 , equipment sales to our indirect dealers were approximately $1.0 billion and $ 2.6 billion , respectively. In subsidized postpaid and prepaid Wireless contracts, we subsidize the cost of the device as an incentive to retain and acquire subscribers. We recognize revenue on equipment rentals subject to leasing contracts in accordance with the classification of the lease, which is over the lease term for operating leases or upon transfer of control over the equipment for most capital leases. The accounting estimates related to the recognition of revenue require us to make assumptions about numerous factors such as future billing adjustments, future returns, and the total contract consideration (e.g., for contracts which include customer incentives or consideration payable to the customer). We use output methods to recognize revenue for performance obligations satisfied over time (i.e., service performance obligations). Output methods measure progress toward satisfying a performance obligation on the basis of direct measurements of the goods or services transferred to date, relative to the remaining goods or services promised under a contract. Management asserts that this method most reasonably represents the transfer of goods or services to the customer. For prepaid contracts which provide the customer with the ability to redeem fixed prepayments for future goods or services, we utilize the proportional amount of redemptions from the customer in comparison to the total expected amount of redemptions as an estimate of our progress toward satisfaction of our performance obligations. For postpaid contracts with unlimited amounts of monthly service and for Wireline contracts, we utilize the time elapsed in relation to the total contract duration as an estimate of our progress toward satisfaction of our performance obligations. In determining the amounts of revenue to recognize, we use the following methods, inputs, and assumptions: • Determination of transaction price - we include any fixed and determinable charges per our contracts as part of the total transaction price. To the extent that variable consideration is not constrained, we include a probability-weighted estimate of the variable amount within the total transaction price and update our assumptions over the duration of the contract. We do not accept non-cash consideration from our customers as direct payment for the purchase of equipment at contract inception or for the purchase of ongoing services. Subject to certain restrictions, we may purchase used equipment from customers entering into a new subscriber contract. Our payment for the purchase of this used equipment may not equal its market value. In those circumstances, the expected difference between the purchase price and the market value of the used equipment is treated as an adjustment to the total transaction price of the customer's contract at contract inception. • Assessment of estimates of variable consideration - our Wireless contracts generally do not involve variable consideration which must be allocated amongst performance obligations at contract inception, other than expected adjustments to the total transaction price related to (a) customer equipment rebates; (b) customer retention credits; and (c) product returns and service refunds, all of which we are able to reasonably estimate at contract inception based upon historical experience with similar or identical contracts and similar or identical customers. Our Wireline contracts are generally not subject to significant amounts of variable consideration. We do not consider any of our variable consideration to be constrained for the purpose of estimating the total transaction price to be allocated to our performance obligations. • Allocation of transaction price - we allocate the total transaction price in our contracts amongst performance obligations based upon the relative standalone selling prices of those performance obligations. We use observable external pricing of performance obligations when sold on a standalone basis as evidence of standalone selling prices. Discounts and premiums built into our transaction prices are typically allocated proportionately to all performance obligations within the contracts, exclusive of performance obligations for the delivery of accessories, which are consistently sold at a standalone selling price regardless of bundling, and with the exception of estimated Wireless customer retention credits, which are treated as a reduction in the portion of the total transaction price allocated to service revenue. • Measurement of returns, refunds, and other similar obligations are estimated separately for separate product and service types based upon historical experience with similar contracts and similar types of customers. The total transaction price is reduced by the amount estimated as a return, refund, or other similar obligation in relation to the sale. This amount is recorded as a current liability, unless and until our estimates have changed or the relevant obligation has been satisfied. Disaggregation of Revenue We disaggregate revenue based upon differences in accounting for underlying performance obligations. Accounting differences related to our performance obligations are driven by various factors, including the type of product offering provided, the type of customer, and the expected timing of payment for goods and services. The following table presents disaggregated reported revenue by category: Three Months Ended Nine Months Ended December 31, 2018 December 31, 2018 (in millions) Service revenue Postpaid $ 4,236 $ 12,679 Prepaid 924 2,860 Wholesale, affiliate and other 294 881 Wireline 245 781 Total service revenue 5,699 17,201 Equipment sales 1,589 4,180 Equipment rentals 1,313 3,778 Total revenue $ 8,601 $ 25,159 Contract Assets and Liabilities Performance obligations related to our Wireless segment involve the provision of equipment and service. In most circumstances, equipment performance obligations provided to the customer as part of subsidized and installment billing contracts, or as part of standalone equipment sales, are satisfied when title and risk of loss passes to the indirect dealer or end-use subscriber, assuming all other revenue recognition criteria are met. This typically occurs at the point of sale for direct channel sales and freight-on-board dealer destination for indirect channel sales. We recognize revenue on equipment rentals subject to leasing contracts in accordance with the classification of the lease, which is over the lease term for operating leases or upon transfer of control over the equipment for most capital leases. Wireless service performance obligations are typically satisfied over 24 months for subsidized and installment billing contracts with substantive termination penalties such as Buy-One-Get-One (BOGO) contracts, over 18 to 30 months for leasing contracts, and over one month for traditional installment billing contracts. Amounts due for subsidized equipment are due at point of sale. Amounts due for equipment subject to an operating or capital lease are invoiced and collected monthly over the term of the lease. Amounts due for equipment subject to an installment billing note are invoiced and collected monthly over the term of the note, typically between 24 and 30 months for handsets and 12 to 18 months for accessories. A financing component exists in relation to subsidized and installment billing Wireless contracts. However, we do not consider the financing component to be quantitatively or qualitatively significant for installment billing contracts with durations longer than one year. For those installment billing contracts with durations of one year or less, we have elected to apply the practical expedient and not adjust the transaction price for the effects of a financing component. Amounts due for Wireless services are typically invoiced and collected monthly over the relevant service period. Wireless contracts generally do not involve variable consideration, other than expected adjustments to the total transaction price related to expected future price concessions and product returns and service refunds. Our Wireless contracts include consideration resulting from monthly customer charges intended to partially recover taxes imposed on the Company, including fees related to the Universal Service Fund. These fees are based on the customer's estimated monthly voice usage and are therefore allocated to corresponding distinct months of Wireless services. We update our estimates related to return and refund obligations for Wireless equipment and services on a quarterly basis. Returns and refunds are typically provided for up to 14 days after contract inception for individual customers and for 30 days for business customers. Performance obligations related to our Wireline business involve the provision of services to corporate customers. Wireline service performance obligations are satisfied typically over a period between 24 and 36 months. Amounts due for services are invoiced and collected periodically over the relevant service period. Wireline contracts are not subject to significant amounts of variable consideration, other than charges intended to partially recover taxes imposed on the Company, including fees related to the Universal Service Fund. Such fees are based on the customer's estimated monthly usage and are therefore allocated to corresponding distinct months of Wireline services. Our Wireline contracts do provide the customer with monthly options to purchase goods or services at prices commensurate with the standalone selling prices for those goods or services, as determined at contract inception. The relationship between the satisfaction of our performance obligations and collection of payments from the customer will vary depending upon the type of contract. In Wireless subsidized contracts, payment related to equipment performance obligations is partially collected upfront and partially collected over the related service period resulting in a contract asset position at contract inception. In traditional Wireless installment billing contracts, the full amount of consideration related to equipment performance obligations is recognized as a receivable at contract inception and collected ratably in accordance with payment terms attached to the installment note. Traditional Wireless installment billing contracts are subject to an accounting contract duration of one month, and therefore do not result in the recognition of a contract position. In Wireless installment billing contracts that include a substantive termination penalty such as when customers receive a monthly service credit to offset monthly payments against applicable installment billing notes, the amount of the total transaction price that is allocated to equipment performance obligations is less than the amount recognized as a noncontingent receivable from the customer at contract inception, resulting in a contract liability position. In Wireless leasing contracts, the amount of cash received at inception is generally larger than the amount of upfront revenue allocated and recognized as rental income. This results in a contract liability at contract inception, which is often partially composed of deferred rental income. In prepaid contracts initiated in our indirect channel, customers may purchase a device at a discount. The Company will often reimburse the dealer some portion of this discount, which is expected to be recovered through future sales of monthly service. This results in a contract asset position at contract inception. In circumstances where prepaid customers prepay account balances, which can be used to purchase future Wireless goods or services, those amounts are recognized as a contract liability until the point where prepayments are redeemed for goods or services and the related performance obligations have been satisfied. In Wireline contracts, we record a contract position, either a contract asset or a contract liability depending upon the specific facts and circumstances of the contract, including to reflect differences between the amount of revenue allocated to equipment delivered upfront and the contractually stated price for that equipment, or if we collect nonrefundable upfront payments from customers related to installation and activation. We capitalize incremental commissions directly related to the acquisition or renewal of customer contracts, to the extent that the costs are expected to be recovered. Capitalized costs are amortized on a straight-line basis over the shorter of the expected customer life or the expected benefit related directly to those costs. We assess our capitalized contract acquisition asset for impairment on a quarterly basis. We impair our capitalized costs to the extent that the carrying amount of a capitalized cost exceeds (a) the remaining amount of consideration we expect to receive in exchange for the goods and services related to the cost, less (b) the expected costs related directly to providing those goods and services that have not yet been recognized as expenses. The following table presents the opening and closing balances of our contract assets, contract liabilities, and receivables balances, as well as capitalized costs associated with contracts with customers: December 31, April 1, 2018 2018 (in millions) Contract assets and liabilities Contract assets (1) $ 806 $ 432 Billed trade receivables 2,591 2,559 Unbilled trade receivables 918 1,250 Contract liabilities (2) 1,011 1,104 Other related assets and liabilities Other related assets: Capitalized costs to acquire a customer contract: Sales commissions - opening balance $ 1,219 Sales commissions - additions 874 Amortization of capitalized sales commissions (596 ) Net costs to acquire a customer contract $ 1,497 (1) The fluctuation correlates directly to the execution of new customer contracts and invoicing and collections from customers in the normal course of business. (2) Revenue recognized during the nine-month period ended December 31, 2018 , which was included within the beginning contract liability balance, amounts to $986 million . Remaining Performance Obligations The aggregate amount of total transaction price allocated to performance obligations in contracts existing as of the balance sheet date, which are wholly or partially unsatisfied as of the end of the reporting period, and the expected time frame for satisfaction of those wholly or partially unsatisfied performance obligations, are as follows (in millions): Remainder of year ending March 31, 2019 $ 2,898 Year ending March 31, 2020 6,558 Thereafter 319 Total $ 9,775 The amounts disclosed above relate to the allocation of revenue amongst performance obligations in contracts existing as of the balance sheet date, and not to any differences between the timing of revenue recognition and recognition of receivables or cash collection. As a result, those amounts are not necessarily reflected as a contract liability as of the balance sheet date. Included in the above amounts are $1.1 billion for the year ending March 31, 2019 and $2.5 billion for the year ending March 31, 2020, respectively, related to the allocation of the total transaction price to future operating lease revenues. Additionally, amounts disclosed above include estimates of variable consideration, where applicable. Our Wireless contracts generally do not involve variable consideration, other than expected adjustments to the total transaction price related to future price concessions and product returns and service refunds, all of which we are able to reasonably estimate at contract inception based upon historical experience with similar contracts and similar types of customers. In accordance with the practical expedients: • The amounts disclosed above do not include revenue allocated to wholly or partially unsatisfied performance obligations for which the accounting contract duration at contract inception is less than 12 months, which includes expected revenues from traditional installment billing contracts with a one-month accounting contract duration. • The amounts disclosed above do not include variable consideration resulting from monthly customer charges intended to partially recover taxes imposed on the Company, including fees related to the Universal Service Fund. Such fees are based on the customer's estimated monthly voice usage and are therefore allocated to corresponding distinct months of Wireless services. • The amounts disclosed above do not include variable consideration resulting from monthly charges to Wireless wholesale customers. Such fees are based on the customer's monthly usage of capacity and are therefore allocated to corresponding distinct months of Wireless services. Wireline contracts are generally not subject to significant amounts of variable consideration, other than charges intended to partially recover taxes imposed on the Company, including fees related to the Universal Service Fund. Such fees are based on the customer's estimated monthly usage and are therefore allocated to corresponding distinct months of Wireline services, and recognized as revenue when invoiced in accordance with the practical expedient. Our Wireline contracts do typically provide the customer with monthly options to purchase goods or services at prices commensurate with the standalone selling prices for those goods or services as determined at contract inception. |
Severance and Exit Costs
Severance and Exit Costs | 9 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Severance and Exit Costs | Severance and Exit Costs Severance and exit costs consist of lease exit costs primarily associated with tower and cell sites, access exit costs related to payments that will continue to be made under our backhaul access contracts for which we will no longer be receiving any economic benefit, and severance costs associated with reductions in our work force. The following provides the activity in the severance and exit costs liability included in "Accounts payable," "Accrued expenses and other current liabilities" and "Other liabilities" within the consolidated balance sheets. The net expenses are included in "Other, net" within the consolidated statements of comprehensive (loss) income: March 31, Net Expense Cash Payments and Other December 31, (in millions) Lease exit costs $ 165 $ 23 (1) $ (43 ) $ 145 Severance costs 64 22 (2) (74 ) 12 Access exit costs 19 18 (3) (13 ) 24 $ 248 $ 63 $ (130 ) $ 181 _________________ (1) For the nine-month period ended December 31, 2018 , we recognized costs of $23 million (Wireless only). (2) For the nine-month period ended December 31, 2018 , we recognized costs of $22 million ( $15 million Wireless, $7 million Wireline). (3) For the nine-month period ended December 31, 2018 , we recognized costs of $18 million ( $7 million Wireless , $11 million Wireline) as "Severance and exit costs." We continually refine our network strategy and evaluate other potential network initiatives to improve the overall performance of our network. Additionally, major cost cutting initiatives are expected to continue to reduce operating expenses and improve our operating cash flows. As a result of these ongoing activities, we may incur future material charges associated with lease and access exit costs, severance, asset impairments, and accelerated depreciation, among others. |
Income Taxes
Income Taxes | 9 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The U.S. federal statutory tax rates for the nine-month periods ended December 31, 2018 and 2017 were 21% and 31.5% , respectively. The Tax Cuts and Jobs Act (the Tax Act) enacted in December 2017 reduced the corporate income tax rate effective January 1, 2018. The differences that caused our effective income tax rates to differ from the U.S. federal statutory rates for the nine-month periods ended December 31, 2018 and 2017 , respectively, were as follows: Nine Months Ended 2018 2017 (in millions) Income tax expense at the federal statutory rate $ (61 ) $ (205 ) Effect of: State income taxes, net of federal income tax effect (40 ) (57 ) State law changes, net of federal income tax effect 62 (28 ) Increase deferred tax liability for organizational restructuring (12 ) — Increase deferred tax liability for business activity changes — (69 ) Credit for increasing research activities 13 11 Change in federal and state valuation allowance 12 (64 ) Increase in liability for unrecognized tax benefits (6 ) (20 ) Tax benefit from the Tax Act — 7,090 Non-deductible penalties (29 ) — Other, net 5 4 Income tax (expense) benefit $ (56 ) $ 6,662 Effective income tax rate 19.2 % (1,021.8 )% Income tax expense of $56 million for the nine-month period ended December 31, 2018 represented a consolidated effective tax rate of 19% . During the period, we recognized a $62 million tax benefit for the impact of state law changes enacted during the period, partially offset by a $12 million tax expense attributable to organizational restructuring. These adjustments were primarily driven by the change in carrying value of our deferred tax assets and liabilities on temporary differences. In addition, the rate was impacted by non-deductible penalties related to litigation with the State of New York that was settled during the period. Income tax benefit of $6.7 billion for the nine-month period ended December 31, 2017 represented a consolidated effective tax rate of (1,022)% . Income tax benefit was primarily attributable to the impact of the Tax Act, partially offset by taxable temporary differences from the tax amortization of FCC licenses and tax expense on pre-tax gains from spectrum license exchanges during the period. We also increased our deferred state income tax liability by $69 million for changes in business activities causing us to become subject to income tax in additional tax jurisdictions. This resulted in a change in the measurement of the carrying value of our deferred tax liability on temporary differences, primarily FCC licenses. We continue to maintain a valuation allowance on certain deferred tax assets, primarily net operating losses with definite-life carry forward periods. Factors that could change our judgment as to our ability to realize these deferred tax assets, and therefore, reduce our valuation allowance, include the existence of future taxable income generated by temporary differences reversing in the net operating loss carryforward periods and income from continuing operations. The Tax Act, enacted in December 2017, made broad and complex changes to the U.S. tax code, including, but not limited to: (1) reducing the U.S. federal corporate tax rate from 35% to 21%; (2) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017; (3) eliminating corporate alternative minimum tax; and (4) new tax rules related to foreign operations. In accordance with ASC Topic 740, Income Taxes and Staff Accounting Bulletin No. 118 (SAB 118), we made a reasonable estimate of the impacts of the Tax Act and recorded the estimate in the period ended December 31, 2017. SAB 118 allows for a measurement period not to extend beyond one year from the date of enactment to complete the accounting for the impacts of the Tax Act. As of December 31, 2018, our analysis under SAB 118 is complete, including, but not limited to, the re-measurement of deferred tax assets and liabilities. Our analysis resulted in no material adjustments to the provisional estimate recorded in the period ended December 31, 2017. As of December 31, 2018 and March 31, 2018 , we maintained unrecognized tax benefits of $233 million and $239 million , respectively. Cash paid for income taxes, net was $62 million and $55 million for the nine-month periods ended December 31, 2018 and 2017 , respectively. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation, Claims and Assessments In March 2009, a stockholder brought suit, Bennett v. Sprint Nextel Corp. , in the U.S. District Court for the District of Kansas, alleging that Sprint Communications and three of its former officers violated Section 10(b) of the Exchange Act and Rule 10b-5 by failing adequately to disclose certain alleged operational difficulties subsequent to the Sprint-Nextel merger, and by purportedly issuing false and misleading statements regarding the write-down of goodwill. The district court granted final approval of a settlement in August 2015, which did not have a material impact to our financial statements. Five stockholder derivative suits related to this 2009 stockholder suit were filed against Sprint Communications and certain of its present and/or former officers and directors. The first, Murphy v. Forsee , was filed in state court in Kansas on April 8, 2009, was removed to federal court, and was stayed by the court pending resolution of the motion to dismiss the Bennett case; the second, Randolph v. Forsee , was filed on July 15, 2010 in state court in Kansas, was removed to federal court, and was remanded back to state court; the third, Ross-Williams v. Bennett, et al. , was filed in state court in Kansas on February 1, 2011; the fourth, Price v. Forsee, et al., was filed in state court in Kansas on April 15, 2011; and the fifth, Hartleib v. Forsee, et al ., was filed in federal court in Kansas on July 14, 2011. These cases were essentially stayed while the Bennett case was pending, and we have reached an agreement in principle to settle the matters, by agreeing to some governance provisions and by paying plaintiffs' attorneys fees in an immaterial amount. The court approved the settlement but reduced the plaintiffs' attorneys fees. On April 27, 2018, the court of appeals for the state of Kansas affirmed the settlement ruling. On May 30, 2018, plaintiffs filed a Petition for Review with the Supreme Court of Kansas. On November 21, 2018, the Supreme Court of Kansas denied the Petition for Review, which concluded the case. On April 19, 2012, the New York Attorney General filed a complaint alleging that Sprint Communications had fraudulently failed to collect and pay more than $100 million in New York sales taxes on receipts from its sale of wireless telephone services since July 2005. The complaint also sought recovery of triple damages under the State False Claims Act, as well as penalties and interest. Sprint Communications moved to dismiss the complaint on June 14, 2012. On July 1, 2013, the court entered an order denying the motion to dismiss in large part, although it did dismiss certain counts or parts of certain counts. Sprint Communications appealed that order and the intermediate appellate court affirmed the order of the trial court. On October 20, 2015, the Court of Appeals of New York affirmed the decision of the appellate court that the tax statute required us to collect and remit the disputed taxes. Our petition for certiorari to the U.S. Supreme Court on grounds of federal preemption was denied. We previously paid the principal amount of tax at issue, under protest, while the suit was pending. On December 21, 2018, Sprint Communications and the State of New York settled the dispute, as well as an unrelated tax matter. As a result, the Company recognized an additional $50 million of litigation expense during the three-month period ended December 31, 2018. Eight related stockholder derivative suits have been filed against Sprint Communications and certain of its current and former officers and directors. Each suit alleges generally that the individual defendants breached their fiduciary duties to Sprint Communications and its stockholders by allegedly permitting, and failing to disclose, the actions alleged in the suit filed by the New York Attorney General. One suit, filed by the Louisiana Municipal Police Employees Retirement System, was dismissed by a federal court. Two suits were filed in state court in Johnson County, Kansas and one of those suits was dismissed as premature; and five suits are pending in federal court in Kansas. The remaining Kansas suits have been stayed pending resolution of the Attorney General's suit. We do not expect the resolution of these matters to have a material adverse effect on our financial position or results of operations. On October 9, 2018, October 18, 2018, and October 24, 2018, three purported stockholders of Sprint commenced actions, captioned Klein v. Sprint Corporation et al ., Muehlgay v. Sprint Corporation et al. , and Binns Blount v. Sprint Corporation et al., in the United States District Court for the District of Delaware. The complaints name Sprint and the members of the Sprint board of directors as defendants. The complaints asserted claims under Section 14(a) and Section 20(a) of the Exchange Act challenging the adequacy of the disclosures relating to the proposed merger transactions with T-Mobile made in the associated joint consent solicitation statement/prospectus. The complaints sought, among other relief, an injunction preventing the parties from consummating the merger transactions, damages in the event the merger transactions are consummated, and the award of attorneys’ fees. On October 29, 2018, the plaintiff in the Binns Blount action filed a notice voluntarily dismissing their complaint without prejudice. On December 27, 2018, the Klein case was dismissed. On January 4, 2019, the Muehlgay case was dismissed. Sprint is currently involved in numerous court actions alleging that Sprint is infringing various patents. Most of these cases effectively seek only monetary damages. A small number of these cases are brought by companies that sell products and seek injunctive relief as well. These cases have progressed to various degrees and a small number may go to trial if they are not otherwise resolved. Adverse resolution of these cases could require us to pay significant damages, cease certain activities, or cease selling the relevant products and services. In many circumstances, we would be indemnified for monetary losses that we incur with respect to the actions of our suppliers or service providers. We do not expect the resolution of these cases to have a material adverse effect on our financial position or results of operations. In October 2013, the FCC Enforcement Bureau began to issue notices of apparent liability (NALs) to other Lifeline providers, imposing fines for intracarrier duplicate accounts identified by the government during its audit function. Those audits also identified a small percentage of potentially duplicative intracarrier accounts related to our Assurance Wireless ® business. No NAL has yet been issued with respect to Sprint and we do not know if one will be issued. Further, we are not able to reasonably estimate the amount of any claim for penalties that might be asserted. However, based on the information currently available, if a claim is asserted by the FCC, Sprint does not believe that any amount ultimately paid would be material to the Company’s results of operations or financial position. Various other suits, inquiries, proceedings and claims, either asserted or unasserted, including purported class actions typical for a large business enterprise and intellectual property matters, are possible or pending against us or our subsidiaries. If our interpretation of certain laws or regulations, including those related to various federal or state matters such as sales, use or property taxes, or other charges were found to be mistaken, it could result in payments by us. While it is not possible to determine the ultimate disposition of each of these proceedings and whether they will be resolved consistent with our beliefs, we expect that the outcome of such proceedings, individually or in the aggregate, will not have a material adverse effect on our financial position or results of operations. During the three-month period ended September 30, 2018, we settled a state tax matter for which we had previously accrued $114 million , with no material impact on our financial position or results of operations upon final settlement. Spectrum Reconfiguration Obligations In 2004, the FCC adopted a Report and Order that included new rules regarding interference in the 800 MHz band and a comprehensive plan to reconfigure the 800 MHz band. The Report and Order provides for the exchange of a portion of our 800 MHz FCC spectrum licenses, and requires us to fund the cost incurred by public safety systems and other incumbent licensees to reconfigure the 800 MHz spectrum band. Also, in exchange, we received licenses for 10 MHz of nationwide spectrum in the 1.9 GHz band. The minimum cash obligation was $2.8 billion under the Report and Order. We are, however, obligated to continue to pay the full amount of the costs relating to the reconfiguration plan, although those costs have exceeded $2.8 billion . As required under the terms of the Report and Order, a letter of credit has been secured to provide assurance that funds will be available to pay the relocation costs of the incumbent users of the 800 MHz spectrum. The letter of credit was initially $2.5 billion , but has been reduced during the course of the proceeding to $78 million as of December 31, 2018 . Since the inception of the program, we have incurred payments of approximately $3.6 billion directly attributable to our performance under the Report and Order, including $35 million during the nine-month period ended December 31, 2018 . When incurred, substantially all costs are accounted for as additions to FCC licenses with the remainder as property, plant and equipment. Based on our expenses to date and on third party administrator's audits, we have exceeded $2.8 billion minimum cash obligation required by the FCC. On October 12, 2017, the FCC released a Declaratory Ruling that we have met the minimum cash obligation under the Report and Order and concluded that Sprint will not be required to make any payments to the U.S. Treasury. Completion of the 800 MHz band reconfiguration was initially required by June 26, 2008 and public safety reconfiguration is nearly complete across the country with the exception of the States of California and Texas. These areas, however, are nearly complete. The FCC continues to grant the remaining 800 MHz public safety licensees additional time to complete their band reconfigurations which, in turn, delays our access to our 800 MHz replacement channels in these areas. In the non-border areas of these states where band reconfiguration is complete, Sprint has received its replacement spectrum in the 800 MHz band and Sprint is deploying 3G CDMA and 4G LTE on this spectrum in combination with its spectrum in the 1.9 GHz and 2.5 GHz bands. |
Per Share Data
Per Share Data | 9 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Per Share Data | Per Share Data The computation of basic and diluted net (loss) income per common share attributable to Sprint was as follows: Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 (in millions, except per share amounts) Net (loss) income $ (145 ) $ 7,156 $ 235 $ 7,314 Less: Net loss (income) attributable to noncontrolling interests 4 6 (4 ) 6 Net (loss) income attributable to Sprint $ (141 ) $ 7,162 $ 231 $ 7,320 Basic weighted average common shares outstanding 4,078 4,001 4,050 3,998 Effect of dilutive securities: Options and restricted stock units — 47 56 61 Warrants (1) — 13 4 21 Diluted weighted average common shares outstanding 4,078 4,061 4,110 4,080 Basic net (loss) income per common share attributable to Sprint $ (0.03 ) $ 1.79 $ 0.06 $ 1.83 Diluted net (loss) income per common share attributable to Sprint $ (0.03 ) $ 1.76 $ 0.06 $ 1.79 Potentially dilutive securities: Outstanding stock options (2) 96 6 6 6 _________________ (1) For the nine-month period ended December 31, 2018, dilutive securities attributable to warrants include 1 million shares issuable under the warrant held by SoftBank. For the three- and nine-month periods ended December 31, 2017 , dilutive securities attributable to warrants include 9 million and 17 million shares, respectively, issuable under the warrant held by SoftBank. At the close of the merger with SoftBank, the warrant was issued at $5.25 per share. On July 10, 2018, SoftBank exercised its warrant in full to purchase 55 million shares of Sprint common stock for $287 million . (2) Potentially dilutive securities were not included in the computation of diluted net (loss) income per common share if to do so would have been antidilutive. |
Segments
Segments | 9 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment | Segments Sprint operates two reportable segments: Wireless and Wireline. • Wireless primarily includes retail, wholesale, and affiliate revenue from a wide array of wireless voice and data transmission services, revenue from the sale of wireless devices (handsets and tablets) and accessories, and equipment rentals from devices leased to customers, all of which are generated in the U.S., Puerto Rico and the U.S. Virgin Islands. • Wireline primarily includes revenue from domestic and international wireline communication services provided to other communications companies and targeted business subscribers, in addition to our Wireless segment. We define segment earnings as wireless or wireline operating income (loss) before other segment expenses such as depreciation, amortization, severance, exit costs, goodwill impairments, asset impairments, and other items, if any, solely and directly attributable to the segment representing items of a non-recurring or unusual nature. Expense and income items excluded from segment earnings are managed at the corporate level. Transactions between segments are generally accounted for based on market rates, which we believe approximate fair value. The Company generally re-establishes these rates at the beginning of each fiscal year. The impact of intercompany pricing rate changes to our Wireline segment earnings does not affect our consolidated results of operations as our Wireless segment has an equivalent offsetting impact in cost of services. Segment financial information is as follows: Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Three Months Ended December 31, 2018 Net operating revenues $ 8,351 $ 245 $ 5 $ 8,601 Inter-segment revenues (1) — 71 (71 ) — Total segment operating expenses (2) (5,240 ) (332 ) 72 (5,500 ) Segment earnings (loss) $ 3,111 $ (16 ) $ 6 3,101 Less: Depreciation - network and other (1,088 ) Depreciation - equipment rentals (1,137 ) Amortization (145 ) Merger costs (3) (67 ) Other, net (4) (185 ) Operating income 479 Interest expense (664 ) Other income, net 32 Loss before income taxes $ (153 ) Statement of Operations Information Wireless including hurricane and other Wireless hurricane and other Wireless excluding hurricane and other Wireline Corporate, Consolidated (in millions) Three Months Ended December 31, 2017 Net operating revenues (2) $ 7,928 $ 21 $ 7,949 $ 307 $ 4 $ 8,260 Inter-segment revenues (1) — — — 86 (86 ) — Total segment operating expenses (2) (5,286 ) 96 (5,190 ) (423 ) 72 (5,541 ) Segment earnings (loss) $ 2,642 $ 117 $ 2,759 $ (30 ) $ (10 ) 2,719 Less: Depreciation - network and other (987 ) Depreciation - equipment rentals (990 ) Amortization (196 ) Hurricane-related costs (2) (66 ) Other, net (4) 247 Operating income 727 Interest expense (581 ) Other expense, net (42 ) Income before income taxes $ 104 Statement of Operations Information Wireless including hurricane Wireless hurricane Wireless excluding hurricane Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2018 Net operating revenues (2) $ 24,365 $ (3 ) $ 24,362 $ 781 $ 13 $ 25,156 Inter-segment revenues (1) — — — 201 (201 ) — Total segment operating expenses (2) (14,650 ) (7 ) (14,657 ) (1,060 ) 198 (15,519 ) Segment earnings (loss) $ 9,715 $ (10 ) $ 9,705 $ (78 ) $ 10 9,637 Less: Depreciation - network and other (3,132 ) Depreciation - equipment rentals (3,454 ) Amortization (475 ) Hurricane-related reimbursements (2) 32 Merger costs (3) (216 ) Other, net (4) (320 ) Operating income 2,072 Interest expense (1,934 ) Other income, net 153 Income before income taxes $ 291 Statement of Operations Information Wireless including hurricane and other Wireless hurricane and other Wireless excluding hurricane and other Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2017 Net operating revenues (2) $ 23,347 $ 33 $ 23,380 $ 963 $ 13 $ 24,356 Inter-segment revenues (1) — — — 272 (272 ) — Total segment operating expenses (2) (15,109 ) 118 (14,991 ) (1,305 ) 241 (16,055 ) Segment earnings (loss) $ 8,238 $ 151 $ 8,389 $ (70 ) $ (18 ) 8,301 Less: Depreciation - network and other (2,961 ) Depreciation - equipment rentals (2,732 ) Amortization (628 ) Hurricane-related costs (2) (100 ) Other, net (4) 611 Operating income 2,491 Interest expense (1,789 ) Other expense, net (50 ) Income before income taxes $ 652 Other Information Wireless Wireline Corporate and Consolidated (in millions) Capital expenditures for the nine months ended December 31, 2018 $ 9,101 $ 170 $ 282 $ 9,553 Capital expenditures for the nine months ended December 31, 2017 $ 7,612 $ 132 $ 328 $ 8,072 _________________ (1) Inter-segment revenues consist primarily of wireline services provided to the Wireless segment for resale to, or use by, wireless subscribers. (2) The nine-month period ended December 31, 2018 includes $32 million of hurricane-related reimbursements, which are classified in our consolidated statements of comprehensive (loss) income as follows: $3 million as revenue in net operating revenues, $6 million as cost of services, $1 million as selling, general and administrative expenses and $22 million as other, net, all within the Wireless segment. The three- and nine-month periods ended December 31, 2017 includes $66 million and $100 million , respectively, of hurricane-related costs, which are classified in our consolidated statements of comprehensive (loss) income as follows: $21 million and $33 million , respectively, as contra-revenue in net operating revenues, $30 million and $45 million , respectively, as cost of services, $15 million and $17 million , respectively, as selling, general and administrative expenses and $5 million in the nine-month period only as other, net, all within the Wireless segment. In addition, the three- and nine-month periods ended December 31, 2017 includes a $51 million charge related to a regulatory fee matter, which is classified as cost of services in our consolidated statements of comprehensive (loss) income. (3) The three- and nine-month periods ended December 31, 2018 includes $67 million and $216 million , respectively, of merger-related costs, which were recorded as selling, general and administrative expenses in the consolidated statements of comprehensive (loss) income. (4) Other, net for the three- and nine-month periods ended December 31, 2018 includes $30 million and $63 million , respectively, of severance and exit costs primarily due to lease exit costs, reductions in work force and access termination charges. The three- and nine-month periods ended December 31, 2018 includes $117 million and $185 million , respectively, of loss on disposal of property, plant and equipment primarily related to cell site construction costs and other network costs that are no longer recoverable as a result of changes in our network plans . In addition, the three- and nine-month periods ended December 31, 2018 include a $12 million gain from the sale of certain assets and $50 million in litigation expense related to tax matters settled with the State of New York. The nine-month period ended December 31, 2018 includes $34 million associated with the purchase of certain leased spectrum assets, which upon termination of the related spectrum leases resulted in the accelerated recognition of the unamortized favorable lease balances. Other, net for the three- and nine-month periods ended December 31, 2017 includes $13 million of severance and exit costs in both periods and net reductions of $260 million and $315 million , respectively, primarily associated with legal settlements or favorable developments in pending legal proceeding. The nine-month period ended December 31, 2017 includes a $175 million net loss on disposal of property, plant and equipment, which consisted of a $181 million loss related to cell site construction costs that are no longer recoverable as a result of changes in our network plans, slightly offset by a $6 million gain. In addition, the nine-month period ended December 31, 2017 includes a $479 million non-cash gain related to spectrum license exchanges with other carriers and a $5 million reversal of previously accrued contract termination costs primarily related to the termination of our relationship with General Wireless Operations Inc. (Radio Shack). Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2018 Service revenue $ 5,160 $ 297 $ (71 ) $ 5,386 Wireless equipment sales 1,589 — — 1,589 Wireless equipment rentals 1,313 — — 1,313 Other 289 19 5 313 Total net operating revenues $ 8,351 $ 316 $ (66 ) $ 8,601 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2017 Service revenue (2) $ 5,311 $ 377 $ (88 ) $ 5,600 Wireless equipment sales 1,262 — — 1,262 Wireless equipment rentals 1,047 — — 1,047 Other 329 16 6 351 Total net operating revenues $ 7,949 $ 393 $ (82 ) $ 8,260 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2018 Service revenue (2) $ 15,536 $ 914 $ (201 ) $ 16,249 Wireless equipment sales 4,180 — — 4,180 Wireless equipment rentals 3,778 — — 3,778 Other 868 68 13 949 Total net operating revenues $ 24,362 $ 982 $ (188 ) $ 25,156 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2017 Service revenue (2) $ 16,141 $ 1,188 $ (273 ) $ 17,056 Wireless equipment sales 3,443 — — 3,443 Wireless equipment rentals 2,912 — — 2,912 Other 884 47 14 945 Total net operating revenues $ 23,380 $ 1,235 $ (259 ) $ 24,356 _______________ (1) Revenues eliminated in consolidation consist primarily of wireline services provided to the Wireless segment for resale to or use by wireless subscribers. (2) Service revenue related to the Wireless segment in the nine-month period ended December 31, 2018 excludes $3 million of hurricane-related revenue reimbursements reflected in net operating revenues in our consolidated statements of comprehensive (loss) income. Service revenue related to the Wireless segment in the three- and nine-month periods ended December 31, 2017 excludes $21 million and $33 million , respectively, of hurricane-related contra-revenue costs reflected in net operating revenues in our consolidated statements of comprehensive (loss) income. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related-Party Transactions In addition to agreements arising out of or relating to the SoftBank Merger, Sprint has entered into various other arrangements with SoftBank, its controlled affiliates or with third parties to which SoftBank Parties are also parties, including arrangements for international wireless roaming, wireless and wireline call termination, real estate, logistical management, and other services. Brightstar We have arrangements with Brightstar US, Inc. (Brightstar), whereby Brightstar provides supply chain and inventory management services to us in our indirect channels and whereby Sprint may sell new and used devices and new accessories to Brightstar for its own purposes. To facilitate certain of these arrangements, we have extended a $700 million credit line to Brightstar to assist with the purchasing and distribution of devices and accessories. As a result, we shifted our concentration of credit risk away from our indirect channel partners to Brightstar. As Brightstar is a subsidiary of SoftBank, we expect SoftBank will provide the necessary support to ensure that Brightstar will fulfill its obligations to us under these arrangements. However, we have no assurance that SoftBank will provide such support. The supply chain and inventory management arrangement included, among other things, that Brightstar may purchase inventory from the original equipment manufacturers to sell directly to our indirect dealers. As compensation for these services, we remit per unit fees to Brightstar for each device sold to dealers or retailers in our indirect channels. During the three- and nine-month periods ended December 31, 2018 and 2017 , we incurred fees under these arrangements totaling $18 million , $51 million , $25 million and $71 million , respectively, which are recognized in "Cost of equipment sales" and "Selling, general and administrative" expenses in the consolidated statements of comprehensive (loss) income. Additionally, we have an arrangement with Brightstar whereby they perform certain of our reverse logistics including device buyback, trade-in technology and related services. During the three-month period ended September 30, 2017, we entered into an arrangement with Brightstar whereby accessories previously procured by us and sold to customers in our direct channels will now be procured and consigned to us from Brightstar. Amounts billed from the sale of accessory inventory are remitted to Brightstar. In exchange for our efforts to sell accessory inventory owned by Brightstar, we received a fixed fee from Brightstar for each device activated in our direct channels. In August 2018, the arrangement was amended and we will receive a share of the profits associated with the sale of accessory inventory owned by Brightstar. For the three- and nine-month periods ended December 31, 2018 and 2017 , Sprint earned fees under these arrangements of $52 million , $149 million , $71 million and $100 million , respectively, which are recognized as other revenue within "Service revenue" in the consolidated statements of comprehensive (loss) income. Amounts included in our consolidated financial statements associated with these supply chain and inventory management arrangements with Brightstar were as follows: Consolidated balance sheets: December 31, March 31, (in millions) Accounts receivable $ 134 $ 188 Accounts payable and accrued expenses and other current liabilities $ 37 $ 88 Three Months Ended Nine Months Ended Consolidated statements of comprehensive (loss) income: December 31, December 31, 2018 2017 2018 2017 (in millions) Equipment sales $ 619 $ 639 $ 1,448 $ 1,432 Cost of equipment sales $ 644 $ 657 $ 1,510 $ 1,465 |
Guarantor Financial Information
Guarantor Financial Information | 9 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Guarantor Financial Information | Guarantor Financial Information On September 11, 2013, Sprint Corporation issued $2.25 billion aggregate principal amount of 7.250% notes due 2021 and $4.25 billion aggregate principal amount of 7.875% notes due 2023 in a private placement transaction with registration rights. On December 12, 2013, Sprint Corporation issued $2.5 billion aggregate principal amount of 7.125% notes due 2024 in a private placement transaction with registration rights. Each of these issuances is fully and unconditionally guaranteed by Sprint Communications (Subsidiary Guarantor), which is a 100% owned subsidiary of Sprint Corporation (Parent/Issuer). In connection with the foregoing, in November 2014, the Company and Sprint Communications completed an offer to exchange the notes for a new issue of substantially identical exchange notes registered under the Securities Act of 1933. We did not receive any proceeds from this exchange offer. In addition, on February 24, 2015, Sprint Corporation issued $1.5 billion aggregate principal amount of 7.625% notes due 2025, and on February 20, 2018, Sprint Corporation issued $1.5 billion aggregate principal amount of 7.625% senior notes due 2026, which are fully and unconditionally guaranteed by Sprint Communications. During the nine-month periods ended December 31, 2018 and 2017 , there were non-cash equity distributions from the non-guarantor subsidiaries to Subsidiary Guarantor of approximately $1.1 billion and non-cash equity contributions from Subsidiary Guarantor to the non-guarantor subsidiaries of $4.7 billion , respectively, as a result of organizational restructuring for tax purposes. As of December 31, 2018 , there were $24.0 billion of intercompany notes issued by the Subsidiary Guarantor to the non-guarantor subsidiaries. The notes are subordinated to all unaffiliated third-party obligations of Sprint Corporation and its subsidiaries. Under the Subsidiary Guarantor's secured revolving bank credit facility, the Subsidiary Guarantor is currently restricted from paying cash dividends to the Parent/Issuer or any non-guarantor subsidiary because the ratio of total indebtedness to adjusted EBITDA (each as defined in the applicable agreement) exceeds 2.5 to 1.0 . Sprint has a Receivables Facility providing for the sale of eligible wireless service, installment and certain future lease receivables. In April 2016, Sprint entered into the Tranche 2 transaction to sell and leaseback certain leased devices and a separate network equipment sale-leaseback transaction to sell and leaseback certain network equipment. In October 2016, Sprint transferred certain directly held and third-party leased spectrum licenses to wholly-owned bankruptcy-remote special purpose entities as part of the spectrum financing transaction. In connection with each of the Receivables Facility, Tranche 2, and the spectrum financing transaction, Sprint formed certain wholly-owned bankruptcy-remote subsidiaries that are included in the non-guarantor subsidiaries' condensed consolidated financial information. In addition, the bankruptcy-remote special purpose entities formed in connection with the network equipment sale-leaseback transaction, but which are not Sprint subsidiaries, are included in the non-guarantor subsidiaries' condensed consolidated financial information. Each of these is a separate legal entity with its own separate creditors who will be entitled, prior to and upon its liquidation, to be satisfied out of its assets prior to any assets becoming available to Sprint (see Note 7. Long-Term Debt, Financing and Capital Lease Obligations). We have accounted for investments in subsidiaries using the equity method. Presented below is the condensed consolidating financial information. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 5,800 $ 391 $ — $ 6,191 Short-term investments — 632 — — 632 Accounts and notes receivable, net 233 477 3,455 (710 ) 3,455 Current portion of notes receivable from consolidated affiliates — 424 — (424 ) — Device and accessory inventory — — 919 — 919 Prepaid expenses and other current assets — 15 1,184 — 1,199 Total current assets 233 7,348 5,949 (1,134 ) 12,396 Investments in subsidiaries 27,983 19,314 — (47,297 ) — Property, plant and equipment, net — — 21,422 — 21,422 Costs to acquire a customer contract — — 1,497 — 1,497 Due from consolidated affiliates 289 1,849 — (2,138 ) — Notes receivable from consolidated affiliates 11,877 23,567 — (35,444 ) — Intangible assets Goodwill — — 6,598 — 6,598 FCC licenses and other — — 41,448 — 41,448 Definite-lived intangible assets, net — — 1,915 — 1,915 Other assets — 70 1,058 — 1,128 Total assets $ 40,382 $ 52,148 $ 79,887 $ (86,013 ) $ 86,404 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ — $ — $ 3,637 $ — $ 3,637 Accrued expenses and other current liabilities 235 349 3,593 (710 ) 3,467 Current portion of long-term debt, financing and capital lease obligations — 351 3,245 — 3,596 Current portion of notes payable to consolidated affiliates — — 424 (424 ) — Total current liabilities 235 700 10,899 (1,134 ) 10,700 Long-term debt, financing and capital lease obligations 11,877 10,837 13,574 — 36,288 Notes payable to consolidated affiliates — 11,877 23,567 (35,444 ) — Deferred tax liabilities — — 7,684 — 7,684 Other liabilities — 751 2,652 — 3,403 Due to consolidated affiliates — — 2,138 (2,138 ) — Total liabilities 12,112 24,165 60,514 (38,716 ) 58,075 Commitments and contingencies Total stockholders' equity 28,270 27,983 19,314 (47,297 ) 28,270 Noncontrolling interests — — 59 — 59 Total equity 28,270 27,983 19,373 (47,297 ) 28,329 Total liabilities and equity $ 40,382 $ 52,148 $ 79,887 $ (86,013 ) $ 86,404 CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 6,222 $ 388 $ — $ 6,610 Short-term investments — 2,354 — — 2,354 Accounts and notes receivable, net 99 248 3,711 (347 ) 3,711 Current portion of notes receivable from consolidated affiliates — 424 — (424 ) — Device and accessory inventory — — 1,003 — 1,003 Prepaid expenses and other current assets 5 9 561 — 575 Total current assets 104 9,257 5,663 (771 ) 14,253 Investments in subsidiaries 26,351 18,785 — (45,136 ) — Property, plant and equipment, net — — 19,925 — 19,925 Due from consolidated affiliates 1 — 594 (595 ) — Notes receivable from consolidated affiliates 11,887 23,991 — (35,878 ) — Intangible assets Goodwill — — 6,586 — 6,586 FCC licenses and other — — 41,309 — 41,309 Definite-lived intangible assets, net — — 2,465 — 2,465 Other assets — 185 736 — 921 Total assets $ 38,343 $ 52,218 $ 77,278 $ (82,380 ) $ 85,459 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ — $ — $ 3,409 $ — $ 3,409 Accrued expenses and other current liabilities 100 341 3,868 (347 ) 3,962 Current portion of long-term debt, financing and capital lease obligations — 1,832 1,597 — 3,429 Current portion of notes payable to consolidated affiliates — — 424 (424 ) — Total current liabilities 100 2,173 9,298 (771 ) 10,800 Long-term debt, financing and capital lease obligations 11,887 10,381 15,195 — 37,463 Notes payable to consolidated affiliates — 11,887 23,991 (35,878 ) — Deferred tax liabilities — — 7,294 — 7,294 Other liabilities — 831 2,652 — 3,483 Due to consolidated affiliates — 595 — (595 ) — Total liabilities 11,987 25,867 58,430 (37,244 ) 59,040 Commitments and contingencies Total stockholders' equity 26,356 26,351 18,785 (45,136 ) 26,356 Noncontrolling interests — — 63 — 63 Total equity 26,356 26,351 18,848 (45,136 ) 26,419 Total liabilities and equity $ 38,343 $ 52,218 $ 77,278 $ (82,380 ) $ 85,459 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME Three Months Ended December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 5,699 $ — $ 5,699 Equipment sales — — 1,589 — 1,589 Equipment rentals — — 1,313 — 1,313 — — 8,601 — 8,601 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 1,648 — 1,648 Cost of equipment sales — — 1,734 — 1,734 Cost of equipment rentals (exclusive of depreciation below) — — 182 — 182 Selling, general and administrative — — 2,003 — 2,003 Depreciation - network and other — — 1,088 — 1,088 Depreciation - equipment rentals — — 1,137 — 1,137 Amortization — — 145 — 145 Other, net — — 185 — 185 — — 8,122 — 8,122 Operating income — — 479 — 479 Other income (expense): Interest income 227 540 175 (904 ) 38 Interest expense (227 ) (609 ) (732 ) 904 (664 ) (Losses) earnings of subsidiaries (141 ) (69 ) — 210 — Other expense, net — (3 ) (3 ) — (6 ) (141 ) (141 ) (560 ) 210 (632 ) (Loss) income before income taxes (141 ) (141 ) (81 ) 210 (153 ) Income tax benefit — — 8 — 8 Net (loss) income (141 ) (141 ) (73 ) 210 (145 ) Less: Net loss attributable to noncontrolling interests — — 4 — 4 Net (loss) income attributable to Sprint Corporation (141 ) (141 ) (69 ) 210 (141 ) Other comprehensive (loss) income (25 ) (25 ) — 25 (25 ) Comprehensive (loss) income $ (166 ) $ (166 ) $ (73 ) $ 235 $ (170 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Three Months Ended December 31, 2017 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 5,930 $ — $ 5,930 Equipment sales — — 1,262 — 1,262 Equipment rentals — — 1,047 — 1,047 — — 8,239 — 8,239 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 1,733 — 1,733 Cost of equipment sales — — 1,673 — 1,673 Cost of equipment rentals (exclusive of depreciation below) — — 123 — 123 Selling, general and administrative — — 2,108 — 2,108 Depreciation - network and other — — 987 — 987 Depreciation - equipment rentals — — 990 — 990 Amortization — — 196 — 196 Other, net — — (298 ) — (298 ) — — 7,512 — 7,512 Operating income — — 727 — 727 Other income (expense): Interest income 198 458 1 (643 ) 14 Interest expense (198 ) (382 ) (644 ) 643 (581 ) Earnings (losses) of subsidiaries 7,162 7,088 — (14,250 ) — Other expense, net — (2 ) (54 ) — (56 ) 7,162 7,162 (697 ) (14,250 ) (623 ) Income (loss) before income taxes 7,162 7,162 30 (14,250 ) 104 Income tax benefit — — 7,052 — 7,052 Net income (loss) 7,162 7,162 7,082 (14,250 ) 7,156 Less: Net loss attributable to noncontrolling interests — — 6 — 6 Net income (loss) attributable to Sprint Corporation 7,162 7,162 7,088 (14,250 ) 7,162 Other comprehensive income (loss) 26 26 6 (32 ) 26 Comprehensive income (loss) $ 7,188 $ 7,188 $ 7,088 $ (14,282 ) $ 7,182 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 17,201 $ — $ 17,201 Equipment sales — — 4,180 — 4,180 Equipment rentals — — 3,778 — 3,778 — — 25,159 — 25,159 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 5,019 — 5,019 Cost of equipment sales — — 4,521 — 4,521 Cost of equipment rentals (exclusive of depreciation below) — — 457 — 457 Selling, general and administrative — — 5,731 — 5,731 Depreciation - network and other — — 3,132 — 3,132 Depreciation - equipment rentals — — 3,454 — 3,454 Amortization — — 475 — 475 Other, net — — 298 — 298 — — 23,087 — 23,087 Operating income — — 2,072 — 2,072 Other income (expense): Interest income 679 1,632 517 (2,699 ) 129 Interest expense (679 ) (1,755 ) (2,199 ) 2,699 (1,934 ) Earnings (losses) of subsidiaries 231 337 — (568 ) — Other income, net — 17 7 — 24 231 231 (1,675 ) (568 ) (1,781 ) Income (loss) before income taxes 231 231 397 (568 ) 291 Income tax expense — — (56 ) — (56 ) Net income (loss) 231 231 341 (568 ) 235 Less: Net income attributable to noncontrolling interests — — (4 ) — (4 ) Net income (loss) attributable to Sprint Corporation 231 231 337 (568 ) 231 Other comprehensive (loss) income (20 ) (20 ) (10 ) 30 (20 ) Comprehensive income (loss) $ 211 $ 211 $ 331 $ (538 ) $ 215 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended December 31, 2017 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 17,968 $ — $ 17,968 Equipment sales — — 3,443 — 3,443 Equipment rentals — — 2,912 — 2,912 — — 24,323 — 24,323 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 5,140 — 5,140 Cost of equipment sales — — 4,622 — 4,622 Cost of equipment rentals (exclusive of depreciation below) — — 347 — 347 Selling, general and administrative — — 6,059 — 6,059 Depreciation - network and other — — 2,961 — 2,961 Depreciation - equipment rentals — — 2,732 — 2,732 Amortization — — 628 — 628 Other, net — (55 ) (602 ) — (657 ) — (55 ) 21,887 — 21,832 Operating income — 55 2,436 — 2,491 Other income (expense): Interest income 593 783 10 (1,320 ) 66 Interest expense (593 ) (1,171 ) (1,345 ) 1,320 (1,789 ) Earnings (losses) of subsidiaries 7,320 7,722 — (15,042 ) — Other expense, net — (69 ) (47 ) — (116 ) 7,320 7,265 (1,382 ) (15,042 ) (1,839 ) Income (loss) before income taxes 7,320 7,320 1,054 (15,042 ) 652 Income tax benefit — — 6,662 — 6,662 Net income (loss) 7,320 7,320 7,716 (15,042 ) 7,314 Less: Net loss attributable to noncontrolling interests — — 6 — 6 Net income (loss) attributable to Sprint Corporation 7,320 7,320 7,722 (15,042 ) 7,320 Other comprehensive income (loss) 38 38 18 (56 ) 38 Comprehensive income (loss) $ 7,358 $ 7,358 $ 7,734 $ (15,098 ) $ 7,352 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Cash flows from operating activities: Net cash (used in) provided by operating activities $ — $ (408 ) $ 7,990 $ — $ 7,582 Cash flows from investing activities: Capital expenditures - network and other — — (3,814 ) — (3,814 ) Capital expenditures - leased devices — — (5,739 ) — (5,739 ) Expenditures relating to FCC licenses — — (145 ) — (145 ) Proceeds from sales and maturities of short-term investments — 6,619 — — 6,619 Purchases of short-term investments — (5,152 ) — — (5,152 ) Change in amounts due from/due to consolidated affiliates (253 ) (1,285 ) — 1,538 — Proceeds from sales of assets and FCC licenses — — 416 — 416 Proceeds from deferred purchase price from sale of receivables — — 223 — 223 Proceeds from corporate owned life insurance policies — 110 — — 110 Proceeds from intercompany note advance to consolidated affiliate — 424 — (424 ) — Other, net — — 52 — 52 Net cash (used in) provided by investing activities (253 ) 716 (9,007 ) 1,114 (7,430 ) Cash flows from financing activities: Proceeds from debt and financings — 1,100 5,316 — 6,416 Repayments of debt, financing and capital lease obligations — (1,783 ) (5,154 ) — (6,937 ) Debt financing costs (28 ) (47 ) (211 ) — (286 ) Proceeds from issuance of common stock, net 281 — — — 281 Change in amounts due from/due to consolidated affiliates — — 1,538 (1,538 ) — Repayments of intercompany note advance from parent — — (424 ) 424 — Net cash provided by (used in) financing activities 253 (730 ) 1,065 (1,114 ) (526 ) Net (decrease) increase in cash, cash equivalents and restricted cash — (422 ) 48 — (374 ) Cash, cash equivalents and restricted cash, beginning of period — 6,222 437 — 6,659 Cash, cash equivalents and restricted cash, end of period $ — $ 5,800 $ 485 $ — $ 6,285 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended December 31, 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 $ — $ (1,016 ) $ 8,425 $ — $ 7,409 Cash flows from investing activities: Capital expenditures - network and other — — (2,539 ) — (2,539 ) Capital expenditures - leased devices — — (5,533 ) — (5,533 ) Expenditures relating to FCC licenses — — (92 ) — (92 ) Proceeds from sales and maturities of short-term investments — 7,113 — — 7,113 Purchases of short-term investments — (1,842 ) — — (1,842 ) Change in amounts due from/due to consolidated affiliates — — 689 (689 ) — Proceeds from sales of assets and FCC licenses — — 367 — 367 Proceeds from deferred purchase price from sale of receivables — — 909 — 909 Proceeds from corporate owned life insurance policies — 2 — — 2 Proceeds from intercompany note advance to consolidated affiliate — 575 — (575 ) — Other, net — — (1 ) — (1 ) Net cash provided by (used in) investing activities — 5,848 (6,200 ) (1,264 ) (1,616 ) Cash flows from financing activities: Proceeds from debt and financings — — 3,073 — 3,073 Repayments of debt, financing and capital lease obligations — (2,530 ) (4,629 ) — (7,159 ) Debt financing costs — (9 ) (10 ) — (19 ) Call premiums paid on debt redemptions — (129 ) — — (129 ) Proceeds from issuance of common stock, net — 12 — — 12 Change in amounts due from/due to consolidated affiliates — (689 ) — 689 — Repayments of intercompany note advance from consolidated affiliate — — (575 ) 575 — Other, net — — (18 ) — (18 ) Net cash (used in) provided by financing activities — (3,345 ) (2,159 ) 1,264 (4,240 ) Net increase in cash, cash equivalents and restricted cash — 1,487 66 — 1,553 Cash, cash equivalents and restricted cash, beginning of period — 2,461 481 — 2,942 Cash, cash equivalents and restricted cash, end of period $ — $ 3,948 $ 547 $ — $ 4,495 |
Additional Financial Informatio
Additional Financial Information | 9 Months Ended |
Dec. 31, 2018 | |
Accounts Payable [Abstract] | |
Additional Financial Information | Additional Financial Information Cash, Cash Equivalents and Restricted Cash The following provides the classifications of cash, cash equivalents and restricted cash in the consolidated balance sheets: December 31, March 31, (in millions) Cash and cash equivalents $ 6,191 $ 6,610 Restricted cash in Other assets (1) 94 49 Cash, cash equivalents and restricted cash $ 6,285 $ 6,659 _________________ (1) Restricted cash in Other assets is required as part of our spectrum financing transactions. Accounts Payable Accounts payable at December 31, 2018 and March 31, 2018 include liabilities in the amounts of $76 million and $66 million , respectively, for payments issued in excess of associated bank balances but not yet presented for collection. |
New Accounting Pronouncements (
New Accounting Pronouncements (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Adjustments for Changes in Accounting Standards Updates | A reconciliation of the adjustments from the adoption of Topic 606 relative to Topic 605 on our consolidated statements of comprehensive (loss) income and balance sheet is as follows: Three Months Ended December 31, 2018 Nine Months Ended December 31, 2018 As reported Balances without adoption of Topic 606 Change As reported Balances without adoption of Change (in millions, except per share amounts) (in millions, except per share amounts) Net operating revenues: Service $ 5,699 $ 5,898 $ (199 ) $ 17,201 $ 17,716 $ (515 ) Equipment sales 1,589 1,264 325 4,180 3,223 957 Equipment rentals 1,313 1,329 (16 ) 3,778 3,827 (49 ) 8,601 8,491 110 25,159 24,766 393 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) 1,648 1,671 (23 ) 5,019 5,073 (54 ) Cost of equipment sales 1,734 1,715 19 4,521 4,431 90 Cost of equipment rentals (exclusive of depreciation below) 182 182 — 457 457 — Selling, general and administrative 2,003 2,145 (142 ) 5,731 6,047 (316 ) Depreciation - network and other 1,088 1,088 — 3,132 3,132 — Depreciation - equipment rentals 1,137 1,137 — 3,454 3,454 — Amortization 145 145 — 475 475 — Other, net 185 185 — 298 298 — 8,122 8,268 (146 ) 23,087 23,367 (280 ) Operating income 479 223 256 2,072 1,399 673 Total other expense (632 ) (632 ) — (1,781 ) (1,781 ) — (Loss) income before income taxes (153 ) (409 ) 256 291 (382 ) 673 Income tax benefit (expense) 8 62 (54 ) (56 ) 85 (141 ) Net (loss) income (145 ) (347 ) 202 235 (297 ) 532 Less: Net loss (income) attributable to noncontrolling interests 4 4 — (4 ) (4 ) — Net (loss) income attributable to Sprint $ (141 ) $ (343 ) $ 202 $ 231 $ (301 ) $ 532 Basic net (loss) income per common share attributable to Sprint $ (0.03 ) $ (0.08 ) $ 0.05 $ 0.06 $ (0.07 ) $ 0.13 Diluted net (loss) income per common share attributable to Sprint $ (0.03 ) $ (0.08 ) $ 0.05 $ 0.06 $ (0.07 ) $ 0.13 Basic weighted average common shares outstanding 4,078 4,078 — 4,050 4,050 — Diluted weighted average common shares outstanding 4,078 4,078 — 4,110 4,050 60 December 31, 2018 As reported Balances without adoption of Topic 606 Change (in millions) ASSETS Current assets: Accounts and notes receivable, net $ 3,455 $ 3,356 $ 99 Device and accessory inventory 919 941 (22 ) Prepaid expenses and other current assets 1,199 672 527 Costs to acquire a customer contract 1,497 — 1,497 Other assets 1,128 939 189 LIABILITIES AND EQUITY Current liabilities: Accrued expenses and other current liabilities $ 3,467 $ 3,489 $ (22 ) Deferred tax liabilities 7,684 7,177 507 Other liabilities 3,403 3,437 (34 ) Stockholders' equity: Retained earnings (accumulated deficit) 291 (1,548 ) 1,839 The cumulative after-tax effect of the changes made to our consolidated balance sheet for the adoption of Topic 606 and other ASUs effective for the Company on April 1, 2018 were as follows: Adjustments due to March 31, 2018 Topic 606 Other ASUs April 1, 2018 (in millions) ASSETS Current assets: Accounts and notes receivable, net $ 3,711 $ 97 $ — $ 3,808 Device and accessory inventory 1,003 (24 ) — 979 Prepaid expenses and other current assets 575 271 — 846 Costs to acquire a customer contract — 1,219 — 1,219 Other assets 921 43 — 964 LIABILITIES AND EQUITY Current liabilities: Accrued expenses and other current liabilities $ 3,962 $ (35 ) $ — $ 3,927 Deferred tax liabilities 7,294 366 — 7,660 Other liabilities 3,483 (32 ) — 3,451 Stockholders' equity: (Accumulated deficit) retained earnings (1,255 ) 1,307 8 60 Accumulated other comprehensive loss (313 ) — (8 ) (321 ) |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of carrying amount and estimated fair values of our exchangeable notes as well as current and long-term debt | The following table presents carrying amounts and estimated fair values of current and long-term debt and financing obligations: Carrying amount at December 31, 2018 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt and financing obligations $ 40,125 $ 35,756 $ — $ 4,570 $ 40,326 Carrying amount at March 31, 2018 Estimated Fair Value Using Input Type Quoted prices in active markets Observable Unobservable Total estimated fair value (in millions) Current and long-term debt and financing obligations $ 40,820 $ 37,549 $ — $ 3,737 $ 41,286 |
Installment Receivables (Tables
Installment Receivables (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Summary of Installment Receivables | The following table summarizes the installment receivables: December 31, March 31, (in millions) Installment receivables, gross $ 1,151 $ 1,472 Deferred interest (62 ) (106 ) Installment receivables, net of deferred interest 1,089 1,366 Allowance for credit losses (195 ) (217 ) Installment receivables, net $ 894 $ 1,149 Classified in the consolidated balance sheets as: Accounts and notes receivable, net $ 675 $ 995 Other assets 219 154 Installment receivables, net $ 894 $ 1,149 |
Balance and Aging of Financing Receivables by Credit Category | The balance and aging of installment receivables on a gross basis by credit category were as follows: December 31, 2018 March 31, 2018 Prime Subprime Total Prime Subprime Total (in millions) (in millions) Unbilled $ 661 $ 396 $ 1,057 $ 951 $ 391 $ 1,342 Billed - current 48 23 71 69 29 98 Billed - past due 12 11 23 17 15 32 Installment receivables, gross $ 721 $ 430 $ 1,151 $ 1,037 $ 435 $ 1,472 |
Schedule of Activity in the Deferred Interest Allowance for Credit Losses | Activity in the deferred interest and allowance for credit losses for the installment receivables was as follows: Nine Months Ended Twelve Months Ended December 31, 2018 March 31, 2018 (in millions) Deferred interest and allowance for credit losses, beginning of period $ 323 $ 506 Adjustment to deferred interest on short- and long-term installment receivables due to Topic 606 (50 ) — Bad debt expense 66 142 Write-offs, net of recoveries (88 ) (224 ) Change in deferred interest on short- and long-term installment receivables 6 (101 ) Deferred interest and allowance for credit losses, end of period $ 257 $ 323 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Indefinite-Lived Intangible Assets | The following provides the activity of indefinite-lived intangible assets within the consolidated balance sheets: March 31, Net Additions December 31, (in millions) FCC licenses $ 37,274 $ 139 $ 37,413 Trademarks 4,035 — 4,035 Goodwill (1) 6,586 12 6,598 $ 47,895 $ 151 $ 48,046 _________________ (1) Through December 31, 2018 , there is no accumulated impairment losses for goodwill. |
Intangible Assets Subject to Amortization | December 31, 2018 March 31, 2018 Useful Lives Gross Accumulated Net Gross Accumulated Net (in millions) Customer relationships 5 to 8 years $ 6,563 $ (5,906 ) $ 657 $ 6,562 $ (5,462 ) $ 1,100 Other intangible assets: Favorable spectrum leases 23 years 764 (142 ) 622 856 (172 ) 684 Favorable tower leases 9 years 335 (207 ) 128 335 (179 ) 156 Trademarks 2 to 34 years 520 (86 ) 434 520 (74 ) 446 Other 5 to 10 years 135 (61 ) 74 129 (50 ) 79 Total other intangible assets 1,754 (496 ) 1,258 1,840 (475 ) 1,365 Total definite-lived intangible assets $ 8,317 $ (6,402 ) $ 1,915 $ 8,402 $ (5,937 ) $ 2,465 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | The following table presents the components of property, plant and equipment and the related accumulated depreciation: December 31, March 31, (in millions) Land $ 247 $ 254 Network equipment, site costs and related software 24,015 22,930 Buildings and improvements 833 813 Leased devices, non-network internal use software, office equipment and other 12,612 11,149 Construction in progress 3,520 2,202 Less: accumulated depreciation (19,805 ) (17,423 ) Property, plant and equipment, net $ 21,422 $ 19,925 |
Leased devices [Member] | |
Property, Plant and Equipment [Line Items] | |
Schedule of Property, Plant and Equipment | The following table presents leased devices and the related accumulated depreciation: December 31, March 31, (in millions) Leased devices $ 10,987 $ 9,592 Less: accumulated depreciation (4,304 ) (3,580 ) Leased devices, net $ 6,683 $ 6,012 |
Long-Term Debt, Financing and_2
Long-Term Debt, Financing and Capital Lease Obligations (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Long-term Debt and Capital Lease Obligations [Abstract] | |
Schedule of Long-term Debt Instruments | Interest Rates Maturities December 31, March 31, (in millions) Notes Senior notes Sprint Corporation 7.13 - 7.88% 2021 - 2026 $ 12,000 $ 12,000 Sprint Communications, Inc. 6.00 - 11.50% 2020 - 2022 4,780 4,980 Sprint Capital Corporation 6.88 - 8.75% 2019 - 2032 6,204 6,204 Senior secured notes Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC 3.36 - 5.15% 2021 - 2028 6,344 7,000 Guaranteed notes Sprint Communications, Inc. 7.00 2020 1,000 2,753 Credit facilities Secured revolving bank credit facility 4.81% 2021 — — Secured term loans 5.06% - 5.56% 2024 5,030 3,960 PRWireless term loan 8.05% 2020 187 182 Export Development Canada (EDC) 4.77% 2019 300 300 Secured equipment credit facilities 4.02 - 4.85% 2020 - 2022 515 527 Accounts receivable facility 3.60 - 3.81% 2020 3,324 2,411 Financing obligations, capital lease and other obligations 2.35 - 12.00% 2019 - 2026 588 686 Net premiums and debt financing costs (388 ) (111 ) 39,884 40,892 Less current portion (3,596 ) (3,429 ) Long-term debt, financing and capital lease obligations $ 36,288 $ 37,463 |
Revenues from Contracts with _2
Revenues from Contracts with Customers (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregated Reported Revenue | The following table presents disaggregated reported revenue by category: Three Months Ended Nine Months Ended December 31, 2018 December 31, 2018 (in millions) Service revenue Postpaid $ 4,236 $ 12,679 Prepaid 924 2,860 Wholesale, affiliate and other 294 881 Wireline 245 781 Total service revenue 5,699 17,201 Equipment sales 1,589 4,180 Equipment rentals 1,313 3,778 Total revenue $ 8,601 $ 25,159 |
Schedule of Contract Assets and Contract Liabilities | The following table presents the opening and closing balances of our contract assets, contract liabilities, and receivables balances, as well as capitalized costs associated with contracts with customers: December 31, April 1, 2018 2018 (in millions) Contract assets and liabilities Contract assets (1) $ 806 $ 432 Billed trade receivables 2,591 2,559 Unbilled trade receivables 918 1,250 Contract liabilities (2) 1,011 1,104 Other related assets and liabilities Other related assets: Capitalized costs to acquire a customer contract: Sales commissions - opening balance $ 1,219 Sales commissions - additions 874 Amortization of capitalized sales commissions (596 ) Net costs to acquire a customer contract $ 1,497 (1) The fluctuation correlates directly to the execution of new customer contracts and invoicing and collections from customers in the normal course of business. (2) Revenue recognized during the nine-month period ended December 31, 2018 , which was included within the beginning contract liability balance, amounts to $986 million . |
Schedule of Remaining Performance Obligations | The aggregate amount of total transaction price allocated to performance obligations in contracts existing as of the balance sheet date, which are wholly or partially unsatisfied as of the end of the reporting period, and the expected time frame for satisfaction of those wholly or partially unsatisfied performance obligations, are as follows (in millions): Remainder of year ending March 31, 2019 $ 2,898 Year ending March 31, 2020 6,558 Thereafter 319 Total $ 9,775 |
Severance and Exit Costs (Table
Severance and Exit Costs (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Activity in the Severance and Exit Costs Liability | The following provides the activity in the severance and exit costs liability included in "Accounts payable," "Accrued expenses and other current liabilities" and "Other liabilities" within the consolidated balance sheets. The net expenses are included in "Other, net" within the consolidated statements of comprehensive (loss) income: March 31, Net Expense Cash Payments and Other December 31, (in millions) Lease exit costs $ 165 $ 23 (1) $ (43 ) $ 145 Severance costs 64 22 (2) (74 ) 12 Access exit costs 19 18 (3) (13 ) 24 $ 248 $ 63 $ (130 ) $ 181 _________________ (1) For the nine-month period ended December 31, 2018 , we recognized costs of $23 million (Wireless only). (2) For the nine-month period ended December 31, 2018 , we recognized costs of $22 million ( $15 million Wireless, $7 million Wireline). (3) For the nine-month period ended December 31, 2018 , we recognized costs of $18 million ( $7 million Wireless , $11 million Wireline) as "Severance and exit costs." |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Factors Causing Variation in Effective Tax Rate From US Federal Statutory Rate | The differences that caused our effective income tax rates to differ from the U.S. federal statutory rates for the nine-month periods ended December 31, 2018 and 2017 , respectively, were as follows: Nine Months Ended 2018 2017 (in millions) Income tax expense at the federal statutory rate $ (61 ) $ (205 ) Effect of: State income taxes, net of federal income tax effect (40 ) (57 ) State law changes, net of federal income tax effect 62 (28 ) Increase deferred tax liability for organizational restructuring (12 ) — Increase deferred tax liability for business activity changes — (69 ) Credit for increasing research activities 13 11 Change in federal and state valuation allowance 12 (64 ) Increase in liability for unrecognized tax benefits (6 ) (20 ) Tax benefit from the Tax Act — 7,090 Non-deductible penalties (29 ) — Other, net 5 4 Income tax (expense) benefit $ (56 ) $ 6,662 Effective income tax rate 19.2 % (1,021.8 )% |
Per Share Data Per Share Data (
Per Share Data Per Share Data (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The computation of basic and diluted net (loss) income per common share attributable to Sprint was as follows: Three Months Ended Nine Months Ended December 31, December 31, 2018 2017 2018 2017 (in millions, except per share amounts) Net (loss) income $ (145 ) $ 7,156 $ 235 $ 7,314 Less: Net loss (income) attributable to noncontrolling interests 4 6 (4 ) 6 Net (loss) income attributable to Sprint $ (141 ) $ 7,162 $ 231 $ 7,320 Basic weighted average common shares outstanding 4,078 4,001 4,050 3,998 Effect of dilutive securities: Options and restricted stock units — 47 56 61 Warrants (1) — 13 4 21 Diluted weighted average common shares outstanding 4,078 4,061 4,110 4,080 Basic net (loss) income per common share attributable to Sprint $ (0.03 ) $ 1.79 $ 0.06 $ 1.83 Diluted net (loss) income per common share attributable to Sprint $ (0.03 ) $ 1.76 $ 0.06 $ 1.79 Potentially dilutive securities: Outstanding stock options (2) 96 6 6 6 _________________ (1) For the nine-month period ended December 31, 2018, dilutive securities attributable to warrants include 1 million shares issuable under the warrant held by SoftBank. For the three- and nine-month periods ended December 31, 2017 , dilutive securities attributable to warrants include 9 million and 17 million shares, respectively, issuable under the warrant held by SoftBank. At the close of the merger with SoftBank, the warrant was issued at $5.25 per share. On July 10, 2018, SoftBank exercised its warrant in full to purchase 55 million shares of Sprint common stock for $287 million . (2) Potentially dilutive securities were not included in the computation of diluted net (loss) income per common share if to do so would have been antidilutive. |
Segments (Tables)
Segments (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Statement of Operations Information | Segment financial information is as follows: Statement of Operations Information Wireless Wireline Corporate, Consolidated (in millions) Three Months Ended December 31, 2018 Net operating revenues $ 8,351 $ 245 $ 5 $ 8,601 Inter-segment revenues (1) — 71 (71 ) — Total segment operating expenses (2) (5,240 ) (332 ) 72 (5,500 ) Segment earnings (loss) $ 3,111 $ (16 ) $ 6 3,101 Less: Depreciation - network and other (1,088 ) Depreciation - equipment rentals (1,137 ) Amortization (145 ) Merger costs (3) (67 ) Other, net (4) (185 ) Operating income 479 Interest expense (664 ) Other income, net 32 Loss before income taxes $ (153 ) Statement of Operations Information Wireless including hurricane and other Wireless hurricane and other Wireless excluding hurricane and other Wireline Corporate, Consolidated (in millions) Three Months Ended December 31, 2017 Net operating revenues (2) $ 7,928 $ 21 $ 7,949 $ 307 $ 4 $ 8,260 Inter-segment revenues (1) — — — 86 (86 ) — Total segment operating expenses (2) (5,286 ) 96 (5,190 ) (423 ) 72 (5,541 ) Segment earnings (loss) $ 2,642 $ 117 $ 2,759 $ (30 ) $ (10 ) 2,719 Less: Depreciation - network and other (987 ) Depreciation - equipment rentals (990 ) Amortization (196 ) Hurricane-related costs (2) (66 ) Other, net (4) 247 Operating income 727 Interest expense (581 ) Other expense, net (42 ) Income before income taxes $ 104 Statement of Operations Information Wireless including hurricane Wireless hurricane Wireless excluding hurricane Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2018 Net operating revenues (2) $ 24,365 $ (3 ) $ 24,362 $ 781 $ 13 $ 25,156 Inter-segment revenues (1) — — — 201 (201 ) — Total segment operating expenses (2) (14,650 ) (7 ) (14,657 ) (1,060 ) 198 (15,519 ) Segment earnings (loss) $ 9,715 $ (10 ) $ 9,705 $ (78 ) $ 10 9,637 Less: Depreciation - network and other (3,132 ) Depreciation - equipment rentals (3,454 ) Amortization (475 ) Hurricane-related reimbursements (2) 32 Merger costs (3) (216 ) Other, net (4) (320 ) Operating income 2,072 Interest expense (1,934 ) Other income, net 153 Income before income taxes $ 291 Statement of Operations Information Wireless including hurricane and other Wireless hurricane and other Wireless excluding hurricane and other Wireline Corporate, Consolidated (in millions) Nine Months Ended December 31, 2017 Net operating revenues (2) $ 23,347 $ 33 $ 23,380 $ 963 $ 13 $ 24,356 Inter-segment revenues (1) — — — 272 (272 ) — Total segment operating expenses (2) (15,109 ) 118 (14,991 ) (1,305 ) 241 (16,055 ) Segment earnings (loss) $ 8,238 $ 151 $ 8,389 $ (70 ) $ (18 ) 8,301 Less: Depreciation - network and other (2,961 ) Depreciation - equipment rentals (2,732 ) Amortization (628 ) Hurricane-related costs (2) (100 ) Other, net (4) 611 Operating income 2,491 Interest expense (1,789 ) Other expense, net (50 ) Income before income taxes $ 652 Other Information Wireless Wireline Corporate and Consolidated (in millions) Capital expenditures for the nine months ended December 31, 2018 $ 9,101 $ 170 $ 282 $ 9,553 Capital expenditures for the nine months ended December 31, 2017 $ 7,612 $ 132 $ 328 $ 8,072 _________________ (1) Inter-segment revenues consist primarily of wireline services provided to the Wireless segment for resale to, or use by, wireless subscribers. (2) The nine-month period ended December 31, 2018 includes $32 million of hurricane-related reimbursements, which are classified in our consolidated statements of comprehensive (loss) income as follows: $3 million as revenue in net operating revenues, $6 million as cost of services, $1 million as selling, general and administrative expenses and $22 million as other, net, all within the Wireless segment. The three- and nine-month periods ended December 31, 2017 includes $66 million and $100 million , respectively, of hurricane-related costs, which are classified in our consolidated statements of comprehensive (loss) income as follows: $21 million and $33 million , respectively, as contra-revenue in net operating revenues, $30 million and $45 million , respectively, as cost of services, $15 million and $17 million , respectively, as selling, general and administrative expenses and $5 million in the nine-month period only as other, net, all within the Wireless segment. In addition, the three- and nine-month periods ended December 31, 2017 includes a $51 million charge related to a regulatory fee matter, which is classified as cost of services in our consolidated statements of comprehensive (loss) income. (3) The three- and nine-month periods ended December 31, 2018 includes $67 million and $216 million , respectively, of merger-related costs, which were recorded as selling, general and administrative expenses in the consolidated statements of comprehensive (loss) income. (4) Other, net for the three- and nine-month periods ended December 31, 2018 includes $30 million and $63 million , respectively, of severance and exit costs primarily due to lease exit costs, reductions in work force and access termination charges. The three- and nine-month periods ended December 31, 2018 includes $117 million and $185 million , respectively, of loss on disposal of property, plant and equipment primarily related to cell site construction costs and other network costs that are no longer recoverable as a result of changes in our network plans . In addition, the three- and nine-month periods ended December 31, 2018 include a $12 million gain from the sale of certain assets and $50 million in litigation expense related to tax matters settled with the State of New York. The nine-month period ended December 31, 2018 includes $34 million associated with the purchase of certain leased spectrum assets, which upon termination of the related spectrum leases resulted in the accelerated recognition of the unamortized favorable lease balances. Other, net for the three- and nine-month periods ended December 31, 2017 includes $13 million of severance and exit costs in both periods and net reductions of $260 million and $315 million , respectively, primarily associated with legal settlements or favorable developments in pending legal proceeding. The nine-month period ended December 31, 2017 includes a $175 million net loss on disposal of property, plant and equipment, which consisted of a $181 million loss related to cell site construction costs that are no longer recoverable as a result of changes in our network plans, slightly offset by a $6 million gain. In addition, the nine-month period ended December 31, 2017 includes a $479 million non-cash gain related to spectrum license exchanges with other carriers and a $5 million reversal of previously accrued contract termination costs primarily related to the termination of our relationship with General Wireless Operations Inc. (Radio Shack). |
Operating Revenues by Service and Products | Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2018 Service revenue $ 5,160 $ 297 $ (71 ) $ 5,386 Wireless equipment sales 1,589 — — 1,589 Wireless equipment rentals 1,313 — — 1,313 Other 289 19 5 313 Total net operating revenues $ 8,351 $ 316 $ (66 ) $ 8,601 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Three Months Ended December 31, 2017 Service revenue (2) $ 5,311 $ 377 $ (88 ) $ 5,600 Wireless equipment sales 1,262 — — 1,262 Wireless equipment rentals 1,047 — — 1,047 Other 329 16 6 351 Total net operating revenues $ 7,949 $ 393 $ (82 ) $ 8,260 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2018 Service revenue (2) $ 15,536 $ 914 $ (201 ) $ 16,249 Wireless equipment sales 4,180 — — 4,180 Wireless equipment rentals 3,778 — — 3,778 Other 868 68 13 949 Total net operating revenues $ 24,362 $ 982 $ (188 ) $ 25,156 Operating Revenues by Service and Products Wireless Wireline Corporate, Other and Eliminations (1) Consolidated (in millions) Nine Months Ended December 31, 2017 Service revenue (2) $ 16,141 $ 1,188 $ (273 ) $ 17,056 Wireless equipment sales 3,443 — — 3,443 Wireless equipment rentals 2,912 — — 2,912 Other 884 47 14 945 Total net operating revenues $ 23,380 $ 1,235 $ (259 ) $ 24,356 _______________ (1) Revenues eliminated in consolidation consist primarily of wireline services provided to the Wireless segment for resale to or use by wireless subscribers. (2) Service revenue related to the Wireless segment in the nine-month period ended December 31, 2018 excludes $3 million of hurricane-related revenue reimbursements reflected in net operating revenues in our consolidated statements of comprehensive (loss) income. Service revenue related to the Wireless segment in the three- and nine-month periods ended December 31, 2017 excludes $21 million and $33 million , respectively, of hurricane-related contra-revenue costs reflected in net operating revenues in our consolidated statements of comprehensive (loss) income. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Brightstar [Member] | |
Related Party Transaction [Line Items] | |
Schedule of Amounts Included in Consolidated Financial Statements | Amounts included in our consolidated financial statements associated with these supply chain and inventory management arrangements with Brightstar were as follows: Consolidated balance sheets: December 31, March 31, (in millions) Accounts receivable $ 134 $ 188 Accounts payable and accrued expenses and other current liabilities $ 37 $ 88 Three Months Ended Nine Months Ended Consolidated statements of comprehensive (loss) income: December 31, December 31, 2018 2017 2018 2017 (in millions) Equipment sales $ 619 $ 639 $ 1,448 $ 1,432 Cost of equipment sales $ 644 $ 657 $ 1,510 $ 1,465 |
Guarantor Financial Informati_2
Guarantor Financial Information (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 5,800 $ 391 $ — $ 6,191 Short-term investments — 632 — — 632 Accounts and notes receivable, net 233 477 3,455 (710 ) 3,455 Current portion of notes receivable from consolidated affiliates — 424 — (424 ) — Device and accessory inventory — — 919 — 919 Prepaid expenses and other current assets — 15 1,184 — 1,199 Total current assets 233 7,348 5,949 (1,134 ) 12,396 Investments in subsidiaries 27,983 19,314 — (47,297 ) — Property, plant and equipment, net — — 21,422 — 21,422 Costs to acquire a customer contract — — 1,497 — 1,497 Due from consolidated affiliates 289 1,849 — (2,138 ) — Notes receivable from consolidated affiliates 11,877 23,567 — (35,444 ) — Intangible assets Goodwill — — 6,598 — 6,598 FCC licenses and other — — 41,448 — 41,448 Definite-lived intangible assets, net — — 1,915 — 1,915 Other assets — 70 1,058 — 1,128 Total assets $ 40,382 $ 52,148 $ 79,887 $ (86,013 ) $ 86,404 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ — $ — $ 3,637 $ — $ 3,637 Accrued expenses and other current liabilities 235 349 3,593 (710 ) 3,467 Current portion of long-term debt, financing and capital lease obligations — 351 3,245 — 3,596 Current portion of notes payable to consolidated affiliates — — 424 (424 ) — Total current liabilities 235 700 10,899 (1,134 ) 10,700 Long-term debt, financing and capital lease obligations 11,877 10,837 13,574 — 36,288 Notes payable to consolidated affiliates — 11,877 23,567 (35,444 ) — Deferred tax liabilities — — 7,684 — 7,684 Other liabilities — 751 2,652 — 3,403 Due to consolidated affiliates — — 2,138 (2,138 ) — Total liabilities 12,112 24,165 60,514 (38,716 ) 58,075 Commitments and contingencies Total stockholders' equity 28,270 27,983 19,314 (47,297 ) 28,270 Noncontrolling interests — — 59 — 59 Total equity 28,270 27,983 19,373 (47,297 ) 28,329 Total liabilities and equity $ 40,382 $ 52,148 $ 79,887 $ (86,013 ) $ 86,404 CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ — $ 6,222 $ 388 $ — $ 6,610 Short-term investments — 2,354 — — 2,354 Accounts and notes receivable, net 99 248 3,711 (347 ) 3,711 Current portion of notes receivable from consolidated affiliates — 424 — (424 ) — Device and accessory inventory — — 1,003 — 1,003 Prepaid expenses and other current assets 5 9 561 — 575 Total current assets 104 9,257 5,663 (771 ) 14,253 Investments in subsidiaries 26,351 18,785 — (45,136 ) — Property, plant and equipment, net — — 19,925 — 19,925 Due from consolidated affiliates 1 — 594 (595 ) — Notes receivable from consolidated affiliates 11,887 23,991 — (35,878 ) — Intangible assets Goodwill — — 6,586 — 6,586 FCC licenses and other — — 41,309 — 41,309 Definite-lived intangible assets, net — — 2,465 — 2,465 Other assets — 185 736 — 921 Total assets $ 38,343 $ 52,218 $ 77,278 $ (82,380 ) $ 85,459 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ — $ — $ 3,409 $ — $ 3,409 Accrued expenses and other current liabilities 100 341 3,868 (347 ) 3,962 Current portion of long-term debt, financing and capital lease obligations — 1,832 1,597 — 3,429 Current portion of notes payable to consolidated affiliates — — 424 (424 ) — Total current liabilities 100 2,173 9,298 (771 ) 10,800 Long-term debt, financing and capital lease obligations 11,887 10,381 15,195 — 37,463 Notes payable to consolidated affiliates — 11,887 23,991 (35,878 ) — Deferred tax liabilities — — 7,294 — 7,294 Other liabilities — 831 2,652 — 3,483 Due to consolidated affiliates — 595 — (595 ) — Total liabilities 11,987 25,867 58,430 (37,244 ) 59,040 Commitments and contingencies Total stockholders' equity 26,356 26,351 18,785 (45,136 ) 26,356 Noncontrolling interests — — 63 — 63 Total equity 26,356 26,351 18,848 (45,136 ) 26,419 Total liabilities and equity $ 38,343 $ 52,218 $ 77,278 $ (82,380 ) $ 85,459 |
Condensed Income Statement | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME Three Months Ended December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 5,699 $ — $ 5,699 Equipment sales — — 1,589 — 1,589 Equipment rentals — — 1,313 — 1,313 — — 8,601 — 8,601 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 1,648 — 1,648 Cost of equipment sales — — 1,734 — 1,734 Cost of equipment rentals (exclusive of depreciation below) — — 182 — 182 Selling, general and administrative — — 2,003 — 2,003 Depreciation - network and other — — 1,088 — 1,088 Depreciation - equipment rentals — — 1,137 — 1,137 Amortization — — 145 — 145 Other, net — — 185 — 185 — — 8,122 — 8,122 Operating income — — 479 — 479 Other income (expense): Interest income 227 540 175 (904 ) 38 Interest expense (227 ) (609 ) (732 ) 904 (664 ) (Losses) earnings of subsidiaries (141 ) (69 ) — 210 — Other expense, net — (3 ) (3 ) — (6 ) (141 ) (141 ) (560 ) 210 (632 ) (Loss) income before income taxes (141 ) (141 ) (81 ) 210 (153 ) Income tax benefit — — 8 — 8 Net (loss) income (141 ) (141 ) (73 ) 210 (145 ) Less: Net loss attributable to noncontrolling interests — — 4 — 4 Net (loss) income attributable to Sprint Corporation (141 ) (141 ) (69 ) 210 (141 ) Other comprehensive (loss) income (25 ) (25 ) — 25 (25 ) Comprehensive (loss) income $ (166 ) $ (166 ) $ (73 ) $ 235 $ (170 ) CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Three Months Ended December 31, 2017 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 5,930 $ — $ 5,930 Equipment sales — — 1,262 — 1,262 Equipment rentals — — 1,047 — 1,047 — — 8,239 — 8,239 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 1,733 — 1,733 Cost of equipment sales — — 1,673 — 1,673 Cost of equipment rentals (exclusive of depreciation below) — — 123 — 123 Selling, general and administrative — — 2,108 — 2,108 Depreciation - network and other — — 987 — 987 Depreciation - equipment rentals — — 990 — 990 Amortization — — 196 — 196 Other, net — — (298 ) — (298 ) — — 7,512 — 7,512 Operating income — — 727 — 727 Other income (expense): Interest income 198 458 1 (643 ) 14 Interest expense (198 ) (382 ) (644 ) 643 (581 ) Earnings (losses) of subsidiaries 7,162 7,088 — (14,250 ) — Other expense, net — (2 ) (54 ) — (56 ) 7,162 7,162 (697 ) (14,250 ) (623 ) Income (loss) before income taxes 7,162 7,162 30 (14,250 ) 104 Income tax benefit — — 7,052 — 7,052 Net income (loss) 7,162 7,162 7,082 (14,250 ) 7,156 Less: Net loss attributable to noncontrolling interests — — 6 — 6 Net income (loss) attributable to Sprint Corporation 7,162 7,162 7,088 (14,250 ) 7,162 Other comprehensive income (loss) 26 26 6 (32 ) 26 Comprehensive income (loss) $ 7,188 $ 7,188 $ 7,088 $ (14,282 ) $ 7,182 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 17,201 $ — $ 17,201 Equipment sales — — 4,180 — 4,180 Equipment rentals — — 3,778 — 3,778 — — 25,159 — 25,159 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 5,019 — 5,019 Cost of equipment sales — — 4,521 — 4,521 Cost of equipment rentals (exclusive of depreciation below) — — 457 — 457 Selling, general and administrative — — 5,731 — 5,731 Depreciation - network and other — — 3,132 — 3,132 Depreciation - equipment rentals — — 3,454 — 3,454 Amortization — — 475 — 475 Other, net — — 298 — 298 — — 23,087 — 23,087 Operating income — — 2,072 — 2,072 Other income (expense): Interest income 679 1,632 517 (2,699 ) 129 Interest expense (679 ) (1,755 ) (2,199 ) 2,699 (1,934 ) Earnings (losses) of subsidiaries 231 337 — (568 ) — Other income, net — 17 7 — 24 231 231 (1,675 ) (568 ) (1,781 ) Income (loss) before income taxes 231 231 397 (568 ) 291 Income tax expense — — (56 ) — (56 ) Net income (loss) 231 231 341 (568 ) 235 Less: Net income attributable to noncontrolling interests — — (4 ) — (4 ) Net income (loss) attributable to Sprint Corporation 231 231 337 (568 ) 231 Other comprehensive (loss) income (20 ) (20 ) (10 ) 30 (20 ) Comprehensive income (loss) $ 211 $ 211 $ 331 $ (538 ) $ 215 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) Nine Months Ended December 31, 2017 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Net operating revenues: Service $ — $ — $ 17,968 $ — $ 17,968 Equipment sales — — 3,443 — 3,443 Equipment rentals — — 2,912 — 2,912 — — 24,323 — 24,323 Net operating expenses: Cost of services (exclusive of depreciation and amortization included below) — — 5,140 — 5,140 Cost of equipment sales — — 4,622 — 4,622 Cost of equipment rentals (exclusive of depreciation below) — — 347 — 347 Selling, general and administrative — — 6,059 — 6,059 Depreciation - network and other — — 2,961 — 2,961 Depreciation - equipment rentals — — 2,732 — 2,732 Amortization — — 628 — 628 Other, net — (55 ) (602 ) — (657 ) — (55 ) 21,887 — 21,832 Operating income — 55 2,436 — 2,491 Other income (expense): Interest income 593 783 10 (1,320 ) 66 Interest expense (593 ) (1,171 ) (1,345 ) 1,320 (1,789 ) Earnings (losses) of subsidiaries 7,320 7,722 — (15,042 ) — Other expense, net — (69 ) (47 ) — (116 ) 7,320 7,265 (1,382 ) (15,042 ) (1,839 ) Income (loss) before income taxes 7,320 7,320 1,054 (15,042 ) 652 Income tax benefit — — 6,662 — 6,662 Net income (loss) 7,320 7,320 7,716 (15,042 ) 7,314 Less: Net loss attributable to noncontrolling interests — — 6 — 6 Net income (loss) attributable to Sprint Corporation 7,320 7,320 7,722 (15,042 ) 7,320 Other comprehensive income (loss) 38 38 18 (56 ) 38 Comprehensive income (loss) $ 7,358 $ 7,358 $ 7,734 $ (15,098 ) $ 7,352 |
Condensed Cash Flow Statement | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended December 31, 2018 Parent/Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Eliminations Consolidated (in millions) Cash flows from operating activities: Net cash (used in) provided by operating activities $ — $ (408 ) $ 7,990 $ — $ 7,582 Cash flows from investing activities: Capital expenditures - network and other — — (3,814 ) — (3,814 ) Capital expenditures - leased devices — — (5,739 ) — (5,739 ) Expenditures relating to FCC licenses — — (145 ) — (145 ) Proceeds from sales and maturities of short-term investments — 6,619 — — 6,619 Purchases of short-term investments — (5,152 ) — — (5,152 ) Change in amounts due from/due to consolidated affiliates (253 ) (1,285 ) — 1,538 — Proceeds from sales of assets and FCC licenses — — 416 — 416 Proceeds from deferred purchase price from sale of receivables — — 223 — 223 Proceeds from corporate owned life insurance policies — 110 — — 110 Proceeds from intercompany note advance to consolidated affiliate — 424 — (424 ) — Other, net — — 52 — 52 Net cash (used in) provided by investing activities (253 ) 716 (9,007 ) 1,114 (7,430 ) Cash flows from financing activities: Proceeds from debt and financings — 1,100 5,316 — 6,416 Repayments of debt, financing and capital lease obligations — (1,783 ) (5,154 ) — (6,937 ) Debt financing costs (28 ) (47 ) (211 ) — (286 ) Proceeds from issuance of common stock, net 281 — — — 281 Change in amounts due from/due to consolidated affiliates — — 1,538 (1,538 ) — Repayments of intercompany note advance from parent — — (424 ) 424 — Net cash provided by (used in) financing activities 253 (730 ) 1,065 (1,114 ) (526 ) Net (decrease) increase in cash, cash equivalents and restricted cash — (422 ) 48 — (374 ) Cash, cash equivalents and restricted cash, beginning of period — 6,222 437 — 6,659 Cash, cash equivalents and restricted cash, end of period $ — $ 5,800 $ 485 $ — $ 6,285 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended December 31, 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 $ — $ (1,016 ) $ 8,425 $ — $ 7,409 Cash flows from investing activities: Capital expenditures - network and other — — (2,539 ) — (2,539 ) Capital expenditures - leased devices — — (5,533 ) — (5,533 ) Expenditures relating to FCC licenses — — (92 ) — (92 ) Proceeds from sales and maturities of short-term investments — 7,113 — — 7,113 Purchases of short-term investments — (1,842 ) — — (1,842 ) Change in amounts due from/due to consolidated affiliates — — 689 (689 ) — Proceeds from sales of assets and FCC licenses — — 367 — 367 Proceeds from deferred purchase price from sale of receivables — — 909 — 909 Proceeds from corporate owned life insurance policies — 2 — — 2 Proceeds from intercompany note advance to consolidated affiliate — 575 — (575 ) — Other, net — — (1 ) — (1 ) Net cash provided by (used in) investing activities — 5,848 (6,200 ) (1,264 ) (1,616 ) Cash flows from financing activities: Proceeds from debt and financings — — 3,073 — 3,073 Repayments of debt, financing and capital lease obligations — (2,530 ) (4,629 ) — (7,159 ) Debt financing costs — (9 ) (10 ) — (19 ) Call premiums paid on debt redemptions — (129 ) — — (129 ) Proceeds from issuance of common stock, net — 12 — — 12 Change in amounts due from/due to consolidated affiliates — (689 ) — 689 — Repayments of intercompany note advance from consolidated affiliate — — (575 ) 575 — Other, net — — (18 ) — (18 ) Net cash (used in) provided by financing activities — (3,345 ) (2,159 ) 1,264 (4,240 ) Net increase in cash, cash equivalents and restricted cash — 1,487 66 — 1,553 Cash, cash equivalents and restricted cash, beginning of period — 2,461 481 — 2,942 Cash, cash equivalents and restricted cash, end of period $ — $ 3,948 $ 547 $ — $ 4,495 |
Additional Financial Informat_2
Additional Financial Information (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Accounts Payable [Abstract] | |
Schedule of Cash, Cash Equivalents and Restricted Cash | The following provides the classifications of cash, cash equivalents and restricted cash in the consolidated balance sheets: December 31, March 31, (in millions) Cash and cash equivalents $ 6,191 $ 6,610 Restricted cash in Other assets (1) 94 49 Cash, cash equivalents and restricted cash $ 6,285 $ 6,659 _________________ (1) Restricted cash in Other assets is required as part of our spectrum financing transactions. |
Basis of Presentation and Oth_2
Basis of Presentation and Other Information Reclassification of prior period amounts (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Reclassification of prior period amounts [Line Items] | ||||||
Revenue, equipment rentals, net | $ 1,313 | $ 1,047 | $ 3,778 | $ 2,912 | ||
Depreciation, equipment rentals | 1,137 | 990 | 3,454 | 2,732 | ||
Proceeds from Sale and Collection of Receivables | 223 | 909 | ||||
Payments to Acquire Equipment on Lease | 5,739 | 5,533 | ||||
Net Cash Provided by (Used in) Financing Activities | (526) | (4,240) | ||||
Net Cash Provided by (Used in) Investing Activities | (7,430) | (1,616) | ||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 6,285 | 4,495 | $ 6,285 | 4,495 | $ 6,659 | $ 2,942 |
Accounting Standards Update 2016-15 [Member] | ||||||
Reclassification of prior period amounts [Line Items] | ||||||
Net Cash Provided by (Used in) Financing Activities | 129 | |||||
Net Cash Provided by (Used in) Investing Activities | (2) | |||||
Adjustments for New Accounting Pronouncement [Member] | ||||||
Reclassification of prior period amounts [Line Items] | ||||||
Payments to Acquire Equipment on Lease | 3,800 | |||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 55 | 55 | $ 72 | |||
Cost of Equipment Rentals [Member] | ||||||
Reclassification of prior period amounts [Line Items] | ||||||
Prior Period Reclassification Adjustment | $ 123 | $ 347 |
Basis of Presentation and Oth_3
Basis of Presentation and Other Information Business combination (Details) | Apr. 29, 2018shares |
Business combination [Line Items] | |
Exchange Ratio | 0.10256 |
Equivalent shares | 9.75000 |
Fully diluted shares, percentage owned | 42.00% |
Fully diluted shares, percentage owned by public | 0.31 |
SoftBank [Member] | |
Business combination [Line Items] | |
Fully diluted shares, percentage owned | 27.00% |
New Accounting Pronouncements -
New Accounting Pronouncements - Narrative (Details) $ in Millions | Apr. 01, 2018USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Capitalized Contract Cost, Gross | $ 1,200 |
Accumulated Deficit [Member] | Accounting Standards Update 2014-09 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative Effect of New Accounting Principle in Period of Adoption, Before Tax | 1,700 |
Cumulative Effect of New Accounting Principle in Period of Adoption | 1,300 |
Accumulated Deficit [Member] | Accounting Standards Update 2016-01 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative Effect of New Accounting Principle in Period of Adoption, Before Tax | 12 |
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8 |
New Accounting Pronouncements_2
New Accounting Pronouncements - Cumulative Effects of Accounting Standards Updates on Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Apr. 01, 2018 | Mar. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable, net | $ 3,455 | $ 3,808 | $ 3,711 |
Device and accessory inventory | 919 | 979 | 1,003 |
Prepaid expenses and other current assets | 1,199 | 846 | 575 |
Costs to acquire a customer contract | 1,497 | 1,219 | |
Other assets | 1,128 | 964 | 921 |
Accrued expenses and other current liabilities | 3,467 | 3,927 | 3,962 |
Deferred tax liabilities | 7,684 | 7,660 | 7,294 |
Other liabilities | 3,403 | 3,451 | 3,483 |
(Accumulated deficit) retained earnings | 291 | 60 | (1,255) |
Accumulated other comprehensive loss | (333) | (321) | (313) |
Balances without adoption of Topic 606 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable, net | 3,356 | ||
Device and accessory inventory | 941 | ||
Prepaid expenses and other current assets | 672 | ||
Costs to acquire a customer contract | 0 | ||
Other assets | 939 | ||
Accrued expenses and other current liabilities | 3,489 | ||
Deferred tax liabilities | 7,177 | ||
Other liabilities | 3,437 | ||
(Accumulated deficit) retained earnings | (1,548) | ||
Scenario, Previously Reported | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable, net | 3,711 | ||
Device and accessory inventory | 1,003 | ||
Prepaid expenses and other current assets | 575 | ||
Costs to acquire a customer contract | 0 | ||
Other assets | 921 | ||
Accrued expenses and other current liabilities | 3,962 | ||
Deferred tax liabilities | 7,294 | ||
Other liabilities | 3,483 | ||
(Accumulated deficit) retained earnings | (1,255) | ||
Accumulated other comprehensive loss | $ (313) | ||
Accounting Standards Update 2014-09 | Change | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable, net | 99 | ||
Device and accessory inventory | (22) | ||
Prepaid expenses and other current assets | 527 | ||
Costs to acquire a customer contract | 1,497 | ||
Other assets | 189 | ||
Accrued expenses and other current liabilities | (22) | ||
Deferred tax liabilities | 507 | ||
Other liabilities | (34) | ||
(Accumulated deficit) retained earnings | $ 1,839 | ||
Accounting Standards Update 2014-09 | Restatement Adjustment | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Accounts and notes receivable, net | 97 | ||
Device and accessory inventory | (24) | ||
Prepaid expenses and other current assets | 271 | ||
Costs to acquire a customer contract | 1,219 | ||
Other assets | 43 | ||
Accrued expenses and other current liabilities | (35) | ||
Deferred tax liabilities | 366 | ||
Other liabilities | (32) | ||
(Accumulated deficit) retained earnings | 1,307 | ||
Accounting Standards Update, Other | Restatement Adjustment | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
(Accumulated deficit) retained earnings | 8 | ||
Accumulated other comprehensive loss | $ (8) |
New Accounting Pronouncements_3
New Accounting Pronouncements - Cumulative Effects of Accounting Standards Update on Statement of Comprehensive Income and Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Service revenue | $ 8,601,000 | $ 25,159,000 | ||
Revenue, equipment sales, net | 1,589,000 | $ 1,262,000 | 4,180,000 | $ 3,443,000 |
Revenue, equipment rentals, net | 1,313,000 | 1,047,000 | 3,778,000 | 2,912,000 |
Revenues | 8,601,000 | 8,239,000 | 25,159,000 | 24,323,000 |
Cost of Services (exclusive of depreciation and amortization included below) | 1,648,000 | 1,733,000 | 5,019,000 | 5,140,000 |
Cost of equipment sales | 1,734,000 | 1,673,000 | 4,521,000 | 4,622,000 |
Cost of equipment rentals | 182,000 | 123,000 | 457,000 | 347,000 |
Selling, general and administrative | 2,003,000 | 2,108,000 | 5,731,000 | 6,059,000 |
Severance and exit costs | (30,000) | (63,000) | (13,000) | |
Depreciation, network and other | 1,088,000 | 987,000 | 3,132,000 | 2,961,000 |
Depreciation, equipment rentals | 1,137,000 | 990,000 | 3,454,000 | 2,732,000 |
Amortization | 145,000 | 196,000 | 475,000 | 628,000 |
Other, net | 185,000 | (298,000) | 298,000 | (657,000) |
Total costs and expenses | 8,122,000 | 7,512,000 | 23,087,000 | 21,832,000 |
Operating Income | 479,000 | 727,000 | 2,072,000 | 2,491,000 |
Total other expense | (632,000) | (623,000) | (1,781,000) | (1,839,000) |
Loss (income) before income taxes | (153,000) | 104,000 | 291,000 | 652,000 |
Income tax benefit | 8,000 | 7,052,000 | (56,000) | 6,662,000 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (145,000) | 7,156,000 | 235,000 | 7,314,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 4,000 | 6,000 | (4,000) | 6,000 |
Net Income (Loss) Attributable to Parent | $ (141,000) | $ 7,162,000 | $ 231,000 | $ 7,320,000 |
Basic net (loss) income per common share | $ (0.03) | $ 1.79 | $ 0.06 | $ 1.83 |
Diluted net (loss) income per common share | $ (0.03) | $ 1.76 | $ 0.06 | $ 1.79 |
Basic weighted average common shares outstanding | 4,078 | 4,001 | 4,050 | 3,998 |
Diluted weighted average common shares outstanding | 4,078 | 4,061 | 4,110 | 4,080 |
Change | Accounting Standards Update 2014-09 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Revenue, equipment sales, net | $ 325,000 | $ 957,000 | ||
Revenue, equipment rentals, net | (16,000) | (49,000) | ||
Revenues | 110,000 | 393,000 | ||
Cost of Services (exclusive of depreciation and amortization included below) | (23,000) | (54,000) | ||
Cost of equipment sales | 19,000 | 90,000 | ||
Cost of equipment rentals | 0 | 0 | ||
Selling, general and administrative | (142,000) | (316,000) | ||
Depreciation, network and other | 0 | 0 | ||
Depreciation, equipment rentals | 0 | 0 | ||
Amortization | 0 | 0 | ||
Other, net | 0 | 0 | ||
Total costs and expenses | (146,000) | (280,000) | ||
Operating Income | 256,000 | 673,000 | ||
Total other expense | 0 | 0 | ||
Loss (income) before income taxes | 256,000 | 673,000 | ||
Income tax benefit | (54,000) | (141,000) | ||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 202,000 | 532,000 | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | ||
Net Income (Loss) Attributable to Parent | $ 202,000 | $ 532,000 | ||
Basic net (loss) income per common share | $ 50,000 | $ 130,000 | ||
Diluted net (loss) income per common share | $ 50,000 | $ 130,000 | ||
Basic weighted average common shares outstanding | 0 | 0 | ||
Diluted weighted average common shares outstanding | 0 | 60 | ||
Balances without adoption of Topic 606 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Revenue, equipment sales, net | $ 1,264,000 | $ 3,223,000 | ||
Revenue, equipment rentals, net | 1,329,000 | 3,827,000 | ||
Revenues | 8,491,000 | 24,766,000 | ||
Cost of Services (exclusive of depreciation and amortization included below) | 1,671,000 | 5,073,000 | ||
Cost of equipment sales | 1,715,000 | 4,431,000 | ||
Cost of equipment rentals | 182,000 | 457,000 | ||
Selling, general and administrative | 2,145,000 | 6,047,000 | ||
Depreciation, network and other | 1,088,000 | 3,132,000 | ||
Depreciation, equipment rentals | 1,137,000 | 3,454,000 | ||
Amortization | 145,000 | 475,000 | ||
Other, net | 185,000 | 298,000 | ||
Total costs and expenses | 8,268,000 | 23,367,000 | ||
Operating Income | 223,000 | 1,399,000 | ||
Total other expense | (632,000) | (1,781,000) | ||
Loss (income) before income taxes | (409,000) | (382,000) | ||
Income tax benefit | 62,000 | 85,000 | ||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (347,000) | (297,000) | ||
Net Income (Loss) Attributable to Noncontrolling Interest | 4,000 | (4,000) | ||
Net Income (Loss) Attributable to Parent | $ (343,000) | $ (301,000) | ||
Basic net (loss) income per common share | $ (80,000) | $ (70,000) | ||
Diluted net (loss) income per common share | $ (80,000) | $ (70,000) | ||
Basic weighted average common shares outstanding | 4,078 | 4,050 | ||
Diluted weighted average common shares outstanding | 4,078 | 4,050 | ||
Services [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Service revenue | $ 5,699,000 | $ 5,930,000 | $ 17,201,000 | $ 17,968,000 |
Services [Member] | Change | Accounting Standards Update 2014-09 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Service revenue | (199,000) | (515,000) | ||
Services [Member] | Balances without adoption of Topic 606 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Service revenue | $ 5,898,000 | $ 17,716,000 |
Financial Instruments (Narrativ
Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Fair Value Disclosures [Abstract] | ||
Short-term Investments | $ 632 | $ 2,354 |
Certificates of Deposit, at Carrying Value | 300 | 1,600 |
Commercial Paper | 0 | |
Marketable Securities, Equity Securities | $ 2 | 57 |
Commercial Paper, at Carrying Value | $ 765 |
Installment Receivables - Narra
Installment Receivables - Narrative (Details) | 9 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Payment term (up to) | 24 months |
Financial Instruments (Estimate
Financial Instruments (Estimated Fair Value of Debt, Financing and Capital Lease Obligations) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Current and long-term debt, financing and capital lease obligations, Carrying amount | $ 40,125 | $ 40,820 |
Liabilities, Fair Value Disclosure, Nonrecurring | 40,326 | 41,286 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | 35,756 | 37,549 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, Fair Value Disclosure, Nonrecurring | $ 4,570 | $ 3,737 |
Installment Receivables - Summa
Installment Receivables - Summary of Installment Receivables (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Installment receivables, gross | $ 1,151 | $ 1,472 |
Deferred interest | 62 | 106 |
Installment receivables, net of deferred interest | 1,089 | 1,366 |
Allowance for credit losses | 195 | 217 |
Installment receivables, net | 894 | 1,149 |
Accounts and notes receivable, net | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Installment receivables, net | 675 | 995 |
Other assets | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Installment receivables, net | $ 219 | $ 154 |
Installment Receivables - Balan
Installment Receivables - Balance and Aging of Financing Receivables by Credit Category (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | $ 1,151 | $ 1,472 |
Prime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 721 | 1,037 |
Subprime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 430 | 435 |
Unbilled | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 1,057 | 1,342 |
Unbilled | Prime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 661 | 951 |
Unbilled | Subprime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 396 | 391 |
Billed - current | Billed | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 71 | 98 |
Billed - current | Billed | Prime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 48 | 69 |
Billed - current | Billed | Subprime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 23 | 29 |
Billed - past due | Billed | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 23 | 32 |
Billed - past due | Billed | Prime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | 12 | 17 |
Billed - past due | Billed | Subprime | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Installment receivables, gross | $ 11 | $ 15 |
Installment Receivables - Sched
Installment Receivables - Schedule of Activity in the Deferred Interest Allowance for Credit Losses (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Dec. 31, 2018 | Mar. 31, 2018 | |
Financing Receivable | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Deferred interest and allowance for credit losses, beginning of period | $ 323 | $ 506 |
Bad debt expense | 66 | 142 |
Write-offs, net of recoveries | (88) | (224) |
Change in deferred interest on short- and long-term installment receivables | 6 | (101) |
Deferred interest and allowance for credit losses, end of period | 257 | 323 |
Balances without adoption of Topic 606 | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Change in deferred interest on short- and long-term installment receivables | $ (50) | $ 0 |
Intangible Assets (Indefinite-L
Intangible Assets (Indefinite-Lived Intangible Assets) (Details) | 9 Months Ended |
Dec. 31, 2018USD ($) | |
Indefinite-lived Intangible Assets [Line Items] | |
Indefinite-lived Intangible Assets, Period Start | $ 41,309,000,000 |
Indefinite-lived Intangible Assets, Period End | 41,448,000,000 |
Goodwill, beginning balance | 6,586,000,000 |
Goodwill, Period Increase (Decrease) | 12,000,000 |
Goodwill, ending balance | 6,598,000,000 |
Total indefinite-lived intangible assets including FCC licenses, Trademarks, Goodwill, beginning balance | 47,895,000,000 |
Indefinite lived intangible assets period increase decrease | 151,000,000 |
Total indefinite-lived intangible assets including FCC licenses, Trademarks, Goodwill, ending balance | 48,046,000,000 |
Goodwill, Impaired, Accumulated Impairment Loss | 0 |
FCC Licenses [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Indefinite-lived Intangible Assets, Period Start | 37,274,000,000 |
Indefinite-lived Intangible Assets, Period Increase (Decrease) | 139,000,000 |
Indefinite-lived Intangible Assets, Period End | 37,413,000,000 |
Trademarks [Member] | |
Indefinite-lived Intangible Assets [Line Items] | |
Indefinite-lived Intangible Assets, Period Start | 4,035,000,000 |
Indefinite-lived Intangible Assets, Period Increase (Decrease) | 0 |
Indefinite-lived Intangible Assets, Period End | $ 4,035,000,000 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | ||||
Accrued capital expenditures | $ 1,044 | $ 428 | $ 1,044 | $ 428 |
Loss on Disposition of Property Plant Equipment | 642 | 533 | ||
Leased devices [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Accrued capital expenditures | 264 | 306 | 264 | 306 |
Increase (Decrease) in Inventories | 600 | 600 | ||
Network equipment, site costs and related software [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Loss on Disposition of Property Plant Equipment | (117) | (185) | (180) | |
Other, Net [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Loss on Disposition of Property Plant Equipment | (299) | (123) | (642) | (527) |
Write-off leased devices [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Loss on Disposition of Property Plant Equipment | $ (182) | $ (123) | $ (457) | $ (347) |
Intangible Assets (Intangible A
Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($) | 9 Months Ended | |
Dec. 31, 2018 | Mar. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill, Impairment Loss | $ 0 | |
Gross Carrying Value | 8,317,000,000 | $ 8,402,000,000 |
Accumulated Amortization | (6,402,000,000) | (5,937,000,000) |
Net Carrying Value | 1,915,000,000 | 2,465,000,000 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 6,563,000,000 | 6,562,000,000 |
Accumulated Amortization | (5,906,000,000) | (5,462,000,000) |
Net Carrying Value | 657,000,000 | 1,100,000,000 |
Favorable spectrum leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 764,000,000 | 856,000,000 |
Accumulated Amortization | (142,000,000) | (172,000,000) |
Net Carrying Value | 622,000,000 | 684,000,000 |
Favorable tower leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 335,000,000 | 335,000,000 |
Accumulated Amortization | (207,000,000) | (179,000,000) |
Net Carrying Value | 128,000,000 | 156,000,000 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 520,000,000 | 520,000,000 |
Accumulated Amortization | (86,000,000) | (74,000,000) |
Net Carrying Value | 434,000,000 | 446,000,000 |
Other Finite Lived Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 135,000,000 | 129,000,000 |
Accumulated Amortization | (61,000,000) | (50,000,000) |
Net Carrying Value | 74,000,000 | 79,000,000 |
Finite Lived Intangible Assets Excluding Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 1,754,000,000 | 1,840,000,000 |
Accumulated Amortization | (496,000,000) | (475,000,000) |
Net Carrying Value | $ 1,258,000,000 | $ 1,365,000,000 |
Minimum [Member] | Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | |
Minimum [Member] | Favorable tower leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | ||
Minimum [Member] | Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 2 years | |
Minimum [Member] | Other Finite Lived Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | |
Maximum [Member] | Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 8 years | |
Maximum [Member] | Favorable spectrum leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 23 years | |
Maximum [Member] | Favorable tower leases [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 7 years | |
Maximum [Member] | Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 34 years | |
Maximum [Member] | Other Finite Lived Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 10 years |
Property, Plant and Equipment_3
Property, Plant and Equipment (Components of Property Plant and Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Less accumulated depreciation | $ (19,805) | $ (17,423) |
Property, plant and equipment, net | 21,422 | 19,925 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 247 | 254 |
Network equipment, site costs and related software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 24,015 | 22,930 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 833 | 813 |
Non-network internal use software, office equipment, leased devices and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 12,612 | 11,149 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Construction in progress | $ 3,520 | $ 2,202 |
Property, Plant and Equipment_4
Property, Plant and Equipment (Components of Property Plant and Equipment, Specifically Leased Devices) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ (19,805) | $ (17,423) |
Property, plant and equipment, net | 21,422 | 19,925 |
Leased devices [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment | 10,987 | 9,592 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (4,304) | (3,580) |
Property, plant and equipment, net | $ 6,683 | $ 6,012 |
Long-Term Debt, Financing and_3
Long-Term Debt, Financing and Capital Lease Obligations (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Nov. 26, 2018 | Nov. 01, 2018 | Mar. 31, 2018 | Feb. 20, 2018 | Feb. 02, 2017 | Oct. 31, 2016 |
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | $ 7,100 | $ 6,000 | |||||
Debt Instrument, Unamortized Premium (Discount), Net | $ (388) | $ (111) | |||||
Current and Long-term Debt, Financing and Capital Lease Obligations | 39,884 | 40,892 | |||||
Current portion of long-term debt, financing and capital lease obligations | 3,596 | 3,429 | |||||
Long-term debt, financing and capital lease obligations | 36,288 | 37,463 | |||||
Senior Notes [Member] | Sprint Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.625% | ||||||
Long-term Debt, Gross | 12,000 | 12,000 | |||||
Senior Notes [Member] | Sprint Nextel Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.25% | ||||||
Long-term Debt, Gross | 4,780 | 4,980 | |||||
Current portion of long-term debt, financing and capital lease obligations | 200 | ||||||
Senior Notes [Member] | Sprint Capital Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | $ 6,204 | 6,204 | |||||
Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | ||||||
Long-term Debt, Gross | $ 1,000 | $ 1,753 | 2,753 | ||||
Secured Debt [Member] | Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | ||||||
Long-term Debt, Gross | 6,344 | 7,000 | |||||
Financing Obligation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | $ 3,324 | 2,411 | |||||
Revolving Credit Facility [Member] | Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 4.81% | ||||||
Line of Credit Facility, Amount Outstanding | $ 0 | 0 | |||||
Secured term loan [Member] | Sprint Nextel Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 5.56% | ||||||
Long-term Debt, Gross | $ 1,100 | $ 4,000 | |||||
Line of Credit Facility, Amount Outstanding | $ 5,030 | 3,960 | |||||
Secured term loan [Member] | Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of Credit Facility, Amount Outstanding | $ 3,900 | ||||||
Secured term loan [Member] | PRWireless HoldCo, LLC Secured Term Loan [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 8.05% | ||||||
Line of Credit Facility, Amount Outstanding | $ 187 | 182 | |||||
Line of Credit [Member] | Export Development Canada Agreement [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of Credit Facility, Amount Outstanding | 300 | ||||||
Line of Credit [Member] | Secured Equipment Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Line of Credit Facility, Amount Outstanding | 515 | 527 | |||||
Capital Lease Obligations [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | 310 | $ 686 | |||||
Financing Obligations, Capital Lease Obligations and Other [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Gross | $ 588 | ||||||
Minimum [Member] | Senior Notes [Member] | Sprint Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.13% | ||||||
Minimum [Member] | Senior Notes [Member] | Sprint Nextel Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||
Minimum [Member] | Senior Notes [Member] | Sprint Capital Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.88% | ||||||
Minimum [Member] | Guaranteed notes [Member] | Sprint Nextel Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | ||||||
Minimum [Member] | Secured Debt [Member] | Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | ||||||
Minimum [Member] | Financing Obligation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.60% | ||||||
Minimum [Member] | Line of Credit [Member] | Secured Equipment Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 4.02% | ||||||
Minimum [Member] | Capital Lease Obligations [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.35% | ||||||
Maximum [Member] | Senior Notes [Member] | Sprint Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.88% | ||||||
Maximum [Member] | Senior Notes [Member] | Sprint Nextel Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.50% | ||||||
Maximum [Member] | Senior Notes [Member] | Sprint Capital Corporation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.75% | ||||||
Maximum [Member] | Secured Debt [Member] | Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | ||||||
Maximum [Member] | Financing Obligation [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.81% | ||||||
Maximum [Member] | Line of Credit [Member] | Export Development Canada Agreement [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 4.77% | ||||||
Maximum [Member] | Line of Credit [Member] | Secured Equipment Credit Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 4.85% | ||||||
Maximum [Member] | Capital Lease Obligations [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Long-Term Debt, Financing and_4
Long-Term Debt, Financing and Capital Lease Obligations (Narrative) (Details) | 1 Months Ended | 9 Months Ended | ||||||||||||||
Nov. 06, 2018USD ($) | Feb. 28, 2017 | Oct. 31, 2016USD ($) | May 31, 2016USD ($) | Dec. 31, 2018USD ($)siteyearstranche | Dec. 31, 2017USD ($) | Dec. 31, 2019 | Nov. 26, 2018USD ($) | Nov. 01, 2018USD ($) | Oct. 01, 2018USD ($) | Jun. 01, 2018 | May 31, 2018 | Mar. 31, 2018USD ($)site | Feb. 20, 2018 | Oct. 31, 2017USD ($) | Feb. 02, 2017USD ($) | |
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 7,100,000,000 | $ 6,000,000,000 | ||||||||||||||
Long-term debt issued by 100% owned subsidiary and is fully and unconditionally guaranteed by the parent | $ 21,600,000,000 | |||||||||||||||
Interest Costs Capitalized | 54,000,000 | $ 42,000,000 | ||||||||||||||
Cash interest payments | 1,900,000,000 | |||||||||||||||
Redeemable notes | 30,300,000,000 | |||||||||||||||
Principal amount of notes with the right to require the Company to repurchase on change of control | 24,100,000,000 | |||||||||||||||
Current portion of long-term debt, financing and capital lease obligations | 3,596,000,000 | $ 3,429,000,000 | ||||||||||||||
Maximum Funding Limit | $ 4,500,000,000 | |||||||||||||||
Receivables Facility, maximum amount available based on receivables sold to investors, percent | 50.00% | |||||||||||||||
Receivables Facility, Amount Outstanding | $ 3,300,000,000 | |||||||||||||||
Receivables Facility, Amount of Funds Available | 131,000,000 | $ 1,300,000,000 | ||||||||||||||
Receivables Facility, repayments | $ 2,000,000,000 | |||||||||||||||
Maximum Funding Limit, increase | 200,000,000 | |||||||||||||||
Receivables Facility, Amount Drawn on Facility | 5,100,000,000 | |||||||||||||||
Sale Leaseback Transaction, Cumulative Lease Payments | $ 4,200,000,000 | |||||||||||||||
Long-term Debt, Percentage Bearing Variable Interest, Amount | 250 | |||||||||||||||
Number of cell sites leased back | site | 1,750 | 3,000 | ||||||||||||||
Term in years for cell sites leased back renewal options | years | 20 | |||||||||||||||
Payments for (Proceeds from) Businesses and Interest in Affiliates | $ 181,000,000 | |||||||||||||||
Ratio Of Total Indebtedness To Adjusted EBITDA | 2.5 | |||||||||||||||
Financing Receivable, Net | $ 894,000,000 | $ 1,149,000,000 | ||||||||||||||
Installment Lease Receivables, Net Book Value | 6,700,000,000 | |||||||||||||||
Capital Lease Obligations [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | 310,000,000 | 686,000,000 | ||||||||||||||
Tower financing [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Sale Leaseback Transaction, Net Book Value | $ 118,000,000 | |||||||||||||||
Minimum [Member] | Capital Lease Obligations [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.35% | |||||||||||||||
Maximum [Member] | Capital Lease Obligations [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||
Spectrum Assets [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Concentration Risk, Percentage | 14.00% | |||||||||||||||
Shentel [Member] | Capital Lease Obligations [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 118,000,000 | |||||||||||||||
Delcredere / Ducroire (D/D) Secured Equipment Credit Facility [Member] | Line of Credit [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Aggregate principal amount line of credit | 250,000,000 | $ 150,000,000 | ||||||||||||||
Repayments of Lines of Credit | 40,000,000 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 119,000,000 | |||||||||||||||
K-sure Secured Equipment Credit Facility [Member] | Line of Credit [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Aggregate principal amount line of credit | 750,000,000 | |||||||||||||||
Repayments of Lines of Credit | $ 75,000,000 | |||||||||||||||
Number of tranches | tranche | 3 | |||||||||||||||
Proceeds from Lines of Credit | $ 156,000,000 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 275,000,000 | |||||||||||||||
Finnvera Secured Equipment Credit Facility [Member] | Line of Credit [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Aggregate principal amount line of credit | $ 800,000,000 | |||||||||||||||
Repayments of Lines of Credit | 54,000,000 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 120,000,000 | |||||||||||||||
Export Development Canada Agreement [Member] | Line of Credit [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Line of Credit Facility, Amount Outstanding | 300,000,000 | |||||||||||||||
Export Development Canada Agreement [Member] | Tranche three and four [Member] | Line of Credit [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Line of Credit Facility, Amount Outstanding | 300,000,000 | |||||||||||||||
Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | Secured term loan [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Repayments of Lines of Credit | 30,000,000 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 3,900,000,000 | |||||||||||||||
Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | Revolving Credit Facility [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Aggregate principal amount line of credit | $ 2,000,000,000 | |||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 1,900,000,000 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 0 | 0 | ||||||||||||||
Ratio Of Total Indebtedness To Adjusted EBITDA | 4.8 | |||||||||||||||
Ratio Of Total Indebtedness To Adjusted EBITDA, Minimum | 3.5 | |||||||||||||||
Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | Letter of Credit [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Letters of Credit Outstanding, Amount | 105,000,000 | |||||||||||||||
Sprint Nextel Corporation [Member] | Secured term loan [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 1,100,000,000 | $ 4,000,000,000 | ||||||||||||||
Debt Instrument, Term | 7 years | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 5,030,000,000 | 3,960,000,000 | ||||||||||||||
Sprint Nextel Corporation [Member] | Senior Notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | 4,780,000,000 | 4,980,000,000 | ||||||||||||||
Current portion of long-term debt, financing and capital lease obligations | 200,000,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.25% | |||||||||||||||
Sprint Nextel Corporation [Member] | Guaranteed notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 1,000,000,000 | $ 1,753,000,000 | 2,753,000,000 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | |||||||||||||||
Sprint Nextel Corporation [Member] | Minimum [Member] | Senior Notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||||||||
Sprint Nextel Corporation [Member] | Minimum [Member] | Guaranteed notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | |||||||||||||||
Sprint Nextel Corporation [Member] | Maximum [Member] | Senior Notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.50% | |||||||||||||||
PRWireless HoldCo, LLC Secured Term Loan [Member] | Secured term loan [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Repayments of Lines of Credit | $ 1,000,000 | |||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 14,000,000 | |||||||||||||||
Proceeds from Lines of Credit | 6,000,000 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 187,000,000 | 182,000,000 | ||||||||||||||
Spectrum Financing [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Maximum Borrowing Capacity | $ 7,000,000,000 | |||||||||||||||
Debt Instrument, Additional Borrowings Available | 3,900,000,000 | |||||||||||||||
Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | 6,344,000,000 | 7,000,000,000 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | |||||||||||||||
Debt instrument face amount | $ 3,500,000,000 | |||||||||||||||
Debt Instrument, Term | 5 years | |||||||||||||||
Repayments of Debt | 656,000,000 | |||||||||||||||
Secured Debt, Current | $ 875,000,000 | |||||||||||||||
Operating Leases, Future Minimum Payments Due | $ 3,500,000,000 | |||||||||||||||
Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | Minimum [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.36% | |||||||||||||||
Sprint Spectrum Co LLC, Sprint Spectrum Co II LLC, Sprint Spectrum Co III LLC [Member] | Maximum [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | |||||||||||||||
Sprint Financing maturing 2021 [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 2,400,000,000 | |||||||||||||||
Sprint Corporation [Member] | Senior Notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Long-term Debt, Gross | $ 12,000,000,000 | $ 12,000,000,000 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.625% | |||||||||||||||
Sprint Corporation [Member] | Minimum [Member] | Senior Notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.13% | |||||||||||||||
Sprint Corporation [Member] | Maximum [Member] | Senior Notes [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.88% | |||||||||||||||
Spectrum Financing maturing 2025 [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.738% | |||||||||||||||
Debt Instrument, Additional Borrowings Available | $ 2,100,000,000 | |||||||||||||||
Spectrum Financing maturing 2028 [Member] | Secured Debt [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.152% | |||||||||||||||
Debt Instrument, Additional Borrowings Available | $ 1,800,000,000 | |||||||||||||||
Wireless Service [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Purchase Commitment Allocation | 22.00% | 26.00% | 26.00% | |||||||||||||
Installment Receivables [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Purchase Commitment Allocation | 78.00% | 18.00% | 28.00% | |||||||||||||
Future lease receivables [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Purchase Commitment Allocation | 56.00% | 46.00% | ||||||||||||||
Accounts and notes receivable, net | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Financing Receivable, Net | $ 675,000,000 | 995,000,000 | ||||||||||||||
Accounts and notes receivable, net | Wireless Services and Installment Receivables [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Financing Receivable, Net | 2,500,000,000 | |||||||||||||||
Other assets | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Financing Receivable, Net | 219,000,000 | 154,000,000 | ||||||||||||||
Other assets | Special purpose entity [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Financing Receivable, Net | 204,000,000 | |||||||||||||||
Interest Rate Swap [Member] | Sprint Nextel Corporation [Member] | Secured term loan [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Derivative, Notional Amount | $ 2,000,000,000 | |||||||||||||||
Derivative Liability, Fair Value, Gross Liability | $ 31,000,000 | $ 41,000,000 | ||||||||||||||
Derivative, Term of Contract | 5 years | |||||||||||||||
Scenario, Forecast [Member] | Secured Revolving Bank Credit Facility expires in Feb 2021[Member] [Member] | Revolving Credit Facility [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Ratio Of Total Indebtedness To Adjusted EBITDA | 3.75 | |||||||||||||||
London Interbank Offered Rate (LIBOR) [Member] | PRWireless HoldCo, LLC Secured Term Loan [Member] | Secured term loan [Member] | ||||||||||||||||
Schedule of Capitalization, Long-term Debt [Line Items] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 5.25% |
Revenues from Contracts with _3
Revenues from Contracts with Customers - Narrative (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2018USD ($)segments | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | |
Disaggregation of Revenue [Line Items] | ||||
Number of Reportable Segments | segments | 2 | |||
Total revenue | $ 8,601 | $ 25,159 | ||
Revenue, Remaining Performance Obligation | 9,775 | 9,775 | ||
Equipment sales | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 1,589 | 4,180 | ||
Scenario, Forecast [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue, Remaining Performance Obligation | $ 2,467 | $ 1,100 | ||
Sales Channel, Through Intermediary [Member] | Equipment sales | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 1,006 | $ 2,619 |
Revenues from Contracts with _4
Revenues from Contracts with Customers - Performance Period Narrative (Details) | 9 Months Ended |
Dec. 31, 2018 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | |
Wireless Service [Member] | Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 24 months |
Leasing Contracts [Member] | Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 18 months |
Leasing Contracts [Member] | Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 30 months |
Handsets [Member] | Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 24 months |
Handsets [Member] | Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 30 months |
Accessories [Member] | Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 12 months |
Accessories [Member] | Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 18 months |
Wireline [Member] | Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 24 months |
Wireline [Member] | Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 36 months |
Revenues from Contracts with _5
Revenues from Contracts with Customers - Schedule of Disaggregated Reported Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Dec. 31, 2018 | Dec. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 8,601 | $ 25,159 |
Total service revenue | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 5,699 | 17,201 |
Postpaid | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 4,236 | 12,679 |
Prepaid | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 924 | 2,860 |
Wholesale, affiliate and other | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 294 | 881 |
Wireline | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 245 | 781 |
Equipment sales | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 1,589 | 4,180 |
Equipment rentals | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 1,313 | $ 3,778 |
Revenues from Contracts with _6
Revenues from Contracts with Customers Revenues from Contracts with Customers - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Dec. 31, 2018 | Apr. 01, 2018 | Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |||
Contract with Customer, Asset, Net | $ 806 | $ 432 | |
Billed trade receivables | 2,591 | 2,559 | |
Unbilled trade receivables | 918 | 1,250 | |
Contract with Customer, Liability | 1,011 | $ 1,104 | |
Sales commissions, opening balance | 1,219 | ||
Sales commissions, additions | 874 | ||
Capitalized Contract Cost, Amortization | (596) | ||
Costs to acquire a customer contract | 1,497 | $ 1,219 | |
Revenue recognized from contract liability | $ 986 |
Revenues from Contracts with _7
Revenues from Contracts with Customers - Schedule of Remaining Performance Obligations (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Dec. 31, 2018 | Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, Remaining Performance Obligation | $ 9,775 | ||
Scenario, Forecast [Member] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, Remaining Performance Obligation | $ 2,467 | $ 1,100 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, Remaining Performance Obligation | $ 2,898 | ||
Performance period | 9 months | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, Remaining Performance Obligation | $ 6,558 | ||
Performance period | 1 year | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Revenue, Remaining Performance Obligation | $ 319 | ||
Performance period |
Severance and Exit Costs (Sched
Severance and Exit Costs (Schedule of Severance and Exit Costs) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2018 | Mar. 31, 2018 | |
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve | $ 181 | $ 248 |
Supplemental Unemployment Benefits, Severance Benefits | 12 | 64 |
Restructuring Charges | 63 | |
Severance Costs | 22 | |
Payments for Postemployment Benefits | (74) | |
Restructuring Reserve, Settled with Cash | (130) | |
Lease [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve | 145 | 165 |
Restructuring Charges | 23 | |
Restructuring reserved settled with cash and other adjustments | 43 | |
Access [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve | 24 | $ 19 |
Restructuring reserved settled with cash and other adjustments | 13 | |
Wireless [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Severance Costs | 15 | |
Wireless [Member] | Lease [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Charges | 23 | |
Wireline [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Severance Costs | 7 | |
Severance and exit costs [Member] | Access [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Charges | 18 | |
Severance and exit costs [Member] | Wireless [Member] | Access [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Charges | 7 | |
Severance and exit costs [Member] | Wireline [Member] | Access [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Charges | $ 11 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||||
Income tax benefit | $ (8) | $ (7,052) | $ 56 | $ (6,662) | |
Effective Income Tax Rate Reconciliation, Percent | 19.20% | (1021.80%) | |||
Cumulative effect of changes in corporate state income tax laws that were recognized within State income taxes, net of federal income tax effect | $ (62) | $ 28 | |||
Tax benefit from organizational restructuring | 12 | 0 | |||
Increase deferred tax liability for business activity changes | 0 | 69 | |||
Unrecognized tax benefit | $ 233 | 233 | $ 239 | ||
Income Taxes Paid, Net | $ 62 | $ 55 |
Income Taxes (Effective Income
Income Taxes (Effective Income Tax Rate) (Details) - USD ($) Rate in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 0 | $ 7,090 | ||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | 2900.00% | |||
Income tax benefit at the federal statutory rate | $ (61) | (205) | ||
State income taxes, net of federal income tax effect | (40) | (57) | ||
Cumulative effect of changes in corporate state income tax laws that were recognized within State income taxes, net of federal income tax effect | 62 | (28) | ||
Tax benefit from organizational restructuring | (12) | 0 | ||
Increase deferred tax liability for business activity changes | 0 | (69) | ||
Credit for increasing research activities | 13 | 11 | ||
Change in federal and state valuation allowance | 12 | (64) | ||
Unrecognized Tax Benefits, Period Increase (Decrease) | (6) | (20) | ||
Other, net | 5 | 4 | ||
Income tax expense | $ 8 | $ 7,052 | $ (56) | $ 6,662 |
Effective income tax rate | (19.20%) | 1021.80% |
Commitments and Contingencies (
Commitments and Contingencies (Narrative) (Details) $ in Millions | Apr. 19, 2012USD ($) | Dec. 31, 2018USD ($)claim | Dec. 31, 2018USD ($)claim | Mar. 31, 2018USD ($) |
Commitments and Contingencies [Line Items] | ||||
Minimum spectrum reconfiguration obligations | $ 2,800 | $ 2,800 | ||
Total Payments directly attributable to performance under Report and Order | 3,600 | 3,600 | ||
Payments directly attributable to performance under report and order, net change related to FCC licenses | 35 | |||
Unsecured Revolving Credit Facility expires in 2018 [Member] | Letter Of Credit Required By The FCCs Report And Order [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Initial Letter of Credit Requirement | $ 2,500 | |||
Letters of Credit Outstanding, Amount | $ 78 | $ 78 | ||
Stockholder Derivative Suit 2009 [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Loss Contingency, Pending Claims, Number | claim | 5 | 5 | ||
New York sales taxes on receipts from sale of wireless services [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Sales receipts alleged to not be reported, amount | $ 100 | |||
Litigation Settlement, Expense | $ 50 | |||
Derivative Shareholder Suits [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Loss Contingency, New Claims Filed, Number | claim | 8 | |||
Louisiana Municipal Police Employees Retirement System [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Loss Contingency, Claims Dismissed, Number | claim | 1 | |||
Johnson County Kansas [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Loss Contingency, New Claims Filed, Number | claim | 2 | |||
Loss Contingency, Claims Dismissed, Number | claim | 1 | |||
Federal Court of Kansas [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Loss Contingency, Pending Claims, Number | claim | 5 | 5 | ||
State and Local Jurisdiction [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Loss Contingency Accrual, Provision | $ 114 |
Per Share Data (Narrative) (Det
Per Share Data (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | Jul. 10, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ (145,000) | $ 7,156,000 | $ 235,000 | $ 7,314,000 | |
Net Income (Loss) Attributable to Noncontrolling Interest | (4,000) | (6,000) | 4,000 | (6,000) | |
Net Income (Loss) Attributable to Parent | $ (141,000) | $ 7,162,000 | $ 231,000 | $ 7,320,000 | |
Basic weighted average common shares outstanding | 4,078 | 4,001 | 4,050 | 3,998 | |
Diluted weighted average common shares outstanding | 4,078 | 4,061 | 4,110 | 4,080 | |
Basic net (loss) income per common share | $ (0.03) | $ 1.79 | $ 0.06 | $ 1.83 | |
Diluted net (loss) income per common share | $ (0.03) | $ 1.76 | $ 0.06 | $ 1.79 | |
Options and RSUs [Member] | |||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6 | ||||
Options and Restricted Stock Units [Member] | |||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||
Number of shares that had no effect on computation of dilutive weighted average number of shares outstanding | 0 | 47 | 56 | 61 | |
Warrant [Member] | |||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||
Number of shares that had no effect on computation of dilutive weighted average number of shares outstanding | 0 | 13 | 4 | 21 | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 55 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5.25 | ||||
Proceeds from Warrant Exercises | $ 287,000 | ||||
Warrant [Member] | SoftBank [Member] | |||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||
Number of shares that had no effect on computation of dilutive weighted average number of shares outstanding | 9 | 1 | 17 | ||
Employee Stock Option [Member] | |||||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 96 | 6 | 6 |
Segments (Narrative) (Details)
Segments (Narrative) (Details) | 9 Months Ended |
Dec. 31, 2018segments | |
Segment Reporting [Abstract] | |
Number of Reportable Segments | 2 |
Segments (Statement of Operatio
Segments (Statement of Operations Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | $ (8,601) | $ (8,260) | $ (25,156) | $ (24,356) |
Revenues | 8,601 | 8,239 | 25,159 | 24,323 |
Segment Operating Expenses | 5,500 | 5,541 | 15,519 | 16,055 |
Segment Reporting Information Operating Income or Loss | 3,101 | 2,719 | 9,637 | 8,301 |
Depreciation, network and other | 1,088 | 987 | 3,132 | 2,961 |
Depreciation, equipment rentals | 1,137 | 990 | 3,454 | 2,732 |
Amortization | 145 | 196 | 475 | 628 |
Hurricane-related charges | 66 | 100 | ||
Hurricane-related proceeds | (32) | |||
Merger costs | 67 | 216 | ||
Other Operating Expenses Net | (185) | 247 | (320) | 611 |
Selling, general and administrative | 2,003 | 2,108 | 5,731 | 6,059 |
Operating Income | 479 | 727 | 2,072 | 2,491 |
Interest Expense | 664 | 581 | 1,934 | 1,789 |
Other income, net | 32 | (42) | 153 | (50) |
Loss (income) before income taxes | (153) | 104 | 291 | 652 |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 9,553 | 8,072 | ||
Severance and exit costs | (30) | (63) | (13) | |
Gain (Loss) on Disposition of Property Plant Equipment | (117) | (185) | (175) | |
Gain (Loss) on Disposition of Assets | 12 | |||
Loss Contingency Accrual, Period Increase (Decrease) | (260) | (315) | ||
Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 8,351 | 7,949 | 24,362 | 23,380 |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 9,101 | 7,612 | ||
Gain (Loss) on Contract Termination | 34 | 5 | ||
Wireless [Member] | Wireless Including Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | (7,928) | (24,365) | (23,347) | |
Segment Operating Expenses | 5,286 | 14,650 | (15,109) | |
Segment Reporting Information Operating Income or Loss | 2,642 | 9,715 | 8,238 | |
Wireless [Member] | Wireless Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | (21) | 3 | (33) | |
Segment Operating Expenses | (96) | (7) | 118 | |
Segment Reporting Information Operating Income or Loss | 117 | (10) | 151 | |
Wireless [Member] | Wireless Excluding Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | (8,351) | (7,949) | (24,362) | (23,380) |
Segment Operating Expenses | (5,240) | 5,190 | (14,657) | 14,991 |
Segment Reporting Information Operating Income or Loss | 3,111 | 2,759 | 9,705 | 8,389 |
Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | (245) | (307) | (781) | (963) |
Revenues | 316 | 393 | 982 | 1,235 |
Segment Operating Expenses | (332) | 423 | (1,060) | 1,305 |
Segment Reporting Information Operating Income or Loss | (16) | (30) | (78) | (70) |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 170 | 132 | ||
Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | (5) | (4) | (13) | (13) |
Revenues | (66) | (82) | (188) | (259) |
Segment Operating Expenses | 72 | (72) | 198 | (241) |
Segment Reporting Information Operating Income or Loss | 6 | (10) | 10 | (18) |
Payments to Acquire Property, Plant and Equipment Inclusive of Equipment on Lease | 282 | 328 | ||
Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | 0 |
Intersegment Eliminations [Member] | Wireless [Member] | Wireless Including Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | |
Intersegment Eliminations [Member] | Wireless [Member] | Wireless Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | |
Intersegment Eliminations [Member] | Wireless [Member] | Wireless Excluding Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | 0 |
Intersegment Eliminations [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 71 | (86) | 201 | 272 |
Intersegment Eliminations [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (71) | (86) | (201) | (272) |
Other, Net [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Gain (Loss) on Disposition of Intangible Assets | 479 | |||
Cost of Sales [Member] | Other, Net [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Other Operating Expenses Net | 30 | (6) | 45 | |
Other, Net [Member] | Other, Net [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Other Operating Expenses Net | (22) | (5) | ||
Selling, general and administrative | $ 1 | |||
Selling, General and Administrative Expenses [Member] | Other, Net [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Other Operating Expenses Net | $ 15 | 17 | ||
Network equipment, site costs and related software [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Gain (Loss) on Disposition of Property Plant Equipment | 181 | |||
Other Property [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Gain (Loss) on Disposition of Property Plant Equipment | (6) | |||
Sales Revenue, Services, Net [Member] | Other, Net [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Other Operating Expenses Net | $ 51 | |||
New York sales taxes on receipts from sale of wireless services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Litigation Settlement, Expense | $ (50) |
Segments (Operating Revenues by
Segments (Operating Revenues by Service and Products) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||||
Hurricane-related proceeds | $ (32) | |||
Revenues | $ 8,601 | $ 8,239 | 25,159 | $ 24,323 |
Segment Reporting Information, Total Net Operating Revenues | 8,601 | 8,260 | 25,156 | 24,356 |
Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 8,351 | 7,949 | 24,362 | 23,380 |
Wireless [Member] | Wireless Hurricane and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 21 | (3) | 33 | |
Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 316 | 393 | 982 | 1,235 |
Segment Reporting Information, Total Net Operating Revenues | 245 | 307 | 781 | 963 |
Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (66) | (82) | (188) | (259) |
Segment Reporting Information, Total Net Operating Revenues | 5 | 4 | 13 | 13 |
Voice [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 3,778 | 2,912 | ||
Voice [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 3,778 | 2,912 | ||
Voice [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Voice [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 5,386 | 5,600 | 16,249 | 17,056 |
Services [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,160 | 5,311 | 15,536 | 16,141 |
Services [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 297 | 377 | 914 | 1,188 |
Services [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (71) | (88) | (201) | (273) |
Wireless Equipment Sales [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 1,589 | 1,262 | ||
Wireless Equipment Sales [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,589 | 1,262 | ||
Wireless Equipment Sales [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Wireless Equipment Sales [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Wireless Equipment Rentals [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 1,313 | 1,047 | ||
Wireless Equipment Rentals [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,313 | 1,047 | ||
Wireless Equipment Rentals [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Wireless Equipment Rentals [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Other Products or Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 313 | 351 | 949 | 945 |
Other Products or Services [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 289 | 329 | 868 | 884 |
Other Products or Services [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 19 | 16 | 68 | 47 |
Other Products or Services [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 5 | $ 6 | 13 | 14 |
Wireless Equipment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Segment Reporting Information, Total Net Operating Revenues | 4,180 | 3,443 | ||
Wireless Equipment [Member] | Wireless [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,180 | 3,443 | ||
Wireless Equipment [Member] | Wireline [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | ||
Wireless Equipment [Member] | Corporate, Other And Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | $ 0 | ||
Total service revenue | ||||
Segment Reporting Information [Line Items] | ||||
Hurricane-related proceeds | $ 3 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Brightstar [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 18 | $ 25 | $ 51 | $ 71 |
Related Party Transaction, Other Revenues from Transactions with Related Party | 52 | $ 71 | 149 | $ 100 |
Brightstar [Member] | Line of Credit [Member] | ||||
Related Party Transaction [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 700 | $ 700 |
Related Party Transactions (Bri
Related Party Transactions (Brightstar) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Related Party Transaction [Line Items] | |||||
Total revenue | $ 8,601 | $ 25,159 | |||
Cost of equipment sales | 1,734 | $ 1,673 | 4,521 | $ 4,622 | |
Brightstar [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 52 | 71 | 149 | 100 | |
Accounts Receivable, Related Parties | 134 | 134 | $ 188 | ||
Accounts Payable, Related Parties, Current | 37 | 37 | $ 88 | ||
Total revenue | 619 | 639 | 1,448 | 1,432 | |
Cost of equipment sales | $ 644 | $ 657 | $ 1,510 | $ 1,465 |
Guarantor Financial Informati_3
Guarantor Financial Information (Details) $ in Millions | Dec. 31, 2018USD ($) | Feb. 20, 2018USD ($) | Dec. 31, 2017USD ($) | Feb. 24, 2015USD ($) | Dec. 12, 2013USD ($) | Sep. 11, 2013USD ($) |
Condensed Financial Statements, Captions [Line Items] | ||||||
Ratio Of Total Indebtedness To Adjusted EBITDA | 2.5 | |||||
Non-Guarantor Subsidiaries [Member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Other Additional Capital | $ 1,100 | $ 4,700 | ||||
Notes Payable, Related Parties | $ 24,000 | |||||
Sprint Communications Inc. Guaranteed Notes due 2021 [Member] | Senior Notes [Member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Debt instrument face amount | $ 2,250 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | |||||
Sprint Corporation 7.875% [Member] | Senior Notes [Member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Debt instrument face amount | $ 4,250 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.875% | |||||
Sprint Corporation 7.125% [Member] [Member] | Senior Notes [Member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Debt instrument face amount | $ 2,500 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | |||||
Sprint Corporation 7.625% [Member] | Senior Notes [Member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Debt instrument face amount | $ 1,500 | $ 1,500 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.625% | |||||
Sprint Corporation [Member] | Senior Notes [Member] | ||||||
Condensed Financial Statements, Captions [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.625% |
Guarantor Financial Informati_4
Guarantor Financial Information (CONDENSED CONSOLIDATING BALANCE SHEET) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Jun. 30, 2018 | Apr. 01, 2018 | Mar. 31, 2018 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | |
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||||
Depreciation, network and other | $ 1,088 | $ 987 | $ 3,132 | $ 2,961 | |||||||
Current Assets | |||||||||||
Cash and Cash Equivalents | 6,191 | 4,495 | 6,191 | 4,495 | $ 6,610 | $ 2,942 | |||||
Short-term Investments | 632 | 632 | 2,354 | ||||||||
Accounts and notes receivable, net | 3,455 | 3,455 | $ 3,808 | 3,711 | |||||||
Due from Affiliate, Current | 0 | 0 | 0 | ||||||||
Device and accessory inventory | 919 | 919 | 979 | 1,003 | |||||||
Prepaid expenses and other current assets | 1,199 | 1,199 | 846 | 575 | |||||||
Total current assets | 12,396 | 12,396 | 14,253 | ||||||||
Investments in Subsidiaries | 0 | 0 | 0 | ||||||||
Property, plant and equipment, net | 21,422 | 21,422 | 19,925 | ||||||||
Costs to acquire a customer contract | 1,497 | 1,497 | 1,219 | ||||||||
Due from Consolidated Affiliate | 0 | 0 | 0 | ||||||||
Due from Affiliate, Noncurrent | 0 | 0 | 0 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||
Goodwill | 6,598 | 6,598 | 6,586 | ||||||||
FCC licenses and other | 41,448 | 41,448 | 41,309 | ||||||||
Definite-lived intangible assets, net | 1,915 | 1,915 | 2,465 | ||||||||
Other assets | 1,128 | 1,128 | 964 | 921 | |||||||
Total assets | 86,404 | 86,404 | 85,459 | ||||||||
Current Liabilities | |||||||||||
Accounts Payable, Current | 3,637 | 3,637 | 3,409 | ||||||||
Accrued expenses and other current liabilities | 3,467 | 3,467 | 3,927 | 3,962 | |||||||
Current portion of long-term debt, financing and capital lease obligations | 3,596 | 3,596 | 3,429 | ||||||||
Due to Affiliate, Current | 0 | 0 | 0 | ||||||||
Total current liabilities | 10,700 | 10,700 | 10,800 | ||||||||
Long-term debt, financing and capital lease obligations | 36,288 | 36,288 | 37,463 | ||||||||
Note due to consolidated affiliate | 0 | 0 | 0 | ||||||||
Deferred tax liabilities | 7,684 | 7,684 | 7,660 | 7,294 | |||||||
Other liabilities | 3,403 | 3,403 | $ 3,451 | 3,483 | |||||||
Due to affiliate | 0 | 0 | 0 | ||||||||
Total liabilities | 58,075 | 58,075 | 59,040 | ||||||||
Commitments and contingencies | |||||||||||
Total stockholders' equity | 28,270 | 28,270 | 26,356 | ||||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 59 | 59 | 63 | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 28,329 | 26,305 | 28,329 | 26,305 | $ 28,464 | $ 27,945 | 26,419 | $ 19,020 | $ 19,015 | 18,808 | |
Liabilities and Equity | 86,404 | 86,404 | 85,459 | ||||||||
Depreciation, equipment rentals | 1,137 | 990 | 3,454 | 2,732 | |||||||
Consolidation, Eliminations [Member] | |||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||||
Depreciation, network and other | 0 | 0 | 0 | 0 | |||||||
Current Assets | |||||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Short-term Investments | 0 | 0 | 0 | ||||||||
Accounts and notes receivable, net | (710) | (710) | (347) | ||||||||
Due from Affiliate, Current | (424) | (424) | (424) | ||||||||
Device and accessory inventory | 0 | 0 | 0 | ||||||||
Prepaid expenses and other current assets | 0 | 0 | 0 | ||||||||
Total current assets | (1,134) | (1,134) | (771) | ||||||||
Investments in Subsidiaries | (47,297) | (47,297) | (45,136) | ||||||||
Property, plant and equipment, net | 0 | 0 | 0 | ||||||||
Costs to acquire a customer contract | 0 | 0 | |||||||||
Due from Consolidated Affiliate | (2,138) | (2,138) | (595) | ||||||||
Due from Affiliate, Noncurrent | (35,444) | (35,444) | (35,878) | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||
Goodwill | 0 | 0 | 0 | ||||||||
FCC licenses and other | 0 | 0 | 0 | ||||||||
Definite-lived intangible assets, net | 0 | 0 | 0 | ||||||||
Other assets | 0 | 0 | 0 | ||||||||
Total assets | (86,013) | (86,013) | (82,380) | ||||||||
Current Liabilities | |||||||||||
Accounts Payable, Current | 0 | 0 | 0 | ||||||||
Accrued expenses and other current liabilities | (710) | (710) | (347) | ||||||||
Current portion of long-term debt, financing and capital lease obligations | 0 | 0 | 0 | ||||||||
Due to Affiliate, Current | (424) | (424) | (424) | ||||||||
Total current liabilities | (1,134) | (1,134) | (771) | ||||||||
Long-term debt, financing and capital lease obligations | 0 | 0 | 0 | ||||||||
Note due to consolidated affiliate | (35,444) | (35,444) | (35,878) | ||||||||
Deferred tax liabilities | 0 | 0 | 0 | ||||||||
Other liabilities | 0 | 0 | 0 | ||||||||
Due to affiliate | (2,138) | (2,138) | (595) | ||||||||
Total liabilities | (38,716) | (38,716) | (37,244) | ||||||||
Commitments and contingencies | |||||||||||
Total stockholders' equity | (47,297) | (47,297) | (45,136) | ||||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (47,297) | (47,297) | (45,136) | ||||||||
Liabilities and Equity | (86,013) | (86,013) | (82,380) | ||||||||
Depreciation, equipment rentals | 0 | 0 | 0 | 0 | |||||||
Parent Company [Member] | |||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||||
Depreciation, network and other | 0 | 0 | 0 | 0 | |||||||
Current Assets | |||||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Short-term Investments | 0 | 0 | 0 | ||||||||
Accounts and notes receivable, net | 233 | 233 | 99 | ||||||||
Due from Affiliate, Current | 0 | 0 | 0 | ||||||||
Device and accessory inventory | 0 | 0 | 0 | ||||||||
Prepaid expenses and other current assets | 0 | 0 | 5 | ||||||||
Total current assets | 233 | 233 | 104 | ||||||||
Investments in Subsidiaries | 27,983 | 27,983 | 26,351 | ||||||||
Property, plant and equipment, net | 0 | 0 | 0 | ||||||||
Costs to acquire a customer contract | 0 | 0 | |||||||||
Due from Consolidated Affiliate | 289 | 289 | 1 | ||||||||
Due from Affiliate, Noncurrent | 11,877 | 11,877 | 11,887 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||
Goodwill | 0 | 0 | 0 | ||||||||
FCC licenses and other | 0 | 0 | 0 | ||||||||
Definite-lived intangible assets, net | 0 | 0 | 0 | ||||||||
Other assets | 0 | 0 | 0 | ||||||||
Total assets | 40,382 | 40,382 | 38,343 | ||||||||
Current Liabilities | |||||||||||
Accounts Payable, Current | 0 | 0 | 0 | ||||||||
Accrued expenses and other current liabilities | 235 | 235 | 100 | ||||||||
Current portion of long-term debt, financing and capital lease obligations | 0 | 0 | 0 | ||||||||
Due to Affiliate, Current | 0 | 0 | 0 | ||||||||
Total current liabilities | 235 | 235 | 100 | ||||||||
Long-term debt, financing and capital lease obligations | 11,877 | 11,877 | 11,887 | ||||||||
Note due to consolidated affiliate | 0 | 0 | 0 | ||||||||
Deferred tax liabilities | 0 | 0 | 0 | ||||||||
Other liabilities | 0 | 0 | 0 | ||||||||
Due to affiliate | 0 | 0 | 0 | ||||||||
Total liabilities | 12,112 | 12,112 | 11,987 | ||||||||
Commitments and contingencies | |||||||||||
Total stockholders' equity | 28,270 | 28,270 | 26,356 | ||||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 28,270 | 28,270 | 26,356 | ||||||||
Liabilities and Equity | 40,382 | 40,382 | 38,343 | ||||||||
Depreciation, equipment rentals | 0 | 0 | 0 | 0 | |||||||
Guarantor Subsidiaries [Member] | |||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||||
Depreciation, network and other | 0 | 0 | 0 | 0 | |||||||
Current Assets | |||||||||||
Cash and Cash Equivalents | 5,800 | 3,948 | 5,800 | 3,948 | 6,222 | 2,461 | |||||
Short-term Investments | 632 | 632 | 2,354 | ||||||||
Accounts and notes receivable, net | 477 | 477 | 248 | ||||||||
Due from Affiliate, Current | 424 | 424 | 424 | ||||||||
Device and accessory inventory | 0 | 0 | 0 | ||||||||
Prepaid expenses and other current assets | 15 | 15 | 9 | ||||||||
Total current assets | 7,348 | 7,348 | 9,257 | ||||||||
Investments in Subsidiaries | 19,314 | 19,314 | 18,785 | ||||||||
Property, plant and equipment, net | 0 | 0 | 0 | ||||||||
Costs to acquire a customer contract | 0 | 0 | |||||||||
Due from Consolidated Affiliate | 1,849 | 1,849 | 0 | ||||||||
Due from Affiliate, Noncurrent | 23,567 | 23,567 | 23,991 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||
Goodwill | 0 | 0 | 0 | ||||||||
FCC licenses and other | 0 | 0 | 0 | ||||||||
Definite-lived intangible assets, net | 0 | 0 | 0 | ||||||||
Other assets | 70 | 70 | 185 | ||||||||
Total assets | 52,148 | 52,148 | 52,218 | ||||||||
Current Liabilities | |||||||||||
Accounts Payable, Current | 0 | 0 | 0 | ||||||||
Accrued expenses and other current liabilities | 349 | 349 | 341 | ||||||||
Current portion of long-term debt, financing and capital lease obligations | 351 | 351 | 1,832 | ||||||||
Due to Affiliate, Current | 0 | 0 | 0 | ||||||||
Total current liabilities | 700 | 700 | 2,173 | ||||||||
Long-term debt, financing and capital lease obligations | 10,837 | 10,837 | 10,381 | ||||||||
Note due to consolidated affiliate | 11,877 | 11,877 | 11,887 | ||||||||
Deferred tax liabilities | 0 | 0 | 0 | ||||||||
Other liabilities | 751 | 751 | 831 | ||||||||
Due to affiliate | 0 | 0 | 595 | ||||||||
Total liabilities | 24,165 | 24,165 | 25,867 | ||||||||
Commitments and contingencies | |||||||||||
Total stockholders' equity | 27,983 | 27,983 | 26,351 | ||||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 0 | 0 | 0 | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 27,983 | 27,983 | 26,351 | ||||||||
Liabilities and Equity | 52,148 | 52,148 | 52,218 | ||||||||
Depreciation, equipment rentals | 0 | 0 | 0 | 0 | |||||||
Non-Guarantor Subsidiaries [Member] | |||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||||
Depreciation, network and other | 1,088 | 987 | 3,132 | 2,961 | |||||||
Other Additional Capital | 1,100 | 4,700 | 1,100 | 4,700 | |||||||
Current Assets | |||||||||||
Cash and Cash Equivalents | 391 | 547 | 391 | 547 | 388 | $ 481 | |||||
Short-term Investments | 0 | 0 | 0 | ||||||||
Accounts and notes receivable, net | 3,455 | 3,455 | 3,711 | ||||||||
Due from Affiliate, Current | 0 | 0 | 0 | ||||||||
Device and accessory inventory | 919 | 919 | 1,003 | ||||||||
Prepaid expenses and other current assets | 1,184 | 1,184 | 561 | ||||||||
Total current assets | 5,949 | 5,949 | 5,663 | ||||||||
Investments in Subsidiaries | 0 | 0 | 0 | ||||||||
Property, plant and equipment, net | 21,422 | 21,422 | 19,925 | ||||||||
Costs to acquire a customer contract | 1,497 | 1,497 | |||||||||
Due from Consolidated Affiliate | 0 | 0 | 594 | ||||||||
Due from Affiliate, Noncurrent | 0 | 0 | 0 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||
Goodwill | 6,598 | 6,598 | 6,586 | ||||||||
FCC licenses and other | 41,448 | 41,448 | 41,309 | ||||||||
Definite-lived intangible assets, net | 1,915 | 1,915 | 2,465 | ||||||||
Other assets | 1,058 | 1,058 | 736 | ||||||||
Total assets | 79,887 | 79,887 | 77,278 | ||||||||
Current Liabilities | |||||||||||
Accounts Payable, Current | 3,637 | 3,637 | 3,409 | ||||||||
Accrued expenses and other current liabilities | 3,593 | 3,593 | 3,868 | ||||||||
Current portion of long-term debt, financing and capital lease obligations | 3,245 | 3,245 | 1,597 | ||||||||
Due to Affiliate, Current | 424 | 424 | 424 | ||||||||
Total current liabilities | 10,899 | 10,899 | 9,298 | ||||||||
Long-term debt, financing and capital lease obligations | 13,574 | 13,574 | 15,195 | ||||||||
Note due to consolidated affiliate | 23,567 | 23,567 | 23,991 | ||||||||
Deferred tax liabilities | 7,684 | 7,684 | 7,294 | ||||||||
Other liabilities | 2,652 | 2,652 | 2,652 | ||||||||
Due to affiliate | 2,138 | 2,138 | 0 | ||||||||
Total liabilities | 60,514 | 60,514 | 58,430 | ||||||||
Commitments and contingencies | |||||||||||
Total stockholders' equity | 19,314 | 19,314 | 18,785 | ||||||||
Stockholders' Equity Attributable to Noncontrolling Interest | 59 | 59 | 63 | ||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 19,373 | 19,373 | 18,848 | ||||||||
Liabilities and Equity | 79,887 | 79,887 | $ 77,278 | ||||||||
Depreciation, equipment rentals | $ 1,137 | $ 990 | $ 3,454 | $ 2,732 |
Guarantor Financial Informati_5
Guarantor Financial Information (CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | $ 8,601,000 | $ 8,239,000 | $ 25,159,000 | $ 24,323,000 |
Service revenue | 8,601,000 | 25,159,000 | ||
Revenue, equipment sales, net | 1,589,000 | 1,262,000 | 4,180,000 | 3,443,000 |
Revenue, equipment rentals, net | 1,313,000 | 1,047,000 | 3,778,000 | 2,912,000 |
Cost of Services (exclusive of depreciation and amortization included below) | 1,648,000 | 1,733,000 | 5,019,000 | 5,140,000 |
Cost of equipment sales | 1,734,000 | 1,673,000 | 4,521,000 | 4,622,000 |
Cost of equipment rentals | 182,000 | 123,000 | 457,000 | 347,000 |
Net operating expenses | ||||
Selling, general and administrative | 2,003,000 | 2,108,000 | 5,731,000 | 6,059,000 |
Severance and exit costs | (30,000) | (63,000) | (13,000) | |
Depreciation, network and other | 1,088,000 | 987,000 | 3,132,000 | 2,961,000 |
Depreciation, equipment rentals | 1,137,000 | 990,000 | 3,454,000 | 2,732,000 |
Amortization | 145,000 | 196,000 | 475,000 | 628,000 |
Other, net | 185,000 | (298,000) | 298,000 | (657,000) |
Total costs and expenses | 8,122,000 | 7,512,000 | 23,087,000 | 21,832,000 |
Operating Income | 479,000 | 727,000 | 2,072,000 | 2,491,000 |
Other (expense) income | ||||
Interest Income | 38,000 | 14,000 | 129,000 | 66,000 |
Interest Expense | (664,000) | (581,000) | (1,934,000) | (1,789,000) |
(Losses) earnings of Subsidiaries | 0 | 0 | 0 | 0 |
Other nonoperating income (expense), excluding interest income | (6,000) | (56,000) | 24,000 | (116,000) |
Nonoperating Expense | (632,000) | (623,000) | (1,781,000) | (1,839,000) |
Loss (income) before income taxes | (153,000) | 104,000 | 291,000 | 652,000 |
Income tax benefit | 8,000 | 7,052,000 | (56,000) | 6,662,000 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (145,000) | 7,156,000 | 235,000 | 7,314,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 4,000 | 6,000 | (4,000) | 6,000 |
Net Income (Loss) Attributable to Parent | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Other Comprehensive Income (Loss), Net of Tax | (25,000) | 26,000 | (20,000) | 38,000 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (170,000) | 7,182,000 | 215,000 | 7,352,000 |
Consolidation, Eliminations [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Revenue, equipment sales, net | 0 | 0 | 0 | 0 |
Revenue, equipment rentals, net | 0 | 0 | 0 | 0 |
Cost of Services (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Cost of equipment sales | 0 | 0 | 0 | 0 |
Cost of equipment rentals | 0 | 0 | 0 | 0 |
Net operating expenses | ||||
Selling, general and administrative | 0 | 0 | 0 | 0 |
Depreciation, network and other | 0 | 0 | 0 | 0 |
Depreciation, equipment rentals | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total costs and expenses | 0 | 0 | 0 | 0 |
Operating Income | 0 | 0 | 0 | 0 |
Other (expense) income | ||||
Interest Income | (904,000) | (643,000) | (2,699,000) | (1,320,000) |
Interest Expense | 904,000 | 643,000 | 2,699,000 | 1,320,000 |
(Losses) earnings of Subsidiaries | 210,000 | (14,250,000) | (568,000) | (15,042,000) |
Other nonoperating income (expense), excluding interest income | 0 | 0 | 0 | 0 |
Nonoperating Expense | 210,000 | (14,250,000) | (568,000) | (15,042,000) |
Loss (income) before income taxes | 210,000 | (14,250,000) | (568,000) | (15,042,000) |
Income tax benefit | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 210,000 | (14,250,000) | (568,000) | (15,042,000) |
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | 210,000 | (14,250,000) | (568,000) | (15,042,000) |
Other Comprehensive Income (Loss), Net of Tax | 25,000 | (32,000) | 30,000 | (56,000) |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 235,000 | (14,282,000) | (538,000) | (15,098,000) |
Parent Company [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Revenue, equipment sales, net | 0 | 0 | 0 | 0 |
Revenue, equipment rentals, net | 0 | 0 | 0 | 0 |
Cost of Services (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Cost of equipment sales | 0 | 0 | 0 | 0 |
Cost of equipment rentals | 0 | 0 | 0 | 0 |
Net operating expenses | ||||
Selling, general and administrative | 0 | 0 | 0 | 0 |
Depreciation, network and other | 0 | 0 | 0 | 0 |
Depreciation, equipment rentals | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total costs and expenses | 0 | 0 | 0 | 0 |
Operating Income | 0 | 0 | 0 | 0 |
Other (expense) income | ||||
Interest Income | 227,000 | 198,000 | 679,000 | 593,000 |
Interest Expense | (227,000) | (198,000) | (679,000) | (593,000) |
(Losses) earnings of Subsidiaries | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Other nonoperating income (expense), excluding interest income | 0 | 0 | 0 | 0 |
Nonoperating Expense | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Loss (income) before income taxes | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Income tax benefit | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Other Comprehensive Income (Loss), Net of Tax | (25,000) | 26,000 | (20,000) | 38,000 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (166,000) | 7,188,000 | 211,000 | 7,358,000 |
Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 0 | 0 | 0 | 0 |
Revenue, equipment sales, net | 0 | 0 | 0 | 0 |
Revenue, equipment rentals, net | 0 | 0 | 0 | 0 |
Cost of Services (exclusive of depreciation and amortization included below) | 0 | 0 | 0 | 0 |
Cost of equipment sales | 0 | 0 | 0 | 0 |
Cost of equipment rentals | 0 | 0 | 0 | 0 |
Net operating expenses | ||||
Selling, general and administrative | 0 | 0 | 0 | 0 |
Depreciation, network and other | 0 | 0 | 0 | 0 |
Depreciation, equipment rentals | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | (55,000) |
Total costs and expenses | 0 | 0 | 0 | (55,000) |
Operating Income | 0 | 0 | 0 | 55,000 |
Other (expense) income | ||||
Interest Income | 540,000 | 458,000 | 1,632,000 | 783,000 |
Interest Expense | (609,000) | (382,000) | (1,755,000) | (1,171,000) |
(Losses) earnings of Subsidiaries | (69,000) | 7,088,000 | 337,000 | 7,722,000 |
Other nonoperating income (expense), excluding interest income | (3,000) | (2,000) | 17,000 | (69,000) |
Nonoperating Expense | (141,000) | 7,162,000 | 231,000 | 7,265,000 |
Loss (income) before income taxes | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Income tax benefit | 0 | 0 | 0 | 0 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | (141,000) | 7,162,000 | 231,000 | 7,320,000 |
Other Comprehensive Income (Loss), Net of Tax | (25,000) | 26,000 | (20,000) | 38,000 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (166,000) | 7,188,000 | 211,000 | 7,358,000 |
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net operating revenues | 8,601,000 | 8,239,000 | 25,159,000 | 24,323,000 |
Revenue, equipment sales, net | 1,589,000 | 1,262,000 | 4,180,000 | 3,443,000 |
Revenue, equipment rentals, net | 1,313,000 | 1,047,000 | 3,778,000 | 2,912,000 |
Cost of Services (exclusive of depreciation and amortization included below) | 1,648,000 | 1,733,000 | 5,019,000 | 5,140,000 |
Cost of equipment sales | 1,734,000 | 1,673,000 | 4,521,000 | 4,622,000 |
Cost of equipment rentals | 182,000 | 123,000 | 457,000 | 347,000 |
Net operating expenses | ||||
Selling, general and administrative | 2,003,000 | 2,108,000 | 5,731,000 | 6,059,000 |
Depreciation, network and other | 1,088,000 | 987,000 | 3,132,000 | 2,961,000 |
Depreciation, equipment rentals | 1,137,000 | 990,000 | 3,454,000 | 2,732,000 |
Amortization | 145,000 | 196,000 | 475,000 | 628,000 |
Other, net | 185,000 | (298,000) | 298,000 | (602,000) |
Total costs and expenses | 8,122,000 | 7,512,000 | 23,087,000 | 21,887,000 |
Operating Income | 479,000 | 727,000 | 2,072,000 | 2,436,000 |
Other (expense) income | ||||
Interest Income | 175,000 | 1,000 | 517,000 | 10,000 |
Interest Expense | (732,000) | (644,000) | (2,199,000) | (1,345,000) |
(Losses) earnings of Subsidiaries | 0 | 0 | 0 | 0 |
Other nonoperating income (expense), excluding interest income | (3,000) | (54,000) | 7,000 | (47,000) |
Nonoperating Expense | (560,000) | (697,000) | (1,675,000) | (1,382,000) |
Loss (income) before income taxes | (81,000) | 30,000 | 397,000 | 1,054,000 |
Income tax benefit | 8,000 | 7,052,000 | (56,000) | 6,662,000 |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | (73,000) | 7,082,000 | 341,000 | 7,716,000 |
Net Income (Loss) Attributable to Noncontrolling Interest | 4,000 | 6,000 | (4,000) | 6,000 |
Net Income (Loss) Attributable to Parent | (69,000) | 7,088,000 | 337,000 | 7,722,000 |
Other Comprehensive Income (Loss), Net of Tax | 0 | 6,000 | (10,000) | 18,000 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | (73,000) | 7,088,000 | 331,000 | 7,734,000 |
Services [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Service revenue | 5,699,000 | 5,930,000 | 17,201,000 | 17,968,000 |
Services [Member] | Consolidation, Eliminations [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Services [Member] | Parent Company [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Services [Member] | Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Services [Member] | Non-Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Service revenue | $ 5,699,000 | $ 5,930,000 | $ 17,201,000 | $ 17,968,000 |
Guarantor Financial Informati_6
Guarantor Financial Information (CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS) (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities | ||||
Net Cash Provided by Operating Activities | $ 7,582 | $ 7,409 | ||
Cash flows from investing activities | ||||
Capital expenditures - network and other | (3,814) | (2,539) | ||
Capital expenditures - leased devices | (5,739) | (5,533) | ||
Expenditures relating to FCC licenses | (145) | (92) | ||
Proceeds from sales and maturities of short-term investments | 6,619 | 7,113 | ||
Payments to Acquire Short-term Investments | (5,152) | (1,842) | ||
Increase (decrease) due from consolidated affiliate from investing activities | 0 | 0 | ||
Proceeds from sales of assets and FCC Licenses | 416 | 367 | ||
Proceeds from Sale and Collection of Receivables | 223 | 909 | ||
Proceeds from Collection of Advance to Affiliate | 0 | |||
Payments for (Proceeds from) Other Investing Activities | 52 | (1) | ||
Net Cash Used in Investing Activities | (7,430) | (1,616) | ||
Cash flows from financing activities | ||||
Proceeds from debt and financings | 6,416 | 3,073 | ||
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | (6,937) | (7,159) | ||
Debt financing costs | (286) | (19) | ||
Increase (decrease) due from/to consolidated affiliates from financing activities | 0 | 0 | ||
Repayments of intercompany note advance from parent | 0 | 0 | ||
Other, net | 0 | (18) | ||
Net cash provided by (used in) financing activities | (526) | (4,240) | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 1,553 | |||
Cash, Cash Equivalents, Restricted Cash, Restricted Cash Equivalents, Period Increase (Decrease) | (374) | 1,553 | ||
Cash and cash equivalents, end of period | 6,191 | 4,495 | ||
Call premiums paid on debt redemptions | 0 | (129) | ||
Proceeds from Issuance of Common Stock | 281 | 12 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 6,285 | 4,495 | $ 6,659 | $ 2,942 |
Proceeds from Life Insurance Policy | 110 | 2 | ||
Proceeds from Related Party Debt | 0 | |||
Parent Company [Member] | ||||
Cash flows from operating activities | ||||
Net Cash Provided by Operating Activities | 0 | 0 | ||
Cash flows from investing activities | ||||
Capital expenditures - network and other | 0 | 0 | ||
Capital expenditures - leased devices | 0 | 0 | ||
Expenditures relating to FCC licenses | 0 | 0 | ||
Proceeds from sales and maturities of short-term investments | 0 | 0 | ||
Payments to Acquire Short-term Investments | 0 | 0 | ||
Increase (decrease) due from consolidated affiliate from investing activities | (253) | 0 | ||
Proceeds from sales of assets and FCC Licenses | 0 | 0 | ||
Proceeds from Sale and Collection of Receivables | 0 | 0 | ||
Proceeds from Collection of Advance to Affiliate | 0 | |||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | ||
Net Cash Used in Investing Activities | (253) | 0 | ||
Cash flows from financing activities | ||||
Proceeds from debt and financings | 0 | 0 | ||
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | 0 | 0 | ||
Debt financing costs | (28) | 0 | ||
Increase (decrease) due from/to consolidated affiliates from financing activities | 0 | 0 | ||
Repayments of intercompany note advance from parent | 0 | 0 | ||
Other, net | 0 | |||
Net cash provided by (used in) financing activities | 253 | 0 | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | |||
Cash, Cash Equivalents, Restricted Cash, Restricted Cash Equivalents, Period Increase (Decrease) | 0 | |||
Cash and cash equivalents, end of period | 0 | 0 | ||
Call premiums paid on debt redemptions | 0 | |||
Proceeds from Issuance of Common Stock | 281 | 0 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 0 | 0 | ||
Proceeds from Life Insurance Policy | 0 | 0 | ||
Proceeds from Related Party Debt | 0 | |||
Guarantor Subsidiaries [Member] | ||||
Cash flows from operating activities | ||||
Net Cash Provided by Operating Activities | (408) | (1,016) | ||
Cash flows from investing activities | ||||
Capital expenditures - network and other | 0 | 0 | ||
Capital expenditures - leased devices | 0 | 0 | ||
Expenditures relating to FCC licenses | 0 | 0 | ||
Proceeds from sales and maturities of short-term investments | 6,619 | 7,113 | ||
Payments to Acquire Short-term Investments | (5,152) | (1,842) | ||
Increase (decrease) due from consolidated affiliate from investing activities | (1,285) | 0 | ||
Proceeds from sales of assets and FCC Licenses | 0 | 0 | ||
Proceeds from Sale and Collection of Receivables | 0 | 0 | ||
Proceeds from Collection of Advance to Affiliate | 424 | |||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | ||
Net Cash Used in Investing Activities | 716 | 5,848 | ||
Cash flows from financing activities | ||||
Proceeds from debt and financings | 1,100 | 0 | ||
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | (1,783) | (2,530) | ||
Debt financing costs | (47) | (9) | ||
Increase (decrease) due from/to consolidated affiliates from financing activities | 0 | (689) | ||
Repayments of intercompany note advance from parent | 0 | 0 | ||
Other, net | 0 | |||
Net cash provided by (used in) financing activities | (730) | (3,345) | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 1,487 | |||
Cash, Cash Equivalents, Restricted Cash, Restricted Cash Equivalents, Period Increase (Decrease) | (422) | |||
Cash and cash equivalents, end of period | 5,800 | 3,948 | ||
Call premiums paid on debt redemptions | (129) | |||
Proceeds from Issuance of Common Stock | 0 | 12 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 5,800 | 6,222 | ||
Proceeds from Life Insurance Policy | 110 | 2 | ||
Proceeds from Related Party Debt | 575 | |||
Non-Guarantor Subsidiaries [Member] | ||||
Cash flows from operating activities | ||||
Net Cash Provided by Operating Activities | 7,990 | 8,425 | ||
Cash flows from investing activities | ||||
Capital expenditures - network and other | (3,814) | (2,539) | ||
Capital expenditures - leased devices | (5,739) | (5,533) | ||
Expenditures relating to FCC licenses | (145) | (92) | ||
Proceeds from sales and maturities of short-term investments | 0 | 0 | ||
Payments to Acquire Short-term Investments | 0 | 0 | ||
Increase (decrease) due from consolidated affiliate from investing activities | 0 | 689 | ||
Proceeds from sales of assets and FCC Licenses | 416 | 367 | ||
Proceeds from Sale and Collection of Receivables | 223 | 909 | ||
Proceeds from Collection of Advance to Affiliate | 0 | |||
Payments for (Proceeds from) Other Investing Activities | 52 | (1) | ||
Net Cash Used in Investing Activities | (9,007) | (6,200) | ||
Cash flows from financing activities | ||||
Proceeds from debt and financings | 5,316 | 3,073 | ||
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | (5,154) | (4,629) | ||
Debt financing costs | (211) | (10) | ||
Increase (decrease) due from/to consolidated affiliates from financing activities | 1,538 | 0 | ||
Repayments of intercompany note advance from parent | (424) | (575) | ||
Other, net | (18) | |||
Net cash provided by (used in) financing activities | 1,065 | (2,159) | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 66 | |||
Cash, Cash Equivalents, Restricted Cash, Restricted Cash Equivalents, Period Increase (Decrease) | 48 | |||
Cash and cash equivalents, end of period | 391 | 547 | ||
Call premiums paid on debt redemptions | 0 | |||
Proceeds from Issuance of Common Stock | 0 | 0 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 485 | 437 | ||
Proceeds from Life Insurance Policy | 0 | 0 | ||
Proceeds from Related Party Debt | 0 | |||
Consolidation, Eliminations [Member] | ||||
Cash flows from operating activities | ||||
Net Cash Provided by Operating Activities | 0 | 0 | ||
Cash flows from investing activities | ||||
Capital expenditures - network and other | 0 | 0 | ||
Capital expenditures - leased devices | 0 | 0 | ||
Expenditures relating to FCC licenses | 0 | 0 | ||
Proceeds from sales and maturities of short-term investments | 0 | 0 | ||
Payments to Acquire Short-term Investments | 0 | 0 | ||
Increase (decrease) due from consolidated affiliate from investing activities | 1,538 | (689) | ||
Proceeds from sales of assets and FCC Licenses | 0 | 0 | ||
Proceeds from Sale and Collection of Receivables | 0 | 0 | ||
Proceeds from Collection of Advance to Affiliate | (424) | |||
Payments for (Proceeds from) Other Investing Activities | 0 | 0 | ||
Net Cash Used in Investing Activities | 1,114 | (1,264) | ||
Cash flows from financing activities | ||||
Proceeds from debt and financings | 0 | 0 | ||
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | 0 | 0 | ||
Debt financing costs | 0 | 0 | ||
Increase (decrease) due from/to consolidated affiliates from financing activities | (1,538) | 689 | ||
Repayments of intercompany note advance from parent | 424 | 575 | ||
Other, net | 0 | |||
Net cash provided by (used in) financing activities | (1,114) | 1,264 | ||
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | |||
Cash, Cash Equivalents, Restricted Cash, Restricted Cash Equivalents, Period Increase (Decrease) | 0 | |||
Cash and cash equivalents, end of period | 0 | 0 | ||
Call premiums paid on debt redemptions | 0 | |||
Proceeds from Issuance of Common Stock | 0 | 0 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 0 | $ 0 | ||
Proceeds from Life Insurance Policy | $ 0 | 0 | ||
Proceeds from Related Party Debt | $ (575) |
Additional Financial Informat_3
Additional Financial Information (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and Cash Equivalents | $ 6,191 | $ 6,610 | $ 4,495 | $ 2,942 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 6,285 | 6,659 | $ 4,495 | $ 2,942 |
Checks Issued In Excess Of Associated Bank Balances But Not Yet Presented For Collection | 76 | 66 | ||
Other Assets [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Restricted Cash, Current | $ 94 | $ 49 |