-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WinJP2bmyxSmhZdksdbMRKZcz688A5/9vNF/i11QlA6xbxaTyE3eXNjRNyJo+vG1 eRE4bRahivr1ah3Yrrc0fQ== 0000101830-02-000028.txt : 20020812 0000101830-02-000028.hdr.sgml : 20020812 20020809174913 ACCESSION NUMBER: 0000101830-02-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020809 ITEM INFORMATION: Other events FILED AS OF DATE: 20020812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPRINT CORP CENTRAL INDEX KEY: 0000101830 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 480457967 STATE OF INCORPORATION: KS FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04721 FILM NUMBER: 02725577 BUSINESS ADDRESS: STREET 1: 2330 SHAWNEE MISSION PKWY CITY: WESTWOOD STATE: KS ZIP: 66205 BUSINESS PHONE: 9136243000 MAIL ADDRESS: STREET 1: 2330 SHAWNEE MISSION PKWY CITY: WESTWOOD STATE: KS ZIP: 66205 FORMER COMPANY: FORMER CONFORMED NAME: UNITED UTILITIES INC DATE OF NAME CHANGE: 19731011 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TELECOMMUNICATIONS INC DATE OF NAME CHANGE: 19920316 8-K 1 spr8k_aug92002.txt SPRINT CORP 8-K FAS142 PRO FORMA INFORMATION SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 9, 2002 SPRINT CORPORATION (Exact name of Registrant as specified in its charter) Kansas 1-04721 48-0457967 - -------------------------------------------------------------------------------- (State of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 6200 Sprint Parkway, Overland Park, Kansas 66251 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (913) 624-3000 ----------------------------- (Former name or former address, if changed since last report) P. O. Box 11315, Kansas City, Missouri 64112 -------------------------------------------- (Mailing address of principal executive offices) Item 5. Other Events Sprint Corporation (Sprint) adopted SFAS No. 142, "Goodwill and Other Intangible Assets" on January 1, 2002. This standard prescribes the accounting treatment for both identifiable intangibles and goodwill after initial recognition. Upon adoption of the standard, amortization of goodwill and indefinite life intangibles ceased and accumulated amortization as of December 31, 2001 reduced the carrying value of these assets. Periodic impairment testing of these assets is now required. Definite life intangibles continue to be amortized over their useful lives. Sprint identified spectrum licenses, which include related microwave relocation costs, and its trademark as indefinite life intangibles. Concurrent with adoption, Sprint evaluated for impairment its goodwill and indefinite life intangibles in accordance with the standard's guidance and determined these assets were not impaired. The following pro forma table adjusts net income (loss) and basic and diluted earnings (loss) per share in 2001, 2000 and 1999 to exclude amortization, net of any related tax effects on goodwill and indefinite lived intangibles.
Sprint Consolidated FON Group PCS Group ------------------------ -------------------------- ---------------------------- Years Ended December 31, 2001 2000 1999 2001 2000 1999 2001 2000 1999 ------------------------ -------------------------- ---------------------------- Reported net income (loss) $(1,401) $ 93 $(935) $ (147) $1,964 $1,567 $(1,254) $(1,871) $(2,502) Add back: Goodwill amortization 126 150 141 1 26 26 125 124 115 Spectrum licenses amortization 69 76 59 16 23 6 53 53 53 ------------------------ -------------------------- ---------------------------- Adjusted net income (loss) (1,206) 319 (735) (130) 2,013 1,599 (1,076) (1,694) (2,334) Preferred stock dividends paid (received) (7) (7) (8) 7 7 7 (14) (14) (15) ------------------------ -------------------------- ---------------------------- Adjusted earnings (loss) applicable to common stock $(1,213) $312 $(743) $ (123) $2,020 $1,606 $(1,090) $(1,708) $(2,349) Diluted earnings (loss) per share Reported diluted earnings (loss) per share $(0.16) $ 2.21 $ 1.78 $ (1.28) $ (1.95) $ (2.73) Add back: Goodwill amortization - 0.03 0.03 0.13 0.13 0.12 Spectrum licenses amortization 0.02 0.02 - 0.05 0.05 0.06 -------------------------- ---------------------------- Adjusted diluted earnings (loss) per share $(0.14) $ 2.26 $ 1.81 $ (1.10) $ (1.77) $ (2.55) Diluted weighted average shares outstanding 886.8 892.4 887.2 989.7 966.5 920.4 Basic earnings (loss) per share Reported basic earnings (loss) per share $(0.16) $ 2.24 $ 1.81 $ (1.28) $ (1.95) $ (2.73) Add back: Goodwill amortization - 0.03 0.03 0.13 0.13 0.12 Spectrum licenses amortization 0.02 0.02 0.01 0.05 0.05 0.06 -------------------------- ---------------------------- Adjusted basic earnings (loss) per share $(0.14) $ 2.29 $ 1.85 $ (1.10) $ (1.77) $ (2.55) Basic weighted average shares outstanding 886.8 880.9 868.0 989.7 966.5 920.4
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. SPRINT CORPORATION Date: August 9, 2002 By: /s/ Michael T. Hyde -------------------------------- Michael T. Hyde Assistant Secretary -----END PRIVACY-ENHANCED MESSAGE-----