The document discusses wireless carrier market share and financial metrics from 2004 to 2005. It shows Sprint Nextel and Verizon gained market share while Cingular and T-Mobile lost share. Adjusted OIBDA as a percentage of revenues increased for most major carriers from 2004 to 2005. Capital expenditures decreased for Sprint but increased for Cingular and T-Mobile.

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# L
Long Other &
For the Quarter Ended December 31, 2005 Consolidated Wireless Distance Local Elim inations
$ 671 $ 512 $ 102 $ 407 $ (350)
Operating income (loss)
Special items 423 3 (15) 87 348
1,094 515 87 494 (2)
Adjusted operating income
Depreciation and amortization 2,438 2,043 136 259 -
$ 3,532 $ 2,558 $ 223 $ 753 $ (2)
Adjusted OIBDA
Special items (423)
$ 3,109
OIBDA
Long Other &
For the Quarter Ended December 31, 2004 Consolidated Wireless Distance Local Elim inations
$ 970 $ 406 $ 109 $ 455 $ -
Operating income (loss)
Special items 50 11 15 24 -
1,020 417 124 479 -
Adjusted operating income (loss)
Depreciation and amortization 1,033 649 111 274 (1)
$ 2,053 $ 1,066 $ 235 $ 753 $ (1)
Adjusted OIBDA
Long Other &
For the Year Ended December 31, 2005 Consolidated Wireless Distance Local Elim inations
$ 3,826 $ 2,173 $ 512 $ 1,758 $ (617)
Operating income (loss)
Special items 844 105 30 93 616
4,670 2,278 542 1,851 (1)
Adjusted operating income
Depreciation and amortization 6,269 4,693 489 1,090 (3)
$ 10,939 $ 6,971 $ 1,031 $ 2,941 $ (4)
Adjusted OIBDA
Long Other &
For the Year Ended December 31, 2004 Consolidated Wireless Distance Local Elim inations
$ (303) $ 1,552 $ (3,589) $ 1,736 $ (2)
Operating income (loss)
Special items 3,751 25 3,653 73 -
3,448 1,577 64 1,809 (2)
Adjusted operating income (loss)
Depreciation and amortization 4,720 2,563 1,071 1,089 (3)
$ 8,168 $ 4,140 $ 1,135 $ 2,898 $ (5)
Adjusted OIBDA
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33. +E # 8
# L
Year Ended
December 31, December 31,
2005 2004
$ 1,586 $ (1,420)
Earnings (Loss) Available to Common Shareholders
Earnings allocated to participating securities - 9
Preferred stock dividends paid 7 7
1,593 (1,404)
Net Income (Loss)
Cumulative effect of change in accounting principle 16 -
1,609 (1,404)
Income (Loss) from Continuing Operations
Special items (net of taxes)
Restructuring and asset impairments 78 2,342
Merger integration expense 456 -
Hurricane charges (excluding asset impairments) 68 21
Net gains on investment activities and equity in earnings (106) -
Premium (Discount) on early retirement of debt 22 115
MCI (WorldCom) settlement - (9)
Motorola consent fee 50 -
$ 2,177 $ 1,065
Adjusted Net Income
Amortization (net of taxes) 2,014 1,984
$ 4,191 $ 3,049
Adjusted Net Income before Amortization
$ 0.54 $ (0.50)
Diluted Earnings (Loss) Per Share
Cumulative effect of change in accounting principle - -
0.54 (0.50)
Earnings (Loss) Per Share from Continuing Operations
Special items 0.19 0.86
$ 0.73 $ 0.36
Adjusted Earnings Per Share
Amortization (net of taxes) 0.68 0.68
$ 1.41 $ 1.04
Adjusted Earnings Per Share before Amortization
*
!quot;# $ quot;

34. +E # 8
# L
Quarter Ended Year Ended
December 31, December 31, December 31, December 31,
2005 2004 2005 2004
Special Item Reconciliations
$ 512 $ 435 $ 2,288 $ 1,523
Operating income (loss)
Special items: -
Restructuring and asset impairments (17) 11 20 30
Hurricane charges (excluding asset impairments) 20 - 85 -
MCI bad debt - - - (5)
515 446 2,393 1,548
Adjusted operating income *
Depreciation and amortization 2,043 1,863 7,826 7,394
$ 2,558 $ 2,309 $ 10,219 $ 8,942
Adjusted OIBDA *
6.9% 6.6% 8.0% 6.0%
Operating income margin
34.6% 34.8% 35.7% 35.5%
Adjusted OIBDA Margin *
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!quot;# $ quot;

35. +E # 8
# L
Quarter Ended Year Ended Quarter Ended Year Ended
December 31, December 31, December 31, December 31,
2005 2005 2004 2004
Wireless Pro Forma
Adjusted OIBDA* $ 2,558 $ 10,219 $ 2,309 $ 8,942
Service, wholesale, affiliate and other net operating revenues 7,388 28,631 6,634 25,183
Adjusted OIBDA margin* 34.6% 35.7% 34.8% 35.5%
Operating income $ 512 $ 2,288 $ 435 $ 1,523
Operating income margin 6.9% 8.0% 6.6% 6.0%
Consolidated Pro Forma
Adjusted OIBDA* $ 3,532
Total net operating revenues 11,296
Adjusted OIBDA margin* 31.3%
Operating income $ 671
Operating income margin 5.9%
*
!quot;# $ quot;

36. +E # 8
# L
Consolidated Free Cash Flow
Year Ended
December 31, December 31,
2005 2004
$ 10,939 $ 8,168
Adjusted OIBDA
Adjust for special items (844) (3,751)
Other operating activities, net 583 2,208
Capital expenditures (5,057) (3,980)
Cash acquired in Nextel merger, net of cash paid 1,183 -
Purchase of US Unwired, net of cash acquired (968) -
Purchase of Gulf Coast Wireless, net of cash acquired (211) -
Purchase of Independent Wireless One, net of cash acquired (192) -
Dividends paid (523) (670)
Proceeds from sales of assets 648 77
Other investing activities, net (114) (55)
5,444 1,997
Free Cash Flow
Decrease in debt, net (1,170) (1,884)
Investments in debt securities, net (13) (98)
Proceeds from common stock issued 432 1,874
Other financing activities, net 33 -
$ 4,726 $ 1,889
Change in cash and equivalents - GAAP
Pro Forma Consolidated Statements of Operations
Year Ended
December 31, December 31,
2005 2004
$ 3,812 $ (332)
Operating income (loss)
Special items
Restructuring and asset impairments 125 3,731
Merger and integration expense 737 -
Hurricane charges (excluding asset impairments) 111 34
MCI settlement - (14)
4,785 3,419
Adjusted operating income
Depreciation and amortization 9,402 9,551
$ 14,187 $ 12,970
Adjusted OIBDA
*
!quot;# $ quot;

37. +E # 8
# L
Local as Previously
Local as Previously
Quarter Ended 12/31/2004 Reported
Quarter Ended 12/31/2005 Reported
$ 1,509
Net Operating Revenues
$ 1,488
Net Operating Revenues
Operating Expenses
Operating Expenses
Costs of services and products 465
Costs of services and products 482
Selling, general and administrative 287
Selling, general and administrative 251
Depreciation and amortization 273
Depreciation and amortization 261
Restructuring and asset impairments 20
Restructuring and asset impairments 72
Total operating expenses 1,045
Total operating expenses 1,066
$ 464
Operating Income (Loss)
$ 422
Operating Income (Loss)
$ 761
Adjusted OIBDA
$ 763
Adjusted OIBDA
$ 329
Capex
$ 314
Capex
$ 464
Operating Income (Loss)
$ 422
Operating Income (Loss)
Special Items 24
Special Items 80
$ 488
Adjusted Operating Income (Loss)
$ 502
Adjusted Operating Income (Loss)
Depreciation and amortization 273
Depreciation and amortization 261
$ 761
Adjusted OIBDA
$ 763
Adjusted OIBDA
51% 50%
Adjusted OIBDA Margin Adjusted OIBDA Margin
31%
Operating Income Margin
28%
Operating Income Margin
*=
!quot;# $ quot;

38. +E # 8
# L
Local as Previously Local as Previously
Year to Date 12/31/2005 Reported Year to Date 12/31/2004 Reported
$ 5,964
Net Operating Revenues $ 6,021
Net Operating Revenues
Operating Expenses Operating Expenses
Costs of services and products 1,922 Costs of services and products 1,877
Selling, general and administrative 1,077 Selling, general and administrative 1,254
Depreciation and amortization 1,094 Depreciation and amortization 1,084
Restructuring and asset impairments 75 Restructuring and asset impairments 40
Total operating expenses 4,168 Total operating expenses 4,255
$ 1,796
Operating Income (Loss) $ 1,766
Operating Income (Loss)
$ 2,976
Adjusted OIBDA $ 2,923
Adjusted OIBDA
$ 880
Capex $ 1,042
Capex
$ 1,766
Operating Income (Loss)
$ 1,796
Operating Income (Loss)
Special Items 73
Special Items 86
$ 1,839
Adjusted Operating Income (Loss)
$ 1,882
Adjusted Operating Income (Loss)
Depreciation and amortization 1,084
Depreciation and amortization 1,094 $ 2,923
Adjusted OIBDA
$ 2,976
Adjusted OIBDA
49%
Adjusted OIBDA Margin
50% 29%
Adjusted OIBDA Margin Operating Income Margin
30%
Operating Income Margin
*
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