T-Mobile Investor Day Presentation Deck
Our Free Cash Flow for the year ended December 31, 2020 and current guidance ranges for Free Cash Flow are reconciled to Net cash provided by operating activities as follows:
Historic
FY 2020
Current
FY 2021
Mid-Term
2023
(in millions)
Net cash provided by operating activities
Cash purchases of property and equipment
Proceeds related to beneficial interests in securitization transactions (3)
T-Mobile US, Inc.
Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures
(Unaudited)
Cash payments for debt prepayment or debt extinguishment costs
Free Cash Flow
1)
2)
3)
Gross cash paid for the settlement of interest rate swaps
Free Cash Flow, excluding gross payments for the settlement of interest rate swaps $
$
(in millions)
Free Cash Flow
Our previous guidance ranges for Free Cash Flow as of April 2018 were as follows:
8,640
(11,034)
3,134
(82)
658
2,343
3,001 $ 4,900
$ 13,000
(11,700)
3,700
(100)
1) 6-year period starting with the year when the merger was expected to close, which was 2019.
4,900
$ 13,500
(12,000)
3,900
5,400
5,400
10,000
6-year period starting with the year when the merger closed, which was 2020. Thus, this guidance includes actual Free Cash Flow for the year ended December 31, 2020 and five additional years of guidance.
The mid-point of the guidance range is used for purposes of this reconciliation.
Free Cash Flow guidance does not assume any material net cash inflows from securitization.
Mid-Term
3 to 4 Years
$ 18,300 $ 20,100
(9,000)
(10,000)
3,700
3,900
13,000
14,000
$ 13,000 $ 14,000
11,000
$ 103,900
(62,000)
21,000
(200)
Cumulative
2020-2025 (¹)
Cumulative
6 years (1)
$55,000
$ 106,800
(66,000)
62,700
2,300
$65,000
S
22,000
(100)
$
$
Long-Term
2026 (2)
Long-Term
7 to 8 Years
16,000 $
23,700
(9,500)
3,800
18,000
18,000
18,000
This guidance was prepared based on internal forecasts and models prior to the Company's adoption of ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash
Receipts and Cash Payments" which impacted the presentation of (1) cash flows related to beneficial interests in securitization transactions resulting in a reclassification of cash inflows from
Operating activities to Investing activities and (2) cash payments for debt prepayment or debt extinguishment costs resulting in a reclassification of cash outflows from Operating activities
to Financing activities. As a result, at the time the guidance was publicly released in April 2018, T-Mobile was not able to forecast GAAP Net cash provided by operating activities on a
forward-looking basis without unreasonable efforts due to the Company's adoption of ASU 2016-15 on January 1, 2018.
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