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) November 12, 1998
SPRINT CORPORATION
(Exact name of Registrant as specified in its charter)
Kansas 0-4721 48-0457967
(State of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
2330 Shawnee Mission Parkway, Westwood, Kansas 66205
(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)
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Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 99 Computation of Supplemental Pro Forma
Ratios of Earnings To Fixed Charges
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 thereunto duly authorized.
SPRINT CORPORATION
By /s/ Michael T. Hyde
Michael T. Hyde
Assistant Secretary
Dated: November 12, 1998
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EXHIBIT INDEX
Exhibit
Number Description Page
Exhibit 99 Computation of Supplemental Pro Forma
Ratios of Earnings To Fixed Charges
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EXHIBIT 99
SPRINT CORPORATION
COMPUTATION OF SUPPLEMENTAL PRO FORMA
RATIOS OF EARNINGS TO FIXED CHARGES
The following schedule computes the ratios of earnings to fixed
charges of the Registrant, on a pro forma basis giving effect to
the proposed acquisition of 100% of the ownership and control of
the wireless telephony businesses currently operating under the
Sprint PCS brand name (other than a 40.8% minority interest in the
wireless telephone business that serves the Los Angeles, San Diego
and Las Vegas areas) and to the assumed refinancing of existing
indebtedness with the proceeds from the offering of $5 billion of
Notes pursuant to the Prospectus Supplement dated November 10,
1998, to the Prospectus dated October 23, 1998, forming a part of
Registration Statement No. 333-65649.
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Year
Nine Months Ended
Ended December
September 30, 31,
1998 1997
(in millions)
Pro forma earnings
Income (loss) from continuing $ (34.9) $ 410.2
operations before taxes
Capitalized interest (125.6) (198.5)
Equity in losses of less than 50 81.3 212.8
percent owned entities
Minority interest in majority-owned (99.0) (81.1)
subsidiaries
Subtotal (178.2) 343.4
Pro forma fixed charges
Interest charges 573.3 484.8
Interest factor of operating rents 132.8 151.8
Pre-tax cost of preferred stock 0.1 0.3
dividends of subsidiaries
Total pro forma fixed charges 706.2 636.9
Pro forma earnings, as adjusted $ 528.0 $ 980.3
Pro forma ratio of earnings to fixed (a) 1.54
charges
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(a) Pro forma earnings, as adjusted, were inadequate to cover
fixed charges by $178.2 million for the nine months ended
September 30, 1998.
The above ratios were computed by dividing pro forma fixed
charges into the sum of pro forma earnings (after certain
adjustments) and pro forma fixed charges. Pro forma earnings
include income from continuing operations before taxes, plus
equity in the net losses of entities that are less than 50% owned
by the Registrant, less minority interest and capitalized
interest. Pro forma fixed charges include (1) interest on all
debt of continuing operations (including amortization of debt
issuance costs), (2) the interest component of operating rents,
and (3) the pre-tax cost of subsidiary preferred stock dividends.
