NEXTLINK COMMUNICATIONS INC/NEW
8-K/A, EX-99.2, 2000-08-21
TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE)
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CONCENTRIC NETWORK CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)
                     
December 31,
1998 1999
ASSETS
Current assets:
Cash and cash equivalents $ 98,988 $ 25,891
Short term investments 52,226 80,095
Current portion of restricted cash 19,125 144,060
Accounts receivable, net of allowances of $990 in 1998 and $1,419 in 1999 13,714 29,114
Note receivable — 16,000
Prepaid expenses and other current assets 3,058 10,049
Total current assets 187,111 305,209
Property and equipment:
Computer and telecommunications equipment 89,668 121,561
Software 5,427 11,653
Furniture and fixtures and leasehold improvements 11,357 18,403
106,452 151,617
Accumulated depreciation and amortization 42,184 68,723
64,268 82,894
Restricted cash, net of current portion 17,113 —
Goodwill and other intangible assets 20,364 70,627
Investments — 27,101
Other assets 9,401 11,963
Total assets $ 298,257 $ 497,794
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 26,342 $ 35,750
Accrued compensation and other employee benefits 2,024 3,866
Other current liabilities 4,559 5,655
Current portion of capital lease obligations 6,543 6,438
Deferred revenue 3,104 7,885
Total current liabilities 42,572 59,594
Capital lease obligations, net of current portion 10,434 6,774
Notes payable 146,021 146,642
Other liabilities — 1,770
Commitments and contingencies
Redeemable exchangeable preferred stock 156,105 179,521
Convertible redeemable preferred stock — 41,339
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value; issuable in series:
Authorized shares — 10,000 in 1998 and 1999
Issued and outstanding shares — none in 1998 and 1999 — —
Common stock, $0.001 par value; issuable in classes:
Authorized shares — 100,000 in 1998 and 1999
Issued and outstanding shares — 30,288 in 1998 and 45,427 in 1999 190,076 420,515

                     
December 31,
1998 1999
Accumulated deficit (246,055 ) (357,837 )
Deferred compensation (896 ) (524 )
Total stockholders’ equity (deficit) (56,875 ) 62,154
Total liabilities and stockholders’ equity (deficit) $ 298,257 $ 497,794

See accompanying notes.



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