Subject: [NEXTEL-1] NEXTEL COMMUNICATIONS INC - Quarterly Report (SEC form 10-Q)

From: [email-masked]
Date: Thu, 15 May 2003 03:44:50 -0400

Hmmmmmmmm........

Valuation and Recoverability of Intangible Assets. Intangible assets with indefinite useful lives represented about $6,804 million
of our $21,123 million in total assets as of March 31, 2003. Intangible assets with indefinite useful lives consist of our Federal
Communications Commission, or FCC, licenses and goodwill. In 2002, we ceased amortizing these assets, and we performed
initial and annual impairment tests of FCC licenses and goodwill as of January 1, 2002 and October 1, 2002, respectively. We
concluded that there was no impairment as the fair values of these intangible assets were greater than their carrying values.
Using a residual value approach, we measured the fair value of our 800 MHz and 900 MHz licenses by deducting the fair
values of our net assets as well as the fair values of certain unrecorded identified intangible assets, other than these FCC
licenses, from our reporting unit’s fair value, which was determined using a discounted cash 

flow analysis. The analysis was based on our long-term cash flow projections, discounted at our corporate weighted average
cost of capital. 

We have invested about $350 million in other FCC licenses that are currently not used in our network. We have pledged to
exchange these licenses along with other licenses in a proposal filed with the FCC. If we do not exchange these licenses in the
future, we have an alternative business plan for use of these licenses. If the alternative business plan is not realized, some of or
the entire recorded asset could become impaired. 

http://biz.yahoo.com/e/030514/nxtl10-q.html

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