DIRECTV 2002 Annual Report Download - page 103

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HUGHES ELECTRONICS CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (continued)
A one-percentage point change in assumed health care cost trend rates would have the following
effects on other postretirement benefits:
1-Percentage
Point Increase
1-Percentage
Point Decrease
(Dollars in Millions)
Effect on total of service and interest cost components ............... $0.2 $(0.2)
Effect on postretirement benefit obligation .......................... 2.5 (2.3)
Hughes maintains 401(k) plans for qualified employees. A portion of employee contributions are
matched by Hughes and amounted to $15.7 million, $17.7 million and $15.1 million in 2002, 2001 and
2000, respectively.
Hughes has disclosed certain amounts associated with estimated future postretirement benefits
other than pensions and characterized such amounts as “other postretirement benefit obligation.”
Notwithstanding the recording of such amounts and the use of these terms, Hughes does not admit or
otherwise acknowledge that such amounts or existing postretirement benefit plans of Hughes (other
than pensions) represent legally enforceable liabilities of Hughes.
Note 12: Stockholder’s Equity
GM holds all of the outstanding common stock of Hughes, which consists of 200 shares of
$0.01 par value common stock.
The following represents changes in the components of OCI, net of taxes, as of December 31:
2002 2001 2000
Pre-tax
Amount
Tax
Benefit
Net
Amount
Pre-tax
Amount
Tax
(Benefit)
Expense
Net
Amount
Pre-tax
Amount
Tax
Benefit
Net
Amount
(Dollars in Millions)
Minimum pension liability
adjustments ................... $ (25.2) $(10.2) $(15.0) $ (2.0) $ (0.8) $ (1.2) $(14.8) $(6.0) $(8.8)
Foreign currency translation
adjustments:
Unrealized gains (losses) ........ 1.6 — 1.6 (60.7) — (60.7) (25.9) — (25.9)
Less: reclassification adjustment
for net losses recognized during
theperiod ................... 48.9 — 48.9 — — — — — —
Unrealized losses on securities and
derivatives:
Unrealized holding losses ........ (162.6) (65.8) (96.8) (203.2) (82.2) (121.0) (351.0) (142.0) (209.0)
Less: reclassification adjustment
for net (gains) losses recognized
duringtheperiod ............. (162.8) (63.7) (99.1) 95.2 38.6 56.6 — — —
Note 13: Incentive Plans
Under the Hughes Electronics Corporation Incentive Plan (the “Plan”), as approved by the GM
Board of Directors in 1999, shares, rights or options to acquire up to 159 million shares of GM Class H
93