DIRECTV 2002 Annual Report Download - page 38

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HUGHES ELECTRONICS CORPORATION
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
SUMMARY DATA
Years Ended December 31,
2002 2001 2000
(Dollars in Millions)
Consolidated Statements of Operations Data:
Total revenues ............................................. $8,934.9 $8,264.0 $7,287.6
Total operating costs and expenses ............................ 9,334.0 9,021.8 7,641.7
Operatingloss .............................................. (399.1) (757.8) (354.1)
Other income (expenses), net ................................. 113.8 (231.9) (461.5)
Income tax benefit .......................................... 94.4 325.6 406.1
Minority interests in net (earnings) losses of subsidiaries ........... (21.6) 49.9 54.1
Loss from continuing operations before cumulative effect of
accounting changes ....................................... (212.5) (614.2) (355.4)
Income from discontinued operations, net of taxes ................ — — 36.1
Gain on sale of discontinued operations, net of taxes .............. — — 1,132.3
Cumulative effect of accounting changes, net of taxes ............. (681.3) (7.4) —
Net income (loss) ........................................... (893.8) (621.6) 813.0
Adjustment to exclude the effect of GM purchase accounting ....... — 3.3 16.9
Preferred stock dividends ..................................... (46.9) (96.4) (97.0)
Earnings (Loss) Used for Computation of Available Separate
Consolidated Net Income (Loss) ............................. $ (940.7) $ (714.7) $ 732.9
December 31,
2002 2001
(Dollars in Millions)
Consolidated Balance Sheet Data:
Cash and cash equivalents .......................................... $ 1,128.6 $ 700.1
Total current assets ................................................ 3,656.4 3,341.1
Total assets ....................................................... 17,885.1 19,210.1
Total current liabilities ............................................... 3,203.1 4,406.5
Long-term debt .................................................... 2,390.0 988.8
Minorityinterests ................................................... 555.3 531.3
Preferredstock .................................................... 914.1 1,498.4
Total stockholder’s equity ............................................ 9,977.1 11,071.9
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