DIRECTV 2002 Annual Report Download - page 75

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HUGHES ELECTRONICS CORPORATION
INDEPENDENT AUDITORS’ REPORT
To the Board of Directors of Hughes Electronics Corporation:
We have audited the accompanying Consolidated Balance Sheets of Hughes Electronics
Corporation as of December 31, 2002 and 2001, and the related Consolidated Statements of
Operations and Available Separate Consolidated Net Income (Loss), Consolidated Statements of
Changes in Stockholder’s Equity and Consolidated Statements of Cash Flows for each of the three
years in the period ended December 31, 2002. Our audits also included the financial statement
schedules listed in Item 15. These financial statements and the financial statement schedules are the
responsibility of Hughes Electronics Corporation’s management. Our responsibility is to express an
opinion on these financial statements and the financial statement schedules based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the
United States of America. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the
financial position of Hughes Electronics Corporation at December 31, 2002 and 2001, and the results
of its operations and its cash flows for each of the three years in the period ended December 31, 2002,
in conformity with accounting principles generally accepted in the United States of America. Also, in
our opinion, the financial statement schedules, when considered in relation to the basic consolidated
financial statements taken as a whole, present fairly, in all material respects, the information set forth
therein.
As discussed in Note 3 of the Notes to the Consolidated Financial Statements, effective January 1,
2002, Hughes Electronics Corporation changed its method of accounting for goodwill and other
intangible assets to conform to Statement of Financial Accounting Standards No. 142, “Goodwill and
Other Intangible Assets.”
/s/ D
ELOITTE
&T
OUCHE
LLP
Deloitte & Touche LLP
Los Angeles, California
January 15, 2003
(March 6, 2003 as to Note 22)
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