DIRECTV 2002 Annual Report Download - page 77

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HUGHES ELECTRONICS CORPORATION
CONSOLIDATED BALANCE SHEETS
December 31,
2002 2001
(Dollars in Millions)
ASSETS
Current Assets
Cash and cash equivalents ................................................ $ 1,128.6 $ 700.1
Accounts and notes receivable, net of allowances of $102.4 and $113.6 ........... 1,133.9 1,090.5
Contracts in process ..................................................... 165.9 153.1
Inventories ............................................................. 230.3 360.1
Deferred income taxes ................................................... 97.7 118.9
Prepaid expenses and other ............................................... 900.0 918.4
Total Current Assets .............................................. 3,656.4 3,341.1
Satellites, net ............................................................... 4,922.6 4,806.6
Property,net ............................................................... 2,017.4 2,197.8
Goodwill, net ............................................................... 5,775.2 6,496.6
Intangible Assets, net ........................................................ 644.7 660.2
Net Investment in Sales-type Leases ........................................... 161.9 227.0
Investments and Other Assets ................................................. 706.9 1,480.8
Total Assets .................................................... $17,885.1 $19,210.1
LIABILITIES AND STOCKHOLDER’S EQUITY
Current Liabilities
Accounts payable ....................................................... $ 1,039.0 $ 1,227.5
Deferred revenues ....................................................... 166.4 178.5
Short-term borrowings and current portion of long-term debt .................... 727.8 1,658.5
Accrued liabilities and other ............................................... 1,269.9 1,342.0
Total Current Liabilities ........................................... 3,203.1 4,406.5
Long-Term Debt ............................................................ 2,390.0 988.8
Other Liabilities and Deferred Credits ........................................... 1,178.4 1,465.1
Deferred Income Taxes ...................................................... 581.2 746.5
Commitments and Contingencies
MinorityInterests............................................................ 555.3 531.3
Stockholder’s Equity
Capital stock and additional paid-in capital ................................... 10,151.8 9,561.2
Preferred stock, Series A ................................................. — 1,498.4
Convertible preferred stock, Series B ....................................... 914.1 —
Retainedearnings(deficit) ................................................ (1,027.1) (86.4)
Subtotal Stockholder’s Equity .................................................. 10,038.8 10,973.2
Accumulated Other Comprehensive Income (Loss)
Minimum pension liability adjustment ...................................... (32.3) (17.3)
Accumulated unrealized gains (losses) on securities and derivatives ............ (3.3) 192.6
Accumulated foreign currency translation adjustments ........................ (26.1) (76.6)
Accumulated other comprehensive income (loss) ............................. (61.7) 98.7
Total Stockholder’s Equity ......................................... 9,977.1 11,071.9
Total Liabilities and Stockholder’s Equity ............................. $17,885.1 $19,210.1
Reference should be made to the Notes to the Consolidated Financial Statements.
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