DIRECTV 2003 Annual Report Download - page 100

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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (continued)
Cash Flows
Contributions
The Company expects to contribute approximately $17.5 million and $31.2 million to its qualified and
nonqualified pension plans, respectively, in 2004.
Estimated Future Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be
paid during the years ending December 31:
Estimated Future Benefit Payments
Pension
Benefits
Other
Benefits
(Dollars in Millions)
2004 .................................................... $101.4 $ 3.2
2005 .................................................... 38.3 3.1
2006 .................................................... 36.5 3.0
2007 .................................................... 28.7 3.1
2008 .................................................... 27.1 3.1
2009-2013 ................................................ 148.2 14.2
Expected payments in 2004 include anticipated payments to employees who were terminated in February
2004 as discussed more fully in Note 21.
The Company maintains 401(k) plans for qualified employees. A portion of employee contributions is
matched by the Company and the Company’s match amounted to $10.3 million, $15.7 million and $17.7 million
in 2003, 2002 and 2001, respectively.
The Company 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, the Company does not admit or otherwise acknowledge
that such amounts or existing postretirement benefit plans of the Company (other than pensions) represent legally
enforceable liabilities of the Company.
Note 11: Stockholders’ Equity
Capital Stock and Additional Paid-In Capital
The Company is a publicly-traded company with its common stock listed as “DTV” on the New York Stock
Exchange. As part of the News Corporation transactions completed on December 22, 2003, the Company’s
certificate of incorporation was amended to provide for the following capital stock: common stock, par value
$0.01 per share, 3,000,000,000 shares authorized; Class B common stock, par value $0.01 per share, 275,000,000
shares authorized; excess stock, par value $0.01 per share, 800,000,000 shares authorized; and preferred stock,
par value $0.01 per share, 9,000,000 shares authorized. As of December 31, 2003, there were no shares
outstanding of the Class B common stock, excess stock or preferred stock.
From time to time, in anticipation of exercises of stock options, the Company may repurchase common
stock on the open market.
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