DIRECTV 2003 Annual Report Download - page 126
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THE DIRECTV GROUP, INC.
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT
CONDENSED STATEMENTS OF INCOME
(Parent Company Only)
Years Ended December 31,
2003 2002 2001
(Dollars in Millions)
Operating Costs and Expenses
Selling, general and administrative expenses ......................... $253.6 $ 58.5 $ 98.5
Total operating costs and expenses ..................................... 253.6 58.5 98.5
Operating loss ..................................................... (253.6) (58.5) (98.5)
Interest income .................................................... 91.6 160.6 173.4
Interest expense .................................................... (49.8) (106.7) (43.2)
Equity in net losses of subsidiaries ..................................... (366.8) (1,261.6) (656.7)
Reorganization expense .............................................. (7.0) — —
Other,net ......................................................... 37.2 524.6 27.0
LossBeforeIncomeTaxes ........................................... (548.4) (741.6) (598.0)
Income tax (expense) benefit ......................................... 186.6 (152.2) (23.6)
NetLoss.......................................................... $(361.8) $ (893.8) $(621.6)
CONDENSED BALANCE SHEETS
(Parent Company only)
December 31,
2003 2002
(Dollars in Millions)
ASSETS
Current Assets
Cash and cash equivalents .............................................. $ 1,280.1 $ 239.0
Accounts and interest receivables from subsidiaries ......................... 48.0 27.1
Deferred income taxes ................................................. 22.1 121.4
Prepaidexpensesandother ............................................. 374.5 90.7
Total Current Assets .............................................. 1,724.7 478.2
Deferred Income Taxes .................................................... 91.1 —
Loans Receivable from Subsidiaries .......................................... 786.2 1,913.8
Investments in Subsidiaries ................................................. 7,078.7 8,824.3
Other Assets ............................................................ 440.7 216.6
Total Assets ............................................................. $10,121.4 $11,432.9
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable, accrued liabilities and other ............................. $ 99.1 $ 509.5
Current portion of long-term debt ........................................ — 506.3
Total Current Liabilities ........................................... 99.1 1,015.8
Other Liabilities and Deferred Credits ........................................ 391.2 398.1
Deferred Income Taxes .................................................... — 41.9
Commitments and Contingencies
Stockholders’ Equity ...................................................... 9,631.1 9,977.1
Total Liabilities and Stockholders’ Equity ..................................... $10,121.4 $11,432.9
Reference should be made to the Notes to the Condensed Financial Statements.
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