DIRECTV 2003 Annual Report Download - page 70

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THE DIRECTV GROUP, INC.
CONSOLIDATED BALANCE SHEETS
December 31,
2003 2002
(Dollars in Millions,
Except Share Data)
ASSETS
Current Assets
Cash and cash equivalents .............................................. $ 2,263.3 $ 1,128.6
Accounts and notes receivable, net of allowances of $121.9 and $102.4 .......... 1,205.7 1,133.9
Contracts in process .................................................. 99.8 165.9
Inventories, net ...................................................... 271.1 230.3
Prepaidexpensesandother ............................................. 1,095.0 997.7
Total Current Assets .............................................. 4,934.9 3,656.4
Satellites, net ............................................................ 4,594.7 4,922.6
Property, net ............................................................ 2,016.8 2,017.4
Goodwill, net ............................................................ 5,783.6 5,775.2
Intangible Assets, net ..................................................... 571.7 644.7
Net Investment in Sales-type Leases .......................................... 116.7 161.9
Investments and Other Assets ............................................... 935.8 706.9
Total Assets ..................................................... $18,954.2 $17,885.1
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable .................................................... $ 1,401.4 $ 1,039.0
Deferred revenues .................................................... 170.3 166.4
Short-term borrowings and current portion of long-term debt .................. 229.7 727.8
Accrued liabilities and other ............................................ 1,059.0 1,269.9
Total Current Liabilities ........................................... 2,860.4 3,203.1
Long-Term Debt ......................................................... 4,131.3 2,390.0
Other Liabilities and Deferred Credits ........................................ 1,091.9 1,178.4
Deferred Income Taxes .................................................... 647.1 581.2
Commitments and Contingencies
Minority Interests ........................................................ 592.4 555.3
Stockholders’ Equity
Convertible preferred stock ............................................. — 914.1
Common stock and additional paid-in capital—$0.01 par value, 3,000,000,000
shares authorized, 1,383,649,451 shares issued and outstanding at December 31,
2003; $0.01 par value, 1,000 shares authorized, 200 shares issued and
outstanding at December 31, 2002 ..................................... 10,817.5 10,151.8
Retained earnings (deficit) ............................................. (1,388.9) (1,027.1)
Subtotal Stockholders’ Equity ............................................... 9,428.6 10,038.8
Accumulated Other Comprehensive Income (Loss)
Minimum pension liability adjustment .................................. (48.8) (32.3)
Accumulated unrealized gains (losses) on securities and derivatives ........... 271.4 (3.3)
Accumulated foreign currency translation adjustments ..................... (20.1) (26.1)
Total Accumulated Other Comprehensive Income (Loss) ..................... 202.5 (61.7)
Total Stockholders’ Equity ......................................... 9,631.1 9,977.1
Total Liabilities and Stockholders’ Equity ............................. $18,954.2 $17,885.1
Reference should be made to the Notes to the Consolidated Financial Statements.
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