DIRECTV 2004 Annual Report Download - page 126
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THE DIRECTV GROUP, INC.
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT
CONDENSED STATEMENTS OF OPERATIONS
(Parent Company Only)
Years Ended December 31,
2004
2003
2002
(Dollars in Millions)
Operating Costs and Expenses
General and administrative expenses
$
227.8
$
253.6
$
58.5
Total operating costs and expenses
227.8
253.6
58.5
Operating loss
(227.8
)
(253.6
)
(58.5
)
Interest income
46.5
91.6
160.6
Interest expense
(4.6
)
(49.8
)
(106.7
)
Equity in net losses of subsidiaries
(1,342.4
)
(366.8
)
(1,261.6
)
Reorganization expense
(8.6
)
(7.0
)
—
Other, net
(683.8
)
37.2
524.6
Loss Before Income Taxes
(2,220.7
)
(548.4
)
(741.6
)
Income tax (expense) benefit
271.5
186.6
(152.2
)
Net Loss
$
(1,949.2
)
$
(361.8
)
$
(893.8
)
CONDENSED BALANCE SHEETS
(Parent Company Only)
December 31,
2004
2003
(Dollars in Millions)
ASSETS
Current Assets
Cash and cash equivalents
$
2,702.4
$
1,280.1
Accounts and interest receivables from subsidiaries
26.3
48.0
Deferred income taxes
30.7
22.1
Prepaid expenses and other
34.4
374.5
Total Current Assets
2,793.8
1,724.7
Deferred Income Taxes
178.8
91.1
Loans Receivable from Subsidiaries
875.0
786.2
Investments in Subsidiaries
4,116.3
7,078.7
Other Assets
155.1
440.7
Total Assets
$
8,119.0
$
10,121.4
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable, accrued liabilities and other
$
169.9
$
99.1
Total Current Liabilities
169.9
99.1
Other Liabilities and Deferred Credits
442.0
391.2
Commitments and Contingencies
Stockholders’ Equity
7,507.1
9,631.1
Total Liabilities and Stockholders’ Equity
$
8,119.0
$
10,121.4
Reference should be made to the Notes to the Condensed Financial Statements.
116