DIRECTV 2004 Annual Report Download - page 98

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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (continued)
Cash Flows
Contributions
We expect to contribute approximately $14.5 million and $34.8 million to our qualified and nonqualified pension plans,
respectively, in 2005.
Estimated Future Benefit Payments
We expect the following benefit payments, which reflect expected future service, as appropriate, to be paid during the years ending December 31:
Estimated Future Benefit Payments
Pension
Benefits
Other
Benefits
(Dollars in Millions)
2005
$
153.0
$
2.7
2006
37.0
2.7
2007
28.7
2.8
2008
25.4
2.7
2009
22.7
2.6
2010-2014
121.3
11.7
We maintain 401(k) plans for qualified employees. We match a portion of our employee contributions and our match amounted
to $13.3 million, $8.2 million and $13.9 million in 2004, 2003 and 2002, respectively.
We have 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, we do not admit or otherwise acknowledge that such amounts or existing postretirement benefit plans of our
company (other than pensions) represent legally enforceable liabilities of us.
Note 12: Stockholders’ Equity
Capital Stock and Additional Paid-In Capital
We are a publicly-traded company with our common stock listed as “DTV” on the New York Stock Exchange. As part of the
News Corporation transactions completed on December 22, 2003, we amended our certificate of incorporation 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, 2004 and 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, we may repurchase common stock on the open market.
Prior to our split-off from GM on December 22, 2003, GM held all of our outstanding capital stock. GM Class H common stock
was a publicly-traded security of GM and was a “tracking stock” designed to provide holders with financial returns based on the
financial performance of our company.
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