DIRECTV 2005 Annual Report Download - page 110
Download and view the complete annual report
Please find page 110 of the 2005 DIRECTV annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
 |
 |
THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS —(continued)
Immediately prior to the News Corporation transactions, we adjusted the number of shares of
common and Class B common stock to assure that the stock outstanding and the stock representing
GM’s interest accurately reflected the interests to be sold directly by GM to News Corporation and the
interests to be distributed to holders of GM Class H common stock. After the adjustment, there were
1,109,270,842 shares of our common stock then outstanding. We adjusted the number of shares of
Class B common stock to equal 274,319,607 shares, representing GM’s 19.8% interest in us.
On December 22, 2003, GM split us off by distributing our common stock to the holders of GM
Class H common stock in exchange for the 1,109,270,842 GM Class H common shares then outstanding
on a one-for-one basis. Simultaneously, GM sold its 19.8% interest in us (represented by 274,319,607
shares of Class B common stock) to News Corporation in exchange for cash and News Corporation
Preferred ADSs. We then converted the shares of Class B common stock to shares of our common
stock on a one-for-one basis.
Accumulated Other Comprehensive Loss
As of December 31,
2005 2004
(Dollars in Millions)
Minimum pension liability adjustment ................................ $(34.4) $(41.4)
Accumulated unrealized gains on securities ............................ 23.1 22.0
Accumulated foreign currency translation adjustments .................... (2.7) (5.3)
Total Accumulated Other Comprehensive Loss ...................... $(14.0) $(24.7)
Other Comprehensive Income
The following represents changes in the components of OCI, net of taxes, as of December 31:
2005 2004 2003
Tax Tax
Pre-tax Tax Net Pre-tax (Benefit) Net Pre-tax (Benefit) Net
Amount Expense Amount Amount Expense Amount Amount Expense Amount
(Dollars in Millions)
Minimum pension liability
adjustments ............. $11.4 $4.4 $7.0 $ 11.4 $ 4.0 $ 7.4 $(24.4) $ (7.9) $ (16.5)
Foreign currency translation
adjustments:
Unrealized gains ........... 2.6 — 2.6 14.8 — 14.8 6.0 — 6.0
Unrealized holding gains
(losses) on securities:
Unrealized holding gains
(losses) ................ 1.1 0.4 0.7 (9.1) (3.5) (5.6) 446.8 171.5 275.3
Less: reclassification
adjustment for net losses
(gains) recognized during the
period ................. 0.6 0.2 0.4 (243.8) — (243.8) (0.6) — (0.6)
97