DIRECTV 2005 Annual Report Download - page 123

Download and view the complete annual report

Please find page 123 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.

Page out of 146

  • 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.
SUPPLEMENTARY DATA
Selected Quarterly Data (Unaudited) 1st 2nd 3rd 4th
(Dollars in Millions, Except Per Share Amounts)
2005 Quarters
Revenues ..................................... $3,147.9 $3,187.9 $ 3,233.2 $3,595.5
Income (Loss) from Continuing Operations Before Income
Taxes and Minority Interests ..................... (89.1) 210.5 139.1 219.8
Income tax (expense) benefit ....................... 43.7 (75.6) (41.7) (99.6)
Minority interests in net (earnings) losses of subsidiaries . . . 4.0 (4.7) (2.8) 1.0
Income (loss) from continuing operations .............. (41.4) 130.2 94.6 121.2
Income from discontinued operations, net of taxes ....... — 31.3 — —
Net Income (Loss) .............................. $ (41.4) $ 161.5 $ 94.6 $ 121.2
Basic and diluted earnings (loss) per common share from
continuing operations .......................... $ (0.03) $ 0.10 $ 0.07 $ 0.09
2004 Quarters
Revenues ..................................... $2,493.2 $2,642.8 $ 2,861.9 $3,362.1
Income (Loss) from Continuing Operations Before Income
Taxes, Minority Interests and Cumulative Effect of
Accounting Change (1) ......................... 323.0 (40.7) (1,553.1) (489.3)
Income tax (expense) benefit ....................... (147.1) 20.1 624.3 193.3
Minority interests in net earnings of subsidiaries ......... (0.7) 3.0 3.2 7.6
Income (loss) from continuing operations before cumulative
effect of accounting change ...................... 175.2 (17.6) (925.6) (288.4)
Income (loss) from discontinued operations, net of taxes . . . (503.5) 4.3 (83.0) (0.1)
Income (loss) before cumulative effect of accounting
changes ..................................... (328.3) (13.3) (1,008.6) (288.5)
Cumulative effect of accounting change, net of taxes ...... (310.5) — — —
Net Income (Loss) .............................. $(638.8) $ (13.3) $(1,008.6) $ (288.5)
Basic and diluted earnings (loss) per common share from
continuing operations before cumulative effect of
accounting change ............................. $ 0.12 $ (0.01) $ (0.67) $ (0.21)
(1) Included as part of ‘‘Income (loss) from continuing operations before income taxes, minority
interests and cumulative effect of accounting changes’’ are the following: for the first quarter of
2004 is a $387.1 million gain related to the sale of approximately 19 million shares of XM Satellite
Radio common stock; for the third quarter of 2004 is a $1,466.1 million charge related to the
assets of the SPACEWAY program for which management determined that an impairment charge
was required; and for the fourth quarter of 2004 are a $190.6 million write-down of HNS assets
related to the sale of HNS to SkyTerra and a $36.5 million charge principally for asset write-downs
related to the on-going shut-down of DIRECTV Latin America’s Mexico operations
For additional information regarding discontinued operations and cumulative effect of accounting
changes, see Part II, Item 8 of this Annual Report.
110