DIRECTV 2005 Annual Report Download - page 135
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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,
2005 2004 2003
(Dollars in Millions)
Operating Costs and Expenses
General and administrative expenses ...................... $ 91.2 $ 227.8 $ 253.6
Total Operating Costs and Expenses ........................ 91.2 227.8 253.6
Operating Loss ....................................... (91.2) (227.8) (253.6)
Interest income ....................................... 109.8 46.5 91.6
Interest expense ....................................... (4.7) (4.6) (49.8)
Equity in net earnings (losses) of subsidiaries ................. 464.9 (1,342.4) (366.8)
Reorganization expense ................................. — (8.6) (7.0)
Other, net ........................................... (1.0) (683.8) 37.2
Income (loss) Before Income Taxes ......................... 477.8 (2,220.7) (548.4)
Income tax (expense) benefit ............................. (141.9) 271.5 186.6
Net Income (Loss) ..................................... $ 335.9 $(1,949.2) $ (361.8)
CONDENSED BALANCE SHEETS
(Parent Company Only)
December 31,
2005 2004
(Dollars in Millions)
ASSETS
Current Assets
Cash and cash equivalents ....................................... $2,435.0 $ 2,179.8
Short-term investments ......................................... 683.2 522.6
Accounts and interest receivables from subsidiaries .................... 41.3 26.3
Deferred income taxes ......................................... 13.8 30.7
Prepaid expenses and other ...................................... 199.6 34.4
Total Current Assets ......................................... 3,372.9 2,793.8
Deferred Income Taxes .......................................... 164.9 178.8
Loans Receivable from Subsidiaries ................................. — 875.0
Investments in Subsidiaries ........................................ 4,717.1 4,116.3
Other Assets .................................................. 126.1 155.1
Total Assets ................................................... $8,381.0 $ 8,119.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable, accrued liabilities and other ........................ $ 100.8 $ 169.9
Total Current Liabilities .......................................... 100.8 169.9
Other Liabilities and Deferred Credits ............................... 340.2 442.0
Commitments and Contingencies
Stockholders’ Equity ............................................ 7,940.0 7,507.1
Total Liabilities and Stockholders’ Equity ............................. $8,381.0 $ 8,119.0
Reference should be made to the Notes to the Condensed Financial Statements.
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