DIRECTV 2006 Annual Report Download - page 106

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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS —(continued)
The investment policy is periodically reviewed by us and a designated third-party fiduciary for
investment matters. We establish and administer the policy in a manner so as to comply at all times
with applicable government regulations.
There were no shares of our common stock included in plan assets at December 31, 2006 and
2005.
Cash Flows
Contributions
We expect to contribute approximately $2 million to our qualified pension plans and $12 million to
our nonqualified pension plans in 2007.
Estimated Future Benefit Payments
We expect the following benefit payments, which reflect expected future service, as appropriate, to
be paid by the plans during the years ending December 31:
Estimated Future Benefit
Payments
Pension Other Postretirement
Benefits Benefits
(Dollars in Millions)
2007 ................................................... $ 48.3 $ 3.3
2008 ................................................... 43.6 3.3
2009 ................................................... 39.4 3.2
2010 ................................................... 33.3 3.1
2011 ................................................... 29.6 2.9
2012-2016 ............................................... 160.5 10.6
We maintain 401(k) plans for qualified employees. We match a portion of our employee
contributions and our match amounted to $7.9 million in 2006, $9.9 million in 2005 and $13.3 million in
2004.
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. Our certificate of incorporation provides 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, 2006 and 2005, there were no shares outstanding of the Class B common stock, excess
stock or preferred stock.
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