DIRECTV 2006 Annual Report Download - page 132

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THE DIRECTV GROUP, INC.
SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT
CONDENSED STATEMENTS OF CASH FLOWS
(Parent Company Only)
Years Ended December 31,
2006 2005 2004
(Dollars in Millions)
Cash Flows from Operating Activities
Net Cash Used in Operating Activities ................... $ (256.2) $ (369.9) $ (45.0)
Cash Flows from Investing Activities
Purchase of short-term investments ......................... (2,516.5) (4,672.7) (4,255.3)
Sale of short-term investments ............................ 3,028.6 4,512.1 4,077.5
Net investments in subsidiaries ............................ 992.0 (149.8) 1,836.6
Net (increase) decrease in loans to subsidiaries ................ — 875.0 (875.0)
Proceeds from sale of investments .......................... — 37.0 510.5
Cash paid for property, equipment and satellites ............... (0.1) (27.9) (42.6)
Other, net ........................................... 13.8 6.2 14.8
Net Cash Provided by Investing Activities ................. 1,517.8 579.9 1,266.5
Cash Flows from Financing Activities
Common shares repurchased and retired ..................... (2,977.1) — —
Stock options exercised ................................. 257.1 45.2 23.0
Excess tax benefit from share-based compensation .............. 1.5 — —
Net Cash Provided by (Used in) Financing Activities ......... (2,718.5) 45.2 23.0
Net increase in cash and cash equivalents .................... (1,456.9) 255.2 1,244.5
Cash and cash equivalents at beginning of the year ............. 2,435.0 2,179.8 935.3
Cash and cash equivalents at end of the year .................. $ 978.1 $ 2,435.0 $ 2,179.8
Reference should be made to the Notes to the Condensed Financial Statements.
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