DIRECTV 2006 Annual Report Download - page 46

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THE DIRECTV GROUP, INC.
ITEM 6. SELECTED FINANCIAL DATA
Years Ended and As of December 31,
2006 2005 2004 2003 2002
(Dollars in Millions, Except Per Share Amounts)
Consolidated Statements of Operations
Data:
Revenues .......................... $14,755.5 $13,164.5 $11,360.0 $ 9,372.2 $ 8,185.4
Total Operating Costs and Expenses ...... 12,398.7 12,531.9 13,479.4 9,509.7 8,595.0
Operating Profit (Loss) ............... $ 2,356.8 $ 632.6 $(2,119.4) $ (137.5) $ (409.6)
Income (loss) from continuing operations
before cumulative effect of accounting
changes ......................... $ 1,420.1 $ 304.6 $(1,056.4) $ (375.3) $ (114.9)
Income (loss) from discontinued operations,
net of taxes ...................... — 31.3 (582.3) 78.1 (97.6)
Cumulative effect of accounting changes,
net of taxes ...................... — — (310.5) (64.6) (681.3)
Net Income (Loss) ................... 1,420.1 335.9 (1,949.2) (361.8) (893.8)
Preferred stock dividends ..............————(46.9)
Net Income (Loss) Attributable to Common
Stockholders ...................... $ 1,420.1 $ 335.9 $(1,949.2) $ (361.8) $ (940.7)
Basic Earnings (Loss) Per Common Share:
Income (loss) from continuing operations
before cumulative effect of accounting
changes ......................... $ 1.13 $ 0.22 $ (0.77) $ (0.27) $ (0.12)
Diluted Earnings (Loss) Per Common
Share:
Income (loss) from continuing operations
before cumulative effect of accounting
changes ......................... $ 1.12 $ 0.22 $ (0.77) $ (0.27) $ (0.12)
Weighted average number of common
shares outstanding (in millions):
Basic ............................. 1,261.5 1,388.4 1,384.8 1,382.5 1,343.1
Diluted ........................... 1,269.9 1,394.8 1,384.8 1,382.5 1,343.1
Consolidated Balance Sheet Data:
Total Assets ........................ $15,141.1 $15,630.2 $14,324.4 $19,037.4 $17,986.7
Long-Term Debt .................... 3,394.9 3,405.3 2,409.5 2,434.8 40.0
Preferred Stock .....................————914.1
Total Stockholders’ Equity ............. 6,680.8 7,940.0 7,507.1 9,631.1 9,977.1
The cumulative effect of accounting change, net of taxes of $681.3 million recorded in the year ended
December 31, 2002 relates to the adoption of Statement of Financial Accounting Standards No. 142,
‘‘Goodwill and Other Intangible Assets’’ in 2002. The $64.6 million cumulative effect of accounting
change, net of taxes, in 2003 was due to our adoption of Financial Accounting Standards Board, or
FASB, Interpretation No. 46, ‘‘Consolidation of Variable Interest Entities—an interpretation of ARB
No. 51’’, or FIN 46 on July 1, 2003, resulting in the consolidation of the certain DIRECTV Latin
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