DIRECTV 2007 Annual Report Download - page 101
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THE DIRECTV GROUP, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Accumulated Other Comprehensive Loss
The following represent the components of ‘‘Accumulated other comprehensive loss’’ in our
Consolidated Balance Sheets as of December 31:
2007 2006
(Dollars in
Millions)
Unamortized net amount resulting from changes in defined benefit plan experience and
actuarial assumptions, net of taxes ....................................... $(37) $(53)
Unamortized amount resulting from changes in defined benefit plan provisions, net of
taxes ............................................................ (4) (4)
Accumulated unrealized gains on securities, net of taxes ......................... 21 9
Accumulated foreign currency translation adjustments .......................... (1) —
Total accumulated other comprehensive loss .............................. $(21) $(48)
Note 12: Earnings Per Common Share
We compute Basic Earnings Per Common Share, or EPS, by dividing net income by the weighted
average number of common shares outstanding for the period.
Diluted EPS considers the effect of common equivalent shares, which consist entirely of common
stock options and unvested restricted stock units issued to employees. In the computation of diluted
EPS under the treasury stock method, the amount of assumed proceeds from nonvested stock awards
and unexercised stock options includes the amount of compensation cost attributable to future services
not yet recognized, proceeds from the exercise of the options, and the incremental income tax benefit
or liability as if the awards were distributed during the period. We exclude common equivalent shares
from the computation in loss periods as their effect would be antidilutive and we exclude common
stock options from the computation of diluted EPS when their exercise price is greater than the
average market price of our common stock. The following table sets forth the number of common stock
options excluded from the computation of diluted EPS because the options’ exercise prices were
greater than the average market price of our common stock during the years presented:
December 31,
2007 2006 2005
(Shares in Millions)
Common stock options excluded ................................... 34 48 66
The following table sets forth comparative information regarding common shares outstanding:
2007 2006 2005
(Shares in Millions)
Common shares outstanding at January 1 ............................ 1,226 1,391 1,386
Decrease for common shares repurchased and retired ................... (86) (184) —
Increase for stock options exercised and restricted stock units vested and
distributed ................................................. 8 19 5
Common shares outstanding at December 31 .......................... 1,148 1,226 1,391
Weighted average number of common shares outstanding ................. 1,195 1,262 1,388
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