DIRECTV 2007 Annual Report Download - page 123

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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,
2007 2006 2005
(Dollars in Millions)
Cash Flows from Operating Activities
Net cash used in operating activities .......................... $ (388) $ (256) $ (370)
Cash Flows from Investing Activities
Purchase of short-term investments ............................ (588) (2,517) (4,673)
Sale of short-term investments ................................ 748 3,029 4,512
Net investments in subsidiaries ................................ 1,259 992 (150)
Net (increase) decrease in loans to subsidiaries .................... — — 875
Cash paid for property, equipment and satellites ................... (30) — (28)
Proceeds from sale of investments .............................——37
Proceeds from sale of property ................................ 7 — —
Other, net ............................................... (12) 13 7
Net cash provided by investing activities ....................... 1,384 1,517 580
Cash Flows from Financing Activities
Common shares repurchased and retired ........................ (2,025) (2,977) —
Stock options exercised ..................................... 118 257 45
Excess tax benefit from share-based compensation .................. 7 2 —
Net cash (used in) provided by financing activities ................ (1,900) (2,718) 45
Net increase in cash and cash equivalents ........................ (904) (1,457) 255
Cash and cash equivalents at beginning of the year ................. 978 2,435 2,180
Cash and cash equivalents at end of the year ..................... $ 74 $ 978 $2,435
Reference should be made to the Notes to the Condensed Financial Statements.
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