DIRECTV 2008 Annual Report Download - page 130

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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,
2008 2007 2006
(Dollars in Millions)
Cash Flows from Operating Activities
Net cash used in operating activities .......................... $ (16) $ (388) $ (256)
Cash Flows from Investing Activities
Purchase of short-term investments ............................ — (588) (2,517)
Sale of short-term investments ................................ — 748 3,029
Dividends from, net of investments in, subsidiaries ................. 3,390 1,259 992
Cash paid for property and equipment .......................... (17) (30) —
Other, net ............................................... 6 (5) 13
Net cash provided by investing activities ....................... 3,379 1,384 1,517
Cash Flows from Financing Activities
Common shares repurchased and retired ........................ (3,174) (2,025) (2,977)
Capital contribution ........................................ 160 — —
Stock options exercised ..................................... 105 118 257
Excess tax benefit from share-based compensation ..................872
Net cash used in financing activities .......................... (2,901) (1,900) (2,718)
Net increase in cash and cash equivalents ........................ 462 (904) (1,457)
Cash and cash equivalents at beginning of the year ................. 74 978 2,435
Cash and cash equivalents at end of the year ..................... $ 536 $ 74 $ 978
Reference should be made to the Notes to the Condensed Financial Statements.
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