DIRECTV 2010 Annual Report Download - page 54

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DIRECTV
SUMMARY RESULTS OF OPERATIONS AND FINANCIAL CONDITION
Years Ended December 31,
2010 2009 2008
(Dollars in Millions, Except Per
Share Amounts)
Consolidated Statements of Operations Data:
Revenues .............................................................................................. $24,102 $21,565 $19,693
Total operating costs and expenses .............................................................................. 20,206 18,892 16,998
Operating profit ......................................................................................... 3,896 2,673 2,695
Interest income .......................................................................................... 39 41 81
Interest expense .......................................................................................... (557) (423) (360)
Liberty transaction and related gains (charges) ....................................................................... 67 (491) —
Other, net ............................................................................................. 69 34 55
Income from continuing operations before income taxes ................................................................ 3,514 1,834 2,471
Income tax expense ....................................................................................... (1,202) (827) (864)
Income from continuing operations ............................................................................. 2,312 1,007 1,607
Income from discontinued operations, net of taxes .................................................................... — — 6
Net income ............................................................................................ 2,312 1,007 1,613
Less: Net income attributable to noncontrolling interest ................................................................. (114) (65) (92)
Net income attributable to DIRECTV ........................................................................... $2,198 $ 942 $ 1,521
Net income attributable to common stockholders:
Income from continuing operations, net of taxes, attributable to DIRECTV Class A common stockholders (DIRECTV Group common stockholders for the
year ended December 31, 2008 and the period January 1, 2009 through November 19, 2009) ....................................... $2,014 $ 942 $ 1,515
Income from continuing operations, net of taxes, attributable to DIRECTV Class B common stockholders, for the period of November 19, 2009 through
June 16, 2010, including $160 million exchange inducement value for the Malone Transaction in 2010 ................................. 184 — —
Income from discontinued operations, net of taxes .................................................................... — — 6
Net income ............................................................................................ $2,198 $ 942 $ 1,521
Basic earnings attributable to DIRECTV Class A common stockholders per common share:
Income from continuing operations ............................................................................. $ 2.31 $ 0.96 $ 1.36
Income from discontinued operations, net of taxes .................................................................... — — 0.01
Net income ............................................................................................ $ 2.31 $ 0.96 $ 1.37
Diluted earnings attributable to DIRECTV Class A common stockholders per common share:
Income from continuing operations ............................................................................. $ 2.30 $ 0.95 $ 1.36
Income from discontinued operations, net of taxes .................................................................... — — 0.01
Net income ............................................................................................ $ 2.30 $ 0.95 $ 1.37
Basic and diluted earnings attributable to DIRECTV Class B common stockholders per common share:
Income from continuing operations, net of taxes ..................................................................... $ 8.44 $ (0.02) $ —
Net income ............................................................................................ $ 8.44 $ (0.02) $ —
32