DIRECTV 2011 Annual Report Download - page 127
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2010
Parent Guarantor Non-Guarantor DIRECTV
Guarantor Co-Issuers Subsidiaries Subsidiaries Eliminations Consolidated
(Dollars in Millions)
Revenues ......................................................... $ — $ 463 $20,268 $3,895 $ (524) $24,102
Operating costs and expenses
Costs of revenues, exclusive of depreciation and amortization expense
Broadcast programming and other ..................................... — — 8,699 1,428 (53) 10,074
Subscriber service expenses .......................................... — — 1,340 341 — 1,681
Broadcast operations expenses ........................................ — — 273 84 (7) 350
Selling, general and administrative expenses, exclusive of depreciation and amortization
expense
Subscriber acquisition costs .......................................... — — 2,631 374 — 3,005
Upgrade and retention costs ......................................... — — 1,106 63 — 1,169
General and administrative expenses .................................... 24 — 1,466 419 (464) 1,445
Depreciation and amortization expense .................................... — — 1,926 556 — 2,482
Total operating costs and expenses ..................................... 24 — 17,441 3,265 (524) 20,206
Operating profit (loss) ................................................ (24) 463 2,827 630 — 3,896
Equity in income of consolidated subsidiaries ................................. 2,219 1,835 — — (4,054) —
Interest income ..................................................... 1 1 4 44 (11) 39
Interest expense ..................................................... — (480) (8) (80) 11 (557)
Liberty transaction and related gains ....................................... — — — 67 — 67
Other, net ........................................................ (10) (25) 20 84 — 69
Income before income taxes ............................................. 2,186 1,794 2,843 745 (4,054) 3,514
Income tax benefit (expense) ............................................ 12 14 (1,008) (220) — (1,202)
Net income ....................................................... 2,198 1,808 1,835 525 (4,054) 2,312
Less: Net income attributable to noncontrolling interest .......................... — — — (114) — (114)
Net income attributable to DIRECTV ..................................... $2,198 $1,808 $ 1,835 $ 411 $(4,054) $ 2,198
103